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Kootenay Silver Inc
Symbol KTN
Shares Issued 288,468,175
Close 2020-07-21 C$ 0.395
Recent Sedar Documents

Kootenay Silver drills 3.2 m of 1,297 g/t Ag at Copalito

2020-07-22 06:04 ET - News Release

Mr. James McDonald reports

KOOTENAY INTERCEPTS 1,297 GPT SILVER & 0.285 GPT GOLD OVER 3.2 METERS AT COPALITO SILVER-GOLD PROJECT, MEXICO

Kootenay Silver Inc. has release assay results from three new drill holes at the Copalito silver-gold project in Sinaloa state, Mexico. These are the second, third and fourth core holes to be announced since the restart of the 3,000-metre 2020 drill campaign designed to target high-grade silver and gold showings of the six principal veins exposed at surface on the property.

James McDonald, president and chief executive officer of Kootenay, stated: "Encountering high silver grades so early in the inaugural drill program at Copalito is very exciting. We are optimistic about the potential of both Copalito and Columba hosting high-grade silver resources to add to our existing silver equivalent resource base of 144 million ounces in the measured and indicated category plus 35.7 million ounces in the inferred category at our La Cigarra and Promontorio properties. These projects represent a very strong portfolio of silver projects for the company and shareholders as we enter a higher silver price environment."

Holes BDH-20-002 to BDH-20-004 tested the 5 Senores vein located in the southern area of the property. These holes, along with the previously released BDH-20-001 (see the company's news release dated June 16, 2020), show good continuity for at least 500 metres of strike length along 5 Senores. In addition, drilling has shown high-grade mineralization matching up with the promising results garnered from surface sampling.

Two holes contained particularly exciting results. At a shallow depth hole BDH-20-004 intercepted 2,830 grams per tonne silver with 0.145 g/t gold over one metre within 3.2 metres of 1,297 g/t silver and 0.285 g/t gold, all within 13.1 metres of 347 g/t silver and 0.216 g/t gold. BDH-20-002 hit 10.3 metres of 80 g/t silver and 0.905 g/t gold including 1.7 metres of 3.2 g/t gold beginning at a depth of 42 metres.

Highlights from BDH-20-002 to BDH-20-004

BDH-20-002:

  • 118 g/t silver and 0.346 g/t gold over 6.0 metres includes:
    • 1.69 g/t gold over 4.3 metres and 3.02 g/t gold over 1.7 metres.

BDH-20-004:

  • 2,830 g/t silver and 0.145 g/t gold over 1.0 metres within:
    • 1,297 g/t silver and 0.285 g/t gold over 3.2 metres;
    • 347 g/t silver and 0.216 g/t gold over 13.1 metres within the 5 Senores vein; this interval encapsulates the first two highlights.

Hole BDH-20-005, drilled beneath BDH-20-004, hit a calcite breccia along the vein projection and is interpreted to be fault offset.

                         DETAILED DRILL RESULTS FROM BDH-20-001 TO BDH-20-004
   
Hole ID             From           To       Interval       Silver           Gold     Silver equivalent
                (metres)     (metres)       (metres)        (g/t)          (g/t)                 (g/t)

BDH-20-001             8           64           56.0         58.0              -                    58
including             29           51           22.0        106.0              -                   106
including             29           32            3.0        244.0           1.09                   342
including             46           51            5.0        250.0          0.247                   272
BDH-20-002            42        52.25           10.3         80.0          0.905                 161.5
including             42           48            6.0        118.0          0.346                 149.1
including             48        52.25            4.3         26.7           1.69                 178.8
including           50.6        52.25            1.7          3.0           3.02                 274.8
BDH-20-003            31         38.1            7.1         29.7          0.307                 57.33
including             33           37            4.0         33.8          0.516                 80.24
including             34           35            1.0         40.0           1.18                 146.2
BDH-20-004         20.82        21.25            0.4        146.0              -                     -
BDH-20-004            41           42            1.0        100.0              -
BDH-20-004            54         67.1           13.1        347.0          0.216                366.44
including          57.78           61            3.2      1,297.0          0.285              1,322.65
including             60           61            1.0      2,830.0          0.145               2,843.1

Note 
Silver equivalent based on 90:1 (silver-to-gold ratio).                                         
 

Mineralization occurs in both classically banded quartz veins (plus/minus calcite) and silicified breccia within the vein structures accompanied by 2 to 5 per cent disseminated pyrite in chlorite-altered wall rocks. Sulphides in veins include pyrite, galena and sphalerite.

The strategy is to put a few holes into each of the principal outcropping veins to establish which are most promising for hosting high-grade deposits and then test those areas with a larger follow-up program. Thus, drilling will continue to systematically move from one outcropping vein set to another with the objective of establishing vein geometry (strike and dip), grades and widths and finding veins not exposed at surface. Most holes are quite shallow in this first phase.

Results will continue to be released as assays are received and interpreted by the company. To date approximately 1,600 metres of the 3,000-metre program has been completed.

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 James McDonald, PGeo, president, chief executive officer and director for Kootenay, a qualified person.

Sampling and quality assurance/quality control

All technical information for the Copalito exploration program is obtained and reported under a formal quality assurance and quality control program. Samples are taken from core cut in half with a diamond saw under the direction of qualified geologists and engineers. Samples are then labelled, placed in plastic bags and sealed with interval and sample numbers recorded. Samples are delivered by the company to ALS Minerals in Hermosillo, Sonora. The samples are dried, crushed and pulverized with the pulps being sent via air freight for analysis by ALS in North 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 inductively coupled plasma four-acid digestion, with gold analysis by 30-gram fire assay with an AA (atomic absorption) finish. All drilling reported is HQ core and has been contracted to Globexplore Drilling from Hermosillo, Mexico.

About Kootenay Silver Inc.

Kootenay Silver 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 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 the states of Sonora, Sinaloa and Chihuahua, Mexico, respectively.

We seek Safe Harbor.

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