Growing a Portfolio of Silver Assets in Idaho, Nevada and British Columbia
This Lakewood Exploration profile is part of a paid investor education campaign.*
Silver demand comes from a variety of different markets. Aside from jewelry, the precious metal leverages exposure in electrical, thermal, and many industrial spaces. With such usage versatility, especially in a growing electrified world, investors can expect silver demand to only grow.
A hotspot for silver mining on many radars is Coeur d’Alene Mining District in Idaho, USA. This region stands as one of the most productive mining districts in Idaho for silver and lead ore production. With over 1.2 billion ounces of silver production under its belt and more to be discovered, mining in this prolific region could mean exceptional economic upside for many competing silver players.
Lakewood Exploration Inc. (CSE:LWD,OTC:LWDEF) is a company focused on adding value for shareholders by growing a portfolio of silver assets located in some of the most prolific silver districts in the North America, that have significant discovery, scale and near term production potential.
Its growing asset portfolio includes the past-producing Silver Strand and Burnt Cabin mines located in the renowned Coeur d’Alene mining district in Idaho, the Eliza Silver project and past-producing Silverton Silver Mine located in Nevada, and the early-stage Lacy gold-silver project in British Columbia.
The flagship Silver Strand project comprises 70 claims over a 5.5 kilometers strike length atop a silver belt in the Coeur d’Alene mining district in Idaho. The district has produced over 1.2 billion ounces of silver and hosts some of the world’s largest silver mines. Silver Strand remains relatively underexplored and presents Lakewood a tremendous opportunity for silver discovery at depth and laterally along strike.
In August 2021, the company reported high-grade surface samples including 11.79g/t gold and 255g/t silver to further extend the mineralized trend at Silver Strand. “We are very excited with these results which confirm widespread alteration and gold-silver mineralization throughout the property and along the 5.5 km strike,” commented Lakewood Resources president Morgan Lekstrom.
Lakewood’s Eliza Silver project, located within one of the world’s most productive silver districts, could be the missing half of the Hamilton deposit. The Lakewood team plans to deploy a new geologic model, which will explore the down-thrown side of the Eberhardt Fault, which separates the Hamilton District from the Eliza Property.
The Silverton Silver Mine is located in East Nevada’s “Silver Alley”, a jurisdiction containing numerous large deposits including the 174 Moz Tonopah silver project and the Tybo project, which produced 100 Moz AgEq. The Silverton Silver mine is a proven producer of reported grades in the 1930s ranged up to 30 oz/t (933 g/t) Ag. Silverton has untapped exploration potential with a sizeable, untested extent of mineralization around the mine reported in the 1980s.
The Lacy gold-silver project consists of three non-surveyed contiguous mineral claims totalling 590.08 hectares located within the Nanaimo and Alberni mining divisions of British Columbia. Acquired in 2017, the property is subject’s Lakewood to a payment agreement of two percent net smelter royalty to Barrie Field-Dyte. The company has been quick to begin exploring this highly prospective asset since its acquisition.
The company will commence an initial 2700 metre drill program at Silver Strand toward the end of summer. Lakewood expects to commence drilling at Silver Strand toward the end of Summer 2021, with airborne geophysical surveying using modern drone technology as well.
Lakewood Exploration has a world-class management team with collective decades of experience in exploration, mine development and capital markets. Its exploration is headed by Lawrence Roulston, an expert in mining, resource opportunities and business advisory. Together, this results-driven leadership primes the company for exceptional silver and precious metal discovery and economic success across its robust portfolio of assets.
Lakewood Exploration’s Company Highlights
- Lake Exploration Inc. is a silver exploration company focused on developing and exploring assets with significant exploration potential and a clear path to production.
- The flagship Silver Strand property leverages strategic positioning along the silver belt in the Coeur d’Alene mining district in Idaho, a region that has produced over 1.2 billion ounces of silver.
- The Eliza Silver project will be the first-ever modern work on one of America’s richest, most profitable districts.
- Lakewood Exploration’s Silverton Silver Mine is a proven high grade silver district with room to grow and ready targets.
- The Lacy gold-silver project is located in the mining-friendly district of British Columbia and presents Lakewood with tremendous precious metal exploration opportunities.
- The company operates a tight share structure with an advantageous market capitalization in the silver-mining space.
- The company’s management team is a world-class group of executives with decades of combined expertise in exploration, mine development and capital markets.
Lakewood Exploration’s Key Projects
Silver Strand Project
The Silver Strand mine comprises 70 claims over a 5.5 kilometers strike length along the Revett formation, a silver belt within the renowned Coeur d’Alene mining district in Idaho. The Silver Valley leverages a rich century-long history of successful silver mining and past-producing mines that have been underexplored.
The project presents exceptional exploration opportunities with a limited mining history that suggests the potential for mineralization at greater depths. Recent rock chip sampling revealed grab samples highlighting values of 1,669g/t silver and 9.77g/t gold from the shrink stope above the number 3 level. Other grab samples demonstrated high-grade mineralization hovering 255g/t silver and 1.27g/t gold.
Lakewood has an aggressive exploration program underway, which includes surveying, sampling and 3D modelling. In 2021, the company plans to commence a 14 hole, 2,700-meter drill program and ground geophysics campaign along strike between the Silver Strand and Burnt Cabin mine sites.
The Eliza Silver Project
The Eliza Silver Project is located along strike of the Hamilton Mining District, Nevada’s highest-grade silver district, which produced 40 million (M) ounces (oz) silver with grades up to 25,000 grams per tonne (g/t) between 1876-1890.
