Kootenay Silver and Theia Resources Announce Results of Surface Sampling Program at Two Times Fred Property, BC

VANCOUVER, Oct. 5, 2016 /CNW/ – Kootenay Silver (TSXV:KTN) and Theia Resources Ltd. (TSXV: THH) (“Theia”) are pleased to announce new surface sampling which indicates potential for the discovery of high grade gold and silver on the Two Times Fred project located in British Columbia.
A limited follow up sampling of exposures of new epithermal veins along strike of the Saki and Gold Hill veins has returned some very encouraging numbers from grab samples. Sample results grade up to 11.4 gpt gold with 39 gpt silver and 12.7 gpt gold with 139 gpt silver. There were 54 samples collected in total, 40 samples were collected from the veins excluding the high-grade values the average value was 202 ppb gold and 4.2 ppm silver. The highest grades encountered to date indicate that the 3 by 1.4 kilometre epithermal vein system has potential for the discovery of high grade gold and silver. High grade results from 2016 grab samples were returned from sub-cropping quartz veins within a 100 by 50 metre area of argillic and pyritic host rocks located approximately 750 metres north of the area drill tested in 2015.  These new samples may represent the edge of a higher grade shoot within the larger vein system. To view a map follow the link: Two Times Fred sampling and vein system.
Assay results from surface sampling across the entire vein system have returned consistently anomalous values for gold and silver indicating a strong mineralizing system.  Vein textures, petrographic work, and newly discovered exposures interpreted as sinter, indicate that the system is exposed at very high levels.  Based on this interpretation deeper drilling will be required to find high-grade zones within the system. Further exploration this fall will include additional mapping and sampling to further define the vein systems at surface and evaluate underexplored portions of the property.  A drill program is currently being designed to test the system along its 3 kilometre strike.
The Two Times Fred property covers showings discovered by Kootenay in 2011.  Trenching and drilling by Theia and Kootenay in 2014 and 2015 respectively (see January 25, 2016 news release) confirmed that surface gold and silver bearing outcrops of low-sulphidation epithermal quartz were related to a series of steeply dipping vein systems which occur along a 3 kilometre long north-northeast trending inferred graben or half-graben structure that is approximately 1.4 kilometre wide.  Individual veins within the system can be traced for 300 to 500 meters in outcrop and vary in true width from 1 meter to over 30 meters.  Drilling conducted in 2015, focused on the Saki and Gold Hill Veins which were shown to vary from about 7 to 30 metres true width.  Highlights from the drill program included 3.2 gpt gold and 46.48 gpt silver over 1.9 meters and 1.69 gpt gold and 29 gpt silver over 7.6 meters. The longest intercept was 0.37 gpt gold and 7.2 gpt silver over 67 meters.
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