VANCOUVER, BC, March 17, 2021 /CNW/ - Kootenay Silver
Inc. (TSXV: KTN) (the "Company" or
"Kootenay") is pleased to announce the discovery of
significant gold on its 100% owned Maria Elena gold project ("Male"
or the "Property"), located approximately 100 kilometers south east
of the city of Hermosillo in
Sonora State, Mexico.
Trenching conducted at the Property has exposed several exciting
gold results. This program included a total of 8 trenches
completed over four areas of the Property. Of the eight
trenches, positive results from five (trenches 0,2,4,5,6) were
received with results for the remaining trenches (1, 3 and 7) not
encountering any significant veining or
values. Highlights from the results received to date are
as follows:
Trench 6
- 33 meters averaging 2.67 gpt gold
-
- Includes 9 meters of 5.29 gpt gold
- Includes 1 meter of 23.7 gpt gold
Trench 4
- 24 meters averaging 1.81 gpt gold
-
- Includes 8 meters of 3.98 gpt gold
- Includes 1 meter of 17.25. gpt gold
Trench 2
- 9 meters averaging 2.01 gpt gold
-
- Includes 1 meter of 15.45 gpt gold
Click this link to view maps of the trenching.
Initial trenching was completed by an excavator with chip
samples taken across one-meter lengths. Trench 0 returned narrow
anomalous gold values to 0.38 gpt gold over one meter.
Gold mineralization is hosted by stock works of quartz and
quartz carbonate veins formed by conjugate sets of veins striking
northeast and northwest. These stock working veins form zones that
range in apparent width, from a scale of one meter to over 30
meters. The zones form mineralized "structures" or trends that can
be traced individually for hundreds of meters (generally 200 to
1000 meters). Further trenching is required to better
determine true widths and continuity along strike.
The mineralized stock works are made of multiple veins that
individually range from tens of centimeters to 1.7 meters in width.
Numerous conjugate vein sets and associated stock work zones
occur within a 1.5 by 1.5-kilometer area hosted within a diorite
intrusion and are the source of the placer gold historically mined
on the property.
Prior to trenching, earlier prospecting work by Kootenay
indicated very anomalous gold in the quartz veins. Out of 426
select (prospector) grab samples and soils, 47% of the tests
returned greater than 0.5 gpt gold, whereas 36% returned greater
than 1 gpt gold and 16% retuned greater than 5 gpt gold. Individual
gold values included highs of 260 gpt, 85 gpt, 81 gpt, 53 gpt and
51 gpt.
Historic activity at Male includes hundreds of dry placer pits
that often tested into the gold bearing quartz veins in bedrock.
The area is extensively covered by overburden and thus holds the
possibility of hiding a potentially large gold deposit.
The gold is associated with irregular silver values exceeding
900 gpt however silver is generally low. Copper, lead and zinc is
also anomalous with highs to 0.56%, 2.6% and 3.9%,
respectively. Molybdenum and tungsten occur as well.
A 36-line kilometer ground magnetic survey has been conducted.
Preliminary interpretation shows some association with magnetic
trends striking northwest, north-south and northeast with the
primary stock work trends. Interpretation of the mag data
continues. Two IP lines which range about 2 kilometers each have
also been run. These results are also being compiled.
Follow up steps involve interpretation of the geophysics to
determine its usefulness in mapping the gold zones in covered
zones, more trenching and then a decision on whether to drill or
option the project.
The geophysical and trenching was conducted and paid for by a
third-party with Kootenay submitting the trench samples for
assay.
Sampling and QA/QC at Male
All technical information for the Columba exploration program is
obtained and reported under a formal quality assurance and quality
control ("QA/QC") program. Samples reported were all taken in one
meter long intervals and are chip samples. Samples were delivered
by the Company to ALS Minerals ("ALS") in Hermosillo. The samples are dried, crushed and
pulverized with the pulps being sent airfreight for analysis by ALS
in Vancouver, B.C. 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.
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.
Qualified Persons
The Kootenay scientific and 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 Kootenay by James
McDonald, P.Geo, President, CEO & Director for Kootenay,
a Qualified Person.
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.
On Behalf of the Board of Directors of
KOOTENAY SILVER INC.
"James McDonald"
President & CEO
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 NOTES:
The sampling results disclosed in this news release are not
necessarily indicative and drilling is required to confirm a
mineral deposit.
The information in this news release has been prepared as at
March 16, 2021. This news
release contains "forward-looking information" within the meaning
of Canadian securities legislation and "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 (collectively,
"forward-looking statements"). All statements, other
than statements of historical fact, that address activities, events
or developments that Kootenay Silver Inc. ("Kootenay" or the
"Company") believes, expects or anticipates will or may
occur in the future including, without limitation, the anticipated
exploration program results from exploration activities, the
discovery and delineation of mineral deposits and sampling results
from the Columba Project and other properties, the anticipated
content, commencement, and cost of exploration programs in respect
of the Company's projects and mineral properties, the anticipated
business plans and timing of future activities of the Company,
future capital expenditures (including the amount and nature
thereof), business strategies and measures to implement strategies,
competitive strengths, goals, expansion and growth of the business
and operations, plans and references to the future success of the
Company, and such other matters, are forward–looking
statements. These forward-looking statements reflect the
current expectations or beliefs of the Company based on information
currently available to Kootenay and often use words such as
"expects", "plans", "anticipates", "estimates", "believes",
"intends", "potential", "may" or variations thereof or the negative
of any of these terms.
Forward-looking statements are subject to a number of risks
and uncertainties that may cause the actual results of the Company
to differ materially from those discussed in the forward-looking
statements and, even if such actual results are realized or
substantially realized, there can be no assurance that they will
have the expected consequences to, or effects on, Kootenay. Factors
that could cause actual results or events to differ materially from
current expectations include, among other things: the ability of
the Company to obtain sufficient financing to fund its business
activities and plans, operating and technical difficulties in
connection with mineral exploration and development and mine
development activities for Company's projects generally, actual
results of exploration activities (including the estimation or
realization of mineral reserves and mineral resources), the timing
and amount of estimated future production, costs of production,
capital expenditures, the costs and timing of the development of
new deposits, the availability of a sufficient supply of water and
other materials, requirements for additional capital, future prices
of gold and silver, changes in general economic conditions, changes
in the financial markets and in the demand and market price for
commodities, possible variations in ore grade or recovery rates,
possible failures of plants, equipment or processes to operate as
anticipated, accidents, labour disputes and other risks of the
mining industry, delays in obtaining governmental and regulatory
approvals (including of the TSX Venture Exchange), permits or
financing or in the completion of development or construction
activities, changes in laws, regulations and policies affecting
mining operations, hedging practices, currency fluctuations, title
disputes or claims limitations on insurance coverage and the timing
and possible outcome of pending litigation, environmental issues
and liabilities, risks related to joint venture operations, and
risks related to the integration of acquisitions, as well as those
factors discussed under "Risk Factors" in the Company's most recent
annual management's discussion and analysis and other filings of
the Company with the Canadian Securities Administrators, copies of
which can be found under the Company's profile on the SEDAR website
at www.sedar.com.
Any forward-looking statement speaks only as of the date on
which it was made, and except as may be required by applicable
securities laws, Kootenay disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new
information, future events or results or otherwise. Although
Kootenay believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to their
inherent uncertainty. There can be no assurance that
forward-looking statements will prove to be accurate, and actual
results and future events could differ materially from those
anticipated in such statements.
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.
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SOURCE Kootenay Silver Inc.