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Wednesday, 18 September 2013
Kootenay Silver resumes drilling at Promontorio
Kootenay Silver (CVE:KTN) has resumed drilling on its flagship Promontorio silver project in Sonora, Mexico, with two rigs currently operating on site.
The company, in a statement Wednesday, said it will conduct a minimum of 5,000 metres of drilling in the current phase as part of its ongoing 2013 resource expansion campaign.
Core drilling is to target a series of high grade silver intercepts recently found within a new breccia zone of silver mineralization, in between the Pit and the Northeast zones.
The company has said that the new zone falls within the parameters of the project's single optimized Pit model -- as opposed to two smaller pits -- offering potential to add additional ounces to the existing silver resource and boost economics.
In August of last year, the company announced a measured and indicated resource estimate for the project, which was updated with the inclusion of the gold resource potential at Promontorio earlier this year. The current resource stands at 92.4 million ounces of silver equivalent in the measured and indicated category, with another 24.3 million ounces in the inferred resource category.
Since the resource report last year, the precious metals explorer has undertaken an expansive drill program of 30,000 metres, with an updated resource estimate expected when the campaign is finished, sometime in the third quarter.
In June, shares of the silver exploration and development company rose after it released drill results from the new high grade silver zone between the Pit and the Northeast zones, with highlights including 301 grams per tonne (g/t) silver equivalent over 31.7 metres, including 1,046 g/t silver equivalent over 5 metres in hole 186.