A wholly-owned Mexican subsidiary of Kootenay Silver, Inc. (Kootenay) has entered into an option agreement to acquire a 100% interest in the Columba silver project (Columba) which hosts a past producing, high-grade silver mine, located in the state of Chihuahua (Mexico).
Kootenay President and CEO, James McDonald, stated: “Columba is a very rare opportunity to get into a property with the potential for the discovery of classic high-grade Mexican style vein deposits. These opportunities only arise from the combination of depressed markets for silver and the success of our generative programme to identify prospects. As we have seen in recent months high-grade discoveries have added a lot of value to market cap to a handful of juniors. Based on our sampling and historic reports we believe that Columba has potential for such a discovery. We are very excited to get to work on rapidly advancing the property to drilling hopefully by the first quarter of next year.”
The Columba property covers a large, high-grade silver epithermal system comprised of numerous veins, which the company has mapped over strike lengths from 200 m to up to 2 km. Recent channel sampling on these veins conducted by the company has returned widths of 0.5 - 6 m and carried grades of up to 692 gpt silver. The property has never been systematically explored in modern times.
Mineralisation at Columba is text book low to medium sulfidation epithermal vein hosted, displaying the classic zonation from non or weakly anomalous silver at high elevations that increase with depth into the classic high-grade zones that make them such profitable deposit types.
Read the article online at: https://www.globalminingreview.com/finance-business/20112018/kootenay-silver-enters-option-agreement-to-acquire-columba-silver-project/