VANCOUVER, BC, Oct. 27, 2020 /CNW/ - Kootenay Silver
Inc. (TSXV: KTN) (the "Company" or "Kootenay") is
pleased to announce results from the first ever drill program (the
"Program") completed at the Copalito Silver-Gold Project in
Sinaloa, Mexico. A total of 4,153
meters, increased from the originally planned 3,000 meter Program,
over 40 drill holes. Reported in this release are holes 5 to 33
with holes 1 to 4 previously announced in July 2020, highlighted by hole BDH-20-004
intercepting 3.2 meters of 1,297 gpt silver and 0.285 gpt gold (see
news release dated July 22,
2020).
The objective of the first Program was to drill a number of
holes into each of the known vein structures to determine grade,
continuity potential and build a prioritized inventory of veins.
The Program successfully verified the existence and continuity of
mineralized gold and silver veins at the project, where there is no
evidence of modern exploration. Results demonstrate several areas
having potential to host high grade deposits that will be the focus
of follow up drilling.
Results of forty short holes, averaging approximately 100 meters
a hole, targeting a range from 50 to 184 meters in depth, confirm
that gold and silver mineralization continue at depth. This
mineralization is associated with a significant percent of other
elements including lead, zinc and copper, which provide an
important addition to the precious metals. The best intersections
are related to dilation zones, "mineralized shoots", within the
veins of the low sulphidation system.
Luis Moya, Chief Exploration
Geologist for Kootenay, states "The mineral is related to
tabular shaped veins with high-grade bodies or mineralized shoots
inside the veins. The location, geometry, trend, and plunge of
those bodies is key. Several holes have already hit what we hope
are high-grade mineralized bodies. The follow up drill program
aided by detailed mapping and structural mapping will help
determine continuity, grade and size of these areas."
James McDonald, President and
CEO of Kootenay, adds "These holes set the stage for an
exciting follow up drill program testing the extension and
continuity of the high-grade areas. In addition to silver
significant gold values up to 7 gpt have now been hit in drilling
along with lead plus zinc of over 13% and copper to 1.2%. As we
look forward to results from the remaining 7 holes detailed mapping
is underway to efficiently target the high-grade zones in the
follow up program."
Highlights of assays completed from holes BDH-20-005 to
BDH-20-033 are reported below:
BDH-20-009
- 95.4 gpt silver Equivalent ("AgEq"); 63 gpt silver, 0.15 gpt
gold and 0.47% lead + zinc ("Pb+Zn") over 18.0 meters
includes:
-
- 1,047 gpt AgEq; 936 gpt silver, 0.29 gpt gold and 3.31%
Pb+Zn over 1 meter.
BDH-20-015
- 110.60 gpt AgEq over 7.0 meters with 1.2% Pb+Zn, includes:
-
- 394 AgEq.; 51 gpt silver, 2.28 gpt gold, 6.18 % Pb+Zn over
1.2 meters.
BDH-20-022, with copper mineralization
- 431.43 gpt AgEq; 307 gpt silver, 0.154 gpt gold, 0.15% Pb+Zn
and 1.27% Cu over 0.7 meters
BDH-20-025
- 24.8 gpt AgEq over 11.3 meters with 0.15 %Pb+Zn, includes:
-
- 242 gpt AgEq, 209 gpt silver, 0.196 gpt gold and 0.67 %
Pb+Zn over 0.4 meters.
BDH-20-031
- 205.25 gpt AgEq; 45 gpt silver, 0.86 gpt gold 3.46 % Pb+Zn
over 1.2 meters.
BDH-20-033
- 215.27 gpt AgEq; 101 gpt silver, 0.7 gpt gold, 2.28 % Pb+Zn
over 2.7 meters includes
-
- 1209.59 gpt AgEq; 59 gpt silver, 7.05 gpt gold, 13.55 %
Pb+Zn over 0.2 meters.
High grades were also encountered in the first 4 holes released
most notably BDH-20-04 which hit 379 gpt AgEq (347 gpt
silver, 0.216 gpt gold and 0.56% lead+zinc) over 13.1
meters including 2,897 gpt AgEq (2,830 gpt silver, 0145 gpt
gold and 2.1% lead+zinc).
Follow links to plan map and drill sections.
Results from the final seven holes will be released after the
assays are received, compiled, and interpreted by the
Kootenay team.
