Mr. James McDonald reports
DRILLING SUCCESS CONTINUES AT PROMONTORIO AS KOOTENAY HITS 205 METERS OF 117 GPT SILVER EQUIVALENT IN STEP-OUT DRILLING IN SOUTHWEST ZONE THAT INCLUDES 169 GPT SILVER EQUIVALENT OVER 50 METERS
Kootenay Gold Inc. has released assay results from the first seven holes of its continuing 25,000-metre multiphase drilling program on its Promontorio silver project in Sonora, Mexico.
Results include three holes (DH 54 to 56) of infill drilling of the pit resource and four holes (DH 58 to 61) into the Southwest zone outside of the pit resource designed to confirm continuity between the two mineralized areas. Results from the first seven holes demonstrate that widely disseminated zones of silver mineralization extend beyond current resource boundaries and continuation of higher grades within the pit resource.
Kootenay president and chief executive officer, James McDonald, states: "We are very pleased with results from the first seven holes of our 25,000-metre drill program. Not only is diamond drilling continuing to hit higher grades of silver at depth where previous drilling bottomed out in silver mineralization within the pit resource itself, equally important to our resource expansion program, we are seeing continuity of silver mineralization developing in the Southwest zone from step-out drilling that returned impressive intervals and grades of widespread silver mineralization extending to depth."
Highlights from the seven holes
- DH 54
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- A total of 80 grams per tonne silver equivalent over 103 metres, including 105 gpt silver equivalent over 68 metres;
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- DH 54, tested 120 metres downdip of DH 53 (146 gpt silver equivalent over 234 metres announced May 31, 2011);
- DH 56
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- A total of 116 gpt silver equivalent over 251 metres, including 186 gpt silver equivalent over 66 metres;
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- DH 56 on section with DH 55 and 57 and infill drilling of the pit resource, and an approximate 25-metre step-out to the northeast of DH 53 and 54;
- DH 61
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- A total of 96 gpt silver equivalent over 182 metres, including 290 gpt silver equivalent over 24 metres;
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- DH 61 drilled outside of the pit resource showing mineralization continuing about 50 metres into the Southwest zone;
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- DH 58, 59 and 60 on section with DH 61;
- DH 60
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- A total of 71 gpt silver equivalent over 107 metres, including 237 gpt silver equivalent over 12 metres;
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- A total of 85 gpt silver equivalent over 58 metres with 129 gpt silver equivalent over 23 metres in a second deeper interval;
- DH 58
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- A total of 117 gpt silver equivalent over 205 metres, including 169 gpt silver equivalent over 50 metres and 152 gpt silver equivalent over 48 metres.
Visit the company's website for complete drill results and a map.
Attached in a table are the full results.
DRILLING RESULTSHole ID From To Interval AgEq (Ag, Pb, Zn)* Ag Pb Zn Pb+Zn (m) (m) (m) (gpt) (gpt) (%) (%) (%)DH-054-11 269.00 280.00 11 48 17 0.38 0.35 0.73DH-054-11 334.00 437.00 103 80 26 0.39 0.88 1.28including 351.00 419.00 68 105 32 0.49 1.21 1.71DH-054-11 535.00 537.00 2 82 41 0.93 0.01 0.95DH-054-11 615.00 621.00 6 29 29 0.00 0.01 0.01DH-055-11 92.00 94.00 2 429 149 2.51 4.06 6.57DH-055-11 143.00 189.00 46 89 36 0.57 0.67 1.24including 173.00 185.00 12 142 58 0.83 1.14 1.97DH-055-11 282.00 288.00 6 185 86 1.29 0.99 2.28DH-055-11 314.00 320.00 6 79 43 0.38 0.46 0.84DH-056-11 73.00 93.00 20 52 52 0.00 0.01 0.01DH-056-11 156.00 407.00 251 116 47 0.78 0.82 1.60including 259.00 325.00 66 186 77 1.29 1.24 2.54DH-058-11 132.00 337.00 205 117 49 0.76 0.83 1.59including 156.00 204.00 48 152 62 0.91 1.20 2.11including 230.00 280.00 50 169 74 1.15 1.06 2.21DH-058-11 347.00 352.00 5 134 50 1.03 0.93 1.96DH-058-11 364.00 371.00 7 112 43 0.80 0.82 1.61DH-059-11 114.00 174.00 60 41 21 0.21 0.24 0.45including 147.00 149.00 2 340 166 1.96 2.11 4.06including 171.00 174.00 3 136 67 0.71 0.90 1.61DH-059-11 214.00 269.00 55 27 13 0.17 0.15 0.33including 266.00 269.00 3 130 63 1.05 0.49 1.53DH-060-11 94.00 201.00 107 71 31 0.40 0.52 0.92including 153.00 165.00 12 237 116 1.15 1.68 2.83DH-060-11 245.00 258.00 13 284 116 2.00 1.91 3.91DH-060-11 280.00 338.00 58 85 35 0.58 0.58 1.16including 284.00 307.00 23 129 51 0.89 0.92 1.81DH-061-11 157.00 161.00 4 96 43 0.60 0.64 1.23DH-061-11 178.00 217.00 39 83 34 0.52 0.62 1.14DH-061-11 279.00 375.00 96 182 72 1.27 1.30 2.58including 318.00 342.00 24 290 114 2.01 2.09 4.10* Prices used in silver equivalent calculations: silver per ounce: $15;zinc per pound: 91 cents; and lead per pound: 97 cents.
At present, three diamond drill rigs are 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, which previously bottomed in 237 gpt silver equivalent over 51 metres (see news release on April 4, 2011). PC 28 sits 700 metres outside and on strike to the current NI 43-101 pit resource.
The company reports 10 additional drill holes have been completed with samples sent to the lab for assaying. Three additional holes are currently in progress on Promontorio.
Coming drilling will continue to concentrate on step-out and infill drilling offsetting the numerous silver intercepts concentrated along a 1.0-kilometre-long mineralized corridor that includes the pit resource, Pit Northeast zone, Northeast zone and Southwest zone.
The current 25,000-metre infill drilling and resource definition program represents the single largest and most expansive drilling campaigns conducted by Kootenay on the Promontorio silver project to date.
Updated NI 43-101 resource calculation to commence at conclusion of program
Kootenay reports that an updated NI 43-101 resource calculation on Promontorio is planned to commence at the conclusion of the program. In anticipation of further advancing the development of Promontorio, the company reports preliminary work for baseline studies, and further metallurgical and scoping studies will be initiated concurrent with the drilling program.
Quality assurance/quality control
All holes reported here were drilled with HQ-sized diamond drill core with sections reduced down to NQ-sized core. Core samples were cut using a core saw with one- to two-metre-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 metres of strike by 60 metres of horizontal width in a range of 20 to 90 metres and to a 400-metre depth. Further quality assurance and control procedures are posted on the Kootenay website.
We seek Safe Harbor.