Analyst Calls Drill Results at Mexico Project ‘Spectacular’

Source: Streetwise Reports   04/08/2021

The results and implications of new 2020 drill results from Silver Viper Minerals’ La Virginia project are discussed in a Red Cloud Securities report.

In a March 2 research note, Red Cloud Securities analyst David Talbot reported that Silver Viper Minerals Corp. (VIPR:TSX.V; VIPRF:OTCQB) announced “spectacular” 2020 drill results from the El Rubi prospect at La Virginia, including the highest grade and deepest interval encountered thus far.

“We expect the stock to rerate towards our target of CA$1/share as drilling success continues to demonstrate the scale potential of La Virginia,” Talbot wrote. Currently, Silver Viper is trading at about CA$0.60 per share.

“Three main zones of mineralization were intercepted and for the first time ever, drilling intercepted high grade base metals highlighting increased potential,” the analyst stated.

Talbot discussed the new results, six holes drilled in the El Rubi prospect as part of the explorer’s 2020 phase 2 drill program. Holes were designed to test three targets: the intersection of the El Rubi and Western zones at depth (LV21-289, a record hole), the Western zone (LV20-284 and -285) and the southern projection of the main El Rubi area (LV20-286, -287 and -288).

Highlight hole LV21-289 set a project record for the highest grade and widest silver and gold hits to date. Specifically, the hole demonstrated 18 grams per ton (18 g/t) silver and 0.69 g/t gold over 130 meters (130m), including 363 g/t silver and 21.2 g/t gold over 19.3m.

Along with the precious metals, including and intercept of 10,681 g/t silver and 738 g/t gold over 0.5m, LV21-289 encountered high grades of base metals, including 6.74% lead and 7.11% zinc over 0.5m.

“Results from the upper portion of the hole (thought to represent the southern projection of the Western zone) continue to represent the open-pit potential of the El Rubi area,” noted Talbot.

Drill results also returned multiple broad, mineralized intercepts in the Western zone, Talbot relayed. This was exemplified by hole LV20-284 that showed 44 g/t silver and 0.77 g/t gold over 47m (true width of 28.95m) as well as 42 g/t silver and 1.06 g/t gold over 16.5m (true width of 10.16m).

“Results from this round of drilling indicate that management has determined the structural controls on the property, leading to positive exploration results,” Talbot wrote.

Now, the mineralization at El Rubi extends for more than 500 meters along strike and 300 meters vertically, Talbot indicated. Silver Viper intends to continue exploration and infill drilling at the prospect and release a maiden resource estimate for La Virginia in H1/21.

Red Cloud has a Buy rating on Silver Viper.

“Silver Viper has several attributes that should appeal to investors: friendly jurisdiction, high quality assets, potential from multiple newly identified anomalies, quick resource delineation and a strong management and technical team that is well aligned with shareholders at 23% interest,” Talbot wrote.

“Continued exploration success plus the maiden resource estimate should drive the share price higher,” Talbot stated.

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1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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Disclosures from Red Cloud Securities, Silver Viper Minerals Corp., Exploration Update, March 2, 2021

Part of Red Cloud Securities Inc.’s business is to connect mining companies with suitable investors. Red Cloud Securities Inc., its affiliates and their respective officers, directors, representatives, researchers and members of their families may hold positions in the companies mentioned in this document and may buy and/or sell their securities. Additionally, Red Cloud Securities Inc. may have provided in the past, and may provide in the future, certain advisory or corporate finance services and receive financial and other incentives from issuers as consideration for the provision of such services.

Company Specific Disclosure Details

3. In the last 12 months preceding the date of issuance of the research report or recommendation, Red Cloud Securities Inc. has performed investment banking services and has been retained under a service or advisory agreement by the issuer.

4. In the last 12 months, a partner, director or officer of Red Cloud Securities Inc., or the analyst involved in the preparation of the research report has received compensation for investment banking services from the issuer.

Analyst Certification
Any Red Cloud Securities Inc. Analyst named on the report hereby certifies that the recommendations and/or opinions expressed herein accurately reflect such research analyst¬ís personal views about the companies and securities that are the subject of this report. In addition, no part of any research analyst’s compensation is, or will be, directly or indirectly, related to the specific recommendations or views expressed by such research analyst in this report.

( Companies Mentioned: VIPR:TSX.V; VIPRF:OTCQB,
)

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