TEM | Yalgoo Update - High-Grade Iron Intercepted in Early Drilling at Remorse

Tempest Minerals Limited (ASX: TEM) is pleased to provide an update on its ongoing exploration activities at the Yalgoo Project. The Company has received assay results from the first of the recently drilled holes at the Remorse Target which shows intercepts of high-grade iron. RC hole WARDH0160 has returned a 32m down-hole intersection of magnetite-hosted iron, grading up to 39.34% Fe. The promising iron grades were intersected whilst drilling the Remorse copper-zinc soil anomaly target and represent a significant opportunity for further iron-focussed exploration in addition to base and precious metals. Multiple untested zones exhibiting such magnetite mineralisation apparently exist, each being 7 km in strike length. Further results are expected in coming weeks.

Key Points

• High-grade magnetite iron intercepted in RC drilling.
• Extensive, consistent and unexplored iron targets.
• Undercover magnetic highs with similar signature show substantial additional potential.

Remorse Project

High-Grade Iron

Although assays are only available for one hole to date, the intersection of high-grade magnetite iron is an exciting development in the prospectivity of the Remorse target. Although extensive iron-rich stratigraphy was noted in all work to date, due to the surface expression, it was viewed through the geological lens of a gangue mineral associated with base metal deposit styles such as VMS. However, drilling into the fresh rock below weathered, cherty, haematite-goethite-magnetite outcrops has shown consistent medium-grained, massive, high-grade, magnetite-rich mineralisation in the sub-surface.

Figure 01: Section through initial iron mineralisation WARDH160-162

Table 01: Remorse Fe Intercepts

Figure 02: Greater Remorse Geochemical Anomaly With Designed Drillholes

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