Zacatecas Silver Appoints Mr. Jorge Ramiro Monroy as Advisor and Overwhelming Shareholder Approval at Annual General Meeting
Zacatecas Silver Appoints Mr. Jorge Ramiro Monroy as Advisor and
Overwhelming Shareholder Approval at Annual General Meeting
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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For further information:
Adam Ross, Investor Relations, Direct: (604) 229-9445, Toll Free: 1(833) 923-3334, Email: [email protected]
CO: Zacatecas Silver Corp.
CNW 16:00e 18-JUL-22