Kootenay Surface Sampling Results Indicate Potential for High Grade Vein Type Deposits on New Silver Property Within the Historic Parral Silver Mining District, Mexico

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Kootenay Surface Sampling Results Indicate Potential for High Grade Vein Type Deposits on New Silver Property Within the Historic Parral Silver Mining District, Mexico

Canada NewsWire

VANCOUVER, Oct. 29, 2018 /CNW/ - Kootenay Silver Inc.  (TSXV: KTN) (the "Company" or "Kootenay") is pleased to announce that it has acquired the Mecatona Property (the "Property") by staking of 2,857 hectares in the Parral Silver Mining District, located south of the City of Parral in Chihuahua State, Mexico and southeast of the Company's flagship La Cigarra Project.

Kootenay Silver Inc. (CNW Group/Kootenay Silver Inc.)

To date, the Company has taken 78 samples, which include both channel and grab on the Property with silver values ranging from trace to a high of 735 gpt and gold values ranging from trace to 6.94 gpt. Appreciable base metals are also present within the mineralized system with lead and zinc values returning up to 3.5% and 8.0%, respectively. See table at the end of this release for sample details and click on this link to view maps.

The Property covers a silver-dominant epithermal mineral system hosted in veins and breccias. One anomalous structure has been traced for +1.7 kilometer and remains open along strike. Early stages of exploration by the Company have also outlined other anomalous areas including a northeast trending zone outlined by stockworks and quartz veinlets within an 80 meter-wide argillic alteration zone. Several small active mines operated by local gambusinos, located 1.5 kilometres west of the Property, are reported to host high grades greater than 1 kg/ton silver at depth. 

The exploration plan at the Property is to map out and define the mineralized structures and then drill test them at the same elevations the high grade is known to occur at the neighboring small-scale mines. This exploration plan was used very successfully in discoveries such as Mag Silver's Juanacipio and Electrum's Los Gatos. Although the Property hosts several small to medium sized old workings there is no evidence of any modern exploration.

Based on the length of mineralized structures, adjacent producing properties and the context within the Parral-San Francisco Del Oro-Santa Barbara mineral camps, Kootenay believes the Mecatona Property has the potential to host high grade vein type silver deposits. 

Regionally, the Property is part of the larger, productive Parral Silver District that includes the Santa Barbara and San Francisco del Oro mining facilities, Endeavour Silver's Veta Colorada and La Pamilla projects and Kootenay's La Cigarra.  

Mecatona Property Sample Results

Sample
Number

Sample
Type

Gold
ppb

Silver
gpt

Copper
ppm

Lead
ppm

Zinc
ppm

FC2036ch

CH

133

351

70

4650

1150

FC2037g

G

15

11

50

90

180

FC2038d

D

158

28

30

150

310

FC2039sc

SC

136

65

30

210

140

FC2040sc

SC

37

368

920

15600

30

FC2041f

F

91

98

240

35300

80000

FC2396f

F

40

12

20

480

110

FC2397d

D

5

169

40

400

130

FC2398d

D

45

291

1140

1270

500

FC2399g

G

19

69

50

690

360

FC2400g

G

N/A

97

150

480

230

FC2401g

G

6

90

50

820

150

FC2402g

G

9

79

60

840

410

FC2403g

G

12

39

50

730

210

FC2404ch

CH (1m)

43

9

20

13250

810

FC2405g

G

N/A

3

10

280

180

FC2406ch

CH (1m)

112

14

30

1870

310

FC2407ch

CH (1m)

12

10

20

15400

390

FC2408g

G

N/A

12

30

340

260

FC2408Ag

G

6

12

20

400

260

FC2409g

G

7

2

N/A

630

160

FC2410g

G

N/A

1

N/A

20

150

FC2411g

G

N/A

1

10

210

120

FC2412g

G

N/A

1

N/A

80

90

GG307ch

CH (1m)

N/A

N/A

N/A

170

70

GG308ch

CH (1m)

N/A

1

N/A

30

50

LM2570g

G

N/A

3

20

100

120

LM2571g

G

17

14

30

11700

630

LM2572g

G

11

257

40

250

170

LM2573g

G

N/A

205

70

370

70

LM2574g

G

6

4

10

650

690

LM2575g

G

11

3

N/A

100

220

LM2576sc

SC

130

20

30

830

220

LM2577sc

SC

N/A

1

N/A

30

-20

LM2578sc

SC

N/A

N/A

N/A

-20

-20

LM2579f

F

N/A

N/A

N/A

20

30

LM2580p

P (2mt)

