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Re: News Releases - Monday, February 23, 2009
KOOTENAY ANNOUNCES THREE NEW MINERAL DISCOVERIES
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Vancouver, B.C. - Kootenay Gold Inc. TSX.V: KTN ("Kootenay") is pleased
to report three New 100% owned Discoveries, the Opochi a gold-silver
system; and the Espiritu and La Mina which are leached gold-copper
porphyry systems. The properties were identified and staked over the
last 18 months through its Generative prospecting program in the Sierra
Madre Region of Northwest Mexico. Espiritu is subject to an option
agreement as part of the Kondike Silver Grubstake whereby Klondike can
earn 50%.
Jim McDonald, CEO of Kootenay Gold commented, "These New Discoveries
have clearly defined targets and represent projects which hold
potential to become flagship, company building properties. Kootenay's
"Mexican Exploration Pipeline" now includes: Promontorio, Opochi,
Espiritu, La Mina and 11 generative projects in the Sierra Madre Region
of Northwest Mexico".
Opochi
Mineralization is related to the low to intermediate sulphidation
silver-gold class of deposits. It comprises veins, stockworks and
breccias within a 1 x 2 km area. Veins range from few centimeters to
5 meters and include single veins and sheeted parallel veins.
Stockworks across 50 metres have been reported.
The Opochi prospect is noted for its highly anomalous values of gold,
silver, copper, lead, and zinc. Of 124 grab samples taken, 58 gave gold
greater than 0.100 g/t with 18 greater than 1.0 g/t (to 10.47 g/t).
For silver, 47 of 124 samples were greater than 20 g/t, with 34 greater
than 100 g/t and 14 greater than 500 g/t to a high of 1422 g/t. The
area is also highly anomalous in copper, lead and zinc, with mean
values for the 124 samples giving 0.12% Cu, 0.93% Pb and 1.17% Zn.
La Mina
The La Mina prospect is a leach cap porphyry copper prospect marked by
strong to intense stockworks and fractures within an
argillic/sericitic/pyritic alteration setting. The porphyry system
measures some 2000 x 1000 metres elongated to the northeast. Three
styles of mineralization are noted in the La Mina area: leach cap
porphyry system, peripheral polymetallic-precious metal quartz veins
and exotica copper. Relict copper within the leach cap of the porphyry
system gave values from grab samples between 0.002 and 0.3% (20 and
3000 ppm), averaging 0.3% (300 ppm). This compares well with most of
the large, economic copper porphyry systems in northwestern
Mexico-southwestern USA which had leach caps that contained copper
values in the range of 0.001 to 0.01's of percents (10's to 100's of
ppm) copper overlaying secondary enrichment marked by a
copper-chalocite blanket.
Peripheral to the northwest of the porphyry are a suite of quartz
stockworks, veins and veinlets with highly anomalous silver, copper,
gold, lead and zinc. Silver gave values of 432, 422, 288 and 110 g/t
with 13 of the 25 samples greater than 20 g/t. Gold values to 1.0 and
0.845 g/t were noted with 7 of 25 greater than 0.1 pgt. Copper, lead
and zinc are directly correlative with the precious metals and show
values of 5.1%, 5.6% and 12 % respectively. All samples are grab
samples
Exotica, secondary copper mineralization was found flanking the
northwestern part of the alteration zone, some 500 metres northwest of
the La Mina leach cap porphyry. The exotica can be traced for some 800
metres in a northeasterly trend and is open to the northeast. This
copper mineralization is entirely of secondary nature hosted by
strongly bleached tuffs. No sulphides are associated with this
mineralization zone. Of the 12 grab samples taken from this zone, the
average copper grade is 0.76%.
Espiritu
Mineralization and alteration is traceable in a northeasterly trend for
some 4 kilometres and ranges up to 800 metres in width. Two zones of
mineralization are recognized: a copper-gold porphyry setting in the
northeast and a polymetallic silver-lead-zinc vein, stockwork and
breccia setting in the southwest.
