VANCOUVER, British Columbia,
June 4, 2013 /PRNewswire/ --
Kootenay Silver Inc. (TSX VENTURE: KTN.V) ("Kootenay" or
the "Company") is pleased to announce assay results from drill
holes DH 141 to 188 as part of its Phase V drill and resource
expansion program on its flagship Promontorio Silver Project in
Sonora, Mexico.
Drilling Highlights:
DH 186
- 301 gpt Silver Eqv. Over 31.7 Meters (200 gpt Ag, 1.21
gpt Au and 1.79% Pb+Zn);
- Including 1,046 gpt Silver Eqv. Over 5.0 Meters
(808 gpt Ag, 1.83 gpt Au and 6.88% Pb+Zn)
- Including 300 gpt Silver Eqv. Over 7 Meters
(233 gpt Ag, 0.62 gpt Au and 1.6% Pb+Zn)
DH 185
- 274 gpt Silver Eqv. Over 18.4 Meters (208 gpt Ag, 0.92
gpt Au and 0.79% Pb+Zn);
- Including 1,106 gpt Silver Eqv. Over 3.0 Meters
(1,023 gpt Ag, 0.92 gpt Au and 1.66% Pb+Zn)
DH 188
- 124 gpt Silver Eqv. Over 20.3 meters (59 gpt Ag, 0.84
gpt Au and 1.0% Pb+Zn)
DH 183
- 188 gpt Silver Eqv. Over 6 meters (111 gpt Ag, 0.49 gpt
Au and 2.48% Pb+Zn)
- 161 gpt Silver Eqv. Over 7.1 meters (98 gpt Ag, 0.61 gpt
Au and 1.5% Pb+Zn)
States Kootenay President and CEO James McDonald, "We are very pleased with
current assays returned from drilling. Not only do results from
Holes such as 186 and 185 represent some of the highest grades
drilled to date, they occur in an area between the North East and
Pit zones where these grades were not expected. This underscores
the potential to delineate additional high-grade silver zones
within the diatreme system. This new area of high-grade silver
mineralization is open along strike and dip directions and appears
to be on strike with other high-grade intercepts previously
returned from drilling in the North East Zone."
A CEO interview video is available for view on the following
site: http://www.kootenaysilver.com/s/Video.asp
Table of the full results follows:
*AgEq
Hole ID Target From To Interval (Ag,Au, Ag Au Pb Zn Pb+Zn
(m) (m) (m) Pb,Zn)(gpt)(gpt) (%) (%) (%)
(gpt)
DH-183-13 NE Zone 120.5 122 1.5 162 69 0.01 0.63 4.02 4.65
DH-183-13 NE Zone 187.25 194.35 7.1 161 98 0.61 0.62 0.88 1.5
DH-183-13 NE Zone 213 219 6 188 111 0.49 1.23 1.24 2.48
DH-183-13 NE Zone 228 229 1 107 73 0.08 0.94 0.5 1.44
DH-184-13 NE Zone 218.4 223.9 5.5 93 42 0.73 0.25 0.36 0.61
DH-184-13 NE Zone 234.15 236.42 2.3 72 11 1.01 0.26 0.09 0.35
DH-184-13 NE Zone 283 297 14 65 29 0.27 0.5 0.55 1.06
including NE Zone 286 289 3 169 89 0.4 1.42 1.43 2.85
DH-184-13 NE Zone 306 320 14 54 22 0.25 0.43 0.52 0.94
DH-185-13 NE Zone 185.5 191.5 6 136 92 0.69 0.12 0.24 0.36
DH-185-13 NE Zone 197.5 215.9 18.4 274 208 0.92 0.35 0.44 0.79
