Alexulf
2 years ago
Kootenay Silver Drills 5,840 gpt Silver over 2.45 meters within 34.45 meters of 540 gpt Silver Columba High-Grade Silver Project, Mexico
Kootenay Silver Inc. (TSXV: KTN) (the "Company" or "Kootenay") is pleased to announce the final batch of results from its Phase 4 drilling program at Columba High-Grade Silver Project in Chihuahua State, Mexico. Results from eleven drill holes are reported here including seven from D Vein and four holes testing B Vein.
The current diamond drill exploration program was designed to step out on mineralized veins along strike and to depth within the target-rich Columba Silver Project, the program was paused due to slow turnaround of assays. Results herein represent the balance of assays awaited. Based upon the reported Phase 4 results, Kootenay has initiated design of an expanded drill program to target high priority veins to assess the large magnitude of the mineralized system at Columba. The F, D and B Veins will be targeted with step out along strike and to depth and numerous untested high-priority areas at Columba. Nearly all drill results across the project remain open to expansion.
The results below successfully extend known mineralization along strike and beneath existing drilling at both the D Vein and B Vein targets. The new results from Columba continue to demonstrate wide intervals of significant silver mineralization in wallrock zones adjacent the target veins, a feature often seen in mineralized drill intercepts across the project.
Drill Highlights:
D Vein
CDH-22-125
34.45 meters of 540 gpt silver with 0.26 gpt gold, 0.37% lead and 1.56% zinc in a wide stockwork zone includes:
9.7 meters of 1,746 gpt silver, 0.88 gpt gold, 1.11 % lead and 5.2% zinc in D Vein with;
2.45 meters of 5,840 gpt silver, 3.0 gpt gold, 3.08% lead and 17.25% zinc, a project best intercept to date.
Extends wide high grade 90 meters directly beneath previously announced high grade intercept (CDH-21-110) with 17.8 meters of 650 gpt silver, 0.98% lead and 2.2% zinc within 29 meters of 453 gpt silver, 0.6% lead and 1.43% zinc.
Total vertical extent of D Vein mineralization now 300 meters.
CDH-22-127
0.98 meters of 788 gpt silver, 0.64% lead and 1.33% zinc.
CDH-22-128
2.0. meters of 520 gpt silver within 20 meters of 136 gpt silver.
CDH-22-131
4.86 meters of 311 gpt Silver within 150 gpt silver over 16 meters.
Extends D Vein 100 meters along strike to the southeast from previous drilling.
Marks high-level expression of mineralized system at D Vein, an interpreted high-grade horizon preserved at depth.
B Vein
CDH-22-134
Intersected broad zone of mineralization though the B Vein corridor including 1.5 meters of 251 gpt silver, 0.1% lead and 0.15% zinc
Extends B Vein to the southeast, provides a test of the upper levels of the interpreted epithermal system.
Lower grade expected as hole was drilled to confirm dips with a shallow test above expected high grade zone.
Link to D Vein (long section, drill plan) and B Vein (long section, drill plan)
Kootenay Silver’s President and CEO Mr. James McDonald stated “The intersection in hole 125 confirms D Vein as a significant structure at Columba. Drilling since 2019 has returned high grade silver hits over excellent widths from veins across the property and we are eager to further advance the project with an aggressively expanded drilling program in the near future. Having traced the vein system over an area of three-by-four kilometers and seeing continuity of high grades and widths in areas like the D Vein underscore for us the potential for 100 plus million ounces of silver”
D Vein is a northwest striking, silver-bearing epithermal style vein with associated mineralized quartz stockwork and hydrothermal breccia. The vein has been drilled over a strike length of 425 meters to a depth of roughly 340 meters, the mapped extent is around 1,300 meters. Numerous mineralized structures are noted across the property, and all remain open for extension. Kootenay is developing an expanded drilling program to prioritize and continue to expand the mineralized footprint at Columba.
