Kootenay Reports High Grade Silver Intercepts Including 601 gpt Over 1.23 Meters Within 279 gpt Over 4.08 Meters & 753 gpt Over 0.95 Meters Within 620 gpt Over 2 Meters at Columba Project, Mexico
Kootenay Reports High Grade Silver
Intercepts Including 601 gpt Over 1.23 Meters
Within 279 gpt Over 4.08 Meters & 753 gpt
Over 0.95 Meters Within 620 gpt Over 2 Meters
at Columba Project, Mexico
VANCOUVER, BC
,
July 16, 2020
/CNW/ -
Kootenay Silver Inc.
(TSXV: KTN)
(the
"Company"
or
"Kootenay"
) is pleased to report results from an additional 5 drill holes from the high-grade
Columba Property (the
"Property")
located in Chihuahua State,
Mexico
. These holes are step outs
along strike and to depth from high-grade intercepts previously reported in the Phase-II drill
campaign (the
"Program"
).
Kootenay President and CEO
James McDonald
stated
: "These results show excellent continuity
and grade along the F Vein for 700 meters of strike length and depths to 240 meters. Having
established at least one well mineralized shoot within the F Vein over a substantial area we will now
focus on testing other veins on the Property. Priority areas include the J-Z vein area where last year
hole CDH-19-030 returned a 25.85 meter intercept grading 200 gpt silver and included highs of 982
gpt silver over 1.8 meters, 415 gpt silver over 11 meters and 721 gpt silver over 4 meters!"
Mineralization on the F Vein remains open along strike and to depth and continues to be a promising
target for further investigation after other veins have been explored. To date the spacing of drill holes
along the F Vein has varied from 50 meters to over 200 meters thus more drilling is required.
Currently, sufficient drilling of the F Vein has been completed to establish a well mineralized shoot so
drilling will move onto the other veins.
Holes CDH-20-052 and CDH-20-053 fill in a 140 meter gap between previous holes CDH-20-046,
which reported
1585 gpt silver
over 0.6 meters
within
553 gpt silver
over 2.9 meters,
and CDH-
19-035 with
494 gpt
silver
over 1.35 meters.
Highlights from the additional 5 holes include:
CDH-20-052
601 gpt silver over 1.23 meters
within a wider intercept of
279 gpt silver over 4.08 meters
and
199 gpt silver over 7.53 meters
within the F Vein.
CDH-20-053
753 gpt
Ag over 0.95 meters
within
620 gpt silver over 2 meters
,
496 gpt silver
over 3
meters
and 116 gpt silver over 34 meters within the F Vein.
CDH-20-053 is about 53 meters down dip and 15 meters north of CDH-20-052
CDH-20-054
319 gpt
silver over 1.8 meters
within 158 gpt silver over 5 meters within the F Vein.
CDH-20-054 is 20 meters south of CDH-19-035 and approximately 20 meters further down dip.
CDH-20-055
Returned two lower grade intervals within the F Vein approximately 100 meters and 125 meters
down dip of holes CDH-19-035 and CDH-20-054 respectively.
Hole CDH-20-056 was abandoned due to bad ground about 150 meters before reaching target
depth.
Click to view the
plan map
,
F Vein map
and
long section
, and
drill sections
.
Detailed Drill Results – CDH-20-052 to CDH-20-055
Hole ID
From
(meters)
To
(meters)
Interval
(meters)
Silver
gpt
Pb
%
Zn
%
Geologic
Intersection
CDH-20-052
100.92
143.35
42.43
61
0.03
0.12
F Vein +
Hanging Wall
Including
100.92
108.45
7.53
199
0.08
0.27
100.92
105
4.08
279
0.11
0.38
102.39
105
2.61
366
0.14
0.5
F Vein
Including
102.39
103.62
1.23
601
0.26
0,76
And
132.55
134.48
1.93
103
0.06
0.67
F-Vein Footwall
CDH-20-053
72.48
72.91
0.43
193
0.13
0.19
Hanging Wall Structure
And
138
172
34
116
0.11
0.24
F-Vein + Hanging Wall
Including
139
150
11
175
0.17
0.37
Including
161.65
164.65
3
496
0.55
0.91
F Vein
Including
162.65
164.65
2
620
0.35
0.90
Including
162.65
163.6
0.95
753
0.38
1.0
Including
163.60
164.65
1.05
501
1.0
0.82
CHD-20-054
98
123
25
57
0.12
0.13
F Vein
Including
106
111
5
158
0.4
0.35
Including
108
109.8
1.8
319
0.18
0.5
And
121
123
2
104
0.07
0.28
F Vein Footwall
CDH-20-55
196.7
199.75
3.05
58
0.05
0.11
F Vein
Including
198.25
198.8
0.55
101
0.10
0.15
And
217
221
4
171
0.10
0.30
Footwall Structure
Including
217
219
2
150
0.08
0.27
Including
219
221
2
192
0.20
0.31
This release brings the total holes of the Phase-II campaign drilled thus far in 2020 to 16; all of
which have tested the F Vein with most returning multiple high-grade intercepts. A total of about
3200 meters of the announced 7000-meter program has been completed.
Drilling is ongoing and more results will be released once holes are completed and assays are
received, compiled, and interpreted.
Prior to the work stoppage due to COVID-19 a total of 10 holes were completed. Results for the
first 10 holes, previously released on
May 19
th
and
May 26
th
, 2020, have been provided again in the
highlights below followed by a detailed table containing their full results:
Highlights of Holes CDH-20-042 to CDH-20-051 (news release
May 19
th
and 26th, 2020):
CDH-20-045
456 gpt
silver over 1.5 meters
within
2.5 meters of 350 gpt silver
and
239 gpt silver over
4.3 meters
in the F Vein.
