VANCOUVER, BC, July 18,
2022 /CNW/ - Zacatecas Silver Corp. ("Zacatecas
Silver" or the "Company") (TSXV: ZAC) (OTC: ZCTSF) (Frankfurt: 7TV) is pleased announce the
appointment of Mr. Jorge Ramiro
Monroy as Advisor and receives overwhelming share approval
of all matters at the Annual General Meeting held on July 15, 2022.
Highlights:
- founder and Director of Mexican Chamber of Commerce in
Hong Kong
- founder of Silver Council of Asia
- extensive business experience in Mexico
Mr. Ramiro Monroy is the Founder
and Managing Director of Emerging Markets Capital, an investment
firm based in Hong Kong and
investing primarily in mining exploration equities listed on the
Toronto Stock Exchange.
He was a founding member of the Mexican Chamber of Commerce in
Hong Kong and a Founder of the
Silver Council of Asia.
Having spent the majority of his career in Asia, Mr. Ramiro
Monroy has founded a number of businesses with Asian capital
doing business in North America.
He is the CEO and Founder of Reyna
Silver, a Toronto Stock Exchange listed company with silver
exploration projects in Mexico and
the US.
Mr. Ramiro Monroy currently
serves in the boards of Sierra Madre
Gold and Silver and Arabian Shield Resources. He is a former
director of Prime Mining and a Director of Garra Esports, a private
company looking to build an Esports business in Latin America.
Prior to founding Emerging Markets Capital, Jorge worked for
Frontier Securities, a Japanese owned investment advisory and
securities brokerage. He was part of the natural resources
investments advisory team, advising and capital rising for mining
and infrastructure companies with projects in Mongolia looking for investors in Asia and the Middle
East.
Mr. Ramiro Monroy holds a
Bachelor's degree from the State University of
New York, an MBA in Finance from the Hong Kong University of Science and Technology.
Jorge is fluent in English, Hindi, Spanish and Portuguese and
has passed the level III HSK Chinese Fluency Exam.
Zacatecas CEO and Director Bryan Slusarchuk, states, "Jorge
has an excellent track record of successfully doing business in
Mexico and has also done a great
job introducing international sources of capital to various Mexican
ventures. He is a promoter of Mexico, through his work within such entities
as the Mexican Chamber of Commerce in Hong Kong. We are pleased to welcome Jorge to
the Zacatecas team as we advance
the Esperanza Gold Project towards gold production while
concurrently exploring the high grade Zacatecas Silver
Project."
Voting Results from Annual General Meeting
Zacatecas is pleased to
announce that shareholders overwhelmingly approved all motions put
forth at the Annual General Meeting held on July 15, 2022, including the re-election of Bryan
Slusarchuck, John Lewins,
Christopher Wilson, Nancy La Couvee, Jonathan Richards and Charles Hethey as well as the appointment of
previously announced Dr. Luis Chavez
Martinez. Dr. Chavez is the Senior Vice President,
Mexico, Alamos Gold Inc., is
current Director of the Mexican Chamber of Mines, former
President of the Mexican Mining Association and former General
Director Mexican Geological Survey.
The shareholders also approved the appointment of Davidson &
Company LLP as the auditors of Zacatecas and the 10% rolling stock option
plan of Zacatecas.
The votes cast for each matter was as follows:
Resolution
|
For %
|
Withheld/Against
%
|
Number of
Directors
|
99.41 %
|
0.59 %
|
Directors
|
|
|
Bryan
Slusarchuk
|
99.44 %
|
0.56 %
|
John
Lewins
|
98.55 %
|
1.45 %
|
Christopher
Wilson
|
99.44 %
|
0.56 %
|
Nancy La
Couvee
|
99.42 %
|
0.58 %
|
Luis
Chavez
|
99.42 %
|
0.58 %
|
Jonathan
Richards
|
98.54 %
|
1.46 %
|
Charles
Hethey
|
99.44 %
|
0.56 %
|
Appointment of Davidson
& Company LLP
|
99.45 %
|
0.55 %
|
Stock Option
Plan
|
89.43 %
|
10.57 %
|
A total of 22,596,743 common shares, being 27.4% of the issued
and outstanding, were voted at the Annual General Meeting.
Stock Option Grant
In conjunction with the appointment of Mr. Ramiro and Dr. Chavez
as well as other grants to consultants, a total of 1,100,00 stock
options have been granted, having an exercise price of $0.70 and a five year term. Of these
options, 400,000 were issued to Dr. Chavez, who is now a director
of the Zacatecas.
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 14, 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 14, 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.