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Topics: Copper Stocks

Algo Grande Copper (TSX-V: ALGR)(OTC: ALGRF) CEO Enrico Gay on Hitting 30.23 Meters Grading 1.5% CuEq, including 3.55 Meters at 9.4% CuEq and 1.2-Meter Interval at 15.8% CuEq

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Algo Grande Copper (TSX-V: ALGR)(OTC: ALGRF), Mr. Enrico Gay. Enrico, how are you doing this afternoon, sir?

Enrico Gay: Good, Gerardo. How are you? Thank you so much for having me.

Gerardo Del Real: I am well. We are at conference season. It's that time of the year. We're past the summer doldrums, activity’s picking back up. There's volatility in the overall market. Copper just recently hit an all time high. All the fundamentals are in place for much higher prices. What a perfect time for Algo Grande Copper to intersect 30.23 meters of 1.5% copper equivalent, including 3.55 meters at 9.4% copper equivalent and 1.2 meters at 15.8 copper equivalent.

Congratulations. It's early. It's partial assays from a hole. A lot more to come, but you got to be feeling good about the grade and the width of the mineralization here.

Enrico Gay: Yeah, totally. I mean, the success so far, first of all, it's just one drill hole, and actually not even the full hole. So it's the first 200 meters that were assayed. So, there is a lot more coming.

My chairman, Raymond Jannas told me a long time ago, he's like, "I told all my investors and all the stakeholders at Atex, this is not the best hole we're ever going to drill and it's not the worst hole we're ever going to drill." And he basically, pretty much said that on every hole.

It's not one hole that makes or breaks a drill program. I think you got to look at the model, how that's coming together. Is there any surprises? For us, the big thing about this first 200 meters was that it happened a hundred meters closer to surface than we were expecting based on the historic data.

So, we actually opened up the model and added tonnage in that area. The grade was obviously very, very, very nice to see with those intervals that were also specifically very high grade in silver and gold. But ultimately, we, internally at the company, the geologists, we're all very excited as the model’s coming together, I would say. And also holes three, four, and five, all hitting mineralization, just corroborating the model, corroborating the work that the team is doing.

We're very excited to eventually publish our new Adelita model, and what we think we're seeing here in this specific area, which is the Cerro Grande Skarn area, which by the way is only 5% of this total license and it's only the upper section of the seven kilometer limestone package. So, I'd say this is, as far as I see it, just kind of the tip of the iceberg in terms of the work we're doing, but definitely very happy with the results so far.

Gerardo Del Real: You mentioned that this is just a partial result from the first hole, and that you have visual mineralization in holes two, three, four, and five. When do you anticipate those to start coming back in?

Enrico Gay: So, we have a very good situation with ALS right now. All of our samples get cut and sent to ALS at their Hermosillo lab on a weekly basis. We know the rest of hole two was sent, maybe three or four weeks ago. So we're expecting that the remainder of hole two to come out any day, I'd expect it within the week. And then, hole three, partial of hole three will come out probably in the next two weeks. We're sending the remainder of that.

So I would say to simplify it for viewers, I would be expecting assays to come out on one hole or more every two to three weeks. Let's just be conservative and say every two to three weeks we should have one full assay out. So, really in the next two months, two and a half months, are going to be definitely, definitely one to two drill assays per month. And they're just going to keep coming. So this is just a start.

Gerardo Del Real: Exciting times. It's early, but it's a heck of a start to this drill program. You're well capitalized. How's the treasury looking?

Enrico Gay: Treasury is good. We raised 4.7, almost 4.8 million at the beginning of September. September 1st we closed it, plus what we had in the treasury. We're in a very, very good place.

Gerardo Del Real: Exciting times. It's going to be busy. I suspect that you'll be making the rounds at the conferences here over the next several weeks and months. Is that accurate?

Enrico Gay: That is accurate. Yeah.

Gerardo Del Real: Excellent. Excellent. Enrico, it's great to have you on. Looking forward to having you back. Really excited to see what the grades are looking like in the remaining assays that you have pending for the holes, where you've already seen the visual mineralization. Anything else to add to that?

Enrico Gay: No, just be on the lookout for more news. And I think hole three is particularly important, because it's a hole that tells us a lot about the true width of the Cerro Grande Skarn, especially in this particular area. So I think that's going to be very, very important. And we're seeing evidence for a total new skarn system on the other side of the mountain that we intercepted, roughly 600 meters into the hole.

So it's all coming together. Early days, but the model's coming together and we're really excited to put out the news on all this as it comes out. So yeah.

Gerardo Del Real: Excellent. Enrico, thank you again. Great work. Appreciate it.

Enrico Gay: Thank you, Gerardo.

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