Kootenay Silver Inc. (TSX VENTURE: KTN.V) is pleased to announce the next phase of drilling on its flagship Promontorio Silver Project in Sonora, Mexico is scheduled to officially commence Sept 12, 2013. The Company will conduct a minimum of 5,000 meters of drilling in the current phase, as part of its ongoing, multi-phase, 2013 drill and resource expansion program on Promontorio. Core drilling will focus on a series of high-grade silver intercepts recently identified within a new breccia zone of silver mineralization situated between the Pit and NE Zones.
States Kootenay Silver President and CEO James McDonald “Supported by recent analysis of data from our ongoing work programs, the current phase of drilling has emerged as a much anticipated event for Promontorio. The newly identified high-grade silver zone, situated between the Pit and NE Zones, remains open, both peripheral to, and at depth, to the known calculated resource. Moreover, the new zone falls within the parameters of the Project’s recently modified, single optimized Pit model, offering potential to add substantial additional ounces to our current silver Eqv. resource and enhance the project’s overall economics.”
THE CURRENT RESOURCE ESTIMATE UTILIZES ONE LARGE OPTOMIZED PIT AS OPPOSED TO TWO SMALLER PITS AS REPORTED IN THE AUGUST 2012 RESOURCE ESTIMATE
The current NI 43-101 Resource Estimation conducted on Promontorio by SRK Consulting Inc. (U.S.) of Lakewood, Colorado included gold assay results in the updated resource estimation. As a result of the addition of gold, the mineral resource is now contained in a single larger optimized Whittle Pit, as opposed to two individual smaller pits as reported in the August 21, 2012 resource estimate. The decision to include gold in the resource estimation follows extensive metallurgical testing and technical analysis conducted by ALS Minerals of Kamloops, British Columbia that confirmed up to 94.5% recovery of gold from pyrite concentrates from the Promontorio resource can be achieved using a post pressure oxidation treatment process.
Current NI 43-101 Compliant Silver Resource
The current mineral estimate on Promontorio effective date March 31, 2013 contains a combined Measured and Indicated silver resource of 92,428,000 silver equivalent ounces (39.9M oz’s Ag, 508K oz’s Au, 394.8M lb’s Pb, 462.2M lb’s Zn). In addition to the measured and indicated silver resources, there are an additional 26,814,000 silver equivalent ounces in the Inferred category (12.8M oz’s Ag, 147 oz’s Au, 99.5M lb’s Pb, 109.1M lb’s Zn). Measured and Indicated resources are contained in open pit resources of 44,504,000 tonnes grading an average of 64.32 gpt silver equivalent (27.77 gpt Ag, 0.35 gpt Au and 0.87% Pb+Zn) and resources outside of the open pit of 215,000 tonnes grading an average of 56.96 gpt silver equivalent (22.89 gpt Ag, 0.28 gpt Au and 0.95% Pb+Zn). Inferred resources are within open pit resources of 14,564,000 tonnes grading an average of 51.95 gpt silver equivalent (24.95 gpt Ag, 0.28 gpt Au and 0.59% Pb+Zn) and resources outside of the open pit of 1,265,000 tonnes grading an average of 61.17 gpt silver equivalent (26.57 gpt Ag, 0.37 gpt Au and 0.74% Pb+Zn).
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.
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.
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