VANCOUVER, BC, Nov. 12, 2020 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") is pleased to
announce results from the remaining seven holes of the 40-hole
program totaling 4,153 meters at the Copalito silver-gold project
(the "Property"), located in Sinaloa State, Mexico. These results are part of the first
ever drill program at the Property with previous results from the
program announced in July and October
2020.
Highlights from Holes BDH-20-34 to BDH-20-40
include:
BDH-20-040 in the 5 Senores Vein
- 1,813 gpt silver equivalent ("Eq") over 0.51 meters
consisting of 16.95 gpt gold, 369 gpt silver and
3.74% lead plus zinc within
-
- 933 gpt silver Eq over 2.25 meters consisting of 6.65 gpt
gold, 335 gpt silver and 2.6% lead plus zinc; and
- 311 gpt silver Eq over 9.05 meters consisting of
2.09 gpt gold, 124 gpt silver and 0.795% lead plus zinc.
- This hole is one of the deepest vertical holes drilled to date
at an elevation of about 600 meters above sea level.
BDH-20-039 in the 5 Senores Vein
- 213 gpt silver Eq over 3.3 meters consisting of 128.1 gpt
silver, 0.66 gpt gold, and 1.17% lead plus zinc and 183.66 gpt
silver Eq over 4.0 meters consisting of 109.6 gpt silver, 0.84 gpt
gold, and 0.26% lead plus zinc within:
-
- 93.78 gpt silver Eq over 27.4 meters consisting of 60.4 gpt
silver, 0.28 gpt gold and 0.4% lead plus zinc
BD- 20-037 in the 5 Senores Vein
- 1,260.81 gpt silver Eq over 1 meter consisting of 846 gpt
silver, 3.11 gpt gold and 6.15% lead plus zinc
within:
-
- 735.3 gpt silver Eq over 2.25 meters consisting of
483.8 gpt silver, 2.18 gpt gold and 2.86% lead plus zinc and 211.48
gpt silver Eq over 10 meters consisting of 128.5 gpt silver, 0.655
gpt gold and 1.13% lead plus zinc.
James McDonald, President and
CEO, states "We are very pleased the first ever drill
program conducted on Copalito has shown excellent grade potential
and continuity of vein structures. This indicates the potential for
discovery and delineation of high-grade resources is good."
Luis Moya, Chief
Geologist, comments "After receiving the geochemical
analyses of the last 7 of 40 holes it can be concluded the drilling
campaign ended successfully. The last holes establish continuity to
depth and along strike with high grade potential exhibiting values
of up to 16.95 gpt gold and 846 gpt silver."
Drilling Discussion
The drill program tested 4,153 meters along a classic Mexican
epithermal vein system. A follow up drill program will now be
designed, the details of which will be released once complete. The
follow up program will be guided by detailed structural mapping and
possibly geophysics.
The drill program also returned high-grade values from other
previously released drill holes targeting such veins as the Pilar
Vein with gold values up to 7.05 gpt and 13.55% lead plus
zinc (BDH-20-33); the Chiva Vein with silver values up to
936 gpt (BDH-20-09); and the Cobriza Vein with silver values up
to 307 gpt. The seven remaining holes, BDH-20-34 to BDH-20-40,
focused on the Pillar and 5 Senores veins located within the
southeast region of the Property.
Along with previous drill holes, good continuity and grade
potential has been shown for at least 600 meters of strike length
along the 5 Senores vein. Previously released BDH-20-04 drilled
into 5 Senores contained silver equivalent values up to 2,843 gpt.
Grade highlights from drilling ranged to 2,830 gpt silver
(BDH-20-04) and 16.95 gpt gold (BDH-20-40); see the Company's news
release dated July 22, 2020.
