Categories: Precious Metals
Topics: General Precious Metals

Kingsmen Resources (TSX-V: KNG)(OTC: KNGRF) President & CEO Scott Emerson on Hitting 270 g/t Silver Equivalent on a 1.5 km Step-Out at Las Coloradas

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president & CEO — and I have to say it every time because it matters — the largest shareholder of Kingsmen Resources (TSX-V: KNG)(OTC: KNGRF), Mr. Scott Emerson.

Scott, it’s great to have you back on. We were way overdue. Happy New Year, sir. I know we had the holidays here for a couple of weeks. It’s great to have you back. How are you today?

Scott Emerson: Thank you, and Happy New Year to you and your listeners. But really, did we have a big break, Gerardo? I don’t know.

Gerardo Del Real: Yeah, I think, publicly, shareholders like myself that have been anxious to get assays and results, it felt like it was a long break. Definitely not much of a break in the way of getting stuff done and being busy because it was plenty busy over the holidays. A lot of work went in on your end and on my end.

So it really pleases me to have you back on talking about hitting 270 grams per tonne silver equivalent over 1.3 meters. And this part’s important: a 1.5 km step-out on a parallel structure at Las Colorados.

Let’s be absolutely clear — this is another new discovery. And let’s also be absolutely clear: a 1.5 km step-out.

It’s a bit of a game-changer as far as scale goes. We had talked before, Scott, about how important this was going to be. Initially, we talked about mineralization beneath the water table, and we proved that right off the bat. Then we talked about scale, grade, and continuity — and this release, to me, has that in spades.

Let’s talk about that 1.3 meters of 270 grams per tonne silver equivalent. It should be noted: 143 grams per tonne silver and 0.72 grams per tonne gold from 56.7 meters. And that’s another point I need to emphasize — it was very, very shallow economic mineralization.

Give me your take on it, Scott. You’ve got to be happy.

Scott Emerson: We are extremely pleased. But let me just put it into a little bit better perspective for your listeners, Gerardo.

If you can envision a line — and we’ll call that Soledad I — that line we traced through sampling, mapping, and geophysics for 1.7 kilometers. So for those in the U.S., that’s about a mile and a bit. We knew the old mine sat on roughly 300 meters of that kilometer-and-a-half, or mile-and-a-half.

We then replicated that, which we called Soledad II. It’s a structure that had never been drilled. We identified it and spent — for your listeners — about a year mapping and sampling that structure.

We had pockets of surface mineralization. If you go back to our website, or many discussions you and I have had, we saw grades on surface samples ranging anywhere from 300 grams up to an ounce of silver.

As part of the program we ran last year, we elected to drill a hole where we had surface mineralization and some geophysics indicating something was going on there. So we chose to drill it. You’re in Texas — it’s wildcatting, so to speak.

What that did was identify that we do, in fact, have a big system where we are. From our discovery hole — hole number 10, the first hole we announced — we can now go 1.5 kilometers on a parallel structure and identify mineralization there. Nothing’s ever been drilled around there. It’s a single hole.

But what it gives us is an approximately 2.5-km-long structure about one meter wide. All of the mineralization we’ve hit to date has been within that area if you think of it as a rectangle.

So are we excited? I’m going to say we’re elated that all of a sudden we’re proving this system is much larger than the old mine — that 300 meters by 150 meters deep.

That also ties into the fragmented land ownership and everything we’ve been able to assemble and put together. Now it’s showing us size. And that’s what we’re after, because ultimately our exit strategy — and maybe I’m getting ahead of myself here, Gerardo — is that we want one of the operators in the vicinity to come in and say, “Okay, we’ll take what you’ve got!”

Gerardo Del Real: That was a great answer and great context. Let me play devil’s advocate. Hole-12, obviously, was excellent. It’s shallow, it’s got gold, it’s got silver, it’s got good grades, good widths, and, oh by the way, a 1.5 km step-out.

But on holes 9 and 11, I could play devil’s advocate and say, “Well, on those two holes, you missed.” How would you respond to that because I’ve had conversations with a couple of people who said, “Well, yeah, that one hole is great, Gerardo, but they missed on the other two.”

I’d love for you to provide context on holes 9 and 11 — what the targets were and what you achieved — because I know you don’t feel like it was a miss.

Scott Emerson: Well, it wasn’t a miss, so I’ll just put that right out there. So what those holes did was not miss — they were an undercut to hole 9. Hole nine returned 1.5 meters of 931 grams silver equivalent and 1.28 grams of gold. What those holes gave us was geological context. We now understand what the system is doing. So while someone might say, “Oh, well, they missed,” they didn’t miss.

They gave us the information we needed to understand what we’re chasing and following in this system. That’s how I’d answer the question — if that made sense.

Gerardo Del Real: It’s great context, and I think important context, which is why I wanted to have you on.

Now listen, when we first started on this journey — and I say we because we’ve been along with you from day one — you came to us and said, “Hey guys, I think I have a target of 200 million silver equivalent ounces.”

At the time, silver was $25, $30, $35 an ounce. Now we’ve got $75 and $80 silver that looks like it could be triple-digits. We’ve got the Saddle target. We’ve got discoveries one-and-a-half to two kilometers away.

I hate to put you on the spot but I’ve got to believe your internal target is a whole heck of a lot bigger now than 200 million ounces.

Scott Emerson:  I’ll agree with you there — purely because of the size. It’s going to take this next year of drilling. You and your listeners know this because you’ve been part of it — we financed just before Christmas. We were oversubscribed on a C$4 million financing, which gives us the capital to go out and bracket these discovery holes.

And we haven’t announced all our holes yet either, Gerardo. I want to be very clear about that. We’re still processing right now — news is imminent.

So yes, our target has expanded greatly. The Saddle target is an area identified by Larry Buchanan of Electromag — the same person who discovered LTO. We’re about to get onsite there to do sampling and mapping… the boring stuff that gets us to the drill stage. We’re excited about that, and we’re continuing to bracket the holes we’ve drilled to date.

So a lot more news over the next 12 months. We don’t anticipate additional financing as we are well financed. And as you’re good at pointing out, Gerardo, we’ve got just under 29 million shares outstanding. At a C$65 to C$70 million market cap, we still think we’re inexpensive relative to peers.

Gerardo Del Real: I couldn’t agree more. I won’t ask you about detailed plans for the next drill program. I suspect along with assays still coming, we’ll get an updated program for 2026. I also realize you’re still processing data and fitting it into the model.

I look forward to having you back on, Scott. Congratulations. It’s a heck of a start to 2026. Anything to add?

Scott Emerson: The only other thing I’d add is Almoloya, about 38 kilometers away. Similar system, fragmented ownership, now assembled. We’re excited to get on that project and drill it. So you should see drilling or results from one project or the other over the next 12 months.

Gerardo Del Real: You know drilling is my favorite value-creation tool — nothing like the ‘truth machine.’ Scott, thank you so much for your time.

Scott Emerson: Thank you, Gerardo.

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