Anyone who's commented that core doesn't look any good or mineralisation doesn't look high tenor has missed the point. Most major discoveries are made (a) in virgin, unexplored ground (there isn't much of that left in Oz, especially not close to infrastructure) - this ground was completely missed and is thus completely unexplored, (b) close to or within the same geological formation/structure/ other major deposits - they are very confident this is a continuation of the trend from Golden Grove, and (c) discovery is very often made on the first drill hole at depth (think of Julimar and Hemi, both made on first hole). Tempest can tick all three of those boxes, although they wouldn't have hit the best yet the fact they've hit a lot of mineralisation on the first hole is very significant to me.
The odds of there being an economic ore deposit or three somewhere within the 50km of strike is high. This ground has 40 years of exploration to catch up on and Tempest will be the one to do. It might take time and it will take a lot of drill holes but we all know what large VMS discoveries mean for a company valuation (Sandfire Resources).
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- Ann: Meleya Update - Significant Discovery At Orion Target
Ann: Meleya Update - Significant Discovery At Orion Target, page-374
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