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Kingsmen Resources (TSX-V: KNG)(OTC: KNGRF) CEO Scott Emerson on New LiDAR Surveys and Drilling at Flagship Las Coloradas Silver-Gold Project in Parral, Mexico
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president & CEO of Kingsmen Resources (TSX-V: KNG)(OTC: KNGRF), Mr. Scott Emerson. Scott, silver is fighting back, trying to get that $60/oz level back under its belt. Kingsmen, in the meantime, is drilling away, having success at those high-grade structural intersections.
And now it seems to me with today's news that you're really targeting in a much more specific way with these drone magnetic and LiDAR surveys to trace those intersections, which is exciting to me as a shareholder.
We've talked in the past. The last time we talked at the Beaver Creek conference, I mentioned to you that the two things I was really excited to see from this drill program, which is ongoing, and we'll talk about that, were width and grade, and obviously scale. And I think in the next several releases with the drill results, we're going to be able to answer some of those questions.
Why is this LiDAR survey and this work so important to you and the team?
Scott Emerson: Gerardo, thanks for having me on for this quick update. And just to put it kind of straightforward, I guess why it's important, Gerardo, is because we've been learning the geology of this district. If you recall with your listeners, this has never been drilled before.
We just went on the assumption that having an old mine was the best place to find a mine. But what we're seeing in the drilling that we're currently doing and that we've done is that wherever we've seen these cross structures where we drilled on surface, we're hitting high-grade mineralization.
So while I don't really talk about visuals, I don't like visuals because I like to see what the assays tell us. Visually, we like what we're seeing when we drill these cross structures. And hence the two holes that I refer to in the news release: 10.5 meters of 200 grams silver-equivalent and 6.5 meters of 218. That gave us confidence that, okay, something is going on here. This could potentially be blind mineralization.
I often talk about the palm of your hand and having fingers come up, and those fingers being mineralized to something that is occurring deeper in a much bigger fashion. That's why we took this approach. Let's do some LiDAR. Let's see what it gives us. And it could identify, we think, even more targets than what we currently have.
That's my long answer to your very short question.
Gerardo Del Real: Let's talk about the ongoing drilling. I think there was an assumption by a lot of people that you would stop at hole 18 or 19 and then let the rig rest for a bit. And it looks like from the news here that diamond drilling is continuing with hole 22 underway. And you're going all the way up until basically Christmas, the end of December, correct?
Scott Emerson: We're going up to Christmas break. In that part of Mexico, Christmas break is really around the 10th to 15th of December. I don't know where the impression came that we had stopped. We haven't stopped. We have been going 24/7, one 24-hour shift. And yeah, we're going to go right up to probably around December 10. That's what we're targeting right now.
And the crew is saying, "Hey, when are we going to take a break here?" Because like a lot of other companies, we have a lot of assays in the queue. We have a lot of information to come. I'm hoping we're going to get a lot of that information prior to Christmas.
Obviously, the holes we're drilling today, we're not going to get those results before Christmas, but we'll have a lot of information going up till then, and then we'll be able to start back the program come the end of January.
And I say the end of January because really Christmas goes over till about January 12. And then by the time the crew gets set up again, the drill rig will be there and everything, but by the time the crew gets on site and set up, we won't be drilling again until the end of January.
Gerardo Del Real: Excellent. And in the meantime, obviously we're going to have a whole heck of a lot of assays to be talking about.
Scott Emerson: We're going to have a whole heck of a lot of assays to be talking about. We're going to be talking about our Almoloya project, which I know sometimes gets hidden a little bit or we don't talk about it as much, but we have a plan to be active on that project as well and then to drill it. So as good as the news is out of Las Coloradas, we plan on drilling Almoloya as well in the new year.
Gerardo Del Real: Well, you have the treasury. Nearly half of your market cap is backed by cash. Drills turning, assays are pending. Look, I want to get that initial peek over at the Saddle target, which is some two and a half miles or four kilometers west of the Mine Zone.
Exciting times. Can't wait to start seeing the numbers as you receive them, and looking forward to catching up in New Orleans. I know you'll be there as well as I. Looking forward to chatting there, and hopefully we have some assays right around that time.
Scott Emerson: You got it. That's what we're gearing for.
Gerardo Del Real: Excellent. Scott, thank you so much. Appreciate it. Drill, baby, drill, and we'll be chatting soon in person.
Scott Emerson: Thank you, Gerardo.
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