VANCOUVER, May 31, 2017 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") is pleased to
announce that it has completed the first three drill holes of the
previously announced 7,500-meter core drill program being carried
out at its 100% owned La Cigarra silver project located in
Chihuahua State, Mexico.
Drilling continues with the forth drill hole of the program
underway on the eastern portion of the Las Venadas Zone, where an
extensive new area of silver mineralization has been recently
discovered by Kootenay's technical team through an ongoing
geological mapping and sampling program. This new mineralized area
within the Las Venadas Zone measures 400 x 200 meters and is open
to the north towards the Las Carolinas Zone and to the south.
The new mineralized area is believed to be the southeasterly
continuation of the San
Gregorio-Las Carolinas
silver mineralized trend that hosts La Cigarra's established NI
43-101 silver resource. Detailed exploration within the southeast
area of Las Venadas was initiated after sampling by Kootenay
returned values of 190, 323 and 582 gpt silver over the prospective
area from surface grab samples. The zone is open to the southeast
as some of the strongest mineralization becomes covered by tertiary
rhyolites where prospecting values of 139, 195, 179, 133, 56 and 53
gpt silver were obtained from grab samples. Of the 168
samples taken during the program results ranged from a high of 582
gpt to less than 1 gpt silver, 42 samples reported grades exceeding
20 gpt silver with many samples returning high values of
lead. Click to view: Table highlighting silver values greater
than 20 gpt. Click to view: Map of Las Venadas sampling.
Kootenay President and CEO James
McDonald states, "We are very pleased to commence
drilling on the newly discovered eastern portion of the Las Venadas
Zone. The new zone is contained within a strikingly similar
geological setting to the Las
Carolinas, San Gregorio and
La Borracha Zones of silver mineralization situated to the north.
All indications from ground exploration and sampling to date make
this region of the property a top priority as we continue to ramp
up our drill and resource expansion program at La Cigarra."
The newly discovered Las Venadas mineralization is hosted within
a northwesterly trending, arcuate structure marked by a magnetic
low associated with silver mineralization to the north hosted in
the Las Carolinas, San Gregorio and La Borracha Zones. This
magnetic anomaly and associated silver mineralization can be traced
for over 5 kilometers and remains open at both ends.
The original Las Venadas mineralization represents the northern
sector of a prominent north-trending structure: the Las
Venadas-Soledad-Las Chinas trend, previously drill-tested by
Kootenay. The new Las Venadas silver mineralization sits on
trend southwest of the La Cigarra silver resource and to the
immediate east of the Las Venadas-Soledad-Las Chinas trend.
Mineralization within the new area is similar to the La Cigarra
established resource and is hosted in veins, stockworks and
breccia's proximal to the contact of an underlying sandstone facies
with an argillite/siltstone/thin bedded limestone facies. Drilling
commenced on the Las Venadas Zone on May 20, 2017.
Results will be announced as assays are received and interpreted by
the Company.
Kootenay continues to evaluate the numerous silver anomalies on
the La Cigarra silver project with the objective of outlining
further prospective drill targets.
Sampling and QA/QC
All technical information
for the La Cigarra exploration program is obtained and reported
under a formal quality assurance and quality control ("QA/QC")
program. Samples are taken under the direction of qualified
geologists and stored in sealed bags. Samples are delivered by the
Company via courier 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 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 will be with HQ core and has
been contracted to BD Drilling from Guadalajara, 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 on behalf 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 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.
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 NOTE REGARDING FORWARD-LOOKING
STATEMENTS:
The information in this news release has been prepared as at
May 30, 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.