Shares Outstanding: 70,110,683
VANCOUVER, Dec. 3, 2014 /CNW/ - Kootenay Silver Inc.
(TSX VENTURE: KTN.V) ("Kootenay") is pleased to announce
results on the final 2 drill holes from its inaugural Phase I drill
program on its new La Negra Breccia Silver Discovery, situated
approximately 6.5 kilometers north of Kootenay's flagship
Promontorio Silver Resource in Sonora,
Mexico.
A total of 25 holes for 3173 meters of drilling have been
completed along an approximate 400 meter strike length of the
breccia. Silver mineralization is exposed at surface and is shown
to extend to a vertical depth of at least 190 meters (approximately
110 meters above sea level) and along the entire length of the
breccia, where drill testing and surface sampling was conducted.
The breccia silver mineralization is open to the east and at depth,
with possible extensions to the west as indicated from surface
exposures.
States Kootenay President and CEO James
McDonald "We are very pleased to conclude our inaugural
drill program on the La Negra Diatreme Breccia system that has
resulted in a significant and exciting new silver discovery in
Mexico. Drilling continues to
return high grades and shows a remarkable consistency of silver
mineralization on surface and at depth across the entire length of
the breccia. Results from the inaugural program will be immediately
compiled and collated in a 3D model showing the geologic controls
and assay results. This compilation will be used to design
the next drill phase which is expected to begin early in the New
Year. Based on the outstanding results to date, the objective is to
move the project quickly to a maiden NI 43-101 resource
calculation."
The remaining two holes LN 24 and 25-14 are reported herein,
along with complete results of the 25 hole drill program.
Drill hole LN 24-14 encountered high grades of silver starting at
surface on the same section as LN 22 and 23-14. This is also the
eastern most section drilled. LN 25-14 hit 60 meters of silver
mineralized breccia from surface, which is interpreted to confirm a
south dip in this area of the breccia.
Details of the final
two drill hole intercepts are in the following table:
|
|
Drill Hole
|
|
From
|
To
|
Interval
|
Silver
|
Gold
|
Lead
|
Rock
|
|
|
(m)
|
(m)
|
(m)
|
(gpt)
|
(gpt)
|
%
|
Type
|
LN-24-14
|
-45/360 Az
|
0
|
76
|
76
|
92.88
|
0.063
|
0.69
|
Breccia/Stockwork
|
|
Including
|
29
|
41
|
12
|
397.83
|
0.246
|
1.76
|
Breccia
|
144m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-25-14
|
-45/015
Az
|
0
|
61
|
61
|
44.86
|
0.017
|
0.17
|
Breccia
|
|
Including
|
0
|
19
|
19
|
50.11
|
0.020
|
0.34
|
Breccia
|
|
Including
|
3
|
30
|
27
|
74.18
|
0.026
|
0.24
|
Breccia
|
|
Including
|
21
|
30
|
9
|
128.55
|
0.037
|
0.13
|
Breccia
|
115m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
To view cross sections of the drill holes visit: La Negra
Cross Sections LN 01 to LN 25-14. To view a drill plan
outlining the location of the La Negra drilling visit: La
Negra Drill Plan Map.
Phase I Highlights include:
- LN 01-14 Containing from surface;
- 110.46 gpt Ag over 41 meters including
- 223.23 gpt Ag over 13 meters
- LN 02-14 Containing from surface;
- 141.28 gpt Ag over 50 meters including
- 212.64 gpt Ag over 28 meters and
- 323.13 gpt Ag over 15 meters
- LN 03-14 Bottomed in mineralized breccia in a vertical hole
from surface;
- 82.57 gpt Ag over 144 meters including
- 98 gpt Ag over 106 meters and
- 195.84 gpt Ag over 25 meters
- LN 04-14 Containing from surface;
- 92.98 gpt Ag over 92 meters including;
- 149.43 gpt Ag over 20 meters from surface and
- 146.38 gpt Ag over 31 meters from 43 meter depth
- LN 05-14 Containing from surface;
- 91 gpt Ag over 119 meters including
- 182.87 gpt Ag over 40 meters
- 367.85 gpt Ag over 14 meters
- LN 06-14 Containing from surface and bottomed in mineralized
breccia;
- 92.79 gpt Ag over 98 meters including
- 168.33 gpt Ag over 21 meters including
- 214.3 gpt Ag over 13 meters
- LN 07-14 Containing from surface;
- 132.49 gpt Ag over 59 meters including
- 149.6 gpt Ag over 43 meters and
- 185.35 gpt Ag over 17 meters
- LN 08-14 Containing from 13 meter depth;
- 91.89 gpt Ag over 49 meters including
- 251 gpt Ag over 11 meters
- LN 10-14 Containing from 5 meters;
- 87.08 gpt Ag over 35 meters including
- 135.52 gpt Ag over 21 meters
- LN 13-14 Containing from surface;
- 61.43 gpt Ag over 140 meters including
- 79 gpt Ag over 47 meters and
- 355.16 gpt Ag over 8 meters
- LN 21-14 Containing from surface and bottomed in
mineralization;
- 156.47 gpt Ag over 200 meters including
- 420.34 gpt Ag over 50 meters from 150 to 200 meters
including
- 1337.66 gpt Ag over 6 meters and
- 492.30 gpt Ag over 17 meters at the bottom of the hole excl.
