VANCOUVER, British Columbia, April 11, 2018 /PRNewswire/ --
Kootenay Silver Inc. (TSXV: KTN) (the "Company" or "Kootenay") is pleased to announce initial results from its current drill program on its La Cigarra silver project in Chihuahua, Mexico has successfully extended silver mineralization for 1000 meters to the northwest beyond the current 2.4-kilometer-long NI- 43-101 Resource envelope, along what is known as the La Borracha Zone. A total of seven broadly spaced holes were drilled across the La Borracha Zone with all seven holes hitting the mineralized structure, with the two highest grading holes being the two holes furthest from the resource. Six of the seven holes are reported herein with the seventh awaiting assay results.
Kootenay President and CEO James McDonald states, "We are very excited that drilling has extended silver mineralization for a full 1000 meters northwest of the La Cigarra resource. We are particularly enthused with holes 42 and 43, which are situated furthest from the resource boundary and carry the best grades indicating excellent potential for further resource expansion on strike. Moreover, the mineralization is shallow and projects to surface indicating potential for these intercepts to fall within an open pit shell. We look forward to providing further results from the current drill program as assays are received and compiled."
- 437.08 gpt silver over 10.0 meters within 267.07 gpt silver over 17.0 meters; includes samples of 947 gpt silver over 0.67 meters, 1755 gpt silver over 0.87 meters, 519 gpt silver over 1.0 meter and 1145 gpt silver over 1.0 meter.
- 144.05 gpt silver over 10.0 meters within 112.00 gpt silver over 16.0 meters and 61.8 gpt silver over 34.50 meters
- 102.80 gpt silver over 3.55 meters within 40.17 gpt silver over 22.0 meters
The mineralized structure is open along strike to the northwest as well as down dip. The results indicate the mineralized structure is continuous with the resource for an additional 1000 meters of strike to the northwest, it varies in width from about 15 to 45 meters and has been tested from surface down dip from between 50 meters and 150 meters. Full results are in the following table below. Click here to view a plan map.
La Borracha Zone Drill Results:
From To Interval Silver Gold Pb Zn Hole ID (meters) (meters) (meters)[(1)] (gpt) (gpt) (%) (%) CC-17-37[(2)] 78 93 15 42.06 0.04 0.238 0.205 Including 84 93 9 52 0.041 0.213 0.257 CC-17-37 107 138 31 45.75 0.041 0.256 0.189 Including 111 119 8 107.12 0.0445 0.587 0.296 CC-17-37 132 138 6 27.16 0.056 0.047 0.112 CC-18-38 123 145 22 40.17 0.035 0.328 0.394 Including 134 145 11 55.63 0.04 0.439 0.488 Including 139.45 143 3.55 102.83 0.033 0.946 0.914 CC-18-39 56 63 7 17.04 0.033 0.097 0.342 CC-18-40 45 58 13 20.92 0.023 0.099 0.181 CC-18-41 42 56 14 31.5 0.03764 0.176 0.092 Including 42 44 2 89.5 0.034 0.183 0.095 Including 48 50 2 91 0.037 0.692 0.404 CC-18-41 105 106.92 1.92 278 0.064 0.045 0.031 CC-18-42 61 78 17 267.07 0.01829 0.242 0.338 Including 63 76 13 345.56 0.022 0.296 0.382 Including 63 73 10 437.08 0.027 0.339 0.359 CC-18-43 100.5 135 34.5 61.81 0.01223 0.119 0.337 Including 113 129 16 112.05 0.01 0.199 0.521 Including 115 125.22 10.22 144.05 0.011 0.252 0.616 (1) True widths cannot be accurately determined from the information available at this time therefore core lengths are reported. (2) Previously released. See news release dated January 23, 2018.
Drilling has now started on the exciting newly discovered Nogalera Gold Zone where multi-gram gold has been found within a mineralized structure for at least one kilometer and remains open along strike. The first drill holes at Nogalera will test the southern 400 meters of the structure where previous sampling returned numerous multi-gram gold grades of up to 12.35 gpt gold and 179 gpt silver. See news release dated February 7 for more information.
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 or NQ core and has been contracted to BD Drilling from Guadalajara, Mexico.
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.
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 April 10, 2018. 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.
CEO and President
SOURCE Kootenay Silver Inc.