VANCOUVER, BC, May 6, 2022
/CNW/ - Zacatecas Silver Corp. ("Zacatecas Silver" or the
"Company", (TSXV: ZAC) (OTC: ZCTSF) (FSE:7TV) is pleased to
provide an update on the El Cristo Vein System ("El Cristo")
located within the Zacatecas Property.
Highlights:
- The Secretariat of Environment and Natural Resources of
Mexico ("SEMARNAT") has approved
30 drill permits at El Cristo which will allow drill targeting
throughout the extensive silver rich vein system.
- Multiple oxidized, silver-base metal mineralized veins now
defined over a strike length of at least 4 km significantly
extending the previous reported strike length of 2.5 to 3.0
km.
- Total of 2500m of diamond
drilling in this initial phase of drilling at El Cristo.
- Drilling is ongoing at Panuco North area with multiple
assays pending.
El Cristo Vein System
El Cristo is in the central part of the Zacatecas Property. It
is the northwest extension of the well-known Veta Grande vein which has reported, but
unverified, historical production of 200 Moz AgEq. The veins
at El Cristo show similar characteristics to those at Veta Grande, have a similar orientation, and
are part of the same sigmoidal zone of dilation.
Dr. Chris Wilson, Chief
Operating Officer and a Director of Zacatecas Silver comments "The
approval of 30 drill pads at El Cristo will allow the Company to
drill test multiple veins within a zone of dilation that is almost
4 km long and up to 600 m wide.
The approved pads will allow the near surface depth extensions of
veins to be tested, a strategy that has worked extremely well at
Panuco North where the company is currently drilling. Of particular
interest at El Cristo are those parts of the veins that have
historical shafts and surface workings. Historical, unverified
channel sample assay results, show robust silver grades and the
down-dip extension of these zones are very attractive
targets."
Historically the El Cristo vein system has only been tested by 8
angled diamond drill holes, despite comprising multiple veins
within a zone of dilation that is 4 km long and up to 600 m wide. Moreover, these holes targeted the
vein at depths of below 100 to 200 metres. There are over 20 known
historical near surface shafts and multiple areas with near surface
historical workings.
The cumulative strike length of all veins at El Cristo is at
least 12 kilometres long. El Cristo an extremely prospective system
with numerous high value targets at vein intersections, splays and
flexures. Veins display multiphase and brecciated textures,
indicative of multiple mineralizing events. The historical surface
channel samples, although unverified and not to be relied upon,
demonstrate that many veins may be strongly silver anomalous at
surface. Vein textures and mineralogy at El Cristo are consistent
with the uppermost parts of an intermediate sulphidation system,
suggesting robust depth potential.
Qualified Person
The contents of this news release have been reviewed and
approved by Chris Wilson, B.Sc.
(Hons), PhD, FAusIMM (CP), FSEG, Chief Operating Officer of
Zacatecas Silver. Dr. Wilson is a Qualified Person as defined
by National Instrument 43-101 - Standards of Disclosure for
Mineral Projects and is responsible for all technical
information in this news release.
About Zacatecas Silver
Corp.
Zacatecas is a mineral resource
company with the gold focused advanced stage Esperanza Gold Project
and the silver focused advanced stage Zacatecas Property. The
Zacatecas Property is located in Zacatecas State, Mexico, within the highly prospective
Fresnillo Silver Belt, which has produced over 6.2 billion ounces
of silver. The Company holds 7,826 ha (19,338 acres) of ground that
is highly prospective for low and intermediate sulphidation
silver-base metal mineralization and potentially low sulphidation
gold-dominant mineralization. On December 15, 2021, Zacatecas Silver announced a
mineral resource estimate at the Panuco Deposit consisting of 2.7
million tonnes at 187 g/t AgEq (171 g/t Ag and 0.17 g/t Au) for
16.4 million ounces AgEq (15 million ounces silver and 15 thousand
ounces gold) (see Company's news release dated December 15, 2021).
