Discovered the VMS System - The Reward for Believing Management - Tempest Minerals Ltd (ASX: TEM)
Coffee with Samso Episode 133 with Don Smith, Managing Director, Tempest Minerals Limited (ASX:TEM)
Tempest Minerals Limited (used to be called Lithium Consolidated Limited) has made many ASX companies watching with envy. The company made the announcement on the 28th March 2022. The 709m drill hole that has come up with massive sulphides cannot be ignored. This is in no doubt a discovery hole.
What is for certain is that this is a Volcanogenic Massive Sulphide (VMS) system. What is yet to be ascertain is in regards to the potential size, the endowment and if this will be an economic system.
According to Don Smith, the Managing Director of Tempest Minerals Limited, this is an exciting time for the company. The discovery is from a location that was never thought of to be productive. Management discovered that the greenstones that hosted the Golden Grove VMS deposit may have diverted to the tenements that the company hold.
The drilling that was announced is prove that this theory is well thought of and could make the difference in creating a new mineralised province. This area has never been pegged and previous explorers have ignore and thought of the place as not mineralised.
00:00 Start
00:20 Introduction
02:26 Discovery Hole
02:56 How does the core compare to a typical VMS geology?
03:45 What does the geology tell you about the potential?
06:20 Was this a geology drill hole?
08:24 How much confidence do you draw from what you know now to your initial theory?
09:31 Any structural offsets?
10:05 Is depth of mineralisation a concern for you?
10:53 How will this discovery affect your other projects?
12:55 Mount Magnet Projects.
15:43 Where is the focus now?
16:41 Is this a VMS project?
17:08 How big is this system?
17:38 What is the news flow coming for Tempest?
18:25 Patience is paying off for shareholders. Exploration activities will be speeding up.
19:11 Don's sales pitch to Investors.
21:18 Conclusions