Tempest Minerals (ASX:TEM) pursues new discoveries with exploration progress at Yalgoo

Highlights

• Tempest intercepted high-grade magnetite iron with grades reaching up to 39.34% Fe at Yalgoo's Remorse Target.
• New iron discoveries at Yalgoo expand the company’s multi-metal strategy, supporting growth in base and precious metals.
• Tempest’s recent drilling has identified isolated copper anomalies.
• The company plans to continue analysing drill results and exploring high-grade magnetite and base metal intercepts.

Tempest Minerals Limited (ASX:TEM), an ASX-listed mineral exploration company, has been making significant progress in its exploration efforts at the Yalgoo Project, with recent drilling at the Remorse Target yielding promising results. Remorse is part of the company’s flagship Yalgoo project.

The latest reverse circulation (RC) drilling program has uncovered high-grade magnetite iron intercepts that has enhanced the company’s understanding of this mineral-rich area and expanded the exploration potential of the Yalgoo Project.

High-Grade Iron Intercepted at Yalgoo

In its initial drilling efforts, TEM successfully intercepted a 32m down-hole intersection of magnetite-hosted iron in RC hole WARDH0160, with grades reaching up to 39.34% Fe.

This exciting discovery strengthens the company's multi-metal strategy by expanding its portfolio with valuable mineral opportunities at Yalgoo, complementing its work across both base and precious metals. Additionally, project’s proximity to world-class iron projects further highlights the regional potential for future discoveries.

The discovery of previously unexplored iron targets, especially in areas with undercover magnetic highs, indicates further potential of this region. While initial assessments relied on visible stratigraphy, drilling has now offered new insights into the geological context, uncovering consistent, high-grade magnetite mineralisation beneath weathered outcrops.

The Broader Potential of Iron Ore

Iron ore remains a valuable commodity in today’s market, and the discovery at the Remorse target further expands the range of mineral opportunities being explored by the company. The recent developments in the Yalgoo region allow TEM to make more informed decisions and strategic adjustments. While the company’s primary focus is on base and precious metals, it remains committed to fully capitalising on the potential of all mineral resources in the area.

Looking ahead, the company plans to continue analysing drill results as they are received, explore high-grade magnetite and base metal intercepts, and leverage new data to strengthen its overall exploration strategy.

Shares of TEM last traded at AU$ 0.005 each on 14 November 2024.