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Kingsmen Resources (TSX-V: KNG)(OTC: KNGRF) President & CEO Scott Emerson “From the Field” on Start of Phase-Two Drilling at Flagship, 100%-owned Las Coloradas Silver-Gold Project, Chihuahua State, 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. Emerson Scott. Emerson, it’s great to have you back on. How are you, sir?
Emerson Scott: Good, Gerardo. How are you?
Gerardo Del Real: I am well. I’m excited to see a drill rig back there turning. I suspect you are down at Las Coloradas. Is that correct?
Emerson Scott: We are. We are at Las Coloradas. We’re on the Soledad vein right now, and as you can see, we’re fully operational. The team is working 24/7 right now.
Gerardo Del Real: Well, listen, you’re cashed up. You’re deploying that very aggressively. Tell me about the 2026 program, which just kicked off. We’re starting with Las Coloradas. We will talk about Almoloya here in a bit, but let’s start here at the Soledad structure where you’re at.
Emerson Scott: You’ve kind of hit the nail on the head there, Gerardo. We are focused right now at Las Coloradas in terms of the drilling that’s taking place. Then we’ll have crews at Almoloya as well, preparing for the drill program that will be coming up there.
Gerardo Del Real: Tell me about the goals for the Las Coloradas program. Last year, you were able to delineate new discoveries, and you were able to provide scale. We established that the mineralization extended beneath the water table, which was critical.
Me playing devil’s advocate, one could argue that we want to prove continuity, that we want to see greater widths, and that we want to see those grades continue to hold up. Is that part of the approach this year with the program at Las Coloradas?
Emerson Scott: That is the program. If you recall, last year we did reconnaissance drilling. This year, what we’re going to do is fill in those gaps. Right now, we have two miles by approximately one mile. We have a rectangle, and within that, everything we’ve drilled to date has hit mineralization.
Now this program, what we’re going to do is go back to those holes, and some of them, if you recall, Gerardo, are a kilometer apart from one another. So now we’re going to go 50-meter step-outs on either side and go again below the water table but deeper.
An example would be this hole you can see behind me that’s being drilled. We’re currently going to a 300-meter depth on this hole, and this is approximately 50 meters from hole number 10, which was a hole that had, if I remember correctly, 455 grams over three and a half meters, and it was well over 1,000 grams silver equivalent.
Gerardo Del Real: You’re doing pretty aggressive step-outs then, and you’re going deeper, which is music to my ears, because if you’re going to raise the kind of capital that you raised, me as a shareholder, I want to see that deployed in a way that’s going to add ounces and value as quickly as humanly possible, especially given the fact that silver has pulled back, but it’s at $77 an ounce, right?
Emerson Scott: Correct.
Gerardo Del Real: Excellent. Tell me about the Saddle target because that’s a target, as well, that I’m very excited about.
Emerson Scott: The Saddle target, again, is being prepared right now for drilling this year. It’s about three miles from where we’re standing right now.
Again, I talk about it being a standalone project in itself. Las Coloradas is one. The Saddle target could potentially be a project all on its own, and we’re excited to get there and put some holes into it.
Gerardo, to your point, it’s all about execution now. We’ve been able to raise substantial capital, a little over C$15 million in cash, so we’re well financed to really go aggressively and hard for the next couple of years on both projects.
Gerardo Del Real: Let’s talk about that other project. You mentioned Saddle being considered almost a second standalone project if the drill bit proves it up. Almoloya has historic drilling. Almoloya has good grades historically. Almoloya has great widths historically, and we know it’s a past-producing district. You now have two past-producing districts that you’re proving out.
You still have a tiny market cap, especially after the recent pullback in the share price. What is the approach at Almoloya once we’re done drilling at Las Coloradas and the Saddle target?
Emerson Scott: Simultaneously right now, with the drilling that’s occurring here at Las Coloradas, we have field crews there preparing for us to arrive and begin drilling. We’re going to go back into those historical areas that you talked about where we do have results from 1990 that Almaden drilled there with significant widths and gold grades.
It’s a different project in the sense that it’s a lookalike but it’s predominantly gold. Again, early days there. We’re going to replicate what we did last year here at Las Coloradas. We’re going to be stepping out from those areas and drilling reconnaissance holes.
Gerardo Del Real: Infrastructure is great. You’ve got the team, you’ve got the cash, you’ve got the projects, and you’ve got a hell of a metals market. I suspect that this share price and market cap won’t last much longer, especially if we’re able to prove on those aggressive step-outs that the mineralization continues and that the grades continue to hold up.
Frankly, I’m excited about you drilling deeper because I suspect we might have a surprise or two at depth on this program.
Emerson Scott: Yes, and I think you’re going to see that. As you can see, the core is flowing right now, so we’re excited to get that back to camp, get it logged, and see what we’ve got.
Gerardo Del Real: Excellent. Talk to me about the labs before I let you go. How is that set up? How do you anticipate that going this year? I know last year there was a bit of a delay with everyone starting programs simultaneously. How is the setup with the labs this year?
Emerson Scott: The setup is better than last year. I can tell you that our field crew and our camp are closer to the project area. That’s fully set up, and I don’t anticipate any delays this year.
Gerardo Del Real: Excellent. Scott, great to have you on. Appreciate the time. I’m going to let you get back to it. I can’t wait for those assays to start coming in.
Emerson Scott: You got it. Thanks, Gerardo, from the field.
Gerardo Del Real: Thank you, sir.
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