Kootenay hits multiple high grade intercepts on La Negra including 156 gpt silver over 200 meters, 442 gpt silver over 50 meters and 1337 gpt silver over 6 meters

Press Releases |

VANCOUVER, Nov. 26, 2014 /CNW/ – Kootenay Silver Inc. ($KTN:CA) (“Kootenay”) is pleased to announce results on 16 additional drill holes from its Phase I drill program on its new La Negra Breccia Silver Discovery, situated approximately 6.5 kilometers north of Kootenay’s flagship Promontorio Silver Resource in Sonora, Mexico.

To date, a total of 25 holes have been drilled and completed in the inaugural discovery drill program on La Negra. Results from the final 2 holes of the program are pending and are expected to be released in the near future.

States Kootenay President and CEO, James McDonald “We are extremely pleased with assay results from the current 16 holes of the program. La Negra is rapidly evolving into an exciting new silver discovery that is ideally situated and continues to yield multiple high-grade results. The mineralization is outcropping on a hill top and drill results show both consistency of mineralization and demonstrated potential for continued high grades, as shown in holes such as LN 21-14 that returned 1337 gpt silver over 6 meters. Combined, these factors indicate strong potential for developing a significant low cost silver operation.”

Highlights include:

  • 200 meters from surface of 156 gpt Silver in LN 21-14 including the bottom 50 meters grading 442 gpt Silver. This hole bottomed in 492 gpt over 17 meters.
  • 6 meters of 1337 gpt Silver in LN 21-14, the highest grade interval to date.
  • 34 meters from surface of 265 gpt Silver in LN 22-14 with 18 meters of 467 gpt Silver
  • 30 meters from surface of 250 gpt Silver in LN 23-14 with 13 meters of 459 gpt Silver
  • 33 meters from surface of 179 gpt Silver with 11 meters of 412 gpt Silver in LN 14-14.
  • 49 meters from 13 meter depth of 92 gpt Silver with 34 meters of 251 gpt Silver in LN 8-14.
  • 140 meters from surface of 61 gpt Silver with 47 meters of 79 gpt Silver and 8 meters of 355 gpt Silver in LN 13-14.

Details of the intercepts are in the following table:

Drill Hole

 

From

(m)

To
(m)

Interval

(m)

Silver

(gpt)

Gold
(ppb)

Lead

%

Rock

Type

LN-08-14

-45/180 Az

13

62

49

91.89

15.14

0.26

Breccia/+Andesite

 

Including

30

41

11

251.00

34.54

0.15

Breccia

 

Including

53

62

9

59.70

8.55

0.53

Breccia

137m EOH

               
                 

LN-09-14

-60/180 Az

9

37

28

60.00

38.19

0.32

Breccia

 

Including

9

23

14

64.57

44.00

0.39

Breccia

105m EOH

               
                 

LN-10-14

-90/360 Az

5

40

35

87.08

37.34

0.51

Breccia/+Andesite

 

Including

10

35

25

116.56

45.48

0.60

Breccia

 

Including

14

35

21

135.52

53.00

0.65

Breccia

   

70

78

8

37.25

5.25

0.24

Breccia

   

157

163

6

38.83

63.00

0.27

Breccia

191m EOH

               
                 

LN-11-14

-60/360 Az

6

11

5

56.33

9.66

0.33

Breccia

   

27

29

2

32.50

2.50

0.01

Stockwork

131m EOH

               
                 

LN-12-14

-45/360 Az

13

28

15

29.76

8.88

0.44

Stockwork/Breccia

 

Including

17

28

11

37.33

9.94

0.47

Breccia

117m EOH

               
                 

LN-13-14

-60/090 Az

0

140

140

61.43

47.75

0.38

Breccia/Stockwork

 

Including

24

71

47

79.00

52.00

0.31

Breccia

 

Including

12

19

7

95.57

49.85

0.22

Stockwork

 

Including

24

34

10

83.33

50.00

0.10

Breccia

 

Including

54

64

10

136.50

57.40

0.73

Breccia

 

Including

66

71

5

120.20

13.20

0.74

Breccia

 

Including

112

120

8

355.16

118.30

2.97

Breccia

 

Including

132

140

8

52.75

89.37

0.19

Breccia

183.5m EOH

               
                 

LN-14-14

-60/270 Az

0

33

33

179.65

33.21

0.33

Breccia

 

Including

13

24

11

412.11

61.77

0.24

Breccia

 

