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Zacatecas Acquires the Advanced Stage and High Grade Oxide Esperanza Gold Project from Alamos Gold Inc. and $19.15 Million Private Placement Proceeds Released from Escrow
Zacatecas Acquires the Advanced Stage and High Grade Oxide Esperanza Gold Project from Al...
About this update from Zacatecas Silver Corp.
[{"type":"text","content":"\n \n \n \n Zacatecas Acquires the Advanced Stage and High Grade Oxide Esperanza Gold Project from Alamos Gold Inc. and $19.15 Million Private Placement Proceeds Released from Escrow\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n April 12, 2022\n \n /CNW/ - Zacatecas Silver Corp. (\"Zacatecas\" or the \"Company\") (TSXV: ZAC) (OTC: ZCTSF) (\n \n Frankfurt\n \n : 7TV) is pleased to announce that it has completed the acquisition of the advanced stage Esperanza Gold Project, located in Morelos State,\n \n Mexico\n \n pursuant to the terms of a share purchase agreement dated\n \n February 28, 2022\n \n (the \"Share Purchase Agreement\") with Minas De Oro Nacional, S.A. De C.V. (\"Minas De Oro\"), a subsidiary of Alamos Gold Inc. (\"Alamos\").  Concurrent with closing of the transaction, the net proceeds under the previously announced\n \n $19.15 million\n \n brokered private placement of subscription receipts (the \"Subscription Receipts\") were released to the Company.\n \n \n \n \n \n \n \n \n \n \n Highlights:\n \n \n \n \n \n Esperanza Gold Project is a high-grade oxide gold deposit with scalable upside.\n \n \n \n \n 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).\n \n \n \n \n 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.\n \n \n \n \n \n Alamos\n \n becomes significant cornerstone shareholder of\n \n Zacatecas\n \n .\n \n \n \n \n Strong balance sheet to fund development activities at Esperanza Gold Project and continue drilling activities at the Zacatecas Silver Property.\n \n \n \n \n The Esperanza Gold Project is an attractive low-cost, low capital intensity, and low technical risk growth project lo...