My visit of Kerr-Project (Silver Kings Kuya Silver) & ELBMDuring my recent trip to Ontario, I was able to visit the mining areas at the Kerr Project (Silver Kings by Kuya Silver) on 5/16 and 5/17/2023. In parallel, there was a detailed presentation by the Kerr Project lead geologist Mr. David Lews, who was very engaged in explaining the available findings from the ongoing drill programs.
Parallel to my visit to the Kerr Project I also visited the cobalt refinery and recycling plant of Electra Battery Material Corp. An extensive meeting with CEO Trent Mell and his management team in the Toronto office concluded my trip.
Below is my report for those interested in Kuya Silver:
16.05.2023 / Presentation from 18:00 (duration 2h)
17.05.2023 / visit of the mining areas in the Kerr project (duration 5h)
Presenter David Stein (CEO), David Lewis (Geologist and Exploration Director), Mike Robert (Geologist), Ms. Maura Lendon (Counsel, Chair of the Board), Josh Jackman
1st Kuya Silver, Peru (David Stein, 1/2h)
2nd Kuya Silver, Kerr Project "Silver Kings" (David Lewis, 1 1/2h)
Participants 1x Toronto Dominion Bank (Ian Godfrey Financial Advisor and Kuya Shareholder) and myself.
The Campbell-Crawford area within the Kerr project appears to have great potential. Here, a recent drill hole in the Angus vein returned 16,838 g/t, indicating bonanza-grade silver mineralization. Campbell-Crawford is located about 1 kilometer from the North Drummond area.
According to David Stein and David Lewis, official permits for further drilling near the Angus vein should be received in the next couple of weeks and then proceeded with expeditiously. This bodes well for further positive drill results.
Kuya now owns 100% of the Kerr project, as well as 100% of the former Silver Kings joint venture. Electra was paid out and now owns shares in Kuya Silver as well as royalties on 2% of the Kerr project production. The Silver Kings project, which holds a 100% interest in the entire Kerr project, covers 18,000 hectares of land.
Kuya Silver holds mining patents and 1 mining lease on the Kerr project.
During the May 17, 2023 site visit to some of the mining areas at the Kerr Project, the specific results of the drilling to date and the geological findings derived therefrom were again outlined, in each case on site. The tour concluded with a visit to Kuya's mill, which is currently non-operational. The site and existing buildings contain a number of physical samples from the drilling to date, which show traces of silver as well as cobalt veins in physical form.
In response to my question regarding the current status of Bethania mine, David Stein (CEO) commented as follows: "We will be announcing the progress of the final drilling on the Kerr project, a capital raise will follow (private placement) and we will begin toll milling Bethania ore by the end of the year, subject to the availability of additional capital.“
In summary, there are experts in geology working here. David Stein, a CEO who used to be an analyst, heads the company, which can also be seen as a positive.
According to David Stein, the financial figures for 1Q'23 will be published by the end of May.
I can e-mail photos of the May 17, 2023 tour on request.