VANCOUVER, BC, Aug. 1, 2023
/CNW/ - Kootenay Silver Inc. (TSXV: KTN) (the "Company"
or "Kootenay") is pleased to announce continued progress
at the Columba project ("Columba"). Of the three land access
agreements due for renewal this year, two are now signed with a
third in the final stages of negotiation. Completion of these
agreements will provide Kootenay access to drill vein targets out
to the edges of the inferred mineralized system. During 2023
surface exploration has continued to refine targets, drilling is
anticipated to recommence upon completion of the land access
agreements.
Kootenay's President & CEO, Mr. James McDonald elaborates, "The ongoing surface
mapping and prospecting at Columba continues to increase our
understanding of this caldera hosted, silver-dominant epithermal
vein system. Our team continues to identify and refine extensions
of known mineralized veins and our work has also identified new
veins, as yet undrilled. The renewal of existing land access
agreements which provide framework for both exploration and
exploitation is an important step which will provide confidence as
we step out aggressively to find the outer extents of this
mineralized system."
To date Kootenay has completed 135 diamond drill holes at
Columba for a total 27,000 meters, testing a series of
northwest-southeast and northeast-southwest trending epithermal
quartz-calcite veins. The extensive vein sets have been mapped over
an area of approximately 4km x 4km.
The next phase of drilling will prioritize expanding the D Vein
where there are multiple high grade hits over wide intervals open
in both strike directions and to depth. Highlights of these
intercepts as previously released are shown below. The D Vein
intercepts to date indicate a mineralized shoot with the potential
to host a very significant number of silver ounces in one single
zone.
Total vertical extent of D Vein mineralization thus far is about
300 meters and open to depth. The D Vein is partially tested along
400 meters of strike and remains open.
Drill Highlights:
D Vein
CDH-21-110
- 453 gpt silver over 29.9 meters; including
- 650 gpt silver over 17.8 meters; including
- 932 gpt silver over 6 meters
- Intercept includes a high of 1,915 gpt silver over 0.85
meters
CDH-22-115
- Well mineralized zone averaging 449 gpt silver over 11.3 meters
from 81.1 meters downhole.
- Highest grade intercept 795 gpt silver, 0.95% lead and 1.47%
zinc over one meter.
- Extends vein mineralization 50 meters to west of nearest
intercept (CDH-19-021).
CDH-22-119
- 1,395 gpt silver over 1.5 meters within 416 gpt silver over
7.74 meters.
- Highest grade intercept 1,550 gpt silver and 0.95% lead and
4.5% zinc over 0.89 meters.
- 100-meter step out below CDH-22-115.
CDH-22-122
- Interval from 194.1 meters down hole averages 574 gpt
silver with 0.19% lead and 0.66% zinc over 3.9 meters.
- Extends D Vein additional 55m
beneath previously announced drill intercept (CDH-20-079).
- Highest individual assay grade of 956 gpt silver, 0.27% lead
and 1.20% zinc over 0.72 meters.
CDH-22-125
- 34.45 meters of 540 gpt silver with 0.26 gpt gold, 0.37%
lead and 1.56% zinc in a wide stockwork zone includes:
-
- 9.7 meters of 1,746 gpt silver, 0.88 gpt gold, 1.11 %
lead and 5.2% zinc in D Vein with;
- 5,840 gpt silver, 3.0 gpt gold, 3.08% lead and 17.25%
zinc over 2.45 meters, a project best intercept to date.
- Extends wide high grade 90 meters directly beneath
previously announced high grade intercept (CDH-21-110) with 17.8
meters of 650 gpt silver, 0.98% lead and 2.2% zinc within 29 meters
of 453 gpt silver, 0.6% lead and 1.43% zinc.
CDH-22-131
- 311 gpt silver over 4.86 meters within 150 gpt
silver over 16 meters.
- Extends D Vein 100 meters along strike to the southeast from
previous drilling.
- Marks high-level expression of mineralized system at D Vein, an
interpreted high-grade horizon preserved at depth.
Link to Drill Plan and Long Sections
1True widths
are estimated at between 65% an 85% of the downhole
lengths.
|
A comprehensive list of drill results completed on the Columba
Property since 2019 may be viewed here: Columba Drill Results.
Sampling and QA/QC at
Columba
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 from core cut in half
with a diamond saw under the direction of qualified geologists and
engineers. Samples are then labeled, placed in plastic bags, sealed
and with interval and sample numbers recorded. Samples are
delivered by the Company to ALS Minerals ("ALS") in Chihuahua. The
Company inserts blanks, standards and duplicates at regular
intervals as follows. On average a blank is inserted every 100
samples beginning at the start of sampling and again when leaving
the mineral zone. Standards are inserted when entering the
potential mineralized zone and in the middle of them, on average
one in every 25 samples is a standard. Duplicates are taken in the
mineralized zone, on average 1 to 2 duplicates for each hole.
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. All drilling
reported is HQ core and has been contracted to Globexplore Drilling
from Hermosillo, Sonora,
Mexico.
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.
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, 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.
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 prolific
mining districts in Sonora, State
and Chihuahua, State, Mexico,
respectively.
CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at
July 31, 2023. Certain statements in
this news release, referred to herein as "forward-looking
statements", constitute "forward-looking statements" under the
provisions of Canadian provincial securities laws. These statements
can be identified by the use of words such as "expected", "may",
"will" or similar terms.
Forward-looking statements are necessarily based upon a
number of factors and assumptions that, while considered reasonable
by Kootenay as of the date of such statements, are inherently
subject to significant business, economic and competitive
uncertainties and contingencies. Many factors, known and unknown,
could cause actual results to be materially different from those
expressed or implied by such forward-looking statements. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date made. Except as
otherwise required by law, Kootenay expressly disclaims any
obligation or undertaking to release publicly any updates or
revisions to any such statements to reflect any change in
Kootenay's expectations or any change in events, conditions or
circumstances on which any such statement is based.
Cautionary Note to US Investors: This news
release includes Mineral Reserves and Mineral Resources
classification terms that comply with reporting standards in
Canada and the Mineral Reserves
and the Mineral Resources estimates are made in accordance with
National Instrument 43-101 – Standards of Disclosure for Mineral
Projects ("NI 43-101"). NI 43-101 is a rule
developed by the Canadian Securities Administrators that
establishes standards for all public disclosure an issuer makes of
scientific and technical information concerning mineral projects.
These standards differ significantly from the requirements adopted
by the U.S. Securities and Exchange Commission (the
"SEC"). The SEC sets rules that are applicable
to domestic United States
reporting companies. Consequently, Mineral Reserves and Mineral
Resources information included in this news release is not
comparable to similar information that would generally be disclosed
by domestic U.S. reporting companies subject to the reporting and
disclosure requirements of the SEC. Accordingly, information
concerning mineral deposits set forth herein may not be comparable
with information made public by companies that report in accordance
with U.S. standards.
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SOURCE Kootenay Silver Inc.