Holes from D Vein reported below (CDH-22-125 to CDH-22-129, CDH-22-131 and CDH-22-135) are part of a systematic exploration program designed to test high priority veins at Columba. The high-grade intercept in CDH-22-125 is located 50 meters below the nearest drill intercept to date. The intercept in CDH-22-135, the furthest drilling to the southeast, encountered the target at a high level in the system and as such was expected to be above the high-grade zone, indicating additional high-priority targets at depth.
B Vein is a southeast striking quartz vein in the southeastern quadrant of the main Columba drilling area. Surface work has identified the B Vein structure for up to 1,700 meters and to date B Vein has been drilled over a lateral distance of 270 meters. The best intercept at B Vein to date is of 4.6 meters averaging 1,186 gpt silver from drill hole CDH-20-082.
D VEIN RESULTS
Hole ID
From (meters)
To
(meters)
Interval (meters)1
Silver (gpt)
Gold (gpt)
Pb (%)
Zn (%)
Geologic Description
CDH-22-125
183.0
184.83
1.83
158
0.06
0.20
Hydrothermal breccia
AND
269.6
304.0
34.45
540
0.26
0.37
1.56
Hydrothermal breccia, D vein and quartz stockwork
Including
283.1
292.8
9.70
1746
0.88
1.11
5.20
D Vein System
(sub interval)
283.1
289.7
6.60
2498
1.28
1.59
7.47
D Vein System
(sub interval)
286.0
288.5
2.45
5840
3.00
3.08
17.25
D Vein
CDH-22-126
230.0
244.63
14.63
135
0.08
0.18
Quartz Stockwork in rhyolite, D vein
Including
238.0
244.0
6.03
234
0.15
0.31
D Vein
(sub interval)
243.6
244.0
0.43
915
0.35
0.54
D Vein
AND
247.4
248.3
0.84
137
0.18
0.32
Quartz Stockwork in rhyolite, D vein
CDH-22-127
254.72
255.7
0.98
788
0.64
1.33
D Vein
AND
262.0
263.0
1.0
103
0.04
0.13
Quartz Stockwork in rhyolite, D vein
AND
275.0
276.0
1.0
136
0.01
0.11
Quartz Stockwork in rhyolite, D vein
CDH-22-128
245.0
265.0
20.0
136
0.09
0.22
D Vein System
Including
249.0
251.0
2.0
520
0.33
0.03
0.07
D Vein
AND
276.0
277.0
1.0
277
0.34
1.24
Quartz Stockwork in rhyolite
AND
282.0
284.0
2.0
136
0.58
1.29
Footwall vein
CDH-22-129
No
Significant
Results
D Vein
CDH-22-131
107.0
123.0
16.00
150
0.07
0.2
D Vein System
Including
116.0
120.9
4.86
311
0.17
0.38
D Vein
(sub interval)
118.0
118.6
0.59
603
0.02
0.13
D vein
CDH-22-135
104.89
108
3.11
100
156
285
D Vein
Including
106.05
106.92
0.87
234
210
180
D Vein
B VEIN RESULTS
CDH-22-130
No
Significant
Results
B Vein
CDH-22-132
No
Significant
Results
B Vein
CDH-22-133
No
Significant
Results
B Vein
CDH-22-134
233.4
240
6.6
109
349
1216
B Vein System
Including
235.5
237
1.5
251
1030
1510
B Vein System
AND
253.5
254
0.5
279
1330
2060
B Vein System
1True widths are estimated at between 65% an 85% of the downhole lengths.
A comprehensive list of drill results completed on the Columba Property since 2019 may be viewed here: Columba Drill Results.
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 Company inserts blanks, standards and duplicates at regular intervals as follows. On average a blank is inserted every 100 samples beginning at the start of sampling and again when leaving the mineral zone. Standards are inserted when entering the potential mineralized zone and in the middle of them, on average one in every 25 samples is a standard. Duplicates are taken in the mineralized zone, on average 1 to 2 duplicates for each hole.
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, Sonora, 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.
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 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. 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.
