Zacatecas Silver Signs Option to Acquire the Lourdes Gold-Silver Project from Guanajuato Silver
Zacatecas adds a low-grade option at its Mexican project while continuing to burn cash.
Zacatecas Silver Corp. has entered into an option agreement to acquire a 100% interest in the Lourdes gold-silver project in Guanajuato, Mexico, from Guanajuato Silver Company Ltd. and Mina Bolanitos. The total consideration for the transaction is US$825,000, payable over two years in cash and common shares, with no minimum exploration expenditure commitments.
The Lourdes project covers 509 hectares and hosts a low sulphidation epithermal vein system. Historical drilling by Minera Hochschild between 2003 and 2004 consisted of only seven shallow holes totaling 1,424m, which returned low grades and poor core recovery of less than 50%. The best historical intercepts included: - 0.7 g/t Au and 82 g/t Ag over 0.4m
Endeavour Silver conducted surface sampling at the site in 2012–2013, returning grab samples up to 39.9 g/t Au and 378 g/t Ag, though these were identified as surface indicators. Planned work involves compiling historical data, confirmation sampling of the El Tigre vein and footwall stockwork, and refining drill targets to test veins below historical drilling depths.
Upon exercise of the option, Zacatecas will grant a 2.0% NSR royalty to Mina Bolanitos, which is 1.0% buyable for US$1M. The project is also subject to an existing 3.0% NSR, with 2.0% buyable for US$2M. The transaction requires TSX Venture Exchange approval.
Zacatecas Silver Corp. (ZAC) has acquired the Lourdes project, an early-stage exploration asset characterized by low costs. The total consideration for the deal is US$825,000, an amount that remains immaterial relative to the company’s approximately $12.7 million market capitalization and current cash balance of roughly $2.0 million CAD.
Historical drilling data from the site is limited, showing shallow depths, low grades, and poor core recovery. Because the geological potential remains largely untested below the surface, the project carries significant exploration risk, and no near-term resource definition is expected.
The transaction does not alter the company’s immediate financial trajectory or operational catalysts. It aligns with the CEO’s stated strategy of building a pipeline of near-term drill targets, serving as an incremental step rather than a transformative event. The royalty structure adds a minor long-term encumbrance but is standard for early-stage options. No finder’s fees or immediate cash outlays beyond the initial US$75,000 are required.
Zacatecas Silver Corp. is a Canadian exploration-stage company focused on precious metals in Mexico. Its flagship assets include the Zacatecas Silver Project, which features the Panuco and El Cristo targets, and the Esperanza Gold Project in Morelos. The Panuco deposit holds an inferred resource of 20.5 moz AgEq (3.41 Mt at 187 g/t AgEq).
The Esperanza project holds a Measured & Indicated resource of 45.4 Mt at 0.79 g/t AuEq (1.15 moz AuEq). The project is optimized for a low-capex heap-leach operation, though development is currently stalled due to Mexican regulatory opposition to open-pit mining.
The company recently acquired a portfolio of four exploration properties (Cumaro, La Lola, Oso Negro, Ejutla) from Heliostar Metals, expanding its Sonora and Oaxaca footprint.