--News Direct--
Kootenay Silver Inc (TSX-V:KTN) CEO Jim McDonald shares an update on the company's projects with Proactive's Angela Harmantas at PDAC 2024 conferenc.
McDonald told Proactive the company is experiencing positive momentum from the gold and silver markets, contributing to a buoyant atmosphere among stakeholders. He highlighted the progress of the company's flagship project, the Columba project in Mexico, known for its silver deposits. This project, described as a newly discovered vein district, remains largely unexposed to erosion, preserving its original deposits. Over three years, Kootenay Silver has drilled 30,000 metres across 147 holes, with plans to drill an additional 5,000 metres in approximately 24 holes, focusing on the D vein which has shown significant silver intercepts.
The company aims to establish a maiden resource for Columba by the end of 2024, contingent on market conditions and fundraising efforts, estimating a requirement of an additional 20,000 metres of drilling.
Additionally, McDonald discussed the La Cigarra project, also in Mexico, which has recently updated its mineral resource estimate. The revision has increased the measured and indicated grade from 85-86 grammes of silver per tonne to 102 grammes per tonne, without loss of material. This update enhances the project's economic viability, especially with silver prices approaching or exceeding $30, contributing to Kootenay Silver's potential for growth in a bullish silver market.
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