VANCOUVER, BC, March 25, 2021 /CNW/ - Kootenay Silver
Inc. (TSXV: KTN) (the "Company" or "Kootenay") is
pleased to announce that a 3,500-meter core drilling program (the
"Program") has commenced at the Copalito gold and silver project
(the "Property"), located in Sinaloa State, Mexico.
The Program will follow up the results of 40 shallow drill-holes
totaling 4,153 meters completed in 2020, confirming gold and silver
mineralization in several areas of the Property. Drilling
will be guided by detailed structural mapping to test veins such as
5 Senores located in the southern area where good continuity and
grade potential has been shown for at least 600 meters of strike
length.
Drill results from 5 Senores are highlighted by several
high-grade intercepts that ranged to 2,830 gpt silver
(BDH-20-04) and 16.95 gpt gold (BDH-20-40). Further
highlights from drilling completed on other veins at Copalito
include the Pilar Vein with gold values of up to 7.05 gpt
and 13.55% lead plus zinc (BDH-20-33); the Chiva Vein with
silver values of up to 936 gpt (BDH-20-09); and the Cobriza
Vein with silver values of up to 307 gpt.
2020 drill highlights of significant high-grade mineralization
intersected at Copalito, include:
- BDH-20-001: 369 gpt silver equivalent ("AgEq.");
250 gpt silver and 0.247 gpt gold over 5.0 meters; 272 gpt AgEq.;
360 gpt silver and 0.1 gpt gold over 1.0 meter within
- BDH-20-002: 179 gpt AgEq.; 1.69 gpt gold over 4.3
meters and 274.8 gpt AgEq.; 3.02 gpt gold over 1.7 meters
- BDH-20-004: 1,323 AgEq.; 1,297 gpt silver and
0.285 gpt gold over 3.2 meters
- BDH-20-009: 1,047 gpt AgEq.; 936 gpt silver, 0.29
gpt gold and 3.31% lead+zinc ("Pb+Zn") over 1.0 meter
- BDH-20-015: 394 gpt AgEq.; 51 gpt silver, 2.28
gpt gold, 6.18 % Pb+Zn over 1.2 meters
- BDH-20-033: 1,210 gpt AgEq.; 59 gpt silver, 7.05
gpt gold, 13.55 % Pb+Zn over 0.2 meters
- BDH-20-037: 1,261 gpt silver AgEq. over 1.0 meter
consisting of 846 gpt silver, 3.11 gpt gold and 6.15% lead plus
zinc; 5 senores vein
- BDH-20-040: 933 gpt AgEq. over 2.25 meters
consisting of 6.65 gpt gold, 335 gpt silver 1,813 gpt AgEq. over
0.51 meters consisting of 16.95 gpt gold, 369 gpt silver and 3.74%
Pb+Zn including:
-
- 1,813 gpt AgEq. over 0.51 meters consisting of 16.95 gpt
gold, 369 gpt silver and 3.74% lead plus zinc 5 Senores vein (one
of the deepest holes drilled to date)
Complete drill results for Copalito can be found on our
company website. AgEq. calculated above are based on $24/oz silver, $1900/oz gold, $1/lb zinc, $0.8/lb
lead. Estimated true widths range from 65 to 90% of drilled widths
depending on dip of the vein and inclination of the hole. All AgEq.
and silver composites rounded to the nearest whole
number. See news releases dated July 22 2020, October 27,
2020 and November 12, 2020 for
further detail.
James McDonald, CEO and President
Stated: "This program is aimed at establishing if we have
continuity and size in zones already identified and to test those
areas, we did not test in 2020. We are excited to get going again
and are looking forward to the results of the drill program."
The Company has contracted GlobeXplore, S.A. de C.V. of
Hermosillo, Sonora, Mexico to
conduct the HQ core drilling at Copalito. Results of the
drill program will be announced as soon as the assays are received
and interpreted by the Company.
About the Copalito Property
The Copalito Project is a classic low sulphidation epithermal
vein system which has numerous small old workings and no evidence
or reports of historic exploration drilling. The Property consists
of seven concessions totaling approximately 3,700 hectares and is
located 35 kilometers east of McEwen Mining's "El Gallo Mine"
complex in Sinaloa State, along the western fringes of the Sierra
Madre Occidental in northwestern Mexico. The Copalito Project has good access,
topography and infrastructure.
