VANCOUVER, BC, Feb. 8, 2022 /CNW/ - Zacatecas Silver Corp.
("Zacatecas Silver" or the "Company", (TSXV: ZAC) (OTC: ZCTSF)
(FSE: 7TV) is pleased to provide an update on its ongoing diamond
drilling program at the Panuco
deposit and San Gill Breccia located within the Zacatecas
Property.
Highlights:
- 36 diamond drill pads approved at the San Gill Breccia
target
- Assays pending for 15 holes recently completed at Panuco
North
- Assays pending for 4 diamond holes completed at northern
splay of Panuco Central Vein
- Approval for an additional 29 drill pads at Panuco North is
expected within the next few weeks
Dr. Chris Wilson, Chief
Operating Officer and a Director of Zacatecas Silver comments,
"Drilling has progressed at a very good pace, and we have
drilled from almost all permitted drill pads at Panuco North Vein.
The usually rapid assay turn-around has slowed during the recent
COVID surge, but should soon return to normal. With assay results
and drill pad permits pending at Panuco North, the rig has moved to
the San Gill Breccia following the award of 36 new diamond drill
pads in that target area. San Gill is a largely untested,
800 m long hematitic breccia zone
with anomalous surface silver-base metal geochemistry, representing
a robust exploration target."
Panuco North Vein
Zacatecas Silver has completed a total of 29 angled diamond
drill holes at Panuco North, with assays pending for 15 of the
holes. The initial drill holes in the southeast of the vein
targeted down-dip extensions of surface outcrop and intercepted
significant intercepts, including 2.17m at 823 g/t AgEq (798 g/t Ag and 0.34 g/t
Au) and 3 m at 267 g/t AgEq (203 g/t
Ag and 0.85 g/t Au) (see news release dated November 23, 2021).
More recent holes have targeted the near surface
(<75 m) depth extension of the
central part of the vein over a strike length of approximately
250 m and the NW part of the vein
over a strike length of 200 m. All
holes intercepted sulphidic quartz veins and multiple assays are
pending.
The Panuco North Vein (Figure 1) has a strike length of at least
two kilometres, within concessions held by the Company, with
shallow historical workings developed along the length of the vein.
The Panuco North Vein is open along its 2 km strike length to the
west and at depth. Zacatecas Silver will recommence drilling at
Panuco North once drill pad approvals are granted.
San Gill Breccia
The San Gill target is a hematitic/stockwork zone breccia has a
NS-trending strike of approximately 800
m, is up to 40 m wide, and is
most likely near vertical. The NS orientation of the breccia
suggest the system may be gold-enriched — as evidenced by other
gold-mineralized NS oriented veins in the Zacatecas region. This interpretation is
consistent with the results of a historical diamond drill hole
completed by the previous operator which intercepted 4.16 m at 1.14 g/t Au, 128 g/t Ag, 2.23% Pb and
1.86% Zn (Hole MG 11-08).
Zacatecas Silver drilled three angled diamond holes across the
San Gill target in late 2021 and assays have been received for two
holes. All holes intercepted near-surface vein/breccia zones over
intervals of 3 to 5 m downhole.
Breccia vein zones were oxidized and appeared leached. It is
therefore significant that hole SGI-2021-003 intercepted a near
surface breccia that assayed:
- 1.64 m @ 110 g/t Ag from 61.7 to
63.34 m downhole
- Including 0.52 m @ 267 g/t Ag
(61.7 to 62.22 m)
The San Gill breccia is largely untested. Dip is poorly
constrained and further drilling is required to better understand
its downdip orientation. Zacatecas Silver is planning a series of
relatively shallow diamond holes to better understand near surface
geochemistry and morphology. San Gill is a robust exploration
target with significant strike and 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 NI 43-101 and is responsible for all technical information
in this news release.
About Zacatecas Silver Corp.
The Zacatecas Silver 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 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
news release dated December 15,
2021).
The property is 25 km south-east 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. There are four main
high-grade silver target areas within the Zacatecas concessions: the Panuco Deposit,
Muleros, El Cristo and San Manuel-San Gill. The Property also
includes El Oro, El Orito,
La Cantera, Monserrat, El Peñón,
San Judas and San Juan silver-base metal vein targets. These
targets are relatively unexplored and will be the focus of rapid
reconnaissance.
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 is Zacatecas 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.