Turmalina Metals is the high potential copper explorer on the cusp of discovery—I see it as The Next One in Bryan Slusarchuk’s career.
The imminent drill campaign—announced just this morning—has the potential to transform the company in the eyes of investors as they develop their high-grade copper discoveries.
He’s following the same path as K92 Mining (KNT-TSX) from a few years ago:
- Attract the best geologists in the world
- Go buy/option the best assets in the world…
- …That have One Big Feature that was overlooked by previous operators
- Go make a Big Discovery that can turn into a highly profitable mine!!!!
He has already done ALL that with Turmalina. But RIGHT NOW, I see this next round of drilling at their Chanape and San Francisco assets in South America as THE turning point for both management and investors. Fully funded, drilling is starting immediately, and will last for months. News flow will be non-stop.
The first time he hit the jackpot with Turmalina was with director Chico Azevedo, who worked for 40 years in exploration for companies like GENCOR, IAMGOLD and Goldfields, where his team was responsible for the discovery and or development of two world class gold deposits.
Azevedo’s job was to find overlooked assets—specifically, very high-grade deposits that MOST companies—especially the big global mining giants—only used as vectoring tools to find colossal, multi-decade mining plays.
Here’s what I mean: The Andes mountain range in South America is known for big copper-gold deposits, huge earth moving projects that generate fabulous cash flow for DECADES—but cost a fortune to build and years to develop/get social license.
One of the tell-tale signs of these big deposits is a smaller but potentially super high-grade top, called a breccia. On their own, these assets make no sense for the global super-majors.
(Just like Barrick Gold wanted a mammoth coppery porphyry deposit out of K92’s land package, and ignored the ultra-high grade gold veins that were right beside their mining operations! K92 has developed that into one of the most profitable mines in the world and gave investors a 10x return in 2019-2020!).
BUT…for a company like Turmalina, these breccias can be incredibly lucrative! They are by definition high-grade and small, and usually operate under the surface—so it doesn’t take much money to get them built.
Slusarchuk has made a fortune for investors with this method—great team, overlooked asset and WOW—K92 went from 40 cents – $10 in three years.
Drills should be turning right away on the San Francisco Project and shortly after on Chanape! And the hard work is already done—they have found FIFTY!! breccias at Chanape with very high-grade copper in those tested to date. In a world where mines now operate with 0.25% copper, Turmalina’s results give investors a world class opportunity: in the last three months they had drill holes of 48.05 meters of 3.8% copper equivalent, 70.15 meters of 1.62% CuEq and 49 meters of 1.3% CuEq!
While most companies turtled during COVID, the Turmalina team did the opposite—they went out and increased their land position 10x in an existing play, and secured the Chanape Project, one of the top high-grade copper plays in the world, in South America.
They optioned it in 2020, when nobody else was looking at big assets. Chanape had been drilled by another junior, 10 years earlier, looking for a BIG, low-grade copper deposit called a “porphyry.”
They didn’t find a porphyry, but they did hit 100 meters of 2% copper! But then, the last big mining cycle, size was king; it’s what investors wanted. In this cycle, GRADE IS KING—and a drill hole like that is part of the reason Turmalina wanted to get Chanape. Find an asset with an overlooked feature.
This is textbook to the plan that Turmalina is after—proven high-grade over big distances that can create that all-important critical mass of tonnage…SIZE…to create an economic deposit and then a mine.
Azevedo and Turmalina are not there yet. But this next drill campaign has the best chance at giving the Street enough data to see the potential for one. And as soon as that happens—shareholders benefit.
There are more than FIFTY (5-0!) breccias clustered together at Chanape, and they have already found that a few of them sit on top of or adjacent to each other.
That’s how you rapidly create shareholder value: you only need a mini-cluster of breccia’s—at these very high grades—to achieve critical mass. Something to the tune of 15—fifteen—million tonnes of mineralization of the grades they are getting at Chanape might be all it takes to get the Street excited about the potential for an economic deposit.
Folks, you probably have no idea how low a bar that 15 million tonnes is—that’s roughly 250 meters x 250 m x 80 m, or the size of a normal city block.
These grades that they’re hitting in drill holes—1.3% – 3.8% copper equivalent—means Chanape only needs a few more drill holes like those to get the Street excited.
THEY’VE DONE IT BEFORE
Turmalina is a marriage of the best finance teams—headed up by Bryan Slusarchuk—and the best technical teams—who report to Chico Azevedo.
At K92 Mining, Bryan took a great team and helped made a billion dollar market cap mining producer. Turmalina is his new focus.
He and Chico Azevedo used the COVID downtime wisely— securing Chanape, and increasing their land position 10x—from 3400 to 40000 hectares—in their second breccia-rich area, which is in the same Province of Argentina where Filo Mining hit big, and made investors 10x their money last year.
All the surface work is done. They collected tens of thousands of samples, collating and mapping and generating almost a dozen high priority targets that are about to get drilled RIGHT AWAY.
And they have already hit super high-grade copper in both their main properties—Chanape and San Francisco.
High grade discoveries have already been made at BOTH properties. We are now at the inflection point: continued success will give the Street a sense that there is enough tonnage to potentially make a deposit; a resource. This kind of grade more than makes a mine—they just have to keep drilling more of the same.
That’s not easy. But the stock chart of K92 Mining says I’ve got the right team. The stock chart of Filo Mining says I have the right area. They’re about to drill 12,000 meters—continued success can lead to a HUGE shareholder win.
Bryan knows how to get the Market to care about his stocks. With high grade discoveries made, it won’t take much. I’m long and I’m ready.
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