Highlights include 1,070 gpt Silver over 0.9
meters within 516 gpt Silver over 2.9 meters and 408 gpt
Silver over 4.85 meters within 33.5 Meters of 112 gpt
Silver
VANCOUVER, Aug. 29, 2019 /CNW/ - Kootenay Silver
Inc. (TSXV: KTN) (the "Company" or "Kootenay") is
pleased to announce assay results from four (4) additional holes
drilled on the Columba high-grade silver vein system in Chihuahua
State, Mexico. Drilling is ongoing with 16 holes completed to
date of a planned first phase 25 to 30-hole program.
Kootenay President and CEO James
McDonald states, "We are happy to see good high
grade now over a wide range of strike and depth along the F Vein.
Just as exciting are the high grades we are seeing in
previously unknown hanging-wall veins with assays up to 1,070 gpt
silver. The consistency of the known veins tested to date and the
newly discovered hanging-wall veins certainly increases our
confidence in the resource potential of the project".
Drilling Discussion and Highlights:
Three things of note thus far:
- The F Vein has returned high grades over good widths.
- The known veins are showing excellent continuity along strike
and to depth.
- Newly discovered veins in the hanging-wall also contain high
grades.
The F Vein is where historic work concentrated including two
shafts one to about 90 meters depth and the other to 200 meters
with 6 development levels. Click to see plan map and
longitudinal section.
The Company is working on understanding how the various hanging
wall veins correlate to one another.
In some cases, the F Vein and associated 'stockwork' is
substantially wider than the sampled intervals reported in historic
data which concentrated on the highest grades. Hole CDH 19-008, for
example, intercepted 33.5 meters of vein grading 112 gpt silver
with wider intervals also found in holes CDH 19-001, 002 and
006.
Drilling has now tested the F Vein along 400 meters of strike
and to depths as far as 250 meters vertically. This release reports
drilling as deep as 160 meters vertically in hole CDH 19-010.
See longitudinal section.
A total of 16 holes have now been completed and assays reported
on ten. Holes CDH 19-011 to 016 have all hit vein with CDH 19-011,
012 and 015 testing the F Vein as deep as 250 meters vertically and
CDH 19-013, 014 and 016 testing the I Vein at shallow depths. See
plan map. Drilling continues to systematically test the known veins
and assays will be reported once received and compiled.
CDH 19-007:
- Hanging Wall Vein: 417 gpt silver over 1.68
meters. Newly discovered vein.
- F Vein (historically worked): 693 gpt silver over 1.55
meters before hitting 3.0-meter mined stope.
CDH 19-008:
- F Vein: 707 gpt silver over 0.58 meters within 408 gpt
silver over 4.85 meters and 112 gpt silver over 33 meters.
- Footwall Vein: 148 gpt silver over 1.46 meters.
CDH 19-009:
- Hanging Wall Vein: 519 gpt silver over 2.90 meters
including 1,070 gpt over 0.90 meters. Newly discovered
vein.
- Hanging Wall Stockwork: 50 gpt silver over 10.40 meters
followed by a 3.0-meter mined stope or tunnel interpreted as the F
Vein.
CDH 19-010:
- Hanging Wall Vein: 200 gpt silver over 3.05 meters
intercepted immediately at surface. Newly discovered vein.
- Second Hanging Wall Vein: 42 gpt silver over 13.0 meters
with 97 gpt silver over 1.0 meter. Newly discovered vein.
- Hanging Wall Vein immediately above F vein: 112 gpt silver
over 2.0 meters
- F Vein: 338 gpt silver over 2.53 meters including 392
gpt silver over 1.60 meters
Detailed results of drill holes can be seen in the table
listed below:
Hole
ID
|
From
(meters)
|
To
(meters)
|
Interval
(meters)
|
Silver
gpt
|
Pb
%
|
Zn
%
|
Geologic
Intersection
|
CDH-19-007
|
110
|
111.68
|
1.68
|
417
|
N/A
|
0.125
|
Hanging Wall
Vein
|
|
149.45
|
151.00
|
1.55
|
693
|
0.428
|
1.13
|
|
151
|
154.00
|
3.00
|
N/A
|
N/A
|
N/A
|
Mined
Stope
|
CDH-19-008
|
19
|
52.50
|
33.50
|
112
|
N/A
|
N/A
|
Hanging Wall
Vein
|
Includes
|
42.45
|
47.30
|
4.85
|
408
|
0.695
|
1.08
|
F Vein
|
Includes
|
44.25
|
44.83
|
0.58
|
707
|
0.271
|
0.43
|
Includes
|
44.83
|
46.00
|
1.17
|
366
|
0.135
|
0.162
|
Includes
|
46
|
47.30
|
1.30
|
509
|
0.164
|
0.26
|
|
63.92
|
65.38
|
1.46
|
148
|
N/A
|
N/A
|
Footwall
Vein
|
CDH-19-009
|
145
|
147.90
|
2.90
|
516
|
N/A
|
0.206
|
Hanging Wall
Vein
|
Includes
|
147
|
147.90
|
0.90
|
1,070
|
0.0193
|
0.411
|
|
168
|
178.40
|
10.40
|
50
|
N/A
|
N/A
|
|
178.4
|
181.45
|
3.05
|
N/A
|
N/A
|
N/A
|
Mined
Stope
|
CDH-19-010
|
0
|
3.05
|
3.05
|
200
|
N/A
|
N/A
|
Hanging Wall
Vein
|
|
177
|
190.00
|
13.00
|
42
|
N/A
|
N/A
|
Altered
Intrusive
|
Includes
|
188
|
189.00
|
1.00
|
197
|
N/A
|
N/A
|
Hanging Wall
Vein
|
|
215
|
217.00
|
2.00
|
112
|
N/A
|
0.256
|
|
219
|
221.53
|
2.53
|
338
|
0.275
|
0.63
|
F Vein
|
Includes
|
219
|
220.60
|
1.60
|
391
|
0.293
|
0.72
|
All widths are
drilled widths. At this time, it is estimated true widths will
range from 60 to 80% 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 Kootenay by
James McDonald, P.Geo, President,
CEO & Director for Kootenay, a Qualified Person.
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
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 or NQ core and has been contracted to Globexplore
Drilling from Hermosillo,
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.
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 28, 2019. 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.