Monday, November 28, 2016 11:47:18 AM
Kootenay Silver Announces New Drill Discovery Proximal to La Cigarra Silver Deposit
Multiple Intercepts of Silver Mineralization Confirmed Across 400-Meter Strike Length
Highlights Include 89.83 gpt Silver over 18.0 Meters; Including 190 gpt Silver over 3.0 Meters
VANCOUVER, Nov. 23, 2016 /CNW/ - Kootenay Silver Inc. (TSXV:KTN.V; OTC:KOOYF - News) (the "Company" or "Kootenay") is pleased to announce results from the first 11 holes of its maiden drill program on its RAM structure, situated approximately 700 meters to the west and south of the Company's La Cigarra silver deposit in Chihuahua State, Mexico.
The program drill tested a 400-meter strike length of the 3,800-meter long RAM structure and dip extents between 65 and 200 meters. Assay results from drilling confirm RAM is a strongly mineralized silver system, hosting multiple zones of quartz veining as sheeted, stockworked or brecciated veins within an altered structure that measures 50 to 150 meters wide. The Company reports the system remains open along strike to the north and south for up to 3,400 meters and down dip to the west.
Kootenay President and CEO James McDonald states, "Results from the first 11 holes of the program confirm RAM is an entirely new silver discovery and development of this mineralized structure will remain a top priority for the Company. The strength and consistency of veining within the structure bodes well for the discovery of further silver resources at depth and along both strike directions. Drilling returned good continuity of silver grades across a 400-meter strike length and widespread silver mineralization was encountered in all but two of the eleven holes, confirming the structure's large-scale potential. Moving forward, the close proximity of the RAM structure to our established La Cigarra silver resource offers excellent potential for future shared infrastructure and economies of scale, as we continue to develop RAM and advance our main La Cigarra deposit towards the economic stage."
Drill Highlights from RAM Zone:
* CC-16-04 returning 89.83 gpt silver over 18.0 meters; including 190.5 gpt silver over 3.0 meters
* CC-16-09 returning 166.5 gpt silver over 6.0 meters;
including 761.0 gpt silver over 1.0 meter
* CC-16-03 returning 58.86 gpt silver over 16.5 meters; including 141.25 gpt silver over 4.5 meters
* CC-16-01 returning 27.60 gpt silver over 31.1 meters; including 83.0 gpt silver over 4.45 meters
* CC-16-06 returning 56.45 gpt silver over 14.7 meters; including 80.14 gpt silver over 9.35 meters
The RAM structure is one of 8 prospective targets that have been identified proximal to the La Cigarra deposit with the potential to add near surface silver resources to the project. Click to view: the RAM drill plan and cross sections of holes 6, 7, 8 and 9. ( http://tinyurl.com/jtpjqgy )
Drilling Notes:
The 11 drill holes are the first phase of a planned, ongoing multi-phase drilling program that will be conducted on the La Cigarra project over the next 12 to 18 months. Follow up drilling of the 3,800 meter long RAM structure is expected to commence in the early part of the New Year and will form part of a larger strategy to test additional undrilled targets and the extensions of the La Cigarra deposit itself.
The Company reports that drilling continues at the Project with the core drill rig collared at hole 14 within the La Soledad Zone, located approximately 1,000 meters south of the La Cigarra silver resource. Once the current 3,000 meter drill program is complete and results of re logging and detailed mapping of the deposit are interpreted, the details and dates of the anticipated follow up programs will be finalized and announced in a future news release.
A summary of the drilling within the mineralized zone are given in the table below:
(Click on link below to view)
Sampling and QA/QC
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 under the direction of qualified geologists and stored in sealed bags. 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 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.
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.
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. The Company's top priorities are the advancement of the La Cigarra silver project and the Promontorio Mineral Belt, in Chihuahua, Mexico and Sonora, Mexico, respectively. The La Cigarra property is 26 kilometers from the historic mining city of Parral and boasts nearby power, good road access, gentle topography, and established infrastructure. La Cigarra currently hosts a resource estimate of 18.54 million tonnes containing 51.47 million ounces of silver in the Measured & Indicated categories grading 86.3 g/t silver and 4.45 million tonnes containing 11.46 million ounces of silver in the Inferred category grading 80 g/t silver. The mineralized system at La Cigarra has been traced over 6.5 kilometers and is defined at surface as a silver soil anomaly and by numerous historic mine workings. The La Cigarra silver deposit is open along strike and at depth and is approximately 25 kilometers north, and along strike, of Grupo Mexico's Santa Barbara mine and Minera Frisco's San Francisco del Oro mine. The Promontorio Mineral Belt includes the Company's La Negra high-grade silver discovery and its Promontorio Silver Resource. The Promontorio Mineral Belt is under option to Pan American Silver whereby they can earn a 75% interest in the project with US$16 million of expenditures and payments with Kootenay retaining a 25% carried to production interest (see news release February 16 and March 4, 2016). The Promontorio Silver Resource currently hosts a resource estimate of 44.5 million tonnes containing 92 million ounces of silver equivalent in the Measured & Indicated categories grading 64.3 g/t silver equivalent and 14.6 million tonnes containing 24.3 million ounces of silver equivalent in the Inferred category grading 52 g/t silver equivalent. The Company's core objective is to create value by acquiring silver resources through discovery and acquisition and testing those resources with the ultimate goal of developing them into silver production if they are proven to be economically viable.
Contact:
James McDonald, CEO and President at 403-880-6016;
Ken Berry, Chairman at 604-601-5652; 1-888-601-5650
or visit:
http://www.kootenaysilver.com
https://ca.finance.yahoo.com/news/kootenay-announces-drill-discovery-proximal-140000785.html
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