High-Grade Silver in Nevada, But Why Did So Many Others Leave? | ICG Silver & Gold CEO Interview

**Antonio** (0:00)
This video is sponsored by Terrahutton, who makes the invisible, investible. Today on the CEO BBQ, early stage epithermal gold and silver exploration in Nevada, together with ICG Silver & Gold.
But if you're short on time, subscribe to our free newsletter, and once a week, we'll send you a five-minute summary of all interviews we put out, resourcetalks.com for a free weekly newsletter. Now, although this company has not paid us for the production of this video, you should still understand that we are not financial advisors, and this is not intended as financial advice. It is a broad, general, and impersonal piece of information intended only for those who know and understand the risks of junior mining, of which there are many. Before moving on, read the company's official filings on Sitterplus.ca and do your own due diligence. Pause the screen and read all the disclaimers I've shown you because your capital is at risk. If this isn't clear, go to the last section of this video for a longer explanation of the risks and biases, and do not consume this content if you don't agree with everything said therein. Moving on, ICG Silver & Gold is a newly listed CSE junior that took control of the Tuscarora district in Elko County, Nevada through a spin-out from American Pacific very recently. The project sits roughly an hour's drive northwest of Elko at the intersection of the Carlin and Independence Trends and is a classic low-sulfidation epithermal silver gold system with some western ground that may carry Carlin style characteristics, may be an important word and maybe something that we'll touch upon later on.
As is typical for these kind of systems, the gap between grade and continuity is the central challenge here, and the company is now trying to resolve it with a 3,000-meter RC drill program that began in early July. That, of course, we'll talk about in this conversation. The holes are designed to test the new geological model that management believes can finally link the known high-grade shoots and expand them. But again, these systems are known for high-grade narrow structures, so I'll have some questions about that later on. There are other targets on this ground that we might touch upon as well, but as far as I understand it, they're not the focus right now, so the focus is clear, and that's going to be the focus of the conversation as well.
Now, for some of the numbers and a bit of the details, ICG is listed as ICG on the CSE in Canada, where the average daily volume over the last three months has only been about 23,000 units. The 52-week high is 65 cents, and a 52-week low is 33.5 cents. With a little over 43 million shares outstanding and an $18 million market cap today, this is a 41-cent stock with a 50 and a 200-day moving average, both at around 45 cents, so the stock is now trading below those two. There are 8.2 million warrants outstanding as well as 6.2 million options, representing about 20% of the 54 million shares on a fully diluted basis. The most recent financing, they closed was in March this year, raising $1.7 million at 35 cents with a half a warrant at 50 cents for two years, and that's something that we'll touch upon as well, because they do have a free trading date coming up soon.
But of course, how much money do they have left still? What are they spending it on, and when's the next time they might have to raise capital or all questions that I'll be asking later on in the conversation. But for this to actually become a conversation though, I will have to shut up already, and gentlemen, I'll let you do the talking, but first of all, thank you both for sitting down with me today.

**Steven Sirbovan** (3:28)
Thanks so much for having us, Antonio.

**Antonio** (3:30)
I'm looking forward to going over the details here, because I like it when I see new stories pop up in Nevada, but I always have a lot of questions about them. So we'll definitely talk about everything. Let's talk about the basic business strategy here at first, though. What do you want to do with this company? Is it kind of the classic binary exploration bet, or do you have larger plans for it given the size of the land package? Where do you want to take this?

**Steven Sirbovan** (3:58)
For sure. I mean, we're focused right now on this 3,000-meter drill program that we just kicked off. However, that's going to lead us right into the first resource on this project, the first MRE on it for the Tuscarora District in Q1 of 2027 That's a big milestone that Korbon and the team are pursuing. Then from there, we're going to continue to build out this district scale thesis that we've got.