Please provide a brief overview and history of Zacapa and its portfolio of projects. You have several projects located in the US – how did it all come together?
Well, a few years ago I saw an opportunity for porphyry copper exploration in the southwest US. We’d historically been working more in South America, and always thought we had to go further afield for better geology and opportunities. But there was really a lack of junior exploration in porphyry copper in the southwest US. There was a real opportunity there. Most of the exploration is being done by majors. So, we started acquiring porphyry copper projects, but along the way we also saw a great opportunity with Bullfrog, (in the Beatty District of Nevada,) which had lots of historical workings and the area was right in the middle of the district and had never been staked.
You have over 25 years’ experience in the industry, with multiple successes in the mining space, can you tell us more about that?
I was an accountant originally. I was the managing partner of Arthur Anderson’s Mining Practice in the Soviet Union, and then Ernest and Young’s Canadian Mining Practice. About 15 years ago, I retired and started buying up mineral properties. Now, we have mineral properties throughout Canada, the US, and South America. Often we sell those to other public companies. The two companies I founded are Libero Copper, which is focused on porphyry copper in South America and Zacapa, which is focused on that in the US.
We have identified some targets, which are identical to some of the largest discoveries in that district
As the founder and CEO of Zacapa, what excites you the most about the potential of the company?
Well, it’s an exciting time right now. We’ve spent two years getting Bullfrog ready to drill, and we’ve completed all the science with detailed mapping, geochem, and geophysics. We have identified some targets, which are identical to some of the largest discoveries in that district.
We’re surrounded by Anglo, which has about 15 drill rigs going there to the north and to the east, and to the southwest is Augusta. We’re surrounded by ongoing exploration and many significant deposits.
Zacapa recently received permits to drill the South Bullfrog project. Can you tell us a more about the upcoming drill programme?
Right now, we’re fully permitted at Bullfrog and we have a drill contractor ready to go. We’ll start drilling there within weeks of completing our financing. So, we’ll have that news throughout the summer. We’re also going to drill our Miller Mountain Gold Project in Idaho in the summer, which has some historical drill results of 7m of 21g gold and ores of 2g/t Au oxides when they were test mining in the eighties.
We’re also working on a few acquisitions to replenish our pipeline. So, we will continue to have a pipeline of porphyry copper and epithermal gold projects in the Southwest US. And eventually in the right market, once we’re drilling multiple properties, the plan is to spin those off as separate Zacapa gold and Zacapa copper companies to shareholders.
It’s probably the hottest gold district in the US right now
AngloGold Ashanti has been continuously active in consolidating the area. Can you tell us more about what has been happening in the Beatty district of Nevada and why this puts Zacapa in such an exciting position?
Anglo bought Corvus last year and Augusta has made a couple acquisitions. So, the whole district now is really owned by Anglo and Augusta. There’s a market for an easy exit once you make a discovery in that region. It’s probably the hottest gold district in the US right now.
What do you hope to accomplish in 2023? What can we expect in the next 3, 6, and 12 months?
Drilling results at Bullfrog and then Miller, and later in the year at our porphyry copper project in Arizona, and a few acquisitions that we’re working on as well.
You have a great portfolio of projects in top jurisdictions, plus a talented exploration team to help move them forward. Can you tell us why you think this could be a fantastic entry point for investors?
We’re at that stage of the market where pre-discovery companies like Zacapa are really good value. We only have a C$10M market cap. But one economic drill hole at Bullfrog is a complete game changer, and that could happen overnight.
