• Noel Ong

VMS System Discovered - The Reward for Believing Management - Tempest Minerals Ltd (ASX: TEM)


Coffee with Samso Episode 133 is with Don Smith, Managing Director, Tempest Minerals Limited (ASX:TEM)


Tempest Minerals Limited (formerly known as Lithium Consolidated Limited) has made many ASX companies watch them with envy. The company made this 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 ascertain is its potential size, the endowment and if this will be an economic system.




According to Don Smith, 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 holds.


The drilling that was announced is proof 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 ignored and thought of the place as not mineralised.


Chapters


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


Watch the interview here or see the video above. For further information about Coffee with Samso and Rooster Talks visit: samso.co.au

PODCAST

About Don Smith

Managing Director


Don is a geologist and entrepreneur with over 20 years in the mining industry. He has worked in operational, development, exploration and consultant roles for junior through to multinational firms spanning over 10 countries and numerous commodities including base and precious metals and energy minerals.


Don’s corporate experience includes project acquisition, financing and development and company management. Don has been the founding director of a number of private and public resource companies including the successful listings on the ASX of Platypus Resources and Alderan Resources. He is currently involved with several start-ups and consults to the industry.


Don has a Bachelor of Science from Newcastle University and a Master of Business Administration from the Australian Institute of Business. Don is also a member of the Australasian Institute of Mining and Metallurgy and a member of the Australian Institute of Geoscientists.


About Tempest Minerals Ltd (ASX:TEM)


The Company listed via initial public offering (IPO) in 2017 under the name Lithium Consolidated Mineral Exploration Limited (Li3) with the goal of feeding the rapidly growing battery mineral industry. Li3 went on to acquire multiple lithium projects on 3 continents and had a string of successful exploration and divestment transactions.


In 2019, faced with a challenging lithium market, the board decided to expand the strategic focus of the company into a more diversified direction and began looking at other commodities such as copper. At the end of 2019, Li3 acquired private exploration company Warrigal Mining and have subsequently continued developing an exciting portfolio of precious and base metals projects in Western Australia to complement the existing energy metal projects.


In August 2020, shareholders elected to rebrand the company to Tempest Minerals Ltd to better reflect the evolved business and its more diverse commodity focus.

 

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