Kootenay announces continued high-grade results from 2016 drill program on La Negra operated by Pan American Silver RESULTS INCLUDE 529 GPT SILVER OVER 7.5 METERS WITHIN 194 GPT SILVER OVER 40.8 METERS
Kootenay announces continued high-grade results from 2016 drill program on La Negra operated by Pan American Silver
RESULTS INCLUDE 529 GPT SILVER OVER 7.5 METERS WITHIN 194 GPT SILVER OVER 40.8 METERS
VANCOUVER
,
April 3, 2017
/CNW/ -
Kootenay Silver Inc. (TSXV: KTN) (the "Company" or "Kootenay")
is pleased to announce drilling has returned more
high-grade silver intercepts from the remaining 6 holes of the 2016 drill program conducted and operated by Pan American Silver Corp.
("Pan American Silver")
on its La Negra silver discovery within the Promontorio project located in
Sonora, Mexico
. The definition drill program on La Negra is part of an option agreement
between Kootenay and Pan American Silver that provides Kootenay with a series of work and cash commitments and a carried to production interest on
Promontorio. Of the 6 drill holes reported in this release four were drilled into the La Negra Breccia with 2 into a target south of the breccia. Pan American Silver is
scheduled to recommence drilling in late June-early
July 2017
.
Kootenay President and CEO
James McDonald
states
, "We are very pleased with results from the final holes of our 2016 drilling program on La Negra with
Pan American Silver. The consistent confirmation of multiple zones of high-grade silver mineralization within a 600-meter strike length of the breccia, remaining
open at depth, supports further work on the Promontorio/La Negra project. Upcoming exploration and drilling by Pan American Silver will focus on defining the
potential size of the magmatic hydrothermal silver-lead breccia and testing additional targets."
Drill highlights include:
LN-67-16
returning 121 gpt silver over 47.1 meters including 582 gpt silver over 2.55 meters
LN-68-16
returning 194 gpt silver over 40.85 meters including 529 gpt silver over 7.5 meters and 90 gpt silver over 10.65 meters including 137 gpt silver over
5.55 meters
LN-69-16
returning 98 gpt silver over 59.25 meters including 378 gpt silver over 3.65 meters
Click to view:
Drill plan and cross sections
.
A summary of the infill drilling within the mineralized zone is provided in the table below.
Drill hole
From
To
Interval
Silver
gpt
Gold
gpt
Copper
ppm
Lead
ppm
Zinc
ppm
Breccia
LN-67-16
26.2
73.3
47.1
121
0.11
189
2630
59
LN Bx Principal
Incl.
37.3
50.35
13.05
216
0.18
93
1411
58
LN Bx Principal
incl.
37.3
38.8
1.5
458
0.39
91
1032
86
LN Bx Principal
Incl.
47.8
50.35
2.55
582
0.14
47
2113
31
LN Bx Principal
incl.
49.3
50.35
1.05
973
0.19
65
3012
34
LN Bx Principal
LN-68-16
1
41.85
40.85
194
0.06
172
4070
299
LN Bx Principal
Incl.
2.4
14.05
11.65
441
0.08
367
10318
426
LN Bx Principal
incl.
6.55
14.05
7.5
529
0.09
298
7446
312
LN Bx Principal
Incl.
6.55
8.05
1.5
784
0.08
384
19400
377
LN Bx Principal
incl.
12.55
14.05
1.5
1613
0.24
553
3765
290
LN Bx Principal
Incl.
28.7
30.2
1.5
772
0.12
106
1872
226
LN Bx Principal
91.5
102.15
10.65
90
0.09
421
8822
34
LN Bx Principal
Incl.
96.05
101.6
5.55
137
0.11
666
12645
35
LN Bx Principal
LN-69-16
5.1
64.35
59.25
98
0.04
71
1759
100
LN Bx Principal
Incl.
5.1
6.6
1.5
514
0.08
76
4950
79
LN Bx Principal
incl.
35.7
49.4
13.7
189
0.08
63
1506
65
LN Bx Principal
Incl.
45.75
49.4
3.65
378
0.13
88
2529
33
LN Bx Principal
incl.
48.1
49.4
1.3
602
0.18
112
2378
26
LN Bx Principal
LN-70-16
119.75
120.45
0.7
85
0.64
244
37300
729
LN Bx Principal
136.05
137.25
1.2
121
0.03
241
880
874
LN Bx Principal
254.7
256.25
1.55
68
0.02
193
132
112
LN Bx Inferior
Drill holes LN 71 and LN 72 drilled a target a few hundred meters south of the La Negra Breccia returned no significant results.
Pan American Silver 2016 Program
Pan American Silver began managing the exploration program in
April 2016
and commenced re-logging drill core, geological mapping and re-interpretation, and
completed 62 km of magnetic ground surveys. Pan American Silver initiated a 3,500-meter drilling program in
July 2016
with the objective of infilling the Kootenay
operated La Negra drill program with coverage to 50 meter centres and testing the along-strike and down dip extents, as well as following up on geophysical and
geological anomalies located elsewhere within the Promontorio concessions.
Pan American Silver reported that a series of deeper infill drill holes from the first 12 holes of the 2016 program confirmed high-grade results from previous drilling
conducted by Kootenay on La Negra (See Kootenay News release
October 25, 2016
) as well as the presence of a second breccia zone further to the south,
which currently remains open at depth. Based on the initial success Pan American Silver extended the drill program by an additional 2000 meters.
Drilling on the subsequent 13 holes of the program returned consistent high-grade silver results at depth. (See Kootenay News release
February 15, 2017
). The
latest 4 holes mark the completion of the 2016 drill program on La Negra with an approximate total of 6800 meters of drilling and in 31 holes.
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 on behalf 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 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 two of its priority silver projects located in prolific mining districts in
Sonora
, State and Chihuahua, State,
Mexico
, respectively.
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.
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
April 2, 2017
. 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.
To view the original version on PR Newswire, visit: http://www.newswire.ca/en/releases/archive/April2017/03/c6377.html
%SEDAR: 00016508E
For further information:
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
CO: Kootenay Silver Inc.
CNW 08:00e 03-APR-17