Silver Vipers Plans For Next Round of Drilling | Arcadia Economics

➡ Arcadia Economics talks about how over the past few years, the market for junior mining companies, particularly in the silver and gold sectors, has been tough. However, recently there’s been a surge of interest and investment in these companies, including ours. We’ve managed to raise up to $4 million, which will allow us to get back to work and expand our existing resources. We’re excited about the potential for new discoveries and the opportunity to increase our resources, with the goal of reaching over a million ounces of gold equivalent.

➡ After a tough two years, things are looking up with a new drilling program starting soon. The first results could be out as early as a month after the start, possibly by the end of May. This progress, along with a recent market rally, has allowed for new financing and the hope for an updated resource by year’s end. More information about the project can be found on the Silver Viper Minerals website.

Yeah, I mean, it’s this from, you know, not just my history in the, in the sector, but talking with a lot of, you know, the guys that have been the sector, you know, for decades longer than myself, and they talked about this. Last two, three years has been the worst market they’ve in any, anyone’s recollection of what it was like for juniors and in the silver space and gold space trying to capitalize and rate, you know, just in this environment where rates were going up and there was zero interest in the sector where the funds that traditionally do all the funding of the companies had just net outflows for years and years and years.

And so to finally have some joy and see some interest, in our case, we saw especially last week, but even over the last few weeks, we’ve seen our volumes and our trading on our stock with no marketing, with no additional efforts at all, and we’re seeing our volumes skyrocket. And that’s been the first time in a long time we’ve seen just people that have been following and learning all these silver companies finally really start to deploy their capital and start buying in the market.

And then the share price moved up. And we’re one of many silver companies or junior mining companies out there that obviously have been waiting and waiting and waiting patiently trying to get by, trying to do what we can capitalize so to be able to get back in the market. Now we’ve got a placement, like you said, that we’ve announced to raise up to $4 million. That’s going to free us up to get back to work and drill all these targets and expand on our existing resource.

It’s very attractive already at La Virginia. And what we saw in the first 24 hours of that placement, we saw a lot of capital come in. And this is capital from funds. We’ve had at least eight funds participate so far that have made commitments on the placement. There’s still some room, but it’s filling up very quickly. It’s finally showing like there’s a change in the wind and we’re getting a tailwind to start helping the mining companies.

So we’re excited that we’re probably one of the earlier ones to get into the market and get capitalized. And that’s going to allow us to get to work sooner than our peer companies start producing the results that we know we can produce at El Ruby, hopefully make some new discoveries on El Molino. On the back end of this placement, we’ll start at least a 5000 meters program, drilling those two targets.

So, you know, it’s a really good place to be. It’s exciting, and we’re excited to get back to work. You know, we’ve been working, but to get back to drilling and really starting to add the value and increase our resource, you know, we’ll still target having a new resource out probably by the end of the year on the project, updating that, hopefully that takes us, you know, what? We’ll see what the drill results do.

But, you know, our next goal would be to be above that million ounce gold equivalent. We’re sitting at about 700,000 right now. And I think on good results, we could expand it a lot further than that. So, very exciting. I think it’s a good sign for the whole industry that some of these funds finally have some inflows and some capital that they can redeploy into the space and exciting to be at the front end of that and ready to get to work sooner than a lot of other companies.

Yeah. And in there, you mentioned the resource update, which that’s good to hear. That in an ideal timeline, could be at the end of the year. And one thing I’ve heard you mention before is that you already have some ounces that are not in the current estimate that would be added from work that you’ve already done. And I’m assuming if we have the gold and silver prices stay anywhere near the current levels, that could potentially add even before the drilling is done, from where you’re already at and the resource you already have could both add an increase there.

Is that fair to say? Yeah, I mean, there’s two different things that have already happened from our last resource that will add ounces, you know, economic ounces to a resource. You know, when we hire an independent, they have to say, okay, this is the resource based on certain metals prices. And obviously, we’ve seen a dramatic increase in both gold and silver from the time our last resource was done.

So that will then they know it might lower the grade, but they’re going to say this today is economic and be willing to include that in the resource which will add ounces. We’ve expanded our El Ruby area of the project to at least 300 meters to the south from where the existing. Where the resource was, and cut off on the last, our maiden resource on that part of the area.

