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.
Read more in this Kalkine Media article.
