Shares Outstanding: 62,738,850
VANCOUVER, July 30, 2013 /CNW/ - Kootenay Silver Inc. (TSX VENTURE: KTN.V) is pleased to report on ongoing hydrologic work and environmental
baseline studies required for the advancement of the Promontorio
resource.
Three monitoring wells have been installed along the main corridor of
mineralization stretching from the Northeast Zone through the Pit on to
the SW zone. The wells were installed to characterize the ground water
levels to be used to develop a conceptual hydrogeological model and to
determine additional information that is valuable at this stage of the
Promontorio Project. Information gathered includes, but is not limited
to:
-
Understanding groundwater on the property in terms of an initial
evaluation of pit dewatering requirements.
-
Initial evaluation of the potential for groundwater to supply a source
of water to the project.
-
Collection of initial baseline groundwater data that can be used to
support acquisition of regulatory permits and assess potential
environmental impacts.
This work is in preparation to evaluate groundwater conditions for
Promontorio, including potential water sources and dewatering that may
be required to sustain potential open pit or underground mining
operations and augment water supply.
In addition, environmental baseline work over a 12 month period is
complete and was done to analyze the characteristics of the surrounding
environment. Surveying and data collection, of flora and fauna
observations, sampling of soil, water and sediments and compilation of
information on climate and socio-economic data of the area of interest
were included. An analysis of geological and hydrological information
available for the area was also compiled. This study provides baseline
data needed to assess environmental impact of a future potential mining
operation. The work was conducted by Delia Patricia Aguayo Hurtado,
independent environmental consultant in Hermosillo, Sonora.
Geotechnical work completed to date includes the collection of extensive
rock quality data (RQD) and specific gravity measurements along with
point load testing measuring the shear strength of bedrock within and
outside the resource boundaries.
Current NI 43-101 Compliant Silver Resource
The most recent mineral estimate on Promontorio (See Kootenay News
Release---May 14, 2013) contains a combined Measured and Indicated
silver resource of 92,428,000 silver equivalent ounces (39.9M oz's Ag,
508K oz's Au, 394.8M lb's Pb, and 462.2M lb's Zn). In addition to the
measured and indicated silver resources, there are an additional
26,814,000 silver equivalent ounces in the Inferred category (12.8M
oz's Ag, 147 oz's Au, 99.5M lb's Pb, 109.1M lb's Zn). Measured and
Indicated resources are contained in open pit resources of 44,504,000
tonnes grading an average of 64.32 gpt silver equivalent (27.77 gpt Ag,
0.35 gpt Au and 0.87% Pb+Zn) and resources outside of the open pit of
215,000 tonnes grading an average of 56.96 gpt silver equivalent (22.89
gpt Ag, 0.28 gpt Au and 0.95% Pb+Zn). Inferred resources are within
open pit resources of 14,564,000 tonnes grading an average of 51.95 gpt
silver equivalent (24.95 gpt Ag, 0.28 gpt Au and 0.59% Pb+Zn) and
resources outside of the open pit of 1,265,000 tonnes grading an
average of 61.17 gpt silver equivalent (26.57 gpt Ag, 0.37 gpt Au and
0.74% Pb+Zn).
The foregoing geological disclosure has 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.
ABOUT KOOTENAY
Kootenay Silver Inc. is actively developing mineral projects in the
Sierra Madre Region of Mexico and in British Columbia, Canada. Its
flagship property is the former producing Promontorio Silver mine in
Sonora State, Mexico. Kootenay's objective is to develop near term
discoveries and long-term sustainable growth. Its 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.
This press release uses the terms "Measured", "Indicated", and
"Inferred" resources. United States investors are advised that while
such terms are recognized and required by Canadian regulations, the
United States Securities and Exchange Commission does not recognize
them. "Inferred Mineral Resources" have a great amount of uncertainty
as to their existence, and as to their economic and legal feasibility.
It cannot be assumed that all or any part of an Inferred Mineral
Resource will ever be upgraded to a higher category. Under Canadian
rules, estimates of Inferred Mineral Resources may not form the basis
of feasibility or other economic studies. United States investors are
cautioned not to assume that all or any part of Measured or Indicated
Mineral Resources will ever be converted into Mineral Reserves. United
States investors are also cautioned not to assume that all or any part
of a Mineral Resource is economically or legally mineable.
SOURCE: Kootenay Silver Inc.
