Kootenay Silver (
TSX: V.KTN,
Forum) advanced their exploration efforts when the company announced today that it was preparing to conduct a 3,000 metre drill program on its wholly-owned La Cigarra silver project located in Chihuahua State, Mexico.
According to the
news release, the drill program is expected to start in Q3 2016 and is designed to test the high priority RAM target and to expand La Cigarra’s current mineral resource estimate by targeting continuity of high-grade trends recently identified within the resource.
In conjunction with the preparation of the drill program, Kootenay’s technical team has been focused on advancing the La Cigarra deposit with the goal of moving toward a Preliminary Economic Assessment (PEA). The company has been assessing the potential to increase grade at the project.
A larger drill program will be designed once re-logging to assess the potential to model the high-grade zones and the 3,000 metre program are complete.
Company President and CEO, James McDonald, commented, “We are very excited to proceed with a targeted drill program on La Cigarra mineral resource and the nearby RAM target. The objective will be to further enhance the size and grades of our established silver resource estimate on La Cigarra prior to proceeding with a Preliminary Economic Assessment on the project. Concurrently, we will conduct the first drill test on our high priority RAM target that is a large, structurally controlled trend that demonstrates significant potential to further add to our current silver resources.”
Kootenay Silver was in the news recently when
the Vancouver-based company announced sampling results at La Soledad Zone, La Cigarra Project back at the beginning of May.
Shares were up 6.10% to $0.435 per share.
Currently there are 88.51m outstanding shares with a market cap of $36.29 million.
FULL DISCLOSURE: Kootenay Silver is a Stockhouse Publishing client.