Categories: Precious Metals
Topics: Gold Stocks

V TEN Metals (TSX-V: VTEN)(OTC: VTNMF) CEO Blair Way on Diamond Drilling at the Tanami Project

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president and CEO for V TEN Metals (TSX-V: VTEN)(OTC: VTNMF), Mr. Blair Way. Blair, great to have you on for an update. How are you today, sir?

Blair Way: Doing great, Gerardo. It's good to catch up again and give you a bit of an update of how things are going in the Tanami.

Gerardo Del Real: Well, listen, you have wet weather where you're at, I have wet weather here in Texas, and we're likely talking about the drill program, and some of the water encountered, and why that might be good, and why it's a pain in the behind. But, we are where we are.

Can you give us an update on the drilling? My understanding is that we started with the RC drilling, encountered some water, and now, and it might be a blessing in disguise, I believe, we're pivoting to diamond drilling, which I'm excited about, because I think it's going to give us a much better peek-through, a much clearer window, if that makes sense.

Blair Way: For sure. I mean, it's kind of ironic that we're in a desert in the middle of Australia and we're having water table issues. It's not something you would normally expect, which is why RC, the reverse circulation drilling, which uses air, not water, for drilling, is a normal path. It's also an inexpensive drilling method. So, that's why we started with it and we were able to drill a few holes down, but we encountered some of this water subsurface, and it just made sense that we actually pivot, say, rather than just continue on with the RC, let's take advantage of the water and use the diamond drilling to drill a little bit deeper. And also get... Ideally, it reveals, or will give us a better sample through a core, rather than cuttings that you get from RC.

Gerardo Del Real: Now, the project has a suite, potentially, of different metals, right? It's nickel, copper, gold, PGE. Are you assaying for all of those things? I mean, I remember, back early in the PMET days, copper and gold, pretty high-grades were encountered, was then Corvette, and you decided to assay for the lithium, and the rest is history, right? Is this going to be the same playbook?

Blair Way: Absolutely. I mean, as you know, this is new ground we're drilling. So, obviously, we're chasing copper, nickel, PGEs. But, at the same time, once you have the sampling with the lab, you're better off to pursue the multi elements, PGEs, and get as much data out of it as you can because, as we know, sometimes those multi elements reveal something that you may not have been looking for, but it turns up, as we obviously learned with the discovery at Shaakichiuwaanaan and with the cesium.

So, ideally, you always do multi-element assays, unless you're so clearly focused on one element and you know that's all you're chasing. But, in this scenario, we're in very much greenfield drilling and we're chasing geophysical targets. And you can have a theory what's there, but sometimes you can be surprised by mother nature. So, you want to do the multi-assay, just to be sure. And that's exactly what we're doing.

Gerardo Del Real: Well, look, you're clearly in the right neighborhood. You have a joint venture partner in Newmont that holds, essentially, a joint venture on 50% of a different portion of the project. Obviously, this portion of the project being 100% owned by V Ten. And I know it's a first pass program. We're trying to understand what's there, or, potentially, vector into something that's rich, but I can't wait to get the assays back. And, obviously, we all want a discovery right off the bat. In this case, yes, I want a discovery right off the bat, but I will absolutely take a technical success that gets us a much better understanding of where the richer parts of the system are. And that's what's exciting about greenfields exploration, right?

Blair Way: Yeah. At this stage, you really are literally chasing for sniffs, those sniffs that allow you to zero in with that data, to better target and thereby increasing your confidence in what you're chasing. But, we have a high level of confidence in the targets, but you have to prove it up with a drill hole. And that's essentially what we're doing, get the sniffs. And then, the next steps after that is to actually chase it, follow it through, and find the extent, and how far it goes. But, that's what's fun about a truly greenfield project like this, is you are starting from scratch, but the opportunities are sort of unbounded. We just have to do the work and chase the targets.

Gerardo Del Real: Well, looking forward for the resumption of drilling, with the diamond drilling that's coming, and then, obviously, really looking forward to assays and getting to know more about what's potentially there. Anything to add to that, Blair?

Blair Way: Yeah, no, for sure. I'll provide updates as we continue to move into the diamond drilling, so people can certainly feel confident in what's being undertaken up there. But, at the same time, as soon as we are clear on the timeline from the labs, which is always a challenge to get them to pin them down. When they deliver them, we'll also provide those updates. And then, of course, we are due an update with our Newmont JV, so I'm hoping to have something through on that in the coming weeks. I'm not sure of the exact timing yet, but we do have regular updates. And, as a result of that, I'll be able to provide that to the market, also.

Gerardo Del Real: I know you're always looking at projects. I know because of your track record and success, obviously, you're always getting offered projects. Are you still potentially looking at adding to the portfolio?

Blair Way: For sure. As a company like this, we're a single asset company. It always makes sense, in this game, to have multiple assets that we can work in different ways, whether they're in JVs, or otherwise. And so, we are definitely on the lookout for them and I've been talking... I literally got off the phone prior to this call from having a conversation with a well-known prospector, who we worked with in the past, and we hope to work with again in the future.

Gerardo Del Real: I'll let you leave it there, because you're being coy and I understand what that means, but I look forward to hopefully something materializing. We've had phenomenal success in the past and looking forward to phenomenal success again, here in the not-too-distant future. Thank you so much, Blair.

Blair Way: Thanks, Gerardo. Always great to catch up.

Gerardo Del Real: Cheers.

Blair Way: Cheers.

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