Kootenay Announces Drill Results Confirming Shallow, High Grade Silver Mineralization on Columba Silver Project, Mexico Highlights Include 2.0 Meters of 517.87 gpt Silver with 1.0 Meter of 775 gpt Silver
Kootenay Announces Drill Results Confirming
Shallow, High Grade Silver Mineralization on
Columba Silver Project, Mexico
Highlights Include 2.0 Meters of 517.87 gpt Silver with 1.0 Meter of 775 gpt Silver
VANCOUVER
,
Aug. 12, 2019
/CNW/ -
Kootenay
Silver Inc. (TSXV: KTN) (the "Company" or
"Kootenay")
is pleased to announce assay results of the Company's first six holes drilled on the
Columba high-grade silver vein system in Chihuahua State, Mexico. Drilling is ongoing with 11 holes
completed to date of a planned first phase 25 to 30-hole program.
Kootenay President and CEO
James McDonald
states, "We are off to a successful start with
our first six holes drilled at Columba verifying the F Vein is where expected and carrying
high grade silver mineralization as high as 775 gpt silver. Drilling and detailed surface
mapping confirms our belief the system is large and strong giving us added confidence in
the chances of discovering a high-grade silver deposit."
Drilling Discussion and Highlights:
The first dozen holes of the program are targeting the F vein, which was briefly mined during the
1910 era and again in the late 1950's to early 1960's. Drilling is being carried out by Kootenay to
verify vein widths, grades and location. Results thus far have confirmed good widths of quartz,
quartz-calcite vein and vein breccia and stockwork have been encountered in 5 of 6 holes with some
holes hitting unexpected hanging wall veining. Drilled widths are excellent and vary from 4.8 to 16.5
meters on the F vein and from 1.17 to 1.5 meters on previously unknown hanging wall veins in two of
the holes reported here (CDH 19-002 and 006).
Holes CDH-001 to 003 were drilled peripheral to a 90-meter deep shaft, an area which was mined in
the 1910 era. The holes are shallow and intercepted grades comparable to historical samples
reported in nearby tunnels and old stopes. To view drill hole location click on following links to a
plan map
and
longitudinal map
.
CDH 19-001
:
390 gpt silver over 1 meter within a much wider 16.5 meters of 93 gpt silver including 9.42
meters of 140. 68 gpt silver.
The higher-grade interval is consistent with grades and widths reported in historic data at these
shallow depths and is very encouraging regarding the high-grade potential.
CDH 19-002
:
332 gpt silver and 0.554 gpt gold over 0.73 meters and 328 gpt silver over 1 meters both within
a much wider 14 meters of 104 gpt silver and 3.73 meters of 213 gpt silver with 0.311 gpt gold.
Hole 002 also hit an unknown hanging wall vein grading 111 gpt silver over 1.17 meters
indicating potential for blind discoveries in addition to the numerous veins exposed at surface.
CDH 19-003
:
Hit a faulted section of vein and returned 85 gpt silver over 5 meters with a high of 147 gpt silver
over 1 meter.
CDH 19-004
: hit a fault zone and missed the vein due to probable displacement on the fault.
Holes CDH-005 and 006 were drilled west of the deeper 200-meter-deep shaft around old mine
workings developed in the early 1900's and mined then and in the late 1950's to early 1960's. These
holes and old mine workings are also on the F vein.
CDH 19-005
:
775 gpt silver over 1.15 meters within 2 meters of 518 gpt silver and 230 gpt silver over 4.83
meters.
These results confirm high grades in the system that are in line with historically reported
numbers.
CDH 19 006
:
287 gpt silver over 1.45 meters within 133 gpt silver over 10.45 meters before entering into a
mine stope over 3 meters wide; presumably where historic mining removed the high grades,
historically reported in the F vein.
Hole 006 also hit two hanging wall veins with 235 gpt silver over 1.5 meters and 267 gpt silver
over 0.87 meters, which again indicate potential for blind discoveries during the program. More
drilling is required to understand these hanging wall veins and their importance.
The first six holes have confirmed the F vein strike and dip and that it carries high-grade silver as
evidenced by assays over 300 gpt silver to a high of 775 gpt silver. The total width of the vein was
not reported in historic records with only the highest grades from 1 to 4-meter widths shown on old
maps. Thus, the potential width of the F vein at depth was unknown until now.
Drilling thus far has tested approximately 450 meters of strike in broad spaced fences of holes from
depths as shallow as 20 meters to as deep as 150 meters with 5 of 6 holes intercepting the F vein.
Having established good widths and grades in the F vein in historically worked areas, drilling will now
test the F vein where it is undisturbed and untested by modern or historic work. The program will
then move systematically from the F vein to the I vein, E vein, J vein, O vein and so on.
The F vein consists of a primary vein with significant vein, vein breccia and stockwork on its hang
wall side. The vein thus far displays classic high-level epithermal textures with evidence of multiple
pulses of mineralization in the multi-banded, brecciated and re silicified textures variously cross
cutting one another.
Detailed results of the first 6 drill holes can be seen in the table listed below:
Drill Results:
Hole ID
From
(meters)
To
(meters)
Interval
(meters)
Silver
gpt
Gold
gpt
Geologic
Intersection
CDH-19-001
59
75.5
16.5
93
N/A
Hanging-wall
Vein
CDH-19-001
Including
61.58
71
9.42
141
N/A
F Vein
CDH-19-001
Including
68
70.15
2.15
307
N/A
CDH-19-002
49.83
51
1.17
111
N/A
Hanging-wall
Vein
CDH-19-002
70
84
14.0
104
N/A
F Vein
CDH-19-002
Including
80
81
1.0
328
N/A
CDH-19-002
71.27
75
3.73
213
0.311
CDH-19-002
Including
71.27
72
0.73
332
0.554
CDH-19-003
15
20
5.0
85
N/A
F Vein
CDH-19-004
No Significant values
N/A
CDH-19-005
20
24.83
4.83
230
N/A
F Vein
CDH-19-005
Including
21
22.15
1.15
775
N/A
CDH-19-005
Including
21
23
2.0
518
N/A
CDH-19-006
139
140.5
1.5
235
N/A
Hanging-wall
vein
Stockwork
CDH-19-006
150.61
151.48
0.87
267
N/A
CDH-19-006
165
175.45
10.45
133
N/A
CDH-19-006
Including
174
175.45
1.45
287
N/A
F Vein
CDH-19-006
175.45
178
2.55
N/A
N/A
Mined Stope
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.
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 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 will be with HQ or NQ 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 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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at
August 11, 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.
SOURCE
Kootenay Silver Inc.
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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 09:00e 12-AUG-19