VANCOUVER, May 26, 2020 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") is pleased to
announce assay results from an additional four holes at the Columba
high-grade silver project (the "Property"), located in Chihuahua
State, Mexico. These holes are the remaining 4 of 10 holes
completed from the 2020 drill program (the "Program") before the
COVID-19 work stoppage.
Kootenay President and CEO, James
McDonald stated: "Now we have drill results that
show continuity and high grades along nearly 600 meters of strike
on the F Vein at depths from 15 to 200 meters. Important to note in
this release are holes 51 and 49 with silver grades exceeding 800
gpt and 2000 gpt, respectively. These grades are in new veins that
are additive to the F Vein. The hanging-wall structure in
particular shows high grades of silver and good continuity along
400 meters of strike. Holes 51 and 49 also hit high silver grades
of 769 gpt and 484 gpt in the F Vein, successfully extending high
grade silver mineralization 100 and 150 meters down dip from holes
45 and 42."
Highlights of Holes CDH-20-048 to CDH-20-051:
CDH-20-048
- 259 gpt silver over 1.06 meters in the Hanging-wall
structure.
- 197 gpt silver over 3.6 meters within 124 gpt silver
over 7.0 meters in the F Vein structure.
CDH-20-049
- 2,010 gpt silver over 1.0 meter within 762 gpt silver
over 2.8 meters in the Hanging-wall vein.
- 368 gpt silver over 0.65 meters within 68 gpt silver
over 10.2 meters in the Hanging-wall structure.
- 484 gpt silver over 1.4 meters within 209 gpt silver
over 4.4 meters in the F Vein structure.
CDH-20-050
- 486 gpt silver over 0.45 meters within 50 gpt
silver over 38 meters in the F Vein structure.
CDH-20-051
- 865 gpt silver over 2.0 meters within 317 gpt silver
over 6.0 meters in the Hanging-wall structure.
- 769 gpt silver over 1.1 meters and 317 gpt silver
over 4.36 meters within 72 gpt silver over 36 meters in
the F Vein structure.
These holes show exciting expansion down dip and the continuity
and high grade of a new Hanging-wall structure. Click the following
links to view: Plan Map and Cross Sections
for holes CDH-20-048 to 051
Detailed Drill Results – Holes CDH-20-048 to
CDH-20-051
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Hole
ID
|
From
(meters)
|
To
(meters)
|
Interval
(meters)
|
Silver
gpt
|
Pb
%
|
Zn
%
|
Geologic
Intersection
|
CDH-20-048
|
108.69
|
109.75
|
1.06
|
259
|
0.16
|
0.3
|
Hanging-wall
Structure
|
|
182
|
189
|
7
|
124
|
0.16
|
0.6
|
F Vein
Structure
|
including
|
184.4
|
188
|
3.6
|
197
|
0.28
|
1.07
|
including
|
184.4
|
186.05
|
1.65
|
257
|
0.33
|
1.74
|
|
219
|
220
|
1
|
104
|
0.2
|
0.04
|
Footwall
Structure
|
CDH-20-049
|
124
|
126.8
|
2.8
|
762
|
0.42
|
0.54
|
Hanging-wall
Vein
|
including
|
125.8
|
126.8
|
1
|
2010
|
1.18
|
1.24
|
|
248.8
|
259
|
10.2
|
68
|
0.02
|
0.1
|
Hanging-wall
Structure
|
including
|
250.95
|
251.6
|
0.65
|
368
|
0.2
|
0.43
|
|
311
|
315.4
|
4.4
|
209
|
0.16
|
0.26
|
F Vein
Structure
|
including
|
311.9
|
312.7
|
0.8
|
212
|
0.29
|
0.53
|
and
|
314
|
315.4
|
1.4
|
484
|
0.15
|
0.3
|
CDH-20-050
|
137.8
|
145.9
|
8.1
|
92
|
0.07
|
0.12
|
Hanging-wall
Structure
|
including
|
140.2
|
140.7
|
0.5
|
737
|
0.257
|
0.52
|
|
175
|
213
|
38
|
50
|
0.04
|
0.11
|
F Vein
Structure
|
including
|
175
|
176.2
|
1.2
|
141
|
|
0.09
|
and
|
184.7
|
185.15
|
0.45
|
486
|
0.24
|
0.15
|
and
|
198.25
|
200.06
|
1.81
|
118
|
0.13
|
0.24
|
and
|
211
|
213
|
2.0
|
119
|
0.06
|
0.22
|
CDH-20-051
|
147
|
153
|
6.0
|
317
|
0.12
|
0.17
|
Hanging-wall
Structure
|
including
|
149
|
151
|
2.0
|
865
|
0.37
|
0.42
|
|
193
|
198
|
5.0
|
87
|
0.07
|
0.1
|
Hanging-wall
Vein
|
including
|
196.54
|
198
|
1.46
|
135
|
0.02
|
0.15
|
|
207
|
243
|
36.0
|
72
|
0.05
|
0.17
|
F Vein
Structure
|
including
|
207
|
211.36
|
4.36
|
317
|
0.27
|
0.93
|
and
|
210.26
|
211.36
|
1.1
|
769
|
0.75
|
2.88
|
|
278
|
281.63
|
3.63
|
147
|
0.21
|
1.41
|
Footwall
Structure
|
All widths are
drilled widths. At this time, it is estimated true widths will
range from 60 to 80% of drilled widths depending on dip of the vein
and inclination of the hole. All silver composites rounded to the
nearest whole number.
|
The 2020 drill program at Columba was designed to follow up on
the results of the 2019 drill campaign. Numerous priority areas
identified and additional structures that remain untested will
continue to be the focus of the Program once drilling
recommences.
The Company anticipates to restart its Program at Columba during
the first half of June 2020, restart
is contingent on receiving approval of the Company's established
COVID-19 prevention protocols from the Mexican Government. The
Company submitted its plans to the authorities last week and are
awaiting their approval before drilling can recommence.
The 2019 drill program totaled 6,853 meters in 41
holes. Detailed results for all drill holes can be viewed by
clicking the following link: Columba Drill Results.
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 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
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 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 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
May 25, 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.