Highlights Include 699 gpt Silver over 2.1 Meters and 755 gpt Silver over 1.75 Meters
Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) is pleased to announce drill results from three core holes on the F Vein and five on the I Vein completed at the Columba high-grade silver project (the “Property”) in Chihuahua State, Mexico.
Kootenay President and CEO James McDonald states, “We continue to be pleased with the drill results at Columba. Step-out drill hole 19-012 intercepted 699 gpt silver over 2.1 meters and 755 gpt silver over 1.75 meters at a depth deeper than any previously known mineralization. In addition, drilling continues to hit multiple high-grade silver intercepts above and below known historic silver veins and to demonstrate excellent lateral and vertical extent along the F vein.”
- 755 gpt silver and 1.16 gpt gold over 1.75 meters F vein
- 699 gpt silver over 2.1 meters in new hanging wall vein to F Vein
- 894 gpt silver over 0.42 meters in new hanging wall vein to I Vein
- 1,005 gpt silver over 0.3 meters before entering old mine workings on I Vein
- 184 gpt silver and 0.21 gpt gold over 11 meters in hanging wall stock work above F Vein
- As many as five different veins intercepted by a single drill hole (CDH 19-014)
Click the following links to view: Plan Map, Long Section of the F Vein, Cross Section for holes CDH-19-011 and 19-012 and Cross Section for holes CDH-19-013 and 19-014
Detailed Drill Results:
All widths are drilled widths. At this time, it is estimated true widths will range from 60 to 80% of drilled widths depending on dip of the vein and inclination of the hole. All silver composites rounded to the nearest whole number.
Expanded Drilling Discussion with Highlights:
- F Vein: 648 gpt silver and 0.64 gpt gold over 1.0 meter within 245 gpt silver over 5.0 meters and 133 gpt silver over 11 meters
- Two separate footwall veins intercepted: 228 gpt over 1.2 meters and 102 gpt over 1.87 meters
- Increases the mineral strike length of the F vein approximately 100 meters to the southeast.
- Three separate hanging wall veins: 699 gpt over 2.1 meters, 113 gpt silver over 1.35 meters, and 113 gpt silver over 0.6 meters
- F Vein: 755 gpt silver and 1.16 gpt gold over 1.75 meters within 476 gpt silver and 0.66 gpt gold over 3.15 meters and 184 gpt silver and 0.21 gpt gold over 11.0 meters
- Footwall Vein: 111 gpt silver over 2.0 meters
- Extends mineralization approximately 100 meters downdip from hole CDH 19-011.
- Hanging Wall Stock work veining: 45 gpt silver over 18.85 meters
- I Vein: 273 gpt silver over 4.15 meters includes 697 gpt silver over 0.65 meters and 328 gpt silver over 2.65 meters.
- Four separate hanging wall veins intercepted: 155 gpt silver over 0.51 meters; 894 gpt silver over 0.42 metres, 115 gpt silver over 0.73 meters and 262 gpt silver over 1.25 meters
- I Vein: 261 gpt silver over 5.01 meters.
- F Vein: 283 gpt silver over 0.56 meters
- Hanging Wall Vein: 26 gpt silver over 4.17 meters
- I Vein: 1,005 gpt silver over 0.30 meters and then mined stope.
- I Vein and Hanging Wall Stock work: 71 gpt silver over 13.4 meters including 146 gpt silver over 5.4 meters and 212 gpt silver over 2.48 meters followed by open mine workings.
- Hanging Wall Vein Stock work: 32 gpt silver over 54 meters
- I Vein: 357 gpt silver over 0.54 meters
- Two separate footwall veins intercepted: 237 gpt silver over 0.71 metres and 150 gpt silver over 0.66 metres.
Holes CDH 19-011 and 12 show very good grades and widths away from historic workings and may indicate a southeast plunge to high grades in the silver zone in the F vein. Grades ranged to 755 gpt silver and 1.16 gpt gold over 1.75 meters in CDH 19-012, which is 230 meters vertically from surface. CDH 19-015 is located about 150 meters to the west and was drilled to a depth of 250 meters and intersected a narrow medium grade, which also supports a southeast plunge direction to the high-grade.
Holes CDH 19-013, 14, and 16 to 18 were drilled in the I vein which has some limited historic work. All holes hit significant silver mineralization in both the I vein and several different hanging-wall veins within a broader zone of stock work mineralization.
Stock works of thinner veinlets are seen above (hanging wall) both the F and I veins and can show significant widths of low to moderate grade such as 184 gpt silver over 11 meters. This indicates potential for developing wider zones and ounces more quickly when combined with the high-grade intervals.
Drilling continues at the Property with a total of 24 holes completed to date and the program being expanded from 3000 meters to approximately 4500 meters. It is anticipated that a total of 35 to 40 holes will be completed by early November with assay results continuing into December.
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 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.
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
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at September 24, 2019. 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.
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