Kootenay Silver (CVE:KTN) has extended the new high grade zone at its Promontorio silver project in Mexico, the company said Wednesday, as it announced further drill results as part of its ongoing resource expansion program.
Current drilling at the project is focused on a series of high grade silver intercepts, recently found within breccia silver mineralization between the Pit and Northeast Zones, according to a company statement.
Drilling is continuing to show high grades, with the latest holes returning 218 grams per tonne (g/t) of silver equivalent over 45 metres, including 415 g/t over 22 metres. In addition, hole DH189 intersected 152 g/t silver equivalent over 49 metres, including 333 g/t over 12 metres.
"We are extremely pleased with current drill results," said president and CEO James McDonald in the release. "The current drill intercepts are contained within the project's 1.5 km, Single Whittle Pit Shell and show the high-grade breccia zone extending an additional 75 meters down dip to depth in previously untested areas of the Northeast zone."
The company said the holes sit next to, and outside of the inferred resource at the project, and that the extension of this priority zone stands to play a major factor in expanding the resource. Results from another 14 drill holes are still pending, and will be reported when received and compiled, Kootenay added.
In August 2012, the company announced a measured and indicated resource estimate for the project, which was updated with the inclusion of the gold resource potential at Promontorio earlier this year. The current resource stands at 92.4 million ounces of silver equivalent in the measured and indicated category, with another 24.3 million ounces in the inferred resource category.
Since the resource report last year, the precious metals explorer has undertaken an expansive drill program of 30,000 metres, with an updated resource estimate expected when the campaign is finished.