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Kootenay Gold and Theia Resources Commence Drilling At Rosetta Stone Exploration Property In British Columbia

Published: 21:05 15 Oct 2009 AEDT

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Kootenay Gold Inc. (TSX-V: KTN) announce drilling is underway at the Rosetta Stone property. The drill program is a first test on two newly discovered gold showings named the Road and Rosetta Stone showings. The drill program will consist of between 800m and 1200m diamond drill core and is being conducted by Ridgeline Drilling Ltd. of Smithers B.C


Kootenay Gold is an emerging exploration company that is actively developing mineral projects in the Sierra Madre Region of Mexico and in British Columbia, Canada. Its principle development project is the Promontorio Silver project in Sonora State, northwest Mexico which encompasses the former producing Promontorio Silver Mine.


The Rosetta Stone Property comprises of 26 mineral tenures covering 11,588 hectares which are located near Nakusp in South-eastern British Columbia, Canada. The Gold mineralization is associated with silicified breccia, quartz veins and veinlets and open space fillings, which are field characteristics consistent with low sulphidation epithermal deposits.  


The Rosseta Stone project is being undertaken through a joint venture between Kootenay Gold and Theia Resources Ltd (TSX-V: THH). Kootenay Gold has granted an option to earn a 60% interest in the Rosetta property to Theia Resources in exchange for exploration expenditure of $1m over five years and 650,000 shares over a four year period.


The Rosetta Stone showing which is exposed for 40 m of strike over 2 to 4 m wide before disappearing into overburden on both ends. Grab samples from the Rosetta Stone showing, indicate a range of grades up to 21.1 grams per tonne, three of which are above 10 grams per tonne. Across the 29 grab samples at Rossetta Stone, 11 show grading above 1 gram per tonne.


The road showing is 94m long and 4 to 6m wide and can be projected for another 450 meters along strike, grab samples from the Road showing ranged from background to a high of 17.0 grams per tonne gold.


This latest news reflects the ongoing early stage development of Kootenay’s secondary prospects, the Company's top priority remains the ongoing development of its Promontorio Silver project in Sonora State, Mexico. Earlier this month Kootenay commenced its latest drilling programme at its principle Promontorio property.


In Mexico, the drilling program is designed to drill untested targets and expand on the mineralization discovered at the Pit Discovery. The 5,000 meter exploration drilling will step-out across the 2km Dorotea Trend and is expected to be completed by the end of 2009.


The drilling program is focused on target areas identified by the initial systematic exploration methods such as 3D IP Geophysical Survey, EM Airborne Study and the present Trenching and Drilling results.  The targets span across the large silver-lead-zinc-gold mineral system, once the primary targets are complete follow up exploration will provide detail to the strongest mineralized zones.


Additionally Kootenay reported that G&T Metallurgical Services Ltd. of Kamloops, B.C. had been engaged to conduct a preliminary metallurgical assessment. They are mandated to assess 115kg composite sized core from 138m to 197m in the KP22 hole, in the Pit Discovery. The goal is to develop a suitable process to recover lead, zinc, silver and gold contained in the sample. The sample responded well to a standard lead/zinc sequential flotation flow sheet producing concentrates that would be highly saleable in the event a deposit is developed.

Kootenay Gold Audio Interview with Jim McDonald

Jim McDonald of Kootenay Gold discusses the company's business strategy to explore and exploit new mineral discoveries in Mexico.

on 24/2/09