VANCOUVER, BC, June 27, 2024 /PRNewswire/ - 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.
(CNW Group/Kootenay Silver Inc.)
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
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.
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.
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.
