VANCOUVER, Feb. 7, 2018 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") is pleased to
announce the surface discovery of a new area of multi-gram gold and
silver mineralization with high lead at its 100% owned La Cigarra
silver project, located in Chihuahua State, Mexico. Click to view location map of new area
relative to the resource and defined trends.
Gold mineralization has been traced by prospecting, mapping and
sampling along mineralized structures within a broad area measuring
500 by 1000 meters. The gold trend is open on strike in both
directions. Sampling returned numerous multi gram values of up to
12.35 gpt gold, 179 gpt silver and 19.75%lead along the 1000
meter long trend. Click to view sampling results along
the 1000 meter strike length.
The southern portion of the trend is well defined by mapping,
chip and grab sampling along a mineralized area that extends for
over 400 meters of strike and a width of 100 meters. This area is
comprised of parallel shear zones with anomalous mineralization
over widths generally in the range of 2 to 20 meters. Click
to view map of the sampling results along southern trend.
The gold mineralization sits along the southwestern extension of
the previously reported Nogalera Zone which is defined by a large
lead in soil anomaly with anomalous gold and silver in outcrop
occurrences ranging from background to 10.8 gpt gold and 1060
gpt silver. Mapping will help determine if the newly recognized
gold bearing structures extend into the Nogalera
mineralization.
Follow up mapping, prospecting, hand trenching and chip sampling
are underway to better define the mineralized structures in
preparation for drilling.
Kootenay President & CEO, Jim
McDonald states: "The consistent high gold values
are new for the project where previously identified mineralization
is silver dominant. This area represents an exciting new target for
us and the first significant gold mineralization to be found on the
project. We are actively and rapidly moving this new gold trend to
drill stage with plans to be drilling it near the end of the first
quarter."
Rock Sampling Highlights > 0.1 gpt Gold
Area 1 – Click to view map of gold samples; Click to view
map of silver samples
SAMPLE
NUMBER
|
SAMPLE
TYPE
|
LENGTH
|
Gold
pt
|
Silver
gpt
|
Lead
%
|
Zinc
%
|
232221
|
Grab
|
N/A
|
10.85
|
179
|
7.78
|
1.32
|
232220
|
Grab
|
N/A
|
4.59
|
159
|
4.60
|
0.272
|
232226
|
Panel
|
0.6
|
4.24
|
80.6
|
4.30
|
2.74
|
232216
|
Grab
|
N/A
|
4.11
|
176
|
2.16
|
0.331
|
MK1411f
|
Float
|
N/A
|
1.615
|
51
|
19.75
|
0.005
|
232236
|
Grab
|
N/A
|
1.27
|
12.8
|
0.66
|
0.0913
|
232229
|
Panel
|
1.5
|
0.901
|
20.5
|
0.39
|
0.206
|
232230
|
Panel
|
1.6
|
0.851
|
35.2
|
0.96
|
0.125
|
232215
|
Panel
|
1.5
|
0.791
|
16.4
|
0.76
|
0.0159
|
T NOG-003
|
Channel
|
2.0
|
0.785
|
8
|
0.28
|
0.021
|
232223
|
Panel
|
1.5
|
0.781
|
141
|
5.08
|
0.332
|
232224
|
Panel
|
1.5
|
0.762
|
41
|
0.73
|
0.455
|
232214
|
Panel
|
1.5
|
0.652
|
3.15
|
0.04
|
0.0066
|
232225
|
Panel
|
1.5
|
0.623
|
6.67
|
0.94
|
0.751
|
230235
|
Panel
|
1.5
|
0.563
|
6.3
|
0.18
|
0.0613
|
232235
|
Grab
|
N/A
|
0.503
|
3.91
|
0.24
|
0.191
|
232228
|
Panel
|
1.5
|
0.487
|
25
|
0.70
|
0.192
|
MK1410f
|
Float
|
N/A
|
0.35
|
25
|
5.78
|
0.155
|
232283
|
Chip
|
1.5
|
0.299
|
22.5
|
0.07
|
0.0428
|
232231
|
Panel
|
2
|
0.257
|
8.82
|
0.24
|
0.563
|
232213
|
Panel
|
1.5
|
0.236
|
1.81
|
0.05
|
0.0224
|
232222
|
Panel
|
1.8
|
0.183
|
11.5
|
0.46
|
1.215
|
MK1409g
|
Grab
|
N/A
|
0.183
|
71
|
0.90
|
0.029
|
MK1408f
|
Float
|
N/A
|
0.129
|
5
|
0.36
|
0.186
|
Area 2 - Click to view map of gold samples; Click
to view map of silver samples
SAMPLE
NUMBER
|
SAMPLE
TYPE
|
LENGTH
|
Gold
gpt
|
Silver
gpt
|
Lead
%
|
Zinc
%
|
FC2243d
|
Grab
|
N/A
|
12.35
|
80
|
5.380
|
0.699
|
FC2245ch
|
Channel
|
1.0
|
7.39
|
64
|
5.040
|
0.474
|
FC2244ch
|
Channel
|
1.00
|
5.41
|
89
|
7.130
|
0.225
|
230347
|
Chip -
Panel
|
1.5
|
4.7
|
32.8
|
3.120
|
0.464
|
T NOG-001
|
Channel
|
2.1
|
4.63
|
89
|
5.790
|
0.464
|
230346
|
Chip -
Panel
|
1.5
|
3.66
|
28.4
|
3.240
|
0.403
|
FC2247g
|
Grab
|
N/A
|
3.24
|
5
|
0.103
|
0.024
|
230345
|
Chip -
Panel
|
1.5
|
2.2
|
46.4
|
1.285
|
0.351
|
FC2248g
|
Grab
|
N/A
|
1.68
|
34
|
1.565
|
0.016
|
FC2246ch
|
Channel
|
2.0
|
1.165
|
102
|
1.465
|
0.344
|
MK1415g
|
Grab
|
N/A
|
0.313
|
1
|
0.048
|
0.054
|
Geology & Sampling Discussion
The anomalous nature of the structures is indicated by the
average of 118 samples taken from the 1000 meter long gold trend
which averages 0.78 gpt gold, 23.1 gpt silver and 1.1 % lead
including an aggregate length of 105 meters in chip samples. Click
to view the 118 samples.
In area 1 and 2 the overall width of the mineralized trend is
about 100 meters and the gold mineralization looks to be related to
parallel shears zones within the 100 meters where individual zones
appear to range from 5 to 20 meters in width.
The gold is associated with strongly faulted to sheared and
argillically altered sediments with minor silicification and quartz
veining. Manganese carbonate also occurs in the zone but seems to
be associated with a separate zone of silver dominant
mineralization.
Sampling and QA/QC
Surface samples reported herein are a combination of grab, chip
and panel chip. 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. Samples are then
labeled placed in plastic bags, sealed and with interval, location
and sample numbers recorded. 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, 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.
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.
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.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS:
The information in this news release has been prepared as at
February 6, 2018. 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.