Kootenay Gold Inc. (TSX VENTURE:KTN) ("Kootenay") is pleased to announce drill results from holes 26 to 36 at its 100% owned Promontorio Silver Discovery located in Sonora State, Mexico. Dimensions of the Discovery Zone tested to date are approximately 200 meters by 300 meters in plan by 440 meters vertically. Mineralization remains open to the West, North, East and to depth. The mineralized zone tested to date covers approximately 10% of the 3D IP Geophysical target which comprises a large "L" shaped area of chargeability, with one "arm" measuring 1.6 km and the other 900 meters, and with widths ranging from 250 to 600 meters.
Jim McDonald, CEO of Kootenay commented: "We continue to encounter widely disseminated gold-silver and lead-zinc zones at the Promontorio Silver Project. Based on our success we have added a second drill rig. One rig will remain deployed on the Discovery Zone, while the second rig will systematically drill test the IP anomaly to the east (Zone E). Drill hole KP-39 (results pending) is located approximately 1km from the Discovery (Zone N) across the IP Anomaly and is currently at 528 meters in vertical depth and continuing. Multiple anomalous surface samples grading up to 1,082 g/t silver occur between the "Discovery Zone" and the 1 km step out drill hole (see enclosed map, Area E). Kootenay currently has cash in treasury of approximately $20 million providing our exploration team with 2 to 3 years of funds to systematically test a large target area within the IP Anomaly and the numerous new targets identified in recent exploration (see enclosed map and May 14, 2008 news release)".
Highlights of results include:
Hole: KP-26-08
187.80 meters grading 66.97 g/t Ag equivalent and 1.31% combined lead-zinc
Hole: KP-27-08
419.88 meters grading 56.18 g/t Ag equivalent and 1.24% combined lead-zinc
Hole: KP-29-08
268.21 meters grading 52.40g/t Ag equivalent and 1.18% combined lead-zinc
Hole: KP- 30-08
149.08 meters grading 53.44 g/t Ag equivalent and 0.84% combined lead-zinc
Hole: KP-32-08
128.35 meters grading 56.26 g/t Ag equivalent and 0.98% combined lead-zinc
Hole: KP-33-08
99.65 meters grading 87.97 g/t Ag equivalent and 1.66% combined lead-zinc
Hole: KP-35-08
97.40 meters grading 73.32 g/t Ag equivalent and 2.21% combined lead-zinc
Hole: KP-36-08
308.74 meters grading 50.40 g/t Ag equivalent and 1.10% combined lead-zinc
Drill results are summarized in the following table
((i)Denotes previously released drill holes)
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Inter- Pb/
Drill From To val Ag Au AgEq Pb Zn Zn
Hole (m) (m) (m) (g/t) (g/t) (g/t) (%) (%) (%)
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KP-01-07(i) 53.48 57.25 3.77 236.80 0.72 277.40 0.47 0.35 0.81
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KP-02-07(i) 71.15 100.75 29.60 215.60 1.23 285.20 0.94 2.39 3.33
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KP-04-07(i) 110.60 130.57 19.97 18.84 0.49 46.73 0.21 0.19 0.39
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KP-05-07(i) 66.37 81.34 14.97 329.50 1.81 431.50 1.79 2.60 4.39
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KP-06-07(i) 111.58 136.72 25.14 209.40 0.97 264.10 0.89 1.12 2.01
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Incl. 117.87 121.93 4.06 492.70 1.63 584.70 1.49 2.59 4.08
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incl. 130.73 136.72 5.99 462.30 0.93 514.80 2.05 2.58 4.64
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KP-07-07(i) 47.12 62.15 15.03 27.95 0.60 61.62 0.47 0.83 1.29
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KP-07-07(i) 23.64 66.45 42.81 20.85 0.36 41.05 0.27 0.44 0.71
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Incl. 23.64 25.95 2.31 128.90 0.92 181.10 1.13 2.03 3.15
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KP-08-07(i) 0.00 45.15 45.15 23.10 0.58 56.01 0.11 0.28 0.39
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Incl. 17.47 45.15 27.68 36.09 0.87 85.06 0.17 0.32 0.49
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KP-09-07(i) 54.80 87.46 32.66 212.90 2.34 344.90 1.72 2.21 3.93
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Incl. 61.85 68.55 6.70 671.20 3.46 866.40 3.29 4.59 7.88
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Incl. 60.35 80.25 19.90 345.10 3.36 534.80 2.78 3.59 6.37
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KP-10-07(i) 106.10 135.00 28.90 31.32 0.24 45.12 0.28 0.15 0.44
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KP-12-07(i) 127.20 127.74 0.54 158.50 3.83 374.50 2.15 2.95 5.10
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KP-12-07(i) 111.20 115.00 3.80 95.49 1.30 168.50 1.16 1.59 2.75
