Silver Viper CEO Steve Cope discusses the company’s string of positive drill results at its La Virginia gold-silver exploration project in Sonora State, Mexico.
Silver Viper (TSXV:VIPR,OTC Pink:VIPRF) CEO Steve Cope joined the Investing News Network at the 2020 Prospectors & Developers Association of Canada conference to discuss the company’s string of positive drill results at its La Virginia gold–silver exploration project in Sonora State, Mexico.
When Steve Cope last spoke with INN at the Vancouver Resource and Investment Conference in February, the company had yet to release its latest batch of results which included significant high-grade gold and silver mineralization.
In late February Silver Viper announced its latest round of drill results from El Rubi, including 22.6 g/t gold and 1,431 g/t silver over 3.0 meters. These latest results have caused CEO Steve Cope to be quite optimistic regarding the El Rubi project going forward as drill results continue to show significant potential. “ The bach we just put out actually stepped back at depth, they went underneath that intercept and we saw the zone getting broader. We’re still at 22 g/t gold over a much wider thickness and still in multi-kilogram silver,” said Cope. “We’re trying to stay reserved but you can’t help but get excited about numbers like that. It’s hard to find something like this, we’re hitting in every single hole and it’s getting better and better.”
Silver Viper acquired the El Rubi project from Pan American Silver (TSX:PAAS,NASDAQ:PAAS) in 2018. Under the terms of the agreement, Pan American Silver is entitled to a two percent net smelter royalty over the entirety of the project. According to Cope, his company’s relationship with Pan American has been critical to Silver Viper’s success. “Pan American has been very supportive of us. We’ve had other joint venture projects and dealt with them in the past on projects so we’ve always had a very friendly relationship with them and that relationship was what allowed us to get this project from them.”
Following the acquisition of the La Virginia project, Silver Viper made the El Rubi discovery on an unexplored portion of the property. “What got us excited was the part of the project that they didn’t walk. They had land access agreements in the southern half of the project, but not the northern half. We were the first company to go in and sample the portion of the project where we made our discovery at El Rubi,” said Cope. “When we did our site visit looking to get involved in the project, there was this great big area that was already well-defined, but we wanted something that’s going to be of size.”
Moving forward, Cope and his team at Silver Viper intend to continue to explore the project in the hopes of making a new discovery. “We’ve got four other anomalies that we’re going to be testing. I believe we’ve just completed the first hole on Macho Libre, so I’m anxiously waiting to hear what those are. There is potential there for another new discovery. Then we’re going to move on to our eastern anomaly, which we’re highly excited about,” said Cope. The company intends to continue to release drill results in batches of three to five at a time every few weeks as it works to establish a resource. “We’ve got that second rig starting, so hopefully we can make new discoveries on that portion of the project. Then in Q3, we’re targeting a maiden resource on the project that is expected to incorporate that historic zone along with the discovery at El Rubi.”
Cope believes macroeconomic turmoil could continue to play a critical role in the markets in 2020, especially gold. “The trade tensions have certainly been one of the catalysts for gold doing what it has done,” he said. “I don’t think that’s doing any good for any of the world’s economies, but gold has always been the hedge in your portfolio. I think you’re going to see gold and silver benefit from these tensions as we move forward.”
For a more comprehensive update from Silver Viper CEO Steve Cope, watch the video above.
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