Vizsla Expands Panuco Resource Areas Along Strike, Napoleon to 1,700 Metres and Tajitos to 1,000 Metres (VZLA-TSX-V)
Vizsla Expands Panuco Resource Areas Along
Strike, Napoleon to 1,700 Metres and Tajitos to
1,000 Metres
(VZLA-TSX-V)
VANCOUVER, BC
,
Nov. 3, 2021
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (OTCQB: VIZSF)
(
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to provide new results from ongoing
resource focused drilling at its 100%-owned flagship Panuco silver-gold project ("
Panuco
" or the
"
Project
") located in
Mexico
. In total, ten new holes targeting the Napoleon Resource Area
("
Napoleon
") and three new holes centered on the Tajitos Resource Area ("
Tajitos
") continue to
intersect high-grade silver-gold mineralization ahead of the Company's maiden project resource
slated for Q1/2022.
Napoleon Highlights
Resource area expanded by 700 metres along strike (
500 m
to the north and
200 m
to the
south)
Infill drilling continues to demonstrate consistent near-surface mineralization at northern Papayo
Zone
Napoleon now traced to 450 meters deep, marked by new intercept ~100 m below that of the
deepest previously reported interval
NP-21-173
:
774 g/t AgEq (99 g/t Ag, 6.80 g/t Au, 0.20% Pb and 1.82% Zn) over
3.7 m
downhole
length from
108.5 m
and
592 g/t AgEq (277 g/t Ag, 2.57 g/t Au, 0.26% Pb and 3.69% Zn) over 1.83 mTW from
136.1 m
NP-21-186
:
200 m
step-out to the south
280 g/t AgEq (58 g/t silver, 0.93 g/t gold, 0.52% lead and 5.50% zinc) over 2.74 mTW
from
359.8 m
Tajitos Highlights
Resource area expanded by 200 metres along strike to the northeast
CS-21-71
:
1,150 g/t AgEq (901 g/t Ag and 3.25 g/t Au) over 3.84 mTW from
201.5 m
CS-21-60
:
319 g/t AgEq (201 g/t Ag and 1.40 g/t Au) over 6.82 mTW from
334.5 m
Note: All numbers are rounded. See Table 1 and 2 for Silver equivalent formulas.
Vizsla President and CEO
Michael Konnert
commented:
"Bold step-outs continue to deliver at
Napoleon with a 200-metre increase to the south and a 500-metre panel of mineralization
developing to the north at the Papayo Zone. At Tajitos, step-out drilling to the northeast continues
to return consistent wide vein intersections suggesting the area could contain a much larger
resource than previously considered. Furthermore, both resource areas show significant depth
potential with new intercepts extending mineralization below the deepest holes in each respective
area. The mineral footprint at
Panuco
continues to grow at a rapid pace. We continue to rapidly
grow the resource footprint in advance of the
December 1
st
assay cut-off for inclusion in the
Project's maiden resource in Q1, 2022."
Figure 1:
Longitudinal section from the main Napoleon prospect with all holes labelled and selected
intersections shown. (CNW Group/Vizsla Silver Corp.)
Figure 2:
Long-Longitudinal section from the larger Napoleon Vein Corridor with all intersections
shown. (CNW Group/Vizsla Silver Corp.)
Figure 3:
Longitudinal section from Tajitos vein, looking to the northwest. All new holes are labelled,
and selected intersections are shown. (CNW Group/Vizsla Silver Corp.)
Figure 4:
Plan map of the Napoleon and Tajitos resource drilling areas (CNW Group/Vizsla Silver
Corp.)
Napoleon Drilling Detail
Resource drilling at Napoleon is focussed on expanding and infilling three main areas along the
Napoleon Vein Corridor with four drill rigs. To the south, a 200-metre step out from previously
reported NP-21-142, has returned a medium grade vein intercept (280g/t AgEq over 2.74 mTW) and
multiple hanging wall and footwall intercepts. This large step-out, will require ongoing infill drilling to
further demonstrate local continuity of the mineralization.