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KP-12-07(i) 58.61 60.35 1.74 26.53 0.60 60.41 0.72 0.75 1.47
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KP-13-07 49.70 92.23 42.53 8.61 0.47 35.09 0.02 0.02 0.05
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KP-14-07(i) 58.88 62.17 3.29 11.33 0.11 17.71 0.53 0.66 1.20
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KP-15-07(i) 64.20 65.40 1.20 942.10 1.51 1027.00 6.26 6.44 12.70
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KP-15-07(i) 119.91 124.18 4.27 8.47 0.27 23.76 0.46 0.20 0.66
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KP-16-07(i) 10.55 22.23 11.68 17.87 0.15 26.23 0.24 0.27 0.51
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KP-17-07(i) 8.38 188.75 180.37 16.67 0.23 29.63 0.32 0.37 0.70
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Incl. 27.40 38.85 11.45 55.54 1.12 118.70 1.18 1.28 2.46
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Incl. 12.95 75.90 62.95 36.27 0.53 65.89 0.72 0.84 1.57
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KP-18-07(i) 18.75 23.37 4.62 34.61 0.29 51.16 0.55 1.10 1.65
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KP-18-07 14.35 21.95 7.60 22.10 0.98 77.35 0.32 0.63 0.95
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KP-18-07(i) 91.23 96.12 4.89 35.07 0.24 48.74 0.70 0.59 1.29
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KP-18-07(i) 161.12 182.95 21.83 9.62 0.42 33.33 0.09 0.27 0.35
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KP-19-07(i) 8.90 153.00 144.10 36.62 0.17 46.20 0.38 0.46 0.85
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Incl. 126.61 153.00 26.39 134.50 0.24 148.00 1.35 1.53 2.88
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KP-20-07(i) 35.55 381.92 346.37 28.12 0.38 49.75 0.56 0.74 1.30
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Incl. 343.58 348.34 4.76 76.81 2.20 200.90 1.76 3.25 5.01
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Incl. 215.35 302.05 86.70 52.37 0.43 76.83 1.10 1.28 2.38
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Incl. 215.35 381.92 166.57 40.54 0.45 65.66 0.86 1.06 1.92
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Incl. 35.55 83.10 47.55 30.10 0.67 68.04 0.55 0.73 1.28
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KP-21-07 16.80 20.20 3.40 1.13 1.15 66.26 0.02 0.01 0.03
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KP-22-07(i) 44.40 202.05 157.65 48.93 0.51 77.53 0.70 0.95 1.65
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Incl. 190.85 197.93 7.08 212.20 2.58 357.70 3.06 3.60 6.66
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Incl. 71.05 75.95 4.90 49.67 1.71 146.10 0.93 3.09 4.03
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Incl. 152.25 202.05 49.80 95.53 0.95 148.90 1.36 1.76 3.12
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KP-22-07(i) 6.30 26.10 19.80 8.02 0.16 16.92 0.09 0.13 0.22
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KP-23-08(i) 6.55 444.00 437.45 28.20 0.44 53.00 0.53 0.63 1.16
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Incl. 67.45 79.10 11.65 143.50 1.14 207.70 2.82 2.11 4.93
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Incl. 6.55 196.47 189.92 52.30 0.64 88.50 0.97 1.04 2.00
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Incl. 333.65 444.00 110.35 13.93 0.46 40.12 0.27 0.50 0.77
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KP-24-08(i) 3.00 438.00 435.00 13.96 0.20 25.07 0.22 0.28 0.50
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Incl. 131.83 193.64 61.81 55.65 0.76 98.61 0.84 0.98 1.82
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Incl. 338.30 419.40 81.10 9.40 0.10 15.06 0.19 0.37 0.56
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KP-25-08(i) 2.01 388.65 386.64 46.15 0.44 70.79 0.78 0.76 1.54
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Incl. 225.80 233.65 7.85 335.40 2.46 473.90 6.12 4.01 10.13
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Incl. 201.00 298.67 97.67 100.40 0.77 144.00 1.74 1.50 3.24
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Incl. 117.70 388.65 270.95 62.44 0.57 94.41 1.07 1.03 2.10
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KP-26-08 176.60 364.40 187.80 36.94 0.53 66.97 0.65 0.66 1.31
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Incl. 200.75 302.40 101.65 53.00 0.82 99.11 0.92 0.94 1.85
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Incl. 200.75 230.65 29.90 87.11 1.02 144.40 1.48 1.45 2.93
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KP-27-08 0.00 419.88 419.88 31.86 0.43 56.18 0.57 0.67 1.24
