Tempest Minerals Ltd (ASX:TEM) has intercepted high-grade magnetite in early drilling at the Remorse copper-zinc soil anomaly target of its Yalgoo Project in Western Australia.
Assay results from the first of the recently drilled reverse circulation drill holes at Remorse show intercepts of high-grade iron such as a 32-metre down-hole intersection of magnetite-hosted iron, grading up to 39.34% iron.
The company says the promising iron grades intersected represent a significant opportunity for further iron-focused exploration in addition to base and precious metals.
Multiple untested zones exhibiting such magnetite mineralisation apparently exist, each being 7 kilometres in strike length.
Tempest expects to receive further results in the coming weeks.
“Exciting development”
Although assays are only available for one hole to date, Tempest describes the intersection of high-grade magnetite iron as an “exciting development” in the prospectivity of the Remorse target.
Extensive iron-rich stratigraphy was noted in all work to date, but 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 has shown consistent medium-grained, massive, high-grade, magnetite-rich mineralisation in the sub-surface.
Greater Remorse geochemical anomaly with designed drill holes.
Base metal intercepts
In addition to the high-grade iron, initial drilling also identified isolated copper anomalies, with the highest grades recorded at 0.52% copper in pXRF data.
Yet the copper grades detected to date do not adequately account for the significant and consistent copper-zinc anomalism observed in the earlier soil geochemistry sampling.
The company is actively reviewing all data as it is received to further assess the geological context and the relationship between the soil anomalies and drilling results.
Next steps
Tempest will continue to analyse drill results as they become available, noting the potential for further high-grade magnetite and base metal intercepts as drilling continues. The company will then re-evaluate the iron potential with new data as calibration.