VANCOUVER, BC, Feb. 16, 2022 /CNW/ - Zacatecas Silver Corp.
("Zacatecas Silver" or the "Company", (TSXV: ZAC) (OTCQB: ZCTSF)
(Frankfurt: 7TV) is pleased
to report multiple silver and gold assays from ongoing diamond
drilling at the Panuco North Vein. In addition to the high-grade
intercepts reported today from a previously undrilled area of the
vein, assays from multiple additional drill holes are pending.
Highlights:
- The majority of holes tested the near surface depth
extension of the Panuco North Vein in areas that had not previously
been drilled. Results include:
-
- 6.87 m @ 160 g/t Ag Eq (145
g/t Ag and 0.2 g/t Au) from 18.9 m
downhole (Hole PAN 2021-023)
- 4.13 m @ 175 g/t Ag Eq (165
g/t Ag and 0.15 g/t Au) from 39.06 m
downhole (Hole Pan 2021-024)
- 1.23 m @ 750 g/t Ag Eq (723
g/t Ag and 0.36 g/t Au) from 39.39 m
downhole (Hole Pan 2021-025)
- Drilling in the eastern part of the Panuco North Vein has
now intercepted near-surface mineralization over a strike length of
500 m, with the vein remaining open
along strike and open at depth
Dr. Chris Wilson, Chief Operating
Officer and a Director of Zacatecas comments, "The most recent drill
holes at Panuco North Vein intercepted robust silver grades over
down-hole widths of up to 6.87 metres, within 10 to 30 vertical
metres of surface. Together with previously reported results, such
as 2.17 m at 823 g/t Silver Eq
(798 g/t Silver and 0.34 g/t Gold) in Hole PAN 2021-009 as reported
on November 23, 2021, drilling
by the company in the eastern part of the Panuco North Vein has now
intercepted near-surface mineralization over a strike length of
500 m. This part of the vein
has never been drill tested. Mineralization remains open at depth
and to the northwest over at least 1 km of strike length."
Mineralization at Panuco North is of an intermediate
sulphidation epithermal type, characterized by two main veins and a
number of vein splays, with similar orientation to other
silver-gold-base metal veins in the Zacatecas region. Silver-gold-base
metal mineralization in such systems typically has a vertical
extent of between to 400 to >600 vertical metres. Vein
textures, style of mineralization, and gangue/alteration mineralogy
indicates that drilling by Zacatecas Silver has intercepted the
uppermost parts of the mineralized system — indicating robust depth
exploration potential.
Dr. Wilson further comments, "That five holes intercepted
significant mineralization within 30 vertical metres of surface
outcrop not only highlights excellent near surface potential, but
also indicates that step-back holes targeting down-dip (depth)
extension will initially be relatively shallow and thus very
cost-effective. Metal tenor at the top of intermediate sulphidation
epithermal system is generally low and increase downwards into the
main precious metal interval. The grades intercepted in the most
recent holes are extremely encouraging given the location within
the epithermal system — which further underscores the excellent
deeper exploration potential".
It is also very encouraging that the assay results recently
received by Zacatecas Silver are for shallow to very shallow
intercepts. The grades intercepted in the first few holes
demonstrate excellent exploration potential, especially for a vein
system that comprises multiple contiguous veins over a strike
length of 1.7 km, that has demonstrated robust depth potential, and
was only tested historically by 6 drill holes.
Table 1. Drill Results and Intercepts at Panuco North
HoleID
|
East
|
North
|
Azimuth
(deg.)
|
Dip (deg.)
|
From (m)
|
To (m)
|
Downhole
Interval
(m)
|
Ag g/t
|
Au g/t
|
Ag
Eq.
|
|
|
PAN2021-012
|
752189
|
2533923
|
50
|
-71
|
69.75
|
71.16
|
1.4
|
102.9
|
0.77
|
160.0
|
|
PAN2021-017
|
752242
|
2533950
|
67
|
-55
|
148.29
|
149.76
|
1.47
|
199.3
|
0.11
|
207.3
|
|
PAN2021-019
|
751943
|
2534190
|
230
|
-50
|
22.91
|
27.72
|
4.81
|
104.4
|
0.15
|
115.3
|
|
PAN2021-021
|
751893
|
2534230
|
215
|
-40
|
11.96
|
14.30
|
2.34
|
101.5
|
0.16
|
113.0
|
|
PAN2021-023
|
752009
|
2534134
|
228
|
-38
|
18.19
|
25.06
|
6.87
|
144.9
|
0.21
|
160.0
|
|
PAN2021-024
|
752009
|
2534134
|
228
|
-49
|
39.06
|
43.19
|
4.13
|
165.0
|
0.15
|
175.3
|
|
PAN2021-025
|
752050
|
2534036
|
42
|
-56
|
39.39
|
40.62
|
1.23
|
722.6
|
0.36
|
750.0
|
|
Additional drilling is required to determine true widths as all
hole intercepted veins at an oblique angle. The assays are not
capped. Assumptions used in USD for the silver equivalent
calculation were metal prices of $24/oz silver, $1,800/oz gold and recovery is assumed to be
100%. Drill holes PAN 2021-011, 014, 015 and 026 narrow zones
of low grade silver-gold mineralization and holes Pan2021-013 and
018 did not encounter any significant mineralization.
The Company has submitted an application for an additional 27
drill pads, which will allow for drill targeting to depths of
approximately 300 metres vertical along the entire strike length of
the Panuco North Vein. Assay results for 10 holes drilled at Panuco
North and 3 holes drilled into splays of the Panuco Central Vein
are pending.
San Gill
Zacatecas Silver has recently completed 5 angled diamond drill
holes at the San Gill Breccia. Assay results are pending but all
holes drilled a structural zone with abundant pyrite and locally
developed sulphidic quartz veins.
Quality Assurance / Quality Control
Zacatecas follows
industry-recognized standards of Best Practice and Quality
Assurance/Quality Control. Samples are submitted to ALS in batches
of 20 — comprising 17 half cut core samples, one field blank, one
certified reference material and one staged duplicate. Samples are
sealed in plastic bags using single use tie-locks and delivered to
ALS Zacatecas — thereby ensuring chain of custody. Since the
ALS facility in Zacatecas is only
a preparation facility, sample pulps were sent to ALS Ireland for
fire assay. To date all batches have passed QAQC and blanks and
CRM's were within acceptable tolerance limits. All diamond holes
were drilled PQ diameter. Core recovery across all veins was better
than 98%.
The technical content of this news release has been reviewed,
verified and approved by Dr. Chris 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.
On behalf of the Company
Bryan Slusarchuk
Chief Executive Officer and Director
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.