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Analyst: Canadian Company's 'Exploration Success Continues' in Mexico
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Silver Viper Minerals' recent drill results and the impending maiden resource estimate are discussed in a Red Cloud Securities report.

In a Dec. 16 research note, Red Cloud Securities Derek Macpherson reported the recent drill results from Silver Viper Minerals Corp.'s (VIPR:TSX.V; VIPRF:OTCQB) phase 2 exploration program at its La Virginia project in Mexico.

The analyst noted the result highlights were from the El Rubi Main zone. Of the 12 holes drilled there, two returned high-grade silver and gold intercepts. LV20-283 showed 133 grams per ton (133 g/t) silver and 77.9 g/t gold over 1 meter (1m). LV20-277 demonstrated 493 g/t silver and 9.46 g/t gold over 1.5m.

Initial metallurgical testing, in the form of bottle roll leach tests, was done on four composites and "demonstrated good recoveries," relayed Macpherson. Dissolution values for gold came back as between 90% and 95% and for silver, between 62% and 76%.

Silver Viper intends to complete a maiden resource estimate in H1/21 for El Rubi that incorporates assays of all drilling done to date in the Main zone. Whereas the company's current CA$28 million enterprise value implies a maiden resource of about 260,000 ounces of gold equivalent, Macpherson pointed out that available data suggest it "should be larger and provide investors an attractive entry point post the recent selloff."

Regarding recent drill results from El Rubi South and El Rubi North, they "look promising," Macpherson wrote. El Rubi South returned positive intercepts along strike and 300m south of El Rubi Main, suggesting continuity between the two zones. El Rubi North drilling encountered 92 g/t silver and 1.47 g/t gold over 1m in hole LV-20-271.

Silver Viper intends to further explore these areas via additional drilling in 2021, including between El Rubi Main and El Rubi South and El Rubi Main's northern projection.

"Exploration success plus the maiden resource should drive the share price higher," Macpherson said.

Red Cloud has a Buy rating and CA$1 per share price target on Silver Viper, the stock of which is currently trading at about CA$0.42 per share.


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., December 16, 2020

Red Cloud Securities Inc. is registered as an Investment Dealer in Ontario, Quebec, Alberta and British Columbia and is a member of the Investment Industry Organization of Canada (IIROC). 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.
5. The analyst who prepared this research report has a long position, in the issuer’s securities.

Analyst Certification
Any Red Cloud Securities Inc. research analyst named on this report hereby certifies that the recommendations and/or opinions expressed herein accurately reflect such research analyst's 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.

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