Kootenay Silver is all set to acquire 100% of the Columba silver project, a past producing silver mine located in the Mexican state Chihuahua.
In this regard, the company’s wholly-owned Mexican subsidiary has entered into an option agreement to acquire the Columba silver project, where mining took place between 1900 and 1910.
Owing to the Mexican Revolution between 1910 and 1920, work at the silver mine ceased and in modern times there has been no systematic exploration carried out at the deposit.
The Columba silver project covers a large, high-grade silver epithermal system made up of several veins, which have been mapped by Kootenay Silver over strike lengths ranging from 200m to up to 2kms.
The Canadian silver ore company said that its recently conducted channel sampling on the veins had yielded widths of 0.5-6m and carried grades of up to 692 gpt silver.
According to Kootenay Silver, mineralization at Columba silver project is text book low to medium sulfidation epithermal vein hosted, showing the classic zonation from non or weakly anomalous silver at high elevations.
Kootenay Silver president and CEO James McDonald said: “Columba is a very rare opportunity to get into a property with the potential for the discovery of classic high-grade Mexican style vein deposits.
“These opportunities only arise from the combination of depressed markets for silver and the success of our generative program to identify prospects. As we have seen in recent months high-grade discoveries have added a lot of value to market cap to a handful of juniors. Based on our sampling and historic reports we believe that Columba has potential for such a discovery.”
Last month, Kootenay Silver acquired the Mecatona Property by staking of 2,857 hectares in the Parral Silver Mining District in the Chihuahua State, Mexico. The Mecatona Property is located south of Parral and southeast of the Kootenay Silver’s La Cigarra Project.
Headquartered in Vancouver, Kootenay Silver is an exploration company focused in the discovery and development of mineral projects located in the Sierra Madre Region of Mexico and in the Canadian province British Columbia.