Kootenay Temporarily Suspends Drill Programs at Columba & Copalito Silver Projects, Mexico
Kootenay Temporarily Suspends Drill
Programs at Columba & Copalito Silver
Projects, Mexico
VANCOUVER
,
March 31, 2020
/CNW/ -
Kootenay Silver Inc. (TSXV: KTN) (the "Company" or
"Kootenay")
reports that it has temporarily suspended the current drill programs at its Columba
silver & Copalito silver-gold projects located in the states of Chihuahua and
Sinaloa, Mexico
. These
actions were taken to minimize the potential exposure of the novel coronavirus ("COVID-19") to the
Company's employees, contractors, families and communities and to comply with the Mexico
Presidential Decree issued
March 30
, 2020.
Kootenay President and CEO,
James McDonald
stated
: "Although these drill stoppages are
unfortunate, it is the responsible course of action to take under the current circumstances. Kootenay
will continue to monitor the evolving situation and follow protocols consistent with minimizing the
spread of the COVID-19 virus to protect the health of its work force and their local communities.
Kootenay is well financed with
$6.8 million
in cash, no debt and possesses quality silver assets that
will continue to strongly position the Company once the markets emerge from this crisis."
Prior to the work stoppage at Columba, the Company completed a total of 1,679 metres over 10
drill-holes of the planned 7,000 metre phase II program. To date, phase II drilling has focused on
the historically mined F Vein to define the mineralized strike length and depth extent of the vein.
Once the program resumes at Columba, drilling will continue to test F Vein in addition to other
priority areas and structures where 2019 drilling intercepted favorable widths and appreciable silver
grades. Detailed results for all 2019 drill-holes can be viewed by clicking the following link:
2019 Columba Drill Results
.
At the Copalito silver-gold project, located in Sinaloa State, the Company completed the first hole of
a planned 3,000-meter drill program. The first drill-hole, totaling 105.2 meters in length, successfully
intercepted the 5 Senores Vein over a drill width of nearly 40 meters. The program is designed to
test 6 principal veins at the Property. Previous surface sampling by Kootenay along the veins
returned significant silver and gold values over variable widths of 0.5 to 15 meters, (for previously
reported samples see KTN news releases dated
July 19
,
September 20
, 2018,
January 21
and
April 10
, 2019). To the knowledge of the Company, no previous significant modern exploration or
drilling has been conducted at Copalito.
Kootenay intends to resume these programs once the health risk due to COVID-19 allows.
Results from the drilling completed to date, will be announced once the assays are received and
interpreted by the Company.
Sampling and QA/QC
Surface samples reported herein are a combination of grab, chip and panel chip. All technical
information for the Columba and Copalito exploration programs are 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
March 30, 2020
. 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 Copalito 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: kootenaysilver.com
CO: Kootenay Silver Inc.
CNW 17:54e 31-MAR-20