Kootenay Silver Inc. [KTN-TSXV, KOOYF-OTC] has announced an updated mineral resource estimate for its 100%-owned La Cigarra project, which is located in the Parral Silver District of Chihauhau State, Mexico.
The latest estimate supersedes a 2015 estimate which as prepared by Northair Silver Corp. before the project was acquired by Kootenay in 2016. La Cigarra is situated in a well established Mexican mineral district and is a key property in Kootenay’s portfolio of advanced silver exploration projects.
According to the latest press release, measured and indicated resources stand at 15.73 million tonnes of grade 102 g/t silver, 0.07 g/t gold, 0.16% lead, and 0.21% zinc, (120 silver equivalent AgEq). The measured resource estimate includes resource of 51.57 million ounces of silver, 33,900 ounces of gold, 54,8 million pounds of lead, and 73.5 million pounds of zinc or 60.56 million ounces of AgEq.
On top of that is an inferred resource of 3.37 million tonnes of grade 102 g/t silver, 0.06 g/t gold, 0.20% lead, and 0.19% zinc (119 AgEq). The inferred estimate includes 11 million ounces of silver, 6,000 ounces of gold, 14.8 million pounds of lead, 13.8 million pounds of zinc for 12.85 million AgEq.
The company said the 2024 estimate incorporates a significantly revised geological model compared to the previous resource and features a database of 201 surface diamond and RC dill holes, totalling 36,988 metres and 26,419 assay intervals.
Kootenay Silver is a Canadian and Mexico-based silver exploration company, actively engaged in the development of several major silver projects in Mexico, including the Columba and La Cigarra projects in Chihuahua, the Promontorio and La Negra silver projects in Sonora, and the Copalito high grade silver project in Sinaloa.
The company also has a large generative portfolio of precious metals exploration projects located in Canada and Mexico.
“The updated resource estimate for La Cigarra is part of our strategy to prepare our three resource projects La Cigarra, Promontorio and La Negra for advancement in a bullish silver market while we remain focused on moving our high-grade silver project, Columba towards a measured resource estimate,’’ said Kootenay President and CEO James McDonald.
Kootenay was in the news last year when it appointed Dale Brittiliffe as its new vice-president, exploration. It said Brittiliffe is an accomplished geologist with over 25 years of experience in precious and base metals deposits in Canada, Mexico and Australia.
Kootenay Silver shares advanced on the news, rising 2.4% or $0.02 to 84 cents. The shares trade in a 52-week range of $1.75 and 60 cents.
