Exploration Update on Espiritu, El Cuervo, Suzanne & Ofelia
July 08 2008 - 12:13PM
Marketwired
VANCOUVER, BC and Kootenay Gold Inc. ("Kootenay") (TSX-V: KTN)
are pleased to report an exploration update on the generative
properties optioned from Kootenay Gold to Klondike Silver in the
state of Sonora, Mexico.
All areas are in early stages of modern discovery and in all
cases there are evidences of old artisan workings.
ESPIRITU
The Espiritu prospect is represented by a polymetallic Au, Ag,
Cu, Pb & Zn mineralization that is traceable for up to 4 km in
length to 500m in width. The mineral system is related to a NE
trending structural zone hosting stockworks, veins and breccias
mineralized with secondary metallic oxides, galena, sphalerite,
chalcopyrite and sulphosalts.
Mineralization is hosted in argillic, sericitic, silica and
biotite alteration zones and appears to be associated with at least
two porphyry systems. Metals values are anomalous to highly
anomalous over the whole length of the system and include gold (to
3720 ppb), silver (to 1231 ppm) and numerous locations of copper,
lead and zinc with values greater than 1%.
A total of 55 grab samples have been collected ranging from
background to the above noted highs.
EL CUERVO
This prospect contains both skarn and epithermal low
sulphidation mineralization. The mineralization is related to
granitic rocks intruding a massive limestone unit located at and
along a major basin and range front fault. The skarn has been
traced for in excess of 2 km strike length and in excess of 500 m
wide along the contact of the granitic rock and the limestone. The
skarn is a complex array of magnetite, hematite, garnet, pyroxene,
actinolite, chlorite, epidote and ilvaite. The skarn is
polymetallic with anomalous Au, Ag, Cu, Pb, Zn, Mo & W. Values
range to Au (2550 ppb), Ag (237 ppm), Cu (2.9%), Pb (1.8%), Zn
(10.9%), Mo (12500ppm) & W (2100ppm). The skarn is strongly
zoned with strongest mineralization in the eastern parts.
The epithermal, low sulphidation zone is hosted in Tertiary
rhyolites to the immediate west of the skarn and appears to
represent a high level stage of mineralization related to the down
drop margin of the basin and range front fault. Au values to 800
ppb (0.8 gr/ton) have been noted.
A total of 122 grab samples have been taken at El Cuervo with
values ranging from background to the above noted highs.
SUZANNE
The Suzanne is represented by a polymetallic Au/Ag/Pb/Zn sheeted
vein system related to major ENE faulting. The veins and associated
stockwork are traceable for in excess of 1 km and range up to 5 m
in width. Metal values for the veins and stockworks range to Au
(695 ppb), Ag (665 ppm), Pb (6.4%), Zn (10.7%). Exploration
peripheral to the vein revealed the probable presence of further
veins with the discovery of proximal float with 506 ppb Au and 665
ppm Ag, 500 metres south from the main discovery veins.
63 grab samples were taken ranging from background to the above
noted highs.
OFELIA
The Ofelia prospect is a low sulphidation epithermal quartz
vein/stockworks system. Preliminary exploration has shown the
system to contain gold values 5.7 gr/ton and silver values to 469
ppm, with little or no accompanying other metals or pyrite. The
Ofelia system is hosted within a 5 km by 3 km alteration zone, most
of which has not been explored. The mineralization appears to be
immediately peripheral to the alteration system.
41 grab samples have been taken ranging from background to the
above noted highs.
All values reported are from prospector grab samples and all
were analyzed by IPL Laboratories in Richmond, B.C., Canada using
multi acid digestion agua regia with ICP and a fire assay AA finish
for gold and a fire assay gravimetric finish for gold and silver
over 1000 ppb and 100 ppm respectively.
The foregoing geological disclosure has been reviewed and
verified by Kootenay's CEO, James McDonald, P.Geo. (a qualified
person for the purpose of National Instrument 43-101, Standards of
Disclosure for Mineral Projects). Mr. McDonald is a director of the
Company.
About Klondike Silver
Klondike Silver Corp. has assembled a quality portfolio of
silver and silver-rich polymetallic properties in historic mineral
districts of North America, and is applying advanced exploration
technologies to add value to these core assets.
The Company holds more than 10,000 hectares of claims and crown
grants in the "Silvery Slocan" district, including numerous
past-producing mines and a fully permitted and operating 100 tons
per day mill near the historic mining town of Sandon, B.C.
Klondike Silver is reviving the historic Gowganda and Elk Lake
silver camps in Ontario, and is exploring silver-rich polymetallic
targets in the world-famous Klondike district of Yukon Territory.
The Company has also recently optioned eight high-potential mineral
concessions in under-explored historic mineral districts of
Mexico.
Klondike Silver is a member of the Hughes Exploration Group of
Companies and is led by a team with a stellar track record of
discovery and development in Canada.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this news release.
Distributed by Filing Services Canada and retransmitted by
Marketwire
CONTACT INFORMATION Corporate Inquiries: Kevin Hull or Alan
Campbell (604)-685-2222 Email: Email Contact Or visit Klondike
Silver's web-site: www.klondikesilver.com to see Smartstox
interviews with Company Chairman and President. AGORACOM Investor
Relations Email: Email Contact Website:
http://www.agoracom.com/ir/KlondikeSilver #711-675 West Hastings
Street Vancouver, B.C. Canada V6B 1N2 Telephone: 604-685-2222 Fax:
604-685-3764 www.klondikesilver.com
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