New Zealand Acquisition pending completion of due diligence, Finalisation and execution of formal transaction documentation and Progression of regulatory requirements
Yalgoo – Remorse and Halo
Yalgoo Region (400 km North of Perth)
225 km2
High-grade Magnetite Iron Ore
Volcanogenic Massive Sulphides (VMS)-style base metals
Potential for Nickel and REE zonation
Complex mineral system within the Yalgoo Greenstone Belt, with mineralised zones displaying zonation typical of VMS deposits. High-grade magnetite intersections up to 39% Fe
“These results confirm Remorse as a high-quality magnetite project with strong growth potential. Our maiden JORC Resource, exceptional metallurgy, and partnership with Green Steel & Iron provide a clear pathway to sustainable development, and we’re excited to build on this momentum with further work planned for 2026.”
– Don Smith, Managing Director
The Remorse Target is a high-priority exploration area located on the eastern flank of Tempest Minerals’ Yalgoo Project in Western Australia. Recognised for its significant iron and base metal potential, the Remorse Target has rapidly advanced from early-stage exploration to a promising high-grade magnetite prospect. Drilling has revealed iron grades of up to 39%, positioning Remorse as a potential future contributor to Western Australia’s magnetite supply chain. With an exploration target aligned with active magnetite operations and strategic collaborations underway, the Remorse Target is poised for accelerated development.
Exploration at the Remorse Target commenced in earnest in 2023 and 2024, following the identification of a strong base metals geochemical signature. Located near several historical occurrences of gold, iron, and base metals, Remorse quickly emerged as a high-potential zone. In September 2024, Tempest Minerals completed site works and began an initial round of RC drilling, totalling 4,005 metres. These efforts focused on a base metal geochemical zone and successfully intersected multiple zones of anomalous copper mineralisation. This work confirmed the area’s strong mineralisation potential and set the stage for more targeted exploration.
“These results confirm Remorse as a high-quality magnetite project with strong growth potential. Our maiden JORC Resource, exceptional metallurgy, and partnership with Green Steel & Iron provide a clear pathway to sustainable development, and we’re excited to build on this momentum with further work planned for 2026.”
– Don Smith, Managing Director
The geology of the area was initially interpreted as a discontinuous sequence within the Yalgoo regional geology. Recent work identified strongly magnetic banded stratigraphy and numerous large-scale cross-cutting structures which dislocate the iron formations in the central area of the deposit.
There is minimal regolith over the Remorse deposit area and the iron formations crop-out as distinctive low, parallel, continuous ridges. Iron formation outcrop is siliceous in the thin (~1m) weathered zone and becomes fresh, consistent, hard, medium-grained, magnetite-rich rock in the sub-surface and to depth (currently tested to ~150m). Country rock interecalated with the iron formations consists of metamorphosed mafic and mafic-sedimentary lithologies.
Following the discovery of high-grade magnetite mineralisation, Tempest Minerals has defined a target scale and grade consistent with several producing magnetite operations across Western Australia. In support of its development ambitions, Tempest signed a Memorandum of Understanding (MOU) with Green Steel and Iron Pty Ltd. This partnership aims to explore opportunities for producing high-grade magnetite concentrate for use in sustainable steelmaking processes. Metallurgical testing returned robust results with high recoveries and low impurities. An inaugural inferred resource has been announced. Additional drilling and field assessments are scheduled for 2026, marking the next step in advancing Remorse toward production and positioning Tempest Minerals as a future contributor to the green steel supply chain.
Halo is located on the eastern side of the Yalgoo Project – ~5km west of the Remorse Deposit.
Tempest completed outcrop mapping at the Halo Target in mid-2025 and identified at least five parallel iron
formation units with a known strike length of more than 5km.
These correlate strongly with clear linear
north-trending features in aeromagnetic data that can be traced for up to 10 km, and a number layers have
apparent surficial thicknesses of 10’s of metres.
In hand specimen, the iron units exhibit a variety of magnetism responses from strong to weak, suggesting
the potential for both magnetite and haematite mineralisation.
TEM previously flagged the presence of legacy iron-rich rock chips in the vicinity of and within the Halo Target
Historical results from a number of previous explorers include rock chip results up to 58% Fe and 62% Fe.
Halo is located on the eastern side of the Yalgoo Project – ~5km west of the Remorse Deposit.
Tempest completed outcrop mapping at the Halo Target in mid-2025 and identified at least five parallel iron
formation units with a known strike length of more than 5km.
These correlate strongly with clear linear
north-trending features in aeromagnetic data that can be traced for up to 10 km, and a number layers have
apparent surficial thicknesses of 10’s of metres.
In hand specimen, the iron units exhibit a variety of magnetism responses from strong to weak, suggesting
the potential for both magnetite and haematite mineralisation.
TEM previously flagged the presence of legacy iron-rich rock chips in the vicinity of and within the Halo Target
Historical results from a number of previous explorers include rock chip results up to 58% Fe and 62% Fe.
