VANCOUVER, BC, Aug. 9, 2022
/CNW/ - Kootenay Resources Inc. (the "Company"
or "Kootenay") reports on the results of the
magnetotelluric (MT) survey on its Moyie Anticline Project in
southeastern B.C. as part of its program to discover a Tier One
deposit.
The program was very successful in identifying numerous deep
conductive 'feeder' zones within which are at least 29 individual
strong conductors. Seven of the strongest anomalies are of a size
and conductive strength thought to be comparable with that of a
large sulfide deposit similar to the expected magnitude of the
famous Sullivan Mine.
Figure 1a and 1b, and Figures 2a
and 2b show several high priority
anomalies, seen as low-resistivity responses extending from depth
to the near surface. The figures labeled B show the deep
conductive feeders coming from more than 20km of depth while the
figures labeled A are near-surface, individual conductive zones of
size and strength similar to those of a Sullivan-like deposit.
Figure 3 is a plan map showing the locations of the MT
anomalies.
Subject to financing, the Company plans to conduct further MT
surveying around the stronger and larger anomalies to establish 3D
imaging for drill targeting. The resulting targets will be
evaluated against Kootenay's existing database of geological and
geochemical information and ranked in order of priority based upon
features indicative of Sullivan-style mineralization. Features
considered important in the region include local stratigraphy,
structure, alteration and geochemical signature. The Company
expects to commence drill testing of high priority targets in
2023.
Background
The Moyie Anticline region of the Purcell basin has long been
considered prospective for the discovery of base metal deposits
similar in style to the world-famous Sullivan deposit, Kimberley,
BC. In the fall of 2021, Kootenay commissioned a survey
comprising, eighty-six MT stations dispersed across the Moyie
Anticline Project area and readings were taken over a period of
three to four weeks.
The survey was designed as a first-pass test of the large
prospective land package for deep-seated (greater than 5 km depth)
conductive 'feeder' zones that originate at great depths (>
10km) and continue to shallow depths or even to the surface. In
Australia this application of MT
surveying has lead to the understanding that detectable,
crustal-scale conductive feeder-like zones can host significant ore
deposits such as the super-giant polymetallic Olympic Dam
Deposit.
This method is proving increasingly useful in mineral
exploration by allowing the evaluation of large areas of
prospective ground for crustal-scale features that may indicate the
presence of hidden ore bodies. Once prospective zones are
identified, follow up work including more tightly spaced surveys
are expected to increase the resolution to allow for effective
drill targeting.
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.
About Kootenay Resources
Inc.
KSR is an exploration company actively engaged in the
exploration and discovery mineral projects in British Columbia, Canada. The Company was
formed as a spin-out of Kootenay Silver Inc. (TSXV: KTN) in which
prospective Canadian assets were transferred to Kootenay Resources
Inc. The transaction was completed in October of 2021, Kootenay
Silver Inc. currently holds ~3.2 million common shares of Kootenay
Resources Inc.
On behalf of the board of
directors of the Company:
James McDonald,
Director
No Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at
August 8, 2022. 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.
SOURCE Kootenay Resources Inc.