So again, there’s a lot of drilling in that 300 meters to the south coming off of the aurora that would be included in the open pit portion of the resource at El Ruby that will be included. Before that was just empty rock. It was all part of the pit, but there was no mineral attributed to that portion of the resource. So again, all that’s going to be adding.

And then we make a new discovery on an area like El Molino. Hopefully. We’ve had a lot of really good surface sampling and mapping and done there on the breccia structures, which is our high grade structure at L Ruby as well. And so you make it, you know, we start delineating a resource there, hopefully on the back end of discovery and just stepping out 50 meters at a time, same as way we did at L Ruby.

And, and then, you know, you’ve got the potential for another l ruby or bigger. So lots of potent. And then, you know, there’s a dozen other targets that we’ve identified that we’re going to get drill ready for future drill programs that all have new discovery potential. It’s very little of our project has been drilled and explored. You know, we made a discovery right off the bat at El Ruby when we took over the project, and that’s been our main focus.

But the one thing that pausing drilling and being out there in this tough market is it’s really allowed us to go out and spend a lot more time out in the field exploring, you know, sending the guys out on their walks, mapping, sampling, finding new structures. Looking around this project, you know, El Molino shows the potential for another parallel system 2 east of El Ruby. And so it’s really exciting to see how all these things kind of come together and continue running for kilometers.

These structures, it’s just vectoring in where you’re going to get the best widths and grades to potentially mine the mineral. But I fully expect that our resource, whether it’s this one or future ones, we’re going to grow it dramatically on this project because there’s just too many good targets and there’s too much mineralizing activity happening that we don’t make additional discoveries. L Ruby itself is still open along strike and at depth.

So there’s a lot of different ways and things going on. And it’s just nice, you know, after having our first pause ever in drilling, that we’re going to be able to get back and start drilling again. Yeah. And Steve, I guess, last one for you here. Are you able to offer any sort of even ballpark estimate of when you would begin drilling and also perhaps when you might expect to get some results back? Yeah.

So once the financing closes here in the next, we’ll see when hopefully it closes very quickly because the book, like you said, is filling up very quick. But, you know, we’ll, we’ll put out a tender to the drilling companies to come and bid on the project to, you know, to two or three of them to come and provide quotes. We’ve already got all of our environmental, you know, semirnat permits in Mexico in place to drill all over the project.

But we’re, like I said, we’re going to be focused on Ruby and Molino. So we certainly have all of our holes that we be drilled in that area permitted, and they have five year terms on that, on those permits. So we have no delay on that front. So once the drilling companies, we decide who it is, we’ll be able to mobilize and get going very quickly. I would expect to have rigs on site within a month of the closing of the placement.

And right now, I mean, again, with prices moving up, there’s going to be a lot of people that are racing to get going and drilling. But because I think we’ll be at the front end of a lot of them, our initial results, I would expect. I mean, we’ll see what happens. Maybe two to three turnaround, two to three week turnaround time once the materials have been sent to the lab.

So that would probably lag drilling. You know, drill the hole. We’re splitting and logging and doing everything. Then we’ll get trucked into Hermosil to the lab. So, you know, from the start of a drill program, first results out, maybe even as early as a month after we announced the start of the drill program, possibly, maybe a little bit longer. But, you know, it could change with the lab times and if a bunch of people start racing and getting materials in all at the same time.

But that’s kind of what we’ve been seeing and hearing for the last little bit anyways in the market. So if we’re close in a couple of weeks, say, you know, maybe even end of May, you could start to see results. Well, I know that will be, I know that’ll be leaving you feeling happy. Obviously, it’s been a tough two years with the market and being able to move some things forward.

And obviously, it’s good to see that we’ve had the rally which allows you to do the financing and get back out there drilling. And hopefully, like you said earlier, have an updated resource by the end of the year. And I’ll just mention people can find out more information. Link to this in the description field below. But is@silverviperminerals. com and of course, up here in the upper right, you have the contact tab where they can contact you, Steve, or Alicia, who is in investor relations, and find out more about the project.

And they have questions or would like to participate. That is how you can do that. So, Steve, a lot of good things happening this month, and it’s nice to see that after a long wait. But great to catch up with you again, as always, and see what’s going on in silver and also at silver viper. And again, congratulations that the financing is going well so far, and we will look forward to hearing more about it and see what progresses in the next month.

Sounds good. Chris. I’m looking forward to. .

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