VANCOUVER, BC, May 21, 2024
/CNW/ - Kootenay Silver Inc. (TSXV: KTN) (the "Company"
or "Kootenay") is very pleased to announce results from
the first six drill holes targeting the eastern extension of the
D-Vein target.
Four of the first six holes (CDH-24-148 to 151) were
deliberately drilled at shallow levels to establish dip orientation
of the vein before testing the deeper productive zone. Outcrop
exposure is limited in the drilling area and initial holes drilled
for structure followed by holes CDH-24-152 and 153 that drilled for
grade at a significant 200 meter step out from previous intercepts
at a comparable depth.
Holes CDH-24-152 and 153 targeted D-Vein at or below the
important elevation of 1750 meters above sea level below which, as
a rule of thumb at Columba Project, high silver grades are
encountered. These two holes are on the same fence and are both
very large step outs of 200 meters from the nearest intercept below
1750m elevation (CDH-23-147). and
both intercepted mineralization in the D-vein. The two holes
are 150 meters apart in the dip direction.
Holes CDH-24-152 to 153 increase the previously
established 450 meter strike length to 650 meters between
holes CDH-23-136 to 137 and CDH-24-152 to 153.
Highlights
CDH-24-153
- 435 gpt silver over 11 meters drilled width/3.52
meters estimated true width within 183 gpt silver over 40
meters drilled width/12.96 meters estimated true width
- 920 gpt silver assay high over 1.35 meters drilled
width/0.43 meters est. true width
- Very large lateral step out along strike from nearest holes at
similar elevation around 1600 to 1675m.
- ~325 meters from CDH-23-145 (22 meters/15.4 meters est.
true width of 174 gpt silver with 6 meters/4.2 meters est. true
width of 435 gpt silver and 1 meter of 814 gpt
silver)1
- ~375 meters from CDH-22-128 (20 meters/13.6 meters est.
true width of 136 gpt silver with 2 meters of 520 gpt
silver)2
CDH-24-152
- Large step out along strike of previous drilling.
- Tests the upper edge of high grade zone near 1775 meter above
seal level
- ~ 200 meters along strike of CDH-23-147 (532
gpt silver over 8 meters drilled/4.96 meters est. true width
within 219 gpt silver over 28 meters)3
- ~ 150 meters up dip of CDH-24-153
- 347 gpt silver over 5.6 meters drilled/3.36
meters est. true width within 240 gpt silver over 9.0 meters
drilled /5.4 meters est. true width.
- 492 gpt silver over 2.65 meters drilled/1.59 meters
est. true width.
The current drilling program is designed to find the strike
extent of D-Vein mineralization in preparation of infill drilling
and a now fully funded follow up program of 20,000 meters, aimed to
delineate a maiden resource expected in late 2024. In addition to
the D-Vein, the Company maintains a priority list of new vein
targets and known vein extensions all warranting drill testing.
Kootenay's President & CEO, James
McDonald states, "We increased the magnitude of step outs
on the D-Vein with 100 to 300 meter step outs to great success on
the first few holes. These large step outs along strike and down
dip are rapidly building volume of mineralized vein. We are very
excited to continue stepping out and are preparing to add a drill
rig to test high priority targets while one will remain dedicated
to step out then infill drilling of D-Vein."
Drill highlights, maps and sections from the project are
tabulated on the Company's website at the links below
Click to view the drill plan, long section, and cross
sections.
