VANCOUVER, BC, Jan. 31, 2022 /CNW/ - Zacatecas Silver Corp.
("Zacatecas Silver" or the "Company", (TSX Venture: ZAC) (OTC
Markets: ZCTSF) (Frankfurt:
7TV) is pleased to announce it has filed on SEDAR a National
Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI
43-101") technical report (the "Technical Report") with respect to
its Zacatecas Property, Mexico. The Technical Report titled
"Independent NI 43-101 Technical Report, Zacatecas Properties,
Zacatecas State, Mexico" dated
January 28, 2022 supports the initial
silver Mineral Resource Estimate at the Panuco Deposit within the
Zacatecas Property (see Zacatecas
news release dated December 14,
2021).
The Panuco Deposit Mineral Resource Estimate consists 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) that is comprised of:
- The Panuco Central Vein that contains an Inferred Mineral
Resource of 2.1 million tonnes at 171 g/t AgEq (156 g/t silver and
0.16 g/t gold) for 11.3 million ounces AgEq (10.3 million ounces
silver and 11 thousand ounces gold), and
- Panuco North Vein which contains an Inferred Mineral
Resource of 0.7 million tonnes at 235 g/t AgEq (216 g/t Ag and 0.21
g/t Au) for 5.1 million ounces AgEq (4.7 million ounces silver and
5 thousand ounces gold). See Table 1 on the breakdown of metal
components that comprise the AgEq disclosure.
- Zacatecas actively drilling
Panuco Deposit targeting expansion along strike and at
depth.
- Multiple recently announced drill results (including
intercept returning 2.17m at 823 g/t
AgEq on November 23, 2021) are not
included in this Mineral Resource calculation and were generated
outside the dimensions of the historical Mineral Resource.
Table 1: Panuco Deposit Inferred Mineral Resource Estimate
Summary (1-8)
Resource
Area
|
Tonnes
(k)
|
Ag
g/t
|
Au
g/t
|
Ag
Moz
|
Au
koz
|
AgEq
g/t
|
AgEq
Moz
|
Panuco Central
Vein
|
2,056
|
156
|
0.16
|
10.326
|
11
|
171
|
11.3
|
Panuco North
Vein
|
677
|
216
|
0.21
|
4.709
|
5
|
235
|
5.13
|
Total
|
2,733
|
171
|
0.17
|
15.035
|
15
|
187
|
16.4
|
Notes:
|
(1)
|
Mineral Resources,
which are not Mineral Reserves, do not have demonstrated economic
viability.
|
(2)
|
The estimate of
Mineral Resources may be materially affected by environmental
permitting, legal title, taxation, socio-political, marketing or
other relevant issues.
|
(3)
|
Resources are
classified according to Canadian Institute of Mining, Metallurgy
and Petroleum ("CIM") Definition Standards (2014) and CIM Best
Practices (2019);
|
(4)
|
The Inferred Mineral
Resource in this estimate has a lower level of confidence than that
applied to an Indicated Mineral Resource and must not be converted
to a Mineral Reserve. It is reasonably expected that the majority
of the Inferred Mineral Resource could be upgraded to an Indicated
Mineral Resource with continued exploration.
|
(5)
|
Silver equivalent
Mineral Resources for the Panuco Deposit were calculated using the
following metal prices: Ag at US $21/oz and Au at
US$1,625/oz.
|
(6)
|
Metallurgical
recoveries have been estimated to be 82% silver and 95%
gold.
|
(7)
|
The Inferred Mineral
Resource Estimate uses a cut-off of 100 g/t AgEq based on US$/tonne
costs of $35/mining, $15 processing and $5 G&A.
|
(8)
|
AgEq = Ag g/t + (Au
g/t x 90)
|
Mineral Resource Estimate Assumptions
The Mineral Resource Estimate was generated using inverse
distance cubed for gold and silver for grade interpolation within a
3-D block model, constrained by mineralized zones defined by
wireframes solid models. The bulk density values used in the
Mineral Resource Estimate were derived from a regression equation
based on data measured from samples collected from re-assayed drill
core completed by Zacatecas Silver.
The database for the Mineral Resource Estimate consisted of 75
drill holes totalling 23,444 m, and
183 trenches totalling 4,540 m, of
which a total of 66 drill holes totalling 19,826 m and 135 trenches totalling 3,545 m intersected the mineralization wireframes
used for the Mineral Resource Estimate. The drill hole
database contained assays for silver and gold as well as other
metals of no economic importance. Zacatacas Silver's seasoned
exploration team carried out extensive data verification on the
historical database by re-sampling 178 historical sample intervals,
being approximately 15% of sample intervals in the Mineral Resource
Estimate.
The Technical Report is available for review on SEDAR
(www.sedar.com). Readers are encouraged to read the Technical
Report in its entirety, including all qualifications, assumptions
and exclusions that relate to the Mineral Resource estimate. The
Technical Report is intended to be read as a whole, and sections
should not be read or relied upon out of context
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.
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.
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.