Vizsla expands Napoleon with multiple high- grade intercepts at Panuco project, Mexico VZLA-TSX-V
Vizsla expands Napoleon with multiple high-
grade intercepts at Panuco project, Mexico
VZLA-TSX-V
VANCOUVER, BC
,
Oct. 6, 2020
/CNW/ -
Vizsla Resources Corp.
(TSX-V: VZLA) (OTCQB:
VIZSF) (
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to provide results from sixteen new
holes at the Napoleon prospect at the
Panuco
silver-gold project ("
Panuco
" or the "
Project
") in
Mexico. These results expand the discovery to the south and at depth where it remains open
beneath wide intercepts.
Drilling Highlights
NP-20-25
449 g/t silver equivalent
(254.7 grams per tonne ("g/t") silver, 2.02 g/t gold, 0.31% lead and
0.61% zinc) over 15.3 metres ("m") true width from
124.7 m
including;
4,341 g/t silver equivalent
(2790.0 g/t silver, 17.0 g/t gold, 1.88 % lead and 3.88 % zinc)
over
0.70 m
true width from
127.5 m
and,
3,560 g/t silver equivalent
(1915.0 g/t silver, 18.2 g/t gold, 1.15 % lead and 1.57 % zinc)
over
0.73 m
true width downhole from
145.2 m
NP-20-27
1,696 g/t silver equivalent
(869.9 g/t silver, 8.70 g/t gold, 0.85% lead and 2.02 % zinc) over
2.58 m
true width from
116.55m
including:
2,807 g/t silver equivalent
(1395.0 g/t silver, 14.8 g/t gold, 1.56 % lead and 3.43 % zinc)
over
0.74 m
true width from
117.95 m
and,
755 g/t silver equivalent
(415.0 g/t silver, 2.90 g/t gold, 2.01 % lead and 2.07 % zinc) over
2.01 m
true width from
106.35 m
including:
1,180 g/t silver equivalent
(725.0 g/t silver, 4.83 g/t gold, 0.82 % lead and 1.24 % zinc)
over
0.54 m
true width from
107.25 m
Note: All numbers are rounded, and widths represent downhole lengths. Silver equivalent is
calculated using the following formula: Silver-equivalent = ((Au_g/t x 52.48) + (Ag_g/t x 0.5289) +
(Pb_ppm x 0.0013) + (Zn_ppm x 0.0013)) / 0.5627). Metal price assumptions are
$17.50
g/t silver,
$1,700
g/t gold,
$0.75
pound lead and
$0.85
pound zinc, recoveries assumptions are 96% gold,
94% silver, 78% lead and 70% zinc based on similar deposit types. The Company is disclosing
results on a silver equivalent basis due to the overall silver dominant nature of mineralization at the
Panuco
project.
Vizsla President and CEO,
Michael Konnert
, commented: "
Recent drilling continues to grow the
Napoleon discovery area where the best new intercepts are from the deepest holes completed.
Mineralization has been extended to the south over
50m
and is completely open at depth. The
broad intercepts in NP-20-25 and NP-20-27 as well as the internal high-grade veins increase the
possibility of both open pit and underground mining scenarios. The Company's aggressive
exploration program is targeting three vein corridors in the district and it is exciting to see the
benefit of systematic drilling around our multiple discoveries, particularly the addition of
significantly more mineralization at Napoleon
."
Longitudinal section, looking west, from the Napoleon prospect with all holes labelled and significant
intersections shown. (CNW Group/Vizsla Resources Corp.)
Figure 1:
Longitudinal section, looking west, from the Napoleon prospect with all holes
labelled and significant intersections shown. All figures including a plan map can be found at the
Company's website.
Click here
.
Napoleon Drilling
detail
Drilling has continued to expand the known extents of mineralization at Napoleon. The Company is
systematically stepping out from the better intercepts and the mineralization remains open. Recent
drilling has been expanding the vein above the discovery hole area and then drilling will pivot to test
beneath the very high grade intersection in NP-20-07 and beneath holes NP-20-13, NP-20-25 and
NP-20-27.
The Napoleon structure is hosted in weakly magnetic microdiorite and trends roughly north – south
for over
2000 m
of strike. The structure hosts two main quartz veins that are separated by 10 to
20m
, and dips steeply to the east. Between the two main veins are a series of smaller splay veins
with variable orientations, that are related to opening along the structure under strike slip
movement. The two main veins have a variable true width of 0.4 to
15.3 m
and are usually hosted
next to the main fault structure, though occasionally also occur outside of the fault.