Copalito Geology
Mineralization is hosted within classic low sulfidation
epithermal quartz and rare calcite veins. Multiple mineral events
are evidenced by banded mineralized textures, multiple cross
cutting veins/veinlets, laminated banding of chalcedonic and
crystalline quartz, sulfide replacement and infillings of breccia
matrix. Sulfide content is generally low but does range to 20% or
more in hand samples. Sulfides and their oxide equivalents include
fine grained pyrite, black and yellow sphalerite, galena,
chalcopyrite and silver sulphosalts. Some zonation is becoming
apparent with veins in the northeast being higher in gold and base
metals and those in the south being high in silver and low in base
metals.
Sampling and QA/QC at Copalito
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.
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.
Qualified Persons
The Kootenay scientific and 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 Kootenay by James
McDonald, P.Geo, President, CEO & Director for Kootenay,
a Qualified Person.
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 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 two of its priority silver projects located in
prolific mining districts in Sonora, State and Chihuahua, State,
Mexico, respectively.
On Behalf of the Board of Directors of
KOOTENAY SILVER INC.
"James McDonald"
President & CEO
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.
CAUTIONARY NOTES:
The sampling results disclosed in this news release are not
necessarily indicative and drilling is required to confirm a
mineral deposit.
The information in this news release has been prepared as at
March 24, 2021. This news
release contains "forward-looking information" within the meaning
of Canadian securities legislation and "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 (collectively,
"forward-looking statements"). All statements, other
than statements of historical fact, that address activities, events
or developments that Kootenay Silver Inc. ("Kootenay" or the
"Company") believes, expects or anticipates will or may
occur in the future including, without limitation, the anticipated
exploration program results from exploration activities, the
discovery and delineation of mineral deposits and sampling results
from the Columba Project and other properties, the anticipated
content, commencement, and cost of exploration programs in respect
of the Company's projects and mineral properties, the anticipated
business plans and timing of future activities of the Company,
future capital expenditures (including the amount and nature
thereof), business strategies and measures to implement strategies,
competitive strengths, goals, expansion and growth of the business
and operations, plans and references to the future success of the
Company, and such other matters, are forward–looking
statements. These forward-looking statements reflect the
current expectations or beliefs of the Company based on information
currently available to Kootenay and often use words such as
"expects", "plans", "anticipates", "estimates", "believes",
"intends", "potential", "may" or variations thereof or the negative
of any of these terms.
Forward-looking statements are subject to a number of risks
and uncertainties that may cause the actual results of the Company
to differ materially from those discussed in the forward-looking
statements and, even if such actual results are realized or
substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on, Kootenay. Factors
that could cause actual results or events to differ materially from
current expectations include, among other things: the ability of
the Company to obtain sufficient financing to fund its business
activities and plans, operating and technical difficulties in
connection with mineral exploration and development and mine
development activities for Company's projects generally, actual
results of exploration activities (including the estimation or
realization of mineral reserves and mineral resources), the timing
and amount of estimated future production, costs of production,
capital expenditures, the costs and timing of the development of
new deposits, the availability of a sufficient supply of water and
other materials, requirements for additional capital, future prices
of gold and silver, changes in general economic conditions, changes
in the financial markets and in the demand and market price for
commodities, possible variations in ore grade or recovery rates,
possible failures of plants, equipment or processes to operate as
anticipated, accidents, labour disputes and other risks of the
mining industry, delays in obtaining governmental and regulatory
approvals (including of the TSX Venture Exchange), permits or
financing or in the completion of development or construction
activities, changes in laws, regulations and policies affecting
mining operations, hedging practices, currency fluctuations, title
disputes or claims limitations on insurance coverage and the timing
and possible outcome of pending litigation, environmental issues
and liabilities, risks related to joint venture operations, and
risks related to the integration of acquisitions, as well as those
factors discussed under "Risk Factors" in the Company's most recent
annual management's discussion and analysis and other filings of
the Company with the Canadian Securities Administrators, copies of
which can be found under the Company's profile on the SEDAR website
at www.sedar.com.
Any forward-looking statement speaks only as of the date on
which it was made, and except as may be required by applicable
securities laws, Kootenay disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new
information, future events or results or otherwise. Although
Kootenay believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to their
inherent uncertainty. There can be no assurance that
forward-looking statements will prove to be accurate, and actual
results and future events could differ materially from those
anticipated in such statements.
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.
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SOURCE Kootenay Silver Inc.