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Incl. 11.15 83.85 72.70 52.27 1.06 112.30 0.85 0.97 1.82
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Incl. 15.61 43.33 27.72 76.98 1.24 147.20 1.10 1.18 2.27
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Incl. 109.80 345.95 236.15 34.75 0.36 55.18 0.66 0.74 1.40
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Incl. 200.45 266.35 65.90 61.36 0.78 105.20 1.13 1.20 2.33
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KP-28-08 22.10 33.67 11.57 13.67 0.22 25.92 0.43 0.62 1.05
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KP-28-08 87.61 164.20 76.59 20.75 0.23 33.84 0.36 0.52 0.89
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Incl. 119.94 164.20 44.26 24.78 0.33 43.33 0.44 0.67 1.11
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KP-28-08 195.78 234.50 38.72 22.76 0.58 55.25 0.35 0.53 0.88
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KP-28-08 392.71 416.00 23.29 23.71 0.33 42.21 0.47 1.13 1.59
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KP-29-08 19.13 38.02 18.89 24.33 0.19 35.04 0.51 0.79 1.30
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KP-29-08 166.35 434.56 268.21 28.49 0.42 52.40 0.54 0.65 1.18
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Incl. 166.35 357.40 191.05 34.83 0.50 63.13 0.65 0.72 1.37
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Incl. 288.15 336.50 48.35 36.76 0.99 92.43 0.85 0.94 1.79
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Incl. 323.00 335.00 12.00 84.99 2.77 241.00 1.99 2.02 4.01
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KP- 30-08 70.00 75.00 5.00 21.68 0.11 27.89 0.49 0.60 1.09
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KP- 30-08 123.57 129.76 6.19 16.06 0.22 28.61 0.26 0.45 0.71
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KP- 30-08 202.19 351.27 149.08 31.01 0.40 53.44 0.43 0.41 0.84
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Incl. 277.26 312.40 35.14 50.14 0.65 87.03 0.90 0.76 1.67
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KP- 30-08 381.64 425.10 43.46 25.26 0.25 39.52 0.55 0.73 1.28
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KP-31-08 206.90 219.66 12.76 12.59 0.11 18.70 0.24 0.37 0.60
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KP-31-08 226.00 236.71 10.71 23.62 0.14 31.57 0.45 0.59 1.04
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KP-31-08 275.45 357.90 82.45 16.41 0.19 27.40 0.28 0.30 0.58
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Incl. 275.45 291.23 15.78 34.50 0.52 63.71 0.63 0.68 1.30
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KP-32-08 198.95 327.30 128.35 26.66 0.52 56.26 0.49 0.50 0.98
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Incl. 267.56 327.30 59.74 32.54 0.60 66.60 0.60 0.57 1.17
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KP-32-08 354.70 366.97 12.27 16.89 0.12 23.80 0.35 0.37 0.72
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KP-32-08 407.25 411.08 3.83 21.03 0.36 41.60 0.44 0.56 1.01
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KP-33-08 164.35 295.71 131.36 42.21 0.50 70.30 0.60 0.71 1.31
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KP-33-08 164.35 264.00 99.65 52.84 0.62 87.97 0.77 0.89 1.66
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KP-33-08 310.64 386.20 75.56 37.17 0.45 62.49 0.68 0.68 1.36
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Incl. 323.69 386.20 62.51 40.95 0.50 68.98 0.75 0.71 1.46
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KP-34-08 215.28 284.60 69.32 30.46 0.39 52.66 0.38 0.41 0.79
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KP-35-08 287.60 385.00 97.40 50.79 0.40 73.32 0.97 1.24 2.21
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Incl. 311.74 335.95 24.21 89.81 0.59 122.90 1.94 2.25 4.19
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Incl. 321.90 335.95 14.05 111.60 0.76 154.20 2.51 2.86 5.37
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KP-36-08 88.15 396.89 308.74 30.27 0.36 50.40 0.52 0.58 1.10
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Incl. 208.35 295.80 87.45 41.83 0.49 69.29 0.72 0.89 1.62
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Incl. 259.95 295.80 35.85 60.31 0.59 93.77 1.05 1.25 2.31
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Incl. 332.14 373.98 41.84 32.46 0.59 65.62 0.72 0.71 1.43
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-Weighted averages for intervals including lost or unsampled intervals were
calculated using zero values for the missing intervals.
