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Derek Iwanaka of Prince Silver Corp. talks to Chen Lin | Metals Investor Forum Sept. 2026

Metals Investor Forum Sep 25, 2026 10:15

Summary

Prince Silver targets a maiden 100M-ounce silver-equivalent resource in the coming months, with manganese excluded until metallurgical recovery is proven.

Manganese grades run 8-10%, but the team waits on metallurgical testing before including it in the upcoming resource.

Step-out drilling continues with an 87% hit rate, supported by more than 129 historical holes of data.

Nevada's previously disturbed ground with old shafts eases permitting - an edge given manganese's US critical-metal status.

Key points on Aftermath Silver

  • The host cites Aftermath Silver as a comparable that solved manganese recovery after about two years and whose stock 'just took off' once that was announced, implied as a potential roadmap for Prince Silver.

Chen Lin's takeaways

  • Top takeaway The host argues Prince Silver is overlooked — noting 'share price is actually not performing well' relative to peers — and lists upcoming catalysts (more drilling results, potential new ground, the resource estimate, metallurgy, and acquisitions) that investors should watch.
  • He uses Aftermath Silver as a benchmark for the kind of re-rating that a successful manganese-recovery announcement could trigger for Prince.

Derek Iwanaka's takeaways

  • Top takeaway Iwanaka argues the CRD system will be 'a very large tonnage deposit' overall, with higher-grade shoots rather than uniformly high grade, and says he feels a little more confident of the 100M oz silver equivalent benchmark with every new hole.
  • On manganese, he is cautiously optimistic: the team is roughly a year into lab work with the same laboratory Aftermath Silver used (which took about two years) and he expects a clearer picture on recoveries within several months; including manganese in the silver-equivalent would push the resource 'pretty big.'
  • He frames Nevada as the project's key advantage — 'probably the best jurisdiction' for something like this — with disturbed ground, old shafts and a headframe already on site, making permitting easier, especially given manganese's designation as a US critical metal eligible for funding and loan guarantees.
  • He calls the gold discovery beneath the silver-manganese CRD 'a pleasant surprise' the old timers did not chase because it sits deeper in the sulfides, and the team is acquiring new ground to the north and hunting feeder zones where the flat-lying system could host richer mineralization.