VANCOUVER, BC, June 24, 2021 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") is pleased to
announce that it has signed a contract with TLASA OBRAS MINERAS, S.
DE R.L. DE C.V. to rehabilitate the historic underground workings
of the F Vein at the Columba Silver Project in Chihuahua
State, Mexico. Initial work will
assess the ability to gain access to the underground workings and
begin dewatering the old mine. Clearing and timbering of an adit
(entrance to an underground mine) is underway with the objective of
gaining access to the main shaft and a secondary inclined shaft to
begin dewatering and evaluating old mine workings for
James McDonald, CEO &
President, comments "Getting into the old mine workings
and being able to see the F Vein in the old adit is a very exciting
step forward for the Columba property and one more step closer to
evaluating the resource and economic potential of the property. To
the best of our knowledge this is the first time in 40 years work
within the mine has been conducted in the upper levels and likely
100 years since anyone was in the lower levels."
Access to the old working will provide valuable information on
the extent of historic mining and development, vein widths and
grades, wall rock conditions and water flows. Additionally, this
will allow for more cost-effective infill and expansion, drilling
to greater depths, and provide bulk sample for metallurgical
Detailed mapping and sampling will occur concurrently with
rehabilitation work after safe and secure access to the F Vein is
established. This mapping and sampling will aid in accurate
modeling and resource work for the F Vein.
Work is expected to take approximately 4 months to complete
barring any major obstacles. There is no historic data available to
indicate the current condition of the underground workings and if
there are any major collapses. Due to these uncertainties, every
advancement of the program will assess our ability to continue the
rehabilitation of the old mine workings.
Meanwhile drilling is ongoing on other vein systems in Columba
as part of the current 5,000-meter core drill program. To date
results for 12 holes have been released (CDH-21-086 to CDH-21-096)
for a collective 96 holes (including the 2019 and 2020 drill
programs). More results are to be released as assays are received
and interpreted by the Company.
Click here to view up to date drill results.
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 at Columba
All technical information for the Columba 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 Chihuahua. The
samples are dried, crushed and pulverized with the pulps being sent
airfreight for analysis by ALS in 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
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 prolific
mining districts in Sonora, State
and Chihuahua, State, Mexico,
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
The information in this news release has been prepared as at
June 23, 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
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.