Kootenay Silver Provide Updates and Guidance For 2017, Shares Up on News

Kootenay Silver Provide Updates and Guidance For 2017, Shares Up on News

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, February 23, 2017

After a considerable downturn over the last few years, miners finally got some reprieve in early 2016 with their first solid yearly gain as a sector, even when counting a strong pullback in the second half of the year. 2017 is off to a similar start as in 2016 as commodities continue to perk higher. With that backdrop, companies such as Kootenay Silver Inc. (TSX-Venture:KTN) may continue to perform well owing to their interests in diversified metals including gold and silver. Kootenay Silver is looking to keep its upward momentum going as it announced this morning its strategic objectives for 2017 as well as an update on its current projects. According to the press release, Kootenay Silver will focus on enhancing its resource size this year. It also aims at carrying out projects for establishing the scope and economic viability of two of its established silver assets in Mexico. This development is highly important for the company as it will help Kootenay Silver in setting up additional revenue streams. It also plans to carry out similar work at its Canada properties as well.


The company will also boost its collaboration with Pan American Silver Corp. as both firms work on the La Negra silver discovery in Sonora State. Work on that project is expected to start during the second quarter of the year. The Company had recently announced recovering a series of high-grade silver intercepts from the latest 13 holes of a multi-phase drill program conducted at the site.

Kootenay Silver will also continue to work on its La Cigarra silver deposit within the Prolific Silver Mining District of Parral, located in Chihuahua State. Plans include prioritizing 11 Peripheral Target Areas for Drill Testing and carrying out advanced Leach Testing using the standard and SILVOX process. The latter task will aid in assessing potential to lower Capex and operational costs. Kootenay Silver plans to initiate drilling at La Cigarra by the end of this year.

During the past year, the company carried out preliminary metallurgical testing using its proprietary SILVOX process. Increases in metal recovery from these sites will help the company boost its financial position.

The company’s La Cigarra currently hosts a resource estimate of 18.54 million tons containing 51.47 million ounces of silver in the Measured & Indicated categories grading 86.3 gpt silver and 4.45 million tons containing 11.46 million ounces of silver in the Inferred category grading 80 gpt silver.

Shares of KTN show fundamental promise on the basis of its future plans. The stock has gained over 26 percent in the past 12 months, however shares are currently almost 50 percent off their 52-week high of $0.60.

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