Zacatecas Silver Corp.‘s [ZAC-TSXV] common shares commenced trading March 2, 2021 on the TSX Venture Exchange.
The company has a significant historic inferred silver resource in a world-class silver mining region which is open along strike and at depth. Work is starting immediately to target resource confirmation and expansion at the Panuco deposit and exploration and target generation at the Muleros, El Cristo and San Manuel-San Gill prospects.
There is excellent regional exploration potential, including El Cristo — the northwest extension of the Veta Grande vein that has now been traced on the properties for three kilometres (km) at surface but has had very limited previous exploration;
Zacatecas Silver has a strong cash position and management with a record of shareholder wealth creation through exploration, development and mining.
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 hectares of ground that is highly prospective for low-sulphidation and intermediate-sulphidation silver-base-metal mineralization and potentially low-sulphidation gold-dominant mineralization.
The property is 25 km southeast of Mag Silver’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 target areas within the Zacatecas concessions:
The Panuco deposit is located in the north of the concessions and is the most advanced prospect. It has an historic inferred mineral resource of 19,472,901 ounces silver equivalent (AgEq) (cut-off of 100 g/t (AgEq) from 3,954,729 tonnes at 153.2 g/t AgEq (136 g/t silver, 0.14 g/t gold, 0.012% lead and 0.11% zinc. Mineralization at the Panuco remains open along strike and down dip.
The company will immediately commence a soil and rock chip geochemical program, ahead of a 1,500-metre diamond drill program.
Under the company’s last completed financing, Eric Sprott, through 2176423 Ontario Ltd., a corporation which is beneficially owned by him, holds 2 million shares and is one of the largest shareholders of Zacatecas Silver.
Zacatecas Silver is well financed with over $9-million in cash to carry out an extensive drill program onsite, including at the Panuco deposit, at the Veta Grande vein extension target and on other high-priority exploration targets. As at listing, Zacatecas Silver has 52,362,715 common shares issued and outstanding, no warrants, and 5.1 million incentive stock options.