Zacatecas Silver Receives Permits for 27 New Drill Pads at Panuco North
Zacatecas Silver Receives Permits for 27 New Drill Pads at
Panuco North
VANCOUVER, BC
,
March 23, 2022
/CNW/ - Zacatecas Silver Corp. ("Zacatecas Silver" or the "Company", (TSXV: ZAC) (OTC:
ZCTSF) (FSE: 7TV) is pleased to provide an update on its diamond drilling program at the
Panuco
deposit located within the
Zacatecas Property.
Highlights:
To date
Zacatecas
has drilled (
7420 m
) at the Panuco Project, of which (
4707 m
) has been drilled at Panuco North,
from which multiple assays are currently pending.
SEMARNAT has now approved 27 additional drill permits at Panuco North which will allow drill targeting along the
entire interpreted strike length of the vein system.
Drilling at Panuco North includes follow up on a previously announced discovery hole in a previously undrilled area of
the system which returned
2.17m
at 823 g/t AgEq.
Panuco North Vein
The focus of the drilling to date has been along the south-eastern portion of the Panuco North vein where high grade silver
mineralization has been intercepted near surface over widths of up to
6.8 m
downhole and a strike length of least
500 m
. While most
holes targeted mineralization within
50 m
of surface, several deeper holes intercepted mineralization at down-hole depths of up to
150 m
(approximately
120 m
vertical) including previously reported
2.17 m
@ 823 g/t AqEq (798 g/t Ag and 0.34 g/t Au) in hole Pan
2021-009.
Dr.
Chris Wilson
, Chief Operating Officer and a Director of Zacatecas Silver comments, "The approval of 27 additional drill pads at
Panuco North will allow the Company to drill test the entire
Panuco
north vein which has a strike extent of almost 2 km within
Company Concessions. The recently approved drill pads are well positioned to allow fan drilling of multiple holes from each pad,
to target both near surface and deeper depth extensions."
To date Zacatecas Silver has received and reported assays for 16 holes at Panuco North. Assays are pending for an additional 24
holes, many of which intercepted dark sulphide quartz veins, with textures and mineralogy consistent with being at the top of an
intermediate sulphidation system. Assays are expected in the next three weeks.
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.)
El Cristo
The Company now has access agreements in place and environmental studies completed for those areas if El Cristo where drilling is
planned. An application filed with SEMARNAT for an additional 29 drill pads.
El Cristo is the direct strike extension of the
Veta Grande
which has a reported, but unverified, historical production of 200 Moz
AgEq. The veins at El Cristo show similar characteristics to those at
Veta Grande
, have a similar orientation, and are part of the
same sigmoidal zone of dilation.
Historically the El Cristo vein system has only been tested by 8 angled diamond drill holes, despite comprising multiple veins within a
zone of dilation that is 3 km long and up to
600 m
wide. There are over 20 known historical near surface shafts and multiple areas
with near surface historical workings. The Company plans to target the near surface depth extension of veins when drill pads are
permitted.
Additional Areas
The Company is presently completing environmental studies at Muleros and
San Manuel
ahead of drill pad applications.
Figure 2: Map showing company concessions and major veins. Prospects mentioned in the text are shown. (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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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 23-MAR-22