Kootenay Silver Inc. (TSX VENTURE: KTN.V) ("Kootenay") is pleased to announce that camp upgrades are complete and Phase II drilling has now commenced on its La Negra Silver discovery, contained within the Promontorio Mineral Belt in Sonora, Mexico. The Phase II program is expected to comprise of approximately 30 drill holes once completed. B.D Drilling of Guadalajara, Mexico is the drill contractor.
States Kootenay President and CEO James McDonald "We are very pleased to proceed with our Phase II drill program on La Negra. The La Negra discovery represents one of Mexico's newest pure silver plays and clearly displays earmarks to evolve into a substantial near-surface silver resource. The upcoming Phase II drill program will focus on systematically building on the multiple high-grade silver intercepts returned from Phase I drilling and will play an integral role in determining the overall size and extent of La Negra's contained silver."
La Negra Silver Discovery
The La Negra Breccia discovery is situated approximately 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 upcoming Phase II drill program on La Negra follows a successful Phase I drill program, which returned significant and consistent intervals of high grade, widespread silver mineralization extending from surface to depth, confirming a substantial new silver discovery. Highlights included 200 meters of 156 gpt Ag bottoming in 492 gpt Ag over 17 meters above which there is 6 meters of 1337 gpt Ag, 141.28 gpt Ag over 50 meters, including 212.64 gpt Ag over 28 meters and 323.13 gpt Ag over 15 meters. (See news releases, 'Drill Results' Oct. 15, 2014, Nov. 26, 2014 and Dec 3, 2014 for more details). The Phase I drill program was led by a successful trenching and surface sampling program that confirmed extensive silver mineralization 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).
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 Phase I and Promontorio drill program. Geotechnical data such as recovery, RQD and density are being recorded also. Drilling will be HQ sized diamond drill core and has been contracted to B.D Drilling Mexico, S.A. de C.V of 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.
Subject to the approval of the TSX Venture Exchange, Kootenay has issued an aggregate total of 2,485,000 incentive stock options, which are exercisable for a period of five years at an exercise price of $0.35 to directors, officers, employees and consultants of the company.
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.