Detailed Drill Results – Holes BDH-20-005 to
BDH-20-029
Hole
ID
|
From (meters)
|
To
(meters)
|
Interval
(meters)
|
Silver (gpt)
|
Gold (gpt)
|
Lead+
Zinc
(%)
|
Copper (%)
|
Silver
Eq (gpt)
|
BDH-20-005
|
115
|
126
|
11.0
|
6.7
|
0.108
|
0.40
|
-
|
26.12
|
includes
|
117.4
|
122
|
4.6
|
6.2
|
0.134
|
0.40
|
-
|
27.81
|
BDH-20-006
|
1.5
|
3.05
|
1.55
|
303.0
|
0.063
|
0.14
|
-
|
311.67
|
and
|
27
|
36.96
|
9.96
|
25.0
|
0.061
|
0.19
|
-
|
34.81
|
and
|
66
|
68
|
2.0
|
99.0
|
0.258
|
1.16
|
-
|
150.44
|
BDH-20-007
|
13
|
27
|
14.0
|
11.5
|
0.051
|
0.15
|
-
|
19.64
|
includes
|
24
|
25
|
1.0
|
57.0
|
0.082
|
0.32
|
-
|
71.35
|
BDH-20-008
|
56
|
58
|
2.0
|
35.0
|
0.006
|
0.07
|
-
|
37.24
|
and
|
68
|
69
|
1.0
|
56.0
|
0.111
|
0.75
|
-
|
84.45
|
BDH-20-009
|
33
|
51
|
18.0
|
63.0
|
0.153
|
0.74
|
-
|
95.41
|
includes
|
33
|
34
|
1.0
|
936.0
|
0.294
|
3.31
|
-
|
1,047.82
|
and
|
49
|
50
|
1.0
|
40.0
|
1.01
|
1.39
|
-
|
157.08
|
BDH-20-010
|
No Significant
Values
|
BDH-20-011
|
No Significant
Values
|
BDH-20-012
|
6
|
11
|
5.0
|
11.0
|
0.171
|
0.26
|
-
|
31.35
|
BDH-20-013
|
14
|
43
|
29.0
|
14.0
|
0.165
|
0.20
|
-
|
32.37
|
Includes
|
31
|
33
|
2.0
|
55.0
|
0.591
|
0.42
|
-
|
112.64
|
and
|
61
|
64.5
|
3.6
|
9.9
|
0.236
|
0.56
|
-
|
43.09
|
and
|
71
|
72
|
1.0
|
10.0
|
0.59
|
0.26
|
-
|
63.22
|
and
|
82
|
84.6
|
2.6
|
50.0
|
0.322
|
1.64
|
-
|
119.57
|
BDH-20-014
|
57
|
62.5
|
5.5
|
27.0
|
0.267
|
0.67
|
-
|
66.33
|
Includes
|
59
|
59.9
|
0.9
|
42.0
|
0.434
|
2.07
|
-
|
132.61
|
and
|
62.5
|
96
|
33.5
|
4.8
|
0.103
|
0.03
|
-
|
13.79
|
Includes
|
93.8
|
94.2
|
0.4
|
36.0
|
1.06
|
0.01
|
-
|
120.10
|
BDH-20-015
|
50
|
57
|
7.0
|
40.0
|
0.482
|
1.2
|
-
|
110.60
|
Includes
|
54.9
|
56.1
|
1.2
|
51.0
|
2.28
|
6.18
|
-
|
394.11
|
BDH-20-016
|
66
|
72
|
6
|
1.5
|
0.116
|
0.576
|
-
|
26.65
|
BDH-20-017
|
40
|
45
|
5.0
|
12.0
|
0.19
|
1.32
|
-
|
60.51
|
Includes
|
41.15
|
42.1
|
1.0
|
27.0
|
0.413
|
4.67
|
-
|
176.12
|
BDH-20-018
|
58
|
67
|
9.0
|
4.0
|
0.427
|
0.43
|
-
|
45.61
|
Includes
|
63.8
|
66
|
2.2
|
10.9
|
1.07
|
0.54
|
-
|
110.09
|
BDH-20-019
|
22
|
40
|
18.0
|
9.6
|
0.203
|
0.20
|
-
|
31.14
|
Includes
|
26
|
32
|
6.0
|
15.0
|
0.27
|
0.33
|
-
|
45.38
|
BDH-20-020
|
33
|
40
|
7.0
|
3.0
|
0.262
|
0.29
|
0.0025
|
31.94
|
Includes
|
35.6
|
36.3
|
0.7
|
21.0
|
0.739
|
1.62
|
0.0120
|
125.32
|
BDH-20-021
|
7
|
12
|
5.0
|
4.4
|
0.126
|
0.04
|
0.085
|
22.78
|
Includes
|
7
|
8
|
1.0
|
3.0
|
0.453
|
0.034
|
0.016
|
41.17
|
Includes
|
11
|
12
|
1.0
|
22.0
|
0.085
|
0.06
|
0.376
|
62.53
|
BDH-20-022
|
15
|
24
|
9.0
|
28.3
|
0.13
|
0.058
|
0.125
|
50.82
|
Includes
|
18.3
|
19
|
0.7
|
307.0
|
0.154
|
0.15
|
1.270
|
431.43
|
BDH-20-023
|
7.9
|
11
|
3.1
|
6.8
|
0.166
|
0.03
|
0.126
|
31.53
|
BDH-20-024
|
22
|
26
|
4.0
|
3.0
|
0.28
|
0.028
|
-
|
25.93
|
and
|
40
|
48
|
8.0
|
1.8
|
0.122
|
0.028
|
-
|
12.19
|
BDH-20-025
|
4
|
15.25
|
11.3
|
14.7
|
0.076
|
0.151
|
-
|
24.80
|
Includes
|
6.65
|
7
|
0.4
|
209.0
|
0.196
|
0.672
|
-
|
242.04
|
and
|
18
|
20
|
2.0
|
4.0
|
0.134
|
0.05
|
-
|
15.94
|
and
|
61.48
|
61.88
|
0.4
|
27.0
|
0.226
|
0.123
|
-
|
48.09
|
BDH-20-026
|
12.1
|
15
|
2.90
|
14.0
|
0.22
|
0.028
|
0.071
|
41.80
|
includes
|
14.05
|
14.25
|
0.20
|
38.0
|
0.45
|
1.04
|
0.200
|
116.09
|
BDH-20-027
|
No Significant
Values
|
BDH-20-028
|
11
|
14.4
|
3.40
|
20.0
|
0.20
|
1.32
|
-
|
70.50
|
BDH-02-030
|
|
|
|
|
|
|
-
|
|
BDH-20-031
|
15.2
|
20.05
|
4.85
|
14.0
|
0.22
|
0.028
|
-
|
34.39
|
and
|
22
|
24.4
|
2.40
|
2.0
|
0.20
|
0.01
|
-
|
17.71
|
and
|
26
|
31.3
|
5.30
|
29.9
|
0.40
|
0.25
|
-
|
68.52
|
and
|
56.8
|
59.3
|
2.50
|
34.0
|
0.88
|
1.80
|
-
|
151.78
|
includes
|
56.8
|
58
|
1.20
|
45.0
|
0.86
|
3.46
|
-
|
205.25
|
BDH-20-032
|
No Significant
Values
|