the 6 meters of 1337 gpt Ag interval
- LN 22-14 Containing from surface
- 265.31 gpt Ag including over 34 meters including
- 467.77 gpt Ag over 18 meters
- LN 23-14 Containing from surface;
- 239.92 gpt Ag over 30 meters including
- 459.76 gpt Ag over 13 meters
- LN 24-14 from surface on section with LN 22 and 23-14;
- 92.88 gpt Ag over 76 meters including
- 397.83 gpt Ag over 12 meters
Management believes that La Negra is a diatreme breccia which
implies good depth potential as diatreme breccias can extend to
depths of 100's of meters. The depth potential in the La Negra
Breccia is underscored by hole LN 21-14 as it bottoms in high
silver grades at a vertical depth of around 150 meters showing the
potential for resources to depth. The depth of the high silver
grade shows the grades are primary so not a result of supergene
enrichment.
Due to faulting and possibly the nature of the breccia contact
itself the width of the breccia body is not well defined at this
time. Thus far the apparent widths of the breccia interpreted from
drilling are varying from about 60 to over 100 meters within a
broader 200 by 500 meter area of breccia outcrop exposures.
The La Negra Breccia is cut by two northwest trending faults
across which the dip of the breccia changes from near vertical to
moderate southerly dips. This is evidenced by holes LN 11, 12, 14,
18, 19 and 20, which were drilled through the breccia into the
footwall or directly within the footwall thus missing the bulk of
the breccia body. Hole LN 25-14 drilled to the north confirms
a southerly dip encountering 60 meters of breccia from surface
followed by about 50 meters of stockwork and argillic
alteration.
Drill hole intercepts
LN 01 to 23-14 (Previously Announced):
|
|
Drill Hole
|
|
From
|
To
|
Interval
|
Silver
|
Gold
|
Lead
|
Rock
|
|
|
(m)
|
(m)
|
(m)
|
(gpt)
|
(gpt)
|
%
|
Type
|
LN-01-14
|
-45/180
Az
|
3
|
44
|
41
|
110.46
|
0.068
|
0.126
|
Breccia
|
|
Including
|
18
|
37
|
19
|
177.1
|
0.113
|
0.056
|
Breccia
|
|
Including
|
18
|
31
|
13
|
223.23
|
0.129
|
0.07
|
Breccia
|
95m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-02-14
|
-60/180
Az
|
0
|
50
|
50
|
141.28
|
0.108
|
0.215
|
Breccia
|
|
Including
|
0
|
40
|
40
|
161.25
|
0.121
|
0.256
|
Breccia
|
|
Including
|
19
|
47
|
28
|
212.64
|
0.149
|
0.144
|
Breccia
|
|
Including
|
19
|
34
|
15
|
323.13
|
0.198
|
0.216
|
Breccia
|
100m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-03-14
|
-90/360
Az
|
0
|
144
|
144
|
82.57
|
0.058
|
0.309
|
Breccia
|
|
Including
|
0
|
27
|
27
|
108.32
|
0.077
|
0.618
|
Breccia
|
|
Including
|
0
|
106
|
106
|
98.03
|
0.062
|
0.373
|
Breccia
|
|
Including
|
0
|
78
|
78
|
114.63
|
0.066
|
0.383
|
Breccia
|
|
Including
|
53
|
78
|
25
|
195.84
|
0.107
|
0.144
|
Breccia
|
|
Including
|
54
|
67
|
13
|
229.38
|
0.104
|
0.166
|
Breccia
|
144m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-04-14
|
-60/360
Az
|
0
|
114
|
114
|
78.54
|
0.066
|
0.311
|
Breccia
|
|
Including
|
0
|
92
|
92
|
92.98
|
0.080
|
0.351
|
Breccia
|
|
