Kootenay Silver: Step-Out Drilling on Promontorio Hits 104 gpt Silver Eqv (81 gpt Ag and 0.97% Pb+Zn) Over 10 meters, Including 3 Meters Grading 246 gpt Silver Eqv (176 gpt Ag and 3.04% Pb+Zn) and 9 Meters Grading 47 gpt Silver Eqv (33 gpt Ag and 0.60% Pb+Zn) in New Discovery Zone
Shares Outstanding: 56,488,850
VANCOUVER, British Columbia, March 13, 2013 /PRNewswire/ -- Kootenay Silver Inc. (TSX VENTURE:KTN.V; OTC:KOOYF) is pleased to announce results from an additional 11 holes from its ongoing 30,000 meter, multi-phase drill and resource expansion program on its flagship Promontorio Silver Project in Sonora, Mexico. The holes are step-out and exploratory holes testing 3 different target areas. Included is the extension of the Pit resource to the southwest and west, the Farm EM zone to the north and the Farm EM zone to the south.
Highlights Include:
Farm EM Zone
• Discovery of a new oxide zone of mineralization 350 to 400 meters to the southwest of the Pit Resource. Drilling intercepted 3 separate intervals in the new zone, including DH 135, which returned 104 gpt Silver Eqv (81 gpt Ag and 0.97% Pb+Zn) over 10 meters, including 3 meters grading 246 gpt Silver Eqv (176 gpt Ag and 3.04% Pb+Zn)
• DH 140 returned 9 meters of 47 gpt Silver Eqv (33 gpt Ag and 0.60% Pb+Zn)
North of Pit Resource
• DH 129 intercepted 2 intervals including 60 meters returning 58 gpt Silver Eqv (31 gpt Ag and 1.18% Pb+Zn) including 22 meters of 96 gpt Silver Eqv (50 gpt Ag and 1.96% Pb+Zn) and 4 meters of 57 gpt Silver Eqv (33 gpt Ag an 1.03% Pb+Zn)
• DH 137 returned 3 different intercepts approximately 50 to 75 meters up dip of DH 129 including 21 meters of 39 gpt Silver Eqv (22 gpt Ag and 0.72% Pb+Zn, 15 meters of 52 gpt Silver Eqv (31 gpt Ag and 0.91% Pb+Zn)
States Kootenay CEO James McDonald: "We are very pleased with results from step-out drilling. Assays returned a series of encouraging intercepts from a newly discovered mineralized zone in the Farm EM target area, which sits over 350 meters to the southwest of the Pit resource and remains open in several directions. Additionally, mineralization in the Pit resource continues to open up to the north and west. Ongoing drilling and technical analysis will continue to focus on delineating the extent of mineralization in the Pit area and on determining the geometry of the new zone and its relation to the Pit Resource mineralization."
Table of the full results follows:
13-March-13 News Release
*AgEq
Hole ID Target From To Interval (Ag,Pb,Zn) Ag Pb Zn Pb+Zn
(m) (m) (m) (gpt) (gpt) (%) (%) (%)
North of
DH-129-13 Pit 283 287 4 57 33 0.39 0.63 1.02
North of
DH-129-13 Pit 319 379 60 58 31 0.58 0.6 1.18
North of
including Pit 354 376 22 96 50 1.01 0.96 1.96
Farmhouse
DH-135-13 EM 40 54 14 39 37 0.06 0.03 0.08
Farmhouse
DH-135-13 EM 63 72 9 50 45 0.06 0.13 0.19
Farmhouse
DH-135-13 EM 83 93 10 104 81 0.59 0.38 0.97
Farmhouse
including EM 86 89 3 246 176 1.87 1.17 3.04
Farmhouse
DH-136-13 EM 266 268 2 132 66 1.04 1.85 2.89
North of
DH-137-13 Pit 234 255 21 39 22 0.31 0.4 0.72
North of
DH-137-13 Pit 283 298 15 52 31 0.45 0.46 0.91
North of
DH-137-13 Pit 337 344 7 33 17 0.32 0.41 0.73
Farmhouse
DH-140-13 EM 19 28 9 47 33 0.01 0.59 0.60
Holes 130 to 134, 138 and 139 contained no significant results or only anomalous values. All holes displayed alteration and were within the mineral system. DH 133 was stopped short of the projected mineralization in DH 129.
