VANCOUVER, July 11, 2017 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") is pleased to
announce that Pan American Silver Corp. ("Pan American") has
informed Kootenay that a drill program has commenced on the
Company's La Negra high grade silver discovery contained within the
Promontorio Mineral Belt Project located in Sonora State,
Mexico.
The program, operated by Pan American, will total approximately
4,055 meters of core drilling over 25 holes. Drilling will
focus on brownfield targets and consist of primarily infill
drilling as well as step out holes to depth.
The drill program is part of an earn-in option agreement between
Kootenay and Pan American that provides Kootenay with a series of
work and cash commitments and a carried to production interest on
La Negra. Click to view: Details of La Negra Option Agreement
with Pan American.
About the La Negra High Grade Silver Discovery
The La Negra discovery is a hydrothermal-diatreme breccia
exposed over a 150 x 500 meter area contained within the
Promontorio Mineral Belt Project, approximately seven (7)
kilometres north of the Promontorio silver deposit in Sonora State,
Mexico.
Since the initial discovery in 2014, Kootenay has completed a
total of 6,200 meters of drilling over 41 core holes. Results
have confirmed significant intervals of high grade, widespread
silver mineralization extending from surface to depth of 300
meters. Highlights from these drill programs include hole
LN- 21 reporting 200 metres of 156 g/t silver with the
bottom 50 metres grading 420 g/t silver including 6 metres of 1,337
g/t silver.
Pan American began managing the La Negra exploration program in
April 2016. Drilling conducted by Pan
American confirmed high-grade results previously reported by
Kootenay as well as the presence of a second breccia zone further
to the south, which currently remains open at depth. To date, Pan
American has completed a total of 6,800 meters of drilling over 29
core holes. Click to view: Comprehensive Drill Results
Completed on the La Negra Discovery.
Sampling and QA/QC
Samples were assayed by Inspectorate of Hermosillo, Mexico, using four acid digestion
35 element ICP analytical methods with fire assay for Au and Ag
with atomic absorption finish and gravimetric finish, respectively.
Pan American has followed a Quality Assurance/Quality Control
program comprised of the insertion of blank material and certified
standard samples at a frequency of one each for every 20 samples.
There is no known drilling, sampling, recovery, or other factors
that could materially affect the accuracy or reliability of the
data referred to in the table. Holes are drilled with a diamond
core drill rig.
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 on behalf of 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.
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
July 10, 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.
SOURCE Kootenay Silver Inc.