Including
|
0
|
67
|
67
|
118.93
|
0.083
|
0.409
|
Breccia
|
|
Including
|
0
|
20
|
20
|
149.43
|
0.073
|
0.85
|
Breccia
|
|
Including
|
43
|
74
|
31
|
146.38
|
0.096
|
0.103
|
Breccia
|
152m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-05-14
|
-45/360
Az
|
0
|
119
|
119
|
91
|
0.046
|
0.576
|
Breccia
|
|
Including
|
0
|
88
|
88
|
108.85
|
0.040
|
0.625
|
Breccia
|
|
Including
|
89
|
119
|
30
|
40.4
|
0.065
|
0.427
|
Breccia
|
|
Including
|
51
|
91
|
40
|
182.87
|
0.071
|
1.171
|
Breccia
|
|
Including
|
51
|
65
|
14
|
367.85
|
0.111
|
1.84
|
Stockwork
|
147m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-06-14
|
-60/090
Az
|
3
|
101
|
98
|
92.79
|
0.104
|
0.153
|
Breccia
|
|
Including
|
3
|
55
|
52
|
124.36
|
0.089
|
0.224
|
Breccia
|
|
Including
|
3
|
24
|
21
|
168.33
|
0.126
|
0.416
|
Breccia
|
|
Including
|
3
|
16
|
13
|
214.3
|
0.131
|
0.618
|
Breccia
|
101m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-07-14
|
-60/270
Az
|
5
|
64
|
59
|
132.49
|
0.085
|
0.26
|
Breccia
|
|
Including
|
5
|
48
|
43
|
149.60
|
0.079
|
0.27
|
Breccia
|
|
Including
|
31
|
48
|
17
|
185.35
|
0.153
|
0.23
|
Breccia
|
|
Including
|
5
|
116
|
111
|
83.89
|
0.052
|
0.23
|
Breccia/Stockwork
|
|
Including
|
65
|
116
|
51
|
17.06
|
0.007
|
0.19
|
Stockwork
|
|
Including
|
106
|
116
|
10
|
41.90
|
0.013
|
0.47
|
Stockwork
|
130m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-08-14
|
-45/180 Az
|
13
|
62
|
49
|
91.89
|
0.015
|
0.26
|
Breccia/+Andesite
|
|
Including
|
30
|
41
|
11
|
251.00
|
0.035
|
0.15
|
Breccia
|
|
Including
|
53
|
62
|
9
|
59.70
|
0.009
|
0.53
|
Breccia
|
137m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-09-14
|
-60/180 Az
|
9
|
37
|
28
|
60.00
|
0.038
|
0.32
|
Breccia
|
|
Including
|
9
|
23
|
14
|
64.57
|
0.044
|
0.39
|
Breccia
|
105m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-10-14
|
-90/360 Az
|
5
|
40
|
35
|
87.08
|
0.037
|
0.51
|
Breccia/+Andesite
|
|
Including
|
10
|
35
|
25
|
116.56
|
0.045
|
0.60
|
Breccia
|
|
Including
|
14
|
35
|
21
|
135.52
|
0.053
|
0.65
|
Breccia
|
|
|
70
|
78
|
8
|
37.25
|
0.005
|
0.24
|
Breccia
|
|
|
157
|
163
|
6
|
38.83
|
0.063
|
0.27
|
Breccia
|
191m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-11-14
|
-60/360 Az
|
6
|
11
|
5
|
56.33
|
0.010
|
0.33
|
Breccia
|
|
|
27
|
29
|
2
|
32.50
|
0.003
|
0.01
|
Stockwork
|
131m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-12-14
|
-45/360 Az
|
13
|
28
|
15
|
29.76
|
0.009
|
0.44
|
Stockwork/Breccia
|
|
Including
|
17
|
28
|
11
|
37.33
|
0.010
|
0.47
|
Breccia
|
117m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-13-14
|
-60/090 Az
|
0
|
140
|
140
|
61.43
|
0.048
|
0.38
|
Breccia/Stockwork
|
|
Including
|
24
|
71
|
47
|
79.00
|
0.052
|
0.31
|
Breccia
|
|
Including
|
12
|
19
|
7
|
95.57
|
0.050
|
0.22
|
Stockwork
|
|
Including
|
24
|
34
|
10
|
83.33
|
0.050
|
0.10
|
Breccia
|
|
Including
|
54
|
64
|
10
|
136.50
|
0.057
|
0.73
|
Breccia
|
|
Including
|
66
|
71
|
5
|
120.20
|
0.013
|
0.74
|
Breccia
|
|
Including
|
112
|
120
|
8
|
355.16
|
0.118
