Kootenay Intercepts 1,297 gpt Silver & 0.285 gpt Gold Over 3.2 Meters at Copalito Silver- Gold Project, Mexico
Kootenay Intercepts 1,297 gpt Silver & 0.285
gpt Gold Over 3.2 Meters at Copalito Silver-
Gold Project, Mexico
VANCOUVER, BC
,
July 22, 2020
/CNW/ -
Kootenay Silver Inc.
(TSXV: KTN)
(the "Company" or
"Kootenay")
is pleased to announce assay results from 3 new drill holes at the Copalito silver-gold
project (the "Property") in Sinaloa State,
Mexico
. These are the second, third and fourth core holes
to be announced since the restart of the 3,000 meter, 2020 drill campaign (the "Program") designed
to target high-grade silver and gold showings of the 6 principal veins exposed at surface on the
Property.
James McDonald
, President and CEO of Kootenay, stated:
"Encountering high silver grades so
early in the inaugural drill program at Copalito is very exciting. We are optimistic about the potential
of both Copalito and Columba hosting high-grade silver resources to add to our existing silver
equivalent resource base of 144 million ounces in the measured and indicated category plus 35.7
million ounces in the inferred category at our La Cigarra and Promontorio properties. These projects
represent a very strong portfolio of silver projects for the Company and shareholders as we enter a
higher silver price environment."
Holes, BDH-20-002 to BDH-20-004, tested the 5 Senores Vein located in the southern area of the
Property. These holes, along with the previously released BDH-20-001 (see KTN news release
dated
June 16, 2020
), show good continuity for at least 500 meters of strike length along 5 Senores.
In addition, drilling has shown high-grade mineralization matching up with the promising results
garnered form surface sampling.
Two holes contained particularly exciting results. At a shallow depth hole BDH-20-004 intercepted
2,830 gpt silver
with
0.145 gpt gold
over
1 meter
within
3.2 meters
of
1,297 gpt silver
and
0.285.
gpt gold
all within
13.1 meters
of
347 gpt silver
and
0.216. gpt gold.
BDH-20-002 hit
10.3 meters
of
80 gpt silver
and
0.905 gold
including
1.7 meters
of
3.2 gpt gold
beginning at a depth of 42
meters.
Highlights form BDH-20-002 to BDH-20-004:
BDH-20-002
118 gpt silver
and
0.346 gpt gold
over 6.0 meters includes:
1.69 gpt gold
over 4.3 meters and
3.02 gpt gold
over 1.7 meters
BDH-20-004
2,830 gpt silver
and
0.145 gpt gold
over 1.0 meters within
1,297 gpt silver
and
0.285 gpt gold
over 3.2 meters and
347 gpt silver
and
0.216 gpt gold
over 13.1 meters within the 5 senores vein; this interval
encapsulates the first two highlights.
Hole BDH-20-005, drilled beneath BDH-20-004, hit a calcite breccia along the vein projection and is
interpreted to be fault offset.
Detailed Drill Results from BDH-20-001 to BDH-20-004
Hole ID
From
(meters)
To
(meters)
Interval
(meters)
Silver
(gpt)
Gold
(gpt)
Silver Eq.
(gpt)
BDH-20-001
8
64
56.0
58.0
-
58
including
29
51
22.0
106.0
-
106
including
29
32
3.0
244.0
1.09
342
including
46
51
5.0
250.0
0.247
272
BDH-20-002
42
52.25
10.3
80.0
0.905
161.5
Including
42
48
6.0
118.0
0.346
149.1
including
48
52.25
4.3
26.7
1.69
178.8
including
50.6
52.25
1.7
3.0
3.02
274.8
BDH-20-003
31
38.1
7.1
29.7
0.307
57.33
including
33
37
4.0
33.8
0.516
80.24
including
34
35
1.0
40.0
1.18
146.2
BDH-20-004
20.82
21.25
0.4
146.0
-
-
BDH-20-004
41
42
1.0
100.0
-
BDH-20-004
54
67.1
13.1
347.0
0.216
366.44
including
57.78
61
3.2
1,297.0
0.285
1,322.65
including
60
61
1.0
2,830.0
0.145
2,843.1
Note: Silver Equivalent based on 90:1 (silver to gold ratio)
Mineralization occurs in both classically banded quartz veins (+/- calcite) and silicified breccia within
the vein structures accompanied by 2 to 5% disseminated pyrite in chlorite altered wall rocks.
Sulfides in veins include pyrite, galena and sphalerite.
The strategy is to put a few holes into each of the principle outcropping veins to establish which are
most promising for hosting high grade deposits and then test those areas with a larger follow up
program. Thus, drilling will continue to systematically move from one outcropping vein set to another
with the objective of establishing vein geometry (strike and dip), grades and widths and finding veins
not exposed at surface. Most holes are quite shallow in this first phase.
Results will continue to be released as assays are received and interpreted by the Company. To
date approximately 1,600-meters of the 3,000-meter program has been completed.
Click to view
plan maps
and
cross sections
.
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.
Sampling and QA/QC
All technical information for the Copalito 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
Hermosillo, Sonora
. The samples are dried,
crushed and pulverized with the pulps being sent airfreight for analysis by ALS in
North 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 the states of
Sonora
,
Sinaloa
and
Chihuahua,
Mexico
, respectively.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at
July 21, 2020
. 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 03:00e 22-JUL-20