Kootenay Silver Reports 0.47 gpt Gold over 222.0 Meters from Rock Sampling Program at Cervantes Gold Project, Sonora Mexico
Kootenay Silver Reports 0.47 gpt Gold over
222.0 Meters from Rock Sampling Program at
Cervantes Gold Project, Sonora Mexico
VANCOUVER
,
Aug. 22, 2018
/CNW/
- Kootenay Silver Inc. (TSXV: KTN) (the "Company" or
"Kootenay")
is pleased to announce that Aztec Minerals Corp. ("
Aztec
") has reported positive
sample results on Kootenay's
Cervantes
gold property ("
Cervantes
" or the "
Property
") located in
Sonora
, Mexico.
Rock chip-channel sampling conducted by Aztec (see table below) returned 0.47 gpt gold over 222.0
meters from Line B taken along drill roads at the
California
porphyry gold-copper prospect.
Highlights of the program also include sample results from five of the seven sample lines that confirm
highly anomalous soil sample results and extensive porphyry-type gold mineralization intersected in
the Phase 1 drill program (
click to view map
).
Line Sampling Results
Line Number
Continuous Length in Meters
Gold (gpt)
A
75.0
0.11
B
222.0
0.47
C
84.0
0.40
D
183.0
0.32
E
81.0
0.53
F
33.0
0.26
G
111.0
0.02
Of particular interest is rock sample line G which returned 0.02 gpt gold over 111.0 meters adjacent
to drill hole 18CER017 which intersected 0.35 gpt gold over 116.0 meters with 62.0 meters of 0.50
gpt gold. More studies are required to understand the controls on mineralization and infill drilling
should help to better define the geometry of the subsurface mineralized zones.
Aztec's Phase 2 exploration program consists of geological mapping, rock, soil and sediment
sampling and airborne magnetic and radiometric surveys to focus on better defining additional drill
targets on the recently expanded (3,649 hectares) the Property.
New Terraspec SWIR analysis of core samples was recently conducted and results are under
evaluation. Preliminary results suggest a good correlation between elevated gold values and high
temperature muscovite and/or illite phyllosilicates. Recognizing the minerals associated with gold
mineralization will assist Aztec in prospecting the rest of the
Cervantes
property. The Terraspec
SWIR measures and identifies specific minerals including higher temperature, well-crystallized
minerals often associated with gold mineralization.
To date, soil sampling results range from 0.00 gpt up to 3.30 gpt gold (mostly 0.01 to 1.0 gpt gold)
and confirm four historic prospects as highly anomalous gold targets (
click to view map
):
California
north extension soil assays up to 0.33 gpt gold, open to north and west
Purisima East
soil assays up to 3.3 gpt gold, 15 samples > 1.0 gpt gold, 700x700 meter
anomaly
Purisima West
soil assays up to 0.61 gpt gold, open to east
Jacobo soil assays up to 0.66 gpt gold, open in all directions
The previous IP-resistivity survey over the
California
prospect outlined a large, strong chargeability
anomaly interpreted to be a zone of porphyry related sulfide mineralization extending from the
interpreted base of the oxide zone around 100 metres deep plunging to the southeast down below
the 400 metre depth limit of the survey. This chargeability anomaly remains a top priority drill target
to expand the known porphyry type mineralization at the
California
prospect.
The airborne magnetic and radiometric survey is scheduled for completion in October after the rain
season is over. The airborne geophysical data should assist in identifying new prospective targets
as well as refining our understanding of the multiple existing targets at Cervantes. At that time,
Aztec will evaluate its priorities for the next phase of drilling.
The Cervantes Property is held under an earn-in option to agreement whereby Aztec Minerals can
acquire up to 100% interest in the property in two stages. Upon completion of the two stage earn-in,
Kootenay will retain a 2.5 % NSR and receive a payment of
US$5.00
per ounce or gold or gold
equivalent based on a NI 43-101 Resource Estimate. For more information see the Company's news
release dated
October 13, 2015
.
Sampling and QA/QC
All rock samples were put into plastic bags, labeled with sample number, closed with zip ties, and
placed in polyfiber sacks by Aztec Minerals. Chip-channel samples were collected in
3.0 m
intervals and described in detail. Blanks and certified standards were inserted into the chip-
channel sample stream and subsequently reviewed, without any outliers or abnormal results. Soil
samples were collected in the field with a minus 10 sieve, collecting 1.5 to 2.0 kg samples and
placed in manila envelopes. The rock and soil samples were delivered to Bureau Veritas
Laboratories in
Hermosillo
and analyzed for gold using a 30 gram sample by fire assay fusion with
AAS finish. The XRF scanning for base and trace elements was conducted by a geologist in
Hermosillo
with an Innovex Delta, under Aztec supervision.
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 dprojects 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
August 21, 2018
. 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 Cervantes 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.
View original content with multimedia:
http://www.newswire.ca/en/releases/archive/August2018/22/c1018.html
%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 11:05e 22-AUG-18