VANCOUVER, BC, Feb. 23,
2022 /CNW/ - Kootenay Silver Inc. (TSXV: KTN)
(the "Company" or "Kootenay") is pleased to announce
that its joint venture ("JV") partner and JV operator, Aztec
Minerals Corp. ("Aztec") continues to intersect broad, high-grade,
gold mineralization during the 2022 RC drill program at the
California target on the
Cervantes property located in
Sonora, Mexico.
The best of three drill holes reported in this news release is
CAL22-004 which intercepted:
- 167.2 meters grading 1.002 gpt gold including 24.4 meters
grading 4.247 gpt gold.
Two fences of drilling have now been completed on each side of
the previously drilled fence of holes on the California shallow oxide gold target with the
objective of expanding the size of the zone identified in 2017-2018
drilling. This has been successful so far with a foot print now
measuring 250 to 500 meters wide and 900 meters long with
mineralization continuous vertically to at least 245 meters.
California Zone Drill Highlights
- 1.002 gpt gold over 167.2 meters in mineralized quartz
feldspar porphyry, including 24.4 meters of 4.247 gpt gold
in CAL22-004, located in the central part of the mineralized
zone
- 0.374 gpt gold over 99.1 meters in mineralized
porphyries and hydrothermal breccias in CAL22-002 located at the
west end of the mineralized zone
- 0.451 gpt gold over 45.7 meters in mineralized
porphyries in CAL22-003, including 13.7 meters of 0.868 gpt
gold located at the south end of the mineralized zone
View drill section here:
Link to section view hole
CAL22-002
Link to section view hole
CAL22-003
Link to section view holes CAL22-004
Reported lengths are apparent widths, not true widths, and the
observed gold mineralization appears to be widely distributed in
disseminations, fractures and veinlets within quartz-feldspar
porphyry, feldspar porphyry stocks and related hydrothermal
breccias.
California 2022 RC Drill
Program Plan Map
Holes CAL22-002 and 003 intersected extensive gold
mineralization, see table below, extending the known mineralized
zone at depth and to the north, west, and CAL22-004 to the south.
The porphyry gold-copper mineralization is still open in all
directions.
Detailed Drill Results – CAL-22-001 to
CAL-22-004
Drill
Hole
|
From
(meters)
|
To
(meters)
|
Interval
(meters)
|
Gold
(gpt)
|
Comments
|
CAL22-001
|
16.77
|
77.74
|
60.97
|
1.451
|
230 Az,
-60
|
Including
|
30.49
|
45.73
|
15.24
|
3.962
|
|
|
86.89
|
112.8
|
25.91
|
0.348
|
|
|
|
|
|
|
|
CAL22-002
|
4.6
|
103.7
|
99.1
|
0.374
|
225 Az,
-60
|
|
|
|
|
|
|
CAL22-003
|
45.7
|
91.5
|
45.7
|
0.451
|
235 Az,
-60
|
Including
|
60.9
|
74.7
|
13.7
|
0.868
|
|
|
|
|
|
|
|
CAL22-004
|
0
|
167.2
|
167.2
|
1.002
|
235 AZ,
-60
|
Including
|
131.1
|
155.5
|
24.4
|
4.247
|
|
The Aztec-Kootenay JV has now completed its Phase 2 Reverse
circulation (RC) program of 26 holes, totaling 4,649 meters at the
Cervantes Property. Four holes drilled into the Purisma
target have been previously reported. The single drill holes at
Jasper and California North found mineralized quartz feldspar
porphyry with results pending.
The Aztec-Kootenay JV will now carry out channel sampling and
geologic mapping of the new 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.
Drill samples cuttings are collected every 5 feet (1.52 meters)
from all drill holes. The samples are analyzed by Bureau Veritas
for gold with a 30-gram sample size using the method FA430 followed
by MA300. Over limits, when present, are analyzed by AR404 or
FA550. All holes contain certified blanks, standards, and
duplicates as part of the quality control program. The QA/QC has
delivered excellent results to date good data integrity. The
samples are shipped to and received by Bureau Veritas Minerals
laboratory for the gold and multielement geochemical analysis and
additional gold results will be received and reported in the next
several weeks. Final multielement ICP results are expected to
follow the release of the preliminary gold assays and are expected
to be received during the second quarter 2022.
Cervantes Property Highlights
View: Cervantes Project Location Map
- Large well-located property (3,649 hectares) with good
infrastructure, road access, local town, all private land, water
wells on property, grid power nearby
- Seven prospective mineralized zones related to high
level porphyries and breccias along an 7.0km east-northeast
corridor with multiple intersecting northwest structures
- Distinct geophysical anomalies, California target marked by high magnetic and
low resistivity anomalies, high radiometric and chargeability
anomalies responding to pervasive alteration
- Extensive gold mineralization at California zone, 118 soil samples average
0.44 gpt gold over 900 m by
600 m area, trench rock-channel
samples up to 0.47 gpt gold over 222m
- Already drilled the first discovery hole at the
California zone, intersected gold
oxide cap to a classic gold-copper porphyry deposit, drill results
up to 0.77 gpt gold over 160 m
- Excellent gold recoveries from preliminary metallurgical
tests on drill core from California zone; oxide gold recoveries in
bottle roll tests range from 75% to 87%
- California geophysical
anomaly wide open laterally and at depth, IP chargeability
strengthens and broadens to >500m
depth over an area 1100 m by
1200 m
- Three-Dimensional IP Survey conducted in 2019 extends
strong chargeability anomalies to the southwest covering Estrella,
Purisima East, and Purisima West, coinciding well with alteration
and Au-Cu-Mo soil geochemical anomalies, all undrilled.
Cervantes Property Overview
Cervantes is a highly
prospective porphyry gold-copper property located in southeastern
Sonora State, Mexico located 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
a northeast-southwest transverse trending gold belt that includes
the Mulatos epithermal gold mine (Alamos Gold) 60 km to the east,
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). The
property was acquired by Kootenay Silver by prospecting and staking
and later optioned to Aztec Minerals who earned a 65% interest
under the agreement. The property is now a 65/35 JV operated by
Aztec with Kootenay holding a 35% interest and both parties
contributing their pro rata interests to the project.
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.
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:
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The information in
this news release has been prepared as at February 22 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.
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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.
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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.