Kootenay Silver Inc. (TSXV: KTN, OTCQX: KOOYF) has reached a significant milestone that casts a bright light on its ambitions in northern Mexico. The Vancouver-based company announced the completion and filing of its maiden NI 43-101 technical report for the Columba Silver Project, located in Chihuahua. This marks the first-ever mineral resource estimate (MRE) for Columba, confirming a substantial silver resource and setting the stage for the next phase of exploration drilling.
The resource estimate, effective as of May 29, 2025, was prepared by independent consultants and includes 5.92 million tonnes of inferred mineral resources grading 284 grams per tonne (gpt) silver. This translates to an estimated 54.1 million ounces of silver, with additional resources of 25.2 million pounds of lead and 65.6 million pounds of zinc. To put that in context, the estimate is based on a conservative base-case cut-off grade of 150 gpt silver, excluding material previously mined from the F Vein.
The Columba property is a classic epithermal silver district containing at least 17 veins, all of which were included in the new estimate. What’s particularly notable about this estimate is that it’s entirely underground. There is no open-pit scenario, which often comes with a higher environmental footprint and longer regulatory timelines. Instead, the focus is on high-grade underground mineralization, which is typically more attractive to advanced silver explorers and producers.
This MRE doesn’t just represent a technical achievement for Kootenay Silver, it gives substance and shape to years of drilling and geologic modeling, work that began back in 2019. According to company management, many of Columba’s veins remain open in multiple directions, both at depth and along strike, meaning the full silver picture might only be starting to come into focus1.
With the technical report now formally filed on SEDAR+ and viewable on the company’s website, investors and potential partners have the opportunity to dig into the details and better understand Columba’s upside potential.
Shortly on the heels of completing the technical report, Kootenay Silver also announced that drilling has resumed at Columba. This marks the project’s seventh phase of drilling, underscoring the continuous exploration effort since work began six years ago. The main goal this time around: to extend all mineralized zones, both deeper and further along strike. CEO James McDonald expressed optimism about the new resource and the prospects for further resource growth, given that so many veins remain open for expansion.
The current exploration focus is firmly rooted in providing more clarity on Columba’s resource, which could ultimately make it more appealing not just to the market but to potential strategic partners. While this is a significant step, Kootenay Silver is still in the exploration phase, so there remain questions about future economic studies, permitting, and financing, each of which will play a role in how quickly the project can advance. However, establishing a large and high-grade inferred resource is a strong endorsement of the project’s potential.
For now, Kootenay Silver is celebrating a genuine inflection point, having moved the Columba project out of the realm of pure speculation and into a category where real numbers and tonnages guide future decisions. While the work at Columba is far from over, it’s clear that Kootenay’s belief in this historic Mexican district appears to beginning to pay off.Â
