VANCOUVER, BC, March 2, 2022 /CNW/ - Zacapa
Resources (TSXV: ZACA) (DE: BH0) announces an update on
its exploration activities at the Miller Mountain project in
Idaho. Since acquiring the project
in 2021, Zacapa has completed initial reconnaissance scale mapping,
sampling, and geophysical surveys to identify and refine targets in
the area. In total, 1,028 geochemical samples were collected,
comprised of 52 stream sediment samples, 725 soil samples, and 251
rock grab samples (Figures 1 and 2). Sampling was focused in and
around the historic Miller and Specimen mine areas and returned up
to 19 g/t Au confirming historical reports demonstrating high-grade
outcropping gold mineralization of up to 27 g/t Au1.
Results of a 220 line-km magnetic and radiometric geophysical
survey were received in November 2021
and are in the process of being interpreted in conjunction with
geochemical results (Figure 2). Initial fieldwork has identified
several additional prospective areas for further investigation
including the Spur 2, Specimen West, and Quartz Hill target areas.
A four-hole low-impact drilling proposal at the Specimen Mine has
been accepted by the U.S. Forest
Service and is designed to follow-up historic drill
intercepts of more than 7 metres at 21 g/t Au1. An
additional seven holes are also planned for the historic Miller
Mine area.
Highlights:
- Reconnaissance mapping and sampling completed including 52
stream sediment samples, 725 soil samples, and 251 rock grab
samples
- Grab samples containing up to 19 g/t Au confirms high-grade
outcropping mineralization
- 220 line-km magnetic and radiometric geophysical survey
completed and being interpreted
- Several new targets derived from 2021 exploration results
- 2022 exploration program to focus on drilling at the historic
Miller and Specimen mines
- Phase one drilling proposal for the Specimen Mine area accepted
by U.S. Forest Service
"The results of our geochemical and geophysical surveys have
confirmed historic reports of high-grade gold at surface and
provided compelling targets for our inaugural drill campaign
commencing this summer season," comments CEO and Director,
Adam Melnik. "Our team has secured
permission for important phase one drilling to follow-up excellent
historic drilling intercepts at the Specimen Mine and intends to
follow up with drilling at the historic Miller Mine for a total of
up to 2,000 metres drilling in the initial program using low impact
drilling technology."
About the Miller Mountain Epithermal Gold
Project
The Miller Mountain epithermal gold project is located in the
Miller Mountain Mining District along the highly prospective
Trans-Challis fault system, twenty kilometres northeast of the
Boise Basin District, which
historically produced ~2.5Moz Au (Figure 4)2. Miller
Mountain is comprised of 245 unpatented mining claims covering
5,103 acres (20.65 km2). Gold mineralization in the
district is associated with large quartz veins and altered
granodiorite wallrock with numerous occurrences through the project
area. Miller Mountain is slated for drill testing in summer
2022.
About Zacapa Resources
Zacapa is a copper and gold focused mineral exploration company
engaged in responsible exploration for the new energy economy. Its
projects are concentrated in world class jurisdictions in the
southwest U.S., including Arizona,
Nevada, and Idaho. The
portfolio includes porphyry copper projects at Red Top, Pearl, and
Dewdrop Moon, and epithermal gold projects at South Bullfrog and
Miller Mountain. These assets are being advanced by a highly
disciplined and seasoned professional team with successful track
records of discovery, resource development and mine permitting.
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References
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1 Close, T.J., 1993,
Mineral Resources of the Red Mountain Roadless Area, Boise, Custer,
and Valley Counties, Idaho: U.S. Bureau of Mines, Mineral Land
Assessment Open File Report 4-93, 137 p.
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2 Koschmann, A.H. and
Bergendahl, M.H., 1968, Principal Gold-Producing Districts of the
United States: US Geological Survey Professional Paper 610, 283
p.
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For more information, please visit www.zacaparesources.com. All
documents are available on Zacapa's profile page on SEDAR at
www.sedar.com.
On behalf of the Board of Directors,
"Adam Melnik"
All scientific and technical information contained in this
press release was prepared under the supervision of
Daniel MacNeil, MSc., P. Geo.,
and a "Qualified Person" as defined by National Instrument
43-101.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward Looking Statements – Certain information set forth in
this news release may contain forward-looking statements that
involve substantial known and unknown risks and uncertainties. All
statements within, other than statements of historical fact, are to
be considered forward looking. Although Zacapa believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements. Zacapa
cautions that all forward-looking statements are inherently
uncertain, and that actual performance may be affected by a number
of material factors, many of which are beyond Zacapa's control.
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. Readers are advised to rely on their own evaluation of
such uncertainties. Except as required under applicable securities
legislation, Zacapa undertakes no obligation to publicly update or
revise forward-looking information.
SOURCE Zacapa Resources