Kootenay Receives Drill Assays as High as 262.4 Grams Per Tonne Silver & 1.1 % Lead/Zinc over 13.5 Meters; Including 819 g/t Silver & 2.57% Lead/Zinc Over 3 m at PromontorioBy Kootenay Gold Inc., PRNE
Monday, November 29, 2010
Shares Outstanding: 37,276,600
VANCOUVER, Canada, November 30, 2010 - Kootenay Gold Inc. (TSX VENTURE: KTN.V) is pleased to announce assay
results from the holes PC 003 & PC 004 as part of a 10,000 meter,
multi-phase drilling program underway (see enclosed Map -
www.kootenaygold.ca/s/AdvancedExploration.asp) on its Promontorio
Silver Project in Sonora, Mexico.
Highlights Include: Hole PC 003: - Expands mineralization southward 50+ meters from 43-101 Pit Resource - 12 meters of 80.38 g/t Ag, 2.36% Pb+Zn at the top of an 82 meter intercept - 82 meter intercept of 34.45 g/t Ag and 1.1% Pb+Zn with 10.5 meters of 56.86 g/t Ag and 2.3% Pb+Zn near the bottom of the interval with the hole ending in mineralization. - Second interval of 38.55 g/t Ag and 0.37% Pb+Zn over 16.5 meters higher in hole Hole PC 004: - Expands mineralization southward up to 100 meters from 43-101 Pit Resource - Shallow intercept of 262.4 g/t Ag and 1.1 % Pb+Zn over 13.5 meters including 819 g/t Ag and 2.57% Pb+Zn over 3 meters. - Interval is extension of High grade zone in Zone 1 of Pit Resource extending it about 40 meters to southwest increasing strike extent by 65% - Deeper intercept possible extension of Pit Resource graded 31.6 g/t Ag and 1.82% Pb+Zn over 7.5 meters within 15 meters of 25.6 g/t Ag and 1.08% Pb + Zn. - Hole bottomed in mineralization.
States Kootenay President and CEO James McDonald, "We are pleased and
excited with results from holes PC 003 and 004 of our Promontorio drill
program. We continue to encounter widespread silver/lead/zinc mineralization
that includes multiple, high-grade intercepts. As the current drill program
continues, we have now established mineralization extending 50 to 100 meters
outside the current 43-101 resource including the high grade in PC 004".
This 10,000-meter Drill Phase is part of a strategic program to
substantially expand the known 43-101 mineral resource at Promontorio. The
first four holes have been drilled along a single fence across the western
side of the Pit Zone. This fence of holes is testing from 200 meters outside
of the resource drilling into it on its western most edge to further
delineate the mineralized contacts and expand the known mineralized area to
AGP Mining Consultants 43-101 Highlights of Promontorio Pit Resource
include (See Aug 18, 2010 Release):
Contained Silver 8,900,000 oz Indicated and 1,170,000 oz Inferred Contained Lead 99,300,000 lbs. Indicated and 13,400,000 lbs. Inferred Contained Zinc 110,800,000 lbs. Indicated and 14,300,000 lbs. Inferred
* Metal recoveries used for the above calculations: Ag-82%; Pb- 85%;
The 43-101 AGP Mining Consultants Resource Calculation was based on only
27 of 54 drill holes conducted on the project to date. Several extensively
mineralized holes at the time of the report were absent from the resource
calculation based on the spacing of the drill holes.
Kootenay further reports the significant gold component reported to date
has yet to be included in published resource calculations. Additional
metallurgy testing will be conducted on these holes in the near future to
determine the gold's' leachabilty and recovery and extraction methods
Kootenay additionally reports, a second labor shift has been added to
further accelerate drilling production and development on Promontorio.
All holes were drilled using reverse circulation. Samples were split
using riffle or rotory splitters to make representative composites. All
samples are over 1.5 meter intervals. All mineralized intercepts are drill
hole length drilled across a vertically inclined breccias system at 60
degree angles. Quality Assurance and Quality Control procedures are posted
on the Kootenay Gold website.
The foregoing geological disclosure has also 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.
Kootenay is actively developing mineral projects in the Sierra Madre
Region of Mexico and in British Columbia, Canada. The Company flagship
property is the former producing Promontorio Silver Mine in Sonora State,
Mexico (see enclosed Map -
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
For further information:
James McDonald, CEO and President at +1-403-238-6986
Ken Berry, Chairman at +1-604-601-5652; +1-888-601-5650
For further information: James McDonald, CEO and President at +1-403-238-6986; Ken Berry, Chairman at +1-604-601-5652; 1-888-601-5650
Tags: canada, Kootenay Gold Inc., November 30, Vancouver