Tempest Minerals (ASX:TEM) said recent fieldwork at its Western Australia-based Yalgoo project, in conjunction with legacy exploration data, has identified the presence of a "substantial" geological iron target nearby to the Remorse magnetite deposit, according to a Thursday Australian bourse filing.

The company added that historic rock chip samples identified outcrops with iron grades up to 62% and also indicate the possible presence of both magnetite and possibly haematite mineralization.

According to the filing, the Halo target bears many similarities to the Remorse deposit and will likely be a key part of any future project development.