VANCOUVER, BC, March 23,
2022 /CNW/ - Zacatecas Silver Corp. ("Zacatecas
Silver" or the "Company", (TSXV: ZAC) (OTC: ZCTSF) (FSE: 7TV) is
pleased to provide an update on its diamond drilling program at the
Panuco deposit located within the
Zacatecas Property.
Highlights:
- To date Zacatecas has
drilled (7420 m) at the Panuco
Project, of which (4707 m) has been
drilled at Panuco North, from which multiple assays are currently
pending.
- SEMARNAT has now approved 27 additional drill permits at
Panuco North which will allow drill targeting along the entire
interpreted strike length of the vein system.
- Drilling at Panuco North includes follow up on a previously
announced discovery hole in a previously undrilled area of the
system which returned 2.17m at 823
g/t AgEq.
Panuco North Vein
The focus of the drilling to date has been along the
south-eastern portion of the Panuco North vein where high grade
silver mineralization has been intercepted near surface over widths
of up to 6.8 m downhole and a strike
length of least 500 m. While most
holes targeted mineralization within 50
m of surface, several deeper holes intercepted
mineralization at down-hole depths of up to 150 m (approximately 120
m vertical) including previously reported 2.17 m @ 823 g/t AqEq (798 g/t Ag and 0.34 g/t
Au) in hole Pan 2021-009.
Dr. Chris Wilson, Chief
Operating Officer and a Director of Zacatecas Silver comments, "The
approval of 27 additional drill pads at Panuco North will allow the
Company to drill test the entire Panuco north vein which has a strike extent of
almost 2 km within Company Concessions. The recently approved drill
pads are well positioned to allow fan drilling of multiple holes
from each pad, to target both near surface and deeper depth
extensions."
To date Zacatecas Silver has received and reported assays for 16
holes at Panuco North. Assays are pending for an additional 24
holes, many of which intercepted dark sulphide quartz veins, with
textures and mineralogy consistent with being at the top of an
intermediate sulphidation system. Assays are expected in the next
three weeks.
El Cristo
The Company now has access agreements in place and environmental
studies completed for those areas if El Cristo where drilling is
planned. An application filed with SEMARNAT for an additional 29
drill pads.
El Cristo is the direct strike extension of the Veta Grande which has a 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.
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 3 km long and up to 600 m wide. There are over 20 known historical
near surface shafts and multiple areas with near surface historical
workings. The Company plans to target the near surface depth
extension of veins when drill pads are permitted.
Additional Areas
The Company is presently completing environmental studies at
Muleros and San Manuel ahead of
drill pad applications.
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.