Zacatecas drills 160 g/t AgEq over 6.87 metres at Panuco, Mexico
Zacatecas Silver Corp. [ZAC-TSXV; ZCTSF-OTC] reported multiple silver and gold assays from continuing diamond drilling at the Panuco North vein within the100%-owned Zacatecas property, Mexico. 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.
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 metres of 160 g/t silver equivalent (AgEq) (145 g/t silver and 0.2 g/t gold) from 18.9 metres downhole in Hole PAN 2021-023.
Hole PAN 2021-024 returned 4.13 metres of 175 g/t AgEq (165 g/t silver and 0.15 g/t gold) from 39.06 metres downhole. Hole Pan 2021-025 returned 1.23 metres of 750 g/t AgEq (723 g/t silver and 0.36 g/t gold) from 39.39 metres downhole.
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, said, “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 metres at 823 g/t silver equivalent (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.”
Dr. Wilson further commented, “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 six drill holes.
Additional drilling is required to determine true widths as all hole intercepted veins at an oblique angle. Drill holes PAN 2021-011, 014, 015 and 026 narrow zones of low-grade silver-gold mineralization and holes PAN 2021-013 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.
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.