VANCOUVER, BC, Feb. 14,
2023 /CNW/ - Zacatecas Silver Corp. ( the "Company")
(TSXV: ZAC) (OTC Markets: ZCTSF) (Frankfurt: 7TV) is pleased to report that
Esperanza Silver de Mexico, S.A.
de C.V., a subsidiary of the Company, has entered into a
strategic alliance with the Tetlama community for the ongoing development
of the Esperanza Gold Project, which is located within Tetlama.
After an extensive consultation and planning process,
Tetlama and the Company held a
formal meeting with the President and the committee members of the
Comisariado de Bienes Comunales and the land owners whereby the
parties entered into a strategic alliance for the ongoing
development of the Esperanza Gold Project.
As part of the strategic alliance, the Tetlama community confirmed that the
extraction of minerals is a strategic activity to further the
development of the Tetlama
community. Accordingly, each of the Company and the
Tetlama community are firmly
committed to develop the Esperanza Gold Project for the benefit of
all stakeholders.
The project, during development and during production, will
provide significant economic opportunities for Tetlama and surrounding areas. The project
will create important employment and business opportunities while
also creating a strong source of tax revenue for multiple levels of
government. Additional to these economic benefits, there will be
more broadly based stakeholder benefits via a focus on environment,
education, health and community and initiatives relating to these
core issues within Tetlama.
Esperanza Silver de Mexico S.A. de C.V., General Manager, Jos
Hantelmann states, "There are many stakeholders in a mining
project but none are more important than the local community within
which a project resides. The Esperanza Gold Project is located
within the Tetlama community and
forming this strategic alliance establishing Tetlama's support to advance the development
of this project is an incredibly important milestone."
Previously, the Company's subsidiary, Esperanza Silver de
Mexico, S.A. de C.V., and the
Tetlama Community entered into a
temporary occupancy agreement, which formed the basis for a strong
relationship between the parties. The Company is focused on
creating economic opportunity for all stakeholders within the local
community while operating in accordance with best practices related
to ESG standards.
The different projects of these three axes of community
relations previously undertaken include a medical support program;
scholarship programs for middle and high school students; backyard
garden program; support in the conditioning and repair of
infrastructure of drinking water supply facilities; visual and
dental health campaigns; support for the community forest fire
fighting brigade; training and development program for community
entrepreneurs; support for community celebrations and cultural
events; support for improvement of school infrastructure. During
the hardest stage of COVID, the community was supported with
sanitary material and equipment and food pantries.
As the Esperanza Gold Project continues to move forward within
Tetlama (where 100% of the deposit
and key infrastructure is located), the Company will broaden its
social and community programs to include other communities in the
region that are located outside of the Esperanza Gold Project.
Qualified Person
The contents of this news release have been reviewed and
approved by Chris Wilson, B.Sc.
(Hons), PhD, FAusIMM (CP), FSEG, Chief Operating Officer of
Zacatecas. Dr. Wilson is a Qualified Person as defined by NI
43-101 and is responsible for all technical information in
this news release.
About Zacatecas Silver
Corp.
The Company has two key projects. The Esperanza Gold Project in
Morelos State, Mexico and the
Zacatecas Silver Project in Zacatecas State, Mexico.
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 November 16, 2022).
The Zacatecas Silver Project is located in Zacatecas state, Mexico, within the highly prospective
Fresnillo silver belt, which has
produced over 6.2 billion ounces of silver. The Company holds 7,826
hectares (19,338 acres) of ground that is highly prospective for
low-sulphidation and intermediate-sulphidation silver base metal
mineralization and potentially low-sulphidation gold-dominant
mineralization. The Company announced a Mineral Resource Estimate
at the Panuco Deposit consisting of 2.7 million tonnes at 187 grams
per tonne (g/t) silver equivalent (AgEq) (171 g/t silver (Ag) and
0.17 g/t gold (Au)) for 16.4 million ounces AgEq (15 million ounces
silver and 15,000 ounces gold) (see news release dated December 14, 2021).
The property is 25 kilometres (km) southeast of MAG Silver
Corp.'s Juanicipio Mine and Fresnillo
PLC's Fresnillo Mine. The Property shares common
boundaries with Pan American Silver Corp. claims and El Orito,
which is owned by Endeavour Silver.
On behalf of the Company
Bryan Slusarchuk
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. Zacatecas cautions that all forward looking
statements are inherently uncertain and that actual performance may
be affected by many material factors, many of which are beyond
their respective control. Such factors include, among other things:
risks and uncertainties relating to Zacatecas' limited operating history, its
proposed exploration and development activities on its Esperanza
Gold Project and Zacatecas Silver Project and the need to comply
with environmental and governmental regulations. Accordingly,
actual and future events, conditions and results may differ
materially from the estimates, beliefs, intentions and expectations
expressed or implied in the forward-looking information. A
Pre-Feasibility Study has commenced for the Esperanza Gold Project
which will provide further information as to economic projections
and assumptions related to the project, however there are currently
no assurances that the project will be economically viable nor
assurances that necessary financing, permitting, and metal prices
will exist to enable development. Except as required under
applicable securities legislation, Zacatecas does not undertake to publicly
update or revise forward-looking information.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
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SOURCE Zacatecas Silver Corp.