Zacatecas Silver to Acquire Gold Esperanza Project VANCOUVER, BC, Feb. 28, 2022 /PRNewswire/ - Zacatecas Silver Corp. ("Zacatecas Silver" or the "Company"), (TSX Venture: ZAC) (OTC Markets: ZCTSF) (Frankfurt: 7TV) is pleased to announce that it has entered into a share purchase agreement dated February 28, 2022 (the "Share Purchase Agreement") with Minas De Oro Nacional, S.A. De C.V. ("Minas De Oro"), a subsidiary of Alamos Gold Inc. ("Alamos"), to acquire the advanced stage Esperanza Gold Project, located in Morelos State, Mexico (the "Transaction").
Highlights:
- Esperanza Gold Project is a high-grade oxide gold deposit with scalable upside.
- Historic measured and indicated resource of 34,352,000 tonnes at 0.98 g/t gold and 8.09 g/t silver for 1,084,000 ounces of gold and 8,936,000 ounces of silver and inferred resource of 718,000 tonnes at 0.80 g/t gold and 15.04 g/t silver for 18,000 ounces of gold and 347,000 ounces of silver (see below for details).
- Priority to prepare an updated resource estimate in 2022 and complete a current economic study on the Esperanza Gold Project based on the updated resource estimate.
- To date, significant core and reverse circulation drilling has occurred at the Esperanza Gold Project resulting in a total of 389 drill holes for 69,716 metres of drilling.
- Alamos becomes significant cornerstone shareholder of Zacatecas Silver.
https://www.prnewswire.com/news-releases/zacatecas-silver-to-acquire-the-advanced-stage-and-high-grade-oxide-gold-esperanza-project-from-alamos-gold-inc-301491798.html