The Prospector News

Zacatecas Silver Closes $2.5 Million Financing

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Zacatecas Silver Closes $2.5 Million Financing






Zacatecas Silver Corp. (TSX-V:ZAC) (OTC:ZCTSF) FRA:7TV) announces that due to strong interest it has closed its previously announced private placement financing (see news releases dated January 29, 2024 and February 5, 2024) by issuing 25,000,000 units at a price of $0.10 per Unit for total proceeds of $2,500,000.


Each Unit consists of one common share and one-half of one common share purchase warrant. Each Warrant will entitle the holder to purchase a Common Share at an exercise price of $0.15 for a period of two years from the date of issue.


The securities under the Offering will be subject to restrictions on resale expiring on June 14, 2024. The Company paid registered finders a fee in cash of $55,037.50 as well as issuing 315,000 common shares and 865,375 non-transferable share purchase warrants. The Company intends to use the net proceeds to satisfy ongoing costs associated with its properties as well as general working capital purposes.


The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.


Qualified Person


The contents of this news release have been reviewed and approved by Chris Wilson, B.Sc. (Hons), PhD, FAusIMM (CP), FSEG, FGS, Chief Operating Officer of Zacatecas Silver. Dr. Wilson is Qualified Persons as defined by NI 43-101.


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.


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 initially 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). On May 31, 2023, the Company announced an updated inferred mineral resource estimate of 3.41 million tonnes at 187 g/t AgEq (173 g/t Ag and 0.18 g/t Au) for 20.5 million ounces AgEq (19.0 million ounces silver and 19.2 thousand ounces gold) (see news release dated May 31, 2023).


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.


Esperanza is an advanced stage, attractive low-cost, low-capital-intensity and low-technical-risk growth project located in Morelos state, Mexico.  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).


Posted February 14, 2024

Share this news article



Silver Viper Minerals Corp. (TSX-V: VIPR) (OTC: VIPRF) is please... READ MORE

April 13, 2024

NioCorp Announces Closing of Financing Agreement

NioCorp Developments Ltd. (Nasdaq: NB) (TSX: NB) announced that i... READ MORE

April 12, 2024

Kuya Silver Announces Closing of Second and Final Tranche of Strategic Investment by Trafigura

Kuya Silver Corporation (CSE: KUYA) (OTCQB: KUYAF) (FSE: 6MR1) is... READ MORE

April 12, 2024

Steppe Gold Enters Into Share Exchange Agreement to Acquire Boroo Gold and Agrees to Sell the Tres Cruces Oxide Project

Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) is pleased to ann... READ MORE

April 12, 2024


Vizsla Copper Corp. (TSX-V: VCU) (OTCQB: VCUFF) (FRANKFURT: 97E0) is pleased to... READ MORE

April 12, 2024

Copyright 2024 The Prospector News