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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Zacatecas Silver Corp | TSXV:ZAC | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.025 | -20.83% | 0.095 | 0.095 | 0.10 | 0.11 | 0.09 | 0.11 | 1,273,770 | 17:49:59 |
VANCOUVER, BC, March 13, 2023 /CNW/ - Zacatecas Silver Corp. ( the "Company"), (TSXV: ZAC) (OTC Markets: ZCTSF) (Frankfurt: 7TV) is pleased to announce its exploration plans on a key deep intrusion target near the Esperanza Gold Project as well as other near surface targets around the Esperanza Gold Project.
The previous operators drilled several holes targeting mineralization on the western edge of the Esperanza Gold Project beneath the planned depth of the open pit. Drill result intercepts in primary (hypogene) sulphide mineralization included:
Mineralization in the above three holes is open at depth and along strike, suggesting that gold and silver-mineralized fluids were sourced from a deeper mineralizing intrusion. Potential target types include stockwork, disseminated and breccia-hosted gold and silver mineralization proximal to the mineralizing intrusion, and skarn and disseminated gold and silver mineralization in limestone and calcareous sediments (see Figure 1). Although zinc and copper grades were generally low, grades increase downhole, highlighting the potential for deep base metal targets. The highest grades of these assays were contained in 1.5 m at 0.52% Cu and 7.82 % Zn and further support this hypothesis.
The previously un-drilled Southwest Extension Prospect is defined at surface by skarn facies and marble with quartz-iron oxide veins. This prospect is along strike of the Esperanza Deposit and feldspar porphyry, and the Coatetelco Prospect 3.5 km to the southwest. The Southwest Extension Prospect appears to lie within a northeast-southwest trending corridor that has exerted a fundamental control on mineralization at Esperanza. It is a robust deep exploration target.
Historical geochemical sampling and scout diamond drilling defined four areas proximal to the Esperanza deposit that are high priority targets for near surface discovery of gold-silver mineralization. Three of the targets occur at the contact of the feldspar porphyry and are known as the Northern Contact, Northeastern Contact and Colotepec Prospects (see Figure 2). A fourth prospect known as Maize, is located approximately 0.5 km to the northwest of the feldspar porphyry at the northwestern edge of the Esperanza deposit.
Based on the foregoing high priority exploration targets, the Company plans a focused geochemical sampling and field-based geophysical sampling program:
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. Dr. Wilson is a Qualified Person as defined by NI 43-101 and is responsible for all technical information in this news release.
The Company has two key projects. The Esperanza Gold Project in Morelos State, Mexico and the Zacatecas Silver Project in Zacatecas State, Mexico.
Esperanza is an advanced stage, attractive low-cost, low-capital-intensity and low-technical-risk growth project located in Morelos state, Mexico. Alamos has progressed the project through advanced engineering, including metallurgical work, while also focusing on stakeholder engagement, including building community relations. The Company announced a Mineral Resource Estimate at Esperanza consisting of a Measured and Indicated Mineral Resource Estimate of 30.5 million tonnes at 0.97 g/t AuEq for 956 thousand ounces AuEq and an Inferred Mineral Resource estimate of 8.7 million tonnes at 0.98 g/t AuEq for 277 thousand ounces AuEq (see news release dated November 16, 2022).
The Zacatecas Silver Project 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 hectares (19,338 acres) of ground that is highly prospective for low-sulphidation and intermediate-sulphidation silver base metal mineralization and potentially low-sulphidation gold-dominant mineralization. The Company announced a Mineral Resource Estimate at the Panuco Deposit consisting of 2.7 million tonnes at 187 grams per tonne (g/t) silver equivalent (AgEq) (171 g/t silver (Ag) and 0.17 g/t gold (Au)) for 16.4 million ounces AgEq (15 million ounces silver and 15,000 ounces gold) (see news release dated December 14, 2021).
The property is 25 kilometres (km) southeast of MAG Silver Corp.'s Juanicipio Mine and Fresnillo PLC's Fresnillo Mine. The Property shares common boundaries with Pan American Silver Corp. claims and El Orito, which is owned by Endeavour Silver.
On behalf of the Company
Bryan Slusarchuk
Chief Executive Officer and Director
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 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' limited operating history, its proposed exploration and development activities on its Esperanza Gold Project and Zacatecas Silver Project 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. A Pre-Feasibility Study has commenced for the Esperanza Gold Project which will provide further information as to economic projections and assumptions related to the project, however there are currently no assurances that the project will be economically viable nor assurances that necessary financing, permitting, and metal prices will exist to enable development. Except as required under applicable securities legislation, Zacatecas 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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/zacatecas-silver-announces-exploration-plans-targeting-expansion-of-esperanza-gold-project-301769830.html
SOURCE Zacatecas Silver Corp.
Copyright 2023 Canada NewsWire
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