Tempest Minerals (ASX:TEM) is continuing metallurgical study works and has further drilling planned at the company’s 100% owned Remorse magnetite iron discovery in Western Australia with final results due in Q2 2025.
Speaking to Mining.com.au, Managing Director Don Smith says the ongoing metallurgical work and recent memorandum of understanding with privately held Green Steel and Iron to potentially help develop Remorse is driving the company’s confidence of potentially fast-tracking development.
“The metallurgical testing we’re doing, I think it should also give the market even more confidence that we’re not just spruiking a couple iron hits,” Smith tells this news service.
“We’re so far advanced with plenty more value accretive works to come including production and metallurgical studies and further drilling. It’s just another step in our ability to move rapidly on projects towards development.”
Smith says the completion of the preliminary metallurgical testing will provide the framework for continuing further economic studies and while seeking to expedite development of the Remorse deposit to production.
Tempest has now submitted more than 5 tonnes of samples collected from its recent drill program for metallurgical testing. The laboratory will provide a range of analyses regarding processing variables such as grindability and recoveries.
Results are expected in March 2025 and will be fed into future studies and planning.
In addition to the metallurgical testing, Tempest has six further drilling and activities planned in the H1 2025 to better understand and accelerate the development of the Remorse deposit, which could position Tempest as a future supplier for the iron and steel industry.
Meanwhile, the collaboration with Green Steel and Iron will now progress, which Smith says is a coup for the junior explorer as there is potential to secure a local offtaker for its iron ore, while having access to critical infrastructure.
As Mining.com.au previously reported, the collaboration aims to leverage Green Steel’s expertise in green steel production and Tempest’s iron ore deposit at the Yalgoo Project.
Green Steel is developing a $3 billion Direct Reduced Iron (DRI) plant in Mullewa in the Mid West of Western Australia, which will produce green steel from local iron ore sources. This will initially be powered by a blend of natural gas and green hydrogen and the proportion of hydrogen may increase in time based on various economic considerations.
Smith reiterates the MoU with Green Steel places Tempest in a positive position within its flagship Yalgoo Project in Western Australia given the attractiveness of the region to other explorers and producers alike.
Totalling more than 1,000 km2 the project is located among high-profile neighbours, including Fenix Resources (ASX:FEX) and 29 Metals (ASX:29M).
Fenix’s nearby wholly owned Iron Ridge Mine hosts some of the highest-grade iron ore in Western Australia and has mineral resources totalling 6.6 million tonnes at 65.1% Fe, inclusive of ore reserves. The mine produces a premium Direct Shipping Ore (DSO) product averaging circa 63% Fe.
The Remorse deposit within Yalgoo has already intersected magnetite iron ore grades up to 39%.
29 Metals’ Golden Grove mine is a volcanic-hosted massive sulfide (VHMS) geological system located east of Geraldton and south of Mt Magnet. VHMS deposits represent a significant source of the world’s copper and zinc, and to a lesser extent, lead, silver, gold, and other byproducts.
Tempest will be attending this year’s Prospectors & Developers Association of Canada (PDAC) event being held from 2-5 March in Toronto, Canada. The annual award winning convention brings together up to 30,000 attendees from over 130 countries for its educational programming, networking events, as well as business and investment opportunities.
Mining.com.au is an official media partner for the upcoming event. To register for PDAC 2025 click here.
Write to Adam Orlando at Mining.com.au
Images: Tempest
