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News Releases
| | December 19, 2006
PROMONTORIO - Kootenay Receives Technical Report on Promontorio Property
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| | Kootenay Gold Inc. (KTN-TSX.V) and Minera JM, S.A. de C.V. ("Minera JM"), a wholly owned subsidiary of Kootenay, (collectively, "Kootenay") announce that a 43 101 Technical Report has been received for the recently acquired Promontorio property (See news release dated December 4, 2006) The report is authored by Guy Mac Gillivray, P. Geo. a Qualified Person as defined in National Instrument 43-101. Promontorio covers approximately 37,000 hectares, and is located in the historic silver and gold producing Sierra Madre Region of Northwest Mexico.
Technical Summary
The Promontorio property is accessible by road from Ciudad Obregon, a major city located 75 km to the Southwest which has an international airport. Located just 1.5 km east of the mine site is a large level area which was formerly used as an airstrip and would be relatively in expensive to reactivate.
The 43 101 Technical Report will be filed and available on SEDAR.
• The claims cover approximately 37,000 hectares
• The Promontorio system appears to represent an intermediate sulphidation epithermal system developed close to a shallow level porphyry system.
• Four main types of mineralization are found in and around the property; epithermal gold silver veins, fissure filling veins with gold and silver; copper porphyry and breccia controlled silver -- lead-zinc mineralization.
• Mineralization on the property is focused along a northwest structural trend within sheared to brecciated andesites with heavily disseminated to semi massive pyrite, sphalerite and galena. The sulfide zones are enriched in silver and gold.
• Opportunities of outlining extensive zones of brecciated andesite containg lead, zinc, copper, silver and gold are considered excellent.
• Historic exploration and development dates back to the early 1900's.
• In the 1920's an exploration inclined shaft was established to 500 feet with 4 levels developed and 10,884 metric tonnes extracted from exploration work. No production was recorded.
• During 1958 to 1964 a small open cut was established in a failed production attempt.
• Between 1988 and 1990 a small 200 ton per day mill was established and approximately 48,000 tons of ore was taken from a small open pit before closing due to low metal prices and high interest rates.
• Ten holes in 1631 meters of drilling were conducted in 1997 and 1998. Only two of these holes were drilled into the mineralized breccia.
• A two stage 1.5 million Canadian dollar program of exploration is recommended.
Kootenay Gold plans to proceed with the first stage of exploration designed to begin evaluating and prioritizing the different hyrothermal and breccia systems. Specific work will include detailed geologic mapping, rock sampling, airborne geophysics, grid establishment, trenching and a drill program to confirm the grades and widths reported in the historic resource calculation.
Technical information contained in this release has been reviewed by James McDonald, P.Geo., Director and CEO of Exploration for Kootenay, a Qualified Person as defined in National Instrument 43-101. About Kootenay. Kootenay is an emerging gold and silver company focused on acquiring 100% interests in mineral properties through acquisitions and exploration discoveries. During the past four years Kootenay has successfully made four new mineral discoveries in the Rossland Republic Gold Trend of British Columbia known as the JJ North, JJ South, Connor Creek and the Sunrise Properties. In addition to its mineral discoveries, the company acquired the Santa Lucia and the Sabina Property in Northwest Mexico. Joint-venture agreements with several companies have actively advanced these projects, as the company continues to expand its operations within Mexico and acquire projects with the potential for large-scale discoveries.
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For additional information, please contact:
James McDonald, CEO at 403-238-6986
Ken Berry, President at 604-683-2214; 1-888-268-8688
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. 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.
2006 Number 0100 |
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| | You can view the Next News Releases item: Mon Jan 15, 2007, <html><FONT COLOR="0066CC"><b>FINANCING - </b></font></html>Kootenay Closes $2million Financing
You can view the Previous News Releases item: Thu Dec 14, 2006, <html><FONT COLOR="0066CC"><b>JOINT VENTURE - </b></font></html> Kootenay Gold Inc.: Reports 7 Metres of 31.19 g/t (0.91 oz/t)
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