 Hello everybody and welcome back to Investor Intel. I'm Peter Klossy Very curious about today's topic Viscount Mining Corp is a company. I have followed since it went public in 2015 I have lost the thread of the story. So today we're talking with Jim McKenzie the CEO and founder So I can learn the story again Jim welcome Peter a pleasure to be here now. I you and I seem to think we met about three years ago in Vancouver, but we're not sure Correct. So how funny in the mining industry how we go around and around and know all the same people? Absolutely, so if I count mining Put out drill results by coincidence today, and they were spectacular. Do you want to walk us through them? Well, thank you Peter. This is on our project in Colorado at Silver Cliff focusing on one of the 4 actually historical deposits on the property. It's called the Kate We drilled back there and sorry case Kate Yeah, okay, we drilled at the Kate deposit in 2016 and 2017 and got some incredible numbers and Obviously at that time we were in a terrible bear market and there really wasn't much attention paid to it by the market But what was significant about that drill program is? Just a little history first on on on this area. So it's Colorado Colorado, right? Yes, sir. Yes back in the Back in the 1970s and 1980s there was extensive drilling on the property and two main deposits the Kate and the Pasi flora co-kate drilled the Pasi flora Back in the early 80s and proved out 64 million ounces of silver But the price of silver was not conducive to putting it into production So the property got mothballed the Kate was Drilled by tannico minerals, which was a subsidiary of Tennessee oil and gas and they proved out 50 million ounces of silver and Were in the process of putting it into production building a 35 million dollar mill And this was with silver at five dollars an ounce and open pit What happened is tannico minerals was a subsidiary of Tennessee oil and gas and NYSE listed company They got bought out by a European conglomerate that was after the oil and gas assets and had no interest at all in the Resource sector so it just fell to the side The property got shuffled to the side and those sorry Jim those resource estimates predate 43 101, right? Yes, they do Peter. Yes. Yes, they do. So these are all non compliant 43 101 resources that I'm referring to today so getting back to our story of 2016-2017 we we drilled over the year and Had incredible high-grade silver starting at surface Going down to about 50 60 meters as I mentioned earlier The market just you know the market just had no interest in it Everybody back at that time as you'll know they were all smoking marijuana. It was all about the cannabis industry 2017 we put out drill results on a gold project that should have tripled the price and instead it went down Incredible bought a short sight in this on on investors So what was interesting Peter about the program as I mentioned not only did we get incredible results, but We twinned a number of holes that Teneco drilled back in the late 80s to get to their resource and In the 80s they did RC or reverse circulation drilling and when we drilled in 2016-17 we did core and every hole we twinned it was a hundred to three hundred percent higher grade Than what they had drilled in the 1980s. So again a lot of excitement amongst our geos we came out with a 43 101 and Ferdin indicated of twelve point seven million ounces of silver in 2018 and Really didn't do anything with the property as we awaited for the For the market to wake up in the resource sector In October of this year. We started phase one of a three phase drill program on the property and We focused at the Kate. So sorry to interrupt. I'm always curious What was the point of the drill program? Was it to get to know the property better or did have a specific purpose? The program we just did well, it was to what what our plan is Peter is we want to Have a revised 43 101 come out as we work towards and Hopefully increase the historical resource that Teneco had proved out So the purpose of this first ten holes that we drilled We drilled nine at the Kate and we drilled one at the Passy flora, which was our first hole We had drilled up there so going to the Kate deposit the Opportunity here was to obviously continue to drill find high-grade silver So we can increase the 43 101 but we also wanted to step out and see if the resource Expanded from the historical resource that Teneco had proven out and we determined that with the holes that we drilled last fall in 2020 and We believe that the resource extends in three directions From the original Kate deposit so our plan is to drill in February to go back in and start our next program and We will run three programs right now at the Kate as I mentioned with the Hope of having a revised 43 101 in 2021 So we can bring up our current resource to above the historical resource that Teneco proved out Passy flora names these projects We've all had we've all had projects over these years with weird names But why wouldn't one be named Kate and the one beside it named Passy flora? Well, I think that was probably the guy's wife and his dog Maybe those were the names. I you know, it's amazing what