Tempest Minerals (ASX:TEM) identifies high-grade iron in latest drilling at Remorse Target

Highlights

• Further high-grade magnetite iron identified in RC drilling at the Remorse Target within the Yalgoo Project
• Continuous intercepts observed across more than 2km of drilled strike length
• Identical outcropping geology traced over a total strike length of 5km.

Tempest Minerals Ltd (ASX:TEM) has shared promising results from recent reverse circulation (RC) drilling at the Remorse Target, part of its wholly-owned Yalgoo Project. The drilling has confirmed the presence of thick, high-grade magnetite-hosted iron ore, with several drill holes revealing significant mineralisation over a strike length of several kilometres.

Notable results include:

• WARDH00180: 16m @ 32.6% Fe from 93m (pXRF)
• WARDH00169: 20m @ 32.3% Fe from 120m and 11m @ 30.8% Fe from 182m (pXRF)
• WARDH00166: 7m @ 32.8% Fe from 96m (Lab)
• WARDH00171: 8m @ 30.1% Fe from 130m (pXRF)

The widely spaced drilling has demonstrated continuity and consistency over >2 kilometres, with iron-rich stratigraphy outcrops observed over a broader 5km zone, aligning with the original Remorse Target footprint.

Initial field observations from RC drill-chip samples suggest the magnetite-rich rock is a medium-grained, equigranular, and massive unit. Boxscan pXRF readings and laboratory results have confirmed consistent internal iron grades. Importantly, medium-grained, uniform magnetite iron ore is ideal for mining and processing, as it enables easier and more cost-effective liberation during beneficiation, ultimately yielding higher-grade concentrates.

RC Drilling at the Remorse Target

The first phase of RC drilling at the Remorse Target has been completed, covering 4,005m across 21 holes. Samples were analysed using Boxscan (which includes a mounted portable X-ray fluorescence) and sent to the lab, with final assay results expected in December 2024.

The iron intercept previously reported from the first hole drilled at Remorse, WARDH00160, was 32m at 30.0% Fe from 96m, including 7m at 37% Fe (Lab results).

The drill program was designed to target a strong base metal geochemical anomaly at the Remorse Target. The focus was on testing the 'hanging wall' stratigraphy, and the drilling resulted in the four northernmost holes intercepting the main magnetite layer, along with several adjacent magnetite-rich layers.

Plans Ahead

The company is committed to completing the analysis of drill results and conducting metallurgical testing to assess beneficiation properties and efficiency. Additionally, the next phase of drilling is planned to accurately define the high-grade iron mineralisation.

TEM shares were trading at AU$0.006 each at the time of writing on 21 November 2024.