Zacatecas Silver Intercepts High-Grade Silver at Panuco
Zacatecas Silver reported results of multiple silver and gold assays from its drilling program at the Panuco project in Zacatecas. The company said it intercepted high-grade mineralization near the surface. However, the veins remain open at the unexplored depth and along strike.
In a press release, the company reported that its drilling at Panuco North is targeting the down-dip strike extension of surface mineralization. Analysis results from six holes drilled northwest of the vein showed zones of low-grade silver-gold mineralization. In addition, they revealed shallow workings over a strike of 200m to a maximum depth of 60m. The company announced that the vein has not been tested below these measurements.
“The most recent round of drilling in the south-eastern part of the Panuco North Vein has continued to intercept robust silver grades. Mineralization at Panuco North has intercepted silver equivalent grades that are generally higher than the silver equivalent grade of the current Panuco resource estimate. Moreover, mineralization is being intercepted generally over wider widths. This is significant and further outlines the exploration potential of Panuco North,” said Chris Wilson, COO and Director, Zacatecas Silver.
Zacatecas also explained that with the 27 SEMARNAT-approved drilling permits for its Panuco North Vein, it will drill and test for mineralization in the southeast of the vein and complete a drilling program at the central area.
Meanwhile, at the Panuco Central Vein, seven holes were drilled to test the extension of mineralization included in the project's resource estimate. Of the seven holes, the company has received the result of five holes: 2.25m at 185g/t Ag Eq from 120.57m downhole at Hole PAN2022-038, and 0.49m a at 545g/t Ag Eq from 120.57m downhole. Furthermore, the company found 2.30m at 161g/t Ag Eq from 103.44m downhole at PAN2022-040. Zactecas Silver highlighted that these holes were near the surface of the vein, which has never been tested above the resource. Consequently, the company is requesting additional drilling pads to test the surface extent of the entire central vein.
Panuco is part of a Zacatecas Silver property located in Zacatecas, Mexico. This project is part of the high-potential Fresnillo Silver Belt, which has produced over 6.2 billion oz of Ag. 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.