VANCOUVER, March 22, 2017 /CNW/ - Kootenay Silver
Inc. (TSXV: KTN) (the "Company" or "Kootenay") is pleased
to announce that a wholly-owned subsidiary of Antofagasta Plc (LSE:
ANTO), under an option agreement with the Company has informed
Kootenay that a budget has been approved for the drilling of 5
separate targets on Kootenay's Silver Fox Property located in south
eastern British Columbia. An
estimated 3,000 meter drill program is scheduled to commence on the
Silver Fox Property during Q3 2017.
The Silver Fox Property is comprised of over 21,000 hectares of
mineral claims covering the northern extension of an established
copper-silver mineralized belt originating from Montana, where the 3 principal deposits either
host or produced over 522 million ounces of silver and 2.39 million
tonnes of copper at grades ranging from 1.7 to 2.0 ounce per ton
silver and 0.7 to 0.8 % copper. This mineralized trend is best
known as the Western Montana Copper Belt where the copper-silver
deposits are hosted in Proterozoic aged sediments of the Revett or
Creston Formations.
The Silver Fox Property covers approximately 35 kilometres of
strike length of the prospective hosting stratigraphy in
Canada. Exploration and field work
conducted over the past two seasons has identified five prospective
areas hosting copper and silver mineralization indicative of
potential copper silver deposits similar to what occurs in the same
stratigraphy in Montana. The focus
areas are identified as the Oke, Jake, Yahk Mountain, Gilnockie and
Ward targets.
Under the terms of the joint venture agreement, Antofagasta has the option to earn up to an
80% interest in the Silver Fox Property.
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 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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS:
The information in this news release has been prepared as at
March 21, 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.