pitBULL Pieces


In reference to Kootenay Silver TSX.V – KTN Update August 22nd 2012


I’d like to talk about a few things in regards to KTN’s last news release:


Kootenay Silver Announces Results of Updated NI 43-101 Resource Estimate on its Flagship Promontorio Silver Project in Sonora, Mexico


When SRK does a resource estimate they use a mathematical modeling program to define potentially economic ozs at, and above, the cut-off grade.



A Whittle Pit would encompass all the ozs, (the ones with proper drill hole spacing allowing them to be used) above the cut-off grade in a certain area, all mining costs are considered. What we end up with is an extremely detailed first pass list of the economic viability of the deposit.


Currently, the drill hole spacing between the Pit Zone Resource and the NE Zone Resource is too far apart for a resource to be calculated, the company intends to infill drill the gap between the two resources in the upcoming 25,000 meter drill program. KTN also intends to drill towards the Dorotea Zone to potentially establish continuity.


At the same time Kootenay will continue, and start, the engineering studies required to evaluate what they have on an economic basis.


There have been many questioning why a $34 cut-off was used when First Majestic used $25. Well the difference is Majestic was doing a feasibility study on a mine for reserves. For reserves, mineable ore, you use a 36 month trailing average.


SRK was doing a resource calculation, potentially economic ore, for KTN and its perfectly acceptable to use an 18 month trailing average, which is where the $34 came from.


The updated Measured and Indicated resource contains an estimated 61,679,000 oz Ag Eq with another 14,469,000 oz Ag Eq categorized as Inferred. With just over 76m oz Ag Eq and looking at the above diagram it’s not hard to believe, imo, that Promontorio is going well over 100m oz Ag Eq.


Rick Mills




In reference to Altair Ventures TSX.V - AVX news release dated August 20th 2012


Altair Drills 2.07g/t Gold Over 85.10 Metres

and 1.04g/t Gold Over 117.74 Metres at Kena Property


Both holes were drilled into the Kena Gold Zone and were twins of previous holes. Results were excellent and serve to confirm historical results and broaden understanding of, and extending, the mineralization to depth.


Altair completed eight diamond drill holes totaling 1,360.05 meters on the Kena Gold Zone (KGZ) in July of 2012. The drill then moved to the Gold Mountain Zone (GMZ) to drill an additional eleven holes. Step-outs from the known areas of mineralization were/are being drilled, with some holes testing for mineralization to depth beyond, and in gaps between, the current resource blocks. We’re waiting for results from 17 more holes – 6 into the KGZ and 11 from the GMZ.


Following the completion of these holes, a short break to allow for the receipt of assays will provide guidance for a second phase of drilling. A total of at least 5,000 meters is planned between the two zones.


Below I’ve provided links showing the locations of the two drill holes released so far:





Rick Mills




Northern Vertex Mining Corp. TSX.V – NEE


In reference to Northern Vertex's news release dated Aug 16th 2012:


"Northern Vertex Intersects 9.14 Meters of 10.83 gpt Gold Equivalent Grade within a 24 Meters Intersection Averaging 4.9 gpt Gold Equivalent in Underground Channel Sampling Program at Moss Gold-Silver Project."


I like this better then a drill hole, the channel sample would be more representative than a drill hole because it stretches across the mineralized zone rather than just a 2" hole through it.


Very nice, shows hi grade intercept and of course opens up the blue sky of more.

I expect an expanded resource estimate in the fall and the Moss to be fast tracked to production.


Rick Mills




Sernova Corp. TSX.V – SVA


The potential to treat diabetes, both Type 1 and in the future Type 2, Parathyroid, Haemophelia, liver failure, Parkinsons disease and others - virtually any disease in which a hormone is lacking.


WORLD FIRST: Islet Transplant into Man Using Sernova's Corp's Cell Pouch(Tm) for Treatment of Diabetes


Very exciting, definitely one to have on your radar screen.


Rick Mills






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