Kootenay Silver Inc (TSX-V: KTN), a mineral discovery and development company, aims to build value through advanced resource development. Thanks to the company’s 100% ownership of a highly coveted site in Mexico, Kootenay has found themselves thrust to the forefront of the mining sector.
Mexico is a top 10 producer of various resources and minerals, with its largest commodity being silver. In fact, it’s the largest producer of silver in the world. Due to Mexico’s large land mass, the country still contains unexploited mineral reserves. The company has staked claim to the newly discovered La Negra site, located 6.5 km north of Kootenay's flagship Promontorio Silver Resource in Sonora, Mexico. The La Negra prospect has the potential to become one of the richest pure silver plays seen in Mexico in the past decade.
The company’s progress in 2015 was defined by a number of major achievements, including:
- Entering an option agreement through its wholly owned Mexican subsidiary, Minera J.M. with Oro de Altar, a wholly owned Mexican subsidiary of AuRico Gold Inc.
- Encountering more high-grade silver in Phase II of the La Negra Drill Program
- Closing its non-brokered private placement and issued an aggregate of 800,000 units at a purchase price of $0.30 per Unit raising gross proceeds to the Company of $240,000, including the initial tranche, aggregate gross proceeds raised to the Company stand at $1,315,950.
- Thiea Resources initiates the first drill program to be conducted on the 2X's Fred property located in the mineral-rich Nechako Plateau of central British Columbia, Canada.
- Entering into an option agreement with a wholly-owned subsidiary of Antofagasta plc.
- Optioning its Cervantes Gold/Copper project located in Sonora, Mexico to Aztec Metals Corp.
Furthermore, this past October, the company received positive results from preliminary metallurgy tests conducted on samples from the company's La Negra silver discovery. An analysis report estimated the potential resource at over 65 million ounces of silver, making Kootenay a major player in the silver mining industry.
“These preliminary results indicate that high silver recoveries should be achievable by simple, cost effective milling and extraction methods and they clearly reinforce La Negra's potential to evolve into a low-cost, open pittable silver resource,” said James McDonald, President and CEO of Kootenay. “This potential is further underscored by drill results to date on La Negra that have consistently returned multiple wide intersections of mineralization, starting at surface and remaining open along strike and to depth, at the kind of silver grades that are currently being mined by open pit methods in Mexico."
Kootenay Silver’s La Negra claim, along with its yield potential, aims to be the envy of the silver mining sector. With drilling and development plans moving forward, Kootenay Silver is positioned to continue their winning streak into the new year.
For more information about Kootenay Silver, visit www.kootenaysilver.com.
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