JOHANNESBURG (miningweekly.com) – TSX-V-listed Kootenay Silver has entered into an option agreement to acquire a 100% interest in the Copalito silver/gold project, in Mexico.
The project comprises seven concessions totalling about 3 700 ha.
Under the terms of the agreement, Kootenay can acquire a 100% ownership in the concessions by making staged payments over a four-year period totalling $985 000.
Kootenay believes there is significant potential for the discovery of a high-grade silver/gold vein deposit based on the anomalous values and good vein widths at surface.
“We are very excited about the potential at Copalito. It is a rare opportunity to find a project with such good surface values and vein widths in Mexico that has not been thoroughly drilled. We will be mapping and sampling the veins at surface to identify the best grading areas in the first step towards drill testing,” Kootenay president and CEO James McDonald said on Wednesday.
The Copalito project covers a gold and silver epithermal vein system comprised of numerous veins, with individual veins currently traced over strike lengths up to 2 km. Veins vary in width from 0.5 m to 10 m at surface.