Angel Wing Metals (AWM.V) is a new precious metals explorer with highly prospective properties in Mexico and Canada. AWM has consolidated a district (the El Grande project) in the prolific Sierra Madre Occidental gold-silver belt and will begin drilling unexplored grounds that have considerable artisanal past producing mines.
AWM also has a large project in the Red Lake Mining District (the Quartz Lake Project) directly adjacent to the Red Lake North project previously owned by Great Bear Resources.
SGL believes the company presents significant district scale gold/silver discovery potential. At .10 - .12 cents, we believe that Angel Wing presents a reasonable speculation with limited downside risk.
Monday, February 20, 2023
It is said that Angel Wings are associated with protection – from evil, darkness, negativity and life’s sorrows. Angel Wings are supposed to provide protection from those with malicious intentions.
For investors in junior stocks, we have gone through hell and plenty of darkness the last year. As the gold bull market reemerges, stocks that provide significant new discovery potential on a district scale are highly desirable. In our view, they are generally the most sought-after stocks in gold bull markets.
SGL believes that Angel Wing Metals (AWM.V) (formerly “Huntington Exploration”) fits the bill.
District Scale Discovery Potential in the Prolific Sierra Madre Occidental Gold-Silver Belt
Angel Wing Metals is a new story.
The company only acquired its flagship asset less than a year ago. Since doing so it has been meticulously building its management team and increasing its land package.
Angel Wing Metals’ flagship asset is the 100% owned district scale property (the El Grande Project) covering the southern extension of the Sierra Madre Occidental (SMO) Gold-Silver Belt in Nayarit state of Mexico. El Grande covers large areas of altered volcanic rocks and is being targeted for gold, silver and copper potential.
The El Grande Project is very underexplored and early stage, but there are several areas with past producing artisanal mines showing alluvial gold and shallow underground workings. The mineral occurrences on site represent a wide range of potential deposit types. Much of the project area is covered by shallow overburden cover. The historical surficial mining occurred in the areas that have outcrop exposure.
Angel Wing is the first mover in a potential district-scale gold-silver system with no modern history of exploration or diamond drilling.
This massive project is the size of Toronto and is on trend with numerous precious metals mines, projects and recent discoveries such as GR Silver’s Plomosas Project and Vizsla Silver Corp’s Panuco Project.
In October 2022, Angel Wing acquired a 100% interest in 102 square kilometers directly adjoining the El Grande Project to the southeast, making the total land package equal 650 sq kilometers. (In comparison, the Dixie Project that was explored by Great Bear Resources covered a land area of only 91 square kilometers.)
Geologist Cal Everett, an advisor to the company, believes that the project is highly prospective for gold and silver and he suggested that the company be named Angel Wing Metals for the purplish amethyst wing crystals identified on the property.
Angel Wing has been conducting geological mapping and rock and soil sampling in advance of drilling. Geophysical testing has not been done yet.
In the first half of 2023, Angel Wing plans to drill 3,000 meters as a maiden drill program, once permits are received.Angel Wing owns a 100% interest in 110 square kilometers which are contiguous with Prosper Gold’s Golden Sidewalk Project and the former Great Bear Resource’s Red Lake North Project. The project is 50km east of the prolific Red Lake District and Angel Wing believes that it demonstrates many similar geological features to other successful exploration projects in the region.
Proven Leadership Team
AWM has a proven leadership team.
Cal Everett, the former President and CEO of Liberty Gold, serves as an advisor to the Board. With Liberty Gold, he managed to achieve a $500 million market capitalization and significantly advanced its projects. Everett is now focused on corporate development and strategic planning.
The company also benefits from an experienced and successful board of directors.
Marc Sontrop, President and COO of Interward Asset Management, serves as an independent director.
Alexandria Marcotte, a geologist and VP for Osisko Mining, and Mark Santarossa, the VP of Corporate Development at Aurion Resources, also serve as independent directors.
Optionality in Canadian Projects
Angel Wing Metals also has two Canadian projects in good locations that are essentially lottery tickets in a developing gold bull market.
Angel Wing owns a 100% interest in 110 square kilometers (the Quartz Lake Property) which are contiguous with Prosper Gold’s Golden Sidewalk Project and the former Great Bear Resource’s Red Lake North Project. The project is 50km east of the prolific Red Lake District and Angel Wing believes that it demonstrates many similar geological features to other successful exploration projects in the region.
The project is very early stage and in late 2022 the company was assessing results of till sampling and completing a detailed induced polarization and magnetic survey over a large northeastern portion of the property. In the meantime, it stands to benefit from any drilling success that Prosper Gold may eventually demonstrate on its adjacent property. Hedgeless Horseman has written a great deal about Prosper Gold’s prospects.
Finally, in July 2021, Angel Wing acquired a 100% interest in the Winora Project, covering 354 hectares located 500 meters east of the historical Lingman Lake Gold Mine. The Lingman Lake Gold Mine was developed in 1940s but never reached commercial production and has had no significant exploration. The Winora Property is surrounded by claims owned by Signature Resources and while it is also early stage, it is a lottery ticket if Signature Resources can get its Lingman Lake Project on track.
Bottom Line: Favorable Entry Point for Potential District Scale Gold-Silver & Copper Discovery
SGL is always on the lookout for new stories presenting the potential for district scale gold-silver discoveries in attractive jurisdictions. We believe that Angel Wing Metal’s El Grande Project in the prolific Sierra Madre Occidental Gold-Silver Belt in Mexico fits the bill.
The company has around 110 million shares outstanding, meaning that at a price of around 10 cents, the fully diluted market capitalization is under C$15 million. Angel Wing has a couple of million in cash on the balance sheet and will need to raise funds after conducting a small drill campaign. It last raised C$6 million in June 2021 at .28 cents with warrants at .40 cents, so the stock is trading at a significant discount to the previous raise.
To be clear, this is a high-risk drill play stock, but if the company has initial drilling success, the massive potential scale of the project near established successes like Viszla Silver will attract significant market attention. So far, the company has done almost no promotion.For these reasons, Angel Wing may present an attractive drill play opportunity at around 10 – 12 cents and we will likely write a follow up post on the company as the story develops.
Disclaimer: SGL does not provide investment advice and is not a registered investment advisor. Always do your own due diligence before making an investment. Investing in securities, especially junior miners, can be risky and never invest money you cannot afford to lose. SGL cannot guarantee the accuracy of the information in this post. SGL has attempted to present the information fairly, but it may own shares of Angel Wing Metals so bias cannot be excluded. It has no relationship with Angel Wing Metals. SGL may buy or sell shares at any time.
SGL makes no representations, and specifically disclaims all warranties, express, implied, or statutory, regarding the accuracy, timeliness, or completeness of any material on this website. You should seek the advice of a securities professional regarding any stock transactions. SGL cannot guarantee in any way that it is providing all of the information that may be available. Please do your own due diligence before buying or selling any security.