Vancouver, British Columbia--(Newsfile Corp. - April 29, 2021) - Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) (the "Company" or "Kuya") is pleased to announce that it has commenced an initial drill program at its 100%-owned Kerr Project, which is part of the Company's larger Silver Kings Project. Kuya has planned to drill at least 2,500 metres in this initial program that is expected to commence shortly.
Kuya's focus for the initial drill program is in the vicinity of the Drummond, Kerr Lake, Crown Reserve and Silver Leaf mines. The four contiguous mines are recorded to have produced more than 52 million ounces of silver, with the vast majority of the production predating 1920, and was generally mined up to 100 metres from surface. Some of the high priority targets in the first program include: a potential new zone that may represent a northward extension of the Drummond Mine, where 2018 drill-hole FCC-18-0093* intersected 2.2 metres of 515 g/t silver and 0.61% cobalt (including 0.7 metres of 1,460 g/t silver and 1.81% cobalt) from 172.1 m; and the Silver Leaf mine area, where 2018 drill-hole FCC-18-0174 intersected 2.5 metres of 1,441 g/t silver and 0.28% cobalt from 66.0 metres. There is a significant concentration of underground workings known above this latter zone, yet it appears to be open at depth. (*Note: Individual assays were capped at 1500 g/t silver in hole FCC-18-0093)
The Company's President and CEO, Mr. David Stein stated, "We are very excited to start Kuya's second diamond drill program in 2021. Since closing the acquisition of the Kerr Project in March, we have been reviewing a vast amount of historical exploration work and other geological data. Even though the Kerr Lake, Crown Reserve, Drummond and Silver Leaf mines have been heavily worked, we have found little evidence of much activity below 100 metres and see tremendous potential to extend known mineralization at depth and discover new silver veins. In its peak year, 1909, this group of four mines alone produced more than 7 million ounces from multi-percent silver ore, so today with better exploration, mining and processing methods, we see a huge opportunity to unlock value in Canada's richest silver camp."
National Instrument 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Mr. David Lewis, P.Geo., Exploration Manager of Kuya and a Qualified Person as defined by National Instrument 43-101.
About Kuya Silver Corporation
Kuya is a Canadian‐based silver‐focused mining company that owns the Bethania Project, which includes the Bethania mine, located in Central Peru. The Bethania mine was in production until 2016, toll‐milling its ore at various other concentrate plants in the region, the Company's plan is to implement an expansion and construct a concentrate plant at site before restarting operations. The Bethania mine produced silver‐lead and zinc concentrates from the run of mine material, until being placed on care and maintenance due to market conditions and lack of working capital.
For more information, please contact the Company at:
Kuya Silver Corporation
Telephone: (604) 398‐4493
This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
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