N/A

5

10

160

70

LM2581ch

CH (2mt)

N/A

28

10

190

70

RJ068g

G

16

N/A

20

50

90

RJ069g

G

N/A

N/A

10

90

70

RJ070g

G

N/A

1

10

100

250

RT466f

F

N/A

1

N/A

660

30

RT492ch

CH (3m)

16

27

20

160

90

RT493

G

N/A

N/A

N/A

50

40

RT494

G

7

13

10

1500

220

RT495

SC

6940

753

340

5320

490

RT496

G

23

44

10

170

60

RT497ch

CH (2m)

7

80

70

940

170

RT498

G

10

55

40

3120

620

RT499ch

CH

7

3

10

440

480

RT500

G

N/A

1

N/A

240

70

TK447g

G

29

328

40

200

80

TK448g

G

16

1

N/A

160

110

TK449g

G

6

5

N/A

980

110

TK450d

D

22

194

150

3920

350

TK451g

G

5

190

250

1830

590

TK452g

G

42

7

10

240

140

TK453d

D

5

1

N/A

120

190

TK454sc

SC

23

53

50

1300

350

TK455p

P

18

92

20

450

100

TK456g

G

9

1

N/A

130

120

TK457g

G

8

24

40

1840

450

TK458f

F

58

53

20

520

200

TK459ch

CH

14

17

40

2960

510

TK460g

G

N/A

2

N/A

160

120

TK461p

P

N/A

N/A

N/A

N/A

N/A

TK462f

F

N/A

1

N/A

20

20

TK463f

G

N/A

N/A

N/A

20

N/A

TK464g

G

N/A

10

N/A

970

280

TK465ch

CH

50

20

70

4570

580

TK466ch

CH

435

32

110

5980

470

TK467g

G

N/A

1

N/A

80

110

TR1511g

G

N/A

4

10

130

70

TR1512g

G

N/A

1

10

40

40

TR1513g

G

N/A

N/A

10

90

80

TR1514g

G

N/A

1

10

120

90

TR1515g

G

N/A

2

10

170

370

TR1516g

G

22

9

10

530

190

 

*G: grab sample, CH: chip-channel sample, F: float sample, SC: subcrop sample, D: dump sample.

Additionally, the Company announces it has entered an option agreement to acquire a 100% interest in the Meachen Bend Project (the "Meachen Property") located 30 kilometers southwest of the famous Sullivan silver-lead-zinc mine which hosted 350 million ounces of silver, within 160 million tonnes grading 12% lead plus zinc and 68 gpt silver. The Meachen Property is comprised of three mineral tenures totaling approximately 1,048 hectares and covers elevated base metals, alteration and stratigraphy consistent with those areas peripheral to a silver-lead-zinc Sullivan style deposit. In addition, a strong single line MT conductor sits at relatively shallow depths, which is believed by the Company could be caused by massive sulfides distinctive to a Sullivan type deposit. Pursuant to the terms of the Acquisition, the Company must issue 500,000 common shares over 4 years upon receipt of TSX Venture Exchange ("TSXV") approval. Following completion of the option the venders will retain a 1.5% net smelter return upon earn in, of which, one-half percent (0.5%) can be purchased by the Company for $500,000.

Sampling and QA/QC

Surface samples reported herein are a combination of grab, chip and panel chip. All technical information for the Mecatona 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 Chihuahua. 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.

Qualified Persons

The Kootenay 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 on behalf Kootenay by James McDonald, P.Geo, President, CEO & Director for Kootenay, a Qualified Person.

Neither the 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.

About Kootenay Silver Inc.

Kootenay Silver Inc. is an exploration company actively engaged in the discovery and development of mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. Supported by one of the largest portfolios of silver assets in Mexico, Kootenay continues to provide its shareholders with significant leverage to silver prices. The Company remains focused on the expansion of its current silver resources, new discoveries and the near-term economic development of two of its priority silver projects located in prolific mining districts in Sonora, State and Chihuahua, State, Mexico, respectively.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:

The information in this news release has been prepared as at October 28, 2018. 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.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2018/29/c3551.html

Copyright CNW Group 2018

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