Categories: Precious Metals / Energy
Topics: Gold Stocks / Lithium Stocks

Lion Rock Resources (TSX-V: ROAR)(OTC: LRRIF) CEO Dale Ginn on Positive Maiden Drill Results at Flagship Volney Project, South Dakota, Confirming Lithium-Dominant, Multi-Critical Mineral System with Additional Gold Results On-Deck

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president & CEO of one of my largest personal holdings — that’s Mr. Dale Ginn from Lion Rock Resources (TSX-V: ROAR)(OTC: LRRIF). Dale, how are you this morning?

Dale Ginn:  I'm doing well. How are you?

Gerardo Del Real: I am great. Listen, it's a good day to have you on. The stock is down about 15% to 17% right now, and I think there's some confusion as to the news you released today. Because when I saw the news, I looked at 25.4 meters of 0.8% lithium, and 1.3% over 14.3 meters. I see 10.6 meters of 1.6%, and 5.7 meters 2.3%. And then I look and see the critical metals credits in Hole-6. 

So of the first four holes, all of them hit lithium. Hole-6 hit critical metals. And it's all really, really shallow. So for a first release to just report on four holes, I thought the news was fantastic. The market clearly disagrees with me for now.

But I think the second part is — and I know this because I had a shareholder reach out to me — I think people were wondering why there wasn't gold in the release. And I wanted to make sure that we start the interview off by emphasizing that these were the lithium and critical metals holes only. These were not the gold holes, correct?

Dale Ginn: Yes, that's right. We focused first on the lithium with all of the other critical minerals, as you said. As for the gold — we're working on that — but they are two separate things. And we don't want to confuse people so we kept the critical minerals together, and the gold will be out shortly as well.

Gerardo Del Real: You're on private land and you're in the US. There are a lot of advantages that come with that. There were hits of good-grade tin, there's some tantalum, there's some other critical metals in there. From the limited drilling that you've done and the results that have come in, what are you understanding as far as the system?

It's a unique land package. There just aren't very many stories out there right now that have the potential for good gold grades and lengths and also near-surface, good-grade lithium. And, oh, by the way, we have tin and tantalum and cesium and some of these other critical metals as well. It's a unique story, and I think explaining it in proper context is important.

Dale Ginn: Absolutely. The thing to note about these first four holes is they're all from the south end of what we know in the lithium- and critical-mineral-bearing pegmatite, and they're the first results we have. It's all basically at or near surface.

And they do not represent the full width because, for the first holes, we had to collar right in the pegmatite and kind of go in both directions to try and get full width. Now, if we were to step back — which we will do in the next phase — then you'll be much deeper.

So we had to test it because it's basically the first drilling ever on these units.

Gerardo Del Real: And the other thing that I want to emphasize, because I know there was some confusion there — the holes are open, right? I asked you off-air why there wasn't mineralization down dip or at depth, and I would love for you to address that because I think that is worth clarifying as well.

Dale Ginn: Yes, the holes were collared in the pegmatite, so you're going to see the intersections at or near surface. They're open below. They're open down plunge. And at least in this first batch of holes, there's no way to do anything other than that.

So no, they're not closed off. They're open. The strike length will show itself in the next holes once we get the results, and you'll see nearly the full length of the property covered with this drilling, and there will be results for all of that.

Gerardo Del Real: It looks like on the lithium side, the grade is holding up thus far. And even if the widths aren't two or three times what was reported here because of how the holes were collared — let's just say, to play devil's advocate, that you're consistently going to hit 10, 20, 30 meters of 1%+ lithium.

If that's the case over a kilometer or two kilometers or three kilometers, that tonnage adds up very, very quickly.

Can you explain for people that may be new to the project the potential strike length on the gold side and on the lithium side? Because again, I think the market so far is not understanding the potential for scale here on both fronts.

Dale Ginn: Yes, and we did not cover the full width. It'll be larger than what our drilling shows once we're able to cross the full unit, and additional holes will show that. And you will have a strike length of half a kilometer plus — basically up to a kilometer. There are other pegmatite lenses on the property as well that we haven't touched.

And like I said, it’s wide open down plunge. There is some geological interpretation to do to figure out the plunge and whatnot. There are some structural controls but that actually should give us some even sweeter spots in terms of grade and other minerals.

As far as the gold goes, a lot of it will be brand new. If the numbers come through from what we've seen in terms of the alteration and the mineralization, there will be a number of brand-new gold zones at surface here.

So all of it added up — it's all at surface. If you get any kind of consistency on the lithium or the gold, it's all at surface on private ground, with great access. So I don't know of any better situation, to be honest.

Gerardo Del Real: Agreed. And I know the stock is down today. One day does not make a trend. I'm a happy shareholder. This is a heck of a start to the program.

I cannot wait to see what kind of gold grades and widths and where you're able to find that stuff. I know the labs were extremely backed up. I know it took a bit to get this set of results in. 

Any indication on whether the gold results are starting to trickle in, and any indication on when you think you might be able to get something out to market?

Dale Ginn: Yes, the gold values are trickling in, and our geos have been working hard to get the first batch of the lithium results out. Now that the framework is in place modeling-wise, that means the press releases will come sooner and more often now that the numbers are starting to roll in.

And yes, the labs — they kind of give us a timeline of one thing, and it ends up being quite a bit longer when they're busy. It took us over two years to get the property deal, and then you go through permitting and whatnot. There's a lot of patience involved in this business, as you know.

Gerardo Del Real: Absolutely, and hopefully I'm having you on here in the next week or two and we're talking gold and we're talking potential discoveries. That's what we're doing this for.

We want what I think has the potential to be one of the most exciting exploration projects here in North America — with lithium, critical metals, and gold. Scale and continuity are going to be key. Heck of a start on the lithium side, proving that over a small distance. Let's see what the rest of the holes demonstrate.

And then last but not least, Dale, I want to just make sure that the audience understands: the holes that are left to report are one set of gold-only holes — is that accurate — and one set of gold-lithium holes?

Dale Ginn: Yes, correct. We're trying to keep the gold reporting separate from the lithium just for ease of understanding. But you're right — there is a set of gold results to come, and then for the rest of the holes, there’ll be gold, critical minerals, and lithium.

Gerardo Del Real: Excellent. I can't wait to have you back on, Dale. Thank you so much. Congrats on a great start to the program, and looking forward to more gold and more lithium numbers to get a better picture of potentially what we have here. Thanks again.

Dale Ginn: Okay, great. Thank you very much. Talk soon.

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