Yalgoo’s Gold and Iron Potential Propels Tempest Minerals’ (ASX:TEM) Growth Strategy

Highlights

• At the Sanity Target, soil assays reached up to 300ppb gold with rock samples grading as high as 7g/t gold.
• Recent sampling at the Sanity Target has extended the known gold anomaly.
• The Remorse Target has revealed a significant magnetite discovery, with a maiden inferred resource of 63.5 Mt @ 30.6% Fe and an exploration potential of 110 Mt @ 32% Fe.
• Metallurgical tests at Remorse showed high-grade concentrate up to 68.8% Fe.
• Tempest has signed a Memorandum of Understanding with Green Steel and Iron Pty Ltd to assess development opportunities at Remorse.
• To fund ongoing exploration and development activities, Tempest announced a non-renounceable rights issue aiming to raise AUD 1.47 million.

Tempest Minerals Ltd (ASX:TEM) has released an investor presentation outlining its recent achievements and upcoming initiatives. The resource exploration company is focused on the discovery and development of high-potential precious, base and energy metal projects in Western Australia.

To support the advancement of iron ore exploration at its Yalgoo Project and other gold exploration efforts, the company recently announced a non-renounceable entitlement offer aiming to raise approximately AUD 1.47 million.   

Flagship Project Overview: Yalgoo’s Strategic Location and Potential

TEM’s flagship Yalgoo Project covers over 1,000 square kilometres and is strategically located near major mining operations owned by ASX-listed companies such as Capricorn Metals, Spartan Resources, Tungsten Mining and 29 Metals Ltd. Geochemical studies and early mapping have confirmed the potential of the project area.

Current exploration efforts are focused on the Sanity and Remorse targets, both of which have demonstrated promising mineralisation.

Gold Potential at Sanity Target

The Sanity Target has yielded significant geochemical anomalies, with soil samples grading up to 300ppb gold and rock chip assays reaching as high as 7g/t gold. The area also features coincident magnetic and electromagnetic targets. Plans are in place to commence drilling at this site.

Recent geochemical sampling efforts have further expanded the known gold anomaly. The increased grid density in the survey has significantly enhanced data resolution, increasing confidence in the target's potential.

Iron Discovery at Remorse Target

At the Remorse Target, Tempest has uncovered a major iron discovery, with high-grade magnetite assays of up to 39% Fe and an exploration target of 110 million tonnes at 32% Fe.

In May 2025, the company announced its maiden inferred mineral resource estimate of 63.5 million tonnes at 30.6% Fe, marking progress to resource definition from exploration target.

Metallurgical Progress and Development Partnership

As part of the ongoing metallurgical test work at Remorse, nine composite samples have been collected from the site. Initial results have been encouraging, with Davis Tube Recovery (DTR) tests yielding concentrate grades up to 68.8% Fe. Additionally, initial testwork indicated low impurity levels and high recoveries.

Tempest has signed a Memorandum of Understanding (MOU) with Green Steel and Iron Pty Ltd to explore development opportunities at Remorse. The agreement includes plans for a shared central processing hub and aims for domestic production by 2028.

Additional Exploration Assets

In addition, Tempest Minerals is actively progressing exploration efforts across its Mt Magnet and Elephant projects. At Mt Magnet, the near-term focus is on the Wrangler target, where multiple new exploration prospects have been identified. Meanwhile, the Elephant Project holds multi-million-ounce gold potential, and future exploration activities currently being planned.

TEM shares trade higher

TEM shares were trading at AUD 0.004 per share at the time of writing on 10 June 2025.