Walker River Resources Corp (CVE:WRR) CEO on High-Grade Gold Potential of Lapon Canyon Project

Walker River Resources Corp (CVE:WRR) (OTCMKTS:WRRZF) (FRA:1WV) is a junior mining company bringing high-grade, low-cost mining opportunities into production. CEO Michel David describes Nevada’s potential as a leading gold territory and shares details of the company’s flagship site, the Lapon Canyon Project. The Lapon site features good infrastructure, as well as the potential for high-grade gold mineralization. David notes Walker has earned positive drill results each of the last three years that proved the company’s geological model and showed extensive mineralization. With a $15 million market cap, David feels the company is undervalued. Walker River Resources recently issued warrants, raising $1 million, to fund additional drilling operations.

Transcript:

Narrator: Walker River Resources Corp. is a mining company with operations in mineral country in Nevada. The company is engaged in the process of identification, evaluation, acquisition and exploration of mineral properties.

Its projects include the Watshishou property and the James Bay project. Walker River Resources Corp. trades on the TSX Venture under the ticker symbol WRR.

Ed Milewski:  I’m joined now by Michel David, who’s the CEO of Walker River Resources, and you’re also the geologist!

Michel David: Well, I happen to be one of the geologists.

Ed Milewski:  One of the geologists.

Michel David: I just happen to be the geologist in charge, let’s put it that way.

Ed Milewski:  And you were educated at McGill?

Michel David: I was educated at McGill, and I’ve had a lot of experience in exploration, essentially for gold, throughout Africa, Canada, Korea, South America…my favourite is Nevada.

Ed Milewski:  Nevada is what, the fourth-biggest exporter of gold in the world, or producer of gold?

Michel David: Actually the third, the third in the world.

Ed Milewski:  Is that right?

Michel David: Yes.

Ed Milewski:  Yeah. Yeah, yeah, some people say, you know, that it’s one of the finest jurisdictions in terms of –

Michel David: Well for me, that’s why I enjoy always working there. It is the best for me, the best jurisdiction, for mining in the world, for mining exploration, as well, and it’s where the big deposits in gold are, of all types. But it’s where the big boys were born, and that’s it. There’s really a lot of big deposits there.

Ed Milewski:  And this deposit has got a lot of folklore and romance attached to it, and you’ve known about it for, since ’94?

Michel David: Yeah, I first visited the project, or the prospecting claims, in 1994, and it’s up a mountain, and I went up there and I was quite impressed with what I saw. It has a romantic history to it. And finally kept my eye on the thing for many years, and was able, finally, to do the acquisition in 2012. Very romantic story of old story of old prospecting families, mule trains, wagon trains going up hills and finding spectacular, we believe, spectacular gold, and doing a rather impressive job of mining in those years. We’re talking the years of 1900, now.

Ed Milewski:  So is this a specific mountain, is this a specific hill, or -?

Michel David: Oh yeah, it’s quite the hill. We’re just below, we’re just south of Mount Grant, which is the highest, one of the highest peaks in Nevada, and that is what helped the prospectors do the mining, when they found their zones; they were able to use topography to their advantage.

The property underwent a very small phase of very, very high-grade mining, we believe, in the years 1900 to 1920. Then it just sort of fell quietly away from, you know –

Ed Milewski:  And this project’s called Lapon?

Michel David: It’s called the Lapon Canyon. I can’t tell you why that occurs, but that’s the name of the project.

Ed Milewski:  Okay, and it’s been that way for as long –

Michel David: Forever. Since claims existed in Nevada, in the 1880s.

Ed Milewski:  So I remember the project well because I have a relationship with Claude Gendreau, who works with you?

Michel David: Yes.

Ed Milewski:  And we put some money in, oh, a couple of years ago, maybe three years ago.

Michel David: Yes, three years ago.

Ed Milewski:  Is that right? And you’ve had some really good drill results lately.