Surface samples collected at the nearby California Mine grading 24,956 g/t silver (Ag)* and information gained from a detailed geologic map, indicate that Eliza and the Hamilton District contain high-grade Ag mineralization hosted by the same formation; however, no significant work or drilling has been done on the project in over half a century.
The Lakewood team plans to deploy a new geologic model, which will explore the down-thrown side of the Eberhardt Fault, which separates the Hamilton District from the Eliza Property. The California Mine, which mined ore grading between 5,621 to 18,737 g/t silver equivalent (AgEq)* in the 1870s is also located south of the Eberhardt Fault, indicating that very high-grade mineralization can be found within the Eliza fault block.
The Silverton Silver Mine
The past-producing Silverton Silver Mine is located in East Nevada’s “Silver Alley” with high-grade historic production of up to 933 g/t silver. Despite significant surface exposures and grab samples grading up to 499 g/t Ag and 1.99 g/t Au, no modern-day drilling or subsurface exploration techniques have been conducted on the project since the 1920s. The first modern work is currently underway, including satellite imaging which has shown similar colour anomalies to Kinross’ 15M oz Au Round Mountain mine (see Figure 1).
Figure 1. Longwave infrared Aster image of central Nevada, showing same thermal response as Round Mountain mine (left) and Silverton project area (right).
Numerous large deposits are located in the “Silver Alley,” including the 174 Moz Tonopah silver project and the Tybo project, which produced 100 Moz AgEq (see Figure 2).
Figure 2: Silverton area map including other mines in the area
1) NBMG Report 22600014
2) MRDS Record 10072150
3) NBMG Report 11300005
4) NBMG Report 49700037, inflation-adjusted
5) VR Resources company reports
6) Bida, 1961 inflation-adjusted
“The geology of the Eliza project suggests that it could be a down-dropped extension of the 40 Moz Hamilton Silver project,” stated President, Morgan Lekstrom. “The addition of Eliza and Silverton, two highly prospective silver projects in two of the most prolific silver districts in the USA, complement our growing portfolio of western US focused silver assets, which includes the past producing Silver Strand mine in Idaho. The acquisition of these projects reaffirms our strategy of adding shareholder value by acquiring silver assets that have both large exploration upside and near-term production potential.”
Lacy Gold-Silver Project
The Lacy property consists of three non-surveyed contiguous mineral claims totalling 590.08 hectares located within the Nanaimo and Alberni mining divisions of British Columbia. The asset boasts elevated gold and silver values associated with late-stage (fracture & fault infilling) quartz-carbonate-sulphide veins and breccia.
Historic sampling by Lode Resource Corp in 1987 revealed 14.9 g/t gold from rock samples of massive and semi-massive pyrite from the main showing located in the southwest portion of the property. Other historic sample highlights include values of 64ppm copper, 6ppm lead, 32ppm zinc and 0.9g/t silver.
The most prominent gold and silver occurrences at Lacy are exposed along the abandoned CPR railway track where elevated gold and silver values are associated with pyrite and trace chalcopyrite, malachite mineralization. Lakewood remains excited to continue exploring this prospective property.
Lakewood Exploration’s Management Team
Morgan Lekstrom — President
Morgan Lekstrom has 14 years of mining experience in progressively senior roles in project operations and engineering management and has a strong leadership background with experience overseeing over 100 person teams onsite. In a recent role, Lekstrom served as engineering manager responsible for the budgeting, scheduling and the first phases of execution at Sabina Gold and Silver’s Back River Marine Laydown project. Prior, he spent two years in Ghana, West Africa where he played an integral role in the development and revival of Golden Star Resources’ Prestea underground mine. He led project, engineering and maintenance teams and worked with members of the executive team on the implementation of various strategic initiatives.
A graduate of Thompson Rivers University, Lekstrom has an established track record delivering successes across numerous projects worldwide.
Alnesh Mohan — CFO & Director
Alnesh Mohan is a finance executive with over 20 years of experience providing advisory services to a wide array of clients. He has been a partner at Quantum Advisory Partners LLP, a professional services firm focused on providing CFO and full-cycle accounting services to private and public companies since 2005. Acting on behalf of several public companies, Mohan has acquired considerable experience in financial reporting, corporate governance and regulatory compliance.
Mohan holds a Bachelor of Business Administration from Simon Fraser University, a Master’s of Science in Taxation from Golden Gate University and is a Chartered Professional Accountant (CPA, CA).
Mulholland — Chief Geologist
Phil Mulholland brings over 35 years of geological experience from mining projects in the western United States, Canada, Argentina, Chile, Guyana and Tanzania. He has worked extensively in Montana and Idaho working on a range of precious metals projects. His diverse background includes exploration, development and production, including both underground and open-pit projects, with an array of minerals and mines.
Mulholland has held senior-level positions in the region, including principal mine geologist or chief geologist, at Kinross’ Kettle River Buckhorn gold project, the Butte Highlands joint venture and Barrick’s Golden Sunlight mine. Since 2003, his primary focus has been transitioning late-stage exploration projects through development and into production.
Lawrence Roulston — VP of Exploration
Lawrence Roulston is a mining professional with over 35 years of diverse hands-on experience. He recently founded WestBay Capital Advisors, providing business advisory and capital markets expertise to the junior and mid-tier sectors of the mining industry. From 2014 to 2016, he was president of Quintana Resources Capital, which provided resource advisory services for US private investors, focused primarily on streaming transactions. Before Quintana, he was a mining analyst and consultant and the editor of “Resource Opportunities”, an independent investment publication focused on the mining industry. Prior, Roulston was an analyst or executive with various companies in the resources industry, both majors and juniors.
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The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Lakewood Exploration and seek advice from a qualified investment advisor.