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Zacatecas Silver Corp. (TSXV: ZAC,OTC:ZCTSF | OTCQB: ZCTSF | FRA: 7TV) ("Zacatecas Silver" or the "Company") is pleased to announce that it has received assay results for 124 rock-chip grab samples taken from waste dumps around 11 shallow historical shafts at El Cristo. Twenty-nine samples assayed above 100 gt silver equivalent ("Ag Eq") with a peak assay of 670 gt Ag Eq.
Highlights of the Sampling Program:
- Eighty samples collected from waste dumps surrounding eight shallow historical shafts from multiple veins along approximately 1.2 km of strike.
- Peak assay of 670 g/t Ag Eq from a sample which assayed 0.06 g/t Au, 659 g/t Ag, 0.011 % Pb and 0.3 % Zn.
- Peak gold assay of 2.41 g/t, peak silver assay of 659 g/t, peak copper assay of 0.058%, multiple lead assays above 1% (lead not assayed for over-range) and peak zinc assay 4.97%.
The shafts are situated along the strike extent of the El Cristo vein system, in close proximity to planned diamond drill locations. Assay results confirm the presence of near-surface silver and base metal mineralization associated with an intermediate sulphidation system. These results should be interpreted in the context of shaft dump sampling, as several shafts only intersected the upper oxidized portions of the veins, and the material present on the dumps was historically considered waste by prior operators.
Despite these limitations, the assay data has provided valuable input for drill targeting by delineating areas where sulphide mineralization occurs near surface. Vein textures and sulphide geochemistry, characterized by gold, silver, lead, zinc, and minor copper, are consistent with the upper levels of silver-dominant, intermediate sulphidation vein systems.
While such systems are typically mineralized over vertical extents of 500 to 800+ metres, the Company's initial drill program will focus on testing shallow depth extensions of the veins.
FIGURE 1 – Map of Rock Chip Samples at El Cristo
Management Commentary
Chief Geologist and Director, Dr. Chris Wilson, commented:
"The results of the dump sampling program have demonstrated high silver and silver equivalent grades from multiple veins over a strike length of approximately 1.5 km. The assay results are especially significant, given rock chip samples were taken from dumps around the shallow historical shafts, and was material considered low grade by the historical miners. Moreover, a number of samples were extensively oxidised and leached."
TABLE 1: Results from Rock Chip Sampling Program at El Cristo
| SAMPLE | Ag Eq (ppm) | Au (ppm) | Ag (ppm) | Cu (%) | Pb (%) | Zn (%) |
| EC-26-01 | 123.90 | 1.17 | 30.80 | 0.03 | 0.18 | 0.12 |
| EC-26-02 | 130.05 | 0.78 | 36.90 | 0.04 | 0.56 | 1.46 |
| EC-26-03 | 83.22 | 0.75 | 22.00 | 0.02 | 0.10 | 0.16 |
| EC-26-04 | 14.34 | 0.11 | 5.83 | 0.00 | 0.01 | 0.01 |
| EC-26-05 | 12.39 | 0.07 | 6.96 | 0.00 | 0.01 | 0.00 |
| EC-26-06 | 69.87 | 0.36 | 12.85 | 0.01 | 0.13 | 1.41 |
| EC-26-07 | 44.85 | 0.33 | 10.35 | 0.00 | 0.04 | 0.45 |
| EC-26-08 | 93.77 | 0.76 | 24.10 | 0.02 | 0.31 | 0.50 |
| EC-26-09 | 43.94 | 0.23 | 10.80 | 0.01 | 0.33 | 0.70 |
| EC-26-10 | 96.25 | 0.51 | 45.60 | 0.04 | 1.00 | 0.33 |
| EC-26-21 | 225.24 | 0.59 | 113.00 | 0.27 | 1.00 | 2.40 |
| EC-26-22 | 26.44 | 0.04 | 6.26 | 0.00 | 0.20 | 0.80 |
| EC-26-23 | 49.43 | 0.12 | 20.20 | 0.01 | 1.00 | 0.81 |
| EC-26-24 | 146.20 | 0.15 | 26.90 | 0.06 | 0.67 | 4.97 |
| EC-26-25 | 50.34 | 0.10 | 19.15 | 0.03 | 0.83 | 0.93 |
| EC-26-26 | 69.40 | 0.11 | 7.87 | 0.02 | 0.19 | 2.51 |
| EC-26-27 | 13.95 | 0.04 | 7.88 | 0.00 | 0.01 | 0.14 |
