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Positive Tempiute Tungsten Drilling Results
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Meeting Overview The meeting focused on the recent tungsten drilling results at the Schofield project, discussing the significance of the findings, the potential for byproduct metals, and the next steps for underground rehabilitation and exploration. The conversation highlighted the historical context of tungsten mining in the area and the promising indications of a larger mineral system than previously understood. Key Discussion Points - Overview of recent drilling results, specifically 92 meters at 0.34% tungsten. - Comparison of tungsten value to copper and the importance of communicating this to investors. - Discussion on the potential for byproduct metals (copper, silver, zinc) and the need for further metallurgical work. - Confidence in moving forward with underground rehabilitation based on visual assessments of core samples. - Insights into the historical mining efforts and the limitations faced by early miners. - Exploration of the broader mineral system beyond the old mine...
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Replay transcript excerpt
Speaker 1: So Oliver, welcome back. Let's start with the number everybody's gonna 0 in on because it's the 1 that interests me certainly the most. It's 92 meters at 0.34% Speaker 1: tungsten, and hole 46 at Schofield. Speaker 1: I was wondering just for viewers who don't look at tungsten intercepts all day, fair enough. Speaker 1: Could you put that in context? What does a hit like that sit in the global tungsten world? Speaker 2: Yeah, it's interesting. Speaker 2: I was thinking about exactly that last night, Speaker 2: and obviously all we can quote is the Tungsten, Speaker 2: which is what we should do. But Speaker 2: I almost want to put in a Copper equivalent or something just so investors can understand the magnitude of that. But obviously the width is there's, that's an easy 1, 92m is Speaker 2: a Speaker 2: pretty chunky section of core. But Speaker 2: I think a good way for investors just to understand what that looks like. And once again, we can't put it in our press release, but you take the price of tungsten, which is about $300, 000 Speaker 2: per ton. Speaker 2: The price of Copper right now, I know it's on the move right now, but I think for all intents and purposes, it's about $10, 000 a tonne. So chunks of that current price is about Speaker 2: 30 times more valuable. Speaker 2: If you want to convert it yourself, Speaker 2: You can take the relative values of the 2 metals and figure out what that looks like. Speaker 2: But certainly in a Copper equivalent world, Speaker 2: I think investors and Speaker 2: followers of the industry would really appreciate how good that intercept is. But I think it just shows that investors are still getting up to speed on tungsten. It's a new metal. Speaker 2: I'm Speaker 2: pretty confident that in the fullness of t...