For additional information, please contact:
James McDonald, CEO and President at 403-880-6016
Ken Berry, Chairman at 604-601-5652; 1-888-601-5650
Alexulf
2 years ago
Kootenay Silver Resources Inc. Announces Private Placement Financing of up to $800,000
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Kootenay Resources Inc. (the “Company” or “Kootenay”) is pleased to announce that it intends to complete a non-brokered private placement (the “Private Placement”) for aggregate gross proceeds of up to $800,000. The Private Placement will consist of a combination of non-flow-through and flow-through common shares.
Under the Private Placement, the Company will offer, non-flow-through common shares at a price of $0.10 per share and flow-through common shares at a price of $0.15 per share, raising aggregate combined gross proceeds of up to $800,000. Proceeds received from the Private Placement will be used for the development of the Company’s Moyie Anticline Project, other resource properties (eligible for “Canadian exploration expenses, which are flow-through mining expenditures) and general working capital requirements including becoming a publicly listed company on a Canadian Stock Exchange before the end of 2022.
The securities to be issued under the Private Placement will be offered by way of private placement in each of the provinces of Canada, other than Quebec, and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.
The Private Placement is anticipated to close on August 31, 2022 (“Closing”) and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals. The common shares to be issued under the Private Placement will have a hold period of four months and one day from Closing.
In connection with the Private Placement, arms-length finders will receive a cash fee in respect to their subscribers equal to 6.0% of the gross proceeds.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
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 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
https://kootenaysilver.com/
For additional information, please contact:
James McDonald, Director at 403-880-6016
Raj Kang, Director at 604-601-5650
Alexulf
2 years ago
Kootenay Silver Option Agreement Amendment for Columba High-Grade Silver Project, Mexico
Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) announces the successful amendment to the option agreement for 100% of the Columba High-Grade silver project in Chihuahua State, Mexico. The Company has successfully amended the schedule on the final payment for the property due in November 2022. The amended agreement splits the final November 2022 payment into a series of payments due in August, November, December 2022 and January, April, and May of 2023. Payments range from US$215,000 (August 2022 and May 2023) to US$480,000 (November 2022) and US$430,000 (December 2022, January, and April 2023).
https://kootenaysilver.com/
President and CEO James McDonald states “We are very pleased with the willingness of our option holder to amend the option agreement and look forward to announcing drill results from the 2022 program.”
The company expects the first set of assay results from the 2022 drill program aimed at expanding on the numerous high-grade hits in multiple veins. Thus far drilling in the F and D veins have all hit veining as reported August 4th, 2022, with good widths seen in very large 75 to 100 meter step outs in the D Vein.
Results will be released once final assays are received and compiled. Assay turnaround time has been longer than anticipated.
A comprehensive list of drill results completed on the Columba Property since 2019 can be viewed here: Columba Drill Results.
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.
Feel Free To Share - Sharing Is Caring
Alexulf
2 years ago
Kootenay Resources Reports Survey Results on Moyie Anticline Project in British Columbia, Canada
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
For additional information, please contact:
James McDonald, Director at 403-880-6016
Raj Kang, Director at 604-601-5650
https://kootenaysilver.com/
Alexulf
2 years ago
Going Back to $25/oz Will Happen Quickly
In the past 40 years, the DXY index has measured the U.S. dollar by comparing it with competing fiat currencies. Only in 1984 and in 2000 was the DXY higher than it is today. Think about that, because the strength of the dollar is very distinctly the heaviest weight on the price of silver, along with money supply (M2) and FEDspeak.
All three point to higher silver prices, and I want to go over how this plays out.
For one, the FED saw CPI come in above 9.0% and didn't panic… we saw a 75bps rate hike and a confident Jerome Powell, not a frantic one who believes inflation is running away from him.
We saw the U.S. economy officially enter a recession, but we didn't get any new commentary from the Federal Reserve about changing course or doing something different.
We got to see most of the world's largest corporations report earnings and evolve to become more resilient businesses able to beat estimates, even as Russia's war on Ukraine has made a total mess of oil and food prices and the labor pool continues to be challenging.
