Sponsored

Tempest Minerals (ASX:TEM) Expands Potential with GreenSteel MOU and Metallurgical Testing

February 25, 2025 04:47 PM AEDT | By Sonal Goyal
Follow us on Google News: https://kalkinemedia.com/resources/assets/public/images/google-news.webp

Highlights

  • First-round drilling at the Remorse Target identified high-grade magnetite (up to 39% Fe) and significant copper zones.
  • MOU signed with GreenSteel to fast-track processing of high-grade magnetite for green steelmaking.
  • Drill samples sent for metallurgical testing, with results expected by the end of 1Q 2025.
  • GreenSteel plans a $3 billion multi-user HBI facility near the Yalgoo Project.
  • TEM has established an initial Exploration Target for Remorse.
  • Exploration efforts are ongoing across various targets, including gold prospects.

Tempest Minerals Ltd (ASX:TEM) has made notable advancements at the Remorse magnetite iron ore deposit, located within the Yalgoo Project in Western Australia. The area is surrounded by world-class iron ore operations, providing a strategic edge.

In 2024, the company reported substantial base metal and iron ore mineralisation at the Remorse Target, while building on this momentum, in 2025, Tempest signed an MOU with Green Steel and Iron Pty Ltd (GreenSteel) and initiated metallurgical testing on recent drill samples.

High-Grade Magnetite Deposit Uncovered

In late 2024, the company concluded the first round of exploration drilling at the Remorse Target, totalling 4,005m of reverse circulation (RC) drilling. The campaign focused on a base metal geochemical zone and uncovered multiple zones of significant copper mineralisation, along with substantial magnetite interceptions, with high-grade iron results reaching up to 39%.

Several drill results are pending, and preliminary pXRF data suggests the potential for similar grade and thicknesses in the upcoming results.

Based on surface geology data and recent drilling outcomes, TEM generated an initial Exploration Target for the Remorse Iron Deposit.

Strategic Partnership to Unlock Green Steel Potential

To further explore development opportunities for the Remorse deposit, particularly for producing magnetite concentrate for the green steelmaking process, Tempest entered a Memorandum of Understanding (MOU) with GreenSteel in February 2025.

GreenSteel plans to build a $3 billion multi-user hot briquetted iron (HBI) processing hub adjacent to the Yalgoo Project. This development aligns with growing demand for cleaner steel production technologies and is strategically positioned to meet the needs of renewable energy infrastructure and electric vehicle manufacturing.

Metallurgical Testing and Future Development

In February 2025, Tempest commenced metallurgical testing on over five tonnes of drill samples collected from the Remorse deposit. These samples were sent to the IMO Metallurgical Testing Laboratory for analysis of grindability and recovery rates.

Initial results are anticipated by March 2025, and these will evaluate key processing factors that will inform the future development of the project. 

This initiative aligns with Tempest's strategy to advance the Remorse deposit with a focus on sustainable iron production, aligning with the growing demand for high-quality magnetite in the green steel industry.  

Ongoing Exploration and Drilling Plans

Tempest continues its exploration efforts across multiple targets, including gold prospects at Sanity, Elephant, and Mt Magnet.

The company plans further drilling and field assessments at the Remorse Project, building on its recent advancements and preparing for future development phases.

TEM shares were trading at AU$0.005 per share at the time of writing on 25 February 2025.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Two ASX Listed Stocks Giving Bullish Indications

Recent Articles

Investing Tips

Previous Next
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.