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Margaux Resources CEO: Our Properties are Proximal to Two Major Potential Customers and We Have Near-term Cashflow Potential
Margaux Resources CEO Tyler Rice discusses the company’s position in BC’s Kootenay Arc region, as well as upward trends for zinc, gold and tungsten.
According to Margaux Resources (TSXV:MRL,OTCQB:MARFF) CEO Tyler Rice, Margaux’s presence in BC’s Kootenay Arc is supported by the polymetallic nature of the resource in the area, as well as existing infrastructure and the proximity of two major potential clients.
In the interview below, Rice shares the benefits of the region and also showcases the success the company has had to date exploring for gold and zinc and establishing a recovery scheme for tungsten from a historic tailings pile. Rice expects to see upwards trends in all three markets, making it an exciting time for Margaux.
Watch our video interview with Margaux Resources CEO Tyler Rice here. You can also view the transcript below; it has been edited for clarity and brevity.
Investing News Network: Please give our investor audience an overview of Margaux Resources and its projects in the Kootenay Arc region of Southwestern BC.
Margaux Resources CEO Tyler Rice: Margaux Resources is a regional consolidator of mineral-rich, past producing properties. Our properties are proximal to two major potential customers, and we have near-term cashflow potential from a recycling program associated with recovering tungsten from a historic tail pile.
INN: How does the Kootenay Arc region compare as a mining jurisdiction?
TR: There are many advantages associated with operating within the Kootenay Arc. One of these is the amount of infrastructure in place, including roads, power and access to skilled labor. Additionally, within that region, we are near two major customers in the form of Teck Resources’ (TSX:TECK.B,NYSE:TECK) smelter operations in Trail, BC and the Kinross Gold (TSX:K,NYSE:KGC) Kettle River gold mill, currently on care and maintenance.
INN: Please tell us about the key exploration activities you have recently conducted at your projects. Are there any findings you would like to highlight?
TR: We have a number of highlights that will influence how we move forward. These include the conclusion of our fall drill program, the results from our lead-zinc drilling at the Jackpot property and our recently announced gold results on Bayonne in the Maggie Aikens zone, which are presenting high-grade, narrow vein orogenic gold. Additionally, we are seeing more gold results from our drilling at the Sheep Creek project, which historically produced around 700,000 ounces at half an ounce per ton.
We have also completed excavation of 3,500 kilograms from a historic tungsten tail pile that has been shipped to our partner, CRONIMET, as part of a recycling initiative aimed at economically recovering tungsten from the historic waste pile.
INN: What are the next steps for the Margaux Resources projects? How do these fit into the company’s long-term goals?
TR: With regards to our next steps, we will continue evaluating the Sheep Creek and Bayonne properties with the goal of converting the historic resources into NI 43-101 resources. We are also looking to generate near-term cash flow from the tungsten remediation opportunities of the historic tailings pile.
INN: Are there any other catalysts you would like to share with our investors?
TR: Shareholders should know that zinc is currently at a 10-year high and gold prices are continuing to move in a positive direction on the back of the oil-for-gold deal that Russia and China are looking to engage in.
The price of tungsten has also gone up over 50 percent in the last few months. This is a result of global instability, as tungsten’s primary use is in military applications.
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