Kootenay Silver Inc. (TSXV: KTN) says new drilling along the D Vein at its Columba silver project in Chihuahua, Mexico has identified new potential exploration targets. The stock rose in early trading.
The company has now reported results from 42 holes, with an additional 14 more awaiting assays. Highlights from the recent release included hole CDH-26-253, which cut across 6.28 metres grading 274 grams of gold per tonne at a depth of 422.0 metres downhole.
Meanwhile CDH-26-243 in the central D Vein region returned 17 metres grading 178 grams of silver per tonne and 0.01 grams of gold from a depth of 435 metres downhole.
This batch of results primarily targeted D Vein, but a subsequent assay from the Lupe/B2 drill holes is expected to follow in the coming days, Kootenay says.
“Systematic drilling of known mineralized structures along D and Lupe trends has identified additional hanging-wall and footwall structures blind to surface, representing new potential exploration targets,” said Roberto Jordan Balbastro, Kootenay's senior geological engineer.
Located about 240 km northwest of the city of Chihuahua, Columba is a high-grade silver project. Prior to Kootenay’s operations, no exploration had occurred at Columba in almost four decades. The company’s ongoing 60,000 metre drill program is focused on expanding its 2025 mineral resource estimate (MRE).
The company’s shares rose 3.45% to $1.20 (US$0.86) apiece Wednesday morning in Toronto.
Gold mineralization
While gold mineralization has appeared intermittently along the veins, Kootenay says this is the first time it’s occurred consistently, with intervals ranging from 0.11 grams per tonne over 5.71 metres to 1.61 grams per tonne over 0.66 metres.
James McDonald, Kootenay's president and CEO, said these results have “substantially advanced” the company’s understanding of the D Vein. “Results continue to demonstrate the scale and complexity of the mineralized system at Columba,” he added.
Expansion drilling continues along the other priority veins, including Lupe/B2, J and La Preciosa.
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