VANCOUVER, BC, July 22, 2020 /CNW/ - Kootenay Silver
Inc. (TSXV: KTN) (the "Company" or "Kootenay") is
pleased to announce assay results from 3 new drill holes at the
Copalito silver-gold project (the "Property") in Sinaloa State,
Mexico. These are the second,
third and fourth core holes to be announced since the restart of
the 3,000 meter, 2020 drill campaign (the "Program") designed to
target high-grade silver and gold showings of the 6 principal veins
exposed at surface on the Property.
James McDonald, President and
CEO of Kootenay, stated: "Encountering high silver grades
so early in the inaugural drill program at Copalito is very
exciting. We are optimistic about the potential of both Copalito
and Columba hosting high-grade silver resources to add to our
existing silver equivalent resource base of 144 million ounces in
the measured and indicated category plus 35.7 million ounces in the
inferred category at our La Cigarra and Promontorio properties.
These projects represent a very strong portfolio of silver projects
for the Company and shareholders as we enter a higher silver price
environment."
Holes, BDH-20-002 to BDH-20-004, tested the 5 Senores Vein
located in the southern area of the Property. These holes, along
with the previously released BDH-20-001 (see KTN news release dated
June 16, 2020), show good continuity
for at least 500 meters of strike length along 5 Senores. In
addition, drilling has shown high-grade mineralization matching up
with the promising results garnered form surface sampling.
Two holes contained particularly exciting results. At a shallow
depth hole BDH-20-004 intercepted 2,830 gpt silver with
0.145 gpt gold over 1 meter within 3.2 meters
of 1,297 gpt silver and 0.285. gpt gold all within
13.1 meters of 347 gpt silver and 0.216. gpt
gold. BDH-20-002 hit 10.3 meters of 80 gpt silver
and 0.905 gold including 1.7 meters of 3.2 gpt
gold beginning at a depth of 42 meters.
Highlights form BDH-20-002 to BDH-20-004:
BDH-20-002
- 118 gpt silver and 0.346 gpt gold over 6.0 meters
includes:
- 1.69 gpt gold over 4.3 meters and 3.02 gpt gold
over 1.7 meters
BDH-20-004
- 2,830 gpt silver and 0.145 gpt gold over 1.0
meters within
- 1,297 gpt silver and 0.285 gpt gold over 3.2
meters and
- 347 gpt silver and 0.216 gpt gold over 13.1
meters within the 5 senores vein; this interval encapsulates the
first two highlights.
Hole BDH-20-005, drilled beneath BDH-20-004, hit a calcite
breccia along the vein projection and is interpreted to be fault
offset.
Detailed Drill Results from BDH-20-001 to
BDH-20-004
Hole
ID
|
From (meters)
|
To (meters)
|
Interval
(meters)
|
Silver (gpt)
|
Gold
(gpt)
|
Silver Eq.
(gpt)
|
BDH-20-001
|
8
|
64
|
56.0
|
58.0
|
-
|
58
|
including
|
29
|
51
|
22.0
|
106.0
|
-
|
106
|
including
|
29
|
32
|
3.0
|
244.0
|
1.09
|
342
|
including
|
46
|
51
|
5.0
|
250.0
|
0.247
|
272
|
BDH-20-002
|
42
|
52.25
|
10.3
|
80.0
|
0.905
|
161.5
|
Including
|
42
|
48
|
6.0
|
118.0
|
0.346
|
149.1
|
including
|
48
|
52.25
|
4.3
|
26.7
|
1.69
|
178.8
|
including
|
50.6
|
52.25
|
1.7
|
3.0
|
3.02
|
274.8
|
BDH-20-003
|
31
|
38.1
|
7.1
|
29.7
|
0.307
|
57.33
|
including
|
33
|
37
|
4.0
|
33.8
|
0.516
|
80.24
|
including
|
34
|
35
|
1.0
|
40.0
|
1.18
|
146.2
|
BDH-20-004
|
20.82
|
21.25
|
0.4
|
146.0
|
-
|
-
|
BDH-20-004
|
41
|
42
|
1.0
|
100.0
|
-
|
|
BDH-20-004
|
54
|
67.1
|
13.1
|
347.0
|
0.216
|
366.44
|
including
|
57.78
|
61
|
3.2
|
1,297.0
|
0.285
|
1,322.65
|
including
|
60
|
61
|
1.0
|
2,830.0
|
0.145
|
2,843.1
|
Note: Silver
Equivalent based on 90:1 (silver to gold ratio)
|
Mineralization occurs in both classically banded quartz veins
(+/- calcite) and silicified breccia within the vein structures
accompanied by 2 to 5% disseminated pyrite in chlorite altered wall
rocks. Sulfides in veins include pyrite, galena and sphalerite.
The strategy is to put a few holes into each of the principle
outcropping veins to establish which are most promising for hosting
high grade deposits and then test those areas with a larger follow
up program. Thus, drilling will continue to systematically move
from one outcropping vein set to another with the objective of
establishing vein geometry (strike and dip), grades and widths and
finding veins not exposed at surface. Most holes are quite shallow
in this first phase.
Results will continue to be released as assays are received and
interpreted by the Company. To date approximately 1,600-meters of
the 3,000-meter program has been completed.
Click to view plan maps 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
July 21, 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.
SOURCE Kootenay Silver Inc.