KOOTENAY SILVER INC. VANCOUVER, BC, June 7, 2021 /PRNewswire/ - Kootenay Silver Inc. (TSXV: KTN) (the "Company" or "Kootenay") is pleased to announce results from five additional core holes recently completed on the 5 Señores Vein at the Copalito silver-gold project (the "Property"), located in Sinaloa State, Mexico.
James McDonald, President and CEO, states "The 5 Señores Vein is proving to be a well mineralized structure with excellent potential to host significant gold and silver resources. Drilling has now tested 600 meters of the 1 kilometer known vein strike on surface. Ten of the twelve holes drilled less than 100 meters from surface indicate that mineralization remains open along strike and to depth providing lots of room for expansion."
Highlights from Holes BDH-21-045 to BDH-21-049 include:
BDH-21-045
- 325.59 gpt silver equivalent ("Eq.") over 1.31 meter within 126.51 gpt silver Eq. over 8.35 meters
- This hole tested the 5 Señores Vein at a depth of about 26 meters vertically below surface.
BDH-21-046
- 3,488.77 gpt silver Eq. over 0.22 meters within 306.04 gpt silver Eq over 19.43 meters
- BDH-21-046 is a test 25 meters directly below BDH-21-045.
BDH-21-047
- 114.56 gpt silver Eq. over 1.00 meter
- Parallel vein to 5 Señores Vein
- 5 Señores Vein is displaced by a fault and not intercepted.
BDH-21-48
- 288.60 gpt silver Eq. over 2.2 meters within 12 meters grading 96.05 gpt silver Eq.
- 5 Señores Vein of quartz, chalcedony and calcite.
BDH-21-49
- 248.07 gpt silver Eq. over 1.68 meters within 79.19 gpt silver Eq. over 10 meters
- 5 Señores Vein.
Thus far 12 holes have tested 600 meters of strike and 175 meters of dip extent to depth with vein mineralization open along strike and to depth. Only 2 holes have drill tested a depth greater than 100 meters vertically from surface although topographic relief has enabled testing to 175 meter down dip.
Click here to view 5 Señores Plan Map.
The 5 Señores vein is comprised of a mineralized structure with two parallel veins. These veins are comprised of both silicified breccia and classic banded quartz, quartz-calcite and calcite veining. The polymetallic veins are hosted in a volcanic andesite sequence with weak propylic alteration within faults and contact with a dioritic intrusive to the southwest. The veins are mainly quartz, with massive and crustiform textures and quartz-chalcedony bands. Dark gray bands indicate the presence of sulfides in these textures. Also local zones of carbonates mainly calcite can also carry very high grades of precious metals.
Mineralization is comprised of disseminated pyrite of 1% or less with varying amounts of sphalerite (<1 to 5%), galena (<1 to 3%) and probable acanthite.
Click to view cross sections and the 5 Señores Vein long section.
Drill Results – Holes BDH-21-045 to BDH-21-049
Hole ID | From (meters) | To (meters) | Interval (meters) | Silver (gpt) | Gold (gpt) | Lead+ Zinc (%) | Silver Eq. (gpt) | Vein |
BDH-21-045 | 20.3 | 28.65 | 8.35 | 74.9 | 0.6 | 0.06 | 126.51 | 5 Señores |
Include | 20.3 | 22 | 1.70 | 43.2 | 2.563 | 0.81 | 217.87 | |
Include | 24.5 | 25.81 | 1.31 | 264.0 | 0.234 | 2.26 | 325.59 | |
BDH-20-046 | 35.04 | 54.47 | 19.43 | 217.8 | 0.83 | 1.48 | 306.04 | 5 Señores |
Include | 46.5 | 54.47 | 7.97 | 330.4 | 1.235 | 1.96 | 456.13 | |
46.5 | 46.72 | 0.22 | 3160.0 | 2.27 | 7.84 | 3488.77 | ||
63 | 78 | 15.00 | 61.3 | 0.752 | 0.39 | 119.27 | ||
Include | 63 | 65 | 2.00 | 220.0 | 3.795 | 0.37 | 475.17 | |
BDH-21-047 | 59 | 60 | 1.00 | 103.0 | - | 0.49 | 114.56 | 5 Señores |
BDH-21-048 | 51 | 63 | 12.00 | 66.3 | 0.17 | 0.81 | 96.05 | 5 Señores |
56.3 | 58.5 | 2.20 | 240.8 | 0.423 | 0.85 | 288.60 | ||
56.3 | 56.76 | 0.46 | 335.0 | 1.035 | 0.55 | 415.39 | ||
77.12 | 57.39 | 0.27 | 318.0 | 0.788 | 2.97 | 439.26 | ||
BDH-21-049 | 39 | 49 | 10.00 | 65.2 | 0.106 | 0.30 | 79.19 | 5 Señores |
40.32 | 42 | 1.68 | 210.1 | 0.448 | 0.38 | 248.07 | ||
45 | 46 | 1.00 | 187.0 | 0.137 | 0.29 | 202.72 |
* Silver equivalent based on 65:1 silver to gold ratio, $1/lb zinc, $0.8/lb lead | |
Note: Estimated true widths range from 50 to 70% of drilled widths depending on dip of the vein and inclination of the hole. All silver composites rounded to the nearest whole number |
About the Copalito Property
The Copalito Project is a classic low sulphidation epithermal vein system which has numerous small old workings and no evidence or reports of historic exploration drilling. The Property consists of seven concessions totaling approximately 3,700 hectares and is located 35 kilometers east of McEwen Mining's "El Gallo Mine" complex in Sinaloa State, along the western fringes of the Sierra Madre Occidental in northwestern Mexico. The Copalito Project has good access, topography and infrastructure.
Copalito Geology
Mineralization is hosted within classic low sulfidation epithermal quartz and rare calcite veins. Multiple mineral events are evidenced by banded mineralized textures, multiple cross cutting veins/veinlets, laminated banding of chalcedonic and crystalline quartz, sulfide replacement and infillings of breccia matrix. Sulfide content is generally low but does range to 20% or more in hand samples. Sulfides and their oxide equivalents include fine grained pyrite, black and yellow sphalerite, galena, chalcopyrite and silver sulphosalts. Some zonation is becoming apparent with veins in the northeast being higher in gold and base metals and those in the south being high in silver and low in base metals.
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.
Sampling and QA/QC
All technical information for the Copalito 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 Hermosillo, Sonora. The samples are dried, crushed and pulverized with the pulps being sent airfreight for analysis by ALS in North 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, 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.
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 the states of Sonora, Sinaloa and Chihuahua, Mexico, respectively.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at June 6, 2021. 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.
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