Mortgage rates have spiked to multi-year highs, yet none of the funds I'm invested with have issued any cautionary notes or warning alerts.
Courtesy: Zerohedge.com
As the charts above clearly show, the bulls are NOWHERE to be found; what we do see is a complete lack of trust in both the underlying strength of the economy and the way forward.
When I was 13 years old, my father took me to Six Flags Magic Mountain and I really didn't want to do the scary rides… I was terrified.
I saw those rollercoasters pass above us at 100MPH and tried to hide how panicked I really was, so my father wouldn't laugh at my expense, but I was shaking inside.
Even worse than fleeting fear, I had to stand in line for 60-90 minutes to get on the ride, so I couldn't just make a rash decision and throw caution to the wind… it had to be a braver type of choice to keep standing in that line, building the suspense and the adrenaline rush, constantly convincing myself that everything would be alright.
Reluctantly, I kept marching forward… I shed a few tears from time to time, as my father (an adult) couldn't really relate to or empathize with my irrational fear.
Obviously, going on the rides is not only fun, but the second you get off, you want to do it again!
The panic level is the worst during the anticipation, when you create imaginary worries in your mind as to how terrifying it will be, but reality proves to be much more manageable than expected.
When you first get on the ride and it starts moving, you're sensitive to each vibration, to each acceleration and your body is stressed, especially as a little boy on the massive ride. Yet I did it, loved it and got scared all over again in the line of the next thrill.
This is how investors feel about the world right now… if you're bullish and LONG, you're biting your lips and closing your eyes, but you know that enduring the ride is the RIGHT CHOICE!
Silver is going to $25/oz and the DXY is peaking; the FED's less-hawkish behavior and the mild recession outlook are the contributors to this.
I'm just finalizing a multi-month due diligence surgical work on a silver company that I'm going to present to you SOON, and I can tell you that I'm personally extremely bullish on silver.
Best Regards,
Lior Gantz
President, WealthResearchGroup.com
basserdan
2 years ago
Kootenay Silver Announces Update on 15,000-Meter Drill Program at Columba High-Grade Silver Project, Mexico
August 4, 2022
Download PDF ( https://bit.ly/3zteU8R )
Kootenay Silver Inc. (TSXV: KTN; OTC: KOOYF) (the “Company” or “Kootenay”) is pleased to provide an update on drilling at the Columba high-grade silver project (the “Property”), located in Chihuahua State, Mexico.Significant progress has been made on the 15,000-meter drilling program announced earlier in the year, (see News Release dated May 6, 2022). A considerable proportion of assay results are outstanding, and the Company has initiated a pause, awaiting receipt of results to assist in targeting of additional step-outs.
Columba is a past producing high-grade silver underground mine and the area is known host to dozens of mineralized veins.Kootenay initiated its first drilling program in 2019 and has returned many high-grade silver intervals (for details see Columba Project).
The current program of drilling will test extensions of F Vein, D Vein, B Vein and JZ Veins as well as exploratory step-outs on other prospective veins.The 2022 program commenced with a series of drill holes targeting F Vein and D Vein. Core logging to date confirms that each hole at F and D successfully encountered its target.Pierce point locations including interval widths are shown in plan maps and long sections for F Vein and D Vein. Kootenay eagerly awaits results as additional holes may be warranted.
Current program vein intercepts from F Vein range from less than one meter to over 5 meters in drilled length in 7 holes for an average of 2 meters of drilled width. Associated stockwork veining and hydrothermal breccia zones adjacent to the F-Vein range from 6 to 30 meters in drilled length. True widths are estimated to range from 65 to 85% of drilled width.Step-outs from previous intercepts range from 50 to 75 meters, each hole successfully expanding the known size of the F Vein. Prior to this current program drilling had established 700 meters of strike along the F Vein down to a vertical depth of 200 meters and open to depth.