Additionally, deeper drilling along strike and down-plunge to the south, has been successful in
extending mineralization to over 450 metres below surface. Hole NP-21-
189B
is now the deepest
drill hole completed at Napoleon and supports an additional 100 metres to the zone's overall vertical
profile. The Company will continue to test the depth potential of the Napoleon Vein with broad 100
metre step-outs ahead of the
December 1
st
assay cut-off for inclusion in the maiden resource.
In the north at the Papayo Zone, infill drilling continues to highlight a consistent zone of near surface
mineralization. The Company anticipates a portion of this zone will be part of the Project's maiden
resource, adding an additional
500 m
of strike length to the northern end of the Napoleon Resource
Area.
Tajitos Drilling Detail
The Tajitos Resource area continues to expand, with mineralization now traced over
1,000 m
of
strike. New results from the northeast have locally expanded mineralization by ~200 m, marked by
901 g/t Ag and 3.25 g/t Au (1,15 g/t AgEq) over 3.84 mTW in hole CS-21-71. This, in addition to
multiple wide vein intercepts in holes CS-21-87, CS-21-90 and CS-21-92 (assays pending) indicate
the potential for a much larger panel of mineralization than previously considered at
Tajitos
.
Three rigs continue to drill test
Tajitos
, where mineralization remains open at depth and to the
northeast. In addition to the main structure, a second coherent vein has been intersected in the
hanging wall and represents another opportunity for resource expansion once assays have been
received.
Exploration Drilling Update
Two rigs continue to expand the Josephine Vein, with step-out holes underway testing both the
southern and northern extents of the vein. Over the coming months, systematic drilling will aim to
cover the entire 1,200 metre of known vein strike, with assays to be reported in batches upon
receipt.
One rig is testing electromagnetic (EM) targets at the northern extension of the Cinco Senores Vein
Corridor. Two additional EM targets have now been drill tested, with one returning broad intervals
of disseminated galena and sphalerite and the second defining a new vein coincident with the target.
Assays remain outstanding for all EM target holes.
Panuco Project Site Tour
The Company will be hosting an analyst site tour of its
Panuco
project on
November 3
rd
& 4
th
. A link
to the tour presentation along with supplemental materials can be found on the Company's website.
Complete table of Napoleon Resource Area Intersections
Drillhole
From
To
Downhole
Length
Estimated
true
width
Gold
Silver
Lead
Zinc
Silver
Equivalent
Comment
(m)
(m)
(m)
(m)
(g/t)
(g/t)
(%)
(%)
(g/t)
NP-21-163
No Significant Results
NP-21-164
354
362.65
8.65
6.96
2.12
74
0.40
2.10
324
Incl.
354.9
358.15
3.25
2.62
3.50
104
0.21
3.95
520
NP-21-167
351.15
360.02
8.85
4.37
1.26
111
0.96
3.02
313
Incl.
351.15
359.75
5.6
2.77
1.78
165
1.30
4.21
449
Incl.
235.3
353.6
0.3
0.15
7.96
988
1.63
15.95
2,077
NP-21-172
362.75
370.5
7.75
7.32
1.34
114
0.21
0.77
254
Incl.
369.0
370.5
1.5
1.42
2.56
458
0.14
0.50
684
NP-21-173
108.5
112.2
3.7
6.80
99
0.20
1.83
774
Hanging wall
Incl.
108.5
109.4
0.9
26.0
263
0.28
5.40
2,803
And
136.05
141.3
5.25
1.83
2.57
277
0.27
3.7
592
Incl.
