Silver Viper

Developing High-Prospect Properties Through Exploration

This profile is part of a paid investor education campaign.*


Silver Viper Minerals Corp (TSXV:VIPR) is a mineral exploration company focused on acquiring early-stage projects, increasing their value through discovery and deposit definition, growing the project to a point where it becomes of interest to senior resource companies. The company establishes strict minimum thresholds for resource target size, ensuring that they make effective use of their capital and deliver as much value as possible to their shareholders.

Silver Viper’s management team are members of the Belcarra Group, a team of industry professionals who have technical and capital markets experience in developing projects including those associated with, historically, Orko Silver and currently, Orex Minerals (TSXV:REX), Dolly Varden Silver Corp (TSXV:DV) and Barsele Minerals (TSXV:BME).

Silver Viper’s current focus is on its new project is the La Virginia Gold Silver Project (“La Virginia”), which it recently signed a Letter of Intent with Pan American Silver Corp (“Pan Am”) for the 100% acquisition of this exciting and advanced stage gold silver exploration project which has significant exploration potential for expansion.

La Virginia Gold-Silver Project

In December 2017 and February 2018 the company signed non-binding letters of intent with two groups of mineral concession holders.  Silver Viper’s aims to consolidate a land position including known gold-silver mineralization and significant prospective upside along the mineral trend. Non-binding LOIs were signed with a small group of private claim owners for three strategic mineral claims and with Pan Am for three large mineral exploration concessions, the six claims now collectively known as La Virginia

Identified by Minefinders Corp (“Minefinders”) in 2007, during a regional targeting program, La Virginia is a 37,700-hectare property located 220 kilometres east-northeast of Hermosillo in the state of Sonora within the Sierra Madre Occidental. Following a period of surface mapping and greochemical sampling, Minefinders initiated a drilling program from 2010 through to early 2013.   Publically available data is limited, though MD&A documents indicate that Minefinders spent as much as $3.5 million on 48 diamond drill holes totalling 15,686 metres in 2011 alone. Grades reported by Minefinders include 23.5 meters of 13.69 g/t gold equivalent and 15 meters of 6.14 g/t gold equivalent (estimated true widths were not reported).

Minefinders was acquired by Pan American in January 2012, largely for the operating Dolores silver-gold mine.  Minefinders drill tested La Virginia during the acquisition process, with Pan Am continuing exploration drilling into early 2013.  There have been 188 diamond drill holes completed on the property to date.

Findings to date have identified anomalous gold and silver mineralization in structures ranging numerous kilometres from known showings. Silver Viper is currently reviewing existing data on the project, including an overview of existing drill core and logging. The company is also conducting a regional reconnaissance survey on the greater claim area to identify prospective areas for follow up exploration.  Work planned for 2018 will focus on target generation by way of prospecting and geochemical sampling.  Diamond drill confirmation and extension testing is already planned for the core area, with regional work seeking to add drill targets by fall 2018.  Silver Viper has commissioned a formal environmental study, a document required in the drill permit application process.  The company aims to commence drilling at the earliest possible date.

Core from LV11-050C, 250.8m to 253.8m,  3m averaging 12.55g/t Au and 747g/t Ag, Photo taken Feb 2018

View of La Virginia Property.

The Silver Viper management team has a proven ability of discovering and developing quality exploration projects with large returns for their shareholders as demonstrated with the discovery of Orko Silver Corp’s La Preciosa silver-gold deposit in Mexico as well as the Barsele gold project in Sweden. They have a strong history of entering agreements in the past with major mining companies such as, Pan American Silver, Coeur Mining, First Majestic Silver, Fresnillo, Agnico Eagle and Hecla.

Investment Highlights

  • Portfolio of two exciting exploration projects in prolific mining jurisdiction.
  • La Virginia is an exploration property with a recent exploration history including approximately 52,000 metres of drilling over 188 drill holes.
  • Publicly reported drill tests at La Virginia reported findings as high as 23.5 metres of 13.69 g/t AuEq.
  • Clemente is a previously undrilled silver-gold project with three target areas in Similar structures to Goldgroup’s Cerro Prieto gold mine.
  • Check sampling conducted by Silver Viper includes top sample of 1,895 g/t silver, 4.46 g/t gold, 1.95 percent lead and 1.62 percent zinc across 0.5 meters
  • Approximate 1,000 metre drill program completed in late 2017.
  • Approximately $4.0 million in the treasury.
  • Experienced technical and management team with proven ability to unlock value by developing projects through exploration.
  • Management and Institutional shareholders own 39% and 35% of the shares respectively.

Clemente Silver Project

The Clemente silver-gold project (“Clemente”), s a 6,214-hectare property located in the northern region of Mexico’s mining-friendly Sonora state. The property sits upon the Mojave-Sonora megashear, which is a stretch of 700 kilometers defined by medium to large orogenic gold and silver deposits and over 20 million ounces of gold. The property is 6 kilometers northwest of the Goldgroup Mining’s Cerro Prieto gold mine and from the Granmin Cerro Colorado mine. Due to the presence of multiple mining companies in the region, the project is supported by established infrastructure including water from underground springs, power lines and road access.


Mineralization on the property shows characteristics of orogenic gold deposits and low-sulfidation epithermal gold-silver deposits, with structures similar to those on the Cerro Prieto mine.

Past exploration and results

Historical exploration results for the property were compiled and enhanced by a sampling program conducted by Riverside Resources. This included data compilation, ASTER analysis, ground magnetics and a geochemical sampling program. The sampling program was composed by 152 grab samples and returned assay results of up to 2,108 g/t silver, and up to 5.44 g/t gold, with multiple samples returning values of over 50 g/t silver—an anomaly for the region. Samples on the property showed the presence of not only mineralized gold and silver, but also lead, copper and zinc.

