Kootenay Reports Multiple Porphyry Gold-Copper Targets Interpreted from Airborne Magnetic and Radiometric Survey Data at Cervantes Project, Mexico - Under Option to Aztec Minerals
TSX VENTURE: KTN
VANCOUVER, April 16, 2019 /CNW/ - Kootenay Silver Inc. (TSXV: KTN) (the "Company" or "Kootenay") is pleased to report that Aztec Minerals Corp. ("Aztec Minerals") today announced interpretation of the recently completed airborne magnetic and radiometric survey data has interpreted multiple high-quality undrilled porphyry gold-copper targets on the Cervantes property in Sonora, Mexico.
The Cervantes Property is held under an earn-in option to agreement whereby Aztec Minerals can acquire up to 100% interest in the property in two stages, with Kootenay retaining a 2.5 % NSR and receiving a payment of US$5.00 per ounce or gold equivalent based on a NI 43-101 Resource Estimate. See Kootenay news release dated October 13, 2015.
- California is flanked by a substantial magnetic high on the east side, two magnetic anomalies on the southeast side, and sits in a lower magnetic embayment where the strongest alteration and mineralization were mapped, sampled and drilled by Aztec. The phyllic-argillic alteration is thought to have destroyed any magnetite in the QFP, typical of mineralized porphyry systems. There are no magnetic rocks on the surface nor in the drill core, thus the adjacent large-scale magnetic high is interpreted to be a larger intrusion, possibly with potassic-magnetite alteration. The IP chargeability high related to sulfide mineralization correlates well with both magnetic lows and highs and the resistivity high correlates to magnetic highs typically associated with intrusions. The strong chargeability high and strong magnetic high are both appealing drill targets
- Estrella is located between Purisima East and Jasper, marked by a prominent 3.0 km long by 1.0 km wide, NW-SE trending, strong magnetic high, about 65% covered by andesitic volcanics sitting on top of a low angle fault, thus prospective targets may exist below the andesites. Outcrops of hornfels containing pyrrhotite, pyrite, and chalcopyrite are found throughout the target area with QFP dikes. Three parallel but unique magnetic anomalies are interpreted to be buried intrusions, one of which outcrops towards the north as QFP and returned rock samples grading up to 3.91 gpt gold and 0.2% copper, an excellent drill target
- California North is a substantial magnetic high associated with an IP chargeability high forming a thick rind to the magnetic high at depth, providing an attractive target
- Purisima East is a moderate to weak magnetic anomaly within a circular feature, interpreted to be a diatreme body, with a very high radiometric anomaly, indicative of a high-level intrusion
The Kootenay scientific and technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and reviewed and approved on behalf Kootenay by James McDonald, P.Geo, President, CEO & Director for Kootenay, a Qualified Person.
About Kootenay Silver Inc.
Kootenay Silver Inc. is an exploration company actively engaged in the discovery and development of mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. Supported by one of the largest portfolios of silver assets in Mexico, Kootenay continues to provide its shareholders with significant leverage to silver prices. The Company remains focused on the expansion of its current silver resources, new discoveries and the near-term economic development of two of its priority silver projects located in prolific mining districts in Sonora, State and Chihuahua, State, Mexico, respectively.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
The information in this news release has been prepared as at April 16 , 2019. Certain statements in this news release, referred to herein as "forward-looking statements", constitute "forward-looking statements" under the provisions of Canadian provincial securities laws. These statements can be identified by the use of words such as "expected", "may", "will" or similar terms.
Forward-looking statements are necessarily based upon a number of factors and assumptions that, while considered reasonable by Kootenay as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Many factors, known and unknown, could cause actual results to be materially different from those expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. Except as otherwise required by law, Kootenay expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any such statements to reflect any change in Kootenay's expectations or any change in events, conditions or circumstances on which any such statement is based.
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.