Shares Outstanding: 45,013,100
VANCOUVER, Nov. 9, 2011 /CNW/ - Kootenay Gold Inc. (TSX VENTURE: KTN.V) is pleased to announce assay results from an additional seven holes of its ongoing 25,000 meter, multi-phase in-fill drill and resource definition program on its Promontorio Silver project in Sonora, Mexico.
Results to date demonstrate drilling has established continuity of silver mineralization between the Southwest expansion zone and the Pit Resource, extending a further 100 meters westward beyond current resource boundaries down dip and along strike. These two areas now represent one continuous mineralized zone for a minimum strike length of 240 meters, remaining open on strike and at depth.
States Kootenay President and CEO James McDonald "Results from the 25,000 meter program continue to meet or exceed our expectations. The establishment of continuity of silver mineralization between the Southwest Zone and the Pit Resource is a milestone development for Promontorio and will undoubtedly play a critical factor in our future resource expansion. Further supporting our resource growth initiatives, we continue to hit high silver grades in wide zones of hydrothermal breccia in the emerging Northeast Zone, which sits a full 700 meters outside of and on strike to the current 43-101 resource."
At present, three diamond drill rigs are currently operating on Promontorio with two stepping out in a systematic manner outside of the Pit Resource to the southwest and northeast. The third rig is working on stepping out from PC 28 in the Northeast Zone.
The current 25,000 meter in-fill drilling and resource definition program represents the single largest and most expansive drilling campaigns conducted by Kootenay on the Promontorio Silver project to date.
Upcoming drilling will continue to focus on step out and in-fill drilling off setting the numerous medium to high grade silver intercepts concentrated along a 1.0 kilometer long mineralized corridor that includes the Pit Resource, Pit NE Zone, Northeast Zone and Southwest Zone.
Highlights are as follows:
Southwest Zone
DH 80
DH 72
DH 73
Pit Infill
DH 76
Northeast Zone
DH 74
DH 78
*See 25,000 meter highlights below - Previously released holes include DH 65, 66, 67, 68, 71. Visit http://www.kootenaygold.ca/s/DrillResults.asp for complete Drill Results and Map
The following table shows the full results:
Hole ID |
Target |
From (m) |
To (m) |
Interval (m) |
*AgEq (Ag,Pb,Zn) (gpt) |
Ag (gpt) |
Pb (%) |
Zn (%) |
Pb+Zn (%) |
DH-072-11 | Pit SW Extension | 162.00 | 258.00 | 96 | 108 | 42 | 0.71 | 0.82 | 1.53 |
including | Pit SW Extension | 196.00 | 203.00 | 7 | 247 | 99 | 1.62 | 1.84 | 3.45 |
DH-072-11 | Pit SW Extension | 283.00 | 344.00 | 61 | 77 | 33 | 0.52 | 0.52 | 1.04 |
including | Pit SW Extension | 337.00 | 344.00 | 7 | 233 | 101 | 1.45 | 1.64 | 3.09 |
DH-073-11 | Pit SW Extension | 184.00 | 250.00 | 66 | 65 | 24 | 0.42 | 0.52 | 0.94 |
including | Pit SW Extension | 198.00 | 217.00 | 19 | 100 | 36 | 0.65 | 0.86 | 1.51 |
DH-073-11 | Pit SW Extension | 271.00 | 288.00 | 17 | 64 | 29 | 0.38 | 0.44 | 0.81 |
DH-073-11 | Pit SW Extension | 333.00 | 353.00 | 20 | 86 | 37 | 0.58 | 0.55 | 1.13 |
DH-074-11 | NE Zone | 153.00 | 165.00 | 12 | 263 | 112 | 1.34 | 2.20 | 3.54 |
including | NE Zone | 160.00 | 165.00 | 5 | 562 | 227 | 2.96 | 4.89 | 7.85 |
DH-076-11 | Pit Infill | 236.00 | 324.00 | 88 | 73 | 28 | 0.51 | 0.53 | 1.03 |
DH-078-11 | NE Zone | 187.00 | 196.00 | 9 | 66 | 17 | 0.94 | 0.16 | 1.11 |
DH-078-11 | NE Zone | 217.00 | 248.00 | 31 | 44 | 23 | 0.22 | 0.26 | 0.48 |
DH-078-11 | NE Zone | 255.00 | 305.00 | 50 | 61 | 26 | 0.41 | 0.41 | 0.82 |
DH-078-11 | NE Zone | 322.00 | 395.00 | 73 | 48 | 21 | 0.38 | 0.24 | 0.62 |
including | NE Zone | 352.00 | 365.00 | 13 | 102 | 46 | 0.86 | 0.45 | 1.30 |
DH-080-11 | Pit SW Extension | 328.00 | 411.00 | 83 | 166 | 58 | 1.12 | 1.40 | 2.52 |
including | Pit SW Extension | 328.00 | 334.00 | 6 | 329 | 111 | 1.98 | 3.12 | 5.11 |
*Assuming 100% Metallurgical Recovery | |
*Prices used in Silver Equivalent (AgEq) Calculations: | |
Ag dollars/oz | 15.00 |
Zn dollars/lb | 0.91 |
Pb dollars/lb | 0.97 |
QA/QC
All holes reported here were drilled with HQ sized diamond drill core
with some sections reduced down to NQ sized core. Core samples were cut
using a core saw with 1 to 2 meter long sample intervals. All
mineralized intercepts are drill core length drilled across a
vertically inclined breccia system at angles of 45 to 70 degrees.
Dimensions of the breccia system are being determined. The current
resource sits approximately along 140 meters of strike by 60 meters of
horizontal width in a range of 20 to 90 meters and to a 400 meter
depth. Further Quality Assurance and Control procedures are disclosed
on the Kootenay Gold Inc. website.
The foregoing geological disclosure has also been reviewed by James McDonald, P. Geo (a qualified person for the purpose of National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. McDonald is the President and CEO and a director of Kootenay.
ABOUT 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.
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
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