Vancouver,
British Columbia: Kootenay Silver Inc. (TSX VENTURE: KTN.V) is pleased to
announce results from an additional 10 holes from its current 25,000 meter
drill program on its Promontorio Silver Project in Sonora, Mexico. The Company
reports the two-phase 35,000 meter in-fill drill and resource definition
program, comprised of 25,000 meters of core drilling and 10,000 meters of RC
drilling is now complete. Work on an independent NI 43-101 resource update to
incorporate results from drilling is underway.
States
Kootenay CEO James McDonald
“The high-grade results achieved from step-out drilling in the Northeast Zone
is further testimony to the success of our multi-phase drill program. Since
confirming our initial NI 43-101 silver resource in 2010, we established one
continuous zone of silver mineralization from the Pit (Discovery) Zone through
the Southwest Zone. This zone remains open to the east, west and to depth. We
continue to encounter high-grade silver intercepts over widespread areas of
silver mineralization in the Northeast Zone, some 700 meters outside of the
current NI 43-101 resource. We expect these developments will play a critical
factor in sharply boosting the size of our existing silver resource as we
prepare for our updated independent NI 43-101 resource study.”
Silver
Hosted in Large Diatreme Complex
The recent definitive recognition
that Promontorio silver mineralization is hosted in a large diatreme complex
has significant geologic implication, as these types of systems can typically
be very large in size and result in discovery of numerous deposits. Examples in
Mexico include the Pitarrilla Silver-Lead-Zinc deposits in Durango and the
Peñasquito Silver-Gold-Lead-Zinc mine located in the northeast of the State of
Zacatecas in north-central Mexico.
Mineralization
Remains Open on Strike and Down Dip
At
present, silver mineralization remains open in both strike directions and down
dip within Promontorio’s Diatreme complex, between the Pit, Southwest Extension
and Northeast Zones. The Company reports it has identified a host of new prospective
targets within the Diatreme complex, that require further drill testing.
Accordingly, the Company reports plans are underway to conduct a large follow
up drill program after the release of the NI 43-101 resource update.
|
Hole ID
|
Target
|
From
(m)
|
To
(m)
|
Interval
(m)
|
*AgEq (Ag,Pb,Zn)
(gpt)
|
Ag
(gpt)
|
Pb
(%)
|
Zn
(%)
|
Pb+Zn
(%)
|
||
|
DH-111-12
|
NE
Zone
|
6.00
|
8.00
|
2
|
73
|
9
|
1.43
|
0.01
|
1.44
|
||
|
DH-111-12
|
NE
Zone
|
172.00
|
174.00
|
2
|
261
|
86
|
0.97
|
3.19
|
4.15
|
||
|
DH-111-12
|
NE
Zone
|
181.00
|
182.00
|
1
|
186
|
119
|
0.59
|
0.99
|
1.58
|
||
|
DH-112-12
|
Pit
SW Extension
|
33.00
|
36.00
|
3
|
283
|
218
|
0.67
|
0.84
|
1.51
|
||
|
DH-112-12
|
Pit
SW Extension
|
263.00
|
269.00
|
6
|
26
|
10
|
0.15
|
0.23
|
0.38
|
||
|
DH-113-12
|
NE
Zone
|
121.00
|
122.00
|
1
|
99
|
89
|
0.10
|
0.13
|
0.23
|
||
|
DH-114-12
|
Pit
SW Extension
|
88.00
|
91.00
|
3
|
64
|
53
|
0.06
|
0.19
|
0.24
|
||
|
DH-115-12
|
NE
of Pit
|
123.00
|
135.00
|
12
|
43
|
31
|
0.13
|
0.15
|
0.28
|
||
|
including
|
NE
of Pit
|
123.00
|
126.00
|
3
|
112
|
77
|
0.44
|
0.37
|
0.81
|
||
|
DH-115-12
|
NE
of Pit
|
263.00
|
264.00
|
1
|
151
|
73
|
0.77
|
1.07
|
1.84
|
||
|
DH-115-12
|
NE
of Pit
|
273.00
|
275.00
|
2
|
95
|
35
|
0.59
|
0.81
|
1.40
|
||
|
DH-115-12
|
NE
of Pit
|
374.00
|
379.00
|
5
|
37
