VANCOUVER, Aug. 30, 2017 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") is pleased to
announce results from hole CC-17-28 drilled to test the extension
of a large new mineralized zone recently discovered in the Venadas
target area on its La Cigarra Silver project in Chihuahua State,
Mexico.
The Company reports assays from hole CC-17-28 returned a series
of good grading silver intercepts, extending the new discovery zone
140 meters northeast of original discovery hole CC-17-26.
The weighted average intervals are:
Hole CC-17-28
- 168.64 gpt silver over 7.0 meters, within
- 121.25 gpt silver over 12.0 meters and
- 92.88 gpt silver over 24.20 meters
All intervals are core length as the strike, dip and shape of
the zone and thus true widths are unknown at this time.
The strength and intensity of brecciation, veining and
alteration observed in hole CC-17-28 is consistent with discovery
hole CC-17-26, which bottomed in veining. Textures are indicative
of a variant of an epithermal hydrothermal breccia complex. The new
discovery zone is contained within the project's Venadas target
area 1000 meters south of La Cigarra's established NI 43-101
resource. To view a set of maps click on the following link: Las
Venadas Plan and Cross Sections Maps.
Kootenay President and CEO James
McDonald states, "The grades and characteristics of
mineralization encountered 140 meters away from hole CC-17-26
further supports the large-scale nature and potential continuity of
the new zone. We are looking forward to further drill testing of
this exciting new discovery."
The results represent only the upper part of the zone, as the
hole was unable to drill further due to encountering faulted rock.
Accordingly, it is believed the larger and stronger part of the
system remained untested by the hole. In hole CC-17-26 more than
250 meters of veining, vein breccia was encountered right to the
bottom of the hole with the stronger part of the zone toward the
bottom of the intercept.
The intercept is 140 meters northeast of CC-17-26 and 62 meters
deeper establishing some meaningful extent to the zone in just the
second hole.
New Discovery Zone Proximity:
The new discovery zone is contained within La Cigarra's Venadas
target, which comprises a broad area of alteration and
mineralization containing various different structures with
vein-breccia, veins and veinlets, over an area measuring 500 by 800
meters. It is part of a trend of distinct mineralized structures,
extending from La Borracha to the southward through the La Cigarra
deposit (which includes the San
Gregorio and Las Carolinas
zones) into Las Venadas and further into Soledad and Los Chinos, over a distance of 6
kilometers.
Upcoming Drilling and Development:
Drilling will now move back to site CC-17-26, which bottomed in
mineralization after drilling over 250 meters of veining, vein
breccia. A shallower hole will be drilled from this site to finish
testing the full extent of mineralization not tested in CC-17 26
and to provide a third intercept into the new zone which will aid
in determining its shape needed to design further drilling. Once
determined a drill program will be finalized for immediate and
aggressive follow up drilling.
Sampling and QA/QC
All technical information for the La Cigarra 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. Samples are then labeled placed in plastic bags, sealed
and with interval and sample numbers recorded. Samples are
delivered by the Company via courier to ALS Minerals ("ALS") in
Chihuahua. 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 will
be with HQ core and has been contracted to BD Drilling from
Guadalajara, Mexico.
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 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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS:
The information in this news release has been prepared as at
August 29, 2017. 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.