Detailed Drill Results – Holes BDH-20-034 to
BDH-20-040
Hole
ID
|
From
(meters)
|
To
(meters)
|
Interval
(meters)
|
Silver
(gpt)
|
Gold
(gpt)
|
Lead+
Zinc
(%)
|
Silver
Eq
(gpt)
|
Vein
|
BDH-20-034
|
No Significant
Values
|
Pilar
|
BDH-20-035
|
No Significant
Values
|
Pilar
|
BDH-20-036
|
19
|
27.55
|
8.55
|
14.8
|
0.269
|
1.365
|
72.36
|
Pilar
|
and
|
21.55
|
24.5
|
2.95
|
21.3
|
0.434
|
2.873
|
131.93
|
|
BDH-20-037
|
42.0
|
52.0
|
10.00
|
128.5
|
0.655
|
1.138
|
211.48
|
5
Senores
|
includes
|
45.75
|
48.0
|
2.25
|
483.8
|
2.187
|
2.865
|
735.30
|
|
includes
|
47.0
|
48.0
|
1.00
|
846.0
|
3.11
|
6.15
|
1,260.81
|
|
BDH-20-038
|
No Significant
Values
|
5
Senores
|
BDH-20-039
|
0
|
4.55
|
4.55
|
94.9
|
0.023
|
0.162
|
101.20
|
5
Senores
|
and
|
15.0
|
42.4
|
27.40
|
60.4
|
0.282
|
0.406
|
93.78
|
|
includes
|
19.0
|
23.0
|
4.00
|
109.6
|
0.846
|
0.265
|
183.66
|
|
includes
|
31.0
|
34.3
|
3.30
|
128.1
|
0.664
|
1.174
|
213.00
|
|
BDH-20-040
|
26.0
|
35.05
|
9.05
|
124.0
|
2.09
|
0.795
|
311.00
|
5
Senores
|
includes
|
31.0
|
33.25
|
2.25
|
335.0
|
6.65
|
2.625
|
933.38
|
|
includes
|
32.12
|
32.63
|
0.51
|
369.0
|
16.95
|
3.74
|
1,813.00
|
|
and
|
43.0
|
55.2
|
12.20
|
24.0
|
0.411
|
1.004
|
83.81
|
|
includes
|
51.1
|
51.65
|
0.55
|
93.0
|
1.07
|
4.63
|
301.09
|
|
includes
|
53.55
|
54.59
|
1.04
|
32.0
|
1.52
|
3.394
|
245.00
|
|
* Silver
equivalent based $24/oz silver $1900/oz gold, $1/lb zinc, $0.8/lb
lead
|
|
Note: Estimated
true widths range from 85 to 90% of drilled widths depending on dip
of the vein and inclination of the hole. All silver composites
rounded to the nearest whole number
|
a) Plan Map of Hole BDH-20-001 to BDH-20-40 and
b) Cross Sections for BDH-20-039/BDH-20-040 and
BDH-20-37. Click here to view larger versions of the
plan map and cross sections.
Qualified Persons
The Kootenay technical information in this news release has been
prepared in accordance with the Canadian regulatory requirements
set out in National Instrument 43-101 (Standards of Disclosure for
Mineral Projects) and reviewed and approved on behalf of Kootenay
by James McDonald, P.Geo, President,
CEO & Director for Kootenay, a Qualified Person.
Sampling and QA/QC
All technical information for the Copalito exploration program
is obtained and reported under a formal quality assurance and
quality control ("QA/QC") program. Samples are taken from core cut
in half with a diamond saw under the direction of qualified
geologists and engineers. Samples are then labeled, placed in
plastic bags, sealed and with interval and sample numbers recorded.
Samples are delivered by the Company to ALS Minerals ("ALS") in
Hermosillo, Sonora. The samples
are dried, crushed and pulverized with the pulps being sent
airfreight for analysis by ALS in North
Vancouver, B.C. Systematic assaying of standards, blanks and
duplicates is performed for precision and accuracy. Analysis for
silver, zinc, lead and copper and related trace elements was done
by ICP four acid digestion, with gold analysis by 30-gram fire
assay with an AA finish. All drilling reported is HQ core and has
been contracted to Globexplore Drilling from Hermosillo, Mexico.
Neither the 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.
About Kootenay Silver Inc.
Kootenay Silver Inc. is an exploration company actively
engaged in the discovery and development of mineral projects in the
Sierra Madre Region of Mexico and
in British Columbia, Canada.
Supported by one of the largest junior portfolios of silver assets
in Mexico, Kootenay continues to
provide its shareholders with significant leverage to silver
prices. The Company remains focused on the expansion of its current
silver resources, new discoveries and the near-term economic
development of its priority silver projects located in the states
of Sonora, Sinaloa and Chihuahua, Mexico, respectively.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS:
The information in this news release has been prepared as at
November 11, 2020. 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.
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SOURCE Kootenay Silver Inc.