Zacatecas Silver
Zacatecas Silver Corp. is a Canada-domiciled, Mexico-focused mineral exploration company advancing the Zacatecas Silver Project (Fresnillo belt) and the Esperanza Gold Project (Morelos), plus four early-stage Heliostar-acquired properties in Sonora and Oaxaca. Pre-revenue, publicly listed on TSX-V (ZAC), it funds drilling through equity raises targeting future resource development or divestiture.
- Company typePublic
- Founded2020
- HeadquartersVancouver, Canada
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Zacatecas Silver does
Zacatecas Silver Corp. is a Canada-domiciled (Vancouver, BC) public mineral exploration company focused on advancing gold and silver projects in Mexico. The company operates a dual-asset portfolio: the flagship Zacatecas Silver Project in Zacatecas state, located in the historically productive Fresnillo silver belt, covering 7,826 hectares across multiple epithermal vein systems including the Panuco Deposit (20.5 Moz AgEq inferred resource) and the El Cristo Vein System (3 km strike-length, with 22 of 28 scout holes intersecting mineralization); and the advanced-stage Esperanza Gold Project in Morelos state, with a Measured and Indicated resource of 1.15 Moz AuEq at 0.79 g/t and a Preliminary Economic Assessment underway targeting a low-capex conventional open-pit heap-leach operation. In June 2026, the company expanded its footprint by closing an option agreement with Heliostar Metals to acquire four early-stage properties (Cumaro, Oso Negro, La Lola, Ejutla) in Sonora and Oaxaca. The company's core technology is conventional diamond drilling and NI 43-101 resource estimation, supported by P&E Mining Consultants and a drill contract with Major Drilling Mexico; it secured the first new Mexican mining permit (SEMARNAT El Cristo permit) since 2020.
The business model is pre-revenue: Zacatecas Silver does not generate operating revenue and is funded through equity financings and option agreements to advance exploration assets. Cumulative disclosed funding includes a CAD 1.5M private placement in January 2025, an upsized placement targeting up to CAD 3.75M in September 2025, and two CAD 250,000 investor relations agreements with Capital Gain Media Inc. CAD 2.4M of cash was on hand as of June 2026 against a market capitalization of approximately CAD 15-17M. The customer base is the public capital markets — retail and institutional investors seeking precious metals exposure — distributed through TSX Venture Exchange (ZAC), OTC Markets (ZCTSF), and Frankfurt Exchange (7TV) listings, supported by news wire distribution, the corporate website, and social media. The company's primary value-creation path is resource expansion through drilling leading to a future development decision, joint venture, or asset divestiture to a producing miner, with leadership (CEO Eric Vanderleeuw, Chief Geologist Chris Wilson) bringing capital markets and Ivanhoe/K92 Mining pedigree respectively.
Zacatecas Silver firmographics
Firmographics- Name
- Zacatecas Silver
- Legal name
- Zacatecas Silver Corp.
- Website
- https://zacatecassilver.com
- Company type
- Public
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Zacatecas Silver Corp. is a Canada-domiciled, Mexico-focused mineral exploration company advancing the Zacatecas Silver Project (Fresnillo belt) and the Esperanza Gold Project (Morelos), plus four early-stage Heliostar-acquired properties in Sonora and Oaxaca. Pre-revenue, publicly listed on TSX-V (ZAC), it funds drilling through equity raises targeting future resource development or divestiture.
- Ownership category
- akta.pro rank
Zacatecas Silver industry classification
Industry- Product category
- Mineral Exploration and Development (Silver and Gold)
- NAICS
- Gold Ore and Silver Ore Mining (212220), Gold Ore and Silver Ore Mining (21222)
- SIC
- Gold And Silver Ores (1040), Metal Mining (1000)
- akta.pro primary industry
- Silver Mining (IMAKAEAB)
- akta.pro secondary industries
- Gold Mining (IMAKAEAA), Precious Metals Exploration & Project Development (IMAKAEAI)
Keywords
Where Zacatecas Silver is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Zacatecas Silver business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Supply Chain, Personnel, Marketing or Sales, Others
Revenue model
- Pre-Revenue Exploration Stage: Zacatecas Silver is a pre-revenue mineral exploration company. The company does not currently generate operating revenue. Its value is derived from expanding mineral resources at its exploration projects through drilling programs, with the goal of eventually developing mining operations or divestiture.
Marketing channels4 records
Zacatecas Silver product offering
Product offeringCore offering
Zacatecas Silver is a pre-revenue mineral exploration company focused on advancing high-potential gold and silver projects in Mexico. The company's core activities consist of diamond drilling, resource estimation, and geological exploration across two flagship assets: the advanced-stage Esperanza Gold Project in Morelos State and the Zacatecas Silver Project located in the prolific Fresnillo silver belt. Value is generated through expanding defined mineral resources, with the long-term objective of either developing mining operations or divesting assets to larger mining companies.
Product overview
Zacatecas Silver Corp. is a Mexico-based mineral exploration company operating a dual-project portfolio strategy. The flagship Zacatecas Silver Project (in Zacatecas state, within the Fresnillo silver belt) is an advanced silver exploration asset featuring multiple epithermal vein systems including the Panuco Deposit (20.5 Moz AgEq resource) and the El Cristo Vein System (3 km strike). The Esperanza Gold Project (in Morelos state) is an advanced-stage gold asset with a measured and indicated resource of 956,000 oz AuEq, targeting heap-leach development. Additional exploration properties acquired include Cumaro, Oso Negro, La Lola, and Ejutla in Sonora and Oaxaca. The company also holds two priority exploration targets within the Silver Project: the Muleros Vein System and San Gill Breccia Zone.
