News and Halted
posted on
Dec 10, 2007 04:34AM
Kootenay's La Negra prospect is a significant and exciting new high grade silver discovery that offers exceptional potential to evolve into a substantial near surface, open-pit resource.
Marketwire
Kootenay Gold Inc.
December 10, 2007 - 05:00:31 AM
Kootenay Drilling Confirms Widespread, High-Grade Mineralization: Highlights
Include 18.4 Meters Grading 950 g/t & 151 Meters Grading 162 g/t
Silver-Equivalent at Promontorio
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 10, 2007) - Kootenay Gold Inc.
(TSX VENTURE:KTN) ("Kootenay" or "the Company") is pleased to report results
from the first phase of drilling on the Promontorio Silver project in Sonora,
Mexico. The 22-hole program included drilling on the Pit, Central and Adobe
Breccias.
Drilling has encountered wide to moderate intervals of high-grade silver-gold
polymetalic breccias in a porphyry breccia setting. Results received to date
report twenty of the twenty-two holes intersected significant precious and
base metal mineralization starting from surface and extending to depth.
Jim McDonald, CEO of Kootenay commented: "These results indicate that the
individual Breccias drilled in the first phase are part of a single, large
mineralized system with distinct characteristics indicative of a porphyry
system. Accordingly, drill data suggests the Promontorio may contain a deposit
of larger scale and scope than previously conceived".
Highlights of Drill results in this press release:
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Drill Hole From To Interval Silver Gold Pb+Zn SilverEqv.
Number (m) (m) Width (m) (g/t) (g/t) (%) (g/t)
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Location: Pit Breccia
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KP-02-07 71.15 94.40 23.25 233.5 1.47 3.79 527.9
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KP-05-07 66.37 80.78 14.41 338.9 1.80 4.54 698.7
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including 74.87 80.78 5.91 664.0 2.65 7.98 1265.7
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KP-09-07 61.85 80.25 18.40 366.0 3.54 6.74 950.4
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including 61.85 68.55 6.70 671.2 3.46 7.87 1314.6
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Location: Adobe Breccia
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KP-17-07 8.38 86.15 77.77 30.9 0.43 1.29 129.2
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including 47.66 63.20 15.54 56.4 0.84 2.87 267.8
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including 27.40 38.85 11.45 55.5 1.12 2.46 259.9
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including 27.40 63.20 35.80 48.4 0.77 2.19 217.1
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KP-22-07 45.47 196.85 151.38 46.0 0.48 1.56 162.0
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including 144.43 196.85 52.42 86.1 0.83 2.73 288.0
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including 172.17 196.85 24.68 117.4 1.34 3.88 413.9
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including 190.85 195.77 4.92 210.5 3.32 7.19 805.5
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Note: Silver equivalent was calculated using $790 Au;
$14 Ag; $1.25 Pb; $1.10 Zn
Pit Breccia:
Holes KP-01-07 to KP-13-07 drill tested the Pit Breccia where previous surface
chip sampling returned 480.14 gpt Ag, 2.51 gpt Au, over 19 meters and 75.6 gpt
Ag and 0.99 gpt Au over 25 meters including 150.67 gpt Ag and 0.86 gpt Au over
6 meters. Drilling tested the Pit Breccia along a strike of 120 meters and a
dip extent of 160 meters. Andesite is the host rock and is brecciated,
fractured and variously altered and mineralized throughout. The best grading
mineralization is generally within a 5 to 25 meters wide zone that occurs near
the bottom of the breccia above a reverse fault. Brecciation is variable
throughout the holes but fracturing and alteration (weak to strong) occurs
throughout the intercepts.
Adobe Breccia:
Holes KP-17-07 to KP-07-20 and KP-22-07 drill tested what is called the Adobe
Breccia. These holes are significant as they encountered a well developed and
well-mineralized breccia starting from surface and continuing to a minimum
vertical depth of 195 meters. Also, alteration changes from a calcite dominant
propylitic alteration in the Pit Breccia to a biotite-sericite-silica
alteration in the Adobe Breccia.
Central Breccia:
Holes KP-14-07 to KP-16-07 were drilled into the central Breccia to test an
historic exploration shaft and surface chip sampling that returned 62.78 gpt
and 0.402 gpt Au over 11 meters including 152.5 gpt Ag and 1.41 gpt Au over
3.5 meters.
Drilling reported herein tested an area measuring approximately 175 meters by
270 meters, excepting a single hole drilled some 200 meters to the east (Hole
KP-21-07). Further airborne geophysics indicates the mineralized area may
extend over an area measuring over 2000 meters by 500 meters.
Additional detail on Phase I Drilling
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Drill Hole From To Interval Silver Gold Pb+Zn SilverEqv.
