Kootenay Silver Inc. (TSXV: KTN)
Announced that the Company has signed a surface access agreement (the “Agreement”) with the local Ejido at the Copalito Project (“Copalito” or “Property”) located in the State of Sinaloa, Mexico.
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Kootenay Silver Inc. (TSXV: KTN) (the “Company” or “Kootenay”) is pleased to announce that the Company has signed a surface access agreement (the “Agreement”) with the local Ejido at the Copalito Project (“Copalito” or “Property”) located in the State of Sinaloa, Mexico.
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The Agreement allows Kootenay full surface access to the land that covers the gold and silver epithermal vein system discovered by Kootenay as well as surrounding exploration potential at Copalito. The Agreement also allows the Company to conduct exploration activities including but not limited to mapping, sampling, geophysics, trenching and drilling.
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Kootenay is currently in the process of filing necessary permit applications with the government to conduct a maiden drill program, with the expectation of permits being issued by the end of the year. The Company has retained the services of an environmental consultant to assist in and expediate the process. Updates on permitting and the proposed drilling program for Copalito will be reported in future news releases.
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Copalito covers a gold and silver epithermal vein system comprised of numerous veins, with individual veins currently traced over strike lengths of up to two (2) kilometers. Veins vary in width from 0.5 to 15 meters at surface. Exploration efforts by the Company to date have been focused on six (6) known principal veins discovered by Kootenay, with results previously reported over the past year (see Company’s news releases dated July 19 and September 20, 2018, January 21and April 10, 2019).
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Copalito Sampling Highlights:
- 7.2 gpt gold and 3,770 gpt silver in grab samples from 5 Senores and Agua Veins, respectively;
- 8.2 gpt gold including 583 gpt silver over a 1.1-meter chip sample across the 5 Senores Vein;
- 401 gpt silver including 0.24 gpt gold in a chip sample across 5.3 meters on 5 Senores Vein;
- 532 gpt silver over 3.0 meters and 306 gpt silver over 4.9 meters chip sampled across Agua Vein;
- 17.45% zinc, 9.89% lead, 76 gpt silver and 0.52 gpt gold in a grab sample taken at Pillar Vein; and
- Copper values of 5.1%, 1.6 % and 1.5% taken from the northern area of the Property along the Cobriza Vein.
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Copalito Geology
Mineralisation is hosted within classic low sulfidation epithermal quartz and rare calcite veins. Multiple mineral events are evidenced by banded mineralised textures, multiple cross cutting veins/veinlets, laminated banding of chalcedonic and crystalline quartz, sulfide replacement and infillings of breccia matrix. Sulfide content is generally low but does range to 20% or more in hand samples. Sulfides and their oxide equivalents include fine grained pyrite, black and yellow sphalerite, galena, chalcopyrite and silver sulphosalts . Some zonation is becoming apparent with veins in the northeast being higher in gold and base metals and those in the south being high in silver and low in base metals.
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About Copalito Silver-Gold Project
The Copalito Project is a classic low sulphidation epithermal vein system which has numerous small old workings and no evidence or reports of historic exploration drilling. The Property consists of seven concessions totaling approximately 3,700 hectares and is located 35 kilometres east of McEwen Mining’s “El Gallo Mine” complex in Sinaloa State, along the western fringes of the Sierra Madre Occidental in northwestern Mexico. The Copalito Project has good access, topography and infrastructure. Kootenay’s wholly owned Mexican subsidiary can acquire a 100% ownership in the concessions by making staged payments over a 4-year period.
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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 Copalito 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 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.
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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.