Zacatecas Silver Announces Appointment of Dr. Luis Chavez-Martinez announced to the Board of Directors
VANCOUVER, BC, May 26, 2022 /PRNewswire/ — Zacatecas Silver Corp. (“Zacatecas Silver” or the “Company”, (TSX Venture: ZAC) (OTC Markets: ZCTSF) (Frankfurt: 7TV) is pleased to announce the nomination of Dr. Luis Chavez to the board of directors of the company.
DR Luis Chávez-Martinez
- Senior Vice President, MexicoAlamos Gold Inc.
- current director of the Mexican Chamber of Mines
- former president of the Mexican Mining Association
- former Director General of Mexican Geological Survey
dr Chavez has over 35 years of experience in the global mining industry. He is Senior Vice President, MexicoAlamos Gold and has served in that capacity since 2015 when he held a similar position Aurico Gold since 2007.
Previously Dr. Chavez was Director of Energy and Mining for the State of Coahuila from 2001 to 2006 and Director General of the Mexican Geological Survey from 1994 to 2000. dr Chavez currently serves on the Board of Directors of the Chamber of Mines and is past President of the Mexican Mining Association (1996).
dr Chavez holds a PhD in Mineral Economics (1982) from the University of Arizonaa Master of Science in Geology (1978). Penn State Universityand a business administration degree (1989) from the Pan-American Business Institute in Monterrey, Mexico.
Bryan Slusarchuk, CEO of Zacatecas Silver states: “We look forward to working with Dr. Chavez on the advancement of the Esperanza Gold Project at an advanced stage State of Morelos toward production and while concurrently conducting exploration and advancement work on the Company’s silver project in Zacatecas State. dr Chavez brings extensive experience and operational success throughout Mexico and has also served industry in non-commercial roles such as B. in his current position as Director of the Chamber of Mines and his past presidency of the Mexican Mining Association. His leadership, oversight and independent role on the Board of Directors will serve the Company and shareholders well.”
dr Chavez has been nominated to the board of directors by Alamos Gold, Zacatecas Silver’s largest shareholder, with the appointment expected at the upcoming annual general meeting July 15, 2022.
About Zacatecas Silver Corp.
Zacatecas is a mineral resource company with the advanced-stage gold-focused Esperanza gold project and the advanced-stage silver-focused Zacatecas property. The Zacatecas Property is located in the State of Zacatecas, Mexico, within the highly prospective Fresnillo Silver Belt which has produced over 6.2 billion ounces of silver. The Company holds 7,826 ha (19,338 acres) of land highly prospective for low- and intermediate-sulphidation silver-base metal mineralization and possible low-sulphidation, gold-dominated mineralization. On December 15, 2021Zacatecas Silver announced a mineral resource estimate for the Panuco deposit consisting of 2.7 million tonnes grading 187 g/t AgEq (171 g/t Ag and 0.17 g/t Au) for 16.4 Moz AgEq (15 Moz silver and 15,000 ounces) consists of gold) (see Company press release dated December 15, 2021).
The Zacatecas property is located 25 km southeast of MAG Silver Corp.’s Juanicipio mine. and Fresnillo PLC’s Fresnillo Mine. The Zacatecas Property shares common boundaries with Pan American Silver Corp.’s claims. and El Orito, the Endeavor Silver Corp. heard. There are four high-grade silver prospects within the Zacatecas property: the Panuco, Muleros, El Cristo and San Manuel-San Gill deposits. The Zacatecas property also includes El OroEl Orito, La CanteraMonserrat, El Penón, San Judas and San Juan Silver base metal vein targets and such targets are relatively unexplored and will be the focus of rapid exploration.
The advanced stage Esperanza Gold Project, covering 14,337.83 hectares, is located in Morelos State, Mexico. Significant core and reverse circulation drilling has been completed to date at the Esperanza Gold Project resulting in a total of 389 drill holes for 69,716 metres.
Alamos Gold Inc. reported in its most recent Annual Information Form a resource estimate of a measured and indicated resource of 34,352,000 tonnes grading 0.98 g/t gold and 8.09 g/t silver for 1,083,366 ounces of gold and 8,936,201 ounces of silver an inferred resource of 718,000 tonnes grading 0.80 g/t gold and 15.04 g/t silver for 18,375 ounces of gold and 347,192 ounces of silver. The Company considers this a historical resource as defined by National Instrument 43-101. Resource blocks have been defined with dimensions of 10 meters (m) by 10 meters by five meters. Estimation of grades was performed using standard kriging on clipped composites. An additional step in the estimation strategy was the use of the dynamic anisotropy technique in Vulcan’s unfolding options. This additional capability allows for a more realistic result of the spatial distribution of the estimated grade as it follows the folded shape of the deposit. The assumptions used on the resource include the following metal prices: gold price of $1,400 (US) per ounce (oz) and silver price of $22 (US) per ounce. The following economic assumptions were used for the resource: recoveries from 60.4 percent at 0.2 g/t to 71.9 percent at 1.6 g/t for gold, 25 percent for silver, $2.60 per tonne mining costs, 64 cents per general and administrative costs, $4.20 per tonne grinding costs and a 45 degree pit incline. The Company considers the resource relevant based on its identification and modeling of the Esperanza deposit.
The Company has not done sufficient work to classify the resource as a current mineral resource or mineral reserve and the Company is not treating the historical estimate as a current mineral resource or mineral reserve. Although the resource estimate is believed to be reliable, the Company will resample a portion of the drill core in order to complete a new resource estimate. In addition, additional data review including re-logging of selected diamond drill hole collars; reviewing graphical drill core logs, comparing these logs to remaining half-cut core and cross-checking selected geological log entries in the agonist database; and a reconciliation of the original Certificates of Analysis with the assay and well database.
In the name of the company
Chief Executive Officer and Director
The content of this press release has been reviewed and approved by Chris Wilson, B.Sc. (Hons), PhD, FAusIMM (CP), FSEG, Chief Operating Officer of Zacatecas Silver. dr Wilson is a Qualified Person as defined by National Instrument 43-101 – Disclosure Standards for Mineral Projects and is responsible for all technical information in this press release.
The information contained in this press release contains forward-looking statements that are based on assumptions as of the date of this press 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 control. These factors include, among others: risks and uncertainties related to Zacatecas Silver’s limited operating history, proposed exploration and development activities on its properties and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results could differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required by applicable securities laws, Zacatecas Silver undertakes no obligation to publicly update or revise any forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Exchange’s policies) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Zacatecas Silver Corp.