|
30
|
0.05
|
0.11
|
0.16
|
||
|
DH-116-12
|
NE
Zone
|
284.00
|
373.00
|
89
|
84
|
41
|
0.61
|
0.41
|
1.01
|
||
|
including
|
NE
Zone
|
294.00
|
312.00
|
18
|
254
|
120
|
1.96
|
1.14
|
3.10
|
||
|
including
|
NE
Zone
|
310.00
|
312.00
|
2
|
579
|
272
|
4.27
|
2.84
|
7.11
|
||
|
DH-117-12
|
NE
of Pit
|
29.00
|
33.00
|
4
|
102
|
32
|
0.79
|
0.85
|
1.63
|
||
|
DH-117-12
|
NE
of Pit
|
151.00
|
165.00
|
14
|
113
|
34
|
0.74
|
1.10
|
1.84
|
||
|
including
|
NE
of Pit
|
163.00
|
165.00
|
2
|
357
|
87
|
2.07
|
4.29
|
6.36
|
||
|
DH-117-12
|
NE
of Pit
|
201.00
|
209.00
|
8
|
31
|
14
|
0.16
|
0.24
|
0.41
|
||
|
DH-118-12
|
NE
of Pit
|
101.00
|
103.00
|
2
|
135
|
94
|
0.32
|
0.65
|
0.96
|
||
|
DH-118-12
|
NE
of Pit
|
259.00
|
269.00
|
10
|
158
|
99
|
0.70
|
0.67
|
1.38
|
||
|
including
|
NE
of Pit
|
267.00
|
269.00
|
2
|
345
|
218
|
1.33
|
1.65
|
2.97
|
||
|
DH-119-12
|
NE
Zone
|
127.00
|
129.00
|
2
|
79
|
11
|
0.68
|
0.90
|
1.58
|
||
|
DH-119-12
|
NE
Zone
|
220.00
|
222.00
|
2
|
59
|
58
|
0.02
|
0.01
|
0.03
|
||
|
DH-119-12
|
NE
Zone
|
254.00
|
256.00
|
2
|
70
|
26
|
0.50
|
0.53
|
1.03
|
||
|
DH-119-12
|
NE
Zone
|
271.00
|
287.00
|
16
|
34
|
12
|
0.22
|
0.29
|
0.51
|
||
|
DH-119-12
|
NE
Zone
|
331.00
|
363.00
|
32
|
44
|
18
|
0.32
|
0.28
|
0.60
|
||
|
including
|
NE
Zone
|
352.00
|
360.00
|
8
|
69
|
32
|
0.41
|
0.44
|
0.85
|
||
|
DH-120-12
|
NE
of Pit
|
162.00
|
171.00
|
9
|
100
|
35
|
0.66
|
0.86
|
1.52
|
||
|
including
|
NE
of Pit
|
162.00
|
166.00
|
4
|
188
|
65
|
1.23
|
1.66
|
2.89
|
||
|
*Assuming 100%
Metallurgical Recovery
|
|||||||||||
|
*Prices used in
Silver Equivalent (AgEq) Calculations:
|
|||||||||||
|
Ag dollars/oz
|
15
|
||||||||||
|
Zn dollars/lb
|
0.91
|
||||||||||
|
Pb dollars/lb
|
0.97
|
||||||||||
Table of the
full results follows:
North East Zone
DH
116
·
Eastern
most intercept to date
·
May
be up dip extension of mineralization 110 and 232 meters deeper in KP 39
DH
111
·
Up
dip of DH 74 and 75, 35 to 108 meters respectively
DH
113
·
Up
dip of DH 85, 86 and 66
DH
119
·
50
meters down dip of DH 69
·
Shows
zone is open to depth
NE Pit Extension
DH
115
·
35
meters down dip of PC 16
·
shows
potential opening of mineralization to the north
DH
117
·
On
section with DH 77, PC 48 and KP 32
DH
118
·
83
meters up dip of PC 18 intercept.
DH
120
·
123
meters up dip of DH 109
Southwest
Extension
DH
112
·
Up
dip of DH 106
·
Testing
south edge of diatreme breccia
DH
114
·
Testing
south edge of diatreme breccia
The
recently completed 25,000 meter in-fill drilling and resource definition program
represents the single largest and most expansive drilling campaigns conducted
by Kootenay on the Promontorio Silver project to date.
The
foregoing technical disclosure in this release 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
is actively developing mineral projects in the Sierra Madre Region of Mexico
and in British Columbia, Canada. The Company’s flagship property is the former
producing Promontorio Silver mine in Sonora State, Mexico. The Company's
objective is to develop near term discoveries and long-term sustainable growth.
Kootenay’s 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.
-30-
For additional
information, please contact:
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
The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or the accuracy of this release. 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. 2012
number 8
