Zacapa Resources Ltd ZACAF

Zacapa Resources Ltd. is a Canada-based mineral exploration company. The Company holds a portfolio of porphyry copper and epithermal gold projects in the states of Nevada, Arizona and Idaho, United States. The Company’s Red Top project is located in the Superior Mining District, approximately eight kilometers (km) northwest of the Resolution development project. Its Pearl project is located immediately northwest of the past-producing San Manuel porphyry copper mine (BHP) and consists of 241 lode mining claims. Its Tomichi project is located near the southwestern end of the Sawatch Range in the Tomichi Mining District of Gunnison County, Colorado. It consists of 114 unpatented lode mining claims with a total area of approximately 9.5 square kilometers. Its Bullfrog South Project is located in the Walker Lane trend of western Nevada in an increasingly active Bullfrog gold district near Beatty. Its Miller Mountain project is located in west-central Idaho.

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Post by yukon_goldon Feb 22, 2022 8:34pm

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Post# 34452297

Zacapa More Than Doubles Land Position Following Discovery

Zacapa Resources More Than Doubles Land Position Following Discovery of Porphyry Mineralization at Red Top in Arizona

February 22, 2022

Zacapa Resources (TSXV: ZACA, DE: BH0) announces that it has staked an additional 239 mining claims (approximately 19.4 km²) at the 100% owned Red Top project following the discovery of porphyry-style mineralization with the inaugural drill hole on the property. The new staking more than doubles the land position of the Red Top project north of Superior, Arizona (Figure 1). Drill hole RT-21-001 was completed in January to a depth of 1,042 meters encountering extensive porphyry-style alteration and mineralization (see news release “Zacapa Resources Identifies New Porphyry Mineralization with First Drill Hole at Red Top in Arizona,” dated January 26, 2022).

“The remarkable success of our early drilling at the Red Top porphyry copper project has generated considerable interest and our team acted quickly to secure additional prospective ground in the area,” comments CEO & Director Adam Melnik. “Our land position provides ample room for our current and future exploration plans and the major mining companies exploring next door are a testament to the highly prospective ground in this part of the Superior Mining District.”

The Red Top porphyry copper project now includes 431 claims over an area of 33.9 km² with drilling underway on drill hole RT-22-003.

Figure 1 – Location map of the Red Top project displaying Zacapa’s expanded land position, which was increased 134% to 33.9 km² through new staking

About the Red Top Porphyry Copper Project

The Red Top porphyry copper project is located in the Superior Mining District, 8 kilometres northwest of Rio Tinto and BHP’s Resolution mine development project and approximately 11 kilometres from the Carlota and Pinto Valley mining operations (Figure 2). Red Top is comprised of 431 unpatented mining claims covering 8,377 acres. The Red Top project area exhibits widespread porphyry-style alteration over an area of more than 3.5 by 1.5 kilometres with locally intense alteration near Red Top hill. These quartz-sericite altered areas, as well as intensely altered zones of pyrophyllite and illite are analogous to assemblages associated with mineralization at the upper levels of the Resolution deposit^1,2,3. The alteration and mineralization at Red Top are interpreted as the expression of the upper levels of a now moderately tilted porphyry system that has only seen limited historical exploration and no previous drilling within the target area. Red Top will continue to be drill tested in 2022.

Figure 2 – Location map of the Red Top project displaying Zacapa’s enhanced land position relative to regional porphyry copper mines and development projects in the Superior Mining District^1,3,4,5,6

About Zacapa Resources

Zacapa is a copper and gold focused mineral exploration company engaged in responsible exploration for the new energy economy. Its projects are concentrated in world class jurisdictions in the southwest U.S., including Arizona, Nevada, and Idaho. The portfolio includes porphyry copper projects at Red Top, Pearl, and Dewdrop Moon, and epithermal gold projects at South Bullfrog and Miller Mountain. These assets are being advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development and mine permitting.

References
¹ References to other mines and deposits made in this news release provide context for the Red Top Project, which occurs in a similar geologic setting, but this is not necessarily indicative that Red Top hosts similar grades and tonnages of mineralization.
² Manske, S.L., and Paul, A.H., 2002, Geology of a major new porphyry copper center in the Superior (Pioneer) district, Arizona: Economic Geology, v. 97, no. 2, p. 197-220.
³ Rio Tinto, 2020, Annual Report
⁴ Paul, A.H., and Manske, S.L., 2005, History of exploration at the magma Mine, Superior, Arizona, in Rhoden, H.N., Steininger, R.C., and Vikre, P.G., eds., Geological Society of Nevada Symposium 2005: Window to the World, Reno, Nevada, p. 629-638.
⁵ Singer, D.A., Berger, V.I., and Moring, B.C., 2008, Porphyry copper deposits of the world: database and grade and tonnage models, 2008: U.S. Geological Survey, Open-file report 2008-1155.
⁶ Dicken, C.L., Dunlap, P., Parks, H.L., Hammarstrom, J.M., and Zientek, M.L., 2016, Spatial database for a global assessment of undiscovered copper resources: U.S. Geological Survey Scientific Investigations Report 2010–5090–Z, 29 p., and GIS data.

For more information, please visit www.zacaparesources.com. All documents are available on Zacapa’s profile page on SEDAR at www.sedar.com.

On behalf of the Board of Directors,

“Adam Melnik”