Michel David: Oh, we’ve had some really good results from the last three years, actually, but you know, markets were very bad and we didn’t have a big audience because we weren’t doing much promotion – because ‘we’ were a couple of geologists. We were working up there to prove up our theory, because nobody had ever been up there. Nobody had ever drilled there. Nobody had ever had any modelling; we were number one up there. So it’s difficult to start that job, but the idea was to prove our model, our geological model. There was mineralization, and it was extensive.

We did some brief drilling in 2016, 2017, and this year we’re able to really get going. We did a financing in eastern Canada, and that was able to launch us. We did some really good results in December, and –

Ed Milewski:  Well, you had a very active stock. I mean, the thing was sitting around $0.08 and shot up to $0.25, $0.26, trading tens of millions of shares.

Michel David: Yeah, we finally got an audience which we didn’t have before, and were able to create one. It was a long process, but –

Ed Milewski:  And you got great results, too!

Michel David: Well, that always helps. Well, the project had already had great results for the last three years, but there was nobody there to look at them. And now, suddenly, we see the audience, and for once in our lives, for this corporation, now we’re set up to do – we’re well financed. We have all the money we need to do a big program this year. We started that work towards preparing for the next drill program, which will be a little more extensive. I wouldn’t say professional, because we’re very professional, but a better set up.

Ed Milewski:  Yeah, yeah.

Michel David: Much better.

Ed Milewski:  Now I know I had some warrants from a previous financing, and those warrants went into money and I exercised my warrants, so you’ve got some of my money.

Michel David: Yes, thank you very much.

Ed Milewski:  You’re very welcome, and continued success! But, now, let’s talk about it. So it’s WRR is the ticker.

Michel David: WRR.

Ed Milewski:  And right now there’s about 120 million shares outstanding?

Michel David: Yeah, there’s about 120 million shares out.

Ed Milewski:  And so, at $0.12, so 12 times 12 is, you’re capped at about $15 million.

Michel David: Yeah, which is to me – of course, I’m the CEO. I will say this, but we’re a little low. We should be more, a better valuation. Then again, it’s a matter of promotion right now, and showing, you know, that we announced how much money had come in from the issuance of warrants; two weeks ago, we had almost $1 million come in.

Ed Milewski:  Right.

Michel David: So that – and then, you know, we’re preparing the next program. When we get the next program going, which is very, very shortly –

Ed Milewski:  The program will start soon?

Michel David: Yeah. We don’t have the exact date, but we all know we’re going to be drilling up there shortly.

Ed Milewski:  Do you have any idea how many holes you plan on drilling?

Michel David: Well, it’s going to be a different program than the stuff we’ve done before. Obviously, we want to do something a little more important, not six holes at a time. So we want to do a program that will be, hopefully, above 25 holes.

Ed Milewski:  Okay.

Michel David: It’s the number of holes that counts up there, it’s not the footage, because each hole will be about the same length, because we’re using topography to our advantage. What’s also key, we have all of the infrastructure up there. We’ve done an extremely good job. It is a mountain to climb, but we’re very safely oriented.

Ed Milewski:  What altitude are you, up there?

Michel David: We start at the mouth of the canyon. We all know Nevada’s valleys, flat valleys, mountain ranges and flat valleys. We start at 6,600 feet at the bottom of the canyon, right up to an altitude of 9,000 feet. But the access is easy, it’s not difficult.

Ed Milewski:  Okay, and I should tell the viewers: on the website there’s a very, very nifty little video that you did, that I thought was very informative and well done. And if you take the time to go to the website and play that video, it’ll tell you a lot about the history and the romance.

Michel David: Yeah, it doesn’t last very long. It’s 10 minutes. I visit with you the project at all the altitudes, I show where we’ve drilled, I show the old mining activities, the mine tunnels, and I also describe a little bit the history of the project, which I don’t describe here, but it’s very good.

Ed Milewski:  Yeah, so you have a theory, I guess, about this project, right? Like, that the mountain, is it fair to say – and I don’t want to, I’m not trying to put words in your mouth, but you have a theory that this whole mountain is mineralized?