Number (m) (m) Width (m) (g/t) (g/t) (%) (g/t)
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Location: Pit Breccia
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KP-01-07 52.00 55.93 3.93 86.4 0.79 0.30 148.1
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KP-01-07 56.20 58.34 2.14 270.1 0.35 1.05 352.0
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KP-02-07 71.15 94.40 23.25 233.5 1.47 3.79 527.9
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including 79.05 94.40 15.35 340.7 1.78 4.20 677.8
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KP-04-07 110.60 130.25 19.65 18.4 0.50 0.34 66.2
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KP-05-07 66.37 80.78 14.41 338.9 1.80 4.54 698.7
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including 74.87 80.78 5.91 664.0 2.65 7.98 1265.7
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KP-06-07 110.02 121.93 11.91 194.2 1.25 1.71 362.3
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including 117.87 121.93 4.06 492.7 1.63 4.08 815.5
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KP-06-07 129.85 136.72 6.87 407.7 0.85 4.09 689.2
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including 130.73 136.72 5.99 462.3 0.93 4.63 779.3
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KP-06-07 17.20 18.90 1.70 34.8 0.63 1.69 163.3
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KP-07-07 48.95 62.15 13.20 29.7 0.62 1.34 140.3
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including 51.00 55.29 4.29 44.0 1.09 2.22 230.9
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KP-08-07 17.47 33.01 15.54 51.5 0.97 0.63 142.1
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including 17.47 24.00 6.53 71.2 1.32 0.76 188.9
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KP-08-07 41.35 45.85 4.50 13.1 0.54 0.51 71.9
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including 41.35 45.15 3.80 14.8 0.63 0.59 83.1
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KP-09-07 61.85 80.25 18.40 366.0 3.54 6.74 950.4
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including 61.85 68.55 6.70 671.2 3.46 7.87 1314.6
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KP-10-07 52.75 61.96 9.21 7.5 0.08 0.09 16.8
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KP-10-07 104.22 108.13 3.91 26.4 0.11 0.47 59.6
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KP-10-07 32.60 35.56 2.96 1.0 0.09 0.09 10.9
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KP-10-07 70.10 71.69 1.59 12.9 0.23 0.02 27.3
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KP-10-07 113.78 115.10 1.32 145.0 1.21 0.68 252.4
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KP-11-07 5.58 8.46 2.88 4.9 0.15 0.03 14.8
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KP-12-07 50.43 62.73 12.30 6.5 0.14 0.37 35.4
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KP-12-07 111.20 115.00 3.80 95.5 1.30 2.75 325.3
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KP-12-07 127.20 127.74 0.54 158.5 3.83 5.10 665.0
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KP-13-07 57.00 60.36 3.36 48.3 0.58 0.34 100.5
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Location: Central Breccia
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KP-14-07 58.88 62.17 3.29 11.2 0.11 1.19 85.6
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KP-14-07 19.20 20.75 1.55 33.9 0.57 0.54 98.5
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KP-14-07 43.30 44.08 0.78 8.6 0.34 1.07 87.9
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KP-15-07 119.91 124.18 4.27 8.4 0.27 0.66 62.6
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KP-15-07 63.45 65.40 1.95 579.8 0.98 7.86 1087.0
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including 64.20 65.40 1.20 942.1 1.51 12.70 1757.3
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KP-15-07 26.85 27.40 0.55 96.0 0.70 0.30 153.4
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KP-16-07 10.55 22.23 11.68 17.7 0.15 0.51 55.3
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KP-16-07 50.30 50.68 0.38 0.5 0.34 0.42 44.0
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Location: Adobe Breccia
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KP-17-07 8.38 86.15 77.77 30.9 0.43 1.29 129.2
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including 27.40 63.20 35.80 48.4 0.77 2.19 217.1
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including 47.66 63.20 15.54 56.4 0.84 2.87 267.8
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including 27.40 38.85 11.45 55.5 1.12 2.46 259.9
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KP-18-07 18.75 23.37 4.62 34.4 0.29 1.65 143.9
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KP-18-07 50.65 53.20 2.55 4.4 0.12 0.48 38.8
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KP-18-07 34.81 35.28 0.47 20.6 0.07 0.63 60.4
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KP-18-07 64.13 64.55 0.42 6.9 0.20 0.70 58.8
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KP-18-07 29.40 29.80 0.40 0.0 0.20 0.82 56.9
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KP-18-07 39.37 39.63 0.26 6.9 0.16 0.62 50.4
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KP-19-07 8.90 61.80 52.90 29.0 0.23 0.76 85.3
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including 24.40 27.35 2.95 137.9 0.93 4.27 434.7
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KP-20-07 35.55 104.60 69.05 25.4 0.52 1.01 112.2
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including 60.65 83.10 22.45 40.8 0.99 2.06 213.9
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including 74.73 83.10 8.37 42.4 1.26 2.21 238.8
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including 67.10 73.10 6.00 38.7 1.42 2.92 285.8
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including 60.65 62.75 2.10 107.0 1.03 3.31 355.4
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including 40.00 40.75 0.75 31.7 8.68 1.68 618.0
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KP-20-07 5.50 12.45 6.95 4.8 0.16 0.42 37.9
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KP-22-07 45.47 196.85 151.38 46.0 0.48 1.56 162.0
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including 144.43 196.85 52.42 86.1 0.83 2.73 288.0
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including 166.45 196.85 30.40 111.0 1.18 3.60 382.0
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including 172.17 196.85 24.68 117.4 1.34 3.88 413.9
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including 190.85 195.77 4.92 210.5 3.32 7.19 805.5
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including 72.45 75.95 3.50 49.5 2.22 4.53 425.9
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KP-22-07 6.30 26.10 19.80 8.0 0.16 0.22 29.4
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Assays for Hole KP-03-07 and KP-21-07 are pending as are additional intervals
of each hole not reported above. A complete table showing the detail of collar
coordinates and of each sample interval used to calculate the above tables
will be posted on the Company's website at www.kootenaygold.ca. All intervals
reported are drill core length with true widths in the Pit Breccia interpreted
to be 80 to 90 % of drilled width. True widths in the Central and Adobe
Breccias are not known at this time.
