Kootenay Silver (KTN-V) drills five m of 1,046 g/t AgEq at Promontorio
June 4, 2013 - News Release
Kootenay Silver Inc. has released 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 grams per tonne silver equivalent over 31.7 metres (200 g/t Ag, 1.21 g/t gold and 1.79 per cent lead plus zinc):
- Including 1,046 g/t silver equivalent over 5.0 metres (808 g/t Ag, 1.83 g/t Au and 6.88 per cent Pb plus Zn);
- Including 300 g/t silver equivalent over seven metres (233 g/t Ag, 0.62 g/t Au and 1.6 per cent Pb plus Zn);
- DH 185 -- 274 g/t silver equivalent over 18.4 metres (208 g/t Ag, 0.92 g/t Au and 0.79 per cent Pb plus Zn):
- Including 1,106 g/t silver equivalent over 3.0 metres (1,023 g/t Ag, 0.92 g/t Au and 1.66 per cent Pb plus Zn);
- DH 188 -- 124 g/t silver equivalent over 20.3 metres (59 g/t Ag, 0.84 g/t Au and 1.0 per cent Pb plus Zn);
- DH 183 -- 188 g/t silver equivalent over six metres (111 g/t Ag, 0.49 g/t Au and 2.48 per cent Pb plus Zn); 161 g/t silver equivalent over 7.1 metres (98 g/t Ag, 0.61 g/t Au and 1.5 per cent Pb plus Zn).
Stated Kootenay president and chief executive officer 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 Northeast 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 Northeast zone."
A CEO interview video and to view assays table is available for view on the company's website.
To view a map of drill results, visit the company's website.
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 Northeast zones with the grades significantly higher than the average resource. The holes tested about 115 metres 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 Northeast 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, downdip, and in the area between the Pit and Northeast zones. Potential also lies in the new Farm EM zone where oxide silver mineralization has been discovered. Also four new targets have been identified through recent interpretation of resistivity from the induced polarization survey. These four conductors have similar or greater conductance than the Pit and Northeast zones 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 metres 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 National Instrument 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 (39.9 million ounces Ag, 508,000 ounces Au, 394.8 million pounds Pb, 462.2 million pounds Zn). In addition to the measured and indicated silver resources, there are an additional 26,814,000 silver equivalent ounces in the inferred category (12.8 million ounces Ag, 147 ounces Au, 99.5 million pounds Pb, 109.1 million pounds Zn). Measured and indicated resources are contained in open-pit resources of 44,504,000 tonnes grading an average of 64.32 g/t silver equivalent (27.77 g/t Ag, 0.35 g/t Au and 0.87 per cent Pb plus Zn) and resources outside of the open pit of 215,000 tonnes grading an average of 56.96 g/t silver equivalent (22.89 g/t Ag, 0.28 g/t Au and 0.95 per cent Pb plus Zn). Inferred resources are within open-pit resources of 14,564,000 tonnes grading an average of 51.95 g/t silver equivalent (24.95 g/t Ag, 0.28 g/t Au and 0.59 per cent Pb plus Zn) and resources outside of the open pit of 1,265,000 tonnes grading an average of 61.17 g/t silver equivalent (26.57 g/t Ag, 0.37 g/t Au and 0.74 per cent Pb plus Zn).
Quality assurance/quality control
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 one- to two-metre-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 website.
The foregoing geological disclosure has also been reviewed and verified by Kootenay's CEO, James McDonald, PGeo (a qualified person for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects). Mr. McDonald is a director of Kootenay.
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