Update On Exploration At The Dewdrop Project

VANCOUVER - Zacapa Resources reported on exploration activities completed and ongoing at its 100% owned Dewdrop project in Nevada. Acquisition of additional claims in Q4 2021 and additional staking have expanded the land position from 48.0 km2 (11,868 acres) to 72.8 km2 (17,988 acres). Mapping and sampling are ongoing and include more than 1,600 soil and rock grab samples collected by Zacapa and previous operators with maximum values of up to 46 g/t Au and up to 4.2 % Cu. 388 line-km ZTEM and magnetic geophysical survey completed and being interpreted in conjunction with observations from mapping. Numerous target areas defined from initial mapping observations and sampling results.

Zacapa acquired and then expanded the Dewdrop project by staking in Q4 2020 based on outcropping albite alteration and copper-gold mineralization near the historic Flyboy copper-uranium mine and the concept of a Yerington-like system tilted on its side with shallow gold mineralization to the west and a porphyry copper target concealed further east. After initial reconnaissance scale mapping, sampling, spectral, and geophysical surveys were completed in Q4 2021 Zacapa expanded its land position through a further acquisition and additional staking to 915 claims over 72.8 km2.

Mapping and sampling continued through the winter and is ongoing, with over 1,200 geochemical samples collected to date, comprised of 690 soil samples and more than 510 rock grab samples. In addition, historical data was acquired as part of the recent acquisition, including 348 soil samples and 127 rock grab and trench samples. Sampling has identified a number of prospective targets with up to 46 g/t Au and 4.2% Cu.

Results of a 388 line-km ZTEM and magnetic geophysical survey show structural complexity and a deep conductivity feature in the east and are in the process of being interpreted in conjunction with incoming geochemical results. Mineralogy was also mapped by hyperspectral remote sensing and is being utilized to aid in mapping. Mapping has been focused on highly prospective target areas at Hacksaw, Io, Flyboy, and Showdown which display copper and gold mineralization and distinctive zones of alteration. The project contains numerous historic workings and broad zones of albite-epidote-chlorite alteration and biotite-magnetite alteration with copper occurrences in veins and along fracture surfaces. Alteration shows similarities to sodic-calcic and potassic alteration documented at other porphyry copper deposits in the Yerington District.  

"Zacapa has consolidated a dominant land position in the prolific Yerington District with encouraging copper and gold anomalies at surface. Our exploration team is working diligently to test the project area extensively and interpret mapping, geochemistry and geophysics data sets to identify the most prospective drill targets," said, CEO and Director, Adam Melnik. "The Yerington District has seen significant interest from major mining companies, including the recently announced earn-in by Rio Tinto into Lion Copper and Gold's Mason valley copper deposits and Hudbay Minerals advancing the Ann Mason copper project it acquired in 2018. Consistent with Zacapa's strategy, the company is executing best in class exploration in well-endowed districts proximal to major mining companies that are investing in exploration, acquiring deposits, and building new mines."