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Market: TSX-V
Sector: General Mining
Epic: KTN
News: Latest news
Web Site: Kootenay Gold Inc
Other Articles: 23-04-201026-03-201008-03-2010

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Thursday September 02, 11:00Baobab Resources identifies distinct ore domain at Tete’s South Zone

Baobab MD Ben James said the latest drilling results from the Tete project's South Zone characterise a distinct, higher mass recovery, ore domain.

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Thursday September 02, 08:15Indonesia edges closer toward uranium mining and nuclear power

After nearly five decades of national debate on the issue, Indonesia's central government may finally be ready to develop a national nuclear policy, which may lead to domestic uranium mining.

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Wednesday September 01, 01:25Green Dragon Gas reports significant growth as China’s thirst for energy continues

China's thirst for energy resources has continued with an increased focus on domestic supplies of gas, Green Dragon Gas chairman Randeep Grewal said today. In the company's interim results, [...]

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Kootenay Gold Inc

Kootenay Gold Inc

Kootenay Gold Inc. is an exploration and mining Company focused on the exploration and development of its top priority Promontorio Silver/Gold Project situated within the mineral rich Sierra Madre trend of Mexico. Encouraging results from ~20,000 meters of drilling on the Promontorio suggests the possible existence of a large Porphyry system similar to major producing deposits within the region.

Wednesday, December 16, 2009

Astral in option deal with Kootenay to take full control of Jumping Josephine project for C$2 mln and 4 mln shares

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Kootenay Gold Inc  (TSX-V: KTN) said it and Astral Mining Corp (TSX-V: AA) have executed an option agreement which gives Astral the right to increase its current 60 percent interest in the  Jumping Josephine property in British Columbia to 100 percent.

Astral can acquire Kootenay’s 40 percent interest in the gold property by spending C$2 million on exploration and issuing 4 million of its shares to Kootenay.

Planning and permitting is now underway for a trenching and diamond drilling program at Jumping Josephine for the spring 2010, as well as the previously announced bulk sampling at the JJ Main zone.

This work will continue to evaluate the two kilometre JJ Main structure, as well as testing a number of other high-priority targets.

Gold was encountered over a strike length of 900 metres and to vertical depths of up to 240 metres below surface and remains open on strike and at depth.

Kootenay also will include a 61.04 square kilometres package of claim blocks contiguous to the North and on strike with the Jumping Josephine property known as the CP/Midas Claims. Should any portion of the JJ or CP/Midas Claims go into commercial production, Astral will pay Kootenay 1 percent net smelter returns (NSR) and will issue to Kootenay an additional 400,000 common shares.

Under the option deal, Kootenay will be able to fill one Astral board position.

Kootenay is actively developing projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. The Promontorio gold-silver project in northwest Mexico remains its priority project, where it is currently undertaking a 5,000 meter step-out drilling program. In Mexico’s Sonora state, the Vancouver headquartered explorer has also described its Espiritu gold-copper project as a potential company maker.  At Espiritu, a drilling programme is currently underway of a minimum 1,000 meters of HQ core, comprising  4 to 6 holes in 4 drill sites 100 to 500 meters apart.

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