| EC-26-29 | 17.18 | 0.06 | 9.57 | 0.00 | 0.01 | 0.14 |
| EC-26-31 | 21.24 | 0.05 | 5.67 | 0.01 | 0.05 | 0.55 |
| EC-26-32 | 159.26 | 0.29 | 39.10 | 0.05 | 1.00 | 4.49 |
| EC-26-57 | 32.07 | 0.14 | 17.75 | 0.03 | 0.07 | 0.10 |
| EC-26-58 | 44.82 | 0.12 | 22.90 | 0.01 | 1.00 | 0.45 |
| EC-26-59 | 118.45 | 0.10 | 81.50 | 0.01 | 0.61 | 1.30 |
| EC-26-60 | 57.93 | 0.03 | 18.05 | 0.07 | 1.00 | 1.51 |
| EC-26-61 | 10.41 | 0.05 | 3.72 | 0.01 | 0.01 | 0.12 |
| EC-26-62 | 14.71 | 0.07 | 8.06 | 0.00 | 0.03 | 0.06 |
| EC-26-63 | 103.22 | 0.13 | 85.20 | 0.00 | 0.12 | 0.37 |
| EC-26-64 | 82.23 | 0.14 | 64.50 | 0.01 | 0.16 | 0.30 |
| EC-26-66 | 87.55 | 0.10 | 69.50 | 0.00 | 0.11 | 0.48 |
| EC-26-67 | 30.61 | 0.15 | 15.85 | 0.03 | 0.03 | 0.09 |
| EC-26-69 | 143.73 | 0.17 | 130.00 | 0.01 | 0.07 | 0.01 |
| EC-26-70 | 82.95 | 0.14 | 71.40 | 0.01 | 0.11 | 0.01 |
| EC-26-72 | 150.04 | 0.39 | 119.00 | 0.02 | 0.09 | 0.01 |
| EC-26-73 | 389.06 | 2.41 | 206.00 | 0.01 | 0.05 | 0.01 |
| EC-26-74 | 109.01 | 0.10 | 101.00 | 0.00 | 0.03 | 0.01 |
| EC-26-75 | 264.81 | 0.49 | 226.00 | 0.01 | 0.13 | 0.03 |
| EC-26-76 | 224.63 | 0.10 | 216.00 | 0.01 | 0.08 | 0.01 |
| EC-26-77 | 63.60 | 0.05 | 59.00 | 0.01 | 0.06 | 0.01 |
| EC-26-78 | 140.49 | 0.09 | 133.00 | 0.01 | 0.05 | 0.01 |
| EC-26-79 | 474.68 | 1.32 | 374.00 | 0.01 | 0.07 | 0.01 |
| EM-26-80 | 16.60 | 0.02 | 13.65 | 0.00 | 0.01 | 0.06 |
| EM-26-81 | 83.19 | 0.05 | 77.50 | 0.00 | 0.02 | 0.09 |
| EM-26-83 | 72.63 | 0.09 | 62.30 | 0.00 | 0.04 | 0.16 |
| EM-26-84 | 2.06 | 0.01 | 0.98 | 0.00 | 0.00 | 0.01 |
| EM-26-85 | 2.89 | 0.01 | 1.88 | 0.00 | 0.00 | 0.00 |
| EM-26-86 | 42.58 | 0.04 | 38.60 | 0.00 | 0.02 | 0.04 |
| EM-26-87 | 670.37 | 0.06 | 659.00 | 0.00 | 0.11 | 0.31 |
| EM-26-88 | 149.05 | 0.13 | 132.00 | 0.01 | 0.31 | 0.29 |
| EM-26-89 | 8.21 | 0.00 | 8.08 | 0.00 | 0.00 | 0.00 |
| EM-26-90 | 1.29 | 0.00 | 0.87 | 0.00 | 0.00 | 0.01 |
| EC-26-91 | 13.41 | 0.03 | 2.74 | 0.00 | 0.04 | 0.39 |
| EC-26-92 | 2.71 | 0.02 | 0.71 | 0.00 | 0.00 | 0.02 |
| EC-26-93 | 88.78 | 0.15 | 13.20 | 0.03 | 0.27 | 3.00 |
| EC-26-94 | 3.91 | 0.02 | 1.56 | 0.00 | 0.02 | 0.03 |
| EC-26-95 | 35.66 | 0.10 | 12.00 | 0.02 | 0.10 | 0.72 |
| EC-26-97 | 178.56 | 0.26 | 125.00 | 0.02 | 0.31 | 1.56 |
| EC-26-98 | 104.80 | 0.16 | 18.40 | 0.02 | 1.00 | 3.41 |
| EC-26-99 | 73.98 | 0.14 | 19.70 | 0.01 | 0.33 | 2.05 |
| EC-26-100 | 43.62 | 0.08 | 10.50 | 0.01 | 0.23 | 1.26 |
| EC-26-101 | 125.30 | 0.18 | 51.10 | 0.01 | 1.00 | 2.76 |
| EC-26-102 | 56.90 | 0.01 | 54.80 | 0.01 | 0.02 | 0.05 |
| EC-26-104 | 129.73 | 0.03 | 126.00 | 0.00 | 0.05 | 0.06 |
| EC-26-105 | 159.49 | 0.07 | 151.00 | 0.01 | 0.07 | 0.11 |
| EC-26-106 | 366.80 | 0.02 | 364.00 | 0.00 | 0.04 | 0.04 |
| EC-26-107 | 276.20 | 0.04 | 269.00 | 0.01 | 0.09 | 0.16 |
| EC-26-108 | 249.09 | 0.11 | 237.00 | 0.01 | 0.10 | 0.15 |
| EC-26-109 | 131.79 | 0.02 | 126.00 | 0.01 | 0.06 | 0.19 |
| EC-26-110 | 221.79 | 0.17 | 195.00 | 0.01 | 0.26 | 0.62 |
| EC-26-111 | 48.59 | 0.02 | 45.20 | 0.01 | 0.04 | 0.07 |
| EC-26-112 | 5.22 | 0.03 | 2.61 | 0.00 | 0.00 | 0.01 |
| EC-26-114 | 36.14 | 0.08 | 12.35 | 0.01 | 0.14 | 0.81 |
| EC-26-115 | 60.74 | 0.11 | 8.31 | 0.02 | 0.30 | 2.04 |
| EC-26-116 | 97.81 | 0.22 | 18.60 | 0.02 | 1.00 | 2.83 |
| EC-26-117 | 3.79 | 0.01 | 1.24 | 0.00 | 0.03 | 0.08 |
| EC-26-118 | 65.69 | 0.19 | 20.80 | 0.01 | 0.80 | 1.33 |
| EC-26-119 | 42.22 | 0.07 | 10.15 | 0.02 | 0.38 | 1.20 |
| EC-26-120 | 143.41 | 0.16 | 29.40 | 0.06 | 1.00 | 4.64 |
| EC-26-122 | 13.17 | 0.02 | 3.03 | 0.01 | 0.15 | 0.38 |
| EC-26-123 | 109.61 | 0.27 | 35.30 | 0.02 | 0.43 | 2.50 |
| EC-26-124 | 87.06 | 0.17 | 41.30 | 0.01 | 0.35 | 1.51 |
