Zacatecas launches 4,000 m drill program at Zacatecas
Executive Summary
- Zacatecas Silver Corp. announced a 4,000‑metre diamond drill program targeting the El Cristo and Panuco vein systems in its wholly owned Zacatecas silver project, with mobilization planned for Q4 2025.
- The company is raising up to $2.5 million through a non‑brokered private placement of units (one common share + one warrant) priced at C$0.06 per unit to fund the drill campaign and related strategic initiatives.
- Updated resource estimates for the Panuco deposit now total 20.5 Moz AgEq (19.0 Moz silver and 19,200 oz gold), supporting further exploration upside.
Key Details
- Drill Program Scope
- Total planned drilling: 4,000 m (2,500 m at El Cristo; up to 1,500 m at Panuco).
- El Cristo focus: test large under‑explored vein system linked to historic Veta Grande; mobilization targeted for December 2025.
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Panuco focus: revisit high‑grade zones with up to 1,500 m of drilling.
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Key Historical Intercepts (El Cristo)
- 9.00 m @ 158 g/t AgEq (149 g/t Ag, 0.05 g/t Au, 0.08 % Zn, 0.05 % Pb) – hole CRI‑2022‑018.
- 0.82 m @ 592 g/t AgEq (84 g/t Ag, 0.14 g/t Au, 3.7 % Zn, 11.8 % Pb) – hole CRI‑2022‑020.
- 3.00 m @ 262 g/t AgEq (250 g/t Ag, 0.07 g/t Au, 0.1 % Zn, 0.04 % Pb) – hole CRI‑2022‑026.
- 2.10 m @ 204 g/t AgEq (200 g/t Ag, 0.03 g/t Au, 0.03 % Zn, 0.01 % Pb) – hole CRI‑2022‑017.
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1.60 m @ 181 g/t AgEq (175 g/t Ag, 0.02 g/t Au, 0.06 % Zn, 0.05 % Pb) – hole CRI‑2022‑027.
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Key Historical Intercepts (Panuco)
- 1.25 m @ 1,440 g/t AgEq (1,423 g/t Ag, 0.23 g/t Au).
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1.23 m @ 750 g/t AgEq (723 g/t Ag, 0.36 g/t Au).
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Updated Panuco Resource (May 30 2023)
- Inferred: 3.04 Mt @ 179 g/t AgEq → 17.5 Moz AgEq (South).
- Inferred: 370,000 t @ 255 g/t AgEq → 3.0 Moz AgEq (North).
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Combined (incl. measured & indicated): 3.41 Mt @ 187 g/t AgEq = 20.5 Moz AgEq (19.0 Moz silver, 19,200 oz gold).
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Financing – Private Placement
- Amount: up to C$2.5 million.
- Unit price: C$0.06 per unit (1 common share + 1 warrant).
- Warrant exercise price: C$0.10, exercisable for two years; accelerated if VWAP > C$0.20 for 20 days.
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Hold period: four months; subject to TSX Venture Exchange acceptance; finders’ fees may be paid.
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Community & Infrastructure
- Environmental and social consultancy re‑engaged (MES) to maintain landowner access.
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Road work and drill pad construction completed; final contractor mobilization slated for early Q4 2025.
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Strategic Outlook
- Phase I of a multistage exploration program through 2025, with additional acquisition evaluation targeting high‑grade gold, silver, and copper projects in the region.
Notable Quotes
- “El Cristo has the scale, structure, and signature of a significant system – and we’re going after it,” – Eric Vanderleeuw, CEO.
- “Our updated structural models show compelling opportunities to extend known mineralization,” – Dr. Chris Wilson, Chief Geologist.
Materiality Assessment
Material – Positive – The announcement details a substantial new drilling campaign, significant resource updates, and a financing transaction that together represent material information likely to influence investor decisions.