Kootenay Silver Inc. announced that through the company’s wholly owned Mexican subsidiary has entered into an option agreement to acquire a 100 percent interest in the Copalito silver-gold project.
Kootenay Silver Inc. (TSXV:KTN) announced that through the company’s wholly owned Mexican subsidiary has entered into an option agreement to acquire a 100 percent interest in the Copalito silver-gold project located in the State of Sinaloa, Mexico.
As quoted in the press release:
The Copalito project covers a gold and silver epithermal vein system comprised of numerous veins, with individual veins currently traced over strike lengths up to 2 kilometres. Veins vary in width from 0.5 to 10 meters at surface and grade from background to highs of 7.2 gpt gold and 1,620 gpt silver in grab samples. The highest chip samples graded 573 gpt silver and 2.1 gpt gold over widths of 1 meter.
There are numerous small to medium sized old workings within the Copalito project area; however, there is no evidence of any modern-day exploration.
The company’s management believes there is significant potential for the discovery of a high grade silver-gold vein deposit based on the anomalous values and good vein widths at surface. Vein textures are indicative of a classic low or intermediate sulfidation vein system.
The Copalito project is located about 35 km east of McEwen Mining’s “El Gallo mine” complex along the western fringes of the Sierra Madre occidental in northwestern Mexico with good access, topography and infrastructure. The project lies within a prospective northeast trending transform geological belt approximately 350 kilometres in length that includes the districts and projects of Parral, Santa Barbara, Dolores, Guanacevi, La Pitarilla and Palmarejo.
James McDonald, president and CEO, commented:
We are very excited about the potential at Copalito. It is a rare opportunity to find a project with such good surface values and vein widths in Mexico that has not been thoroughly drilled. We will be mapping and sampling the veins at surface to identify the best grading areas in the first step towards drill testing.