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Additional information
Additional Information
Market: TSX-V
Sector: General Mining - Gold
Epic: KTN
News: Latest news
Web Site: Kootenay Gold
Other Articles: 26-02-201006-01-201016-12-2009

Kootenay Gold

Kootenay Gold Inc. is an exploration and mining Company focused on the exploration and development of its top priority Promontorio Silver/Gold Project situated within the mineral rich Sierra Madre trend of Mexico. Encouraging results from ~20,000 meters of drilling on the Promontorio suggests the possible existence of a large Porphyry system similar to major producing deposits within the region.

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Friday, November 13, 2009

Kootenay Gold in earn-out deal for its Connor Creek property

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Kootenay Gold Inc (TSX-V: KTN) said it has entered into an agreement with Orestone Mining Corp which will allow Orestone to earn 60 percent of the Connor Creek gold property located in British Columbia, Canada, for investing C$1 million and issuing 750,000 company shares to Kootenay over the next four years.

Drilling is about to start on the property, which means the company has three drill programs underway, at the Promontorio silver project in Mexico’s Sonora State, and at the British Columbia properties Rosetta Stone and Connor Creek, with results pending prior year-end.

Kootenay is actively developing mineral projects in the Sierra Madre Region of Mexico and in British Columbia. Top priority remains the development of the Promontorio project which encompasses the former producing Promontorio silver mine.

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 Rosetta Stone property comprises of 26 mineral tenures covering 11,588 hectares which are located near Nakusp in South-eastern BC. 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 percent interest in the Rosetta property to Theia Resources in exchange for exploration expenditure of C$1m over five years and 650,000 shares over a four year period.

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