D Vein step-outs from previous drilling vary from 50 to 100 meters and all 11 holes from the current program intercepted the target.D Vein intervals to date range from 0.98 to 17.4 meters with an average of 6.9 meters downhole length with true widths estimated to range from 65 to 85% of downhole length. Including previous holes D Vein has been hit consistently along a strike of over 430 meters and a vertical extent of 340 meters and remains open in all directions.
Assays will be released once final assays are received and compiled. Turn around has been longer than anticipated.
See plan maps for F Vein and D Vein.
James McDonald, Kootenay’s President & CEO commented, “We are very excited to see such a high rate of drill success in hitting vein in all holes and now await receipt of the assay results.”
A comprehensive list of drill results completed on the Columba Property since 2020 can be view here: Columba Drill Results.
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 Company inserts blanks, standards and duplicates at regular intervals as follows. On average a blank is inserted every 100 samples beginning at the start of sampling and again when leaving the mineral zone. Standards are inserted when entering the potential mineralized zone and in the middle of them, on average one in every 25 samples is a standard. Duplicates are taken in the mineralized zone, on average 1 to 2 duplicates for each hole.
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, Sonora, 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.
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 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.
For additional information, please contact:
James McDonald, CEO and President at 403-880-6016
Ken Berry, Chairman at 604-601-5652; 1-888-601-5650
or visit: www.kootenaysilver.com
https://kootenaysilver.com/news/kootenay/2022/kootenay-announces-update-on-15-000-meter-drill-program-at-columba-high-grade-silver-project-mexico
Alexulf
2 years ago
Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) is pleased to provide an update on drilling at the Columba high-grade silver project (the “Property”), located in Chihuahua State, Mexico.Significant progress has been made on the 15,000-meter drilling program announced earlier in the year, (see News Release dated May 6, 2022). A considerable proportion of assay results are outstanding, and the Company has initiated a pause, awaiting receipt of results to assist in targeting of additional step-outs.
Columba is a past producing high-grade silver underground mine and the area is known host to dozens of mineralized veins.Kootenay initiated its first drilling program in 2019 and has returned many high-grade silver intervals (for details see Columba Project).
The current program of drilling will test extensions of F Vein, D Vein, B Vein and JZ Veins as well as exploratory step-outs on other prospective veins.The 2022 program commenced with a series of drill holes targeting F Vein and D Vein. Core logging to date confirms that each hole at F and D successfully encountered its target.Pierce point locations including interval widths are shown in plan maps and long sections for F Vein and D Vein. Kootenay eagerly awaits results as additional holes may be warranted.
Current program vein intercepts from F Vein range from less than one meter to over 5 meters in drilled length in 7 holes for an average of 2 meters of drilled width. Associated stockwork veining and hydrothermal breccia zones adjacent to the F-Vein range from 6 to 30 meters in drilled length. True widths are estimated to range from 65 to 85% of drilled width.Step-outs from previous intercepts range from 50 to 75 meters, each hole successfully expanding the known size of the F Vein. Prior to this current program drilling had established 700 meters of strike along the F Vein down to a vertical depth of 200 meters and open to depth.
D Vein step-outs from previous drilling vary from 50 to 100 meters and all 11 holes from the current program intercepted the target.D Vein intervals to date range from 0.98 to 17.4 meters with an average of 6.9 meters downhole length with true widths estimated to range from 65 to 85% of downhole length. Including previous holes D Vein has been hit consistently along a strike of over 430 meters and a vertical extent of 340 meters and remains open in all directions.
Assays will be released once final assays are received and compiled. Turn around has been longer than anticipated.
See plan maps for F Vein and D Vein.
James McDonald, Kootenay’s President & CEO commented, “We are very excited to see such a high rate of drill success in hitting vein in all holes and now await receipt of the assay results.”
