Silver Viper: From IPO to High-grade Drill Results Showing Significant Mineralization
Silver Viper CEO Steve Cope spoke to INN at VRIC 2020 to discuss the progress his company has made since 2019.
The Investing News Network (INN) spoke to Silver Viper CEO Steve Cope during the Vancouver Resource Investment Conference to discuss the progress his company has made since INN last spoke to him in 2019. Since this interview, Silver Viper has released another batch of results from drilling at La Virginia.
Silver Viper (TSXV:VIPR,OTC Pink:VIPRF) has come a long way from its initial public offering (IPO) in September 2017. At the time of its IPO, the company was focused on the Clemente silver-gold property, which eventually changed when three concessions of the La Virginia project in Hermosillo, Sonora, Mexico were acquired in December 2018 from a subsidiary of Pan American Silver (TSX:PAAS,NASDAQ:PAAS).
From then on, Silver Viper’s focus has been solely on the La Virginia project.
La Virginia is 220 kilometers east-northeast of Hermosillo in Sonora state within the Sierra Madre Occidental. It is also 100 kilometers north of the Dolores gold-silver operation and 90 kilometers south of the El Tigre gold-silver operation. Historical exploration work has identified anomalous gold and silver mineralization in structures ranging numerous kilometers from known showings.
Back in February 2019, Cope explained to INN, “Pan American originally got the project from Minefinders, which had done the bulk of the work on the project. Pan American bought Minefinders for C$1.5 billion in 2012, and this was their primary exploration asset. At the time, however, Pan American saw it as a non-core asset as metal prices continued to move down in 2013 and all of the company’s exploration efforts were focused on their existing mines.”
In 2020, things are looking up for Silver Viper. The company is working on the second phase of its drill program on La Virginia, which is 100 percent focused on discoveries made around the El Rubi zone. The company has been drilling, seeing returns of high-grade results including 196 grams per metric ton gold and 984 grams per metric ton silver over 0.5 meters, with all holes encountering zones of significant mineralization. The El Rubi mineralized structure has now been intercepted on five sections for a total 250 meters of strike extent.
“What’s really changed over the last year is we’ve been focused on creating new targets on the project,” Cope told INN. “We did a very large mapping and sampling program in the area where we made our discovery that we talked about last year. We’ve identified four new major anomalies that have never been tested, they’ve never been sampled, they sit in the general vicinity of where we made our discovery. Of course, I mean, within kilometers of the area where we made our discovery.”
He continued to explain the strategy behind the exploration program. “Right now, the way we’re focusing this exploration program is by systematically stepping out at 50 meter spacings and stepping back and adding to the depth component. We feel that is the appropriate level of spacing for us to bring in those ounces into a resource and start growing this project to where one of the bigger mining companies will take a look and say, ‘No, we want this in our portfolio. This is going to be our next mine.'”
Silver Viper also recently conducted its first round of financing following its IPO, which allowed the company to raise C$4 million. According to Cope, approximately 80 percent of the funding originated from new institutional partners, which he believes is indicative of a bull market in the gold industry. With roads, power lines and existing infrastructure surrounding the property, La Virginia has the potential to be advanced by an operator without the need for significant infrastructure upgrades.
Armed with the release of recent positive drill results and with more to come, Cope is optimistic for what 2020 will bring. “This is a stock that is primed to go up a lot higher, and if you’re interested in gold or silver exploration stories, I think this is one that people should really be looking at.”
For a more comprehensive update from Silver Viper CEO Steve Cope, watch the video below.
This interview is sponsored by Silver Viper (TSXV:VIPR,OTC Pink:VIPRF). This interview provides information that was sourced by the Investing News Network (INN) and approved by Silver Viper in order to help investors learn more about the company. Silver Viper is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
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