VANCOUVER, BC,
Feb. 16,
2022 /CNW/ - Kootenay Silver is pleased to
announce JV operator Aztec Minerals Corp. has reported a broad,
high grade, gold intercept in the first RC drill hole on the
California target on the
Cervantes property located in
Sonora, Mexico.
California Zone Drill Highlights
- 1.1 gpt Au over 88.41 m in
mineralized quartz feldspar porphyry
-
- Including 1.56 gpt Au over 54.9
m with 2.8 gpt Au over 24.4 meters
View drill section here: Link to section view hole
CAL22-001
This is the first hole in the California target in the current program and
represents a significant step out from a previous fence of holes
that established a broad area of shallow oxide gold mineralization.
The best hole from which graded a drill length of 160 meters of
0.77 gpt Au, 0.13% copper and 3.4 gpt silver.
The Phase 2 RC drill program at Cervantes is focussed on expanding previously
drilled California zone by
completing two drill hole fences parallel to and on either side of
the 2017-18 Phase 1 drill hole fence. To-date, every hole drilled
at California has intersected near
surface, oxidized gold mineralization with minor copper oxides.
Reported lengths are apparent widths, not true widths, and the
observed gold mineralization appears to be widely distributed in
disseminations, fractures and veinlets within a quartz-feldspar
porphyry stock and related hydrothermal breccias.
James McDonald President and CEO
of Kootenay Silver says "The current drill program on the
Cervantes project is off to a
great start with the best hole drilled to date. We are looking
forward to the remainder of the drill holes results."
The Cervantes project is a
65/35 joint venture with Kootenay holding a 35% participating
interest.
California
2022 RC Drill Program Plan Map
Hole CAL22-001 intersected extensive gold mineralization
extending the known mineralized zone at depth and to the north. The
area currently being drilled measures approximately 800 metres long
by 300 metres wide, with demonstrated, continuous mineralization of
up to 170 metres depth. The porphyry gold-copper mineralization is
still open in all directions.
Drill
Hole
|
From
m
|
To m
|
Interval
m*
|
Au
gpt
|
Comments
|
CAL22-001
|
22.9
|
111.3
|
88.4
|
1.10
|
|
Including
|
22.9
|
77.7
|
54.9
|
1.56
|
|
|
30.5
|
54.9
|
24.4
|
2.815
|
|
230 Az,
-60
|
30.5
|
36.6
|
6.1
|
7.44
|
|
The Aztec-Kootenay JV has completed 22 holes of a 25 hole, 5000
meter RC program. The first four RC holes tested the previously
undrilled Purisima East target,
where high grade gold mineralization was sampled in a glory hole.
Preliminary gold assays in these four holes exhibit anomalous but
sub-economic gold grades.
The main objective of the 2021 – 2022 exploration program
is to further test the open pit, heap leach gold potential of the
porphyry oxide cap at California
and evaluate the potential for deeper copper-gold porphyry sulfide
mineralization underlying the oxide cap.
Drill samples cuttings are collected every 5 feet (1.52m) 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.
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
February 16, 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.