*Assuming 100% Metallurgical Recovery
*Prices used in Silver Equivalent (AgEq) Calculations:
Ag dollars/oz $28.90
Pb dollars/lb $1.00
Zn dollars/lb $0.95
To view map of drill results visit: http://www.kootenaysilver.com/s/DrillResults.asp
In addition to the Ag, Pb, Zn results returned from drilling, the following gold grades detailed in the chart below were also encountered. Recent metallurgical and oxidation testing has shown that there is potential to recover gold in the Promontorio system through an oxidation process. As a result, the gold is now being reported in a separate table. While additional technical work is required to further assess the logistics and economic viability of this process and how it pertains to the Promontorio resource, the Company feels at this time that it is prudent to begin recognizing the gold component of the resource as a potential future benefit. Additional technical and metallurgical testing on the gold is underway and will be reported once received.
Table 2 Showing Results with Gold Assays Included:
13-March-13 News Release
*AgEq
Hole ID Target From To Interval (Ag,Au,Pb,Zn) Ag Au Pb Zn Pb+Zn
(m) (m) (m) (gpt) (gpt) (gpt) (%) (%) (%)
North of
DH-129-13 Pit 283.00 287.00 4 94 33 0.73 0.39 0.63 1.02
North of
DH-129-13 Pit 319.00 379.00 60 81 31 0.45 0.58 0.60 1.18
North of
including Pit 354.00 376.00 22 132 50 0.71 1.01 0.96 1.96
Farmhouse
DH-135-13 EM 40.00 54.00 14 40 37 0.02 0.06 0.03 0.08
Farmhouse
DH-135-13 EM 63.00 72.00 9 52 45 0.05 0.06 0.13 0.19
Farmhouse
DH-135-13 EM 83.00 93.00 10 113 81 0.17 0.59 0.38 0.97
Farmhouse
including EM 86.00 89.00 3 274 176 0.54 1.87 1.17 3.04
Farmhouse
DH-136-13 EM 266.00 268.00 2 144 66 0.23 1.04 1.85 2.89
North of
DH-137-13 Pit 234.00 255.00 21 57 22 0.35 0.31 0.40 0.72
North of
DH-137-13 Pit 283.00 298.00 15 86 31 0.65 0.45 0.46 0.91
North of
DH-137-13 Pit 337.00 344.00 7 51 17 0.34 0.32 0.41 0.73
Farmhouse
DH-140-13 EM 19.00 28.00 9 79 33 0.63 0.01 0.59 0.60
29-Jan-13 News Release
*AgEq
Hole ID Target From To Interval (Ag,Au,Pb,Zn) Ag Au Pb Zn Pb+Zn
(m) (m) (m) (gpt) (gpt) (gpt) (%) (%) (%)
DH-121-12 NE Zone 149.00 169.00 20 53 19 0.38 0.28 0.33 0.62
including NE Zone 154.00 155.00 1 320 111 2.81 1.52 1.28 2.80
DH-121-12 NE Zone 182.00 187.00 5 59 19 0.50 0.28 0.35 0.62
DH-121-12 NE Zone 249.00 253.00 4 142 43 1.39 0.47 0.74 1.21
DH-121-12 NE Zone 324.00 327.00 3 103 84 0.22 0.05 0.29 0.34
DH-121-12 NE Zone 484.00 531.00 47 74 31 0.23 0.67 0.66 1.32
including NE Zone 504.00 521.00 17 111 48 0.32 1.02 0.98 2.00
DH-122-12 NE Zone 132.00 136.00 4 43 19 0.11 0.75 0.04 0.78
DH-122-12 NE Zone 264.00 270.00 6 74 33 0.29 0.53 0.59 1.12
DH-123-12 NE Zone 268.00 273.00 5 53 27 0.35 0.29 0.03 0.32
DH-123-12 NE Zone 316.00 322.00 6 173 34 1.72 1.34 0.82 2.16
DH-124-12 NE Zone 318.00 323.00 5 224 89 1.39 1.29 1.45 2.74
DH-124-12 NE Zone 338.00 342.00 4 60 25 0.24 0.35 0.61 0.97
DH-124-12 NE Zone 348.00 376.00 28 54 18 0.31 0.43 0.46 0.89
including NE Zone 357.00 363.00 6 108 36 0.55 1.00 0.88 1.89
DH-124-12 NE Zone 385.00 405.00 20 53 19 0.33 0.40 0.34 0.73