|
2.97
|
Breccia
|
|
Including
|
132
|
140
|
8
|
52.75
|
0.089
|
0.19
|
Breccia
|
183.5m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-14-14
|
-60/270 Az
|
0
|
33
|
33
|
179.65
|
0.033
|
0.33
|
Breccia
|
|
Including
|
13
|
24
|
11
|
412.11
|
0.062
|
0.24
|
Breccia
|
|
Including
|
26
|
30
|
4
|
181.00
|
0.055
|
0.72
|
Breccia
|
|
|
48
|
60
|
12
|
31.50
|
0.008
|
0.13
|
Stockwork
|
92m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-15-14
|
77m EOH
|
No Significative
Results
|
Argillic
Andesite
|
LN-16-14
|
60m EOH
|
No Significative
Results
|
Argillic/Propylitic
|
LN-17-14
|
51m EOH
|
No Significative
Results
|
Argillic/Propylitic
|
LN-18-14
|
156m EOH
|
No Significative
Results
|
Argillic/Propylitic
|
|
|
|
|
|
|
|
|
|
LN-19-14
|
-45/180 Az
|
70
|
82
|
12
|
289.58
|
0.040
|
1.42
|
Breccia
|
|
Including
|
74
|
82
|
8
|
421.37
|
0.051
|
1.93
|
Breccia
|
193m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-20-14
|
-45/180 Az
|
51
|
61
|
10
|
33.70
|
0.030
|
0.40
|
Stockwork
|
|
|
97
|
133
|
36
|
79.05
|
0.065
|
0.24
|
Breccia/Stockwork
|
|
Including
|
105
|
133
|
28
|
99.35
|
0.089
|
0.24
|
Breccia/Stockwork
|
|
Including
|
111
|
133
|
22
|
107.66
|
0.100
|
0.16
|
Breccia
|
192m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-21-14
|
-45/290 Az
|
0
|
200
|
200
|
156.47
|
0.103
|
0.18
|
Breccia/Stockwork
|
|
Including
|
41
|
57
|
16
|
114.31
|
0.009
|
0.21
|
Breccia
|
|
Including
|
119
|
128
|
9
|
392.11
|
0.218
|
0.15
|
Breccia
|
|
Including
|
150
|
158
|
8
|
258.37
|
0.155
|
0.07
|
Breccia
|
|
Including
|
164
|
169
|
5
|
476.20
|
0.294
|
0.14
|
Breccia
|
|
Including
|
150
|
200
|
50
|
420.34
|
0.183
|
0.23
|
Breccia
|
|
Including
|
174
|
180
|
6
|
1337.66
|
0.475
|
0.28
|
Breccia
|
|
Including
|
183
|
200
|
17
|
492.30
|
0.128
|
0.50
|
Breccia
|
200m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-22-14
|
-90/360 Az
|
0
|
34
|
34
|
265.31
|
0.114
|
0.75
|
Breccia/Stockwork
|
|
Including
|
16
|
34
|
18
|
467.77
|
0.201
|
1.11
|
Breccia
|
82m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LN-23-14
|
-45/180 Az
|
0
|
30
|
30
|
239.92
|
0.053
|
0.41
|
Breccia/Stockwork
|
|
Including
|
17
|
30
|
13
|
459.76
|
0.090
|
0.59
|
Breccia
|
|
Including
|
17
|
23
|
6
|
899.50
|
0.161
|
1.15
|
Breccia
|
|
Including
|
18
|
19
|
1
|
3040.00
|
0.426
|
4.53
|
Breccia
|
78m EOH
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current Phase I Drill Program
Drilling in the Phase I program was conducted in widely spaced
fences along 400 of 500 meters of La Negra's length to provide
information on the sub-surface grade, continuity and geometry of
the mineralized Breccia system. Current holes were broadly spaced
as single holes or fences of holes from the same platforms in 115
to 50 meter spacing's along strike. Extensive zones of breccia and
stockwork were encountered along the strike length and dips seem to
vary from steep northerly dips to moderate southerly dips. The
Phase I drill program totaled 25 HQ diameter core holes with 3173.5
meters of drilling.
