Kootenay Announces Update on 15,000-Meter Drill Program at Columba High-Grade Silver Project, Mexico
Kootenay Announces Update on 15,000-Meter Drill Program at Columba
High-Grade Silver Project, Mexico
VANCOUVER, BC
,
Aug. 4, 2022
/CNW/ -
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
.
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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at
August 3, 2022
. 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 includes Mineral Reserves and Mineral Resources classification terms that comply with reporting
standards in
Canada
and the Mineral Reserves and the Mineral Resources estimates are made in accordance with National Instrument 43-101 – Standards of
Disclosure for Mineral Projects ("
NI 43-101
"). NI 43-101 is a rule developed by the Canadian Securities Administrators that establishes standards for all public
disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ significantly from the requirements
adopted by the U.S. Securities and Exchange Commission (the "
SEC
"). The SEC sets rules that are applicable to domestic
United States
reporting companies.
Consequently, Mineral Reserves and Mineral Resources information included in this news release is not comparable to similar information that would generally
be disclosed by domestic U.S. reporting companies subject to the reporting and disclosure requirements of the SEC. Accordingly, information concerning
mineral deposits set forth herein may not be comparable with information made public by companies that report in accordance with U.S. standards.
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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 04-AUG-22