VANCOUVER, BC, Feb. 22, 2022 /CNW/ - Zacapa Resources
(TSXV: ZACA) (DE: BH0) announces that it has staked an
additional 239 mining claims (approximately 19.4 km2) at
the 100% owned Red Top project following the discovery of
porphyry-style mineralization with the inaugural drill hole on the
property. The new staking more than doubles the land position of
the Red Top project north of Superior,
Arizona (Figure 1). Drill hole RT-21-001 was completed in
January to a depth of 1,042 meters encountering extensive
porphyry-style alteration and mineralization (see news release
"Zacapa Resources Identifies New Porphyry Mineralization with
First Drill Hole at Red Top in Arizona," dated January 26, 2022).
"The remarkable success of our early drilling at the Red Top
porphyry copper project has generated considerable interest and our
team acted quickly to secure additional prospective ground in the
area," comments CEO & Director Adam
Melnik. "Our land position provides ample room for our
current and future exploration plans and the major mining companies
exploring next door are a testament to the highly prospective
ground in this part of the Superior Mining District."
The Red Top porphyry copper project now includes 431 claims over
an area of 33.9 km2 with drilling underway on drill hole
RT-22-003.
About the Red Top Porphyry Copper Project
The Red Top porphyry copper project is located in the Superior
Mining District, 8 kilometres northwest of Rio Tinto and BHP's
Resolution mine development project and approximately 11 kilometres
from the Carlota and Pinto Valley mining operations (Figure 2). Red
Top is comprised of 431 unpatented mining claims covering 8,377
acres. The Red Top project area exhibits widespread porphyry-style
alteration over an area of more than 3.5 by 1.5 kilometres with
locally intense alteration near Red Top hill. These quartz-sericite
altered areas, as well as intensely altered zones of pyrophyllite
and illite are analogous to assemblages associated with
mineralization at the upper levels of the Resolution
deposit1,2,3. The alteration and mineralization at Red
Top are interpreted as the expression of the upper levels of a now
moderately tilted porphyry system that has only seen limited
historical exploration and no previous drilling within the target
area. Red Top will continue to be drill tested in 2022.
About Zacapa Resources
Zacapa is a copper and gold focused mineral exploration company
engaged in responsible exploration for the new energy economy. Its
projects are concentrated in world class jurisdictions in the
southwest U.S., including Arizona,
Nevada, and Idaho. The
portfolio includes porphyry copper projects at Red Top, Pearl, and
Dewdrop Moon, and epithermal gold projects at South Bullfrog and
Miller Mountain. These assets are
being advanced by a highly disciplined and seasoned professional
team with successful track records of discovery, resource
development and mine permitting.
References
1 References to other mines and
deposits made in this news release provide context for the Red Top
Project, which occurs in a similar geologic setting, but this is
not necessarily indicative that Red Top hosts similar grades and
tonnages of mineralization.
2 Manske, S.L., and Paul, A.H., 2002,
Geology of a major new porphyry copper center in the Superior (Pioneer) district, Arizona: Economic Geology, v. 97, no. 2, p.
197-220.
3 Rio Tinto, 2020, Annual
Report
4 Paul, A.H., and Manske, S.L., 2005,
History of exploration at the magma Mine, Superior, Arizona, in Rhoden, H.N.,
Steininger, R.C., and Vikre, P.G., eds., Geological Society of
Nevada Symposium 2005: Window to the World, Reno, Nevada, p. 629-638.
5 Singer, D.A., Berger, V.I., and
Moring, B.C., 2008, Porphyry copper deposits of the world: database
and grade and tonnage models, 2008: U.S. Geological Survey,
Open-file report 2008-1155.
6 Dicken, C.L., Dunlap, P., Parks,
H.L., Hammarstrom, J.M., and Zientek, M.L., 2016, Spatial database
for a global assessment of undiscovered copper resources: U.S.
Geological Survey Scientific Investigations Report 2010–5090–Z, 29
p., and GIS data.
For more information, please visit www.zacaparesources.com. All
documents are available on Zacapa's profile page on SEDAR at
www.sedar.com.
On behalf of the Board of Directors,
"Adam Melnik"
Adam Melnik
Chief Executive Officer & Director
Zacapa Resources
+1 604 227 5987
melnik@zacaparesources.com
All scientific and technical information contained in this
press release was prepared under the supervision of
Daniel MacNeil, MSc., P. Geo.,
and a "Qualified Person" as defined by National Instrument
43-101.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward Looking Statements – Certain information set forth in
this news release may contain forward-looking statements that
involve substantial known and unknown risks and
uncertainties. All statements within, other than statements
of historical fact, are to be considered forward looking. Although
Zacapa believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in forward-looking
statements. Zacapa cautions that all forward-looking statements are
inherently uncertain, and that actual performance may be affected
by a number of material factors, many of which are beyond Zacapa's
control. 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. Readers are advised to rely on their
own evaluation of such uncertainties. Except as required under
applicable securities legislation, Zacapa undertakes no obligation
to publicly update or revise forward-looking
information.
SOURCE Zacapa Resources