Impact: Positive
Holes at Columba Extend D-Vein Mineralization to the SE – Kootenay announced results from the final two holes from the recently concluded 12-hole (3,053m) drill program at its 100%-owned Columba project in Chihuahua, Mexico. Drilling continues to identify broad zones of mineralized stockwork adjacent to the D Vein, with these two holes extending the known mineralization to the SE and depth from previous holes (read notable, Figures 1 and 2). Highlights include 1) 501 g/t Ag, 0.3% Pb, 0.7% Zn over 10.26m (CDH-23-146) and 2) 532 g/t Ag, 0.2% Pb and 0.7% Zn over 8.19m (CDH-23-147). A further 800m of untested extensions from these holes likely exist before the D-vein intersects the B-Vein. As we stated in our recent initiation report, Kootenay is one of our favourite silver explorers as it offers investors exposure to a highly undervalued portfolio of high-grade advanced exploration projects backstopped by +281M oz of existing AgEq resources. We believe the maiden MRE for Columba, expected in Q3/24, has the potential to delineate a large, high-grade resource to add to this resource base and that further drilling could lead to resource expansion. We estimate a mineral inventory of ~64-108M oz AgEq, with future potential for up to ~196M oz AgEq as the known epithermal veins remain open in all directions and at depth.
