VANCOUVER, BC, Aug. 11,
2022 /CNW/ - Kootenay Silver Inc. (TSXV: KTN)
(the "Company" or "Kootenay") announces the successful
amendment to the option agreement for 100% of the Columba
High-Grade silver project in Chihuahua State, Mexico. The Company has successfully amended
the schedule on the final payment for the property due in
November 2022. The amended agreement
splits the final November 2022
payment into a series of payments due in August, November,
December 2022 and January, April, and
May of 2023. Payments range from US$215,000 (August
2022 and May 2023) to
US$480,000 (November 2022) and US$430,000 (December
2022, January, and April
2023).
President and CEO James McDonald
states "We are very pleased with the willingness of our option
holder to amend the option agreement and look forward to announcing
drill results from the 2022 program."
The company expects the first set of assay results from the 2022
drill program aimed at expanding on the numerous high-grade hits in
multiple veins. Thus far drilling in the F and D veins have all hit
veining as reported August 4th, 2022,
with good widths seen in very large 75 to 100 meter step outs in
the D Vein.
Results will be released once final assays are received and
compiled. Assay turnaround time has been longer than
anticipated.
A comprehensive list of drill results completed on the Columba
Property since 2019 can be viewed here: Columba Drill Results.
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. 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
August 10, 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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/kootenay-announces-option-agreement-amendment-for-columba-high-grade-silver-project-mexico-301603936.html
SOURCE Kootenay Silver Inc.