Kingsmen Resources (TSX-V: KNG)(OTC: KNGRF) CEO Scott Emerson on The Resurgence of the Las Coloradas Silver Mining District

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president of my single favorite silver play in the junior space right now. I'm talking of course about Scott Emerson from Kingsmen Resources. Scott, we just were able to catch up in person at the Vancouver Resource Investment Conference. It felt like Kingsmen was the bell of the ball. I don't just say that because you took us out to dinner, but look, I obviously was talking my own book as I have a position that I have high conviction on in Kingsmen, but everyone I spoke with was pretty enthusiastic about 2025 and really, really enthusiastic about the last couple of news releases where you've announced that exploration has commenced. We know that the drill rigs will be mobilized here within the next month or so, and we also have a pretty significant new Silver/Gold drill target on the Las Coloradas project. A lot to be excited about. How are you today, Scott?

Scott Emerson: I'm good, Gerardo. Thanks for having me on again today. Start of a new year so full speed ahead. Where we left off in 2024, we started right back up in 2025 and it's pedal to the metal as we would say.

Gerardo Del Real: Well, listen, I was going to say the start of a new year and the resurgence of an old Silver/Gold district that for the first time has been consolidated into one continuous land package and is going to see modern exploration in the truest sense for the very first time. Can you speak to how things are coming along in the Parral Mining District, of course, of the central Mexican silver belt in Chihuahua, Mexico. I cannot wait to get the drills turning.

Scott Emerson: Yeah, well, like I said, we started off 2025 where we left off in 2024, and you mentioned the Saddle target. That was a target we identified in December that, again, was removed from where we were focused and where we're currently focused. It was something new we hadn't seen before. We spent a lot of time over the holidays and into the early part of January really digging in at that target because we feel there's some lookalike, not only to Parral itself where the old historic La Prieta mine was, but also to Peñasquito, which is in Chihuahua. It was what they call a blind target so it was a blind mineralization where you didn't see a lot on surface, but through geophysics and mapping, that's where they had that discovery. So again, it's a little bit different looking than what we're currently focused on. Best place to find a mine was where there was one. And I think to your listeners, we've talked about this has never been drilled along strike or at depth, and that's what we're planning to do.

Again, Gerardo, I'm a little late in terms of being mobilized. We started late in January to get going again, and then we had some snow, if you can believe it, on site, which hasn't been seen in a decade. It's always these things that you least expect and then they happen. But we are fully engaged. I think your listeners are going to see some more results here shortly is what I'm anticipating, and then as you said it in your last conversation with me, the truth machine will be there and we will be drilling.

Gerardo Del Real: I cannot wait. We're hoping to be drilling ... Mother nature permitting, we're hoping late February, early March. Is that accurate, Scott?

Scott Emerson: That is accurate. Yep, that is accurate. That's what the plan is. Currently, outside of all the work that's been going on in the field, we've been doing all the logistics for the drillers, accommodation, internet. All that stuff that is not readily available in that part of the world we're making all that happen. So again, that just takes a little more time, but it's progressing well.

Gerardo Del Real: I'm always transparent, right? I absolutely try to be fully transparent. You and I had a private conversation and I'm not speaking out of turn, I don't believe. My question to you and my challenge to you as a shareholder was we know we have silver. We can see the silver, right? It's a previously mined underground deposit or deposits. But will it have the continuity along strike and will it have the grade? I'm pretty confident that we'll have the grades. It's historically a high grade silver/gold, lead, zinc, copper type of system, right? The continuity is going to be really really fun for me to see if it plays out the way I think and hope it plays out. Can you speak to some of the quality work, surface work that you've done to de-risk the target as we get closer to drilling?

Scott Emerson: Yes. What I can say, Gerardo, is what I think, using modern technology, we have done the best preparation that you could do to identify these drill targets, meaning we've mapped, we've sampled, and to your point, when you said it was an old historic underground silver mine, those grades that were mined back in 1944 to '52 are the same grades that we're seeing on surface, and that's as high as 600 grams that were seen on surface. That had to come from somewhere.

