Kootenay Silver Inc (KOOYD)

[Alexulf]

Kootenay Resources Reports Survey Results on Moyie Anticline Project in British Columbia, Canada
Kootenay Resources Inc. (the “Company” or “Kootenay”) reports on the results of the magnetotelluric (MT) survey on its Moyie Anticline Project in southeastern B.C. as part of its program to discover a Tier One deposit.

The program was very successful in identifying numerous deep conductive ‘feeder’ zones within which are at least 29 individual strong conductors. Seven of the strongest anomalies are of a size and conductive strength thought to be comparable with that of a large sulfide deposit similar to the expected magnitude of the famous Sullivan Mine.

Figure 1a and 1b, and Figures 2a and 2b show several high priority anomalies, seen as low-resistivity responses extending from depth to the near surface. The figures labeled B show the deep conductive feeders coming from more than 20km of depth while the figures labeled A are near-surface, individual conductive zones of size and strength similar to those of a Sullivan-like deposit. Figure 3 is a plan map showing the locations of the MT anomalies.

Subject to financing, the Company plans to conduct further MT surveying around the stronger and larger anomalies to establish 3D imaging for drill targeting. The resulting targets will be evaluated against Kootenay’s existing database of geological and geochemical information and ranked in order of priority based upon features indicative of Sullivan-style mineralization. Features considered important in the region include local stratigraphy, structure, alteration and geochemical signature. The Company expects to commence drill testing of high priority targets in 2023.

Background

The Moyie Anticline region of the Purcell basin has long been considered prospective for the discovery of base metal deposits similar in style to the world-famous Sullivan deposit, Kimberley, BC. In the fall of 2021, Kootenay commissioned a survey comprising, eighty-six MT stations dispersed across the Moyie Anticline Project area and readings were taken over a period of three to four weeks.

The survey was designed as a first-pass test of the large prospective land package for deep-seated (greater than 5 km depth) conductive ‘feeder’ zones that originate at great depths (> 10km) and continue to shallow depths or even to the surface. In Australia this application of MT surveying has lead to the understanding that detectable, crustal-scale conductive feeder-like zones can host significant ore deposits such as the super-giant polymetallic Olympic Dam Deposit.

This method is proving increasingly useful in mineral exploration by allowing the evaluation of large areas of prospective ground for crustal-scale features that may indicate the presence of hidden ore bodies. Once prospective zones are identified, follow up work including more tightly spaced surveys are expected to increase the resolution to allow for effective drill targeting.

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.

About Kootenay Resources Inc.

KSR is an exploration company actively engaged in the exploration and discovery mineral projects in British Columbia, Canada. The Company was formed as a spin-out of Kootenay Silver Inc. (TSXV: KTN) in which prospective Canadian assets were transferred to Kootenay Resources Inc. The transaction was completed in October of 2021, Kootenay Silver Inc. currently holds ~3.2 million common shares of Kootenay Resources Inc.

On behalf of the board of directors of the Company:

James McDonald,
Director

For additional information, please contact:
James McDonald, Director at 403-880-6016
Raj Kang, Director at 604-601-5650

https://kootenaysilver.com/