Kootenay Silver Announces Commencement of 2024 Drilling Program at Columba High Grade Silver Project
Kootenay Silver Announces Commencement of 2024 Drilling Program at
Columba High Grade Silver Project
VANCOUVER, BC
,
March 14, 2024
/CNW/ -
Kootenay Silver Inc.
(TSXV: KTN)
(the "Company" or "Kootenay")
is pleased to announce initiation of its' Q1
diamond drilling program at Columba Silver Project ("Columba") in
Chihuahua, Mexico
. The proposed program includes 15-17 drillholes for a combined 5,000
metres and is designed to expand upon previous intercepts along the highly prospective D-Vein target.
Recent drilling in late 2023 focused on the "D-Vein" target, a silver bearing quartz-calcite-barite vein structure hosting the highest grades and widths yet seen at
Columba. D-Vein has been intercepted by drilling over a length of 450 metres horizontally and to a depth of 250 metres. Geological mapping and sampling indicate
an additional 800 metres of prospective strike length before the interpreted D-Vein structure intersects with the trace of the B-Vein/F-Vein corridor.
Highlights from the 2023 program include drilled widths such as
13.56 meters of 599 gpt silver, 8.19 meters of 532 gpt silver and 10.26 meters of 501gpt
silver (see news releases
October 17th
and
December 14th, 2023
).
Kootenay's President & CEO,
James McDonald
states,
"D-Vein target has continued to return excellent grades and widths. Our most recent drilling program
concluded in late 2023 and intercepted D Vein in each of the twelve holes. We are very pleased with the exceptional silver grades and consistent mineralized
widths we see on that Vein. We commence drilling in 2024 with the aim of adding sufficient data to calculate our first mineral resource estimate at Columba by
the end of the year."
Drill highlights, maps and sections from the project are tabulated on the Company's website at the links below
Click to view the
drill plan
,
long section
, and
cross sections
.
Table 1. Highlights from Drilling Across the Columba Project
Hole ID
From
(meters)
To
(meters)
Interval
(meters)
Silver
gpt
Gold
gpt
Pb %
Zn%
F-VEIN SYSTEM
CDH-19-040
21.00
25.90
4.90
194
0.1
0.2
Includes
22.85
23.73
0.88
808
0.3
0.4
CDH-19-041
15.00
54.90
39.90
159
0.1
0.1
Includes
42.85
44.00
1.15
919
0.4
0.1
CDH-20-046
71.00
77.80
6.80
264
0.1
0.1
Includes
71.80
72.40
0.60
1585
0.3
0.3
CDH-20-049
124.00
126.80
2.80
762
0.4
0.5
Includes
125.80
126.80
1.00
2010
1.2
1.2
CDH-21-094
175.00
184.00
9.00
354
0.1
0.4
Includes
176.90
178.40
1.50
985
0.5
0.5
CDH-22-121
248.60
250.23
1.63
2330
0.1
0.8
And
260.00
262.00
2.00
161
0.0
0.1
J-VEIN SYSTEM (JZ Zone)
CDH-19-030
149.15
175.00
25.85
200
0.0
0.2
Includes
156.17
158.07
1.90
982
0.1
0.4
CDH-20-060
144.00
208.00
64.00
132
0.0
0.1
Includes
152.00
153.00
1.00
1025
0.1
0.2
Includes
193.00
194.00
1.00
1160
0.1
0.1
Includes
194.00
195.00
1.00
776
0.2
0.2
CDH-21-103
166.00
210.00
44.00
333
0.1
0.1
Includes
188.00
194.00
6.00
2035
0.5
0.2
Includes
192.15
193.07
0.92
9,840
2.6
0.1
B-VEIN SYSTEM
CDH-20-082
127.50
198.00
70.50
112
0.0
0.1
Includes
183.00
192.00
9.00
691
0.1
0.5
Includes
184.50
189.10
4.60
1186
0.2
0.5
CDH-21-112
197.50
227.00
29.50
219
0.1
0.1
Includes
212.00
214.00
2.00
1050
0.4
0.2
Includes
214.00
215.00
1.00
781
0.1
0.1
D-VEIN SYSTEM
CDH-21-110
176.10
206.00
29.90
453
0.6
1.4
Includes
178.20
196.00
17.80
650
0.9
2.3
Includes
181.17
182.00
0.83
1915
0.5
3.5
Includes
191.00
192.00
1.00
1565
3.1
8.9
Includes
192.00
193.00
1.00
1360
5.4
9.0
Includes
201.30
201.85
1.00
1765
0.35
1.2
1.5
CDH-22-125
269.55
304.00
34.45
540
0.26
0.4
1.6
Includes
283.12
292.82
9.70
1746
0.88
1.1
5.2
Includes
283.12
289.72
6.60
2498
1.28
1.6
7.5
Includes
286.00
288.45
2.45
5840
3.00
3.1
17.3
CDH-23-138
159.00
202.00
43.00
208
0.2
0.4
Includes
182.94
193.00
10.06
737
0.6
1.5
Includes
185.00
186.00
1.00
2060
3.2
4.3
Includes
190.00
191.00
1.00
1090
0.7
2.5
CDH-23-141
247.00
279.00
32.00
191
0.2
0.4
Includes
266.70
276.37
9.67
510
0.20
0.5
1.0
Includes
274.00
276.37
2.37
1142
0.10
0.9
2.5
Intervals quoted above are core-lengths, estimated true widths of intervals above range from 65-85% of quoted core lengths
Characteristic features of drill intercepts at Columba drilling, and D-Vein in particular are broad zones of mineralized stock work adjacent to veins, as evidenced in
CDH-21-110, CDH-22-125, CDH-23-138 and CDH-23-141 quoted in the D Vein portion of table above.
The company has completed over 30,000 meters of diamond drilling in 147 holes at Columba since 2019 and intercepted numerous veins with high silver grades
and widths indicating excellent resource potential. Prospective veins on the project are hosted within a volcanic caldera setting, the surface extent of mapped veins
measuring roughly 4 kilometres by 3 kilometres. Management believes that Columba may be a newly recognized vein district that is nearly entirely preserved from
erosion.
The current drilling program is designed to extend the D-Vein in preparation of a follow up program of likely 15,000 meters, aimed to delineate a maiden resource
expected in late 2024 which is dependent on additional drilling beyond the 5000 meter program and the financing it requires. In addition to the D-Vein, the
Company maintains a priority list of new vein targets and known vein extensions all warranting drill testing.
A comprehensive list of drill results completed on the Columba Property since 2019 may be viewed here:
Columba Drill Results
.
Other news.
The Company also reports that Kootenay Resources Inc. which is a spin out of the Company and holds the Canadian assets announced it has been approved for
conditional listing on the Toronto Venture Exchange pending meeting minimum funding requirements. Additionally, Kootenay Resources announced a financing of
flow through and non-flow through shares priced at
$0.15
and
$0.10
per share respectively for funds totalling
$500,000
. The Company holds approximately 14%
of the issued shares of Kootenay Resources. See "
link
" '
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 intervals at an average 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 was completed by Globextools, S.A. de C.V.
of 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 Mr. Dale Brittliffe, BSc. P. Geol., Vice
President, Exploration of Kootenay Silver, is the Company's nominated Qualified Person pursuant to National Instrument 43-101, Standards for Disclosure for
Mineral Projects, has reviewed the scientific and technical information disclosed in this news release. Mr. Brittliffe is not independent of Kootenay Silver.
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
.
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
March 13, 2024
. 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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%SEDAR: 00016508E
For further information:
please contact: 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 07:30e 14-MAR-24