Zacapa Resources Ltd. (TSXV: ZACA | OTCQB: ZACAF | DE: BH0) has provided an update regarding exploration activities and permitting related to its upcoming drill campaign at its wholly owned South Bullfrog gold project in the Beatty District of Nevada.
The company has received analytical results from a Q3 2022 soil sampling campaign at South Bullfrog and subsequently analyzed. The results define an elevated mercury geochemical response northeast of the favourably altered Longtail outcrop (silicified, alunite-bearing, brecciated subcrop surrounded by alluvial cover) and coincident with an interpreted fault bound magnetic low.
Zacapa says that the presence of a robust mercury anomaly at the Longtail target is significant because mercury is an important pathfinder for gold in the Beatty District where it is associated with the upper levels of gold bearing epithermal systems.
The anomaly is also associated with a magnetic low, which is significant because magnetic lows can be the geophysical expression of magnetite destructive hydrothermal alteration. These results add confidence that Zacapa’s soil sampling methods have been successful in detecting mercury through cover and that the observed magnetic low is likely to be related to hydrothermally altered rocks beneath the cover sequence.
Zacapa has also received approval from the US Bureau of Land Management for a recently submitted Notice of Intent for proposed drilling activities in the Shingleback target.
“The geochemical results we received are extremely encouraging. We’ve extended the zone of elevated mercury a minimum of 300m northeast of the Longtail outcrop and demonstrated a new correlation between the geochemistry and the pronounced magnetic low at the Longtail target.” comments Adam Melnik, CEO and Director.
Permitting is underway at Longtail with the requested cultural and biological surveys on track to be completed this week. A response to the Longtail Notice of Intent is expected by mid-February.
“The results add further evidence to support our team’s interpretation that this more than 1km long magnetic low may represent an area of magnetite destructive alteration associated with a significant gold-bearing hydrothermal system concealed beneath shallow cover at Longtail.”
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