BDH-20-033
|
90.4
|
93.1
|
2.70
|
101.0
|
0.689
|
2.28
|
-
|
215.27
|
Includes
|
92.9
|
93.1
|
0.20
|
59.0
|
7.05
|
13.55
|
-
|
1,209.59
|
* Silver
equivalent based $24/oz silver $1900/oz gold, $1/lb zinc, $0.8/lb
lead
|
|
Note: Estimated
true widths range from 85 to 90% of drilled widths depending on dip
of the vein and inclination of the hole. All silver composites
rounded to the nearest whole number.
|
Drilling Discussion
Drilling tested 7 of 9 known veins along a cumulative strike
length of 2,500 meters of an estimated 10,000 meters of vein
length. Mineralized vein widths in drill hole varied from
less than one meter to 56 meters. The deepest intercept was 123
meters below surface and graded 0.689 gpt gold, 101 gpt silver, and
2.28% lead plus zinc over 2.7 meters including 7.0 gpt gold, 59 gpt
silver and 13.55% lead plus zinc over 0.2 meters.
Although there is continuity laterally and to depth, the grade
is variable and the structural complexity requires closer holes to
delineate the geometry and continuity of high-grade bodies.
Sampling in old mine dumps (Agua Vein) with discarded
material, grades of up to 7.2 gpt gold and 303 gpt silver were
observed, which shows the presence of mineral areas with better
grades. Similar values were intersected in other veins (Pilar
vein) with 7.05 gpt gold, 59 gpt silver and 13.55 % lead +
zinc.
The presence of lead and zinc sulfides (up to 6.18%) and copper
(up to 1.27%) increases the silver equivalent values obtained on
the property.
Some of the higher-grade shoots detected with the drill
program are related to changes in the direction of the veins that
create a dilational open space to host mineralization.
Geologic Description
The project is located in a regional graben NW-SE called the
"San Jose Fault" that extends more than 30 kilometers. The veins
are hosted in the west border of the graben in the "lower
cretaceous aged" volcanic sequence of andesites against a
Jurassic-lower cretaceous unit of volcanic-sediment with
shales-hornsfel beds.
The quartz-chalcedony veins with crustiform-colloform texture,
calcite veins, weak alteration of the host rock, barite and areas
of bladed calcite indicate the upper part of the
epithermal system. The occurrence of multiples veins and
breccias with cross cutting relationships show the evolution of a
hydrothermal system, with a long history of multiple events. The
mineralization is hosted mainly in the formal tabular shape veins
and leaking to areas of stock works in weak permeable rocks.
About Copalito Silver-Gold Project
The Copalito Project is a classic low sulphidation epithermal
vein system which has numerous small old workings and no evidence
or reports of historic exploration drilling. The Property consists
of seven concessions totaling approximately 3,700 hectares and is
located 35 kilometers east of McEwen Mining's "El Gallo Mine"
complex in Sinaloa State, along the western fringes of the Sierra
Madre Occidental in northwestern Mexico. The Copalito Project has good access,
topography and infrastructure.
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.
Sampling and QA/QC
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 labeled, placed in
plastic bags, sealed and with interval and sample numbers recorded.
Samples are delivered by the Company to ALS Minerals ("ALS") 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.
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 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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS:
The information in this news release has been prepared as at
October 26, 2020. 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.
2020 number 20
SOURCE Kootenay Silver Inc.