VANCOUVER, July 20, 2017 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") is pleased to
announce that recent detailed sampling and ground reconnaissance
work completed by Kootenay has identified a well-defined silver
bearing drill target within the La Navidad Zone on its La Cigarra
silver project (the "Property") located in Chihuahua State
Mexico.
Kootenay Silver President & CEO Jim McDonald states, "The geology of the newly
identified silver bearing target contained within the La Navidad
Zone bears striking similarities to the San Gregorio Zone to the
west, which hosts a large portion of La Cigarra's contained NI
43-101 silver resource. Recent field results have made this region
of the property a top priority for future drill testing, as its
location and geological features offer considerable exploration
upside to the potential that already exists within the main La
Cigarra mineralized system"
The La Navidad Zone is situated approximately 500 meters to the
east and parallel to the San Gregorio Zone, which currently
contains approximately 60% of La Cigarra's NI 43-101 Mineral
Resource Estimate of 51.47 million ounces of silver in the Measured
& Indicated categories (18,540,000 tonnes) grading 86.3 gpt
silver and 11.46 million ounces of silver in the Inferred category
(4,450,000 tonnes) grading 80 gpt silver. Click link to view:
La Cigarra Resource Estimate.
Rock and soil sampling programs completed on the La Navidad Zone
have defined a new mineralized area measuring up to 1,000 meters
long by 300 meters wide; similar in size and as anomalous in silver
values as those previously found at the San Gregorio Zone.
Highlights of recent sampling completed by the Company at the La
Navidad Zone include eight samples, one meter length, returning
silver values ranging between 13 gpt to 183 gpt. Click link
to view: Location, Sampling and Geological Setting Maps of La
Navidad Zone on the La Cigarra Property.
The La Navidad Zone is one of eight prospective targets that
have been identified proximal to the La Cigarra deposit with the
potential to add near surface silver resources to the
project. Kootenay is currently conducting further studies at
La Cigarra to define and prioritize targets for possible future
drilling.
La Cigarra Drilling Update
In addition to the ongoing La Cigarra exploration program, as
previously announced on May 15, 2017
Kootenay is also carrying out a 7,500 meter core drilling program
to focus on the expansion of the La Cigarra NI 43-101 mineral
resource between the Las Venadas and Las Carolinas Zones. This
includes the southern boundary of Las
Carolinas, where previous drilling in 2014, conducted by
Northair Silver Corp. encountered widespread mineralization and a
series of high-grade silver intercepts. To date, Kootenay has
completed approximately 2,234 meters over 9 drill holes.
Drill results will be ongoing and announced as assays are received
and interpreted by the Company. Drilling will operate concurrently
with ongoing geological mapping and sampling programs to prioritize
peripheral target areas.
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 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 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
July 19, 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.