VANCOUVER, BC, June 7, 2021 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") is pleased to
announce results from five additional core holes recently completed
on the 5 Señores Vein at the Copalito silver-gold project (the
"Property"), located in Sinaloa State, Mexico.
James McDonald, President and
CEO, states "The 5 Señores Vein is proving to be a well
mineralized structure with excellent potential to host significant
gold and silver resources. Drilling has now tested 600 meters of
the 1 kilometer known vein strike on surface. Ten of the
twelve holes drilled less than 100 meters from surface indicate
that mineralization remains open along strike and to depth
providing lots of room for expansion."
Highlights from Holes BDH-21-045 to BDH-21-049
include:
BDH-21-045
- 325.59 gpt silver equivalent ("Eq.") over 1.31 meter
within 126.51 gpt silver Eq. over 8.35 meters
- This hole tested the 5 Señores Vein at a depth of about 26
meters vertically below surface.
BDH-21-046
- 3,488.77 gpt silver Eq. over 0.22 meters within
306.04 gpt silver Eq over 19.43 meters
- BDH-21-046 is a test 25 meters directly below BDH-21-045.
BDH-21-047
- 114.56 gpt silver Eq. over 1.00 meter
- Parallel vein to 5 Señores Vein
- 5 Señores Vein is displaced by a fault and not
intercepted.
BDH-21-48
- 288.60 gpt silver Eq. over 2.2 meters within 12 meters
grading 96.05 gpt silver Eq.
- 5 Señores Vein of quartz, chalcedony and calcite.
BDH-21-49
- 248.07 gpt silver Eq. over 1.68 meters within 79.19 gpt
silver Eq. over 10 meters
- 5 Señores Vein.
Thus far 12 holes have tested 600 meters of strike and 175
meters of dip extent to depth with vein mineralization open along
strike and to depth. Only 2 holes have drill tested a depth greater
than 100 meters vertically from surface although topographic relief
has enabled testing to 175 meter down dip.
Click here to view 5 Señores Plan Map.
The 5 Señores vein is comprised of a mineralized structure with
two parallel veins. These veins are comprised of both silicified
breccia and classic banded quartz, quartz-calcite and calcite
veining. The polymetallic veins are hosted in a volcanic andesite
sequence with weak propylic alteration within faults and contact
with a dioritic intrusive to the southwest. The veins are mainly
quartz, with massive and crustiform textures and quartz-chalcedony
bands. Dark gray bands indicate the presence of sulfides in these
textures. Also local zones of carbonates mainly calcite can also
carry very high grades of precious metals.
Mineralization is comprised of disseminated pyrite of 1% or less
with varying amounts of sphalerite (<1 to 5%), galena (<1 to
3%) and probable acanthite.
Click to view cross sections and the 5 Señores Vein long
section.
Drill Results – Holes BDH-21-045 to BDH-21-049
Hole
ID
|
From
(meters)
|
To
(meters)
|
Interval
(meters)
|
Silver (gpt)
|
Gold
(gpt)
|
Lead+ Zinc
(%)
|
Silver Eq.
(gpt)
|
Vein
|
BDH-21-045
|
20.3
|
28.65
|
8.35
|
74.9
|
0.6
|
0.06
|
126.51
|
5 Señores
|
Include
|
20.3
|
22
|
1.70
|
43.2
|
2.563
|
0.81
|
217.87
|
Include
|
24.5
|
25.81
|
1.31
|
264.0
|
0.234
|
2.26
|
325.59
|
BDH-20-046
|
35.04
|
54.47
|
19.43
|
217.8
|
0.83
|
1.48
|
306.04
|
5 Señores
|
Include
|
46.5
|
54.47
|
7.97
|
330.4
|
1.235
|
1.96
|
456.13
|
|
46.5
|
46.72
|
0.22
|
3160.0
|
2.27
|
7.84
|
3488.77
|
|
63
|
78
|
15.00
|
61.3
|
0.752
|
0.39
|
119.27
|
Include
|
63
|
65
|
2.00
|
220.0
|
3.795
|
0.37
|
475.17
|
BDH-21-047
|
59
|
60
|
1.00
|
103.0
|
-
|
0.49
|
114.56
|
5
Señores
|
BDH-21-048
|
51
|
63
|
12.00
|
66.3
|
0.17
|
0.81
|
96.05
|
5
Señores
|
|
56.3
|
58.5
|
2.20
|
240.8
|
0.423
|
0.85
|
288.60
|
|
56.3
|
56.76
|
0.46
|
335.0
|
1.035
|
0.55
|
415.39
|
|
77.12
|
57.39
|
0.27
|
318.0
|
0.788
|
2.97
|
439.26
|
BDH-21-049
|
39
|
49
|
10.00
|
65.2
|
0.106
|
0.30
|
79.19
|
5
Señores
|
|
40.32
|
42
|
1.68
|
210.1
|
0.448
|
0.38
|
248.07
|
|
45
|
46
|
1.00
|
187.0
|
0.137
|
0.29
|
202.72
|
* Silver
equivalent based on 65:1 silver to gold ratio, $1/lb zinc, $0.8/lb
lead
|
Note: Estimated
true widths range from 50 to 70% of drilled widths depending on dip
of the vein and inclination of the hole. All silver composites
rounded to the nearest whole number
|
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.
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
June 6, 2021. 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.