Differentiator
Problem solved
Functional benefit
Products and services
- Zacatecas Silver Project (The Silver Project)
- Esperanza Gold Project
- Cumaro Project
- Oso Negro Project
- La Lola Project
- Ejutla Project
Quantifiable outcome
- 21% increase in Measured & Indicated AuEq ounces to 1.15 Moz at Esperanza Gold Project
- +2 more outcomes
Companies that use Zacatecas Silver
Customer profileSegments1 record
Ideal customer profiles2 records
Zacatecas Silver technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Zacatecas Silver partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- Capital Gain Media Inc.minorFour-month investor relations agreement effective April 17, 2026, providing content development and digital marketing services for $250,000 upfront fee plus applicable taxes.
- P&E Mining Consultants Inc.coreP&E Mining Consultants Inc. prepared the updated Mineral Resource Estimate for the Esperanza Gold Project effective April 6, 2026, showing a 21% increase in M&I ounces. The firm is also engaged for Preliminary Economic Assessment targeting a low-capex conventional open-pit heap-leach operation.
- Heliostar Metals Ltd.coreZacatecas Silver entered into a binding option agreement to acquire a 100% interest in four non-core early-stage exploration properties (Cumaro, La Lola, Oso Negro, and Ejutla) from Heliostar Metals. Terms include staged payments totaling $450,000 in cash and $750,000 in Zacatecas Silver shares over three years. Heliostar retains a 2% NSR royalty with 1% buyable for $2,000,000 prior to commercial production.
- Major Drilling MexicocoreMajor Drilling Mexico mobilized a diamond drill rig and crew to the El Cristo target. The company signed a drill contract for a 4,000-meter exploration program at the Panuco project and completed a 2,027-metre drilling campaign at El Cristo.
- Ejido PanucocoreCommunity access agreement with Ejido Panuco secured surface access for the 4,000-meter exploration drilling program at the Panuco project in Zacatecas, Mexico.
Scale indicators8 records
Recent moves6 records
Expansion highlights5 records
Zacatecas Silver competitors and assessment
Company assessmentBroad incumbents
- First Majestic Silver Corp. First Majestic Silver is a senior silver producer with operations across Mexico (San Dimas, Santa Elena, La Encantada). It offers comparable exposure to Mexican silver-gold production and is a logical consolidator for junior explorers.
- Fresnillo PLC: Fresnillo PLC operates the Fresnillo Mine adjacent to the Zacatecas Silver Project and is the world's largest primary silver producer. It serves as both a geological analog and a potential strategic acquirer for district consolidation.
- Pan American Silver Corp. Pan American Silver is a major silver producer with multiple Mexican operations and exploration claims near the Zacatecas Silver Project. As a major precious-metals producer, it represents both a neighboring claim-holder and a potential M&A counterparty.
- Coeur Mining Inc.
Direct peers
- Heliostar Metals Ltd. Heliostar Metals is a junior gold-silver exploration company operating in Mexico; it recently sold four exploration properties to Zacatecas Silver while retaining a 2% NSR royalty. Both companies target epithermal Au-Ag systems in Mexican mining districts.
- MAG Silver Corp. MAG Silver operates the Juanicipio silver mine directly adjacent to Zacatecas Silver's flagship Zacatecas Silver Project in the Fresnillo silver belt. Both companies target high-grade silver-gold epithermal vein systems in the same geological district.
- Endeavour Silver Corp. Endeavour Silver is a mid-tier silver-gold producer operating multiple mines in Mexico (Guanaceví, Bolañitos). It directly competes with Zacatecas as a Mexican-focused silver explorer/developer with nearby claims in Zacatecas state.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Zacatecas Silver social profiles
Digital presenceZacatecas Silver financial estimates
Financial estimateRevenue estimate
Valuation estimate
Zacatecas Silver leadership team
Management profileNumber of profiles
Profiles7 records
Zacatecas Silver funding detail
Funding detailFunding overview
Funding rounds6 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Zacatecas Silver M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Zacatecas Silver
What does Zacatecas Silver do?
Zacatecas Silver is a pre-revenue mineral exploration company focused on advancing high-potential gold and silver projects in Mexico. The company's core activities consist of diamond drilling, resource estimation, and geological exploration across two flagship assets: the advanced-stage Esperanza Gold Project in Morelos State and the Zacatecas Silver Project located in the prolific Fresnillo silver belt. Value is generated through expanding defined mineral resources, with the long-term objective of either developing mining operations or divesting assets to larger mining companies.
Is Zacatecas Silver a public or private company?
Zacatecas Silver is a public company. It is classified as public and is currently operating.
When was Zacatecas Silver founded?
Zacatecas Silver was founded in 2020. It employs 11 to 50 people.
Where is Zacatecas Silver based?
Zacatecas Silver is headquartered in Vancouver, Canada, in the North America region.
How does Zacatecas Silver make money?
One revenue line is on record: pre-Revenue Exploration Stage.
Who are Zacatecas Silver's main competitors?
Broad incumbents on record are First Majestic Silver Corp., Fresnillo PLC, Pan American Silver Corp. and Coeur Mining Inc.. Direct peers are Heliostar Metals Ltd., MAG Silver Corp. and Endeavour Silver Corp..
Does Zacatecas Silver have an API?
No public API is recorded for Zacatecas Silver.
What industry is Zacatecas Silver in?
Zacatecas Silver's product category is Mineral Exploration and Development (Silver and Gold). Its primary akta.pro industry code is IMAKAEAB, Silver Mining, with a secondary code of IMAKAEAA, Gold Mining. Its NAICS code is 212220 and its SIC code is 1040.