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Zacatecas Silver announces plans for preparing resource estimate

Published by , Editor
Global Mining Review,

Zacatecas Silver Corp. has accelerated its exploration plans to prepare a current resource estimate for the Panuco Silver Deposit at the Zacatecas Silver property, located in Zacatecas State, Mexico.

Work is now proceeding, targeting resource confirmation of the significant historical inferred silver resource estimate at the company’s Panuco Silver Deposit.

Immediate steps to confirm resource estimate include:

  • Completion of extensive verification of historical drill core.
  • Bench scale metallurgical test for Panuco and El Cristo deposits underway by SGS Minerals.
  • Proven exploration team assembled in Mexico to commence exploration work near Panuco and also on other high priority exploration targets within the large property.

The Panuco Silver Deposit is located in the north of the Zacatecas Property and is the most advanced prospect. Panuco has an historic inferred mineral resource of 19.47 million oz of silver equivalent (Ag Eq.) (cut-off 100 g/t Ag Eq.) from 3.95 million t at 153.2 g/t Ag Eq (136 g/t silver, 0.14 g/t gold, 0.012% lead, 0.11% zinc).

Zacatecas’ exploration team has now completed an extensive verification resampling program of the historical drill core. Re-sampling has been completed on 178 historic sample intervals, being approximately 15% of sample intervals used in the historical resource estimate at Panuco. This data will form the backbone of a remodelled resource estimate. Drill core samples were prepared and assayed by ALS Laboratories (ISO 9001:2008).

To enhance the Historical Estimate at Panuco, Zacatecas has also commenced a bench scale metallurgical test of approximately 100 kg of mineralised drill core material. An integrated test program is being undertaken by SGS Minerals at Lakefield with a specific emphasis on flow-path options for optimised recovery. No metallurgical work was done at Panuco under the historical estimate and instead recovery estimates used in the historical estimate based recovery assumptions on an outdated processing facility in the region that processed material from a different vein system, using gold (52.2%), silver (62.1%), lead (87.9%), and zinc (78.6%). These precious metals recoveries are lower than the recoveries used within various modern resource calculations by other companies in the region. Given the low tenor of precious metal recoveries, there is significant opportunity to strengthen the resource estimate with a modern bench scale metallurgical test.

Dr Chris Wilson, Chief Operating Officer and Director of Zacatecas Silver Corp. comments:

“Our highly experienced exploration field team has efficiently completed an extensive re-sampling program – resulting in the re-assay of 178 historic drill core intervals and dispatch of over 100 kg of drill core for bench scale metallurgical testing. Detailed petrographic and XRD study is also ongoing to better understand the silver and base metal mineralogy – an important input parameter to optimising metallurgical recovery.

In addition to targeting resource confirmation and upgrade through the current re-sampling and metallurgical work, there is also potential to significantly enhance the deposit through drilling. The Panuco deposit is open at depth and along strike. With a deep understanding of the geological structure and mineralisation at Zacatecas, an extensive drill program is designed to expand the resource at Panuco as well as target high-grade silver at El Cristo and other key targets.”

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