Highlights:
- Updated silver Inferred Mineral Resource now consists of:
- Panuco South Deposit Inferred Mineral Resource of 3.04 million tonnes at 179 g/t AgEq for 17.5 million ounces AgEq.
- Panuco North Deposit Inferred Mineral Resource of 0.37 million tonnes at 255 g/t AgEq for 3.0 million ounces AgEq
- Silver Inferred Mineral Resources have increased by 25% compared to previous MRE completed in
December 2021 . Zacatecas plans to restart drilling at El Cristo vein system with a goal of increasing silver resources at theZacatecas Properties .
Dr.
The Panuco South and North underground Mineral Resource Estimate now consists of 3.41 million tonnes at 187 g/t AgEq (173 g/t Ag and 0.18 g/t Au) for 20.5 million ounces AgEq (19.0 million ounces silver and 19.2 thousand ounces gold) that is comprised of the following:
Table 1: Panuco South and North Underground Inferred Mineral Resource Estimate Summary (1-8)
Resource Area | Tonnes (Mt) | Ag (g/t) | Au (g/t) | Ag (Moz) | Au (koz) | AgEq (g/t) | AgEq (Moz) |
Panuco South | 3.04 | 236 | 0.24 | 2.8 | 2.7 | 255 | 3.0 |
Panuco North | 0.37 | 166 | 0.17 | 16.2 | 16.4 | 179 | 17.5 |
Total | 3.41 | 173 | 0.18 | 19.0 | 19.2 | 187 | 20.5 |
Notes: | ||
(1) | Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. | |
(2) | The estimate of Mineral Resources may be materially affected by environmental permitting, legal title, taxation, socio-political, marketing or other relevant issues. | |
(3) | Resources are classified according to | |
(4) | The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration. | |
(5) | Silver equivalent Mineral Resources for the Panuco South and North Deposits were calculated using the following metal prices: Ag at US | |
(6) | Metallurgical recoveries have been estimated to be 85% silver and 90% gold. | |
(7) | The underground Mineral Resource Estimate uses a cut-off of 120 g/t AgEq, based on US$/tonne costs of | |
(8) | AgEq = Ag g/t + (Au g/t x 80) | |
Mineral Resource Estimate Assumptions
The Mineral Resource Estimate was generated using inverse distance cubed for gold and silver for grade interpolation within a 3-D block model, constrained by mineralized zones defined by wireframes solid models. The bulk density value of 2.8 t/m3 used in the Mineral Resource Estimate were derived from a regression equation based on data measured from samples collected from re-assayed drill core completed by
The database for the Mineral Resource Estimate consisted of 138 drill holes totalling 30,684 m, and 183 trenches totalling 4,540 m, of which a total of 108 drill holes totalling 22,467 m and 113 trenches totalling 3,000 m intersected the mineralization wireframes used for the Mineral Resource Estimate. The drill hole database contained assays for silver and gold as well as other metals of no economic importance. Zacatacas Silver’s seasoned exploration team carried out extensive data verification on the historical database by re-sampling 178 historical sample intervals, which added to the 243 new mineralized samples making a total of approximately 50% verified constrained sample intervals in the Mineral Resource Estimate.
Qualified Person
The contents of this news release have been reviewed and approved by
About
The Company has two key projects.
Esperanza is an advanced stage, attractive low-cost, low-capital-intensity and low-technical-risk growth project located in Morelos state, Mexico. Alamos has progressed the project through advanced engineering, including metallurgical work, while also focusing on stakeholder engagement, including building community relations. The Company announced a Mineral Resource Estimate at Esperanza consisting of a Measured and Indicated Mineral Resource Estimate of 30.5 million tonnes at 0.97 g/t AuEq for 956 thousand ounces AuEq and an Inferred Mineral Resource estimate of 8.7 million tonnes at 0.98 g/t AuEq for 277 thousand ounces AuEq (see news release dated
The Property is 25 kilometres (km) southeast of MAG Silver Corp.'s
On behalf of the Company
Chief Executive Officer and Director
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance.
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