Categories: Precious Metals
Topics: Gold Stocks

Kingsmen Resources (TSX-V: KNG)(OTC: KNGRF) President & CEO Scott Emerson on Advancing the Newly Consolidated Las Coloradas District with a New Silver-Gold Discovery, Pending Assays, and More Drilling Ahead in 2026

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the very happy president & CEO, and largest shareholder, I might add — of Kingsmen Resources (TSX-V: KNG)(OTC: KNGRF) — Mr. Scott Emerson. 

Scott, you made me wait for those assays but you got an early Christmas gift. Congratulations. You have a brand-new discovery of high-grade silver and gold mineralization.

And look, I’ll be very frank and very direct: I absolutely expected to continue getting good results from the known structures at Las Coloradas… and, of course, we have assays pending there. 

But it was a really, really nice early Christmas present to drill a brand-new discovery on a structure you didn’t even know existed, and to top it off, it’s gold-rich. Can you speak to that, please?

Scott Emerson: Yes, number one, thanks, Gerardo. Patience is what you need in this industry, for sure, as you know. And just to speak to this new discovery, I’ve got to give a shout-out to Kieran Downes, our VP of Exploration. He had a theory when he looked at the structures on surface and said, ‘There are two structures here that cross, and with the geophysics we have, I think we should poke a hole in here.’

And we did. And this was a surprise to us. It’s a brand-new discovery. We haven’t even traced that structure. We didn’t know it was there.

So for your listeners and people who have followed the story, we have two structures we’ve traced for 1.7 and 1.4 kilometers — Soledad I and Soledad II. That’s where the old mine was. Well, now we’re fairly confident we may have a third. We’ll do more work on it in the new year.

We haven’t seen gold before in the system, and with these gold hits, it just goes to our whole theory of what we were planning to do… and that’s our exit strategy. And that again adds to what has been produced in the area. I’ll leave it at that.

Gerardo Del Real: Let me provide the proper context here. The discovery hit 931 grams per tonne silver equivalent with 1.28 grams per tonne gold over 1.60 meters. 

And this is important: it was shallow mineralization from 156.4 to 158.0 meters. When you talk about exit strategy, look, you’re not a mine builder. You’ve made it clear the plan is to drill this out, prove up the silver, and now the gold potential, and monetize the asset. And you have two districts to do that with.

I love the approach and I love the urgency. It has to feel good these first two holes of the program; you’re hitting high grade and it’s shallow.

Scott Emerson:  Exactly, and it’s shallow. And I was going to say, that’s not a vertical depth. Vertical depth would be about 125 meters. So it is shallow, which is exciting for us because we think that as we go deeper in the system, the grades are going to get better.

Gerardo Del Real: We know GoGold Resources is nearby, and we know the old La Prieta Mine has tailings being reprocessed there — and that GoGold is going to want material to continue feeding its machine. 

There’s a portion of the release that I don’t think everyone caught. You talk about the mineralization being similar to that of the old La Prieta Mine. Why is that important this early on?

Scott Emerson: Well, that’s important because when you look at the operation processing those old tailings, they built it specifically to do that — and we know they’re processing gold, silver, lead, and zinc. We haven’t done the metallurgy yet because we haven’t drilled enough but it gave us confidence to say, ‘Hey, look… we’re in the same type of system La Prieta was in.’

And if you’ve followed us, you know La Prieta is only 38 kilometers away from where we’re working. So again, that gives us confidence.

And I don’t want to be over-enthusiastic here, Gerardo, but everything has started to come together. All the pieces are coming together. We started this program with no detailed geological knowledge of what was there. We know they mined there historically, but this is the first time we’re really seeing indications and starting to understand the geology — and that’s what’s exciting.

Gerardo Del Real: This new discovery was drilled 160 meters from the high-grade hole — hole 10, right?

Scott Emerson: Correct.

Gerardo Del Real: And we have 10 holes left to report from the labs, correct?

Scott Emerson: That’s correct. And when you talk about that 160 meters — for someone trying to visualize it — that’s why I said that if you draw a straight line and say this is Soledad I, draw another above it for Soledad II, and then 160 meters away from that we could potentially have Soledad III. We just don’t know yet.

Gerardo Del Real: When we started this and you consolidated the land package, I asked you, ‘What’s the target here?’ And you said the target was 200 million silver-equivalent ounces — that’s the potential you believe it holds.

Scott Emerson: Correct.

Gerardo Del Real: Then you discovered the Saddle target — a gold/silver target — and you said that could be a game-changer in terms of increasing the expectation for silver-equivalent potential. And now you have what looks very clearly to be a third structure, and it’s gold-rich. 

I won’t put you on the spot about potential size yet — I’ll wait for the other 10 assays — but is it fair to say you think the potential is now a whole lot more than 200 million silver-equivalent ounces?

Scott Emerson: We do, because you brought up an important point, the Saddle target. That target was identified from historical information. Kerr had done work in the area. We got our hands on that. And we talked originally about the Saddle as a separate deposit in itself. It’s a whole different target. It’s three miles away from Soledad. So the blue sky there is good… and we plan to drill that in 2026.

Gerardo Del Real: You mentioned patience. Patience isn’t one of the virtues I’ve mastered yet — not many, actually — but this was well worth the wait. I suspect we won’t have to wait as long for the next assays now that the financing is wrapped up. You’re cashed up and ready to drill two districts in 2026.

When do you anticipate the next batch of assays, given that we’ve had some time to process more holes?

Scott Emerson: I think we’ll see something here between now and Christmas — so in the next three weeks, I anticipate news. And then we’re going to start 2026 with a bang. We’re coming out of the gate ready to go.

And again, patience is a virtue. Along with a lot of supportive shareholders, we managed to increase the size of our placing. It still keeps the company at just shy of 29 million shares outstanding. It’s early days, and there’s a lot of growth ahead.

Gerardo Del Real: Exciting times. I’d like to remind everyone who thinks they missed being early on Kingsmen that the market cap — despite the recent run — is still under C$50 million. When we compare that to Los Gatos, the most recent big transaction in the region — yes, a much more advanced project — but that went for US$970 million for 70% of it.

So the runway between a sub-C$50 million market cap and drilling out not just one but potentially two silver-gold and gold-silver districts, there’s a lot of meat left on that bone. I couldn’t be more excited about assays in the coming weeks or about 2026.

Anything to add to that, Scott?

Scott Emerson: Yes, before you leave, I want to comment on one thing, and that’s the narrative around Mexico. You and I haven’t talked in some time. The first open-pit permit was granted here about two and a half weeks ago. 

That adds to the positive narrative around Mexico because people had become reluctant. Not that we’re an open pit — we’re not — we’re underground. But the narrative around Mexico in general has changed, and I think it will continue to draw the majors’ attention.

Gerardo Del Real: Well said, Scott. Congrats again. Looking forward to the next batch of assays. Thank you, sir.

Scott Emerson: Thank you. Bye, Gerardo.

Gerardo Del Real:
 All right. Chat soon.

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