VANCOUVER, BC, Jan. 27, 2022 /CNW/ - Kootenay Silver Inc.
(TSXV: KTN) (the "Company" or "Kootenay") is pleased to
announce that Aztec Minerals Corp. ("Aztec") has reported that the
Aztec / Kootenay Joint Venture has completed the first 14 holes
totaling 2,810.6 metres (m) of the current 5,000 m, 22-hole Phase 2 reverse circulation (RC)
drill program at the Cervantes Property located in Sonora State,
Mexico.
Four main targets will be tested. The primary objectives of the
2021 – 2022 exploration program are:
- Better define the open pit, heap leach gold potential of the
porphyry oxide cap at California
where previous drilling as reported encountered up to 0.77 gpt
gold over 160 meters of drill length;
- Evaluate the potential for deeper copper-gold porphyry sulfide
mineralization underlying the oxide cap;
- Test for north and west extensions of the California mineralization at California North
and Jasper;
- And assess the breccia pipe potential of Purisima East.
Drill samples were shipped to the Bureau Veritas Minerals
laboratory in Hermosillo for
geochemical analysis and results are anticipated in the next
several weeks.
Four holes were drilled for 769.6
m to test the southern portion of the Purisima East target,
an area which hosts historic underground mines and prospects. This
is area is coincident with IP chargeability and
gold-copper-molybdenum anomalies within a breccia along the rim of
a porphyry intrusion. All four holes intersected pervasively
fractured, oxidized, argillic and silicified sediments and quartz
feldspar porphyry dikes and hydrothermal breccias.
Ten holes thus far have been drilled into the principal
California gold-copper porphyry
target, where the Aztec – Kootenay JV previously discovered
extensive porphyry gold-copper mineralization (drill intercepts up
to 0.77 gpt gold over 160 m).
The 10 step-out holes for 2,041 m are
at 50 m spacings to expand and better
define the area of oxide gold mineralization at California. There remain several drill holes
to be completed to be followed by two 500
m deep holes to test the depth extent of the strong
underlying IP chargeability anomaly which is hoped to be a large
gold-copper porphyry. This mineralization is associated with
massive silicification and extensive hydrothermal brecciation of
the hosting quartz feldspar porphyry and the surrounding
sedimentary rocks.
The remaining Phase 2 drill exploration program will test the
California Norte prospect - one hole will test a small part of the
coincident IP chargeability/gold-copper-molybdenum anomaly, and the
Jasper prospect - one hole will test the outcropping strong oxide
copper mineralization and extensive copper-molybdenum soil
anomaly.
After drilling concludes, company geologists will turn their
attention to channel sampling and geologic mapping of the newly cut
drill roads at California,
California Norte and Jasper, as well as to expand surface sampling
and mapping on the property in general to continue the 2021 Phase 1
surface program.
The full news release issued by Aztec Minerals can be found at:
http://aztecminerals.com/
Cervantes Property Overview
Cervantes is a highly
prospective porphyry gold-copper property located in southeastern
Sonora state, Mexico. The project lies 160 km east of
Hermosillo, Sonora, Mexico within
the prolific Laramide porphyry copper belt approximately 265 km
southeast of the Cananea porphyry
copper-molybdenum mine (Grupo Mexico). Cervantes also lies along an east-west
trending gold belt 60 km west of the Mulatos epithermal gold mine
(Alamos Gold), 35 km northeast of the Osisko San Antonio gold mine,
45 km west of the La India mine (Agnico Eagle), and 40 km northwest
of Santana gold deposit (Minera
Alamos). View: Cervantes Project Location
Map
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 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 of 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 junior 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 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
January 27, 2022. 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.
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SOURCE Kootenay Silver Inc.