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Santacruz Silver Updates Panuco Deposit, Veta Grande Project Resource Estimateto 19.5 Million AgEq Ounces Inferred
Vancouver, British Columbia--(Newsfile Corp. - August 29, 2019) - Santacruz Silver Mining Ltd...
About this update from Santacruz Silver Mining Ltd.
[{"type":"text","content":"Santacruz Silver Updates Panuco Deposit, Veta Grande Project Resource Estimateto 19.5 Million AgEq Ounces InferredVancouver, British Columbia--(Newsfile Corp. - August 29, 2019) - Santacruz Silver Mining Ltd. (TSXV: SCZ) (the \"Company\" or \"Santacruz\") reports that it is today filing on www.SEDAR.com a technical report titled \"Technical Report, Veta Grande Project, Zacatecas State, Mexico\" dated effective August 20, 2019 (the \"Technical Report\") containing an updated mineral resource estimate, under National Instrument 43-101 Standards of Disclosure for Mineral Projects (\"NI 43-101\"). The Technical Report supersedes all previous technical reports prepared for the Company relating to the Veta Grande Project. The Technical Report is being filed in connection with the Company's information circular, which is also being filed today, relating to the Company's annual general meeting (\"AGM\") scheduled for October 1, 2019. The information circular includes disclosure relating to the proposed acquisition from Carlos Silva, the Company's COO, of the remaining 50% shareholding in PCG Mining, S.A. de C.V., a private Mexican company (the \"Silva Acquisition\"), the principal asset of which is a 20% working interest in Santacruz's Veta Grande Project (see press release dated May 22, 2019). At the AGM, shareholders will be asked to approve a resolution authorizing the Silva Acquisition pursuant to the requirements of the TSX Venture Exchange. The Technical Report and the information circular can be viewed on the Company's website at www.santacruzsilver.com or on SEDAR at www.sedar.com. Summary of the Technical ReportLocation, Exploration and DrillingThe Veta Grande Project consists of 184 mining concessions covering an area of 8,944 hectares (22,102 acres) in the Zacatecas Mining District, Mexico. The Veta Grande Project is divided into three concession groups, described as the Veta Grande properties, Minillas property and Zacatecas properties. Although the concession groups are mostly contiguous and have the possibility of sharing the same infrastructure, the nature of Santacruz's initial ownership of each concession group are materially different. For this reason, the Technical Report describes the three groups as individual properties within one project area.Santacruz has collected 472 surface rock samples (channel, chip and grab...