Shares Outstanding: 44,958,100
VANCOUVER, June 29, 2011 /CNW/ - Kootenay Gold Inc. (TSX VENTURE: KTN.V) is pleased to announce it now has three core drills operating at the
Company's Promontorio Silver Project in Sonora, Mexico with the recent
commencement of drilling of the third diamond drill rig.
As previously announced on May 31, 2011, the drills are executing a
25,000 meter diamond drill program to follow up on the success of the
Company's recently concluded 10,000 meter drill program on Promontorio.
The current drill program represents the single largest and most
expansive drilling campaigns conducted on Promontorio to date. The
multi-phase step out and in-fill drilling program at Promontorio will
be ongoing for the next several months.
The three core drills will be concentrating on step out holes and
in-fill drilling to determine continuity between the numerous medium to
high-grade silver intercepts encountered along Promontorio's 1.0
kilometer mineralized corridor. This corridor includes the Pit
Resource, Pit NE zone, Northeast Zone and the Southwest zone.
The objective of the program is to define Promontorio's mineralized
boundaries and to determine the continuity and grade of silver
mineralization between individual drill intercepts at surface and at
depth to begin establishing the overall size and scope of the contained
The Company plans to provide an updated NI 43-101 resource calculation
at the conclusion of the program. To further accelerate the future
permitting and feasibility process on Promontorio, preliminary work for
baseline, further metallurgical and technical studies have been
initiated in conjunction with the current drilling program.
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.
Kootenay Gold 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.
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. 2011 number 14
SOURCE Kootenay Gold 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.kootenaygold.ca