A comprehensive list of drill results completed on the Columba Property since 2020 can be viewed here: Columba Drill Results.
basserdan
2 years ago
Aztec Minerals Becomes 100% Owner of Cervantes Property in Sonora, Mexico, Acquires 35% interest from Kootenay Silver
July 26, 2022
Vancouver, Canada – July 26, 2022 - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) (“Aztec”) and Kootenay Silver Inc. (TSXV: KTN) (“Kootenay”) are pleased to announce that, on July 22nd 2022, they entered into a Purchase and Sale Agreement (the “Agreement”) whereby Aztec will indirectly acquire Kootenay’s 35% interest in the joint venture company (“JV Corp.”) that holds the Cervantes porphyry gold-copper project in Sonora, Mexico (the “Transaction”). As consideration for the acquisition, Aztec will issue to Kootenay 10,000,000 common shares in the capital of Aztec, at a price of C$0.25 per share, and Kootenay will retain a 0.5% Net Smelter Return Royalty (“NSR”). Upon completion of the Transaction, JV Corp. will be a wholly owned subsidiary of Aztec.
The Transaction is subject to standard closing conditions including final acceptance of the Transaction by the TSX Venture Exchange. The closing of the Transaction is anticipated to occur on or about August 5, 2022.
Simon Dyakowski, CEO of Aztec, commented: “We are thrilled to announce this opportunity to consolidate a 100% interest in the Cervantes porphyry gold-copper project and welcome Kootenay Silver as a major shareholder of Aztec. We now look forward to continuing to define the open pit, heap leach gold potential of the porphyry gold oxide cap at the California Zone and evaluating the potential for deeper copper-gold porphyry sulfide mineralization underlying the oxide cap.”
James McDonald, CEO of Kootenay, commented: “We believe this agreement is a win-win deal and that the best way to move Cervantes forward is with consolidated ownership of the project. Becoming Aztec’s largest shareholder and retaining an NSR provides Kootenay Silver the upside in the project, and allows Kootenay to monetize on one of its many assets.”
About Aztec Minerals Corp. – Aztec is a mineral exploration company focused on the discovery of large polymetallic mineral deposits in the Americas. Our core asset is the prospective Cervantes porphyry gold-copper property in Sonora, Mexico. Aztec also has control of the historic, district-scale Tombstone properties host both bulk tonnage epithermal gold-silver as well as CRD silver-lead-zinc mineralization in Cochise County, Arizona. Aztec’s shares trade on the TSX-V stock exchange (symbol AZT) and on the OTCQB (symbol AZZTF).
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. 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.
For additional information:
Aztec Minerals Corp.
Simon Dyakowski
CEO
Tel: (604) 619-7469
Email: simon@aztecminerals.com
Website: www.aztecminerals.com
Kootenay Silver Inc.
James McDonald
CEO and President
Tel: (403)-880-6016
Website: www.kootenaysilver.com
https://www.kootenaysilver.com/news/kootenay/2022/aztec-minerals-becomes-100-owner-of-cervantes-property-in-sonora-mexico-acquires-35-interest-from-kootenay-silver
Alexulf
2 years ago
July 26, 2022 - Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) (“Aztec”) and Kootenay Silver Inc. (TSXV: KTN) (“Kootenay”) are pleased to announce that, on July 22nd 2022, they entered into a Purchase and Sale Agreement (the “Agreement”) whereby Aztec will indirectly acquire Kootenay’s 35% interest in the joint venture company (“JV Corp.”) that holds the Cervantes porphyry gold-copper project in Sonora, Mexico (the “Transaction”). As consideration for the acquisition, Aztec will issue to Kootenay 10,000,000 common shares in the capital of Aztec, at a price of C$0.25 per share, and Kootenay will retain a 0.5% Net Smelter Return Royalty (“NSR”). Upon completion of the Transaction, JV Corp. will be a wholly owned subsidiary of Aztec.
The Transaction is subject to standard closing conditions including final acceptance of the Transaction by the TSX Venture Exchange. The closing of the Transaction is anticipated to occur on or about August 5, 2022.
Simon Dyakowski, CEO of Aztec, commented: “We are thrilled to announce this opportunity to consolidate a 100% interest in the Cervantes porphyry gold-copper project and welcome Kootenay Silver as a major shareholder of Aztec. We now look forward to continuing to define the open pit, heap leach gold potential of the porphyry gold oxide cap at the California Zone and evaluating the potential for deeper copper-gold porphyry sulfide mineralization underlying the oxide cap.”
