Shares Outstanding: 72,230,683
VANCOUVER, Jan. 22, 2015 /CNW/ - Kootenay Silver Inc.
(TSX VENTURE: KTN.V) ("Kootenay") is pleased to announce that
camp upgrades and drill targets are being finalized and work crews
are being mobilized for an upcoming Phase II drill program on its
Promontorio La Negra Silver discovery in Sonora, Mexico. An announcement of the
official start date of drilling will be forthcoming in the near
future.
States Kootenay President and CEO James
McDonald "We are very pleased to initiate plans for our
Phase II drill program on La Negra. The upcoming program will focus
on systematically building on the multiple high-grade silver
results and widespread silver mineralization returned from previous
surface sampling and Phase I drilling. The overall objective of the
Phase II drill program will be to begin determining the overall
size and extent of La Negra's contained silver with the goal of
producing an inaugural NI 43-101 resource estimate on the project
by mid year."
La Negra Silver Discovery
The La Negra Breccia discovery is situated approximately 6.5 kms
north of Kootenay's flagship Promontorio Silver Resource in
Sonora, Mexico and is contained
within a 25 x 15 km mineralized corridor, the 'Promontorio Mineral
Belt.' The upcoming Phase II drill program on La Negra follows a
successful Phase I drill program, which returned significant and
consistent intervals of high grade, widespread silver
mineralization extending from surface to depth, confirming a
substantial new silver discovery. (See news releases, 'Drill
Results' Oct. 15, 2014, Nov. 26, 2014 and Dec 3,
2014 for more details). The Phase I drill program was
led by a successful trenching and surface sampling program that
confirmed extensive silver mineralization over a large 100 to 200
meters by 500 meters area on surface. (See news releases from
May 28th and June 5th, 2014 for more details).
To View Full Results of Sampling and drill Program Visit:
www.kootenaysilver.com
QA/QC
Core is being detailed logged and sampled with half the core
being bagged, tagged, catalogued, sealed and sent to an accredited
assay lab for analysis. A quality control program including
blanks, standards and replicates is being used similar to that used
on the Promontorio drill program. Geotechnical data such as
recovery, RQD and density are being recorded also. All drilling has
been with HQ core and is being done by BD Drilling from
Guadalajara, Mexico. Further
Quality Assurance and Control procedures and details on assays
procedures and laboratories used are disclosed on the Kootenay
Silver Inc. website.
The foregoing geological disclosure has been reviewed and
verified by Kootenay's CEO, James
McDonald, P.Geo (a qualified person for the purpose of
National Instrument 43-101, Standards of Disclosure for Mineral
Projects). Mr. McDonald is a director of Kootenay.
ABOUT KOOTENAY
Kootenay Silver Inc. is actively developing mineral projects in
the Sierra Madre Region of Mexico
and in British Columbia, Canada.
Its flagship property is the former producing Promontorio Silver
mine in Sonora State, Mexico.
Kootenay's objective is to develop near term discoveries and
long-term sustainable growth. Its management and technical team are
proven professionals with extensive international experience in all
aspects of mineral exploration, operations and venture capital
markets. Multiple, ongoing J/V partnerships in Mexico and Canada maximize potential for additional, new
discoveries while maintaining minimal share dilution.
Neither 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.
Forward-Looking Statements: The
information in this news release has been prepared as at
January 21, 2015. 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 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.
This press release uses the terms "Measured", "Indicated",
and "Inferred" resources. United
States investors are advised that while such terms are
recognized and required by Canadian regulations, the United States
Securities and Exchange Commission does not recognize them.
"Inferred Mineral Resources" have a great amount of uncertainty as
to their existence, and as to their economic and legal feasibility.
It cannot be assumed that all or any part of an Inferred Mineral
Resource will ever be upgraded to a higher category. Under Canadian
rules, estimates of Inferred Mineral Resources may not form the
basis of feasibility or other economic studies. United States investors are cautioned not to
assume that all or any part of Measured or Indicated Mineral
Resources will ever be converted into Mineral Reserves.
United States investors are also
cautioned not to assume that all or any part of a Mineral Resource
is economically or legally
mineable.
SOURCE Kootenay Silver Inc.