We've now traced the two structures, which we called Solidad One and Solidad Two, for 1.7 kilometers and 1.4 kilometers. That old mine was only 300 meters of that distance. So that's why we're pretty confident because as we've stepped out and sampled and we've taken over 480 samples over the project area, along those two structures, we're seeing that stretched out all that distance. So again, I'm going to tell you, to the shareholders and to you, we're going to take that truth machine, but I've done everything that I can do to identify, again, the best targets. And that's what we're excited about to say, "Okay, let's get going."

Does that answer your question?

Gerardo Del Real: It answers it perfectly. And again, I want to go ahead and make sure that I provide the proper context. The target that we had in mind, the exploration target that we had discussed in the past, was the potential for 200 million silver equivalent ounces, correct?

Scott Emerson: Correct. That's our target.

Gerardo Del Real: Now, that is the target prior to this Saddle target and the Saddle extension zone that we talked about here recently. We know the grades are going to hold up, but can you tell me a bit about that Saddle silver-gold drill target? Because that has the potential. And listen, if you dig up 200 million silver equivalent ounces, I'm not going to be complaining because you have an $18 million market cap, and I can tell you the re-rating on that is going to be pretty drastic. But to have the potential to have another significant silver-gold drill target that could complement that, the upside to me is absolutely thrilling. Can you speak to that new target, that Saddle target and what it has the potential to do? Because that can be a game changer in itself.

Scott Emerson: I've been saying here since December that that Saddle target is an independent project in itself. If we just had that, Gerardo, we would be over the moon in terms of the opportunity that it presents. It's something that was completely unexpected. I don't have a hard and fast number as to what that could represent. We can do that at Los Coloradas because we know what was mined there in the past. We know the grade that was passed in the past. We know the distance, the 300 meters by 150 meters deep. So that number we can extrapolate and carry it on through those two structures that I talked about.

The Saddle target independently by itself could be a mine. I don't know how big of a mine it could be, but it has the potential, like I said, to be a lookalike to the two mines that are one past-producing and one that's currently in production.

So sorry, I can't give you a number, but I can tell you it will be a large number if in fact it's there.

Gerardo Del Real: I don't want to steal your thunder because I suspect there will be another release once the drill rigs are mobilized but can you speak to the approach, the amount of meters that you're looking to drill and what you're hoping to get out of this initial drill program?

Scott Emerson: So initially what our plan is, we are going to do up to 8,000 meters of drilling. It's going to be step-outs from the old Las Coloradas mine. It'll be along strike and again, at depth. So we'll start out by doing some shallow holes to the depth that we know mineralized existed back in the day. Then we will go in and drill the deeper holes underneath the water table to see what sits on the old mine.

Then we will go along strike of that, and we'll do step outs just to see. And they won't be small step outs because if you look at the sampling that we've done on surface, you're going to see pockets of very mineralized areas. We're going to see pockets where we've taken 50 samples and they've all run and they've run from 300 grams to 600 grams or in that range. Those are targets in themselves so we're going to step out and drill those. That's what the initial drill program will do.

Gerardo Del Real: I can't wait.

Scott Emerson: And if we have success, Gerardo, obviously we're going to fill in between the gaps and I think everything will react at that time.

Gerardo Del Real: I couldn't agree more, Scott. I'm excited. A month goes by very, very quickly.

Scott Emerson: Very fast. I'm on my way to Mexico here on Sunday. I'm on the road again.

Gerardo Del Real: Well, listen, safe travels. Happy shareholder here. Appreciate the hard work, and I suspect we're going to have a very, very fun 2025. And don't get me going on where I think the silver price is going, because I think setting up a perfect storm here in 2025 between Kingsmen and the multiple projects and a new discovery, which is what I think we're onto.

Scott Emerson: Right, and we're one of the few companies that have the pure exploration target. We're brown fields, obviously because of the past-producing mine, but we're drilling something new and fresh, and I think the market, as you said, the sentiment is there. It's paying attention.

Gerardo Del Real: I couldn't agree more. Scott, safe travels. Thank you so much for your time. Let's chat again soon.

Scott Emerson: Thanks, Gerardo. Bye-bye.

Gerardo Del Real: Bye.

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