Columba Silver Project

​PROJECT HIGHLIGHTS:

  • Unexplored high-grade vein system with no evidence of any exploration in modern times;
  • Past producing silver mine (~1900-1910); hosts numerous classic epithermal high-grade veins measuring 10+ kilometers of strike over widths of 6+ meters;
  • Historic* mine records indicate grades of 600 to 900 gpt silver;
  • Underground workings include 4 shafts and 6 levels of drifts measuring over 1,000 meters in length (70k to 100k tonne estimated production); historic sampling grades include:
    • 1900 gpt silver over 4 meters
    • 679 gpt silver along 133 meters of vein strike and 1.3 meters of vein width
    • 618 gpt silver along 218 meters of vein strike and 0.9 meters of vein width
  • Kootenay surface samples highlights completed in 2018 and 2019:
    • 330 gpt Ag over 2 meters chip
    • 692 gpt Ag over 0.8 meters chip
    • 360 gpt Ag over 1.8 meters chip
    • 426 gpt Ag over 0.7 meters chip
    • 275 gpt Ag over 3.5 meters chip
    • 182 gpt Ag over 6.6 meters chip
  • Highlights from the Company's drill program include:

    • Hole CDH 19-41 (Twin of CDH-19-008) : 650 gpt silver over 7.45 meters within a wider interval of 159 gpt silver over 39.9 meters intercepting banded quartz vein (F Vein);
    • Hole CDH-19-038: 628 gpt silver over 1.5 meters within a wider interval of 301 gpt silver over 4.63 meters and 175 gpt silver over 10.0 meters in the B Vein. Quartz, quartz-barite veins and veinlet stock work and silicified rhyolite
    • Hole CDH-19-030: 982 gpt silver over 1.9 meters within an intercept of 721 gpt silver over 4 meters and 415 gpt silver over 11.5 meters.This intercept is within a new type of mineralization hosted within silicified breccias in close proximity to a distinct lithologic contact. The overall interval averaged 200 gpt silver over 25.85 meters intercepting quartz veinlets and hydrothermal breccias across the J Vein structure
    • Hole CDH-19-005: 775 gpt silver over 1.15 meters within 2 meters of 518 gpt silver and 230 gpt silver over 4.83 meters. (F Vein)
    • Hole CDH 19-009: 519 gpt silver over 2.90 meters including 1,070 gpt over 0.90 meters in a hanging wall vein and a separate intercept of 50 gpt silver over 10.40 meters followed by a 3.0-meter mined stope or tunnel interpreted as the F Vein.
    • Hole CDH 19-011: 648 gpt silver and 0.64 gpt gold over 1.0 meter within 245 gpt silver over 5.0 meters and 133 gpt silver over 11 meters in the F Vein with two separate footwall veins intercepted: 228 gpt over 1.2 meters and 102 gpt over 1.87 meters.
    • Hole CDH 19-012: 699 gpt over 2.1 meters, 113 gpt silver over 1.35 meters, and 113 gpt silver over 0.6 meters in three separate hanging wall veins and 755 gpt silver and 1.16 gpt gold over 1.75 meters within 476 gpt silver and 0.66 gpt gold over 3.15 meters and 184 gpt silver and 0.21 gpt gold over 11.0 meters in the F Vein.
  • Detailed results of the first 41 reported drill holes can be seen in the table listed on the following link: COLUMBA_DRILL_RESULTS

COLUMBA VIDEO

Click on Video below to view historic underground mining data. Results show grades increase with depth, a pattern common in epithermal vein deposits.

The following two diagrams illustrate zonation: GRADES INCREASE AT DEPTH

OVERVIEW

Columba is a past producing high-grade silver mine, which operated from 1900 until 1910, when work ceased in the region due to the Mexican Revolution. The Property covers a large, high-grade silver epithermal system comprised of numerous veins, which the Company has mapped over strike lengths from 200 meters to up to 2 kilometers.Recent channel sampling on these veins has returned widths of 0.5 to 6 meters and carried grades of up to 692 gpt silver. The Property has never been systematically explored in modern times. Kootenay can acquire a 100% ownership in the concessions by making staged payments over a 4-year period totaling US$3,290,000.Payments are weighted to the back-end of the agreement with an initial payment of US$15,000 and first and second years payments totaling US$75,000 and US$150,000 respectively. Upon earn-in the vendors retain a 2% NSR of which 1% can be purchased by the Company for US$750,000.

BACKGROUND & HISTORICAL DATA

Columba hosts a series of high-grade silver veins on surface as well as extensive underground workings. On surface four (4) old shafts are reported to extend to depths of up to 200 meters and connect to at least six (6) levels of widespread underground drifts covering lengths of up to 1,000 meters. The majority of the work appears to have been done in the early 1900’s and again in the mid 1900’s with an estimated 70,000 to 100,000 tonnes being mined. Historical reports obtained by Kootenay indicate the potential for the discovery of high-grade deposits. For example, historic data from underground workings at a depth of 100 meters include nine (9) individual channel samples taken along a 25-meter length of vein where several high-grade intervals were reported to return silver values from 350 gpt over 1.2 meters to a high of 1,900 gpt over 4 meters (see table below for sample details).

Historic Sampling of Vein at 100-meter Depth

Sample Type Width
(meters)
Silver
(gpt)
Channel 1.80 600
Channel 1.25 350
Channel 1.40 650
Channel 1.50 400
Channel 1.50 600
Channel 2.00 700
Channel 3.00 1,800
Channel 4.00 1,900
Channel 4.00 600

The historic data is from plan maps of sampling across the veins in underground workings and from smelter reports reporting on tonnes and grade of material delivered which are consistent with the historic plan maps. Assays taken by the Company of surface tailings are also consistent with historic numbers.

The Company cautions that a qualified person has not done sufficient work to verify the historical sampling data and has not substantiated any data as it pertains to the Property; therefore, the reader should not rely upon such historical grades. The information is not necessarily indicative of mineralization on the Property and is provided as background and context material for the reader. The Company is treating the historical sampling data as a guideline to determining potential future exploration programs.

EXPLORATION WORK COMPLETED AT THE COLUMBA

To prepare for drilling, Kootenay completed mapping and sampling which resulted in the confirmation of anomalous silver in numerous veins at surface mapped over strike lengths from 200 meters to 2 kilometers. Initial channel sampling by Kootenay returned grades ranging from 1 gpt to a high of 692 gpt silver over widths of 0.5 to 6 meters.

The first holes completed during the the first phase drill program targeted the F vein, which was briefly mined during the 1910 era and again in the late 1950’s to early 1960’s. Initial drilling along the F and I veins was carried out by the Company to verify vein width, grades and location. Results thus far have confirmed good widths of quartz, quartz-calcite vein, vein breccia and stockwork in 17 of 18 holes with some holes hitting unexpected hanging wall veining. To date, Kootenay completed 6,853 meters of drilling over 41 holes. Detailed results for all drill holes can be viewed by clicking the following link: Columba Drill Results.

WORKED PLANNED

In February 2020, the Company commenced a 7,000-meter Phase II core drilling program to follow up on high grade results from the 2019 campaign.