people name claims so The one hole we drilled at the Passy flora as I mentioned we we have not received that assay back, but What got the Geo's excited is it was about a hundred and fifty six meters of sulfides and Solicification which is easy for me to say Throughout the hole so as you're probably aware the assay labs are fully booked and Assays are taking a little longer to come back than what they have in the past so Based on where we drilled at the Kate we now have our plan moving forward for the next phase of drilling Which will begin in February and we will also go up to the Passy flora and Continue to drill there when this phase of the program is completed The Geo's will go over all the data and plan out the next holes and the third phase of the program should start sometime mid-summer of 2021 do you have any updated? long sections or elevations Nothing that I have in front of me right now. Okay, I always like those It helps me to understand the data better when I can see the picture, right? We are just in the process Because we just basically got the results back of getting the cross sections, etc. All put together Which will be available on our website when we receive them. Okay, so let's talk about the company itself 83 million shares outstanding you've never done a consolidation That's correct and the company's been around about a decade It's been around was I started it in 2010. We went public in 2013 that's pretty good. That's very good Treasury management that they're only 83 million out So well, we're very cognizant of what we spend our money on because the money we spend is shareholders money and We need to put it into the ground to advance our properties I'm very very cognizant of that and you know My main job is CEO is to increase shareholder value And the best way to do that is to continue to drill and put out results like we did off of the last nine holes Yeah, you got no respect for the last drill round or the last set of holes you put out and they were tremendous Today the markets responding extremely well To today's results and looking at your chart over the past year You've more or less tracked the rise in silver then with a little dump in December when silver had its run back down So it looks like nice leverage to the silver price. I Think we've I think we've really held up. Well, I Certainly think we're coming out of a bear market here in the in the resource sector I obviously am extremely bullish on gold and silver actually more bullish on silver than gold just for the what silver's used for but Yes, we've held up very well over the past year and that says a lot about our shareholders we have a Group that's been with us since day one. They're very high net worth. They're extremely long and very loyal Uh 60 percent of the stock is owned by officers directors insiders family and friends Every share that that I own I've purchased in private placements or in the market have not sold any stock This is uh, as I've said to a number of our shareholders a few times. This is not a sprint This is a marathon We really have something here on both our properties in nevada and the silver cliff project in colorado And these are opportunities that maybe come across your desk every second lifetime And to have cherry creek in nevada and silver cliff under the viscount umbrella Is extremely fortunate for us because either one of these projects are company builders on their own You just optioned off cherry creek, right? Yes, we did Centera gold, which is a major gold producer We announced earning agreement with them or an auction agreement In january of 2021 They have an opportunity to earn 70 percent of the property by spending eight million dollars Over four years Work will be starting imminently on the property And we're excited to be working with a company of the standard of centera We both started doing due diligence and uh in in august I say we started dating. We're going steady now And uh, they were very impressed with what they saw in our data room on cherry creek This is an incredibly exciting property peter. This is a This is a district that was brought to me by uh a gentleman by the name of dr. Howard latte who was uh Very close to me a well respected geo who unfortunately passed away a couple of years ago, but What was exciting about cherry creek is this is a district in the northeastern part of nevada located in what's called the Peacock trend not as well known as the carland, but i'll get to that in a moment But cherry creek had 20 previously producing mines on it produced from the mid 1800s to 1919 1920 And then in the 1940s the u.s. Government went in and mined tungsten during the second world war for the manufacture of munitions And really nothing happened After that point the main reason there were five families that controlled the district And they didn't like each other and there were a number of significant companies that tried to put it together But were unsuccessful I don't know what our secret was um It took me a year I met with every family gave them my vision and where I hope to see this go And after a year, uh, we ended up with 2600 acres Of all patented land with 20 previously producing mines on it So fast forward, uh, did a lot