Silver Viper Minerals Eyes New Resource at La Virginia Silver-Gold Target

Silver Viper Minerals (TSXV:VIPR,OTCQB:VIPRF) intends to develop an underground resource for the El Rubi zone of its La Virginia silver-gold project in Sonora, Mexico, according to President and CEO Steve Cope.

The company conducted a geophysical survey at El Rubi last year and identified potential high-grade targets underground.

“We want to definitely start to target that this year and test that theory and model and look to make a further discovery and start to develop an underground resource above our open-pit resource,” Cope said.

Silver Viper has been building its La Virginia resource, expanding El Rubi to about 300 meters to the south. In 2021, the company released a mineral resource estimate at La Virginia comprising 154,000 ounces of gold and 6.93 million ounces of silver in the indicated category, and 260,000 ounces of gold and 12.94 million ounces of silver in the inferred category.

“Our goal on the next resource will be taking it over that million (ounce) gold equivalent number. The independent will help calculate that and use their own parameters, but with that 300 meters I think we'd be pushing close to that already, if we’re not already over that,” Cope said.

Silver Viper’s recent geophysical and geochemical survey also identified new targets at the El Molino zone and along the Macho Libre trend, according to a company press release.

“El Molino has become probably our number one exploration target, both based on high-grade geochem samples that we're getting at surface, and then again with that geophysics showing us some very interesting things happening at depth as well. So these are all targets that have the potential to produce additional ‘El Rubis,’” Cope said.

Watch the full interview above, featuring Silver Viper Minerals President and CEO Steve Cope.