La Negra Silver Discovery
The La Negra Breccia prospect is situated approx. 6.5 kms north
of Kootenay's flagship Promontorio Silver Resource in Sonora, Mexico and is contained within a 25 x
15 km mineralized corridor, the 'Promontorio Mineral Belt.' The
current Phase I drill program on La Negra follows a highly
successful trenching and surface sampling program that confirmed
widespread silver mineralization exists over a large 100 to 200
meters by 500 meters area on surface. (See news releases from
May 28th and June 5th, 2014 for more details).
To View Full Results of Sampling and drill Program Visit:
www.kootenaysilver.com.
QA/QC
Core is being detailed logged and sampled with half the core
being bagged, tagged, catalogued, sealed and sent to an accredited
assay lab for analysis. A quality control program including
blanks, standards and replicates is being used similar to that used
on the Promontorio drill program. Geotechnical data such as
recovery, RQD and density are being recorded also. All drilling has
been with HQ core and is being done by BD Drilling from
Guadalajara, Mexico. Further
Quality Assurance and Control procedures and details on assays
procedures and laboratories used are disclosed on the Kootenay
Silver Inc. website.
The foregoing geological disclosure has been reviewed and
verified by Kootenay's CEO, James
McDonald, P.Geo (a qualified person for the purpose of
National Instrument 43-101, Standards of Disclosure for Mineral
Projects). Mr. McDonald is a director of Kootenay.
ABOUT KOOTENAY
Kootenay Silver Inc. is actively developing mineral projects in
the Sierra Madre Region of Mexico
and in British Columbia, Canada.
Its flagship property is the former producing Promontorio Silver
mine in Sonora State, Mexico.
Kootenay's objective is to develop near term discoveries and
long-term sustainable growth. Its management and technical team are
proven professionals with extensive international experience in all
aspects of mineral exploration, operations and venture capital
markets. Multiple, ongoing J/V partnerships in Mexico and Canada maximize potential for additional, new
discoveries while maintaining minimal share dilution.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward-Looking Statements: The information in
this news release has been prepared as at December 2, 2014. Certain statements in
this news release, referred to herein as "forward-looking
statements", constitute "forward-looking statements" under the
provisions of Canadian provincial securities laws. These
statements can be identified by the use of words such as
"expected", "may", "will" or similar terms.
Forward-looking statements are necessarily based upon a
number of factors and assumptions that, while considered reasonable
by Kootenay as of the date of such statements, are inherently
subject to significant business, economic and competitive
uncertainties and contingencies. Many factors, known and
unknown, could cause actual results to be materially different from
those expressed or implied by such forward-looking
statements. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the
date made. Except as otherwise required by law, Kootenay
expressly disclaims any obligation or undertaking to release
publicly any updates or revisions to any such statements to reflect
any change in Kootenay's expectations or any change in events,
conditions or circumstances on which any such statement is
based.
Cautionary Note to US Investors: This news
release may contain information about adjacent properties on which
we have no right to explore or mine. We advise U.S. investors that
the SEC's mining guidelines strictly prohibit information of this
type in documents filed with the SEC. U.S. investors are cautioned
that mineral deposits on adjacent properties are not indicative of
mineral deposits on our properties. This news release may contain
forward-looking statements including but not limited to comments
regarding the timing and content of upcoming work programs,
geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address
future events and conditions and therefore involve inherent risks
and uncertainties. Actual results may differ materially from those
currently anticipated in such statements.
This press release uses the terms "Measured", "Indicated",
and "Inferred" resources. United
States investors are advised that while such terms are
recognized and required by Canadian regulations, the United States
Securities and Exchange Commission does not recognize them.
"Inferred Mineral Resources" have a great amount of uncertainty as
to their existence, and as to their economic and legal feasibility.
It cannot be assumed that all or any part of an Inferred Mineral
Resource will ever be upgraded to a higher category. Under Canadian
rules, estimates of Inferred Mineral Resources may not form the
basis of feasibility or other economic studies. United States investors are cautioned not to
assume that all or any part of Measured or Indicated Mineral
Resources will ever be converted into Mineral Reserves.
United States investors are also
cautioned not to assume that all or any part of a Mineral Resource
is economically or legally mineable.
SOURCE Kootenay Silver Inc.