VANCOUVER, Feb. 15, 2018 /CNW/ -Kootenay Silver
Inc. (TSXV: KTN) (the "Company" or "Kootenay") is pleased
to announce the commencement of its 2018 drill program on its 100%
owned La Cigarra silver project in the Parral Mining Camp,
Chihuahua, Mexico.
The first phase of the 2018 program will consist up to 5,000
meters of drilling and will focus on three primary objectives,
including:
- Drilling within the La Borracha Zone northwest of the La
Cigarra silver deposit;
- Drill testing for continuity of high grade bearing structures
such as the 104 "vein" ("104-Vein") at the southern end of the
resource; and
- The first drill test of the newly identified "Nogalera Gold
Trend".
A comprehensive second phase drill program will be determined
following the assessment of the various targets and the results
from the initial 5,000 meters of drilling.
Kootenay President and CEO James
McDonald states, "We are very pleased to launch the
first phase of our 2018 drill program on La Cigarra. Our recent
successes identifying two new silver discoveries (RAM and Las
Venadas) and multiple new priority targets, along with the
identification of a potential new emerging gold trend, clearly
underscores La Cigarra's immense potential within one of
Mexico's premier mining
districts."
Upcoming Drilling and Development:
La Cigarra NI 43-101 Resource
Drilling will begin to
the immediate northwest of the La Cigarra silver deposit following
up on positive results from 2017 program, where hole CC-17-37
intercepted 107 gpt silver over 8 meters 500 meters beyond the edge
of the current resource boundary. This is within the La Borracha
Zone, which is the strike extension of the La Cigarra silver
deposit. Approximately, 6 widely spaced holes are planned to
determine the extent and grade of silver mineralization for 800
meters of strike beyond the resource. The overall objective will be
to add silver ounces to the resource by testing the strike extent
of the main mineralized structure hosting the La Cigarra silver
deposit, which is largely untested by previous drilling.
Nogalera Gold Trend
Preparations are underway to
prepare the first drill test of the newly identified gold trend at
Nogalera upon completion of the La Borracha drilling. Anomalous
gold mineralization has been traced on Nogalera for a minimum 1,000
meters and remains open along strike. The first drill holes will
test the southern 400 meters of the zone where multi-gram gold
grades of up to 12.35 gpt gold and 179 gpt silver. See the
Company's news release dated February 8,
2018 for more information.
104-Vein Structure
The third priority area is the
104-Vein situated at the southern end of the resource named
Las Carolinas. Drilling will test
the continuity and extent of high grades in the recently recognized
104-Vein structure. The 104-Vein structure was identified after
re-assessing previous drilling and projected to surface where it
has been traced for over 200 hundred meters. The southern 100
meters is consistently anomalous with a low of 13 gpt silver over
0.7 meters and a high of 1,170 gpt silver over 1.7 meters in chip
sampling.
Previous drill holes encountered up to 310 gpt silver over 11.3
meters including 0.8 meters of 3,920 gpt silver (CC-12-104), 155
gpt silver over 17.25 meters including 342.55 gpt silver over 6
meters (CC-11-13), 100 gpt silver over 18 meters (CC-12-64, 260 gpt
silver over 15.1 meters including 686 gpt silver over 4.6 meters
(CC 11-13), 83 gpt silver over 10.7 meters and the southeastern
most hole CC-14-155 with 138 gpt silver over 23.45 meters.
Results from the current multi-phase drill program will be
ongoing and announced as assays are received and interpreted by the
Company.
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 Kootenay by James
McDonald, P.Geo, President, CEO & Director for Kootenay,
a Qualified Person.
Sampling and QA/QC at La Cigarra
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 from core cut in half with a
diamond saw under the direction of qualified geologists. Samples
are then labeled placed in plastic bags, sealed and with interval
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. All drilling will be with HQ core and has been contracted
to BD Drilling from Guadalajara,
Mexico.
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 14, 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.