The Zacatecas Property is 25 km south-east of MAG Silver Corp.'s
Juanicipio Mine and Fresnillo PLC's Fresnillo Mine. The Zacatecas
Property shares common boundaries with Pan American Silver Corp.
claims and El Orito which is owned by Endeavour Silver Corp. There
are four main high-grade silver target areas within the Zacatecas
Property concessions: the Panuco Deposit, Muleros, El Cristo and
San Manuel-San Gill. The Zacatecas Property also includes
El Oro, El Orito, La Cantera, Monserrat, El Peñón, San Judas and San
Juan silver-base metal vein targets, and such targets are
relatively unexplored and will be the focus of rapid
reconnaissance.
The advanced stage Esperanza Gold Project, comprising 14,337.83
hectares), is located in Morelos State, Mexico. To date, significant core and reverse
circulation drilling has occurred at the Esperanza Gold Project
resulting in a total of 389 drill holes for 69,716 metres.
Alamos Gold Inc. reported in its most recent annual
information form a resource estimate of a measured and indicated
resource of 34,352,000 tonnes at 0.98 g/t gold and 8.09 g/t silver
for 1,083,366 ounces of gold and 8,936,201 ounces of silver and
inferred resource of 718,000 tonnes at 0.80 g/t gold and 15.04 g/t
silver for 18,375 ounces of gold and 347,192 ounces of silver. The
Company considers this to be an historical resource for the
purposes of National Instrument 43-101. Resource blocks were
defined using with dimensions of 10 metres (m) by 10
m by five m. The estimation of grades was performed with
the ordinary kriging method on capped composites. An added step in
the estimation strategy was the utilization of the dynamic
anisotropy technique in Vulcan's unfolding options. This
added capability allows for a more realistic outcome of the
estimated grade's spatial distribution as it follows the folded
shape of the deposit. Assumptions used in the resource include the
following metal prices: gold price of $1,400 (U.S.) per
ounce (oz) and silver price of $22 (U.S.) per oz. The
resource assumed the following economic assumptions: recovery of
60.4 per cent at 0.2 g/t to 71.9 per cent at 1.6 g/t for gold, 25
per cent for silver, $2.60-per-tonne mining
costs, 64-cents-per-tonne general and administrative
costs, $4.20-per-tonne milling costs and a pit slope of 45
degrees. The Company considers the resource relevant due to its
identification and modelling of
the Esperanza deposit.
The Company has not done sufficient work to classify the
resource as a current mineral resource or mineral reserves and the
Company is not treating the historical estimate as current mineral
resources or mineral reserves. Although the resource estimate is
considered reliable, the Company will resample a portion of the
drill core for the purpose of carrying out a new resource estimate.
Furthermore, additional data verification, including resurveying of
select diamond drill holes collars; review of graphic drill core
logs, comparison of these logs with remaining half-cut core and a
cross check of select geological logs agonist database entries; and
a check of original assay certificates against the assays and drill
hole database.
On behalf of the Company
Bryan Slusarchuk
Chief Executive Officer and Director
Forward-Looking
Statements
Information set forth in this news release contains
forward-looking statements that are based on assumptions as of the
date of this news release. These statements reflect management's
current estimates, beliefs, intentions and expectations. They are
not guarantees of future performance. Zacatecas Silver cautions
that all forward looking statements are inherently uncertain and
that actual performance may be affected by many material factors,
many of which are beyond their respective control. Such factors
include, among other things: risks and uncertainties relating to
Zacatecas Silver's limited operating history, its proposed
exploration and development activities on its properties and the
need to comply with environmental and governmental
regulations. Accordingly, actual and future events,
conditions and results may differ materially from the estimates,
beliefs, intentions and expectations expressed or implied in the
forward-looking information. Except as required under applicable
securities legislation, Zacatecas Silver does not undertake to
publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
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SOURCE Zacatecas Silver Corp.