Zacatecas Silver Provides Update on Ongoing Drilling Activities
Zacatecas Silver Provides Update on Ongoing Drilling
Activities
VANCOUVER, BC
,
Feb. 8, 2022
/CNW/ - Zacatecas Silver Corp. ("Zacatecas Silver" or the "Company", (TSXV: ZAC)
(OTC: ZCTSF) (FSE: 7TV) is pleased to provide an update on its ongoing diamond drilling program at the
Panuco
deposit
and San Gill Breccia located within the Zacatecas Property.
Highlights:
36 diamond drill pads approved at the San Gill Breccia target
Assays pending for 15 holes recently completed at Panuco North
Assays pending for 4 diamond holes completed at northern splay of Panuco Central Vein
Approval for an additional 29 drill pads at Panuco North is expected within the next few weeks
Dr.
Chris Wilson
, Chief Operating Officer and a Director of Zacatecas Silver comments,
"Drilling has progressed at a
very good pace, and we have drilled from almost all permitted drill pads at Panuco North Vein. The usually rapid assay
turn-around has slowed during the recent COVID surge, but should soon return to normal. With assay results and drill
pad permits pending at Panuco North, the rig has moved to the San Gill Breccia following the award of 36 new diamond
drill pads in that target area. San Gill is a largely untested,
800 m
long hematitic breccia zone with anomalous surface
silver-base metal geochemistry, representing a robust exploration target."
Panuco North Vein
Zacatecas Silver has completed a total of 29 angled diamond drill holes at Panuco North, with assays pending for 15 of
the holes. The initial drill holes in the southeast of the vein targeted down-dip extensions of surface outcrop and
intercepted significant intercepts, including
2.17m
at 823 g/t AgEq (798 g/t Ag and 0.34 g/t Au) and
3 m
at 267 g/t AgEq
(203 g/t Ag and 0.85 g/t Au) (see news release dated
November 23, 2021
).
More recent holes have targeted the near surface (<
75 m
) depth extension of the central part of the vein over a strike
length of approximately
250 m
and the NW part of the vein over a strike length of
200 m
. All holes intercepted sulphidic
quartz veins and multiple assays are pending.
The Panuco North Vein (Figure 1) has a strike length of at least two kilometres, within concessions held by the Company,
with shallow historical workings developed along the length of the vein. The Panuco North Vein is open along its 2 km
strike length to the west and at depth. Zacatecas Silver will recommence drilling at Panuco North once drill pad approvals
are granted.
Figure 1: Map of the Panuco North Vein showing the Company’s drill hole locations. Historical drill hole traces are also
shown (black). The base of the map is a grey scale digital elevation model. (CNW Group/Zacatecas Silver Corp.)
San Gill Breccia
The San Gill target is a hematitic/stockwork zone breccia has a NS-trending strike of approximately
800 m
, is up to
40 m
wide, and is most likely near vertical. The NS orientation of the breccia suggest the system may be gold-enriched — as
evidenced by other gold-mineralized NS oriented veins in the
Zacatecas
region. This interpretation is consistent with the
results of a historical diamond drill hole completed by the previous operator which intercepted
4.16 m
at 1.14 g/t Au, 128
g/t Ag, 2.23% Pb and 1.86% Zn (Hole MG 11-08).
Zacatecas Silver drilled three angled diamond holes across the San Gill target in late 2021 and assays have been received
for two holes. All holes intercepted near-surface vein/breccia zones over intervals of 3 to
5 m
downhole. Breccia vein
zones were oxidized and appeared leached. It is therefore significant that hole SGI-2021-003 intercepted a near surface
breccia that assayed:
1.64 m
@ 110 g/t Ag from 61.7 to
63.34 m
downhole
Including
0.52 m
@ 267 g/t Ag (61.7 to
62.22 m
)
The San Gill breccia is largely untested. Dip is poorly constrained and further drilling is required to better understand its
downdip orientation. Zacatecas Silver is planning a series of relatively shallow diamond holes to better understand near
surface geochemistry and morphology. San Gill is a robust exploration target with significant strike and depth potential.
Figure 2: Map of the San Gill Breccia showing the Company’s drill hole locations and recently permitted drill pads.
Historical drill hole traces are also shown (black). The base of the map is a grey scale digital elevation model. (CNW
Group/Zacatecas Silver Corp.)
Figure 3: Zacatecas field geologist completing geotechnical logging of core at the Panuco North Vein drill site. (CNW
Group/Zacatecas Silver Corp.)
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.
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For further information:
Adam Ross, Investor Relations, Direct: (604) 229-9445, Toll Free: 1(833) 923-3334, Email:
CO: Zacatecas Silver Corp.
CNW 08:30e 08-FEB-22