The footwall fault is usually characterized by a zone of milled breccia, while the hanging wall fault
appears to have seen less movement. The two main veins are multi-episodal quartz veins, with
sections of massive white to grey quartz as well as local brecciation with clasts of grey quartz, white
vein quartz and / or wallrock fragments. The grey quartz is discoloured due to the presence of very
fine grained argentite. A later breccia cuts these earlier phases that is grey quartz supporting
polymictic clasts of grey and white quartz along with strong chlorite and fine to medium grained
pyrite, sphalerite and galena. Other smaller quartz veins have been cut in both the hanging wall and
footwall that appear to be splays with less continuity.
Complete table of Napoleon drill hole intersections
Drillhole
From
To
Est.
True
Width
Gold
Silver
Lead
Zinc
Silver Equivalent
Comment
(m)
(m)
(m)
(g/t)
(g/t)
(%)
(%)
(g/t)
NP-20-06
43.72
44.9
0.84
1.21
99.1
0.03
0.06
207.6
Main vein.
Hit Mining Void
NP-20-12
88.5
93.8
3.81
1.09
77.5
0.12
0.32
184.3
Main vein
And
98.05
99.55
1.23
0.15
13.0
0.02
0.08
28.7
Footwall vein
NP-20-13
Results delayed pending QA/QC
NP-20-14
111.85
116.3
3.03
0.45
4.7
0.01
0.08
48.8
Main vein
NP-20-15
No Significant Result
NP-20-16
90.5
92.55
1.66
0.88
145.5
0.05
0.16
223.8
Main vein
Incl.
91.15
91.85
0.57
1.87
347.0
0.07
0.23
507.6
NP-20-17
86
91
3.78
0.58
75.30
0.24
0.49
141.9
Main vein
NP-20-20
96.65
97.25
0.40
1.08
73.40
3.38
16.1
622.1
Main vein
And
103
103.3
0.20
0.50
41.70
0.20
0.80
109.0
Footwall vein
NP-20-22
95
98.1
2.35
1.61
145.9
0.41
1.06
321.4
Main vein
NP-20-23
107.6
117.65
5.70
0.60
69.6
0.51
1.58
169.5
Main vein
NP-20-25
124.7
150
15.3
2.02
254.7
0.31
0.61
448.7
Main vein
Incl.
127.5
128.65
0.70
17.00
2,790.0
1.88
3.88
4,341.4
And
145.2
146.4
0.73
18.20
1,915.0
1.15
1.57
3,560.3
NP-20-27
95.7
135.2
21.0
1.54
158.4
0.33
0.62
315.0
Includes Dilution
Incl.
106.35
109.5
2.01
2.9
415
2.01
2.07
754.7
Hanging wall
Incl.
107.25
108.1
0.54
4.83
725
0.82
1.24
1,179.7
And
116.55
121.4
2.58
8.70
869.9
0.85
2.02
1,695.9
Main Vein
Incl.
117.95
119.35
0.74
14.80
1,395.0
1.56
3.43
2,807.0
And
131.5
133.3
1.11
1.46
113.7
0.10
0.09
247.6
Footwall vein
Table 1:
Downhole drill intersections from the holes completed at the Napoleon Discovery.
Drillholes NP-20-19, NP-20-21, NP-20-24 and NP-20-26 where drilled at Papayo prospect (1km
north on the Napoleon vein) and will be reported separately. A complete table of results can be
found at the Company's website.
Click here
.
Note: All numbers are rounded and widths represent downhole lengths. Silver equivalent is
calculated using the following formula: Silver-equivalent = ((Au_g/t x 52.48) + (Ag_g/t x 0.5289) /
0.5627). Metal price assumptions are
$17.50
g/t silver and
$1,700
g/t gold, recoveries assumptions
are 96% gold and 94% silver, based on similar deposit types.
Drill Collar Information
Prospect
Drillhole
Easting
Northing
Elevation
Dip
Azimuth
Hole Depth
Napoleon
NP-20-06
403,355
2,587,421
506
-60
258
150
NP-20-12
403,419
2,587,284
471
-44
260
136
NP-20-13
403,421
2,587,286
471
-52
298
161
NP-20-14
403,420
2,587,285
471
-51
282
194
NP-20-15
403,420
2,587,285
471
-59
282
167
NP-20-16
403,406
2,587,369
486
-43
292
156
NP-20-17
403,406
2,587,369
486
-47
275
126
NP-20-20
403,406
2,587,369
485
-57
275
144
NP-20-22
403,406
2,587,369
485
-52
293
143
NP-20-23
403,409
2,587,367
485
-60
295
145
NP-20-25
403,409
2,587,367
485
-55
311
183
NP-20-27
403,406
2,587,369
485
-63
274
180
Table 3:
Drill hole details. Coordinates in WGS84, Zone 13.
