Bandai Namco put up several job listings for a 3d action game contracted by Nintendo and one of the listings seems to indicate that it's a remaster/remake.

The first listing is for a planner/game-designer (also specifies that they need to have experience in action-game level-design):

https://bandainamcostudios.snar.jp/jobboard/detail.aspx?id=qz8IL4XM5YdrlPwPuO7Dog

The second listing is for a visual artist:

https://bandainamcostudios.snar.jp/jobboard/detail.aspx?id=D0qNxrNgTrTKOLHeyGdycw

The third listing is for another visual artist, but it specifies that they are going to work on "HD remastering of backgrounds":

https://bandainamcostudios.snar.jp/jobboard/detail.aspx?id=BkQB6bonCuZoHhLcg25OHQ

Hmm, there's not too many 3D action games from Nintendo that immediately come to mind. The rumored Metroid Prime remake is supposed to be Retro Studios. Maybe something Star Fox related or Kid Icarus Uprising????

It could be Xenosaga in cooperation with Monolith-Soft.

Super interesting!

Ocarina of Time Final Fantasy VIIR type remake. Yes.

The background art in this remaster is described to be "deformed", so maybe a game with chibi art-style?

That would be interesting but Bandai Namco owns the Xenosaga IP and this project is being contracted by Nintendo. 

I know it's not a Namco game but we REALLY NEED a remaster of Sin & Punishment Star Successor. I know it's not Xenosaga as it lists an action game. I hope to god it's not Assault as that game is ass.

Come on Star Fox Adventures!! oh wait no not that game. Whatever it is, I'm sure it will be solid.

Its time