Introduction
Zacatecas Silver Corp. (TSX-V:ZAC, OTC:ZCTSF), a Mexican exploration and development company, is focused on developing the high-grade gold oxide Esperanza project.
With a preliminary feasibility study underway, the company aims to assess the economic viability of an open pit heap leach operation. Zacatecas Silver plans to expand its resource base through exploration of local and regional targets, while also investigating deeper mineralization potential through geophysics. The initial exploration phase will prioritize near-deposit targets, employing geochemical sampling, field magnetic studies, and induced polarization and resistivity surveys.
The company’s principal focus is the Esperanza gold project, located in Merlos State, which was acquired from Alamos Gold Inc for total consideration of US$60 million in April 2022.
Esperanza – high-grade oxide gold
Esperanza is a high-grade gold-silver skarn oxide deposit, with a pit-constrained Measured and Indicated NI 43-101 compliant mineral resource estimate of 941,000 ounces of gold equivalent (Oz AuEq) at an average grade of 0.97 grams per tonne (g/t) and pit-constrained Inferred Mineral Resource Estimate of 248,000 oz AuEq at an average grade of 0.93 g/t AuEq.
Preliminary Feasibility Study (PFS)
Zacatecas Silver has commenced a preliminary feasibility study (PFS) for what is anticipated to be a low-capex and low-opex open pit heap leach operation, as is typical for this style of depots. The PFS is expected to be completed by the end of the year and will give investors the first look at the potential economics of the Esperanza project.
Following the PFS we would expect to see Zacatecas Silver focus on expanding the resource base with additional exploration on several local and more regional targets.
Exploration of Local Targets
Locally, there are five exploration targets that adjoin the deposit along strike to southwest and to the northeast (Figure 1). Two of these targets, Northern Contact and the Silicified Jasperoide Zone have been drilled historically, demonstrating the presence of gold and silver mineralization.
Regional Targets:
More regionally across the 14,337-hectare concession, there are an additional six targets within 15km of the Esperanza Gold Deposit (Figure 2), which with further exploration could provide additional feed sources for an operational gold mine at Esperanza.
-min.png)
Deeper Targets:
In addition to both the local and regional targets, research work completed by the company has suggested that the source of the gold-silver mineralizing fluids may have come from a deeper intrusion. Zacatecas Silver is planning a programme of geophysics to assess these deeper targets.
Initial Exploration Focus
Initial exploration at the project is expected to focus on the near-deposit targets and will consist of a programme of geochemical samplings, field magnetic studies and a program of induced polarization and resistivity surveys.
Conclusion
The PFS will give investors the first glimpse of the potential economics at Esperanza but the projects exploration potential at the local and regional scale, as well as at depth, will give the Zacatecas Silver long-term value as it advances the project towards production.