136.05
136.8
0.75
0.26
13.95
1,430
0.66
23.3
3,199
NP-21-175
402.15
413
10.85
6.23
0.94
32
0.42
2.53
186
NP-21-176
167.45
169.5
2.05
1.06
0.66
64
4.37
3.18
296
And
176.9
177.35
0.45
18.75
1,090
4.18
8.19
3,059
And
216.0
217.5
1.5
2.41
71
0.36
1.02
323
NP-21-179
289.3
301.95
12.65
6.82
0.74
38
0.13
0.36
116
NP-21-183
64.6
65.8
1.2
0.44
75
0.08
0.14
117
And
275.55
276.95
1.4
3.57
24
1.32
1.57
422
NP-21-186
33.0
37.0
4.0
1.12
169
0.04
0.24
297
And
275.55
276.95
1.4
3.57
24
1.32
1.57
422
And
253.4
276.95
1.5
1.09
384
0.22
0.23
472
And
359.8
363.3
3.5
2.74
0.93
58
0.52
5.50
280
Napoleon
Table 1:
Drillhole intersections from the Napoleon Vein Resource area not previously
reported. All main vein intercepts have an estimated true width. Intercepts without true width
estimates are hanging wall or footwall intersections.
Note: All numbers are rounded. 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 oz silver, $1,700 oz 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.
Napoleon Drill Collar Information
Prospect
Drillhole
Easting
Northing
Elevation
Dip
Azimuth
Hole
Depth
Napoleon
NP-21-163
403,225
2,588,348
483
-66
255
501
NP-21-164
403,188
2,587,055
530
-60
90
409
NP-21-167
403,589
2,586,938
472
-56
264
400
NP-21-172
403,188
2,587,055
530
-64
90
468
NP-21-173
403,408
2,587,211
478
-64
279
201
NP-21-175
403,590
2,586,938
472
-61
264
434
NP-21-176
403,249
2,588,277
532
-45
270
557
NP-21-179
403,572
2,587,015
449
-57
267
403
NP-21-183
403,249
2,588,277
532
-60
270
519
NP-21-186
403,724
2,586,660
444
-47
277
483
Table 2:
Drill hole details. Coordinates in WGS84, Zone 13
Complete table of
Tajitos
drill hole intersections
Drillhole
From
To
Downhole
Length
Estimated
true
width
Gold
Silver
Silver
Equivalent
Comment
(m)
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
CS-21-60
334.5
345.2
10.7
6.82
1.40
201
319
Incl.
339.8
345.2
5.4
3.44
2.27
308
502
CS-21-61
276.25
277.5
1.25
0.76
2.04
296
468
CS-21-71
201.5
205.5
4
3.84
3.25
901
1,150
Incl.
201.5
203.6
2.1
2.02
5.88
1618
2,069
Table 1:
Downhole drill intersections from the holes completed at the Tajitos Vein on the
Cinco Senores Vein Corridor
Note: All numbers are rounded. 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 ounce silver and $1,700 ounce gold, recoveries assumptions are 96% gold and 94% silver, based on similar deposit types.
Tajitos Drill Collar Information
Prospect
Drillhole
Easting
Northing
Elevation
Dip
Azimuth
Hole
Depth
Tajitos
CS-21-60
404,341
2,586,523
582
-61
248
426
CS-21-61
404,364
2,586,657
601
-70
279
342
CS-21-71
404,530
2,587,033
540
-50
286
288
Table 2:
Drill hole details. Coordinates in WGS84, Zone 13.
About the
Panuco
project
The newly consolidated
Panuco
silver-gold project is an emerging high-grade discovery located in
southern
Sinaloa, Mexico
, near the city of Mazatlán. The 6,754.1-hectare, past producing district
benefits from over 75 kilometres of total vein extent, a 500 ton per day mill, 35 kilometres 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.
Note: Two new claims have been acquired adding 149.9 hectares of new area. 4,103.5 hectares
previously reported as part of the
Panuco
project have been removed from the total hectares due to
4 claims being located at a significant distance from the project. These hectares remain as 100%
owned by Vizsla Silver.
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
Martin Dupuis
, P.Geo., Vice President of Technical Services for Vizsla
Silver. Mr. Dupuis is a Qualified Person as defined under the terms of National Instrument 43-101.
Website:
www.vizslasilvercorp.ca
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 programs and mobilization of drill rigs; 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 Silver 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 Silver Corp.
CNW 06:30e 03-NOV-21