Categories: Precious Metals
Topics: General Precious Metals

Zacapa Resources (TSX-V: ZACA)(OTC: ZACAF) CEO Ian Slater on Drilling at South Bullfrog & Kramer Hills Project Acquisition

 

Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Zacapa Resources, Mr. Ian Slater. Ian, it's great to have you back on. How are you today?

Ian Slater: Ah. I'm excellent. Thanks, Gerardo.

Gerardo Del Real: Well, listen, your timing couldn't be any better. Gold seems to be flirting with the 2,000 level in a more aggressive way. I actually think the second half of this year is going to lead to a breakout in the gold space, this despite the fact that the dollar index is still firmly above a hundred. But you just acquired an oxide gold project that I like, and so, again, congrats on the timing. I think it's perfect. Can you tell me a bit about Kramer Hills?

Ian Slater: Sure. Thanks. In the southwest US, you can economically mine half a gram oxides, and this deposit is 1.65 gram per tonne oxide gold. It's an historical resource of almost 400,000 ounces. It was mined back in the eighties, but it was in the early days of heap leach technology. They didn't get it right, but the little bit that they did mine is still sitting on the leach pads. That was just one pit. This thing goes for 2.7 kilometers, and walking along it, you've got all kinds of drill collars on there.

So we're still now just ... You have to be a bit of a detective in the US to find the old drill information. So we found about the data for 60 holes so far, but there's still lots more holes that we still need to find the data for. But everything we've seen so far is outstanding, and nothing, none of these drill holes go below 30 meters. Also the shafts, too. I think we found 54 shafts on the property so far, and all of it is really, really shallow. So the upside for the project is outstanding.

Gerardo Del Real: I tell you what's really impressive to me. One, obviously, the 5,200 hectares that the project encompasses, but the mineralization and the extent of it. You describe it as seeing gold occurrences that extend over an area measuring seven and a half kilometers by eight and a half kilometers. That's pretty substantial. Tell me a bit about how you plan on exploring this project.

Ian Slater: Well, first, we're going to get an RC rig in there, because that's cheap and easy, and we can get a lot, a lot of data, and twin some of these old holes, and try and go along strike over that huge area. So it's pretty quick and cheap to get going here. Also, the key is the old project is on patented ground, so permitting for drilling on private ground in the US is much, much easier than anywhere else.

Gerardo Del Real: This is in San Bernardino County, which is also, of course, home to Equinox's Gold Castle Mountain Mine. Correct?

Ian Slater: That's right. There's actually more operating mines in San Bernardino than in any other county in the US.

Gerardo Del Real: How is the infrastructure to the project?

Ian Slater: There's a highway running right beside us, and on the other side of the highway is Rio Tinto's Boron Mine that's been in operation for decades. There's old BLM roads that go all over the property, so it's easy to drive to ... Anywhere you want to drill, you can drive a truck to.

Gerardo Del Real: Excellent. I have to ask about South Bullfrog. How are things coming along on that front?

Ian Slater: Oh, really well. It's fully permitted, and we've got the drill contractor ready to go. As soon as we're financed, we're going to have a rig turning at Bullfrog. It was still our flagship property, and we're really excited about it. I just thought that adding Kramer in along with Bullfrog and Miller is a really well-rounded project pipeline for the gold side of Zacapa.

Gerardo Del Real: No. Look. I think, again, your timing is excellent. I think it's going to be a fun 2023. I'm looking forward to having you back on, Ian. Anything else to add to that?

Ian Slater: Nope. I think it's going to be an exciting, a really exciting year for Zacapa with three gold projects that are ready to drill.

Gerardo Del Real: Excellent. Looking forward to having you back. Thanks again.

Ian Slater: Thanks, Gerardo.