Step-Out Drilling on Promontorio Hits 104 gpt Silver Eqv (81 gpt Ag and 0.97% Pb+Zn) over 10 meters, including 3 meters grading 246 gpt Silver Eqv (176 gpt Ag and 3.04% Pb+Zn) and 9 meters Grading 47 gpt Silver Eqv (33 gpt Ag and 0.60% Pb+Zn) in New Discovery Zone

Shares Outstanding: 56,488,850

VANCOUVER, March 13, 2013 /CNW/ - Kootenay Silver Inc. (TSX VENTURE: KTN.V) is pleased to announce results from an additional 11 holes from its ongoing 30,000 meter, multi-phase drill and resource expansion program on its flagship Promontorio Silver Project in Sonora, Mexico. The holes are step out and exploratory holes testing 3 different target areas. Included is the extension of the Pit resource to the southwest and west, the Farm EM zone to the north and the Farm EM zone to the south.

Highlights Include:
Farm EM Zone

  • Discovery of a new oxide zone of mineralization 350 to 400 meters to the southwest of the Pit Resource. Drilling intercepted 3 separate intervals in the new zone, including DH 135, which returned 104 gpt Silver Eqv (81 gpt Ag and 0.97% Pb+Zn) over 10 meters, including 3 meters grading 246 gpt Silver Eqv (176 gpt Ag and 3.04% Pb+Zn)

  • DH 140 returned 9 meters of 47 gpt Silver Eqv (33 gpt Ag and 0.60% Pb+Zn)

North of Pit Resource

  • DH 129 intercepted 2 intervals including 60 meters returning 58 gpt Silver Eqv (31 gpt Ag and 1.18% Pb+Zn) including 22 meters of 96 gpt Silver Eqv (50 gpt Ag and 1.96% Pb+Zn) and 4 meters of 57 gpt Silver Eqv (33 gpt Ag an 1.03% Pb+Zn)

  • DH 137 returned 3 different intercepts approximately 50 to 75 meters up dip of DH 129 including 21 meters of 39 gpt Silver Eqv (22 gpt Ag and 0.72% Pb+Zn, 15 meters of 52 gpt Silver Eqv (31 gpt Ag and 0.91% Pb+Zn)

States Kootenay CEO James McDonald "We are very pleased with results from step-out drilling. Assays returned a series of encouraging intercepts from a newly discovered mineralized zone in the Farm EM target area, which sits over 350 meters to the southwest of the Pit resource and remains open in several directions. Additionally, mineralization in the Pit resource continues to open up to the north and west. Ongoing drilling and technical analysis will continue to focus on delineating the extent of mineralization in the Pit area and on determining the geometry of the new zone and its relation to the Pit Resource mineralization."

Table of the full results follows:

13-March-13 News Release
Hole ID Target From To Interval *AgEq
(Ag,Pb,Zn)
Ag Pb Zn Pb+Zn
(m) (m) (m) (gpt) (gpt) (%) (%) (%)
DH-129-13 North of Pit 283 287 4 57 33 0.39 0.63 1.02
DH-129-13 North of Pit 319 379 60 58 31 0.58 0.6 1.18
including   North of Pit 354 376 22 96 50 1.01 0.96 1.96
DH-135-13 Farmhouse EM 40 54 14 39 37 0.06 0.03 0.08
DH-135-13 Farmhouse EM 63 72 9 50 45 0.06 0.13 0.19
DH-135-13 Farmhouse EM 83 93 10 104 81 0.59 0.38 0.97
including   Farmhouse EM 86 89 3 246 176 1.87 1.17 3.04
DH-136-13 Farmhouse EM 266 268 2 132 66 1.04 1.85 2.89
DH-137-13 North of Pit 234 255 21 39 22 0.31 0.4 0.72
DH-137-13 North of Pit 283 298 15 52 31 0.45 0.46 0.91
DH-137-13 North of Pit 337 344 7 33 17 0.32 0.41 0.73
DH-140-13 Farmhouse EM 19 28 9 47 33 0.01 0.59 0.60
Holes 130 to 134, 138 and 139 contained no significant results or only anomalous values. All holes displayed alteration and were
within the mineral system. DH 133 was stopped short of the projected mineralization in DH 129.
*Assuming 100% Metallurgical Recovery
*Prices used in Silver Equivalent (AgEq) Calculations:
Ag  dollars/oz     $28.90
Pb  dollars/lb     $1.00
Zn  dollars/lb     $0.95 

 

To view map of drill results visit: http://www.kootenaysilver.com/s/DrillResults.asp

In addition to the Ag, Pb, Zn results returned from drilling, the following gold grades detailed in the chart below were also encountered. Recent metallurgical and oxidation testing has shown that there is potential to recover gold in the Promontorio system through an oxidation process. As a result, the gold is now being reported in a separate table. While additional technical work is required to further assess the logistics and economic viability of this process and how it pertains to the Promontorio resource, the Company feels at this time that it is prudent to begin recognizing the gold component of the resource as a potential future benefit. Additional technical and metallurgical testing on the gold is underway and will be reported once received.

