Exploration Update On The Pearl Porphyry Copper Exploration Project

  VANCOUVER - Zacapa Resources reported on exploration activities at the Pearl porphyry copper project in Arizona. The Company has identified a window of porphyry copper prospective Laramide-age igneous rocks situated immediately north of San Manuel-Kalamazoo and completed a systematic campaign of geochemical and geophysical surveys across the property to identify and advance the most prospective targets to the drill testing phase.

Geologic mapping at Pearl demonstrates propylitic alteration and a fault architecture similar to the San Manuel-Kalamazoo deposit. Previously unknown Laramide age porphyry dikes identified by Zacapa (U/Pb geochronology) overlap with the age of the adjacent 1,390 Mt San Manuel-Kalamazoo porphyry copper deposit. Initial geochemical and geophysical surveys revealed multiple anomalies for follow-up, including two large, copper-in-soil anomalies with up to 1415 ppm Cu. Numerous, previously undocumented, historic mine workings identified during field mapping with mineralized rock samples containing up to 7.3% Cu, 0.43% Mo, 19.9% Pb, 4.9% Zn, 360 g/t Ag, and 1.8 g/t Au.

"The presence of copper mineralization at surface and prospective Laramide age intrusions on the Pearl property represent a significant step forward for the project. The Pearl project contains favorable host rocks in a newly identified window of Laramide igneous activity only one kilometer from BHP's 1.39 billion tonne San Manuel-Kalamazoo porphyry copper deposit," said Adam Melnik, CEO and Director. "Zacapa's technical teams are actively progressing the project toward drill testing, which will be an important step towards unlocking latent value from within Zacapa's portfolio."

Since acquiring the Pearl project by claim staking in 2021, Zacapa has initiated exploration by completing reconnaissance scale mapping, sampling, and geophysical surveys. A 346 line-km Z-axis Tipper Electromagnetic (ZTEM) and aeromagnetic geophysical survey (200-meter line spacing) was conducted in June 2021, followed by initial mapping and rock/soil sampling in December 2021. Geological mapping of the property revealed a fault-bound inlier of Proterozoic and Cretaceous igneous rocks surrounded to the east and west by post-mineralization volcanic and sedimentary cover rocks. The same post-mineral faults displace the western (Kalamazoo) half of the San Manuel-Kalamazoo orebody concealing it beneath younger post-mineral cover.