including NE Zone 387.00 390.00 3 208 74 1.53 1.39 1.00 2.40
DH-125-12 NE Zone 131.00 137.00 6 142 106 0.44 0.32 0.27 0.59
DH-125-12 NE Zone 324.00 327.00 3 69 44 0.20 0.36 0.27 0.63
DH-125-12 NE Zone 342.00 351.00 9 142 31 1.79 0.48 0.35 0.83
DH-125-12 NE Zone 376.00 390.00 14 147 59 1.04 0.74 0.76 1.50
including NE Zone 380.00 383.00 3 310 129 2.15 1.58 1.47 3.06
DH-126-12 NE Zone 89.00 90.00 1 547 491 0.42 0.69 0.79 1.48
At present, three core drills are operating on Promontorio. One rig is currently operating in the Dorotea Zone, a second rig is drilling the Pit Resource northern extension area and a third rig is drilling the new discovery area in the Farm EM zone.
The current 30,000-meter, multi-phase drill and resource expansion program is the largest single drill campaign conducted on Promontorio to date.
Current NI 43-101 Compliant Silver Resource
The most recent updated NI 43-101 mineral estimate on Promontorio (See KOOTENAY News Release - August 21, 2012) contains a combined Measured and Indicated silver resource of 61,679,000 silver equivalent ounces (37.5M oz's Silver, 372M lb's Lead, 436.9M lb's Zinc). In addition to the measured and indicated silver resources, there are an additional 14,469,000 silver equivalent ounces in the Inferred category (9.6M oz's Silver, 77.6M lb's Lead, 85.3M lb's Zinc). (Measured and Indicated resources are contained in open pit resources of 36,018,000 tonnes grading an average of 51.35 gpt silver equivalent (31.18 gpt Ag and 0.98% Pb+Zn) and underground resources of 2,216,000 tonnes grading an average of 48.75 gpt silver equivalent (30.15 gpt Ag and 0.98% Pb+Zn). Inferred resources are within open pit resources of 9,136,000 tonnes grading an average of 42.86 gpt silver equivalent (28.32 gpt Ag and 0.17% Pb+Zn) and underground resources of 3,077,000 tonnes grading an average of 53.90 gpt silver equivalent (35.94 gpt Ag and 0.88% Pb+Zn)).
The foregoing geological disclosure has also been reviewed and verified by Kootenay's CEO, James McDonald, P.Geo (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects). Mr. McDonald is a director of Kootenay.
ABOUT KOOTENAY
Kootenay Silver Inc. is actively developing mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. Its flagship property is the former producing Promontorio Silver mine in Sonora State, Mexico. Kootenay's objective is to develop near term discoveries and long-term sustainable growth. Its management and technical team are proven professionals with extensive international experience in all aspects of mineral exploration, operations and venture capital markets. Multiple, ongoing J/V partnerships in Mexico and Canada maximize potential for additional, new discoveries while maintaining minimal share dilution. For more information, please visit: http://www.kootenaysilver.com
For further information:
James McDonald,
CEO and President at +1-403-238-6986
Ken Berry,
Chairman at +1-604-601-5652; +1-888-601-5650
or visit: http://www.kootenaysilver.com
http://finance.yahoo.com/news/step-drilling-promontorio-hits-104-143600928.html