-Prices used in calculating Ag Eqv.: Au $790/oz, Ag $14/oz,
-If an assay value was below the detectable limit - the grade of the limit
was used in the calculations:
-Au less than 2 ppb equals 2 ppb; Ag less than 0.5 ppm equals 0.5 ppm;
Zn less than 0.01% equals 0.01%; Pb less than 0.01% equals 0.01%
-Grades and equivalency assumes 100% recovery
Note: Maps, cross sections and a complete listing of assay intervals and drill hole coordinates can be viewed on the Kootenay website at www.kootenaygold.ca.
Note: A map is also available at the following link: http://media3.marketwire.com/docs/ktn0722.pdf.
Mineralization continues to occur as pyrite, galena, sphalerite, and possible silver sulfosalts within veins, veinlets, fractures, disseminations and as breccia infilling. In addition to the andesite significant mineralization has now been observed in diorites and sediments.
Drilling
Drilling is all core and has been contracted to BDW International out of Guadalajara Mexico and all core has been HQ sized.
Sampling and Assaying
All core samples are cut by a rock saw with one half being returned to the core box for reference and the other being bagged in a plastic sample bag which is labeled, tagged, documented and sealed with wire. Each sample is placed in a rice sack and sealed with a zip tie. All samples are recorded and delivered to International Plasma Labs Ltd. ("iPL") sample preparation lab in Hermosillo, Sonora, Mexico. Receipt of the samples is signed off at the preparation lab. Pulps of each sample are then prepared and sent to iPL Laboratories in Richmond B.C. Canada an ISO 9001-2000 certified full service laboratory. All of the samples referred to herein are core samples. A QA/QC program which includes the regular insertion by the Company of duplicates, blanks and standards has been instituted. iPL Laboratories also has its own system of replicate analysis and blanks which it provides to the Company. Each pulp is analyzed using iPL's AU(FA/AAS) Ag/Ore-Grade by Multi acid digestion ICP (Cu/Pb/Zn/Ag) assay package. This is a multi acid digestion with gold analyzed with an AA finish with over limits done with gravimetric finish and silver analyzed by ICP (inductively coupled plasma) and a gravimetric finish on over limits while zinc was analyzed by ICP and lead by fire assay.
Certain technical engineering data is also being collected from the core including RQD (Rock Quality Designation), recovery, photographs and specific gravity measurements. Specific gravities of mineralized core are ranging from 2.7 to 3.15 grams per cubic centimeter (tonnes per cubic meter). They have been measured on site and are being sent out for third party confirmation.
The foregoing geological disclosure has 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 the Company.
ABOUT KOOTENAY
Kootenay is an emerging exploration Company actively developing mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. The Company's top priority remains the ongoing development of its Promontorio Silver project in Sonora State, northwest Mexico, which encompasses the former producing Promontorio Silver Mine.
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 statements.
SOURCE: Kootenay Gold Inc.
Kootenay Gold Inc. James McDonald CEO and President (403) 238-6986 Kootenay Gold Inc. Ken Berry Chairman (604) 601-5652 or 1-888-601-5650 Website: www.kootenaygold.ca
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