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New Listing: Zacapa Resources (TSXV:ZACA)

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Zacapa Resources is engaged in the acquisition of copper and gold properties, with a number of properties in Nevada, Idaho, Arizona and Colorado.

Additional Information:

Company: Zacapa Resources
Website: http://www.ZacapaResources.com
Stock Symbol: TSXV: ZACA
Date Published: Jan 28, 2022
Transcript: Available

Video Transcript:

I’m Katriina Cotton for Investmentpitch Media

Zacapa Resources is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “ZACA”, following its initial public offering.

The company raised gross proceeds of $830,000 from the placement of 1,660,000 shares priced at $0.50 per share.

The shares are trading at $0.50.

The company is engaged in the acquisition of copper and gold properties, with a number of properties in Nevada, Idaho, Arizona and Colorado.

The company just reported the results of Hole RT-21-001, the first hole drilled at its 100% owned Red Top porphyry copper project in the Superior Mining District in Arizona.

Drill hole RT21-001 was designed to test for porphyry copper mineralization beneath a large, greater than 3.5 kilometre by 1.5 kilometer outcropping zone of quartz-sericite-pyrite alteration with a core of advanced argillic alteration.

The hole encountered hydrothermal alteration and veining from surface to end of hole at 1,042 meters, including numerous intervals containing visible sphalerite, galena, chalcopyrite, bornite, and locally molybdenite.

The original planned depth for the hole was 800 metres, but it was continued to 1,042 metres, based on recurring copper mineralization in the drill core.

The average vein volume over the full 1042 metres drilled is visually estimated at 2.5%, with assays expected in the coming weeks.

Drill hole RT-22-002 has commenced, collared 500 metres east-southeast of RT-21-001, to expand the technical team's understanding of alteration and mineral zonation within the newly identified hydrothermal system and assist in vectoring toward the associated porphyry center.

Adam Melnik, CEO, stated: "The alteration and mineralization observed in RT-21-001 is consistent with the alteration footprint of a porphyry copper intrusive center and suggests that we have drilled the periphery of a new porphyry copper system only 8 kilometers from Rio Tinto/BHP's Resolution Copper-Molybdenum Deposit. The presence of chalcopyrite and bornite in the distal porphyry copper environment indicates that the core of the system has potential for high-grade copper sulphide mineralization."

The company is fully funded for an exploration program including 10,000 meters of drilling across 5 copper and gold projects.

For more information on the company’s numerous properties, please visit the company’s website www.ZacapaResources.com contact Adam Melnik, CEO, at 604-227-5987 or email melnik@ZacapaResources.com.

I’m Katriina Cotten for Investmentpitch Media