About the
Panuco
project
Vizsla has an option to acquire 100% of the recently consolidated 9,386.5 Ha Panuco district in
southern
Sinaloa, Mexico
, near the city of Mazatlán. The option allows for the acquisition of over 75
km of total vein extent, a 500 tpd mill, 35 kms of underground mines, tailings facilities, roads, power
and permits.
The district contains intermediate to low sulfidation epithermal silver and gold deposits related to
siliceous volcanism and crustal extension in the Oligocene and Miocene. Host rocks are mainly
continental volcanic rocks correlated to the Tarahumara Formation.
Quality Assurance / Quality Control
Drill core and rock samples were shipped to ALS Limited in
Zacatecas
,
Zacatecas, Mexico
and in
North Vancouver, Canada
for sample preparation and for analysis at the ALS laboratory in
North
Vancouver
. The ALS Zacatecas and
North Vancouver
facilities are ISO 9001 and ISO/IEC 17025
certified. Silver and base metals were analyzed using a four-acid digestion with an ICP finish and
gold was assayed by 30-gram fire assay with atomic absorption ("AA") spectroscopy finish. Over
limit analyses for silver, lead and zinc were re-assayed using an ore-grade four-acid digestion with
AA finish.
Control samples comprising certified reference samples, duplicates and blank samples were
systematically inserted into the sample stream and analyzed as part of the Company's quality
assurance / quality control protocol.
Qualified Person
The Company's disclosure of technical or scientific information in this press release has been
reviewed and approved by
Stewart Harris
, P.Geo., an independent consultant for the Company. Mr.
Harris is a Qualified Person as defined under the terms of National Instrument 43-101.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward–Looking Statements" within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and "forward–looking information" under
applicable Canadian securities laws. When used in this news release, the words "anticipate",
"believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and
similar words or expressions, identify forward–looking statements or information. These forward–
looking statements or information relate to, among other things: the development of
Panuco
,
including drilling activities; future mineral exploration, development and production; and completion of
a maiden drilling program.
Forward–looking statements and forward–looking information relating to any future mineral
production, liquidity, enhanced value and capital markets profile of Vizsla, future growth potential for
Vizsla and its business, and future exploration plans are based on management's reasonable
assumptions, estimates, expectations, analyses and opinions, which are based on management's
experience and perception of trends, current conditions and expected developments, and other
factors that management believes are relevant and reasonable in the circumstances, but which may
prove to be incorrect. Assumptions have been made regarding, among other things, the price of
silver, gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of
exploration and development; the estimated costs of development of exploration projects; Vizsla's
ability to operate in a safe and effective manner and its ability to obtain financing on reasonable
terms.
These statements reflect Vizsla's respective current views with respect to future events and are
necessarily based upon a number of other assumptions and estimates that, while considered
reasonable by management, are inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Many factors, both known and unknown, could
cause actual results, performance or achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied by such forward–looking
statements or forward-looking information and Vizsla has made assumptions and estimates based
on or related to many of these factors. Such factors include, without limitation: the Company's
dependence on one mineral project; precious metals price volatility; risks associated with the
conduct of the Company's mining activities in
Mexico
; regulatory, consent or permitting delays; risks
relating to reliance on the Company's management team and outside contractors; risks regarding
mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a
commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate
sufficient cash flow from operations; risks relating to project financing and equity issuances; risks
and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources,
metallurgical recoveries and capital and operating costs of such projects; contests over title to
properties, particularly title to undeveloped properties; laws and regulations governing the
environment, health and safety; the ability of the communities in which the Company operates to
manage and cope with the implications of COVID-19; the economic and financial implications of
COVID-19 to the Company; operating or technical difficulties in connection with mining or
development activities; employee relations, labour unrest or unavailability; the Company's
interactions with surrounding communities and artisanal miners; the Company's ability to successfully
integrate acquired assets; the speculative nature of exploration and development, including the risks
of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among
certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and
the factors identified under the caption "Risk Factors" in Vizsla's management discussion and
analysis. Readers are cautioned against attributing undue certainty to forward–looking statements or
forward-looking information. Although Vizsla has attempted to identify important factors that could
cause actual results to differ materially, there may be other factors that cause results not to be
anticipated, estimated or intended. Vizsla does not intend, and does not assume any obligation, to
update these forward–looking statements or forward-looking information to reflect changes in
assumptions or changes in circumstances or any other events affecting such statements or
information, other than as required by applicable law.
SOURCE
Vizsla Resources Corp.
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For further information:
and to sign-up to the mailing list, please contact: Michael Konnert,
President and Chief Executive Officer, Tel: (604) 364-2215, Email: [email protected]
CO: Vizsla Resources Corp.
CNW 06:00e 06-OCT-20