Kootenay to Commence Drilling at Columba Silver Project, Mexico
Kootenay to Commence Drilling at Columba
Silver Project, Mexico
VANCOUVER
,
July 2, 2019
/CNW/ -
Kootenay Silver Inc. (TSXV: KTN) (the "Company" or
"Kootenay")
is pleased to announce a drill rig has been mobilized to commence a minimum 3,000-
meter core drill program at the Columba silver project ("Columba" or "Property") located in
Chihuahua State, Mexico.
Kootenay President and CEO,
James McDonald
stated: "We are excited to test the vein system to
confirm the historically reported grades and widths. The first 12 holes of the drill program will be
designed to test the F vein where underground development work extended to 200 meter depth and
the historic mining occurred."
Columba covers a large high-grade epithermal vein system which the Company has mapped and
sampled with grades retuning up to 693 gpt silver on surface. The project area includes a network
of underground workings comprised of 4 shafts and 6 levels of drifts reported to measure over
1,000 meters in length. Historic* mine records indicate grades from these underground workings to
range from 600 to 900 gpt silver with highlights of 1,900 gpt silver over 4 meters and 679 gpt silver
along 133 meters of vein strike and 1.3 meters of vein width. (
Click on this link to view a video that illustrates the historic underground mining data
).
The Company has contracted GlobeXplore, S.A. de C.V. of
Hermosillo, Sonora, Mexico
to conduct
the drilling at Columba. Results of the drill program will be announced as soon as the assays are
received and interpreted by the Company.
*
The Company cautions that a qualified person has not done sufficient work to verify the historical sampling data and has not substantiated any data as it pertains to the
Property; therefore, the reader should not rely upon such historical grades. The information is not necessarily indicative of mineralization on the Property and is provided as
background and context material for the reader. The Company is treating the historical sampling data as a guideline to determining potential future exploration programs.
The Company also announces stock purchase options have been granted under the Company's
stock option plan to officers, directors, employees and consultants to purchase up to an aggregate
of 8.45 million shares of Kootenay at a price of
$0.14
per common share for a period of five years.
About Columba
Columba is a past producing high-grade silver mine, which operated on a small scale circa 1910 and
again briefly circa 1958-60. The Property covers a large, potentially high-grade silver epithermal
system comprised of numerous veins, which the Company has mapped over strike lengths from 200
meters to up to 2 kilometers.
Columba Geology
Mineralization at Columba is text book low to medium sulfidation epithermal vein hosted, displaying
the classic zonation from non or weakly anomalous silver at high elevations that increase with depth
into the classic high-grade zones that make them such profitable deposit types. (
Click to view an image that shows this zonation on the Property
).
Sampling and QA/QC
Surface samples reported herein are a combination of grab, chip and panel chip. 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 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
July 1, 2019
. 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 Columba 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: www.kootenaysilver.com
CO: Kootenay Silver Inc.
CNW 08:30e 02-JUL-19