In a recent interview by Natural Resource Stocks, Gary Thompson, CEO of Silver47, shared insights on the company's flagship project, Red Mountain, located in Alaska. Thompson, a seasoned geologist with a strong track record in early-stage exploration, outlined the project's significant potential and the company's ambitious plans for its development.
"It's like 2 million ounces of gold," Thompson emphasized in the interview, highlighting the project's impressive resource endowment. "If you look at it on the silver, it's you know just it's under it's about 170 million silver ounces and does the math at 179 times 30 bucks an ounce anybody can do the math and give you a sense of the metal insist you metal there but it's still on an inferred resource so we've got work to do to move it up to the confidence level which is indicated and then measured and then you get into reserves and economics."
Red Mountain boasts significant silver, gold, zinc, copper, and lead resources. The project holds an estimated 2 million ounces of gold equivalent, underlining its substantial economic potential.
"The fact that we've got these multiple Metals um it's quite a high grade it's very high grade ahead not very attractive," Thompson stated, emphasizing the project's polymetallic nature and its potential to mitigate the impact of fluctuating commodity prices. "If the price of silver gets depressed whereas lead and zinc and say gold or high it kind of balances out it normalizes your production profile if you will."
Recognizing the importance of infrastructure, Thompson highlighted the project's proximity to existing rail and road networks. "There's a rail Railway that runs from Fairbanks down to Anchorage so we're not there's a winter road or winter trail that we access into the climes," he explained. "We're looking at actually rebuilding a camp so we're still working through that so there's a bit of infrastructure um that is needed there but not a big deal."
Silver47 has ambitious plans to aggressively advance the Red Mountain project. A significant drilling program is planned for the upcoming season, to expand the known resource base and potentially improve the overall grade.
"We want to convey that message to the market because we believe that we're undervalued and people may maybe not aware or don't appreciate what we have here," Thompson stated, acknowledging the company's belief in its undervalued potential. "If we can demonstrate this high growth potential to not only grow but increase the grade but grow the resource I think that will be something meaningful to the market."
Beyond organic growth, Silver47 is actively exploring M&A opportunities to further enhance its portfolio and accelerate its development path.
The mining industry is inherently risky, and exploration projects carry significant uncertainty. Investors should conduct thorough due diligence and carefully assess their risk tolerance before considering any investment in Silver47 or any other junior mining company.
Watch the full interview:
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