2016-12-01 13:49 PT - News Release
Mr. David Schmidt reports
KOOTENAY ZINC CORP. DRILLING UPDATE & NEW GRAVITY SURVEY BEGINS AT SULLY
Kootenay Zinc Corp. has recently stopped the drilling of hole SY16-10 at the Sully project due to new results in gravity modelling and observations made of the geology intersected in the hole. Also, Excel Geophysics Inc. has mobilized to the site to undertake additional surveys of the new anomalies described previously as E2 and E3, both located in the East target area.
Drilling update
Diamond drilling of hole SY16-10 was progressing very well; however, as the hole deepened, three things became apparent:
- Modelling of the current gravity data set suggests the target is much closer to surface than previously defined and has an apparent east dip of about 60 degrees to the east. SY16-10's trajectory would have missed this new understanding of the target geometry.
- Geological information, both from mapping and drilling, shows that strata are folded with dips from steep east to steep west and faulted such that, with depth, offsets are progressively farther east. The overall effect produces an apparent uniform 60-degree-east dip to the gravity field.
- A fault at 242 metres in SY16-10 appears to be a low-angle, west-dipping normal fault that offsets the stratigraphy (and therefore the target) such that the target is probably farther east at depth than originally thought.
Based on these observations, the project team elected to suspend deepening of hole SY16-10; however, it can be re-entered in the future if required.
Applications for new permits have recently been filed with the Ministry of Energy and Mines for several new drill collar sites that will allow for effective testing of the newly defined East anomalies. Drilling is planned to resume in early 2017 after the holiday break and updates will be provided at that time.
Gravity survey update
As described in previous news, modelling of the new data set showed a well-defined, north-trending feature up to 700 metres long, now named E1. This anomaly is within the upper portion of Hughes Range Aldridge stratigraphic unit (A1c) that correlates with the Sullivan time horizon. Initial drilling is intended to test the highest amplitude area in the southern part of the elongate E1 anomaly, best explained by the presence of a stratabound (possibly sedex) mass coincident with Sullivan time.
The gravity survey has also identified two new mass anomalies (E2 and E3), expanding the potential of the greater East target area and providing a new understanding of faulting of a theorized sedex (sedimentary exhalative) mass. E2 and E3 include higher-magnitude mass anomalies occurring in en echelon steps to the northeast that together constitute another 700 metres plus of strike extent. The E2 and E3 anomalies are also inferred to coincide with the upper portion of Hughes Range Aldridge stratigraphic unit (A1c) that contains the Sullivan time horizon and to be beneath a low-angle normal fault that effectively blinds the targets to surface. Based on preliminary interpretation of the gravity results, these may be comparatively shallow targets. Excel Geophysics has recently remobilized to the Sully project to undertake detailed gravity survey over new anomalies defined at the East target at the Sully property.
The West mass anomaly remains essentially untested, and the project team will determine opportunities and methods to further advance that target area with additional surveys in the future.
OTCQB listing
The company has applied for listing of its common shares on the OTCQB market in the United States. The company will provide further particulars upon completion of the approval process, which is expected to take several takes.
The Sully property
The Sully property comprises 1,375 hectares located approximately 30 kilometres east of Kimberley, B.C., and overlies rocks of similar age and origin as those that host the world-class Sullivan deposit, owned by Teck Resources Ltd. Sullivan was discovered in 1892 and is known to be one of the largest sedex deposits in the world. Over its 100-year lifetime, Sullivan produced approximately 150 million tonnes of ore, including three billion ounces of silver, eight million tonnes of zinc and eight million tonnes of lead. The equivalent level of strata as at Sullivan and that formed on the margin of that same basin is present at the Sully property. The company cautions that past results or discoveries on proximate land are not necessarily indicative of the results that may be achieved on the Sully property.
The scientific and technical information contained in this news release has been reviewed and approved by the company's project manager, Paul Ransom, PGeo, a qualified person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.
We seek Safe Harbor.