Categories: Precious Metals
Topics: General Precious Metals

Kingsmen Resources (TSX-V: KNG)(OTC: KNGRF) CEO Scott Emerson on New Discovery at Las Coloradas Silver Project Drilling 1,742 g/t Silver Equivalent over 0.7 Meters

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the very happy president of Kingsmen Resources (TSX-V: KNG)(OTC: KNGRF). He also happens to be the largest shareholder, the president of Kingsmen, Mr. Scott Emerson.

Scott, congratulations are in order, sir, first and foremost. How are you this morning?

Scott Emerson: Thank you, Gerardo. I'm ecstatic to say the least. I'm extremely happy. We've been patient. Well, we went through this initial drill program, and it's starting to come to fruition here for us and all the shareholders.

Gerardo Del Real: Well, let's get right into it. The big question, the big looming question that everyone had was, does mineralization extend below the water table? The second question was, is it going to be continuous? And then the third question was, okay, maybe it does extend below the water table, but is the grade going to hold up? Hole number one just intersected 1,742 grams per tonne silver equivalent over .7 meters. The .7 meters is important because the past producers on this project were mining that stuff, right?

Scott Emerson: That's correct.

Gerardo Del Real: Excellent. Also important, you hit it at 190.85 meters. Very first drill hole, the first assay, congratulations. I got to emphasize that you also hit a wider mineralized zone of 138 grams per tonne silver equivalent over 13.35 meters. Please provide context on hole number one. I know it's one hole, but I have to believe that having all those looming questions answered in such a positive way is satisfying and exciting because the bottom line is you have 26 million shares outstanding, a tiny market cap, and a company with similar drill results, a project, Los Gatos, that recently were published was ecstatic for very similar results, and they're just up the street and got taken out for over a billion dollars Canadian. So congrats, Scott. Tell me how you're feeling. Tell me how it looks. Tell me what you learned on this first hole.

Scott Emerson: Well, what I might add to that with respect to Los Gatos is their mineralization was hit at depths of 900 meters. We're talking about 125 meters here is where our intercept starts. So we're much shallower in the system. And just to cover off a few points, Gerardo, that you mentioned. So what we've been able to do, our thesis was always does it go along strike and does it go below the water table, and I can tell you this first hole has demonstrated that it does.

Now, what's lurking even deeper than what we drilled, who knows? And that's going to be a follow-up that we're going to have to do here. I'm getting sidetracked because I've got a million things in my head right now. I apologize, because we're moving at such a fast pace. But I guess you've touched on all the highlights here. You can see the silver equivalent, and why we did the silver equivalent... And in the press release, if your listeners go to it, I have also put in there that 1,028 silver grams equivalent over 1.45 meters is 455 grams of silver. So we're into the kilo numbers with this.

And I think where I'm going with this is we've got the GoGold operation, which is, they call it Parral. It's the same as the city Parral, but they're producing silver lead, zinc, copper. It's everything that we have discovered here. They are producing from tailings from the old Parral mine that was in the city of Parral. So I draw that analogy because that's why we're doing what we're doing and that's why we love this district.

Gerardo Del Real: You nailed that. An important point that I think is worth expounding on. So this is one hole, right? And so the first question that I'm going to ask you, and then I'll follow up with my point. Look, these are great grades, right? You have phenomenal grades. It's very shallow. It's the same type of stuff that GoGold is hitting. It's the same type of stuff you're seeing throughout the Parral district with existing infrastructure in place that can absorb further down the road, and we're early stages here. But this is a past producing producing district. And so eventually I think there's going to be conversations about Kingsmen and its feed providing a natural supply to what's a depleting supply over on their side of it.

But I did want to touch on whether or not the other holes have similar looking rock, because you can see when the rock, it looks good, but we didn't know what that grade was going to translate to. We now have an indicator and it's only one hole, I'll caution that. But this is exciting as all heck to me to start in the kilo area with hole number one.

Scott Emerson: Yeah. I think to your point, I've always said we could see the sulfides in the drill core. So I'm going to tell you that the other holes look very similar. I'm going to preface that with, well, we could always see the sulfides. It's a question of do those sulfides carry? So now with this hole that we've just announced, we can see that those sulfides definitely do carry. We see no oxidization in that course. So we know we're below the water table, so we don't have to talk about that anymore. And am I expecting similar or more? Yes, I am. I think I'm allowed to say that.

Gerardo Del Real: Excellent. No, no, no. That is the expectation based on the visuals, right? And we'll caution that visuals are just that, we won't know until we have the assays.

Scott Emerson: Correct. Correct. And I tried to include some visuals in the press release. So you can see we've got some photos there of the core, of what it looks like and the pertaining minerals that are in that core. So we're seeing that and we're seeing that in the drill holes that we've drilled.

Gerardo Del Real: I have to tell you, Scott, one, congrats. I'm happy. I'm excited as a shareholder. Two, the holes did take longer than I would like. That's always the case with me, right? But I know that we were hoping to have results back a couple of weeks ago in an ideal world. I know we don't live in an ideal world.

I say all that to ask, when do you anticipate the next couple of holes to come in to give us an indication of what it looks like a hundred meters away, what it looks like in some of the other sections that you drilled off?

Scott Emerson: Yeah, I would think here in the next two to three weeks. And again, I say that optimistically because I would've thought when we were at Beaver Creek that I would've started to get some results. So everybody's in the same position that Kingsmen is in terms of results in the lab, it's taking a little longer than normal course. But I would think in the next two to three weeks we're going to start to see more information.

Gerardo Del Real: Scott, it's a heck of a start. It doesn't happen very often that on hole number one you hit 1,742 grams per tonne silver equivalent over nearly a meter, and that you're able to do that at shallow depths and that you're also able to prove a wider mineralized core, with that 138 grams per tonne silver equivalent over 13.35 meters. To have all that at 200 meters and less depth, heck of a start for hole number one, sir, can't be more excited about the rest of the holes. Anything to add to that, Scott?

Scott Emerson: Well, all I can say, Gerardo, is we've come a long way from when we first started to talk when we put the land package together and look where we are today. We've done that I think in an incredibly short period of time, and we're starting to understand the mineralization of this area, and I can only think of better things down the road, and that's on this project. And I want to say again, we've got project number two coming under our belt, which is the same philosophy that we put here, and that is when you're in a district, a past-producing district, you put modern technology and exploration into it, and good things come from it.

Gerardo Del Real: Couldn't agree with you more. I want to talk about the other project, which is a gold silver project. I don't want to do that now because Las Coloradas absolutely deserves its flowers today on this first hole. I will ask you one last question, Scott. I got to believe that initial indications are highly encouraging for an aggressive follow-up drilling program at Las Coloradas. Is that accurate?

Scott Emerson: Yes. This property deserves to have a big program on it, and that's what our objective is going to be in the coming months.

Gerardo Del Real: Excellent. Scott, thank you so much. Appreciate your time.

Scott Emerson: Thank you, Gerardo. Bye-bye.

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