September 16, 2021 (Investorideas.com Newswire) Becoming a member of us is Morgan Lekstrom, the CEO of Lakewood Exploration, which is on monitor to develop into the following pure silver play within the US. On this interview, Mr. Lekstrom discusses the newest replace on the pending NI43-101 on the flagship Silver Strand, together with present exploration successes and new additions to the property financial institution, each within the prolific Hamilton District of Nevada, that are the Eliza Silver Venture and Silverton Silver Mine, and we’ll conclude with pending catalysts.
Maurice Jackson: Becoming a member of us for dialog is Morgan Lekstrom, the president of Lakewood Exploration Inc. (LWD:CSE). Glad to have you ever be part of us right now, as Lakewood Exploration has been busy on a number of fronts in its resolve to develop into the following pure silver play in america. Sir, I perceive you’ve gotten a number of updates for us relating to the discharge of the 43-101 on the flagship Silver Strand, together with exploration successes, portfolio growth, and pending catalysts. Earlier than we start, Mr. Lekstrom, please introduce us to Lakewood Exploration and the chance the corporate presents to shareholders.
Morgan Lekstrom: Lakewood Exploration was listed on the inventory change, the Canadian securities change 4 months in the past. We’re a newly shaped silver firm with what we name a triple-pronged method, the place we glance to have a big exploration payoff, near-term manufacturing potential, and significant acquisitions. Now we have three belongings in america, one in Idaho within the prolific Silver Valley, two in Nevada, within the Silver Alley, that are all high-grade, past-producing mines. Now we have a really tightly held share construction with slightly below 50 million shares out and solely 37.6 of them available on the market proper now. Loads of room to develop as an organization and enormous exploration payoff for shareholders.
Maurice Jackson: Mr. Lekstrom, let’s get proper to it. Take us to Idaho, to the flagship Silver Strand, the place Lakewood exploration has a pending NI 43-101. Lakewood has simply supplied the market with some essential updates. What are you able to share with us?
Morgan Lekstrom: Lakewood Exploration could be very thrilling about Silver Strand. We simply completed the 43-101 and within the submitting course of, and we’re trying ahead to transferring into exploration. Our plans proper now are being enacted. We’re actively in our present underground. It was all the time referred to as a historic underground, however we’re actively in there. Completed rehabilitation and now we’re transferring into mining the Silver Strand for creating an exploration slicing. We’re trying to get in there, drove proper from the underground and from floor. Nonetheless planning and drilling to 2,700 meters. That together with the 43-101, together with what we’re taking a look at for our drill program and our floor applications, it is main for fairly thrilling instances at Silver Strand.
Maurice Jackson: Talking of that drill program, you are going underground and near-surface. Speak to us concerning the technique first. Are you going underground first or near-surface?
Morgan Lekstrom: We’re engaged on entering into our underground. Now we have a mining crew in there proper now creating that new drill bay, a extra strategic drill location for hitting the ore physique at deeper depths and at higher angles. We’re taking a look at mobilizing that drill crew in there in September, by the tip of the summer season, and simply ready and taking a look at strategic targets for the floor program as properly.
Maurice Jackson: Now, I noticed the labs are backed up and also you’re simply starting. However do you’ve gotten any anticipation of when the market could obtain the following set of assay outcomes?
Morgan Lekstrom: I believe you will be pleasantly shocked.
Maurice Jackson: We’ll learn into that one simply as it’s, sir.
Morgan Lekstrom: Precisely.
Maurice Jackson: All proper. Leaving Idaho, let’s go to Nevada, the place Lakewood Exploration is trying to additional prolong its footprint in two mission acquisitions. Sir, what are you able to share with us?
Morgan Lekstrom: Lakewood Exploration is engaged on two transformative acquisitions that are the Eliza Silver Venture and the Silverton Mine. I believe we have touched on them earlier than, Maurice, round Eliza and Silverton, Eliza being that prolific Hamilton historic space, 1860-1870 mine, 40 million ounces out of the realm. Very high-grade. One of many mines on our declare block had 5,600 to 18,500 thousand grams per tonne silver, mineralization throughout floor, had no fashionable exploration accomplished. We’re developing with exploration plans there proper now.
