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Jim Gordon
Hi, I’m Jim Gordon and you’re watching Market One Minute. Joining us is Serafino Iacono, executive chairman and CEO of Denarius Silver, Serafino welcome.
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Serafino Iacono
Thank you for having me.
Jim Gordon
Great to have you. Tell us how the company acquired the Lomero-Poyatos deposit and what makes it such an attractive asset?
Serafino Iacono
Well, the project was acquired about 12 months ago from an Australian group that had the exploration rights of the project. We knew the Lomero-Poyatos project from past history, and from the past work that were done by a couple of other companies. What makes it attractive is very simple: that is probably one of the top polymetallic deposits undeveloped in the pyrite belt of Spain.
Before it became fashionable, we saw the writing on the wall that all these electric cars and all this infrastructure that everybody’s talking about, was going to spur up exploration places to find deposits that have all the right metals, and Spain is one of those places. The pyrite belt of Spain is probably the number one in the world for polymetallic concessions. In this deposit we are sitting with over 20 million tons of material, with value of over 1,000 per ton of minerals in place that includes gold, includes silver, it includes copper, zinc and lead.
Jim Gordon
And can you provide details on the drill programs Denarius recently commenced at Lomero-Poyatos and what are the primary objectives for 2022?
Serafino Iacono
The seven drill holes that we have done are confirmation drilling. The reason that we’re doing confirmation drilling, this is a deposit that it’s very well defined. The work that was done in the previous was done by two companies. They did 43-101, but we as a company that does this kind of thing all the time and we develop projects, we needed to do an extra step, which was confirmation that whatever work was done in the past was done right, and that the numbers that they gave us on the 43-101 report coincide.
So, the first seven drill holes have been completed. We’re going to be doing another 10 that’s going to be twin holes to the existing holes. So far, what we’ve seen, which is the good thing is visually the mineralization is there. There were already samples that have been sent to labs to be tested, but on the visual side, where it said that there was 12 metres of minerals, we actually got 12 metres and plus, so it’s actually turning out even better than the original work that was done by the previous guys.
The next step is going to be the work that we’re going to be doing with the lab. Once we confirm that the grades are what they’re supposed to be, those we’ll take to the next step, which is going to be infill drilling. And then we’re going to start doing 60,000 metres of drilling to take the project to pre-feasibility within the next few months.
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Jim Gordon
And who are some of these significant shareholders of the company and how are they involved in advancing Denarius?
Serafino Iacono
Well, let’s start with Gran Columbia. Gran Columbia Gold is the largest shareholder with 27 per cent of the company. King Street got 17 per cent or 18 per cent of the company. Myself, I’m a large shareholder of the company. I’ve been investing since the inception of the company in buying shares in the private placement and in the market on a regular basis. We have the Fiore group is also another large shareholder of the company, and then institutional investors.
Jim Gordon
Finally, Serafino, what is the general outlook for precious and base metals in 2022?
Serafino Iacono
Well, you see it right now with inflation coming in, finally the U.S. governments and the world has woken up. If you asked me gold is at the right place. It’s still the best hedge against inflation. I believe that in the new year, gold is going to start testing the 2,000 again. Silver, it’s also a metal that is going to be used a lot in the green technology that it’s going to be done. So because although it’s a precious metal, it’s also an industrial mineral, with a lot of value for the electronics. So that’s going to be part of it.
The other minerals, there isn’t enough zinc in the world with the current mines to produce all the batteries and all the things that the world is talking about of going green by 2050 or 2030, whichever way you want to look at it. Copper is going to go through the roof and zinc is going to go through the roof, and so are all the metals associated with this new wave.
And then on top of that, you have geopolitical problems like in Peru. A few days ago, an attempt by the government of doing it nationally, and nationalization is going to make it very difficult for people to look at minerals. Now, remember we are in Spain. Denarius is in Spain, is in Europe. Europe is a fantastic jurisdiction. Spain is a fantastic jurisdiction and very easy to work with. So, we are very happy to have this company over here.
Jim Gordon
Serafino thanks for joining us.
Serafino Iacono
Thank you, Jim. Thank you for having me.
ABOUT DENARIUS SILVER CORP.:
Denarius Silver Corp. (TSXV: DSLV) is a Canadian-listed public company engaged in the acquisition, exploration, development and eventual operation of mining projects in high-grade districts, with its principal focus on the Lomero Project in Spain and the Guia Antigua Project in Colombia.
This story was provided by Market One Media Group for commercial purposes.