VANCOUVER, BC, June 27,
2024 /CNW/ - Kootenay Silver Inc. (TSXV: KTN)
(the "Company" or "Kootenay") is pleased to announce
coring is underway with a second drill working at the Columba
Project, Chihuahua state, Mexico.
Current work is focused on extending known limits of "D-Vein"
and the second drill is positioned to complement this goal by
testing the southeastern extensions of "B-Vein" and "B2-Vein". The
second drill will work southeastward along the B-Vein trend toward
a priority target zone where surface mapping indicates "D -Vein"
and the "B-Vein" trends intersect.
The B-Vein trend lies along southeastern extension of the
"F-Vein" and contains well mineralized veins as evidenced by
previous intercepts. Drillhole CDH-20-0821
intercepted 4.6 meters averaging 1,186 gpt Ag from 184.5 meters
downhole and a follow up hole, CDH-21-1122 encountered
2.0 meters core length averaging 1,050 gpt Ag from 212 meters
downhole. True widths for both intercepts are estimated at 60-75%
of core length. No drilling has been undertaken on B-Vein since
2022
The current drilling program is designed to find the strike
extent of D-Vein mineralization in preparation of infill drilling
and a now fully funded follow up program of 20,000 meters, aimed to
delineate a maiden resource expected in late 2024. The second drill
will assist this goal initially before moving on to perform test
extensions of other known vein intercepts and also initial tests of
promising but as yet undrilled targets.
Kootenay's President & CEO, James
McDonald states, "We have completed over 30,000 meters of
drilling at Columba and are extremely excited to see the project
growing in size. We continue to step along D-Vein as a priority,
this structure with its high grade and broad
mineralized stockwork halo has the potential to contain a
significant resource. We are also eager to test our many undrilled
targets. The erosion profile at many of these veins has not exposed
the top of the mineralized horizon, we need to drill down to the
optimal elevation to really see what these structures
hold."
Drill results are compiled and released as batches, drill
highlights, maps and sections from the project are tabulated on the
Company's website at the links below
Click to view the drill plan, long section, and cross
sections.
The company has completed over 30,000+ meters of diamond
drilling in 153 holes at Columba since 2019 and intercepted
numerous veins with high silver grades and widths indicating
excellent resource potential. Prospective veins on the project are
hosted within a volcanic caldera setting, the surface extent of
mapped veins measuring roughly 4 kilometres by 3 kilometres.
Management believes that Columba may be a newly recognized vein
district that is nearly entirely preserved from erosion.
A comprehensive list of drill results completed on the Columba
Property since 2019 may be viewed here: Columba Drill Results.
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
Company inserts blanks, standards and duplicates at regular
intervals as follows. On average a blank is inserted every 100
samples beginning at the start of sampling and again when leaving
the mineral zone. Standards are inserted when entering the
potential mineralized zone and in the middle of them, on average
one in every 25 samples is a standard. Duplicates are taken in the
mineralized intervals at an average 2 duplicates for each hole.
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
reported is HQ core and was completed by Globextools, S.A. de C.V.
of Hermosillo, Sonora,
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.
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 Mr. Dale Brittliffe, BSc. P. Geol., Vice President, Exploration
of Kootenay Silver, is the Company's nominated Qualified Person
pursuant to National Instrument 43-101, Standards for Disclosure
for Mineral Projects, has reviewed the scientific and technical
information disclosed in this news release. Mr. Brittliffe is not
independent of Kootenay Silver.
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.
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 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
June 26, 2024. 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 includes Mineral Reserves and Mineral Resources
classification terms that comply with reporting standards in
Canada and the Mineral Reserves
and the Mineral Resources estimates are made in accordance with
National Instrument 43-101 – Standards of Disclosure for Mineral
Projects ("NI 43-101"). NI 43-101 is a rule
developed by the Canadian Securities Administrators that
establishes standards for all public disclosure an issuer makes of
scientific and technical information concerning mineral projects.
These standards differ significantly from the requirements adopted
by the U.S. Securities and Exchange Commission (the
"SEC"). The SEC sets rules that are applicable
to domestic United States
reporting companies. Consequently, Mineral Reserves and Mineral
Resources information included in this news release is not
comparable to similar information that would generally be disclosed
by domestic U.S. reporting companies subject to the reporting and
disclosure requirements of the SEC. Accordingly, information
concerning mineral deposits set forth herein may not be comparable
with information made public by companies that report in accordance
with U.S. standards.
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1 Previously released January 20,
2021. Drilled width with estimated true width previously estimated
at 70% of drilled.
2 Previously released December 16, 2021. Drilled
width with estimated true width previously estimated at 55% to 70%
of drilled.
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SOURCE Kootenay Silver Inc.