Lakewood has employed a separate geologist for this work in order that we’re retaining centered on all three belongings in the proper manner. Silverton being up in Nevada as properly. These are all in that Tonopah to Ely space. Loads of prolific mine round there. Spherical Mountain is certainly one of them. The Silverton mine itself reveals the identical infrared ASTER signatures as Spherical Mountain. Now we have some superb geology work that was preliminarily accomplished to the transaction, in addition to this can be a past-producing silver mine of 933 grams a ton within the Nineteen Thirties. Once more, comparable geology to Eliza. There’s a capability there to make the most of the exploration methods, in addition to having a big exploration payoff between the 2 for our shareholders.
Maurice Jackson: It feels like quite a lot of blue sky potential there, sir. When will the transaction develop into finalized?
Morgan Lekstrom: We’re taking a look at doing that most probably this week.
Maurice Jackson: Speaking about full pace forward.
Morgan Lekstrom: We’re. Like I stated 4 months in the past, the place we had been to the place we are actually, it is fairly transformative.
Maurice Jackson: Now, as soon as the transaction has been consummated, how will you leverage the mental capital that’s onsite for each tasks?
Morgan Lekstrom: I’m glad you introduced that up. I am heading right down to Nevada with the gents that we transacted with Dave Forest, and we will be placing in our boots on the bottom with a geologist that we simply employed. We’ll get that tribal information switch instantly. We’re going to verify we have now a concrete plan. I’ve that geologist already beginning.
He is already heading down there proper now to place boots on the bottom and get his ft moist down there, or as they are saying in Nevada, preserve your ft dry, and provide you with that systematic plan, using that information within the background. We need to make it possible for after we are developing with drill targets, that they are using these previous present mines. There’s uniform mineralization in that previous California mine. We’re in a position to see perhaps somewhat extra data than what simply a normal exploration mission permits us.
Maurice Jackson: Now, earlier than we go away the property financial institution, multilayered query, what’s the subsequent unanswered query for Lakewood Exploration? When can we count on a response, and what is going to decide success?
Morgan Lekstrom: The true catalyst will probably be getting underground at Silver Strand and getting fashionable exploration occurring Eliza and Silverton. We’re properly on our strategy to doing each. I want to focus on that 4 months in the past, we vended in Silver Strand and we had been in a position to take that from having nearly a really bare-bones plan to re-opening our underground, beginning to blast as of right now, and placing an underground drill program and a floor program collectively inside 4 months is fairly spectacular for the group. A real demonstration of our geological and enterprise acumen.
Maurice Jackson: Switching gears, let us take a look at some numbers. Sir, please present us the capital construction for Lakewood Exploration.
Morgan Lekstrom: With merchandising in Eliza and Silverton, we’re at 37.4 million shares excellent. Now we have 2.7 million choices, 7.8 million warrants, after which absolutely diluted units us proper round 44.9 million shares. Tightly held about. 42% insider held proper now. Loads of room to develop. As we develop these belongings, as we develop our share construction, there’s quite a lot of worth to be seen there for shareholders.
Maurice Jackson: Earlier than we shut, Mr. Lekstrom, what would you wish to say to shareholders?
Morgan Lekstrom: Keep tuned. We really feel there are some actual thrilling instances are taking place in silver house and Lakewood Exploration portfolio growth with key belongings in two of most prolific silver states and silver locations to mine on the planet, in Nevada and Idaho is thrilling. We’re trying ahead to getting the outcomes out as we get them, but in addition developing with these plans for Nevada. Keep tuned to what we’re doing.
Maurice Jackson: Final query, what did I overlook to ask?
Morgan Lekstrom: I believe you coated it.
Maurice Jackson: Mr. Lekstrom, for somebody that wishes to be taught extra about Lakewood Exploration, please share the contact particulars.
Morgan Lekstrom: www.lakewoodexploration.com
Maurice Jackson: Mr. Lekstrom, it has been a pleasure to talk with you. Wishing you and Lakewood Exploration the very best, sir.
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