Kootenay Silver Inc. {TSX.V: KTN}
Announced recent mapping and sampling results from the ongoing surface exploration at its 100% owned Mecatona Property, located in the Parral Silver Mining District and southeast of the Company’s flagship La Cigarra Project in Chihuahua State, Mexico.
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PROPERTY, PARRAL SILVER MINING DISTRICT, MEXICO
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Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) is pleased to announce recent mapping and sampling results from ongoing surface exploration at its 100% owned Mecatona Property (the “Property”), located in the Parral Silver Mining District and southeast of the Company’s flagship La Cigarra Project in Chihuahua State, Mexico.
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Reconnaissance exploration recently completed at the Mecatona Property was successful in the discovery of a previously unknown silver, copper, gold zone hosted in pervasive skarn-altered Lower Cretaceous turbidites of the Mezcalera Group. Silver, copper, gold and anomalous cobalt mineralisation is distributed in a 200 by 400 meter zone with apparent uniformity. Highlights of the program include 51 samples (29 chips averaging 1 meter in length, 17 grabs and 5 dump) taken across the new zone returning silver values averaging 110 gpt with a high of 486 gpt silver. Additional highlights of all samples taken within the mineralised zone include 12 of 51 samples grading > 100 gpt silver with 86% returning values greater than 20 gpt silver. Furthermore, the average of all 51 samples measured for copper was 1.7% with 30 samples returning greater than 1%. To view details of the sampling results please see the table below. Previous high-grade results were reported in the Company’s news release of October 29, 2018.
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Based on the length of mineralized structures, adjacent producing properties and the context within the Parral-San Francisco Del Oro-Santa Barbara mineral camps, Kootenay believes the Mecatona Property has the potential to host high grade vein type silver deposits. Follow-up work will be directed to systematic sampling of all old workings to establish the apparent continuity of mineralization and establishment of a data base to prepare for exploration drilling.
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Mecatona Sample Results can be viewed in the full news release on the company website: www.kootenaysilver.com
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Geologic Description
Mineralization associated in the new zone is oxidized to assorted limonites with most of the copper mineralisation hosted in the limonites. Depth of oxidation remains unknown. Mineralisation occurs as a range of textures that includes bedding replacement, fracture/stockworks and disseminations, patches and hairlines. Quartz veins are not common with one dump sample showing anomalous gold (0.84 gpt), silver (373 gpt) and 16% lead and zinc. One location of unoxidised material, from an underground working showed chalcopyrite, bornite, arsenopyrite, pyrrhotite, galena, sphalerite in quartz and carbonate fracture/vein/gash system. The skarn is all fine grained marked by dense hard white to greenish beddings with local garnets and marble noted. The mineralisation and high temperature skarn association is similar to parts of the mineralisation settings of Santa Barbara/San Francisco silver camp situated only 20 kilometers northwest.
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Elsewhere on the Mecatona Property, a silver-dominant epithermal mineral system is hosted in veins and breccias within a Tertiary rhyolitic caldera. One anomalous silica structure has been traced for over 1.7 kilometers and remains open along strike with silver values of 291, 205, 194, 190 and 169 gpt having been obtained from these epithermal veins. Early stages of exploration by the Company have also outlined other anomalous areas including a northeast trending zone outlined by stockworks and quartz veinlets within an 80-meter-wide argillic alteration zone. Several small active mines operated by local gambusinos, located 1.5 kilometer west of the Property, are reported to host high grades greater than 1 kg/ton silver at depth.
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Sampling and QA/QC
Surface samples reported herein are a combination of grab, chip and panel chip. All technical information for the Mecatona 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. 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 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, 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.
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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.
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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.
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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
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or visit: www.kootenaysilver.com
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CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at March 19, 2019. Certain statements in this news release, referred to herein as “forward-looking statements”, constitute “forward-looking statements” under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as “expected”, “may”, “will” or similar terms.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Kootenay as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as otherwise required by law, Kootenay expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Kootenay’s expectations or any change in events, conditions or circumstances on which any such statement is based.
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.
Kootenay Silver Inc.
Suite 1650 – 1075 W. Georgia St.
Vancouver, BC V6E 3C9
Canada