Zacatecas Silver Buys Four Exploration Assets from Heliostar

Zacatecas Silver has agreed to acquire four exploration-stage projects from Heliostar Metals in Sonora and Oaxaca, expanding its presence beyond Zacatecas and increasing exposure to gold and silver exploration opportunities in Mexico. The transaction adds a diversified portfolio of epithermal mineral targets across established mining regions, reflecting continued interest in advancing early-stage exploration assets despite a challenging permitting and investment environment for the Mexican mining sector.
 

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Canada-based Zacatecas Silver entered into a definitive option agreement with subsidiaries of Canada-based Heliostar Metals to acquire the Cumaro, La Lola, Oso Negro, and Ejutla exploration projects in Sonora and Oaxaca. The transaction expands the company's exploration portfolio beyond Zacatecas and establishes a presence in two additional mining regions with exposure to gold and silver targets.

The transaction adds four exploration-stage assets to Zacatecas Silver's Mexican portfolio and provides exposure to epithermal gold-silver systems across two mining jurisdictions. Under the agreement, Zacatecas Silver may acquire the projects through total cash payments of US$450,000 and common share issuances valued at US$750,000 over three years.

The payment schedule includes US$150,000 upon execution of the agreement, followed by annual payments of US$100,000 on each of the first, second, and third anniversaries. The share component includes US$300,000 in shares upon signing and US$150,000 in shares on each of the three anniversaries. The total number of shares issued under the agreement is capped at 12.5 million.

Upon exercising the option, Zacatecas Silver will grant Heliostar a 2% net smelter return royalty on the properties. The company may repurchase 50% of the royalty before commercial production through a one-time payment of US$2 million.
Existing royalties remain in place on several concessions. The La Barra concession carries a 1% net smelter royalty with a buyback option of US$500,000. The Edaena concession carries a 1% net smelter return royalty that may be repurchased for US$250,000. The Cumaro concession carries a 1% net smelter return royalty, of which 50% may be repurchased for US$1 million.

"Acquiring this exploration portfolio from Heliostar Metals establishes a strong strategic relationship with a respected and technically capable group, aligning them as an equity partner and reinforcing our long-term growth strategy. Collectively, these properties give us a multi-asset platform capable of generating near-term catalysts while building sustainable long-term value," said Eric Vanderleeuw, CEO and Director, Zacatecas Silver.

Oso Negro Project
The Oso Negro project is located in Sonora and represents an undrilled exploration target within a historic precious-metals district. Historical channel sampling reported by Heliostar returned 5.15g/t Au and 953g/t Ag over 1.2m, 2.55g/t Au and 346g/t Ag over 1.8m, and a grab sample grading 13.3g/t Au and 534g/t Ag.

The property hosts at least four principal veins with average widths of approximately 3m, along with several subsidiary structures, including the El Sahuaro, El Prospecto, Santa Rosa, Del Monte, Tere, and El Manchuri veins. The veins extend for several hundred metres along strike.

According to the company, mineralization is associated with an intermediate sulphidation epithermal system. Historical workings and shallow shafts are present across the property, Zacatecas Silver notes.

Cumaro Project
The Cumaro project covers approximately 5km² in Sonora and is located along strike from Coeur Mining’s El Picacho project. The property hosts extensions of the El Picacho, Dos Amigos, and Basaitegui vein systems. Historical channel sampling returned 11.9g/t Au and 130g/t Ag over 1.65m, 11.5g/t Au and 125g/t Ag over 1.75m, and 10.3g/t Au and 158g/t Ag over 5m.
Heliostar completed an 11-hole diamond drilling program focused primarily on the Verde vein. Zacatecas Silver stated that portions of the property exhibiting alteration and quartz veining remain untested by drilling. The company plans to begin mapping and sampling activities as part of the next phase of exploration.

La Lola Project
The La Lola project consists of nine concessions covering approximately 1,183ha in northern Sonora. The property's main structure is the La Barra vein, a quartz-carbonate-fluorite vein extending approximately 5km and reaching widths of up to 40m in outcrop.

The project is located within a regional mining district that includes Bear Creek Mining’s Mercedes mine, First Majestic Silver’s Santa Elena mine, Coeur Mining’s Las Chispas mine, Silver Tiger Metals’ El Tigre project, and Grupo México’s La Caridad mine.
Zacatecas Silver stated that geological features observed at the surface indicate preservation of a low-sulphidation epithermal system at depth. Historical mining activity on the property focused primarily on fluorite extraction.

Ejutla Project
The Ejutla project covers 10,603ha in Oaxaca within the Taviche-Miahuatlán mineralized region. The property is located approximately 20km east of San José-Trinidad mine, formerly owned by Fortuna Mining, and approximately 25km west of Gold Resource Corporation’s El Aguila mine.

Historical channel sampling returned 0.412g/t Au and 701g/t Ag over 0.6m, 0.013g/t Au and 664g/t Ag over 5m, and 1.26g/t Au and 14g/t Ag over 1.8m. The project hosts multiple structurally controlled vein systems and altered limestone zones. Historical exploration also identified elevated arsenic, antimony, and mercury values. According to the company, these geochemical signatures may indicate the upper portions of low-sulphidation epithermal systems and potential Carlin-style mineralization. Zacatecas Silver identified Ejutla as a priority exploration asset due to its land position, historical exploration results, and limited drilling activity.