Kootenay Silver (TSXV: KTN) has seen its ounces in the ground remain nearly flat after conducting an updated resource estimate for its La Cigarra Project in Chihuahua State, Mexico.
The resource estimate, which was conducted to update an estimate last conducted in 2015, has seen the measured and indicated grade increase from 86 g/t silver to that of 102 g/t silver, however tonnage has decreased by nearly 3.0 million tonnes. Within the inferred category, grade increased similarly, from 80 g/t to 102 g/t, while tonnage also decreased.
Silver ounces improved marginally, growing from 51.47 million ounces on a measured and indicated basis, to that of 51.56 million ounces, however many of those ounces moved from the measured category to the indicated category.
Gold ounces meanwhile declined from 42,000 to that of 33,900, while zinc declined from 74.77 million pounds to 73.5 million pounds. Lead, similar to silver, increased marginally from 53.87 million pounds to 54.8 million pounds.
One notable aspect however is that the cut-off grade for the resource estimate was increased from 35 g/t silver to that of 50 g/t silver, a notable improvement.
The revised estimate is based on 201 drill holes conducted across 36,988 metres in aggregate. The estimate is said to have been revised as part of a strategy to prepare three silver projects for advancement in a bullish silver market.
Kootenay Silver last traded at $0.82 on the TSX Venture.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