The northeastern porphyry is a 1200 x 1000 metre sub-circular area
underlain by altered biotite, feldspar quartz porphyry. Anomalous metal
values in the prophyry include gold, silver, copper, lead and zinc.
Gold shows values to 3.6, 2.39, 1.781, 1.359 and 1.078 g/t with 30 of
the 150 grab samples with values greater than 0.100 g/t. Silver
values include highs of 302, 215, 182, 199, 138, 114, 133 and 145 g/t.
The high gold and silver values may be the stockwork-breccia
superimposed on the copper porphyry. The average copper tenor from
surface grab samples over the whole of the alteration system is 0.27%
(2700 ppm), including background levels. Lead returned values to 9.6%
and zinc to 9.8%. These anomalous metal values are focused in the
central part of the alteration within a northeasterly elongate area
that covers a 1200 x 500 metre zone.
The polymetallic southwestern part zone is represented by veins,
breccias and stockworks with highly anomalous in silver, lead, zinc,
gold and copper. Gold is strongly anomalous with 24 of 110 grab samples
with values greater than 0.1 g/t and highs of 0.844, 0.681, 0.5 and
0.569 g/t. Twenty-nine of the 110 grab samples gave silver greater
than 30 g/t and 12 greater than 100 g/t with highs of 1291, 894, 857,
722, 644 and 543 g/t. Copper values range greatly with 20 of 110 grab
samples taken having values greater than 0.1% (1000 ppm) with values to
1.7%. Lead values of 35 samples greater than 0.1% (1000 ppm) of the
110 samples taken and zinc gave values of 30 samples greater than 0.1%
(1000 ppm), with a maximum noted of 18%. Molybdenum is locally
anomalous with values to 0.12% (1210 ppm) and 7 others in excess of
0.01% (100 ppm).
About Kootenay
Kootenay is an emerging exploration Company actively developing mineral
projects in the Sierra Madre Region of Mexico and in British Columbia,
Canada. The Company's top priority remains the ongoing development of
its Promontorio Silver/Gold Project in Sonora State, northwest Mexico,
which encompasses the former producing Promontorio Silver Mine.
Sampling and Assaying
All samples are bagged in a plastic sample bag which is labeled,
tagged, documented and sealed with wire. Each sample is placed in a
rice sack and sealed with a zip tie. All samples are recorded and
delivered to International Plasma Labs Ltd. ("iPL") sample preparation
lab in Hermosillo, Sonora, Mexico. Receipt of the samples is signed off
at the preparation lab. Pulps of each sample are then prepared and sent
to iPL Laboratories in Richmond B.C. Canada an ISO 9001-2000 certified
full service laboratory. All of the samples referred to herein are core
samples. A QA/QC program which includes the regular insertion by the
Company of duplicates, blanks and standards has been instituted. iPL
Laboratories also has its own system of replicate analysis and blanks
which it provides to the Company. Each pulp is analyzed using iPL's
AU(FA/AAS) Ag/Ore-Grade by Multi acid digestion ICP (Cu/Pb/Zn/Ag) assay
package. This is a multi acid digestion with gold analyzed with an AA
finish with over limits done with gravimetric finish and silver
analyzed by ICP (inductively coupled plasma) and a gravimetric finish
on over limits while zinc was analyzed by ICP and lead by fire assay.
The foregoing geological disclosure has been reviewed and verified by
Kootenay's CEO, James McDonald, P.Geo, (a qualified person for the
purpose of National Instrument 43-101, Standards of Disclosure for
Mineral Projects).
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For additional information, please contact:
James McDonald, CEO and President at 403-238-6986
or
Ken Berry, Chairman at 604-601-5652; 1-888-601-5650
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.
2009 number 4
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Copyright (c) 2009 KOOTENAY GOLD INC. (KTN) All rights reserved. For
more information visit our website at http://www.kootenaygold.ca/ or
send mailto:info@kootenaygold.ca
Message sent on Mon Feb 23, 2009 at 6:40:05 AM Pacific Time
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