Kootenay Provides Update on Upcoming Drill Program at Columba Silver Project, Mexico
Kootenay Provides Update on Upcoming
Drill Program at Columba Silver Project,
Mexico
VANCOUVER, May 1, 2019 /CNW/ - Kootenay Silver Inc. (TSXV:
KTN) (the "Company" or "Kootenay") is pleased to announce that
road construction is underway at the Columba silver project
("Columba" or "Property") located in Chihuahua State, Mexico.
The access road is presently being built for Kootenay to carry out the
first modern drill program at the Columba high grade silver
project. The Company has received necessary government permits
and is in the process of reviewing tenders from drilling companies
before awarding the contract for the upcoming drill program at
Columba. Kootenay anticipates drilling to begin within the first part of
May 2019.
Columba is a past producing high-grade silver mine, which operated
on a small scale circa 1910 and again briefly circa 1958-60. The
Property covers a large, potentially high-grade silver epithermal
system comprised of numerous veins, which the Company has
mapped over strike lengths from 200 meters to up to 2
kilometers. Underground workings found on the concessions include
4 shafts and 6 levels of drifts that have been reported to measure over
1,000 meters in length. Historic* mine records indicate grades from
these underground workings to range from 600 to 900 gpt silver with
highlights of 1900 gpt silver over 4 meters and 679 gpt silver along
133 meters of vein strike and 1.3 meters of vein width. (Click on this
link to view a video that illustrates the historic underground mining
data).
* The Company cautions that a qualified person has not done
sufficient work to verify the historical sampling data and has not
substantiated any data as it pertains to the Property; therefore,
the reader should not rely upon such historical grades. The
information is not necessarily indicative of mineralization on the
Property and is provided as background and context material for
the reader. The Company is treating the historical sampling data
as a guideline to determining potential future exploration
programs.
Columba Geology
Mineralization at Columba is text book low to medium sulfidation
epithermal vein hosted, displaying the classic zonation from non or
weakly anomalous silver at high elevations that increase with depth
into the classic high-grade zones that make them such profitable
deposit types. (Click to view an image that shows this zonation on the
Property).
Sampling and QA/QC
Surface samples reported herein are a combination of grab, chip and
panel chip. 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 under the
direction of qualified geologists. Samples are then labeled placed in
plastic bags, sealed and with interval, location and sample numbers
recorded. Samples are delivered by the Company via courier to ALS
Minerals ("ALS") in Hermosillo. 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.
Qualified Persons
The Kootenay scientific and 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.
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.
On Behalf of the Board of Directors of
KOOTENAY SILVER INC.
"James McDonald"
President & CEO
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.
CAUTIONARY NOTES:
The sampling results disclosed in this news release are not
necessarily indicative and drilling is required to confirm a mineral
deposit.
The information in this news release has been prepared as at April 30,
2019. This news release contains "forward-looking information" within
the meaning of Canadian securities legislation and "forward-looking
statements" within the meaning of the United States Private Securities
Litigation Reform Act of 1995 (collectively, "forward-looking
statements"). All statements, other than statements of historical fact,
that address activities, events or developments that Kootenay Silver
Inc. ("Kootenay" or the "Company") believes, expects or anticipates
will or may occur in the future including, without limitation, the
anticipated exploration program results from exploration activities, the
discovery and delineation of mineral deposits and sampling results
from the Columba Project and other properties, the anticipated
content, commencement, and cost of exploration programs in respect
of the Company's projects and mineral properties, the anticipated
business plans and timing of future activities of the Company, future
capital expenditures (including the amount and nature thereof),
business strategies and measures to implement strategies,
competitive strengths, goals, expansion and growth of the business
and operations, plans and references to the future success of the
Company, and such other matters, are forward‐looking
statements. These forward-looking statements reflect the current
expectations or beliefs of the Company based on information currently
available to Kootenay and often use words such as "expects", "plans",
"anticipates", "estimates", "believes", "intends", "potential", "may" or
variations thereof or the negative of any of these terms.
Forward-looking statements are subject to a number of risks and
uncertainties that may cause the actual results of the Company to
differ materially from those discussed in the forward-looking
statements and, even if such actual results are realized or
substantially realized, there can be no assurance that they will have
the expected consequences to, or effects on, Kootenay. Factors that
could cause actual results or events to differ materially from current
expectations include, among other things: the ability of the Company
to obtain sufficient financing to fund its business activities and plans,
operating and technical difficulties in connection with mineral
exploration and development and mine development activities for
Company's projects generally, actual results of exploration activities
(including the estimation or realization of mineral reserves and mineral
resources), the timing and amount of estimated future production,
costs of production, capital expenditures, the costs and timing of the
development of new deposits, the availability of a sufficient supply of
water and other materials, requirements for additional capital, future
prices of gold and silver, changes in general economic conditions,
changes in the financial markets and in the demand and market price
for commodities, possible variations in ore grade or recovery rates,
possible failures of plants, equipment or processes to operate as
anticipated, accidents, labour disputes and other risks of the mining
industry, delays in obtaining governmental and regulatory approvals
(including of the TSX Venture Exchange), permits or financing or in
the completion of development or construction activities, changes in
laws, regulations and policies affecting mining operations, hedging
practices, currency fluctuations, title disputes or claims limitations on
insurance coverage and the timing and possible outcome of pending
litigation, environmental issues and liabilities, risks related to joint
venture operations, and risks related to the integration of acquisitions,
as well as those factors discussed under "Risk Factors" in the
Company's most recent annual management's discussion and
analysis and other filings of the Company with the Canadian
Securities Administrators, copies of which can be found under the
Company's profile on the SEDAR website at www.sedar.com.
Any forward-looking statement speaks only as of the date on which it
was made, and except as may be required by applicable securities
laws, Kootenay disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise. Although Kootenay believes that
the assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such statements due to their inherent uncertainty. There can be no
assurance that forward-looking statements will prove to be accurate,
and actual results and future events could differ materially from those
anticipated in such statements.
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.
SOURCE Kootenay Silver Inc.
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%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 09:00e 01-MAY-19