including NE Zone 201.55 204.55 3 1106 1023 0.92 1.07 0.59 1.66
including NE Zone 207.55 210.55 3 330 142 2.54 0.78 1.81 2.58
DH-186-13 NE Zone 164.8 166.3 1.5 98 81 0.15 0.28 0.15 0.42
DH-186-13 NE Zone 178.3 210 31.7 301 200 1.21 0.88 0.91 1.79
including NE Zone 183 188 5 1046 808 1.83 3.02 3.87 6.88
including NE Zone 192 199 7 300 233 0.62 1 0.6 1.6
including NE Zone 202 209 7 222 62 2.58 0.54 0.52 1.06
DH-186-13 NE Zone 256 258 2 62 4 1.06 0.07 0.05 0.12
DH-188-13 NE Zone 149.7 151.6 1.9 53 35 0.22 0.11 0.21 0.32
DH-188-13 NE Zone 158.5 178.8 20.3 124 59 0.84 0.46 0.54 1
DH-188-13 NE Zone 234.65 239.15 4.5 107 23 1.29 0.29 0.45 0.75
DH-188-13 NE Zone 288 299 11 79 22 0.29 0.8 1.28 2.08
DH-165-13 B Zone 16.3 17.8 1.5 85 49 0.59 0.1 0.14 0.24
DH-143-13 Dorotea SE 89 93 4 70 29 0.6 0.26 0.19 0.45
DH-143-13 Dorotea SE 101 110 9 54 15 0.38 0.42 0.48 0.9
DH-145-13 Dorotea SE 6 12 6 105 46 0.83 0.49 0.24 0.73
DH-149-13 Dorotea SE 96.15 111.15 15 48 10 0.59 0.12 0.21 0.34
including Dorotea SE 106.15 111.15 5 72 7 1.15 0.07 0.15 0.22
DH-153-13 Dorotea SE 18.25 19.25 1 104 1 1.94 0 0.01 0.01
DH-153-13 Dorotea SE 73.97 77.75 3.8 65 3 1.15 0 0.01 0.02
DH-166-13 Office Zone 397 419 22 30 10 0.19 0.19 0.25 0.45
DH-175-13 Phantom 76.8 79.05 2.3 46 3 0.8 0.04 0.01 0.05
DH-180-13 Phantom 35.2 36.4 1.2 94 4 1.67 0.03 0.02 0.05
DH-141-13 Pit SW Extension 254 258 4 87 20 0.67 0.58 0.94 1.52
DH-141-13 Pit SW Extension 335 336 1 72 16 0.95 0.22 0.04 0.26
DH-144-13 Pit SW Extension 327 328 1 80 41 0.26 0.76 0.42 1.19
DH-148-13 Pit SW Extension 312 321 9 47 17 0.37 0.25 0.27 0.51
DH-148-13 Pit SW Extension 328 331 3 51 24 0.18 0.38 0.47 0.84
DH-156-13 Pit SW Extension 316 339 23 32 14 0.17 0.22 0.24 0.45
DH-160-13 Pit SW Extension 348.2 364 15.8 48 25 0.14 0.34 0.43 0.77
DH-168-13 Pit SW Extension 67.75 71.2 3.5 92 47 0.07 0.87 1.14 2.02
DH-168-13 Pit SW Extension 274 277 3 43 13 0.24 0.23 0.62 0.86
DH-176-13 SW of Pit Farm EM 21 24 3 53 39 0.06 0.11 0.42 0.53
DH-151-13 SW of Pit Farm EM 54 69 15 42 32 0.05 0.24 0.13 0.37
*Assuming 100% Metallurgical Recovery
*Prices used in Silver Equivalent (AgEq) Calculations:
Ag dollars/oz $31.00
Au dollars/oz $1,650.00
Pb dollars/lb $0.97
Zn dollars/lb $0.89
To view map of drill results visit:
http://www.kootenaysilver.com/i/projects/Promontorio/drillresultsmap.pdf
All holes are reported as drill lengths. Because of the
meandering nature of mineralization within breccias and surrounding
stockworks determining dimensions of mineralization is only
possible after numerous holes define the boundaries of mineralized
bodies.
