Zacatecas Silver - New IPO
I mentioned in my my last article that there are very few pure silver plays out there. What's even fewer it seems is new IPO's for junior miners especially those that are focused on silver. But just last month that happened with a new company called Zacatecas Silver TSX-V:ZAC and their focus is of course in the Zacatecas area of Mexico.
The property the company owns totals 7826 hectares located within the Fresnillo Silver Belt, which has produced over 6.2 billion ounces of silver. Zacatecas sees a huge potential with this silver project. The Panuco deposit itself has a istorical resource of 19.47 Moz Ag eq. at 100 g/t Ag eq. cut-off from 3.95 Mt at 153 g/t Ag eq. Mineralization open along strike and at depth and the company plans to take it to N 43-101 compliant resource within 90 days.
The Panuco property has an existing 75 holes totaling 23,444 meters drilled by a previous operator. Some of the intercepts from thiese drill holes include 1.79 m grading 0.32 g/t Au, 517 g/t Ag and .5 m grading 1.05 g/t Au, 668 g/t Ag. Mineralization is open at depth and along strike with drill ready targets.
The Panuco property host three vein systems. These three veins are the Muleros Vein System, the El Cristo Vein System and the San Manuel-San Gill.
El Cristo Vein System
Multiple silver-base metal veins representing the NW strike extension of the Veta Grande vein system - the latter with reported historical production of >200 Moz Ag. With 8 historical holes drilled this shows a very robust exploration target.
Muleros Vein System
This vein system has 37 holes totaling 6704 meters drilled by a previous operator. 37 holes (6704 m) drilled by a previous operator. Veins relatively Au-rich. Intercepts include;
2.30 m grading1.56 g/t Au and 286 g/t Ag.
1.5 m grading 1.05 g/tAu, 668 g/t Ag.
San Manuel - San Gill Vein System
This system has multiple quartz-sulphide Ag-base metal veins with strike lengths of between 400 - 1400 meters. It is largely unexplored and has only nine historical drill. One drill hole graded 4.16 meters 1.14 g/t Au, 128 g/t Ag.
At present the company is compiling data from existing drill cores and having samples assayed for verification. According to the company website there is no actual timeline as to when drilling could commence but news could happen anytime.
At present the company has 57,462,715 fully diluted. Major shareholders include Eric Sprott and management holds approximately 35% of the total stock.
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Added note: The author of this article holds postions in the above company at the time of this writing. The author may buy or sell any time going forward.