Drill Core

Drill Core

Kootenay Gold (tsxv: Ktn) Keeps the Drills (and Heads) Turning

This year, the summer doldrums in the resource sector were anything but dull for the boys at Kootenay Gold (TSXV: KTN). With drills turning at Jumping Josephine (BC), Promontorio (Mexico) and Connor Creek (BC), autumn is proving to be a harvest season of results and new announcements by the company and its various JV partners.

Most notable was the announcement regarding Jumping Josephine (JJ), a joint venture effort with Astral Mining (TSXV: AST). With most Phase I drill results already in from JJ, the central question on most investors’ minds was: Would the work completed to date warrant a Phase II drill program?

Jumping Josephine is an 11,665 hectare gold property in southern British Columbia. The property hosts the historic Granville Mountain mining camp and several newly discovered vein-hosted gold showings, including JJ Main, JJ West, Albion-Dubrovnik and Bonanza Pass. Previous work on the property by a number of other exploration companies turned up assays of interest, but it was not until Kootenay’s early exploration work uncovered the JJ Main and West, Albion-Dubrovnik and Bonanza Pass targets that serious exploration work took place.

The Phase I drill program comprised 2000 meters on three targets: twenty holes at the JJ Main Zone, 400 meters in five holes on the Albion and Dubrovnik targets and a further 500 meters in two holes at the Bonanza Pass. Final results were reported on September 11, along with the exciting news that exploration would indeed continue at JJ in a minimum 3500 meter (approximately 12,000 ft) Phase II drill program.

Phase I work on the JJ Main showing during 2006 revealed a gold bearing stockwork zone up to 10m in width and 240m long. This area yielded assays up to 133.91 g/t gold from one-meter channel samples. Notably, there was a consistent return of high-grade intervals, too, including 5m grading 19.2 g/t Au, 7m grading 31.19 g/t Au, 4m grading 25.24 g/t Au and 10m grading 5.0 g/t Au, and so on. The JJ Main zone is characterized by silicified and sericitized quartz monzonite hosting a distinct zone of multiphase stockwork veining and breccia zones. Mapping and geochemistry completed to date suggest that this structure may extend for over three kilometers.

The most recent results returned from JJ Main were variable. Hole 07JD016 included 10 meters (32.8 ft) averaging 1.17 grams per tonne gold from hole 07JD016, with one meter at 4.14 grams per tonne gold. Although all holes were mineralized, some drill cores were sent to another independent laboratory for a second opinion. Nevertheless, the results at Jumping Josephine did warrant a Phase II program, to begin this fall, which will target what Kootenay and Astral believe is a strong south-plunging mineralized shoot within the JJ Main gold zone.

According to a recent news brief, “The shoot has been intersected to date by holes drilled on the southernmost two sections, spaced 60 meters apart, and so far it appears to be increasing in width to the south. The drill is currently completing a fence of holes along a section 30 meters further to the south. Astral has only just begun to test the potential of JJ Main structure which, based on mapping, geophysics and surface geochemistry, may extend for over three kilometers.”

Kootenay appears to be proving its acumen for choosing properties with potential for early stage discoveries that increase shareholder value. The JJ Main, JJ West, Albion-Dubrovnik and Bonanza Pass targets at Jumping Josephine were all discovered by Kootenay after the company purchased the property. Between September and December 2006, Kootenay four times reported notable sampling and trenching results at JJ, including 21.43 g/t Au over five meters. Consequently, the company’s stock steadily increased from about $0.56 to $0.66. Finally, on the news of 7.0 m of 31.19 g/t Au, the stock jumped to over $1.

The case at Kootenay’s Promontorio Silver Project, which consists of four contiguous claims covering 37,000 hectares in northwestern Mexico, may prove to be even more providential. Chip sampling in the Pit Breccia returned 480 grams per tonne silver, 2.51 grams per tonne gold, 11,199-ppm lead and 17,284-ppm zinc over a true width of 19 meters. These findings lead to the presently ongoing 3000-meter drill program, of which 13 holes are complete and have been sent for laboratory testing. Results are imminent, but what can we expect from this previously producing mine camp?

The only feasibility study completed for Promontorio was prepared in 1973, prior to Canadian Securities Commission’s NI-43-101, which regulates disclosure by Canadian exploration companies listed on the TSX Venture – in other words, it doesn’t necessarily stand up to post-Bre-X standards. That said, no one is claiming Promontorio to be the next world-class polymetallic mine. The original ore reserve estimate was fairly modest: 384,000 metric tons grading 0.12% Cu, 2.80% Pb, 1.74%, Zn, 367 g/t Ag and 1.5 g/t Au, to a depth of 100 m below the floor of the open cut. Certainly with those grades at such a shallow depth, such a reserve estimate would indicate an economically viable mine. Yet the shallow, open-at-depth nature of this potential ore deposit argues for a substantial exploration program to both confirm and expand up the historical work. As such, the present 3000-meter drill program could make (or break) Promontorio as a major participant in the Mexican resource sector.

Maybe it’s the clairvoyant vision of director Richard Hughes (widely seen as the Canadian mining icon partly responsible for bringing Hemlo to production) or the mine-finding prowess of CEO James McDonald who co-founded multiple successful mining companies, but each of the stories behind this growing company (19 million shares outstanding) is beginning to take form. Keep a close eye out for more results this fall.

This article is intended for information purposes only, and is not a recommendation to buy or sell the equities of any company mentioned herein. It is based on sources believed to be reliable, but no warranty as to accuracy is expressed or implied. The opinions expressed in the article are those of the author except where statements are attributed to individuals other than the author, in which case the opinions are those of the individual to whom they are attributed.

