Kuya Silver drills 16,800 g/t silver over 3.04 metres at Silver Kings, Ontario

Kuya Silver Corp. [KUYA-CSE; KUYAF-OTCQB; 6MR1-FSE] reported assay results from the newly discovered, silver-bearing Angus Vein at the Silver Kings property in the Cobalt Mining Camp, northeastern Onatrio. The silver results in the Angus Vein were intersected in the second of two drill holes in the Campbell-Crawford area, which was historically explored but never mined.

Highlights of new discovery: Kuya Silver expedited the assaying of 3.80 metres of visually identified silver mineralization in hole 23-SK-08. Best assay intercept to date was 74,418 g/t (2,393 oz/ton) silver over 0.30 metres (237.50 m to 237.80).

Composite interval was 16,838 g/t silver, 0.08% cobalt over 3.04 metres (235.20 m to 238.24). Logging indicates additional silver/cobalt mineralization in this drill hole.

Seven drill holes (2,334 m) at Campbell-Crawford area intersected up to six silver/cobalt mineralized veins per drill hole (visual and/or pXRF analysis). The company intersected multiple silver/cobalt mineralized veins per drill hole, at a range of depths and with different orientations, suggesting that this is more likely a mineralized vein cluster and not an isolated vein.

The Campbell-Crawford discovery is located approximately 1 km north of the North Drummond area and 750 metres southeast of a 1,300 oz/ton silver intercept from 1981 underground drilling by Silver Century Explorations Ltd.

The Angus Vein is one of two mineralized veins known in the historic Campbell-Crawford adit, and the vein may be exposed on surface as the Campbell-Crawford West vein. The vein trends 060^◦-240^◦ and dips SE at 80^◦ (060^◦/80^◦). The vein was intersected in hole 23-SK-07 at 108.5 metres, confirming the southerly dip. In all three of these cases, the vein occurs within the sheet-like Nipissing Diabase sill and mineralization is relatively low-grade.

Immediately below the lower diabase contact, the vein orientation appears to change sharply. The 060^◦-240^◦ trend seems to remain constant but the dip direction reverses to NW dipping at ~75^◦. Hole 23-SK-08, which intersected the bonanza-grade mineralization, pierced the vein in this zone. However, this change in vein orientation is subparallel to subsequent drillholes 23-SK-09, -10, -11 and -12, which were drilled to the north. Drill hole 23-SK-13 was drilled southerly and a 1 m zone of veined to fracture-filling native silver was intersected, 11 metres laterally and 18 metres deeper than the initial silver intersection in hole 23-SK-08.

David Lewis, Exploration Director with Kuya Silver, commented: “With a grassroots drill intersection of this magnitude, we at Kuya Silver have firmly established ourselves in the legacy of the Cobalt mining camp and I’d like to personally credit and thank our exploration team. The Campbell-Crawford area was neglected as it did not match with the prevailing exploration model, but it stood out as a drill target in our updated understanding of the camp. The assay results of this vein match well with the grade of silver produced in the heyday of the Cobalt camp from 1908-1918, with ore grades between 1,000 – 4,000 oz/t, when an average of 27 million ounces of silver was mined per year.”

Ben Mark, Graduate Student in Geology, remarked: “Of the publicly available data we have compiled, this is by far the best silver assay value encountered from the Cobalt mining camp since at least 1964. Prior to the Angus Vein discovery intersection, the best recent grassroots discovery was by Silver Century Explorations in 1986 at Silver Heart, discovered south of Kerr Lake, which drilled 229 oz/ton silver over 0.20 metres (Armstrong 1986). The best recent brownfields intersection was drilled underground in 1981, also by Silver Century Explorations, at the Rix Athabasca/King Edward mines (Benner 1982), which drilled 959 oz/ton over 0.48 metres, including 1,300 oz/ton silver over 0.12 metres.”

In March 2021, Kuya completed a transaction with First Cobalt Corp. (now Electra Battery Metals) to acquire 100% of the Kerr Project. In January 2023, Kuya acquired the rights to purchase 100% interest in Silver Kings joint venture. The combined property area is now known as the Silver Kings Project.

Kuya has closed a non-brokered private placement by issuing 1,593,184 units at CAD$0.27 per Unit for gross proceeds of CAD$430,160. Each Unit entitles the holder to receive one common share and one-half of one transferable warrant good to buy one  common share at CAD$0.50 until April 3, 2025.