VANCOUVER, BC, June 11, 2020 /CNW/ - Kootenay Silver Inc. (TSXV:KTN.V - News) (the "Company" or "Kootenay") is pleased to announce drilling has recommenced at its Copalito silver-gold property (the "Property") located in Sinaloa State, Mexico. This is the continuation of the initial drill program (the "Program") that began in March 2020, before operations were halted due to health restrictions imposed by the Government of Mexico in wake of the COVID-19 pandemic. One-hole totalling 105.2 meters of the planned 3,000-meter program was completed before the temporary work stoppage.
The Program is the first drilling to date on the Property and will test positive surface sampling and mapping. Notable surface samples previously reported include:
Grab Sample Highlights:
- 3,770 gpt silver and 7.2 gpt gold in taken at the 5 Senores and Agua Veins, respectively;
- 2,510 gpt silver and 2.7 gpt gold in grab samples taken at the Cobriza Vein;
- 17.45% zinc, 9.89% lead, 76 gpt silver and 0.52 gpt gold in a grab sample taken at Pillar Vein; and
- 5.1%, 1.6 % and 1.5% copper taken from the northern area of the Property at the Cobriza Vein
Chip Sample Highlights:
- 1,700 gpt silver including 0.109 gpt gold over 1.5 meters within a wider interval of 1,066 gpt silver over 3.8 meters taken at the La Chiva Vein.
- 1,030 gpt silver including 0.405 gpt gold over 1.0 meters sampled across the La Chiva Vein
- 8.2 gpt gold including 583 gpt silver over a 1.1-meters sampled across the 5 Senores Vein;
- 402 gpt silver including 0.24 gpt over 5.3 meters taken on 5 Senores Vein;
- 532 gpt silver over 3.0 meters and 306 gpt silver over 4.9 meters sampled across the Agua Vein.
Copalito is host to a classic epithermal vein system that has never been drilled. Several principle veins with strike lengths up to 2 kilometers and widths from 0.5 to 15 meters have been identified at surface. Over 10 kilometers of untested vein strike has been mapped with high-grade silver and gold discovery potential.
Results of the drill program will be announced as soon as the assays are received and interpreted by the Company.
The Company will continue to ensure the safety of employees and the community during the COVID-19 pandemic and will keep up to date on health regulations outlined by the Government of Mexico.
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 at Copalito
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.
For additional information, please contact:
James McDonald, CEO and President at 403-880-6016
Ken Berry, Chairman at 604-601-5652; 1-888-601-5650
or visit: www.kootenaysilver.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at June 10, 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.
SOURCE Kootenay Silver Inc.
