Mexico’s Next Major Silver Player
It’s the 1700s, the dust has settled and the Zacatecas area has been alive and well for over 100 years. However, it wasn’t until a man named Juan de Tolosa met with some of the local prospectors in the area that we discovered the mineral wealth within Zacatecas. Tolosa was taken to some nearby mineral outcroppings, to his surprise silver was identified. Excited, a mining establishment was very quickly established. Right place, right time…
For prospectors, entrepreneurs, and laborers the dream of quick wealth was at Zacatecas, and the economy started to flourish in reflection. By the mid 1700s, Zacetecas now accounted for 25% of all silver produced in Mexico, the world's largest silver producer. By the 1800s, Mexico produced and exported over 67% of silver in the Americas, and Zacatecas ranked #3 amongst its mining districts.
To this day, Zacatecas has remained one of the best silver areas in the world and now accounts for 21 percent of Mexico’s gold production and 53.2 percent of its silver. The state has two of the largest silver mines in the world, making Mexico the world’s largest producer of silver, with 17 percent of global output.
A New Company On The Block With A Fierce Leader
After coming off a huge win with K-92 Mining (now a $1.84B market cap), that company’s co-founder and former President Bryan Slusarchuk was shown more deal flow than ever before. Instead of taking his winnings, Slusarchuk was hungry for more and never kept his foot off the gas.
As he did with K-92 mining, Slusarchuk hunted out for a project that he could quickly build an empire upon. To his fortune, a project company that knew Slusarchuk and his team well had multiple projects in one of the world's greatest mining districts. With an incredibly bullish outlook on silver, Sluaschuk acquired the land holdings with his team and formed Zacatacas Silver.
The properties include the Panuco Deposit, which has an inferred mineral resource of 16.4 million silver equivalent ounces at 187 g/t AgEq from 2.7 million tonnes including a zone of 5.1 million silver equivalent ounces at 235 g/t AgEq with significant resource expansion potential and high-grade silver exploration upside (see news release for December 14th, 2021 for full details of the inferred resource estimate). Mineralization at the Panuco Deposit remains open along strike and down dip.
Zacatecas Silver Corp has four projects involved in this area with rich history:
Panuco project: Hosting the inferred resource estimate and now recently complimented by a new high grade silver discovery at Panuco North, to the north of the main resource area.
El Cristo project: Only 8 historical holes drilled. 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.
Muleros project: 37 holes (6704 m) drilled by a previous operator. Although a few deep holes were drilled — overall the historic drill program was designed to test the upper 100 m of the vein. The depth potential is untested.
San Gill project: this project has large areas of shallow cover that could potentially cover vein extension. Furthermore, three holes are drilled in this area, with assays pending.
Zacatecas has previously announced it would acquire the Esperanza Project from Alamos Gold Inc. and intends to lead this new project towards production.
Recently, the company led a $15M private placement. Because of the high interest in the company, the executive board upsized it to $19.15M and closed on March 22nd via the issuance of approximately 17.4m subscription receipts. With a portion of this capital, they plan to move the Esperanza Gold Project towards production.
To date at the Esperanza Gold Project, significant core and reverse circulation drilling has occurred and resulted in a total of 389 drill holes for 69,716 meters. Four targets adjacent to or close to the historical resource were identified to expand the historical resource. The project also hosts seven regional exploration targets, largely untested, that also merit drill testing.
“We appreciate the strong support from the syndicate of agents on this transaction and the buy-side participants, which include outstanding institutional and individual specialist investors in the metals space. We look forward to moving the advanced stage and high-grade Esperanza Gold Project towards production while also continuing our ongoing drill program at the Zacatecas Silver Project, where we are currently drilling to follow up on the recent high grade silver discovery at Panuco North.”
Bryan Slusarchuk (CEO)
Look for Zacatecas Silver under the symbol “ZAC” on the TSX Venture Exchange.
You can check out Zacatecas Silver at their website https://zacatecassilver.com/.
Thank you for reading this article from TSX Penny Stocks. If you’d like, we’d appreciate your support by subscribing to our newsletter.
The article is for informational purposes only and is neither a solicitation for the purchase of securities nor an offer of securities. The author of this writer has been compensated for creating this article by Zacatecas Silver or they are a current shareholder. Readers of the article are expressly cautioned to seek the advice of a registered investment advisor and other professional advisors, as applicable, regarding the appropriateness of investing in any securities or any investment strategies, including those discussed above. Zacatecas Silver. is a high-risk venture stock and not suitable for most investors. Consult Zacatecas Silver SEDAR profiles for important risk disclosures.