Kootenay Silver Inc. (TSXV: KTN; OTC: KOOYF) (the "Company" or "Kootenay") reports that it has temporarily suspended the current drill programs at its Columba silver & Copalito silver-gold projects located in the states of Chihuahua and Sinaloa, Mexico. These actions were taken to minimize the potential exposure of the novel coronavirus ("COVID-19") to the Company's employees, contractors, families and communities and to comply with the Mexico Presidential Decree issued March 30, 2020.
Kootenay President and CEO, James McDonald stated: "Although these drill stoppages are unfortunate, it is the responsible course of action to take under the current circumstances. Kootenay will continue to monitor the evolving situation and follow protocols consistent with minimizing the spread of the COVID-19 virus to protect the health of its work force and their local communities. Kootenay is well financed with $6.8 million in cash, no debt and possesses quality silver assets that will continue to strongly position the Company once the markets emerge from this crisis."
Prior to the work stoppage at Columba, the Company completed a total of 1,679 metres over 10 drill-holes of the planned 7,000 metre phase II program. To date, phase II drilling has focused on the historically mined F Vein to define the mineralized strike length and depth extent of the vein. Once the program resumes at Columba, drilling will continue to test F Vein in addition to other priority areas and structures where 2019 drilling intercepted favorable widths and appreciable silver grades. Detailed results for all 2019 drill-holes can be viewed by clicking the following link 2019 Columba Drill Results: ( https://tinyurl.com/wthwnjm ).
At the Copalito silver-gold project, located in Sinaloa State, the Company completed the first hole of a planned 3,000-meter drill program. The first drill-hole, totaling 105.2 meters in length, successfully intercepted the 5 Senores Vein over a drill width of nearly 40 meters. The program is designed to test 6 principal veins at the Property. Previous surface sampling by Kootenay along the veins returned significant silver and gold values over variable widths of 0.5 to 15 meters, (for previously reported samples see KTN news releases dated July 19, September 20, 2018, January 21 and April 10, 2019). To the knowledge of the Company, no previous significant modern exploration or drilling has been conducted at Copalito.
Kootenay intends to resume these programs once the health risk due to COVID-19 allows.
Results from the drilling completed to date, will be announced once the assays are received and interpreted by the Company.
Sampling and QA/QC Surface samples reported herein are a combination of grab, chip and panel chip. All technical information for the Columba and Copalito exploration programs are obtained and reported under a formal quality assurance and quality control ("QA/QC") program. Samples are taken under the direction of qualified geologists. Samples are then labeled placed in plastic bags, sealed and with interval, location and sample numbers recorded. Samples are delivered by the Company via courier to ALS Minerals ("ALS") in Hermosillo. 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.
Qualified Persons The Kootenay scientific and 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 Kootenay by James McDonald, P.Geo, President, CEO & Director for Kootenay, a Qualified Person.
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 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 two of its priority silver projects located in prolific mining districts in Sonora, State and Chihuahua, State, Mexico, respectively.
On Behalf of the Board of Directors of
KOOTENAY SILVER INC. "James McDonald" President & CEO
For additional information, please contact: James McDonald, CEO and President at 403-880-6016 Ken Berry, Chairman at 604-601-5652; 1-888-601-5650 or visit: https://kootenaysilver.com
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.
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