VANCOUVER, BC, June 11, 2020 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (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.
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.