Holes DH 183 to 188 were drilled to follow up mineralization in
an area of wide spaced drilling. The grades occur both within and
outside some of the inferred resource blocks between the Pit and
North East Zones with the grades significantly higher than the
average resource. The holes tested about 115 meters of strike
extent. This area is considered by management to be very
prospective for additional ounces.
Holes have now been drilled testing the western and eastern
extensions of the Pit and North East resource bodies and limited
area between them, the Dorotea area, the Farm EM and B zones to the
southwest of the Pit and the Phantom area.
Drilling indicates the resource is open to expansion to the
northeast, southwest, down dip and in the area between the Pit and
North East zones. Potential also lies in the new Farm EM zone where
oxide silver mineralization has been discovered. Also 4 new targets
have been identified through recent interpretation of resistivity
from the IP survey. These 4 conductors have similar or greater
conductance than the Pit and North East zones
(http://www.kootenaysilver.com/i/projects/Promontorio/Targetareas.pdf)
within areas of known mineralization along the main Promontorio to
Dorotea trend. There is only a single drill hole testing one
of these targets and it indicates the conductor is mapping
mineralization. The new geophysical interpretation indicates that
the best areas within this trend may not have been drilled.
The Phantom and B Zone areas are interpreted to be the upper
levels of the system above or lateral to the best
mineralization.
These numerous target areas will be tested with further
drilling. A break in the drilling is now being taken while all
results are compiled into sections and surface mapping and
geophysical targets are being incorporated into prioritizing the
next set of drill holes. On completion the next stage of the
current Phase V drill program will recommence. A total of 16,300
meters of the Phase V program have now been completed in 68 holes.
All assays for samples taken to date in Phase V have now been
reported. These are for holes DH 121 to DH 188. Various targets
were tested with a total of 32 holes reporting composited
mineralized intervals and 36 holes returning either insignificant
results or weakly anomalous results.
Current NI 43-101 Compliant Silver
Resource
The most recent mineral estimate on Promontorio (See Kootenay
News Release---May 14, 2013) contains
a combined Measured and Indicated silver resource of 92,428,000
silver equivalent ounces (39.9M oz's Ag, 508K oz's Au, 394.8M
lb's Pb, 462.2M lb's Zn). In addition to the measured and indicated
silver resources, there are an additional 26,814,000 silver
equivalent ounces in the Inferred category (12.8M oz's Ag, 147
oz's Au, 99.5M lb's Pb, 109.1M lb's Zn). Measured and Indicated
resources are contained in open pit resources of 44,504,000 tonnes
grading an average of 64.32 gpt silver equivalent (27.77 gpt Ag,
0.35 gpt Au and 0.87% Pb+Zn) and resources outside of the open pit
of 215,000 tonnes grading an average of 56.96 gpt silver equivalent
(22.89 gpt Ag, 0.28 gpt Au and 0.95% Pb+Zn). Inferred resources are
within open pit resources of 14,564,000 tonnes grading an average
of 51.95 gpt silver equivalent (24.95 gpt Ag, 0.28 gpt Au and 0.59%
Pb+Zn) and resources outside of the open pit of 1,265,000 tonnes
grading an average of 61.17 gpt silver equivalent (26.57 gpt Ag,
0.37 gpt Au and 0.74% 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.
QA/QC
The majority of holes were drilled with HQ sized diamond drill
core with some sections reduced down to NQ sized core. Core samples
were cut using a core saw with 1 to 2 meter long sample intervals.
A select few holes drilled using reverse circulation methods were
included in the resource estimation, but generally in the areas of
more widely-spaced drilling between the two primary zones. Further
Quality Assurance and Control procedures and details on assays
procedures and laboratories used are disclosed on the Kootenay
Silver Inc. website.
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.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this
release. 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.
For further information:
James McDonald, CEO and
President at +1-403-238-6986
Investor Relations at +1-604-601-5652; +1-888-601-5650
or visit: http://www.kootenaysilver.com
