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Kootenay Silver Inc
Symbol KTN
Shares Issued 295,521,675
Close 2020-11-12 C$ 0.415
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Kootenay Silver drills 2.25m of 933g/t AgEq at Copalito

2020-11-12 08:15 ET - News Release

Mr. James McDonald reports

KOOTENAY INTERCEPTS 933 GPT SILVER EQUIVALENT OVER 2.25 METRES FROM FINAL DRILL-HOLES COMPLETED AT COPALITO SILVER-GOLD PROJECT, MEXICO

Kootenay Silver Inc. has provided results from the remaining seven holes of the 40-hole program totalling 4,153 metres at the Copalito silver-gold project, located in Sinaloa state, Mexico. These results are part of the first ever drill program at the property with previous results from the program announced in July and October, 2020.

Highlights from holes BDH-20-34 to BDH-20-40 include the following.

BDH-20-040 in the 5 Senores vein

  • 1,813 grams per tonne silver equivalent (Eq) over 0.51 metre consisting of 16.95 g/t gold, 369 g/t silver and 3.74 per cent lead plus zinc within:
    • 933 g/t silver Eq over 2.25 metres consisting of 6.65 g/t gold, 335 g/t silver and 2.6 per cent lead plus zinc;
    • 311 g/t silver Eq over 9.05 metres consisting of 2.09 g/t gold, 124 g/t silver and 0.795 per cent lead plus zinc.
  • This hole is one of the deepest vertical holes drilled to date at an elevation of about 600 metres above sea level.

BDH-20-039 in the 5 Senores vein

  • 213 g/t silver Eq over 3.3 metres consisting of 128.1 g/t silver, 0.66 g/t gold and 1.17 per cent lead plus zinc and 183.66 g/t silver Eq over 4.0 metres consisting of 109.6 g/t silver, 0.84 g/t gold and 0.26 per cent lead plus zinc within:
    • 93.78 g/t silver Eq over 27.4 metres consisting of 60.4 g/t silver, 0.28 g/t gold and 0.4 per cent lead plus zinc.

BD-20-037 in the 5 Senores vein

  • 1,260.81 g/t silver Eq over one metre consisting of 846 g/t silver, 3.11 g/t gold and 6.15 per cent lead plus zinc within:
    • 735.3 g/t silver Eq over 2.25 metres consisting of 483.8 g/t silver, 2.18 g/t gold and 2.86 per cent lead plus zinc and 211.48 g/t silver Eq over 10 metres consisting of 128.5 g/t silver, 0.655 g/t gold and 1.13 per cent lead plus zinc.

James McDonald, president and chief executive officer, states: "We are very pleased the first-ever drill program conducted on Copalito has shown excellent grade potential and continuity of vein structures. This indicates the potential for discovery and delineation of high-grade resources is good."

Luis Moya, chief geologist, comments: "After receiving the geochemical analyses of the last seven of 40 holes it can be concluded the drilling campaign ended successfully. The last holes establish continuity to depth and along strike with high-grade potential exhibiting values of up to 16.95 g/t gold and 846 g/t silver."

Drilling discussion

The drill program tested 4,153 metres along a classic Mexican epithermal vein system. A follow-up drill program will now be designed, the details of which will be released once complete. The follow-up program will be guided by detailed structural mapping and possibly geophysics.

The drill program also returned high-grade values from other previously released drill holes targeting such veins as the Pilar vein with gold values up to 7.05 g/t and 13.55 per cent lead plus zinc (BDH-20-33); the Chiva vein with silver values up to 936 g/t (BDH-20-09); and the Cobriza vein with silver values up to 307 g/t. The seven remaining holes, BDH-20-34 to BDH-20-40, focused on the Pillar and 5 Senores veins located within the southeast region of the property.

Along with previous drill holes, good continuity and grade potential have been shown for at least 600 metres of strike length along the 5 Senores vein. Previously released BDH-20-04 drilled into 5 Senores contained silver equivalent values up to 2,843 g/t. Grade highlights from drilling ranged to 2,830 g/t silver (BDH-20-04) and 16.95 g/t gold (BDH-20-40); see the company's news release dated July 22, 2020.

                         DETAILED DRILL RESULTS -- HOLES BDH-20-034 TO BDH-20-040
  
                  From        To     Interval       Silver         Gold    Lead+zinc         AgEq
Hole ID              m         m            m          g/t          g/t            %          g/t    Vein

BDH-20-034 No significant values                                                                     Pilar
BDH-20-035 No significant values                                                                     Pilar
BDH-20-036          19     27.55         8.55         14.8        0.269        1.365        72.36    Pilar
and              21.55      24.5         2.95         21.3        0.434        2.873       131.93
BDH-20-037        42.0      52.0        10.00        128.5        0.655        1.138       211.48    5 Senores
includes         45.75      48.0         2.25        483.8        2.187        2.865       735.30
includes          47.0      48.0         1.00        846.0         3.11         6.15     1,260.81
BDH-20-038 No significant values                                                                     5 Senores
BDH-20-039           0      4.55         4.55         94.9        0.023        0.162       101.20    5 Senores
and               15.0      42.4        27.40         60.4        0.282        0.406        93.78
includes          19.0      23.0         4.00        109.6        0.846        0.265       183.66
includes          31.0      34.3         3.30        128.1        0.664        1.174       213.00
BDH-20-040        26.0     35.05         9.05        124.0         2.09        0.795       311.00    5 Senores
includes          31.0     33.25         2.25        335.0         6.65        2.625       933.38
includes         32.12     32.63         0.51        369.0        16.95         3.74     1,813.00
and               43.0      55.2        12.20         24.0        0.411        1.004        83.81
includes          51.1     51.65         0.55         93.0         1.07         4.63       301.09
includes         53.55     54.59         1.04         32.0         1.52        3.394       245.00

* Silver equivalent based $24 per ounce silver, $1,900/oz gold, $1 per pound zinc and 80 cents/lb lead.
                                                                                                       
Note: Estimated true widths range from 85 to 90 per cent of drilled widths depending on dip of the vein and 
      inclination of the hole. All silver composites rounded to the nearest whole number.


  

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 (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 labelled, placed in plastic bags, sealed and 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 airfreight 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 ICP four-acid digestion, with gold analysis by 30-gram fire assay with an AA 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.

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