James McDonald, CEO of Kootenay, commented: “We believe this agreement is a win-win deal and that the best way to move Cervantes forward is with consolidated ownership of the project. Becoming Aztec’s largest shareholder and retaining an NSR provides Kootenay Silver the upside in the project, and allows Kootenay to monetize on one of its many assets.”
About Aztec Minerals Corp. – Aztec is a mineral exploration company focused on the discovery of large polymetallic mineral deposits in the Americas. Our core asset is the prospective Cervantes porphyry gold-copper property in Sonora, Mexico. Aztec also has control of the historic, district-scale Tombstone properties host both bulk tonnage epithermal gold-silver as well as CRD silver-lead-zinc mineralization in Cochise County, Arizona. Aztec’s shares trade on the TSX-V stock exchange (symbol AZT) and on the OTCQB (symbol AZZTF).
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. 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.
Alexulf
3 years ago
NEWS; Kootenay Silver (TSX-V: KTN) is pleased to announce JV operator Aztec Minerals Corp. (TSX-V: AZT) has reported the final gold and multi-element results for the Cervantes Project 2021-2022 Reverse Circulation (RC) Phase 2 drill program in Sonora, Mexico. The program involved 26 RC drill holes with a combined total of 5,249 meters that tested four targets (California, California North, Jasper, and Purisima East).
The Cervantes project is a 65/35 joint venture with Kootenay holding a 35% participating interest.
Highlights from final drill results
Results for Hole CAL22-018—a deep probe to test the large IP chargeability anomaly of the California zone, reached a total depth of 264.48 meters before caving.
It penetrated the near surface oxide gold-copper mineralization and transitioned into a higher sulfide-silica alteration zone with significantly higher molybdenum and copper values.
Visible, estimated pyrite contents increased from ~ 1% to ~3-5% avg
Copper increased from a 51 ppm avg to 578 ppm avg
This zone high in pyrite is consistent with pyrite shells associated with copper porphyry mineralization.
The multi-element ICP results show good relationships between Au, Cu, Bi, Ag and As, with prospective grades and widths of Cu and Ag supporting a potential porphyry deposit at depth.
Continued intercepts of anomalous gold mineralization in the California zone
Multi-Element ICP results received for Cervantes drill holes
Results form the California target continue to return anomalous gold mineralization.
View drill section here: California Drill Section CAL22-018
Reported lengths are apparent widths, not true widths, and the observed gold mineralization appears to be widely distributed in disseminations, fractures and veinlets within quartz-feldspar porphyry, feldspar porphyry stocks, quartzites and related hydrothermal breccias.
Click to view: California Longitudinal Section and California 2022 Drill Plan Map
Holes CAL22-018, 019, 020, and 021 intersected anomalous gold mineralization, extending the known mineralized zone at depth, and to the north, east and south of the California zone. The now completed RC Phase 2 drilling program covers an area measuring approximately 900 meters long by 250 to 500 meters wide, with demonstrated, continuous anomalous mineralization up to 265 meters depth vertically. The porphyry gold-copper mineralization is open in all directions.