Target Areas

The sampling program also identified three target areas—El Mundo, Nuevo Mundo and Santa Elena—which all returned high silver-gold grades. Results of Riverside’s program have since been confirmed by check sampling conducted by Silver Viper.


Check sample results for the El Mundo area included samples grading 1,895 g/t silver, 4.46 g/t gold, 1.95 percent lead and 1.62 percent zinc from a 0.5-meter chip sample. In the Nuevo Mundo zone, sampling returned grades of 696 g/t silver, 0.77 g/t gold, 1.25 percent lead and 5.73 percent zinc over 0.5 meters. Lastly, Silver Viper did not conduct check sampling on the Santa Elena prospect area, but historical sampling includes results of 2,930 g/t silver, 0.35 g/t gold, 2.4 percent copper, 5.2 percent lead and 1.6 percent zinc.

Phase 1 drilling program

Despite these positive sampling results, the property had seen no drilling conducted prior to Silver Viper’s option agreement. The company has subsequently deployed the project’s first drilling program in October 2017, focusing firstly on the El Mundo and Nuevo Mundo targets. In late 2017, Silver Viper completed nine holes for a total of 1062 meters at the El Mundo and Nuevo Mundo showings, having re-initiated the program in February 2018, the company plans to complete the first phase of diamond drilling by mid 2018.


The program is estimated to cover at least 2,000 meters over 15 to 20 holes. Its goal is to help Silver Viper further understand the resource on the property and refine the selection of target areas. Over the course of this program, Silver Viper will also be conducting an aggressive field campaign.

“We are extremely excited to begin exploration on a target-rich project that has never been drilled before,” said Silver Viper CEO Steve Cope. “We have a great technical team in place and look forward to developing our understanding of Clemente through our maiden exploration program.”


Steve Cope—CEO and Director

Steve Cope has 12 years experience in the mining sector. He has worked in corporate development for Orko Silver Corp, Barsele Minerals Inc, Orex Minerals Inc and Timmins Gold Corp. His responsibilities with these companies have covered a wide range of areas including financing companies, project evaluation, investor relations and mergers and acquisitions.

Carla Hartzenberg—CFO

Carla Hartzenberg, CPA, CA, is a Chartered Professional Accountant with 10 years of experience primarily focused on the natural resources sector. She possesses significant experience in mining exploration, real estate, manufacturing and clean technology. She has held management positions in the resource sector as well as real estate. In addition, she gained extensive experience through a Canadian audit firm providing assurance services to publicly traded companies on the TSX, TSX-V and OTC markets. She holds a Bachelor’s degree in Economics from the University of Victoria.

Dale Brittliffe, PGeo—VP Exploration

Dale Brittliffe is a professional geologist with 20 years of experience in design and management of mineral exploration programs in Australia, Canada, Mexico and Brazil. He has particular expertise in identifying and upgrading early stage projects and boasts a solid track record of successful stakeholder negotiations resulting in amicable and productive land access agreements. Based in Vancouver, he has eight years of experience managing exploration projects in northern Mexico and has previously completed such work for Kootenay Silver, Astral Mining and Orex Minerals Inc. He holds a Bachelor of Applied Geology degree from Curtin University of Western Australia and a Bachelor of Science (Environmental) degree from the University of Western Australia.

Alex Tsakumis—VP Corporate Development

Alex Tsakumis is a seasoned executive in the mining space with over twenty-five years of investment experience with private and public companies. Prior to joining Silver Viper, he was the Vice President of Corporate Development at Alio Gold Corp. (formerly Timmins Gold Corp.) for nine years, where he played a pivotal role in the development of the corporation from a junior exploration to a production company. He began his career in 1989 with the Barrington Group, representing advanced stage mining companies. He has experience in capital formation and management and growth of listed companies, including mergers and acquisitions, corporate governance, and corporate communications. He is a graduate of the University of British Columbia with a Bachelor’s Degree in Economics.

Melissa Martensen—Secretary

Melissa Martensen has served as corporate secretary to junior mining companies since 2008 with Orko Silver Corp and others. Currently, she serves on the Boards of Orex Minerals Inc, Barsele Minerals Corp, Silver Viper Minerals Corp, and Dolly Varden Silver Corp. She has a BComm (Finance) from UNBC.

Gary Cope—Chairman

Gary Cope has accumulated over 33 years of experience in corporate management and strategy, with a specific emphasis on public company finance. He arranged financing for the South Kemess project and later became heavily involved with the negotiations and selling of the deposit to Royal Oak Mines. In the past 12 years, he has acted as a senior officer and director for various publicly held companies, such as St Phillips Resources. Cope served as the president, CEO and director of Orko Silver Corp, and was instrumental in negotiating and arranging the sale of Orko Silver to Coeur d’Alenes Mine Corp in 2013. He currently holds those same positions with Orex Minerals Inc and Barsele Minerals Corp.

Art Freeze, PGeo—Director

Art Freeze has an impressive 45 years of experience in mineral exploration and project management. Until 2007, he served as the primary consulting geologist for Goldcorp Inc, and has held consulting, management and supervisory positions with international mining companies such as Cominco Ltd, Pasminco Exploration, Echo Bay Mines and Pan American Silver Corp. He is a member of the Association of Professional Engineers and Geoscientists of British Columbia (APEGBC) and was a consulting geologist and advisory board member for Orko Silver Corp.

Ross Wilmot, CPA, CA—Director

Ross Wilmot is a chartered accountant who has provided public companies with senior financial management services for more than 20 years. He offers exhaustive knowledge of reporting practices and requirements for public companies based in Canada and the United States. Wilmot has been involved in numerous business valuations and acquisitions, high tech start-ups and international mining operations.



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