Delrey Metals Corp. (CSE: DLRY, FSE:1OZ, OTC:DLRYF): Focused on Vanadium and Iron in Canada; Interview with Morgan Good, Founder, President and CEO
|
By Dr. Allen Alper, PhD Economic Geology and Petrology, Columbia University, NYC, USA
on 6/12/2019
Delrey Metals Corp. (CSE:DLRY, FSE:1OZ, OTC:DLRYF) has an option to earn an 80% interest in the Four Corners, advanced stage, iron-titanium-vanadium exploration project, located in Newfoundland and Labrador. We learned from Morgan Good, Founder, President and CEO of Delrey Metals, that the Four Corners Project has positive historical drilling, metallurgy, and development economics, as well as great exploration potential. Delrey has an opportunity to prove-up this potential resource, and bring a significant amount of value into the Company, which would justify a much greater market cap. The Company also wholly owns the Star, Porcher, Peneece and Blackie Fe-Ti-V properties, located along tidewater, in western British Columbia, where they have done exploration work on all four of the projects in the spring of 2019, which produced positive results and led to the new exploration drilling program that will commence later this summer.
Delrey Metals Corp.
Dr. Allen Alper: This is Dr. Allen Alper, Editor-in-Chief of Metals News, interviewing Morgan Good, President, CEO, Director and a founder of Delrey Metals. Could you give our readers/investors a vision of your Company, where you want to take it, your goals, and what differentiates Delrey Metals from others?
Morgan Good: Sure thing. Delrey Metals' vision is to become one of the leading junior public companies worldwide, with a focus on iron and vanadium. In one of our flagship assets, which we just acquired, in the Four Corners in Newfoundland, we also have a fairly large non 43 101 deposit of iron ore and magnetite, which is enriched in vanadium and has caused excitement amongst the iron ore market. I think it's important that the Company also takes advantage of these new highs in the price of iron ore, which gives investors a hedge both on the vanadium and energy metals as well as iron, as we move forward. So in a nutshell that is what Delrey is looking to do.
Dr. Allen Alper: That sounds great, could you tell our readers/investors a bit about your properties in Newfoundland and also in British Columbia?
Morgan Good: Absolutely. An agreement on our recent acquisition has been signed with Triple Nine Resources Ltd. to earn an 80% interest, over four years, on the four corners project in Newfoundland. The project itself is approximately 76 hundred hectares of continuous ground. It's in Western Newfoundland, where everybody knows that we have a fantastic jurisdiction, always rated amongst the top ten or twelve worldwide by the Fraser institute for jurisdictions for mining and exploration. The project boasts a very exciting zone, called the Keating Hill East Zone, where historic work was done about ten years ago. Triple Nine Resources spent a little over 2 million dollars, drilled approximately a dozen holes for about 4,000 meters and have defined this very large homogeneous deposit that's enriched with iron, titanium and vanadium.
There are four other very similar structures that we know exist on the property from geophysical work, yet to be drill tested, very similar to Keating Hill. We are really, really pumped-up about getting out there over the summer and fall months and continuing the drill program that should build on what we know is there and bring the deposit up to 43 101 compliancy. Potentially, later this year, we can put out our maiden 43 101 resource estimate.
That is a summary of the Newfoundland Four Corners Project. We also have our projects out on the coast in British Columbia, in Western Canada, the Blackie, Porcher, Star and Peneece properties, which are 100% owned already by the Company. We have done two phases of work on three of the four projects already in the spring of 2019, where we did geophysical mag work, and got very positive results, showing various anomalies, and followed it up with a bunch of ground work, channel sampling, trench sampling and things of that nature, to confirm the geophysics.
Subsequently, we have received very positive results, which were published recently, now leading us into the permitting process in British Columbia for those projects. We can get out there later this summer and initiate a drill program on our highest priority targets. We will have a drill campaign running in Eastern Canada starting in mid-July.
Dr. Allen Alper: Well that sounds great! Excellent! Could you tell our readers/investors why the future looks so bright for vanadium?
