Business:Investing
Update on Meleya Project - Discovery and Proof of Concept - Tempest Minerals Limited (ASX: TEM)
2022-06-02
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Rooster Talk 58 is with Don Smith, Managing Director, Tempest Minerals Limited (ASX:TEM)
Its been a while since the excitement of the discovery of a large sulphide system at Meleya. I have been very keen to get to see the rocks and have a discussion with Don. In my opinion, the rocks will be the key to the continuation of the story.
Prior to the drilling, the general discussion was primarily on the the potential of the geology being similar to Golden Grove VMS deposit. When Tempest announced the drilling results on the 28th March 2022, there was general excitement in the market.
The realisation from the concept was now closer to fact, however, there is still a wait on the actual numbers of the assays. Irrespective of the numbers, I think there is no denying that there is some sort of a discovery at Meleya.
In this episode of Rooster Talk, I asked Don about the geology. The geology from the drilling is the key factor. I asked Don, if this was a Discovery or a Proof of Concept. We also talked about the numerous alteration within the length of the hole which points to a large cooking system that could be endowed with metals.
The main takeaway for this episode is to have an understanding of the geology of the area. The assay numbers will be interesting. However, I suspect that will not be the conclusive answer for or against the project.
There will be more drilling and more discussion. In my opinion, this is proof that the geology is similar and it is mineralised. This has been a great conversation and I like their method of understanding the geology first before rushing out to drill holes.
Chapters
00:00 Start
00:20 Introduction
02:10 Discovery or Proof of Concept
03:16 Lets talk geology of both drill holes.
06:03 Where is the geological thinking now?
07:15 How can Investors understand your geology?
08:50 What is Tempest thinking now?
10:27 Is there any issues with the progress of Tempest?
11:23 Other Projects
14:25 News Flow
15:21 Why Tempest?
16:20 Conclusion
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