Kootenay Silver Announces Drilling is Underway at the Columba High Grade Silver Project
Kootenay Silver Announces Drilling is Underway at the Columba
High Grade Silver Project
VANCOUVER, BC
,
April 3, 2024
/CNW/ -
Kootenay Silver Inc.
(TSXV: KTN)
(the "Company" or "Kootenay")
is pleased to announce that drilling
is underway for its' Q1/Q2 diamond drilling program at Columba Silver Project ("Columba")
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.
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. The first assay
results are expected in 4 to 6 weeks time.
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.
Kootenay's President & CEO,
James McDonald
states,
"We are very excited to get underway drilling Columba once again. The initial holes of this
program will be shallow to confirm dip and then will transition into large step outs along strike of around 100 meters. This is to quickly determine
and demonstrate the overall size of the D Vein shoot along strike.
"
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
182.94
196.5
13.56
599
0.5
1.2
Includes
185.00
186.00
1.00
2060
3.2
4.3
CDH-23-141
250.00
279.00
29.00
208
0.2
0.5
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 60-85% of quoted core lengths.
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.
A comprehensive list of drill results completed on the Columba Property since 2019 may 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 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
April 2, 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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SOURCE
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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 07:30e 03-APR-24