Including

26

30

4

181.00

55.25

0.72

Breccia

   

48

60

12

31.50

8.18

0.13

Stockwork

92m EOH

               
                 

LN-15-14

77m EOH

No Significant Results

Argillic Andesite

LN-16-14

60m EOH

No Significant Results

Argillic/Propylitic

LN-17-14

51m EOH

No Significant Results

Argillic/Propylitic

LN-18-14

156m EOH

No Significant Results

Argillic/Propylitic

                 

LN-19-14

-45/180 Az

70

82

12

289.58

39.66

1.42

Breccia

 

Including

74

82

8

421.37

50.50

1.93

Breccia

193m EOH

               
                 

LN-20-14

-45/180 Az

51

61

10

33.70

29.85

0.40

Stockwork

   

97

133

36

79.05

64.92

0.24

Breccia/Stockwork

 

Including

105

133

28

99.35

88.57

0.24

Breccia/Stockwork

 

Including

111

133

22

107.66

100.00

0.16

Breccia

192m EOH

               
                 

LN-21-14

-45/290 Az

0

200

200

156.47

102.67

0.18

Breccia/Stockwork

 

Including

41

57

16

114.31

9.03

0.21

Breccia

 

Including

119

128

9

392.11

218.44

0.15

Breccia

 

Including

150

158

8

258.37

155.37

0.07

Breccia

 

Including

164

169

5

476.20

294.20

0.14

Breccia

 

Including

150

200

50

420.34

182.91

0.23

Breccia

 

Including

174

180

6

1337.66

475.00

0.28

Breccia

 

Including

183

200

17

492.30

128.23

0.50

Breccia

200m EOH

               
                 

LN-22-14

-90/360 Az

0

34

34

265.31

114.37

0.75

Breccia/Stockwork

 

Including

16

34

18

467.77

200.97

1.11

Breccia

82m EOH

               
                 

LN-23-14

-45/180 Az

0

30

30

239.92

53.13

0.41

Breccia/Stockwork

 

Including

17

30

13

459.76

89.65

0.59

Breccia

 

Including

17

23

6

899.50

160.50

1.15

Breccia

 

Including

18

19

1

3040.00

426.00

4.53

Breccia

78m EOH

               

To view cross sections of the drill holes visit: La Negra Cross Sections LN 01 to LN 23-14.  To view a drill plan outlining the location of the La Negra drilling visit: La Negra Drill Plan Map.
OCTOBER 15, 2014 News Release (Previously Announced)

Drill Hole

 

From

(m)

To

(m)

Interval

(m)

Silver

(gpt)

Gold

(ppb)

Lead

%

Rock

Type

LN-01-14

 -45/180 Az

3

44

41

110.46

67.71

0.126

Breccia

 

Including

18

37

19

177.1

112.78

0.056

Breccia

 

Including

18

31

13

223.23

129.38

0.07

Breccia

95m EOH

               
                 

LN-02-14

-60/180 Az 

0

50

50

141.28

107.72

0.215

Breccia

 

Including

0

40

40

161.25

121.15

0.256

Breccia

 

Including

19

47

28

212.64

149.14

0.144

Breccia

 

Including

19

34

15

323.13

197.8

0.216

Breccia

100m EOH

               
                 

LN-03-14

-90/360 Az 

0

144

144

82.57

57.93

0.309

Breccia

 

Including

0

27

27

108.32

77.3

0.618

Breccia

 

Including

0

106

106

98.03

62.19

0.373

Breccia

 

Including

0

78

78

114.63

66.04

0.383

Breccia

 

Including

53

78

25

195.84

107.4

0.144

Breccia

 

Including

54

67

13

229.38

103.61

0.166

Breccia

144m EOH

               
                 

LN-04-14

-60/360 Az 

0

114

114

78.54

66.4

0.311

Breccia

 

Including

0

92

92

92.98

79.68

0.351

Breccia

 

Including

0

67

67

118.93

83.39

0.409

Breccia

 

Including

0

20

20

149.43

73.21

0.85

Breccia

 

Including

43

74

31

146.38

95.67

0.103

Breccia

152m EOH

               
                 

LN-05-14

-45/360 Az 

0

119

119

91

46.44

0.576

Breccia

 

Including

0

88

88

108.85

39.95

0.625

Breccia

 

Including

89

119

30

40.4

64.55

0.427

Breccia

 

Including

51

91

40

182.87

70.97

1.171

Breccia

 

Including

51

65

14

367.85

111.42

1.84

Stockwork

147m EOH

               
                 

