VANCOUVER, BC, Aug. 13, 2020 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") is pleased to
announce results from an additional 4 holes from its 7,000 meter
drill program, at the Columba high-grade silver project (the
"Property") located in Chihuahua State, Mexico.
Among the 4 holes reported in the release, CDH-20-057 to
CDH-20-059 tested along the F-Vein. Hole CDH-20-60
intercepted the J and Z Vein system and encountered a well
mineralized breccia and quartz vein stockwork zone located
approximately 700 meters east from the F-Vein.
Highlights from J and Z Vein system include:
CDH-20-060
- 132 gpt silver over 64 meters including two notable
intervals:
- 1,025 gpt silver over 1.0 meters within 226 gpt
silver over 9.0 meters.
- 361 gpt silver over 11 meters including 608 gpt
silver over 5.0 meters, and 1,160 gpt silver over 1.0
meters all within 229 gpt silver over 22
meters.
Hole CDH-20-060 is about 40 meters deeper and 20 meters along
strike from previously announced hole CDH-19-030 (see news release
dated December 12, 2019). This Phase
I drill hole hosted the following high-grade mineralization:
CDH-19-030
- 200 gpt silver over 25.85 meters which included;
-
- 415 gpt silver over 11.15 meters, including
- 982 gpt silver over 1.9 meters within 721 gpt
silver over 4.07 meters.
The silver mineralization in the J and Z Vein system is related
to silicified breccias and thin quartz vein stock works following
classic banded quartz vein structures more characteristic of the
F-Vein.
Kootenay President & CEO, James McDonald,
stated "This area of the J and Z Vein has become very exciting
and prospective following this second considerable intercept of
high silver grades. Finding silver hosted in breccias and stock
works in this area indicates the potential to discover large
mineralized zones along shorter strike lengths than typically seen
in the veins themselves."
The geometry of the relatively untested J and Z Vein system is
not known at this time. More holes are needed to determine the
geometry (strike and dip), extent of continuity and size of the
zone.
Detailed Drill Results
Hole
ID
|
From
(meters)
|
To
(meters)
|
Interval
(meters)
|
Silver
(gpt)
|
Pb
(%)
|
Zn
(%)
|
Geologic
Intersection
|
CDH-20-060
|
144
|
208
|
64
|
132
|
0.03
|
0.1
|
J-Z Vein
|
Includes
|
147
|
156
|
9
|
226
|
0.03
|
0.13
|
Includes
|
152
|
153
|
1
|
1025
|
0.08
|
0.21
|
Includes
|
183
|
205
|
22
|
229
|
0.05
|
0.14
|
Includes
|
190
|
201
|
11
|
361
|
0.08
|
0.18
|
Includes
|
191
|
196
|
5
|
608
|
0.09
|
0.12
|
Includes
|
191
|
192
|
1
|
447
|
0.034
|
0.096
|
Includes
|
192
|
193
|
1
|
342
|
0.056
|
0.081
|
Includes
|
193
|
194
|
1
|
1160
|
0.1
|
0.128
|
Includes
|
194
|
195
|
1
|
776
|
0.175
|
0.223
|
Includes
|
195
|
196
|
1
|
315
|
0.093
|
0.101
|
CDH-20-057
|
275.91
|
280.47
|
4.56
|
103
|
0.12
|
0.19
|
F Vein
|
Includes
|
275.91
|
280.47
|
1.81
|
163
|
0.26
|
0.32
|
And
|
166
|
226.84
|
60.84
|
40
|
0.03
|
0.1
|
Hole 60 is
reporting the drilled length of mineralization because there is not
sufficient data to understand the geometry to estimate a true
width. Hole 57 is reported as drilled length of mineralization. The
true width is estimated at about 81% of the drilled width or about
3.74 meters.
|
F Vein Results
CDH-20-57 is one of the deeper intercepts
along the F-Vein hitting 4.56 meters of quartz vein grading 103gpt
silver including. 1.81 meters of 163 gpt silver at a depth of 208
meters from surface. The nearest hole CDH-20-051 is located
approximately 57 meters up dip and 60 meters along strike.
CDH-20-051 hit 317 gpt silver over 4.36 meter including 769 gpt
silver over 1.1 meters in the F Vein and 865 gpt silver over 2
meters in a hanging-wall structure (see news release dated
May 26, 2020).
CDH-20-058 hit an old mine working at target
depth.
CDH-20-059 hit 4.1 meters of F-Vein at the
northwestern most extent of the drill tested area. The F Vein at
this location was occupied by massive calcite which did not carry
any significant results.
Click to view the plan map, long section, and cross
sections.
Sufficient drilling has been conducted along the F-Vein to
establish good continuity for about 700 meters of strike to depths
of 230 meters. Drilling is currently focused on the veins not yet
tested and will follow up on intercepts encountered in various
other veins during the 2019, Phase I drill campaign.
Drilling is ongoing and more results will be released once holes
are completed and assays are received, compiled, and
interpreted.
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 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
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 prolific mining
districts in Sonora, State and
Chihuahua, State, Mexico,
respectively.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS:
The information in this news release has been prepared as at
August 12, 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.