Morgan Good: In recent years the price has spiked and is starting to consolidate a bit around just under $10. We expect that to actually move up higher, since China, over recent years, has implemented higher standards for strengthening their steel, in particular steel rebar, used in the construction of all types of infrastructure, buildings, bridges, roads, et cetera, which of course we all know will never stop. It is supposed to continue. It has been the biggest driver of the price of vanadium, and there is a shortage of the metal. There is a limited amount of supply out there.
Also, the vanadium redox battery provides an exciting future for energy storage, mainly from wind and solar power requirements. Vanadium is best for the larger scale batteries. The rebar and the vanadium redox batteries are going to drive the use and need for vanadium much higher over coming years.
Dr. Allen Alper: Well that sounds excellent! Could you tell our more recent readers/investors and update the rest of us on your background and your team?
Morgan Good: I have 15 plus years of finance, marketing and assisting companies with go-public transactions. My focus has been always on the capital markets. I spent a lot of time in the mining resource space. I also jumped into some Canadian health care related business opportunities over recent years, when mining was really tricky and it was hard to get things going. About a year ago I launched Delrey with Mike Blady, another Co-Director of mine, who himself has another company in the Golden triangle, called Golden Ridge Resources, which has been very successful in raising money and developing their Hank project, with a new discovery last year.
Mike is clearly another great member of the team, with technical expertise as a geologist, as well as a Capital Markets experience and expertise in finance, first and foremost. So Mike Blady and I, along with another Director, Leighton Bocking, who has significant background in also raising money, marketing companies, and working with several notable mining issuers and non-mining issuers in his career. We're the backbone of Delrey's management team and the front line, so to speak, as far as developing stories, raising capital and furthering the interests of the opportunities within Delrey.
Dr. Allen Alper: Well you have a very strong team to take Delrey Metals forward. Could you tell our readers/investors a little bit about the share structure?
Morgan Good: Of course. Currently today we have approximately 35 million shares issued, approximately 12 or 13 percent of that are owned by the directors and management. We have approximately 55 to 60 percent held amongst, what I would consider, strong financial partners and affiliates, who have assisted us in raising our first rounds of capital. None of which own more than 10 percent individually, but a rather short list of good allies that can assist us in further finance and development of our plans. The rest, approximately 30 percent, I would consider retail.
Dr. Allen Alper: Excellent! It's good to see that management has skin in the game, and believes in what you’re doing, so that's great. Could you tell our readers/investors, the primary reasons they should consider investing in Delrey Metals?
Morgan Good: I think the primary reason to invest in Delrey Metals is the Four Corners opportunity. It is an advanced stage vanadium, iron deposit that has never been fully explored. Only one of the five major zones has been drilled. I think with a 5 to 6 million dollar market cap that Delrey has today, we have an opportunity to prove up this potential resource, and bring a significant amount of value into the public company, which would justify a much greater market cap.
That is the first and major reason to invest in Delrey. Additionally, we have great blue sky opportunities with our BC Projects. We're betting big on vanadium, and the future of vanadium. Also, we can’t forget what is happening in the iron space. We have two different metals that are widely discussed right now, giving investors an interesting way of hedging their bets by investing in Delrey.
Dr. Allen Alper: That sounds excellent, is there anything else you would like to add Morgan?
Morgan Good: I should finish by saying that we're all finance guys, with great access to capital, getting the necessary money as well as making sure we bring enough investors and eyeballs to the stock itself. You're going to see a very active liquid market. I think that's very important, for new investors and current investors to see that the stock trades, has good volume, and draws attention. It gets on the radar screens of people that might not otherwise know about it, from other companies that don't have the same liquidity. It also allows you to access that capital we're talking about, because people know they actually have a real chance of investing in something that's a growing concern. Where people are busy, people are working, people are active and things are happening, we're constantly delivering updates, news and advancing our interests, so I think that's quite important for readers/investors to understand. Thank you for interviewing Delrey Metals Corp. for Metals News. We appreciate your interest.
Dr. Allen Alper: You are very welcome. What you are doing is very interesting. Your experience and expertise is very evident. Excellent! We’ll publish your press releases as they come out so our readers/investors can follow your progress.
https://delreymetals.com/
Delrey Metals Corp.
3707 – 1111 Alberni Street
Vancouver, BC V6E 0A8
info@delreymetals.com
Phone: 604-620-8904
|
|