Energy sustainability represents an important research topic for aiding decreasing energy dependence and slowing down climate changes. In this context, solutions using thermal energy storage through rock start to emerge, due to its natural benefits, when compared to more polluting alternatives. To understand whether a rock material can be considered a good thermal energy storage material for such solutions, it is necessary to evaluate the physical, chemical and thermal properties of such materials. Therefore, it becomes essential to understand how heat propagates in the rock and how voids influence the thermal properties. To achieve these goals, hematite ore from Moncorvo, Northeastern Portugal was used, in particular, to study the effect of grain size on thermal properties for three different sized lots. Chemical and physical changes between heated and unheated lots were detected using X-ray diffraction and particle size, as well as X-ray fluorescence analysis. Regarding thermal properties, a hot wire method approach was used with seven thermocouples. Additionally, a thermal inversion model to simulate the heat exchanges was also proposed, allowing changing the properties of the constituents, to fit the theoretical and experimental temperature curve. Furthermore, the model reveals how heat propagates inside the reservoir filled with hematite ore.