Table 1. D Vein Intercepts from shallow drilling
Hole
ID
|
From
(meters)
|
To
(meters)
|
Interval
(meters)
|
Est. True
width
|
Silver
gpt
|
Pb
%
|
Zn%
|
Geologic
Intersection
|
CDH-24-148
|
92.00
|
97.00
|
5.00
|
2.50
|
47
|
0.01
|
0.01
|
D-Vein
|
CDH-24-149
|
226.50
|
228.00
|
1.50
|
0.75
|
53
|
0.01
|
0.15
|
|
CDH-24-150
|
no
|
significant
|
intervals
|
|
|
|
|
D Vein at 153-
157.5m
|
CDH-24-151
|
123.00
|
148.50
|
22.5 *
|
12.00
|
72.5
|
0.02
|
0.05
|
D-Vein
|
Includes
|
126.00
|
129.00
|
|
|
|
|
|
Cavern
|
and
|
130.50
|
141.30
|
10.80
|
6.16
|
140
|
0.04
|
0.05
|
D-Vein
|
Includes
|
136.00
|
137.00
|
1.00
|
0.57
|
223
|
0.03
|
0.06
|
D-Vein
|
|
|
|
|
|
|
|
|
|
Table 2. Highlights of Drill holes Targeting D-Vein Below
1750m elevation
Hole
ID
|
From
(meters)
|
To
(meters)
|
Interval
(meters)
|
Est. True
width
|
Silver
gpt
|
Pb
%
|
Zn%
|
Geologic
Intersection
|
CDH-24-152
|
140.00
|
170.00
|
30.00
|
18.00
|
83
|
0.05
|
0.17
|
D-Vein
System
|
includes
|
148.00
|
157.00
|
9.00
|
5.40
|
240
|
0.14
|
0.42
|
D-Vein
System
|
includes
|
150.40
|
156.00
|
5.60
|
3.36
|
347
|
0.20
|
0.60
|
D-Vein
|
Includes
|
151.50
|
154.15
|
2.65
|
1.59
|
492
|
0.40
|
1.05
|
D-Vein
|
Includes
|
152.00
|
153.00
|
1.00
|
0.60
|
539
|
0.30
|
1.60
|
D-Vein
|
CDH-24-153
|
275.50
|
316.00
|
40.50
|
12.96
|
183
|
0.01
|
0.22
|
D-Vein
System
|
includes
|
300.00
|
311.00
|
11.00
|
3.52
|
481
|
0.02
|
0.68
|
D-Vein
|
includes
|
309.00
|
310.35
|
1.35
|
0.43
|
920
|
0.80
|
3.30
|
D-Vein
|
As previously mentioned, results discussed herein represent the
first series of holes designed as aggressive step outs along the
D-Vein structure in a region where the structure is not visible at
surface. Holes CDH-24-148 to CDH-24-151 successfully
intersected the target at shallow depths, above the projected upper
horizon of strong mineralization. These holes will provide
invaluable information for subsequent drilling targeting high grade
mineralization. Holes CDH-24-152 and CDH-24-153 intersected the D
Vein at a deeper levels and silver grades returned were
correspondingly higher.
The company has completed over 30,000 meters of diamond drilling
in 153 holes at Columba since 2019 and intercepted numerous veins
with high silver grades and widths indicating excellent resource
potential. Prospective veins on the project are hosted within a
volcanic caldera setting, the surface extent of mapped veins
measuring roughly 4 kilometres by 3 kilometres. Management believes
that Columba may be a newly recognized vein district that is nearly
entirely preserved from erosion.
A comprehensive list of drill results completed on the Columba
Property since 2019 may be viewed here: Columba Drill Results.
Sampling and QA/QC at Columba
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 intervals at an average 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 was completed by Globextools, S.A. de C.V.
of Hermosillo, Sonora,
Mexico.
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 Mr. Dale Brittliffe, BSc. P. Geol., Vice President, Exploration
of Kootenay Silver, is the Company's nominated Qualified Person
pursuant to National Instrument 43-101, Standards for Disclosure
for Mineral Projects, has reviewed the scientific and technical
information disclosed in this news release. Mr. Brittliffe is not
independent of Kootenay Silver.
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:
The information in this news release has been prepared as at
May 20, 2024. 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.
________________________________
|
1 Previously released December 7,
2023. Drilled width with estimated true width 65 to 80% of
drilled.
|
2 Previously released September 8,
2022. Drilled width with estimated true width 65 to 85% of
drilled.
|
3 Previously released December 14,
2023. Drilled width with estimated true width 45 to 50% of
drilled.
|
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SOURCE Kootenay Silver Inc.