VANCOUVER, BC, Aug. 4, 2022
/CNW/ - Kootenay Silver Inc. (TSXV: KTN) (the "Company"
or "Kootenay") is pleased to provide an update on drilling at
the Columba high-grade silver project (the "Property"), located in
Chihuahua State, Mexico.
Significant progress has been made on the 15,000-meter drilling
program announced earlier in the year, (see News Release dated
May 6, 2022). A considerable
proportion of assay results are outstanding, and the Company has
initiated a pause, awaiting receipt of results to assist in
targeting of additional step-outs.
Columba is a past producing high-grade silver underground mine
and the area is known host to dozens of mineralized veins. Kootenay
initiated its first drilling program in 2019 and has returned many
high-grade silver intervals (for details see Columba Project).
The current program of drilling will test extensions of F Vein,
D Vein, B Vein and JZ Veins as well as exploratory step-outs on
other prospective veins. The 2022 program commenced with a series
of drill holes targeting F Vein and D Vein. Core logging to date
confirms that each hole at F and D successfully encountered its
target. Pierce point locations including interval widths are shown
in plan maps and long sections for F Vein and D Vein. Kootenay
eagerly awaits results as additional holes may be warranted.
Current program vein intercepts from F Vein range from less than
one meter to over 5 meters in drilled length in 7 holes for an
average of 2 meters of drilled width. Associated stockwork veining
and hydrothermal breccia zones adjacent to the F-Vein range from 6
to 30 meters in drilled length. True widths are estimated to range
from 65 to 85% of drilled width. Step-outs from previous intercepts
range from 50 to 75 meters, each hole successfully expanding the
known size of the F Vein. Prior to this current program drilling
had established 700 meters of strike along the F Vein down to a
vertical depth of 200 meters and open to depth.
D Vein step-outs from previous drilling vary from 50 to 100
meters and all 11 holes from the current program intercepted the
target. D Vein intervals to date range from 0.98 to 17.4 meters
with an average of 6.9 meters downhole length with true widths
estimated to range from 65 to 85% of downhole length. Including
previous holes D Vein has been hit consistently along a strike of
over 430 meters and a vertical extent of 340 meters and remains
open in all directions.
Assays will be released once final assays are received and
compiled. Turn around has been longer than anticipated.
See plan maps for F Vein and D Vein.
James McDonald, Kootenay’s
President & CEO commented, "We are very excited to see
such a high rate of drill success in hitting vein in all holes and
now await receipt of the assay results."
A comprehensive list of drill results completed on the Columba
Property since 2020 can be viewed here: Columba Drill Results.
Sampling and QA/QC at
All technical information for the Columba 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 and
engineers. Samples are then labeled, placed in plastic bags, sealed
and with interval and sample numbers recorded. Samples are
delivered by the Company to ALS Minerals ("ALS") in Chihuahua. The
Company inserts blanks, standards and duplicates at regular
intervals as follows. On average a blank is inserted every 100
samples beginning at the start of sampling and again when leaving
the mineral zone. Standards are inserted when entering the
potential mineralized zone and in the middle of them, on average
one in every 25 samples is a standard. Duplicates are taken in the
mineralized zone, on average 1 to 2 duplicates for each hole.
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
reported is HQ core and has been contracted to Globexplore Drilling
from Hermosillo, Sonora,
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
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
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,
CAUTIONARY NOTE REGARDING
The information in this news release has been prepared as at
August 3, 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 includes Mineral Reserves and Mineral Resources
classification terms that comply with reporting standards in
Canada and the Mineral Reserves
and the Mineral Resources estimates are made in accordance with
National Instrument 43-101 – Standards of Disclosure for Mineral
Projects ("NI 43-101"). NI 43-101 is a rule
developed by the Canadian Securities Administrators that
establishes standards for all public disclosure an issuer makes of
scientific and technical information concerning mineral projects.
These standards differ significantly from the requirements adopted
by the U.S. Securities and Exchange Commission (the
"SEC"). The SEC sets rules that are applicable
to domestic United States
reporting companies. Consequently, Mineral Reserves and Mineral
Resources information included in this news release is not
comparable to similar information that would generally be disclosed
by domestic U.S. reporting companies subject to the reporting and
disclosure requirements of the SEC. Accordingly, information
concerning mineral deposits set forth herein may not be comparable
with information made public by companies that report in accordance
with U.S. standards.
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SOURCE Kootenay Silver Inc.