SEMARNAT Greenlights Zacatecas Silver’s Drilling Program
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SEMARNAT Greenlights Zacatecas Silver’s Drilling Program

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Paloma Duran By Paloma Duran | Journalist and Industry Analyst - Mon, 03/28/2022 - 12:42

Zacatecas Silver announced that environmental ministry SEMARNAT has gave the company the green light to continue its drilling program at the Panuco deposit. With the program, Zacatecas Silver can now target the full strike length of the Panuco North vein system. In addition, the company reported its exploration plans for other areas in its project, as well as for the recently acquired La Esperanza Gold project.

Panuco is part of a Zacatecas Silver property located in Zacatecas, Mexico, part of the high-potential Fresnillo Silver Belt, which has produced over 6.2 billion oz of Ag historically. The company holds 7826ha of ground with great potential for low and intermediate-sulfidation silver-base metal mineralization and, possibly, low-sulfidation gold-dominant mineralization.

Zacatecas Silver announced that SEMARNAT has approved 27 drilling permits for its Panuco North Vein, with which the company will drill and test the entire northern system. So far, the company has drilled 7,420m at its Panuco deposit, of which 4,707m has been drilled at the North Vein where high-grade silver mineralization has been identified both near the surface and at depth. “The approval of 27 additional drill pads at Panuco North will allow the company to drill test the entire Panuco North vein, which has a strike extent of almost 2km within our concessions. The recently approved drill pads are well positioned to allow fan drilling of multiple holes from each pad, to target both near surface and deeper depth extensions,” said Chris Wilso, COO, Zactecas Silver.

Likewise, the company announced that it has the access agreements and environmental studies required for its drilling program in the El Cristo vein system, for which it has submitted a permit to SEMARNAT to drill 29 pads. The area has historically only been explored by 8-angle diamond drilling, despite containing multiple veins. In addition, the company announced that it has identified more than 20 wells and known historical areas.

Consequently, the company plans to target these areas once SEMARNAT approves the permits. In addition, it is completing environmental studies at Muleros and San Manuel aiming to apply for drilling permits there, too.

Additionally, Zacatecas Silver stressed that the purchase of the Esperanza Gold Project, formerly owned by Alamos Gold, will now be managed by a highly experienced team of mine builders and financiers. Bryan Slusarchuk, CEO, Zacatecas Silver, said the acquisition has taken the company to the next level: “Currently, we maintain ownership of our existing silver projects but will now also have an advanced stage, high-grade, low-cost gold project with a clear path to permits and production. This is among the highest-grade oxide gold development-stage projects in the world of this size. We look forward to working with all stakeholders to advance the project toward production.”

Photo by:   Janik

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