of work on the ground Some incredible sampling are our highest uh silver sample was 8700 grams a ton Our highest gold sample was 76 We expanded the uh, we expanded the property to about 8 000 hectares That 76 is grams per ton not ounces per ton that that's grams on the gold. Yes. Yes So we expanded we expanded the property and what was really interesting peter is Back in 2017 a gentleman by the name of dr. Mike wrestle Who used to be the chief geo of newmont? And was actually in that position When they purchased long canyon in 2010 for just over two billion dollars us Long canyon is located in the piqua trend that I alluded to earlier about 90 miles north of our property and Dr. Russell Put his top student at the time. He was the associate professor of geology at the university of nevada in reno And his student did his three-year master thesis on cherry creek And uh, what was interesting it was about 120 pages extremely technical But certainly indicated the same stratigraphy and lithology as they're finding at long canyon Which by the way when we went public in 2013 i'm digressing a bit, but as you know, you have to Have a 43 101 to qualify it as a property of merit. We hired snowden You know one of the larger mining consultant companies in the world to do the 43 101 And they also identified the same stratigraphy and lithology As long canyon So when we received this hundred-plus page thesis which was extremely technical and I asked for A dumbed-down version for me because I am not a geo And basically they said look you've got the the heart and the body Of the piqua trend and long canyon new months property has the arms and the legs We also have kinross, which has bold mountain in production as well in the piqua trend So as I mentioned this area is not as well known as the carlin trend But an interesting point are sorry and and that's because silver has always been gold's ugly younger sister Gold gold gets gold gets the headlines. That's right. But there was significant gold mined on this property as well and our geos along with our technical advisors Believe there's a significant gold deposit possibly too sitting on the property But what's interesting about the piqua trend is mark abrams. Who's our vp of exploration mark was actually recognized By the geological society of nevada in 2016 for the development of the piqua trend So we have an incredible team of geos That are working with us and centera's team On that project. We have dr. Jamie robinson who's made numerous discoveries in nevada And herald holberg who is our qp? herald actually was the gentleman that wrote the 43 101 when he worked for snowden And he liked the property so much that he has come to work with us So he actually is running our program in silver cliff right now Uh as our nevada geos are getting ready to start work with centera on the property at cherry creek in nevada So viscount mining. How's the treasury? We have about three and a half million dollars Currently, uh, so we're well financed That money going towards advancing silver cliff And as we talked about earlier We have centera spending their money at cherry creek So we don't have to worry about allocating any of the money we have in the treasury to that property at this point Any thoughts of doing the financing around here or are we in wait and see mode? No, we will not be doing any financings Right now. We are well cashed up To advance the silver cliff property in colorado And also I feel that we're extremely undervalued right now as I mentioned earlier You know, we're sitting on two company builders underneath the viscount umbrella We have a non compliant resource of Over a hundred million ounces of silver sitting on the property It is certainly not factoring into the price of our stock I think you mentioned earlier it would be open pitable too most likely the kate deposit is open pit When tanico was going to put it into production and with their 35 million dollar mill they were going to build It's open pit. This starts at surface right at the surface and goes to Goes to about 60 meters 50 to 60 meters Um, my math shows you're about a 35 million dollar market cap, which given everything you've said today seems a little light Extremely light. I like the project. I thank you for bringing me up to speed on it again I think silver is going to have a magnificent year Together of course with uranium cobalt and gold I'm not sure how much I like lithium from here on in but silver is certainly one of my top five Well, I couldn't agree with you more and the applications for silver are growing every day and um, you know, we're not seeing large silver deposits being discovered in mining friendly jurisdictions Silver that is being found in other areas of the world is deep You know the cost for an open pit as we know is is a lot less than having to build an underground mine. So I see silver Having a really nice year Um, uh, you know, I'm not the technical person that picks the price But I certainly see it considerably higher from where we are today. I would agree So nice catching up with you again, Jim. Take care of your stones. Keep them rolling If I count mining trading as vml Peter Clausi signing off from investor intel. Have a safe day