• Gold: 1,496.96 0.80
  • Silver: 16.94 0.07
  • Euro: 1.108 0.001
  • USDX: 98.351 -0.019
  • Oil: 56.2 0.07

Kootenay Announces $5 Million Investment by Strategic Investor Eric Sprott

James McDonald President and CEO stated “We are very pleased to have the support of Mr. Eric Sprott as a major investor in Kootenay.Having Mr. Sprott make a significant investment in the Company is a strong endorsement of our silver asset base. This financing puts us in a very strong financial position and allows us to move aggressively forward on not just Columba, but our other key assets as well.”

New Pacific Reports Continued Exploration Success at Silver Sand Including Wide Mineralization Intercept of 104.5 metres grading 183 grams per tonne Silver

New Pacific is a Canadian exploration and development company which owns the Silver Sand Project in Potosí Department, Bolivia and the Tagish Lake gold project in Yukon, Canada. New Pacific has Silvercorp Metals Inc. (TSX/NYSE American: SVM) and Pan American Silver Corp. (TSX/NASDAQ: PAAS) as its 28% and 16.8% shareholders.

Silver Seeks to Catch Up With Gold

The best performing metal this week was silver, up 6.40 percent on perhaps a paradigm shift as the investors poured $133 million into silver bullion ETFs on Wednesday, the single biggest inflow in six and a half years. The weekly Bloomberg survey of gold traders and analysts shows that most are bullish on the yellow metal as prices broke through a five-year high and touched $1,453 per ounce on Friday morning. Traders seem to be set on an interest rate cut from the Federal Reserve this month, which is helping gold, even as some better-than-expected economic data was released on Tuesday. Turkey, which often sells its gold, saw its reserves rise by $71 million this week compared to last.

Silver rallies to its highest in over a year, plays ‘catch up’ to gold’s gains

"He said gold and silver investors have not missed much of this rally, though in the short term the rally may be overextended when it comes to some miners. Over the coming months and year, however, Spina believes he sees “one of the best risk/reward [opportunities] in the gold/silver sector since I started buying juniors as a teenager, some 25-[plus] years ago.”

Kootenay to Commence Drilling at Columba Silver Project, Mexico

Kootenay President and CEO, James McDonald stated: "We are excited to test the vein system to confirm the historically reported grades and widths. The first 12 holes of the drill program will be designed to test the F vein where underground development work extended to 200 meter depth and the historic mining occurred."

Kootenay Reports Columba Access Road and Surface Access Agreement Completed

Since acquiring Columba, the Company has undertaken a mapping and surface sampling program with silver grades of up to 693 gpt sampled on surface. This area includes a network of underground workings comprised of 4 shafts and 6 levels of drifts reported to measure over 1,000 meters in length. Historic* mine records indicate grades from these underground workings to range from 600 to 900 gpt silver with highlights of 1,900 gpt silver over 4 meters and 679 gpt silver along 133 meters of vein strike and 1.3 meters of vein width. (Click on this link to view a video that illustrates the historic underground mining data).

New Pacific Reports First Results from 2019 Drill Program at Silver Sand, Bolivia – Continuing intersecting wide silver mineralization near surface including 169 g/t silver over 144.2m

The 2019 drilling program at Silver Sand commenced in late April and is expected continue throughout rest of the year. These first eight holes were part of the infill drilling program to bring drill hole density to approximately 25 metre by 25 metre spacing and to produce a mineral resource estimate in accordance with NI 43-101 at the end of 2019. These holes were approximately oriented at azimuths of 60 degrees and dips of -45 degrees. These first eight infill holes have intercepted significant silver mineralization similar to those reported from the 2018 drilling program, and adequately confirms the continuity of mineralization within the drilled extents.

Bolivian gov’t seeks a new deal with miners, says Minister Navarro

Although the state has ownership of the resource, it grants the company a lengthy concession period during which it can explore, build and operate a mine. In exchange, the company promises to undertake certain investments in stages throughout the project’s life, including rehabilitating the site when the mine closes. Once signed with Comibol, the contract is sent to Congress, where it would be approved as a law and finally promulgated by the president himself, giving the contract considerable legal weight. In January, Navarro signed the first such deal for an exploration project with Vancouver-based New Pacific Metals (TSXV: NUAG; US-OTC: NUPMF). The 45-year contract is due to receive legislative approval by mid-year.

Article Comments

Sponsored Links

Live SilverSeek Map