VANCOUVER, British Columbia, April 3, 2017 /PRNewswire/ --
RESULTS INCLUDE 529 GPT SILVER OVER 7.5 METERS WITHIN 194 GPT SILVER OVER 40.8 METERS
Kootenay Silver Inc. (TSXV: KTN) (the "Company" or "Kootenay") is pleased to announce drilling has returned more high-grade silver intercepts from the remaining 6 holes of the 2016 drill program conducted and operated by Pan American Silver Corp. ("Pan American Silver") on its La Negra silver discovery within the Promontorio project located in Sonora, Mexico. The definition drill program on La Negra is part of an option agreement between Kootenay and Pan American Silver that provides Kootenay with a series of work and cash commitments and a carried to production interest on Promontorio. Of the 6 drill holes reported in this release four were drilled into the La Negra Breccia with 2 into a target south of the breccia. Pan American Silver is scheduled to recommence drilling in late June-early July 2017.
Kootenay President and CEO James McDonald states, "We are very pleased with results from the final holes of our 2016 drilling program on La Negra with Pan American Silver. The consistent confirmation of multiple zones of high-grade silver mineralization within a 600-meter strike length of the breccia, remaining open at depth, supports further work on the Promontorio/La Negra project. Upcoming exploration and drilling by Pan American Silver will focus on defining the potential size of the magmatic hydrothermal silver-lead breccia and testing additional targets."
Drill highlights include:
- LN-67-16 returning 121 gpt silver over 47.1 meters including 582 gpt silver over 2.55 meters
- LN-68-16 returning 194 gpt silver over 40.85 meters including 529 gpt silver over 7.5 meters and 90 gpt silver over 10.65 meters including 137 gpt silver over 5.55 meters
- LN-69-16 returning 98 gpt silver over 59.25 meters including 378 gpt silver over 3.65 meters
Click to view: Drill plan and cross sections.
A summary of the infill drilling within the mineralized zone is provided in the table below.
Silver Gold Copper Lead Zinc Drill hole From To Interval gpt gpt ppm ppm ppm Breccia LN-67-16 26.2 73.3 47.1 121 0.11 189 2630 59 LN Bx Principal Incl. 37.3 50.35 13.05 216 0.18 93 1411 58 LN Bx Principal incl. 37.3 38.8 1.5 458 0.39 91 1032 86 LN Bx Principal Incl. 47.8 50.35 2.55 582 0.14 47 2113 31 LN Bx Principal incl. 49.3 50.35 1.05 973 0.19 65 3012 34 LN Bx Principal LN-68-16 1 41.85 40.85 194 0.06 172 4070 299 LN Bx Principal Incl. 2.4 14.05 11.65 441 0.08 367 10318 426 LN Bx Principal incl. 6.55 14.05 7.5 529 0.09 298 7446 312 LN Bx Principal Incl. 6.55 8.05 1.5 784 0.08 384 9400 377 LN Bx Principal incl. 12.55 14.05 1.5 1613 0.24 553 3765 290 LN Bx Principal Incl. 28.7 30.2 1.5 772 0.12 106 1872 226 LN Bx Principal 91.5 102.15 10.65 90 0.09 421 8822 34 LN Bx Principal Incl. 96.05 101.6 5.55 137 0.11 666 12645 35 LN Bx Principal LN-69-16 5.1 64.35 59.25 98 0.04 71 1759 100 LN Bx Principal Incl. 5.1 6.6 1.5 514 0.08 76 4950 79 LN Bx Principal incl. 35.7 49.4 13.7 189 0.08 63 1506 65 LN Bx Principal Incl. 45.75 49.4 3.65 378 0.13 88 2529 33 LN Bx Principal incl. 48.1 49.4 1.3 602 0.18 112 2378 26 LN Bx Principal LN-70-16 119.75 1 20.45 0.7 85 0.64 244 37300 729 LN Bx Principal 136.05 137.25 1.2 121 0.03 241 880 874 LN Bx Principal 254.7 256.25 1.55 68 0.02 193 132 112 LN Bx Inferior
Drill holes LN 71 and LN 72 drilled a target a few hundred meters south of the La Negra Breccia returned no significant results.
Pan American Silver 2016 Program
Pan American Silver began managing the exploration program in April 2016 and commenced re-logging drill core, geological mapping and re-interpretation, and completed 62 km of magnetic ground surveys. Pan American Silver initiated a 3,500-meter drilling program in July 2016 with the objective of infilling the Kootenay operated La Negra drill program with coverage to 50 meter centres and testing the along-strike and down dip extents, as well as following up on geophysical and geological anomalies located elsewhere within the Promontorio concessions.
Pan American Silver reported that a series of deeper infill drill holes from the first 12 holes of the 2016 program confirmed high-grade results from previous drilling conducted by Kootenay on La Negra (See Kootenay News release October 25, 2016) as well as the presence of a second breccia zone further to the south, which currently remains open at depth. Based on the initial success Pan American Silver extended the drill program by an additional 2000 meters.
Drilling on the subsequent 13 holes of the program returned consistent high-grade silver results at depth. (See Kootenay News release February 15, 2017). The latest 4 holes mark the completion of the 2016 drill program on La Negra with an approximate total of 6800 meters of drilling and in 31 holes.
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.
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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at April 2, 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.
James McDonald, CEO and President at +1-403-880-6016; Ken Berry, Chairman at +1604-601-5652; +1-888-601-5650 or visit: http://www.kootenaysilver.com
SOURCE Kootenay Silver Inc.