About the Author

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Inland 2-1/2 Core Drill Bit $149.95 2-1/2 (64 mm) Core Drill Bit. Inland diamond coated core drills come in numerous diameters and are indispensable for drilling holes in a wide range of materials. Key Features 3/8 (10 mm) shaft fits most hand drills and drill presses. Use on glass, ceramic tile, porcelain, stone, marble, plastics and fiberglass. Ejection port to easily remove stuck plugs if they occur. Product Uses Make holes in clock faces for clock works. Drill holes for drains in ceramic tile and stone work installations. Drill holes for plumbing lines and fixtures in ceramic tile and stone work installations. Create small holes for hanging. Make holes for eyes in glass projects. Make axle holes for kaleidoscope image wheels. Make holes for hanging jewelry. Drill in composite counter tops for plumbing fixtures. Drill in fiberglass boats for accessory and fixture installations. Cut out for outlets on mirrored walls. Cut holes for hardware on glass doors. Image shown of Core Drill Bit Group courtesy of Inland.

Inland 1/8 Core Drill Bit $25.95 Rugged diamond coated core drill bits feature a standard 3/8 diameter shaft to fit most drills and drill presses. It also features an ejection port to easily remove stuck plugs if they occur. This 1/8 diameter bit has many uses including drilling hanging holes in projects, creating pilot holes for making inside cuts with ring saws, or drilling holes in ceramic tile for custom mosaic installations. Use it on glass, ceramic tile, porcelain, stone, marble, plastics, fiberglass and more. Image shown below of Core Drill Bit Group courtesy of Inland.

Inland 3/16 Core Drill Bit $26.95 Rugged diamond coated core drill bits feature a standard 3/8 diameter shaft to fit most drills and drill presses. It also features an ejection port to easily remove stuck plugs if they occur. This 3/16 diameter bit has many uses including drilling hanging holes in projects, creating pilot holes for making inside cuts with ring saws, or drilling holes in ceramic tile for custom mosaic installations. Use it on glass, ceramic tile, porcelain, stone, marble, plastics, fiberglass and more. Image shown below of Core Drill Bit Group courtesy of Inland.

Inland 1/4 Core Drill Bit $27.95 Rugged diamond coated core drill bits feature a standard 3/8 diameter shaft to fit most drills and drill presses. It also features an ejection port to easily remove stuck plugs if they occur. This 1/4 diameter bit has many uses including drilling hanging holes in projects, creating pilot holes for making inside cuts with ring saws, or drilling holes in ceramic tile for custom mosaic installations. Use it on glass, ceramic tile, porcelain, stone, marble, plastics, fiberglass and more. Image shown below of Core Drill Bit Group courtesy of Inland.

Inland 3/8 Core Drill Bit $29.95 Rugged diamond coated core drill bits feature a standard 3/8 diameter shaft to fit most drills and drill presses. It also features an ejection port to easily remove stuck plugs if they occur. This 3/8 diameter bit has many uses including drilling hanging holes in projects, creating pilot holes for making inside cuts with ring saws, or drilling holes in ceramic tile for custom mosaic installations. Use it on glass, ceramic tile, porcelain, stone, marble, plastics, fiberglass and more. Image shown below of Core Drill Bit Group courtesy of Inland.

3/8 Diamond Tech Core Drill Bit $30.95 Unlike standard drill bits that simply put a hole in the glass, core bits actually remove a complete circle from the glass. Size 3/8. Works with a standard electric drill and only needs water as a lubricant.

1/2 Diamond Tech Core Drill Bit $30.95 Unlike standard drill bits that simply put a hole in the glass, core bits actually remove a complete circle from the glass. Size 1/2. Works with a standard electric drill and only needs water as a lubricant.

1/8 Diamond Tech Core Drill Bit $24.95 Unlike standard drill bits that simply put a hole in the glass, core bits actually remove a complete circle from the glass. Size 1/8. Works with a standard electric drill and only needs water as a lubricant.

1/4 Diamond Tech Core Drill Bit $24.95 Unlike standard drill bits that simply put a hole in the glass, core bits actually remove a complete circle from the glass. Size 1/4. Works with a standard electric drill and only needs water as a lubricant.

Twofers Diamond Core Drill Bits - 1/8 $14.95 Two Bits for the Price of One. Aanraku brings you Twofers - superior quality, low-cost grinder and drill bits. Drill holes in your glass with this core drill bit. Great for jewelry making. Fits most electric drills. Coarse 100 diamond mesh grit for quick results.

The Core $76.47 High Quality Content by WIKIPEDIA articles The Core is a 2003 American disaster film loosely based on the novel Core by Paul Preuss. It concerns a team that has to drill to the center of the Earth and set off a series of nuclear explosions in order to restart the rotation of Earths core. The film was directed by Jon Amiel, and starred Aaron Eckhart, Delroy Lindo, Tchky Karyo, Hilary Swank, DJ Qualls, Bruce Greenwood, and Stanley Tucci. Several worldwide events, such as pigeons losing their ability to navigate in Trafalgar Square, and the computers on the Space Shuttle Endeavour sending it far off course and forcing the pilots to land in the Los Angeles River basin, cause leading geology experts Drs. Josh Keyes (Aaron Eckhart), Serge Leveque (Tchky Karyo), and Conrad Zimsky (Stanley Tucci) to surmise that that rotation of Earths molten core is slowing down, leading eventually to the collapse of the electromagnetic field which will expose the surface to the Suns lethal radiation. The three develop a topsecret plan with the United States government to bore into the Earths core and plant a series of nuclear charges at precise points to restart the cores motion and restore the field. Author: Surhone, Lambert M./ Timpledon, Miriam T./ Marseken, Susan F. Binding Type: Paperback Number of Pages: 104 Publication Date: 2010/05/19 Language: English Dimensions: 5.98 x 9.01 x 0.24 inches