VANCOUVER, BC, June 1, 2021 /CNW/ - Zacatecas Silver Corp.
("Zacatecas Silver" or the "Company") (TSXV: ZAC) (OTC Markets:
ZCTSF) (Frankfurt: 7TV) is pleased
to announce it has completed first pass geological mapping of the
San Manuel Vein System. The San Manuel vein system lies immediately
to the west of the San Gill Breccia System which was the focus of
the company news release dated April 19,
2021.
Highlights:
- Multiple oxidized, silver-base metal mineralized veins
defined over a strike length of at least three kilometres.
- Eight vein sets have been defined to date which are
associated with a zone of extension that is at least 600 m wide.
- It is common for veins to bifuracate and/or form sigmoidal
offsets — such dilational zones represent robust drill
targets.
- Only 7 angled diamond holes drilled by a previous operator —
of which 4 were focused on a 300 m
strike length of only two veins. Most of the system has never been
drill tested.
- Two of the historical diamond drill hole intersected
significant mineralization: one hole intersected 1.65 m @ 0.36 g/t Au and 437 g/t Ag; the other
intersected 4.16 m @ 1.14 g/t Au, 128
g/t Ag, 2.23% Pb and 1.86% Zn.
San Manuel
The San Manuel vein system is in the southern part of the
Zacatecas Property. The veins at San Manuel are generally oriented
northeast-southwest — the typical orientation of silver-base metal
intermediate sulphidation veins throughout the Zacatecas region. Veins roll towards an
east-west orientation where they contact the north-south San Gill
breccia.
Reconnaissance mapping has confirmed the presence of multiple
steeply dipping veins. Historical artisanal workings and shafts are
common within this area, suggesting historic mining despite limited
to no drilling.
Dr Wilson, Chief Operating Officer and a Director of
Zacatecas comments, "The San
Manuel vein system host a large number of veins of intermediate
sulphidation type. Mapped veins and vein traces have a cumulative
strike extent of at least 8 kilometres. Vein splays and flexures
represent robust exploration targets. With only 7 historical drill
holes — the system is largely untested. Intercepts from 2 of the
historical drill holes confirm the potential for significant
mineralization within veins at San Manuel.
Veins at San Manuel are pervasively oxidized and often weather
recessively — suggesting a quartz-poor but silver-base metal rich
mineralogy. Once oxidized such veins are unlikely to outcrop at
surface, but rather weather recessively. Although this makes
mapping of vein extensions more challenging, it also offers the
potential for discovery of previously un-recognized veins.
Zacatecas is currently
reinterpreting the historical soil, rock-chip and channel sampling
assays results to better model vein distribution and focus further
sampling.
Dr. Wilson further comments, "On its own, the San Manuel vein
system is a large and highly prospective exploration target that
has never been effectively drill tested. The presence of the San
Gill Breccia, which forms the western margin of the San Gill
system, significantly elevates the overall prospectively of the San
Gill-San Manuel area".
Zacatecas has now completed
land access agreements with two of the main landowners at San Gill
and is in discussion with the third. The Company has already
commenced an environmental study at San Gill-San Manuel, concurrent
with planning of first phase drilling at this target, which should
be completed within 4 weeks.
Panuco Deposit
In addition to the work completed at San Gill-San Manuel,
Zacatecas is pleased to announce
that it has now signed three to five year land access agreements
with the community, the municipality and all private land-holders
at Panuco.
These agreements, now complete, allow for ongoing exploration
and drilling.
The Company has also completed its environmental study at Panuco
and has submitted the report to SEMARNET as the final stage of
drill permitting.
Qualified Person
The technical content of this news release has been reviewed,
verified and approved by Dr. Christopher Wilson, B.Sc (Hons), PhD,
FAusIMM (CP), FSEG. Chief Operating Officer and Director of
Zacatecas Silver, a qualified person as defined by NI 43-101.
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 7826 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
review.
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.