Assumptions used in USD for the silver equivalent calculation were metal prices of $24/oz silver, $1,800/oz gold, $1.81/lb zinc, $ 0.90/lb lead. Metallurgical recoveries have been estimated to be 85% silver and 90% gold.
El Cristo Drill Program
The company also reports that the initial drill pads have been completed and drilling is expected to commence over the weekend.
Analytical Methods and QA/QC
Rock chip samples were collected and bagged under the supervision of Company personnel following standard industry practices. Samples were submitted to ALS Zacatecas for analysis. Samples were prepared by drying, sieving and pulverizing, and analyzed for Ag and a suite of elements by multi-element ICP methods following four-acid digestion. The Company inserted certified reference materials, blanks and field duplicates into the sample stream to monitor analytical quality.
About Zacatecas Silver Corp.
The Company has two key projects: the Zacatecas Silver Project in Zacatecas State, Mexico, and The Esperanza Gold Project in Morelos State, Mexico.
The Zacatecas Silver Project 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 (19,338 acres) of ground that is highly prospective for low-sulphidation and intermediate-sulphidation silver base metal mineralization and potentially low-sulphidation gold-dominant mineralization. The Company announced an increase in silver resource at the Panuco South and North underground Mineral Resource Estimate now consisting of 3.41 million tonnes at 187 g/t AgEq (173 g/t Ag and 0.18 g/t Au) for 20.5 million ounces AgEq (19.0 million ounces silver and 19.2 thousand ounces gold) (see news release dated May 31, 2023).
The silver property is 25 kilometres (km) southeast of MAG Silver Corp.'s Juanicipio Mine and Fresnillo PLC's Fresnillo Mine. The Property shares common boundaries with former Pan American Silver Corp., now Defiance Silver claims and El Orito, which is owned by Endeavour Silver.
Esperanza is an advanced stage, attractive low-cost, low-capital-intensity and low-technical-risk growth project located in Morelos state, Mexico. Alamos has progressed the project through advanced engineering, including metallurgical work, while also focusing on stakeholder engagement, including building community relations. The Company announced a Mineral Resource Estimate at Esperanza consisting of a Measured and Indicated Mineral Resource Estimate of 30.5 million tonnes at 0.97 g/t AuEq for 956 thousand ounces AuEq and an Inferred Mineral Resource estimate of 8.7 million tonnes at 0.98 g/t AuEq for 277 thousand ounces AuEq (see news release dated November 16, 2022).
Qualified Person
The technical information in this news release has been reviewed and approved by Chris Wilson, B.Sc. (Hons), PhD, FAusIMM (CP), FSEG, FGS, Chief Operating Officer of Zacatecas Silver. Dr. Wilson is a Qualified Person as defined by NI 43-101 and is not independent due being Chief Operating Officer and a director.
On behalf of the Company
Eric Vanderleeuw
Chief Executive Officer and Director
(519) 729 2440
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news 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 respective control. Such factors include, among other things: risks and uncertainties relating to Zacatecas Silver's limited operating history, its proposed exploration and development activities on is Zacatecas Properties and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, Zacatecas Silver does not undertake to publicly update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/23aed895-5e02-4f1f-8dc4-bb5f6b135e56