974 gpt silver over 0.5 meters
within 208 gpt silver over 3 meters in a footwall Vein.
CDH-20-046
1,585 gpt silver over 0.6 meters
within
911 gpt silver
over 1.4 meters
and
553 gpt
silver
over 2.9 meters
and
689 gpt
silver over 0.5 meters
all in the F Vein.
CDH-20-047
782 gpt silver
over 1.05 meters
within
400 gpt silver
over 4.97 meters
all within a wider
interval of 15.65 meters averaging 166 gpt silver.
CDH-20-042
Intercepted
111 gpt silver over 5.9 meters
before entering an old mine working.
CDH-20-043
Intercepted 105 gpt silver over 1 meter before entering an old mine working.
Intercepted a footwall Vein grading 119 gpt silver over 5 meters.
CDH-20-048
259 gpt silver over 1.06 meters
in the Hanging-wall structure.
197 gpt silver over 3.6 meters
within
124 gpt silver over 7.0 meters
in the F Vein structure.
CDH-20-049
2,010 gpt silver over 1.0 meter
within
762 gpt silver over 2.8 meters
in the Hanging-wall
vein.
368 gpt silver over 0.65 meters
within 68 gpt silver over 10.2 meters in the Hanging-wall
structure.
484 gpt silver over 1.4 meters
within
209 gpt silver over 4.4 meters
in the F Vein structure.
CDH-20-050
486 gpt silver over 0.45 meters
within 50 gpt silver over 38 meters in the F Vein structure.
CDH-20-051
865 gpt silver over 2.0 meters
within
317 gpt silver over 6.0 meters
in the Hanging-wall
structure.
769 gpt silver over 1.1 meters
and
317 gpt silver over 4.36 meters
within
72 gpt silver over
36 meters
in the F Vein structure.
Detailed Drill Results of Previously Released 2020 Holes CDH-20-042 to CDH-20-051
Hole ID
From
(meters)
To
(meters)
Interval
(meters)
Silver
gpt
Pb
%
Zn
%
Geologic
Intersection
CDH-20-042
42.4
42.7
0.3
115
Hanging wall Quartz vein
And
67
80
13.0
86
0.02
0.1
F Vein system
&
mined stope
And
70.4
76.3
5.9
111
0.03
0.11
CDH-20-043
63
64
1.0
105
0.02
0.06
F Vein system
&
mined stope
And
75
80
5.0
119
0.05
0.16
Calcite-Quartz-Barite vein (Footwall Vein)
CDH-20-044
29
30.9
1.9
56
0.03
0.01
Faulted F Vein
CDH-20-045
63.7
68
4.3
239
0.08
0.36
F Vein
Includes
64.6
67.1
2.5
350
0.12
0.48
Includes
65.6
67.1
1.5
456
0.17
0.62
And
77
80
3.0
208
0.08
0.21
Quartz Barite Vein,
(Footwall Vein)
Includes
78.3
78.8
0.5
974
0.03
0.3
CDH-20-046
71.0
77.8
6.8
264
0.06
0.13
F Vein System
Includes
71.8
73.2
1.4
911
0.24
0.24
Includes
71.8
74.7
2.9
553
0.13
0.18
Includes
71.8
72.4
0.6
1585
0.33
0.33
Includes
72.7
73.2
0.5
689
0.206
0.29
Includes
73.2
74.7
1.5
219
0.04
0.13
CDH-20-047
111.0
126.65
15.65
166
0.17
0.47
F Vein System
Includes
114.0
119.97
5.97
351
0.4
1.03
Includes
115.0
119.97
4.97
400
0.45
1.2
Includes
115.7
116.75
1.05
782
1.13
3.6
Includes
116.75
117.9
1.15
305
0.1
0.3
Includes
117.9
119
1.1
219
0.38
0.65
Includes
119.0
119.97
0.97
432
0.48
1.05
Includes
119.97
126.65
6.68
55
0.02
0.13
CDH-20-048
108.69
109.75
1.06
259
0.16
0.3
Hanging-wall Structure
182
189
7
124
0.16
0.6
F Vein Structure
including
184.4
188
3.6
197
0.28
1.07
including
184.4
186.05
1.65
257
0.33
1.74
219
220
1
104
0.2
0.04
Footwall Structure
CDH-20-049
124
126.8
2.8
762
0.42
0.54
Hanging-wall Vein
including
125.8
126.8
1
2010
1.18
1.24
248.8
259
10.2
68
0.02
0.1
Hanging-wall Structure
including
250.95
251.6
0.65
368
0.2
0.43
311
315.4
4.4
209
0.16
0.26
F Vein Structure
including
311.9
312.7
0.8
212
0.29
0.53
And
314
315.4
1.4
484
0.15
0.3
CDH-20-050
137.8
145.9
8.1
92
0.07
0.12
Hanging-wall Structure
including
140.2
140.7
0.5
737
0.257
0.52
175
213
38
50
0.04
0.11
F Vein Structure
including
175
176.2
1.2
141
0.09
And
184.7
185.15
0.45
486
0.24
0.15
And
198.25
200.06
1.81
118
0.13
0.24
And
211
213
2.0
119
0.06
0.22
CDH-20-051
147
153
6.0
317
0.12
0.17
Hanging-wall Structure
including
149
151
2.0
865
0.37
0.42
193
198
5.0
87
0.07
0.1
Hanging-wall Vein
including
196.54
198
1.46
135
0.02
0.15
207
243
36.0
72
0.05
0.17
F Vein Structure
including
207
211.36
4.36
317
0.27
0.93
And
210.26
211.36
1.1
769
0.75
2.88
278
281.63
3.63
147
0.21
1.41
Footwall Structure
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 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 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 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
July 15, 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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%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 08:30e 16-JUL-20