Michel David: Well, the whole mountain. What we have are cross-fault structures, similar to what we see elsewhere in Nevada. I guess the best example would be the Comstock Lode structure. Comstock – we all know what the Comstock was in Nevada; that is number one in Nevada in terms of the number of mines, and it’s a similar structure, that long, linear fault structures are called an epithermal system. It’s well-mineralized with iron oxide; there can be gold, there can be copper…it’s a, I’d say, a typical Nevada-type cross, so it’s a fault structure.

Ed Milewski:  Have you found any copper there?

Michel David: Well, yeah, there’s always copper there, because it’s part of the suite of mineralization, so we always have a bit of copper. That helps a geologist, because you can see copper, it’s spectacular; whereas gold, you can’t see it. You don’t see the particles of gold, but copper, you’ll see it right away.

Ed Milewski:  Right, right. So that helps –

Michel David: That helps guiding what we have to do.

Ed Milewski:  Right. And I guess some of it’s oxidized, so it’s –

Michel David: Well, it’s the great blue malachite, the great, the greenish-turquoise azurite, we have a lot of that. It’s great, spectacular.

Ed Milewski:  And what’s the nearest town to where you are?

Michel David: Actually, we’re just outside of a small town called Yerington, which is well known in Nevada, which was the site of very big mines.

Ed Milewski:  And you can get there by –

Michel David: Oh, it’s a 40 minute drive, you know, and there’s a state power line that just about crosses our property; it’s an ideal infrastructure location.

Ed Milewski:  When you say 40 minutes, from where? From…

Michel David: From where we stay at Yerington. We have our office there…

Ed Milewski:  Oh, okay, okay.

Michel David: It’s a small town. That’s about an hour and a quarter out of Reno, so we’re like close to everything. State roads throughout. It’s an ideal place to work at.

Ed Milewski:  So you’re sitting there, you’ve got infrastructure.

Michel David: We have all the infrastructure we need. Our drillers are local; we work with local people. But Nevada, it’s all mining in Nevada. They’ve got the best infrastructure in the world for mining. It’s amazing     .

Ed Milewski:  I know. It’s amazing how you’ve got – in a sense, it’s ironic that the casinos are there and the gold is there.

Michel David: Well, in Yerington, we do have casinos, amazingly enough.

Ed Milewski:  So you’ve got money.

Michel David: Yes.

Ed Milewski:  You’re ready to go, the drill bit’s going to start turning, here, in a few weeks?

Michel David: Yep.

Ed Milewski:  And you’re going to be drilling for several months?

Michel David: Well, yeah, it will be a program over the period of time, over the summertime. You know, obviously.

Ed Milewski:  So in the traditional drilling, you’ll be – are you going to be drilling horizontally into -?

Michel David: No, we always drill holes at about 45 degree angles. Every hole will be a bit different; generally we try and cross the zones perpendicular to have true width as close as possible to the actual true width, so we’re going to be doing 45-degree-angle holes, generally.

Ed Milewski:  Yeah, and I want to remind the viewers, maybe six, eight weeks ago, this thing was hotter than a firecracker in terms of the volumes and the – so there’s a lot of watchers here, and it looks like it’s building, from a technical comment, I think it’s building a nice base here at around the $0.12 level.

Michel David: Yeah, it’s a nice consolidation, which is what they have to do, and now it’s going to start, you know…

Ed Milewski:  And there are still some warrants out there.

Michel David: Yes, as well. We believe that we’re well-financed now for the next couple of years, essentially, so we can really attack this mountain with a good crew and a good program.

Ed Milewski:  Good. Michel, thank you so much.

Michel David: Thank you, it was a pleasure.

Ed Milewski:  Okay. All right.

Michel David: Thank you very much, thank you.

Ed Milewski:  Thanks a lot. Bye.

Original article: Walker River Resources Corp (CVE:WRR) CEO on High-Grade Gold Potential of Lapon Canyon Project

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