Categories: Precious Metals
Topics: General Precious Metals

Kingsmen Resources (TSX-V: KNG)(OTC: KNGRF) CEO Scott Emerson on Proving Geologic Model Beneath Water Table & Along Strike

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president, CEO, and I should mention, the largest shareholder of my largest personal pure-silver-with-some-gold play in the space. I'm talking about Scott Emerson from Kingsmen Resources (TSX-V: KNG)(OTC: KNGRF). Scott, it's great to have you on. It's an exciting time. Silver looks like it's ready to break past the $40 mark on the spot, doing so in the futures already. Gold with a brand new all-time high. You and I are going to see each other at Beaver Creek.

And you just had some news here recently that I think went over a lot of people's head. And this is why I reached out. Because I read it and re-read it and then re-read it. And the news is you updated the drilling progress at Las Coloradas Silver Project in Chihuahua, Mexico. So you drilled 3,227 meters in 12 core holes. And I know from extensive conversations with you and the team, I interviewed Charlie here, I've interviewed you before, we've talked about it.

But one of the prime focuses of this program was to prove two things. One, that mineralization extends beneath the water table. Nobody had ever tested it. I mean, the old timers in the '40s and '50s literally picked the stuff up that they could see silver sticking out of, and they discarded the rest. They didn't even test for wider widths, they didn't test for lower grade, they didn't care. And so we wanted to see if, below the water table, which has never been drilled, encountered the same type of rocks that were host to the mineralization up top. And then we wanted to know if that extended over the many kilometers that this system runs for.

And so when I read in the release that both of those objectives were met, and yes, the stock has had a positive move, but it hasn't been the move that I thought it would have. And maybe people are being cautious with assays pending. But I had to have you on to ask you about it. That was a mouthful. So did we achieve those outcomes, Scott?

Scott Emerson: Well, Gerardo, thanks for having me on again. And yeah, that was a mouthful. And what I'm going to say is, yes, we've completed our initial drill program with 3,200 meters. I would like your listeners, maybe who have listened to me before or are first timers, to go to our website to look at the old long section that we have posted from 1944 when Los Coloradas was in production.

Gerardo Del Real: Let me explain something Scott really quickly, how they can get there because I don't want them to get confused, look at the corporate presentation and not see that in there. So everybody, if you go to the Kingsmen Resources website and you click under projects, you click under Las Coloradas and you click under historical long sections, I believe is the title of it. You'll see where that was. Is that accurate?

Scott Emerson: That's correct.

Gerardo Del Real: Beautiful.

Scott Emerson: So if you do that, you can see what the old timers mined, the widths and the grades of those veins that they mined back in the day. We have every expectation that what we've drilled and what we've encountered in this program should be similar or better than what they did. And I say the reason better because, in your introduction, Gerardo, you had mentioned some low grade, but that low grade is mixed in with the high grade. So if you take a one meter section, that's very high grade. And then to your point, back in the day, they did not assay, well, they didn't even because they didn't drill it, they just mined the vein, there's mineralization that exists above that intersection and below that intersection. It may not be as high grade as the initial intersection, but it all adds and it gives us width, which is important, and I think that's what should come across in this press release.

In addition to that, this program was 3,000 meters, and I say this because that's the equivalent of just a little over two miles of core, to put it in perspective and what's being processed. But we took sections of the two known structures, the Soledad and the Soledad II, and we drilled on those. So we didn't step out like 1,000 meters from where the old mine existed. We stepped out 100 meters.

So we've only drilled a very, very small section of this entire property. In fact, we haven't touched some geophysical anomalies that we identified in our program, but those are going to be drilled. We just haven't got to them yet. So this initial program's going to give us the confirmation of our theory, and then what we'll do is we'll start again, the drill program, we'll start a phase two drill program. And I think I put it in the release. We've got the drill rig. It's sitting there so we can activate right away. We're just waiting on assays.

Gerardo Del Real: Excellent. I'm not going to ask you the million dollar question because I've asked you 100 times, and I know that assays are being done in an expedited fashion as quickly as you can turn them around, like everybody else. I know that we'll be at Beaver Creek. I'm looking forward to catching up there. I know that I personally as a shareholder am hoping to have a glimpse as to the grades down beneath the water table, which again, everybody's hopeful continue on, and maybe even increase that depth.

But I am highly, highly excited at the fact that the mineralization does extend in the same rocks underneath the water table, and it does so across length. Because you mentioned testing near where the old mine workings were, but those were extensive. So you didn't have to step out. You needed to prove that stuff is down there beneath the water table, because if you can prove that, then you know kind of the multi-kilometer strike length with the parallel trends that you have to explore down beneath, is that accurate?

Scott Emerson: That's accurate. 100%. That's what we want. And I'm like you. I'm awaiting, and I guess it's a patient wait.

Gerardo Del Real: I love that. It's an impatient wait on my end always. But I will say this, the last thing I want to make sure comes across in this interview, when I say that the old timers in the '40s and '50s that mined the stuff that they could see, that they didn't care for the lower grade. I'm speaking from the perspective of someone in the '40s and '50s, folks, when silver was not at $40. So lower grade today could be a fantastic grade today if it runs for widths and many, many meters, right?

Scott Emerson: Right. Mixed in with that higher grade, that's what we're looking for. And again, Gerardo, I go back to why we put this company together. And I think why you, as a shareholder and your group, the significant shareholders we have, the best place to find a mine is where there was a mine. I stick with that because if you look in Mexico as a whole, there are not new discoveries being made in the sense that it's virgin territory. The discoveries that are being made are from mines that were produced back in the day. I'll close with that. That's why we're doing what we do.

Gerardo Del Real: No, I love that. Can't wait for the assays. Looking forward to having you back. Thank you for coming on and clarifying the objectives of the program, and the fact that, at least for the time being, you feel like you've accomplished that, excited to see if the grades hold up.

Scott Emerson: And go, silver, go.

Gerardo Del Real: Go, silver, go is right. Thank you so much, Scott. Appreciate it.

Scott Emerson: Thanks, Gerardo.

Gerardo Del Real: Chat soon. Cheers.

Scott Emerson: Bye-bye.

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