VANCOUVER, BC, June 10, 2020 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") announces its
partner on the Cervantes project,
Aztec Minerals Corp. ("Aztec"), has provided an updated review in
anticipation of signing the joint venture agreement and developing
the first joint venture exploration program. Aztec reports
that an 'integrated review of the geological, geochemical, and
geophysical data on Cervantes has
identified 11 targets in total of which 7 are ready for
drilling.'
Drilling conducted during 2017 successfully discovered and
partially outlined an oxide gold cap to a significant new porphyry
gold-copper discovery at the California Zone. Mineralization
within the California Zone remains open in all directions.
Highlights from the 2017 drilling program include the following
intercepts:
- 160m @ 0.77 gpt gold incl
80m @ 1.04 gpt gold, 0.11% copper in
18CER010
- 139m @ 0.71 gpt gold incl
20m @ 2.10 gpt gold, 0.16% copper in
17CER005
- 118m @ 0.63 gpt gold incl
43m @ 1.18 gpt gold, 0.16% copper in
17CER003
- 122m @ 0.60 gpt gold incl
62m @ 0.88 gpt gold, 0.06% copper in
18CER007
- 170m @ 0.42 gpt gold incl
32m @ 0.87 gpt gold, 0.06% copper in
18CER006
Preliminary metallurgical tests on California drill cores show very promising
recoveries for heap leach gold. Testing was conducted on
drill core samples grouped into 4 separate types of mineralization:
Oxide 1, Oxide 2, Mixed Oxide/Sulfide and Sulfide. Results of
bottle roll tests showed excellent potential for heap leach gold
recovery, as follows:
- 85.1% recovery on 2.0mm material and 94.3% on 75-micron
material in sample Oxide 1
- 87.7% recovery on 2.0mm material and 94.2% on 75-micron
material in sample Oxide 2
- 77.9% recovery on 2.0mm material and 89.0% on 75-micron
material in sample Mixed Oxide/Sulphide
- 51.2% recovery on 2.0mm material and 78.7% on 75-micron
material in sample Sulphide
Additional Target Highlights
Purisima East – outcropping
gossans, altered and mineralized diatreme breccias and porphyry
intrusions marked by a 700m by
600m geochemical soil anomaly in 193
samples that average 0.25 gpt gold, a small historic 'glory hole'
mine where rock chip sampling returned high-grade mineralization up
to 44.6 gpt gold.
Estrella - outcrops of gossan and sulfides in silicified
Paleozoic sediments near quartz porphyry dikes with rock chip
samples up to 3.9 gpt gold and 2,010ppm copper.
Purisima West - a mirror image of
Purisima East in size and type of
gossans, altered and mineralized breccias and intrusions in
association with gold and copper soil anomalies.
Jasper – 2017 trenching returned skarn/replacement-type
mineralization up to 0.52% copper and 0.62 gpt gold over a
92.4 m length.
The full news release issued by Aztec Minerals can be found at:
http://aztecminerals.com/. Aztec have fulfilled their
obligations under the earn-in option agreement and the parties are
in the process of finalizing a joint venture agreement for the
Cerventes project with Kootenay holding a 35% interest.
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.
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
June 9, 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.