Table 1. Select Multi-Element Results of Cervantes Phase 2 Drill Program
Hole No. From To Interval Gold (gpT) Copper (%) Silver(gpT)
Molybdenum PPM
m m m
CAL22-001 16.72 110.96 94.24 1.038 54.72m/0.361 72.96m/4.1 12
CAL22-002 4.6 103.36 98.76 0.374 16.72m/0.153 41.04m/1.226
CAL22-003 45.6 91.2 45.6 0.422 63.84m/0.107 53.2m/2.946
CAL22-004 0 165.68 165.68 1.002 159.6m/0.065 167.2m/1.908
CAL22-005 0 136.8 136.8 1.486 118.56m/.091 118.56m/2.661
CAL22-006 16.72 117.04 100.32 0.749 138m/0.103 165.68m/3.243
CAL22-007 83.6 147.44 63.84 0.465 107.92m/0.079 89.68m/1.429
CAL22-008 0 54.72 54.72 0.884 33.4m/0.122 30.4m/2.36
59.28m/0.096 59.28m/59.65
CAL22-009 0 86.64 86.64 0.5 74.48m/0.138 76m/2.386
CAL22-010 0 138.32 138.32 0.53 95.76m/0.224 127.7m/3.567
CAL22-011 25.84 158.08 132.24 0.427 21.52m/0.053 66.88m/2.279
65.36m/0.053 65.36m/1.502
CAL22-012 41.04 193.04 152 0.872 123.12m/0.095 165.68m/3.463
CAL22-013 139.84 147.44 7.6 0.209 54.72m/0.055 74.48m/1.489
CAL22-014 0 54.72 54.72 0.484 31.92m/.0615 27.36m/1.361
CAL22-015 4.56 72.96 68.4 0.421 30.4m/.0622 21.28m/2.779
CAL22-016 0 56.24 56.24 0.475 25.84m/.0981 12.16m/2.325
CAL22-017 28.88 53.2 24.32 0.315 31.92m/0.045 12.16m/1.475 19.8m/209.8
50.2m/0.069 10.64m/2.771 74.48m/144.57
CAL22-018 24.32 48.64 24.32 0.216 53.2m/0.078 86.65m/2.174
191.52 202.16 10.64 0.273 68.4m/0.062 28.88m/1.116 39.52m/122.46
CAL22-019 153.52 167.2 13.68 0.269 16.72./0.0803 59.28m/1.549 7.6m/126.6
CAL22-020 15.2 18.24 3.04 0.321 4.56m/1.833
CAL22-021 100.32 104.88 4.56 0.409 3.04m/.0707 3.04m/2.2
JAS22-001 10.64 19.76 9.12 0.332 69.9m/0.215 65.4m/2.723 19.76m/144.92
200.6m/0.117
PUR21-001 16.72 19.76 3.04 0.323 51.68m/0.069 83.6m/1.942
PUR21-002 22.8 31.92 9.12 0.334 31.9m/0.168 3.04m/1.8
13.68m/0.076
PUR21-003 18.2m/0.0518 3.04m/1.5
PUR22-004 25.8m/325.35
The Aztec-Kootenay JV has now completed its Phase 2 RC program of 26 holes, totaling 5,249 meters at the Cervantes Property. Drilling commenced in December 2021. The primary objectives of the 2021 – 2022 phase 2 exploration program was to better define the open pit, heap leach gold potential of the porphyry oxide cap at California, evaluate the potential for deeper copper-gold porphyry sulfide mineralization underlying the oxide cap, test for north and west extensions of the California mineralization at California North and Jasper, and assess the breccia potential of Purisima East.
Drill samples cuttings are collected every 5 feet (1.52m) from all drill holes. The samples are analyzed by Bureau Veritas for gold with a 30-gram sample size using the method FA430 followed by MA300. Over limits, when present, are analyzed by AR404 or FA550. All holes contain certified blanks, standards, and duplicates as part of the quality control program. The QA/QC review for all drilling has been completed with excellent results showing good data integrity. The samples are shipped to and received by Bureau Veritas Minerals laboratory for the gold and multielement geochemical analysis and additional gold results will be received and reported in the next several weeks. Final multielement ICP results are expected to follow the release of the preliminary gold assays and are expected to be received during the second quarter 2022.
Aztec has recently completed drill hole collar surveying, field work for Drone Photogrammetry survey created a detailed ortho-topographic base map, and Terraspec readings on the RC drill chips. Aztec is now carrying out channel sampling and geologic mapping of the new drill roads at California, California Norte and Jasper, relogged the 2017-2018 core, expand surface sampling and mapping on the property in general to continue the 2021 phase 1 surface program, and generate Leapfrog modeling of the geology, geochemistry and geophysics.
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.
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