Mineralization:
Mineralization occurs as pyrite, galena, sphalerite and possible silver
sulfosalts within fractures, breccias and as disseminations within an
andesitic flow unit. In the Pit and Central Breccias alteration is dominated
by sulfides associated with calcite veining and a propylitic carbonate
chlorite alteration. The best grades occur within a 25 meter interval
immediately above a northeast trending reverse fault interpreted to be coeval
with mineralization. Westward toward the Adobe Breccia alteration grades into
a distinct potassic biotite alteration over printed by strong phyllic
alteration with an increase in silica and a decrease in calcite. Sulfide
mineralization in the Adobe Breccia area is generally stronger and more
ubiquitous as is brecciation. Only one hole in the Adobe Breccia tested the
reverse fault, that is KP-22-07 which intercepted the fault at 200 meters and
like Pit Breccia mineralization encountered the best grades in a 25 meter
interval above the fault.
Drilling:
Drilling was contracted to Layne Drillling out of Hermosillo, Sonora, Mexico
and consisted of about 3000 meters of HQ sized core in 22 holes.
Sampling and Assaying:
All core samples were taken by cutting the core in halves with a rock saw with
one half going back to the core box for reference and the other being placed
into a plastic sample bag. Each sample bag is labeled with a number and
corresponding numbered tag in the bag and the top is sealed with wire. Each
plastic bag is placed in a sack and each sack is sealed with a zip tie. The
samples in each bag are then recorded and delivered to iPL's sample prep lab
in Hermosillo, Sonora, Mexico where a pulp is prepared and sent to iPL
Laboratories in Vancouver, B.C. for analysis.
All samples were taken in 0.3 to 2.0 meter intervals and the majority was 0.4
to 1.0 meters wide. Assays were done by multi acid digestion. Gold was
analyised with an AA finish with overlimits done with gravimetric finish while
silver was done with ICP and a gravimetric finish on overlimits while zinc was
analyised by ICP and lead by assay. Blanks are inserted both by the Company
and iPL and duplicates are run by iPL as quality control and assurance checks.
All field work related to the drilling was conducted and supervised by
Resource Geosciences De Mexico, S.A. De C.V. a geologic consulting firm based
out of Hermosillo, Sonora, Mexico.
The foregoing geological disclosure has been reviewed and verified by Dr.
Trygve Hoy, P.Geo. (A qualified person for the purpose of National Instrument
43-101, Standards of Disclosure for Mineral Projects) based upon solely on the
assay certificate and other information made available to Mr. Hoy. Mr. Hoy has
not visited the property or verified the sampling, analytical and test process
protocol. Mr. Hoy is a consultant for the Company engaged to provide technical
geological consulting services from time to time. The disclosure is for the
geological disclosure in this news release only.
Based on these initial results the company has commenced an IP survey, which
should be completed late 2007 and will assist in Phase II drill planning set
to commence early 2008.
Kootenay Gold Inc. is an exploration and mining Company actively developing
mineral exploration projects in British Columbia, Canada and Mexico. The
Company's top priority remains the ongoing aggressive development of its rich
Promontorio Silver project, which encompasses the former producing Promontorio
Silver Mine in Northwest Mexico.
To view a live interview with Jim McDonald on Kootenay's visit:
www.kootenaygold.ca.
FOR FURTHER INFORMATION PLEASE CONTACT:
Kootenay Gold Inc. James McDonald CEO (403) 238-6986
Kootenay Gold Inc. Ken Berry President (604) 601-5652 or 1-888-601-5650
Website: www.kootenaygold.ca
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.