VANCOUVER, BC, June 1, 2022
/CNW/ - Zacatecas Silver Corp. ("Zacatecas" or the "Company")
(TSXV: ZAC) (OTC: ZCTSF) (FSE: 7TV) is pleased to report multiple
silver assays from the ongoing diamond drilling at Panuco North.
The recent assay results, including 1.83m at 235 g/t Ag Eq (224 g/t Ag and 0.15 g/t
Au), identifies a new zone of near surface mineralisation in the
previously untested central zone of Panuco North.
Highlights:
- Angled diamond drilling at Panuco North targeted the western
strike extension of near surface mineralization reported by
Zacatecas on April 7, 2022.
- Panuco North results include:
-
- 1.83 m @ 235 g/t Ag Eq (224
g/t Ag and 0.15 g/t Au) from 53.7 m
downhole (Hole PAN2022-057)
- 3.71 m @ 163 g/t Ag Eq (151
g/t Ag and 0.16 g/t Au) from 54.49 m
downhole (Hole PAN2022-056)
- 1.28 m @ 263 g/t Ag Eq (231
g/t Ag and 0.22 g/t Au) from 147.53 m
downhole (Hole Pan2022-061
- Drilling in the eastern and central part of the Panuco North
Vein has now intercepted near-surface mineralization over a strike
length of 700 m, with the vein
remaining open along strike and open at depth.
- Assay results from 22 Panuco North holes are
pending.
Dr. Chris Wilson, Chief
Operating Officer and a Director of Zacatecas comments, "The most recent round of
drilling tested the central zone of Panuco North and confirmed that
high grade near surface silver mineralisation is present throughout
the Panuco North vein system, extending the know mineralised strike
length by over 300 meters across a previously untested area. The
Panuco North Vein has continued to intercept strong silver grades
The down dip extensions of this central zone extension remain open
to depth and represent robust future targets.''
High-grade silver results from drill hole PAN 2022-057 included
1.83 m @ 235 g/t Ag Eq (224 g/t Ag
and 0.15 g/t Au) from 53.7 m
thereby confirming high-grade near surface mineralisation in the
previously untested central zone, extending the strike length of
know mineralisation. Diamond drill holes PAN 2022-053, 060 and 061
were carried out in the southeast of Panuco North (see Figure
1). Strong silver assay results in drill holes PAN 2022-053,
060 and 061 confirmed the down dip extension of high-grade silver
mineralisation in the southeast and results Included
3.71 m @ 163 g/t Ag Eq (151
g/t Ag and 0.16 g/t Au) from 54.49 m,
1.28 m @ 263 g/t Ag Eq (231 g/t Ag
and 0.22 g/t Au) from 147.53 m
(PAN2022-061), 1.35 m @ 179 g/t Ag Eq
(159 g/t Ag and 0.26 g/t Au) from 100
m (PAN 2022-060) and 0.68
m @ 170 g/t Ag Eq (108 g/t Ag and 0.83 g/t Au) from
95.06 m (PAN 2022-053).
The Company has now completed 63 drill holes at Panuco North for
a total of 7,240 meters. Results from 22 holes are pending and are
anticipated to be received during June. While waiting for assay
results from Panuco North, the Company is drilling at the high
priority El Cristo target, which is an extension of the prolific
Veta Grande Vein. Three holes have
been completed in the ongoing program at El Cristo, all
intersecting mineralisation with assays pending.
Table 1. Drill Results and Intercepts at
Panuco North
HoleID
|
East
|
North
|
Azimuth
(deg.)
|
Dip (deg.)
|
From (m)
|
To (m)
|
Downhole Interval
(m)
|
Ag g/t
|
Au g/t
|
Ag Eq.
|
|
|
PAN2022-053
|
752129
|
2533986
|
032
|
-40
|
132.39
|
132.84
|
0.45
|
217
|
0.49
|
261
|
|
PAN2022-053
|
752129
|
2533986
|
032
|
-40
|
95.06
|
95.74
|
0.68
|
108
|
0.83
|
170
|
|
PAN2022-056
|
751950
|
2534105
|
043
|
-73
|
54.49
|
58.2
|
3.71
|
151
|
0.16
|
163
|
|
PAN2022-057
|
751481
|
2534385
|
027
|
-40
|
53.70
|
55.53
|
1.83
|
224
|
0.15
|
235
|
|
PAN2022-060
|
752053
|
2534039
|
042
|
-87
|
100.00
|
101.35
|
1.35
|
159
|
0.26
|
179
|
|
PAN2022-061
|
752057
|
2354021
|
042
|
-85
|
147.53
|
148.81
|
1.28
|
231
|
0.22
|
248
|
|
Additional drilling is required to determine true widths as all
hole intercepted veins at an oblique angle. The assays are
not capped. Assumptions used in USD for the silver equivalent
calculation were metal prices of $24/oz silver, $1,800/oz gold and recovery is assumed to be
100%. Assay results for three holes (PAN 2022-055, 054 and
062) located in the south-eastern Panuco North returned narrow
zones of low-grade silver-gold mineralization. Three Holes (PAN
2022-048, 049, 050) were drilled to test an area of central
Panuco south with no surface vein
expression, no vein was intersected, and the holes returned no
significant assay results.
Quality Assurance / Quality
Control
Zacatecas follows
industry-recognized standards of Best Practice and Quality
Assurance/Quality Control. Samples are submitted to ALS in batches
of 20 — comprising 17 half cut core samples, one field blank, one
certified reference material and one staged duplicate. Samples are
sealed in plastic bags using single use tie-locks and delivered to
ALS Zacatecas — thereby ensuring chain of custody. Since the
ALS facility in Zacatecas is only
a preparation facility, sample pulps were sent to ALS Ireland for
fire assay. To date all batches have passed QAQC and blanks and
CRM's were within acceptable tolerance limits. All diamond holes
were drilled PQ diameter. Core recovery across all veins was better
than 98%.
The technical content of this news release has been reviewed,
verified and approved by Dr. Chris Wilson, B.Sc (Hons),
PhD, FAusIMM (CP), FSEG. Chief Operating Officer and Director
of Zacatecas Silver, a qualified person as defined by NI
43-101.
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 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.