Impact: Very Positive
Kootenay Silver reported assays from 11 holes, completed as part of the ongoing 17-hole (5,153m) drill program targeting the D-Vein at its Columba Ag project in Mexico. The current batch of results represents step-out drilling along the D-Vein and includes the longest zone of consistent Ag mineralization yet found on the project. The highlight intercept was 211 g/t Ag over 98.7m including 350 g/t Ag over 38m and 531 g/t Ag over 11m (CDH-24-164) – a 400m step out from a hole drilled in May that returned 40.5m at 183 g/t Ag (CDH-24-153; read note). The 2024 drill program has extended the D-vein strike length to 1,080m, as compared to 450m before the start of the program. We are impressed with these results as Kootenay has exceeded our base case of an 800m strike length for the D-Vein. We currently model a base case mineral inventory of ~108M oz AgEq, which we believe Kootenay could potentially be on track to meet or exceed in its upcoming maiden MRE for Columba (Q4/24E). We also believe continued positive drill results could potentially help re-rate the stock.