LN-06-14

-60/090 Az 

3

101

98

92.79

104.37

0.153

Breccia

 

Including

3

55

52

124.36

88.59

0.224

Breccia

 

Including

3

24

21

168.33

125.8

0.416

Breccia

 

Including

3

16

13

214.3

131.3

0.618

Breccia

101m EOH

               
                 

LN-07-14

 -60/270 Az

5

64

59

132.49

85.34

0.26

Breccia

 

Including

5

48

43

149.60

78.96

0.27

Breccia

 

Including

31

48

17

185.35

153.18

0.23

Breccia

 

Including

5

116

111

83.89

52.49

0.23

Breccia/Stockwork

 

Including

65

116

51

17.06

7.42

0.19

Stockwork

 

Including

106

116

10

41.90

12.80

0.47

Stockwork

130m EOH

               

These results highlight the importance of the La Negra discovery and the potential for finding and developing additional high grades. Drilling has tested and encountered Breccia and stockwork mineralization along a strike length of 400 meters to vertical depths of over 190 meters. Due to faulting and possibly the nature of the breccia contact itself the width of the breccia body is undetermined at this time. Thus far minimum drilled widths are varying from about 60 to 100+ meters within a broader 200 by 500 meter area of breccia outcrop exposures.

The breccia is cut by two northwest trending faults across which the dip of the breccia changes from near vertical dips to moderate southerly dips. This is evidenced by holes LN 11, 12, 14, 18, 19 and 20, which were drilled through the breccia into the footwall or directly within the footwall thus missing the bulk of the breccia body.  The last hole LN 25-14 (assays pending) drilled to the north confirms a southerly dip encountering 60 meters of breccia from surface followed by about 50 meters of stockwork.

Holes LN 15 to 18 were drilled at the western edge of the breccia and seem to define the western extent of the main breccia body. However outcropping breccia does occur about another 50 meters further west of these holes so a western extension or a separate breccia body is implied.

Breccia characteristics indicate the La Negra Breccia is a in the vent facies of a diatreme. Diatreme breccias have extensive depth potential in the order of 100’s of meters. The La Negra Breccia also appears to have a steep northeast plunge to the system.

Current Phase I Drill Program

Drilling in the Phase I program was conducted in widely spaced fences along 400 of 500 meters of La Negra’s length to provide information on the sub-surface grade, continuity and geometry of the mineralized Breccia system. Current holes were broadly spaced as single holes or fences of holes from the same platforms in 115 to 75 meter spacings along strike. Extensive zones of breccia and stockwork were encountered along the strike length and dips seem to vary from steep northerly dips to moderate southerly dips. The Phase I drill program included approximately 3100 meters of core drilling. A total of 25 HQ diameter core holes were drilled and completed.

La Negra Silver Discovery

The La Negra Beccia prospect is situated approx. 6.5 kms north of Kootenay’s flagship Promontorio Silver Resource in Sonora, Mexico and is contained within a 25 x 15 km mineralized corridor, the ‘Promontorio Mineral Belt.’ The current Phase I drill program on La Negra follows a highly successful trenching and surface sampling program that confirmed widespread silver mineralization exists over a large 100 to 200 meters by 500 meters area on surface. (See news releases from May 28th and June 5th, 2014 for more details). Recently, each of the first seven holes of its current Phase I drill program on La Negra returned significant intervals and high grades of widespread silver mineralization extending from surface to depth, confirming a substantial new silver discovery. (See news release, ‘Drill Results’ Oct. 15, 2014 for more details)

To View Full Results of Sampling and drill Program Visit: www.kootenaysilver.com

QA/QC

Core is being detailed logged and sampled with half the core being bagged, tagged, catalogued, sealed and sent to an accredited assay lab for analysis.  A quality control program including blanks, standards and replicates is being used similar to that used on the Promontorio drill program.  Geotechnical data such as recovery, RQD and density are being recorded also. Sample lengths are one meter in breccia or stockwork zones and 2 meters in other zones. All drilling has been with HQ core and is being done by BD Drilling from Guadalajara, Mexico. 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 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.

Neither 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.

Forward-Looking Statements: The information in this news release has been prepared as at November 25, 2014.  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.  

SOURCE Kootenay Silver Inc.

 For further information: James McDonald, CEO and President at 403-238-6986; Ken Berry, Chairman at 604-601-5652; 1-888-601-5650; or visit:www.kootenaysilver.com

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

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