Table 2 Showing Results with Gold Assays Included:

13-March-13 News Release
Hole ID Target From To Interval *AgEq
(Ag,Au,Pb,Zn)
Ag Au Pb Zn   Pb+Zn  
(m) (m) (m) (gpt)   (gpt)     (gpt)   (%) (%) (%)
DH-129-13 North of Pit   283.00     287.00   4 94 33 0.73 0.39 0.63 1.02
DH-129-13 North of Pit 319.00 379.00 60 81 31 0.45   0.58     0.60   1.18
including North of Pit 354.00 376.00 22 132 50 0.71 1.01 0.96 1.96
DH-135-13 Farmhouse EM   40.00 54.00 14 40 37 0.02 0.06 0.03 0.08
DH-135-13 Farmhouse EM 63.00 72.00 9 52 45 0.05 0.06 0.13 0.19
DH-135-13 Farmhouse EM 83.00 93.00 10 113 81 0.17 0.59 0.38 0.97
including Farmhouse EM 86.00 89.00 3 274 176 0.54 1.87 1.17 3.04
DH-136-13 Farmhouse EM 266.00 268.00 2 144 66 0.23 1.04 1.85 2.89
DH-137-13 North of Pit 234.00 255.00 21 57 22 0.35 0.31 0.40 0.72
DH-137-13 North of Pit 283.00 298.00 15 86 31 0.65 0.45 0.46 0.91
DH-137-13 North of Pit 337.00 344.00 7 51 17 0.34 0.32 0.41 0.73
DH-140-13 Farmhouse EM 19.00 28.00 9 79 33 0.63 0.01 0.59 0.60
29-Jan-13 News Release
Hole ID Target From
To
  Interval   *AgEq
  (Ag,Au,Pb,Zn) 
Ag
Au
Pb Zn Pb+Zn
(m) (m) (m) (gpt) (gpt) (gpt) (%) (%) (%)
DH-121-12 NE Zone 149.00 169.00 20 53 19 0.38 0.28 0.33 0.62
including NE Zone 154.00 155.00 1 320 111 2.81 1.52 1.28 2.80
DH-121-12 NE Zone 182.00 187.00 5 59 19 0.50 0.28 0.35 0.62
DH-121-12 NE Zone 249.00 253.00 4 142 43 1.39 0.47 0.74 1.21
DH-121-12 NE Zone 324.00 327.00 3 103 84 0.22 0.05 0.29 0.34
DH-121-12 NE Zone 484.00 531.00 47 74 31 0.23 0.67 0.66 1.32
including NE Zone 504.00 521.00 17 111 48 0.32 1.02 0.98 2.00
DH-122-12 NE Zone 132.00 136.00 4 43 19 0.11 0.75 0.04 0.78
DH-122-12 NE Zone 264.00 270.00 6 74 33 0.29 0.53 0.59 1.12
DH-123-12 NE Zone 268.00 273.00 5 53 27 0.35 0.29 0.03 0.32
DH-123-12 NE Zone 316.00 322.00 6 173 34 1.72 1.34 0.82 2.16
DH-124-12 NE Zone 318.00 323.00 5 224 89 1.39 1.29 1.45 2.74
DH-124-12 NE Zone 338.00 342.00 4 60 25 0.24 0.35 0.61 0.97
DH-124-12    NE Zone 348.00 376.00 28 54 18 0.31 0.43 0.46 0.89
including NE Zone 357.00 363.00 6 108 36 0.55 1.00 0.88 1.89
DH-124-12 NE Zone 385.00 405.00 20 53 19 0.33 0.40 0.34 0.73
including NE Zone 387.00 390.00 3 208 74 1.53 1.39 1.00 2.40
DH-125-12 NE Zone 131.00 137.00 6 142 106 0.44 0.32 0.27 0.59
DH-125-12 NE Zone 324.00 327.00 3 69 44 0.20 0.36 0.27 0.63
DH-125-12 NE Zone 342.00 351.00 9 142 31 1.79 0.48 0.35 0.83
DH-125-12 NE Zone 376.00 390.00 14 147 59 1.04 0.74 0.76 1.50
including NE Zone 380.00 383.00 3 310 129 2.15 1.58 1.47 3.06
DH-126-12 NE Zone 89.00 90.00 1 547 491 0.42 0.69 0.79 1.48

At present, three core drills are operating on Promontorio. One rig is currently operating in the Dorotea Zone, a second rig is drilling the Pit Resource northern extension area and a third rig is drilling the new discovery area in the Farm EM zone.

The current 30,000 meter, multi-phase drill and resource expansion program is the largest single drill campaign conducted on Promontorio to date.

Current NI 43-101 Compliant Silver Resource

The most recent updated NI 43-101 mineral estimate on Promontorio (See KOOTENAY News Release - August 21, 2012) contains a combined Measured and Indicated silver resource of 61,679,000 silver equivalent ounces (37.5M oz's Silver, 372M lb's Lead, 436.9M lb's Zinc). In addition to the measured and indicated silver resources, there are an additional 14,469,000 silver equivalent ounces in the Inferred category (9.6M oz's Silver, 77.6M lb's Lead, 85.3M lb's Zinc). (Measured and Indicated resources are contained in open pit resources of 36,018,000 tonnes grading an average of 51.35 gpt silver equivalent (31.18 gpt Ag and 0.98% Pb+Zn) and underground resources of 2,216,000 tonnes grading an average of 48.75 gpt silver equivalent (30.15 gpt Ag and 0.98% Pb+Zn). Inferred resources are within open pit resources of 9,136,000 tonnes grading an average of 42.86 gpt silver equivalent (28.32 gpt Ag and 0.17% Pb+Zn) and underground resources of 3,077,000 tonnes grading an average of 53.90 gpt silver equivalent (35.94 gpt Ag and 0.88% Pb+Zn)).

The foregoing geological disclosure has also 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 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.

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.

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.

For further information:

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


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.