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Kingsmen Resources (TSX-V: KNG)(OTCQB: KNGRF) President Scott Emerson on 900 g/t Silver at 100% owned Las Coloradas Silver-Gold District
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president of one of my favorite silver gold plays, Kingsmen Resources, Mr. Scott Emerson. Scott, it is great to have you on. And how are you today, sir?
Scott Emerson: I'm good, Gerardo. Thanks for having me on.
Gerardo Del Real: Well, let's get right into it. This is the market that we've been waiting for. $2,300 gold, $27 silver. Both look poised to head much higher. We definitely have the macro environment that we've been waiting for in the commodity space, which is really exciting to me because Kingsmen is, I think, going to tap right into the sweet spot of the cycle as you advance the project here.
And so listen, let's talk about what you've been able to do. You've been able to consolidate for the first time ever, an entire silver gold district with some important base metal credit. So before we talk about some of the spectacular grades that you've sampled recently, as high as 500 grams per tonne silver, I want to talk about the district and what it is exactly that you have for those not familiar.
Scott Emerson: Sure. Gerardo, for those that aren't familiar, in 2023, we acquired a significant land package. Again, as you mentioned, it has never been controlled by one company. It has never been controlled by a junior company or explored for that matter by a junior company. And we were able to not only acquire the main components of that district, I then worked over a better part of a year to consolidate the entire area. So right now we control, Kingsmen, 100% of this old mining district.
In this district, there were two past producing mines. The most significant one of those mines was controlled by Asarco, which is Grupo de Mexico, Mexico's largest mining company. And they operated there from 1944 to 1952. And then when they left, and they left under not good circumstances because the vendors at that time there was 23 of them got into a dispute over payments and etc. That area sat idle for the better part of 20 years. Because it was so fragmented, nobody could really control one area or I guess the majority of the areas.
So what we were able to do post-COVID is to put all those pieces together. And again, like I say, we now control a hundred percent of that district. It's located in the Parral Mining District, which is a significant district in that it hosts two of Mexico's largest silver mines, which are located about 30 kilometers from our project area. So I wanted to put that out there because it's important.
Gerardo Del Real: Very important. And I was going to mention, I don't know of any silver gold juniors that have a hundred percent ownership of an entire district that's a past producing district in a silver gold part of a silver gold trend that has produced hundreds of millions of ounces, that has a market cap less than $6 million Canadian. Listen, I'm a biased shareholder. I wrote a check last time. When the time comes and there's an opportunity, I will be writing another check. I absolutely believe that at a $6 million market cap, it's one of the most compelling, and I would say early stage, but it's not early stage because it's a past producing district, but definitely early stage in terms of market cap, one of the most compelling silver gold opportunities in the entire space.
Let's talk about the recent sample analysis and then let's get right to setting the table for the rest of the year. Because you know what I want to know and what everybody else wants to know is, "That's great. Scott, you put together this district, you have high grades, you have a whole heck of a lot of it all over the place. When are you going to drill this thing?" Right?
Scott Emerson: Correct. Yeah. So just to go back to your first question is we know and have identified two main structures on this project area. One was where the past producing Asarco mine was, we've been able now to trace that structure for 1.7 kilometers. And to put it into perspective, the actual mine that was there producing was only 250 meters long. And it went to a depth of about 120 meters. It only went to the water table.
So what we've been able to do over this winter session, as we've continued to be on the project and explore, we've now extended that structure as again, 1.7 kilometers long. And then there's a secondary structure called the Soledad II structure, which we've now traced for 1.2 kilometers long. And what we've been doing is systematically going in, sampling what we see on surface. When we've been able to get underground into the old workings, we've gone underground and sampled. And the news release that was put out today basically is a very small piece of the Northwest structure where the old mine sat. So that's where these numbers have come from. And as you mentioned earlier, you're seeing numbers of a silver gold equivalent of 500 grams. But I wanted to correct you a bit because we've got a couple 900 gram samples that came out, which to your listeners, that equates to 31 Troy ounces per tonne.
So we're really happy with what we've seen. This is just one of the four areas that we extensively sampled. So over the course of the next five weeks, we're probably going to see more results as we get them from the other three areas.
Gerardo Del Real: Well, listen, that's exciting. I know how diligent you and the team have been putting together and compiling the large database that you were fortunate enough and frankly worked hard enough to hunt down in order to delineate the best targets for drilling. When can we anticipate seeing the drill bit turning? Because I really think that's what's going to catch the market's attention. And I say that after a hundred percent week for Kingsmen, right? You're up some hundred percent and still have only a market cap of $6 million Canadian, but when can we expect the drill bit turning?
Scott Emerson: So we're anticipating that we'll complete the field program probably around June of this year, and the drill rig should be there July, August. That's what we've laid out to accomplish this year. So again, I think July, August is a realistic timeframe for drilling to occur. And prior to that, I think you're going to see a lot more results in the marketplace delivered from us.
I can also tell you, Gerardo, we went ahead during the time that we were acquiring and doing this work, we went ahead and did get our drill permit, so we are permitted to drill. So we could put a drill on there tomorrow, should we choose. We want to do the work that's required to give us the best opportunity for success, and that requires some patience and time. But that's what our program is. And again, you mentioned our market cap. We only have 19 and a half million shares outstanding. So we have a very small float, so to speak. The majority of it is owned by significant strategic investors that have supported me and my team as we've developed this area.
Gerardo Del Real: Well, like I was saying, Scott, it's exciting times. I think when you get to drilling, we're going to be seeing much higher precious metals and base metal prices. I mentioned up top, I think you're hitting the sweet spot of the cycle. I cannot wait for further results, and I can't wait for that drill bit to start turning. A happy shareholder, holding all my shares and likely adding here in the near future. Anything else to add to that, Scott?
Scott Emerson: No, that's it. I thank you again for having me on and keeping your listeners updated and we'll be in touch.
Gerardo Del Real: Well, if you like silver and gold, folks, you should be looking at Kingsmen Resources. Definitely go and take a peek at the corporate presentation on the website or reach out to us on Resource Stock Digest, look at the company page. All the info is there for you. Thank you, Scott.
Scott Emerson: Thanks Gerardo. Take care.
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