Vizsla Expands Tajitos By 40% to 800 Metres, Hitting 3,374 g/t AgEq Over 1.5 mTW at Panuco (VZLA-TSX-V)
Vizsla Expands Tajitos By 40% to 800 Metres,
Hitting 3,374 g/t AgEq Over 1.5 mTW at
Panuco
(VZLA-TSX-V)
VANCOUVER, BC
,
Oct. 14, 2021
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (OTCQB: VIZSF)
(
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to provide results from 23 new drill holes
targeting the Tajitos Vein resource area ("
Tajitos
") at its 100%-owned, flagship Panuco silver-gold
project ("
Panuco
" or the "
Project
") located in
Mexico
.
Highlights
CS-21-66
: 115 metre step to the southwest:
3,374 grams per tonne (g/t) silver equivalent (AgEq) (2,607 g/t silver and 9.90 g/t gold)
over 1.5 metres true width (mTW) from
348.3 m
and;
793.9 g/t AgEq (599.7 g/t silver and 2.47 g/t gold) over 1.3 down hole width from
175.45m
CS-21-77
: 165 metre step to the northeast:
354 g/t AgEq (216 g/t silver and 1.62 g/t gold) over 4.95 mTW from
348.3 m
and;
1,582 g/t AgEq (1,115 g/t silver and 5.73 g/t gold) over 0.7 down hole width from
159.7 m
CS-21-37
: 1,643 g/t AgEq (960 g/t silver and 7.94 g/t gold) over 1.34 mTW from
207.3 m
CS-21-50
: 807 g/t AgEq (615 g/t silver and 2.46 g/t gold) over 1.99 mTW from
251.4 m
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.
Vizsla President and CEO
Michael Konnert
commented:
"
Tajitos
continues to exceed our high
expectations with large step out holes now expanding the target resource area to over 800 metres
in total strike length. Mineralization remains open in both directions along strike and at depth,
where elevated precious to base metal ratios continues to highlight significant potential for further
expansion. The Company currently has three rigs focused on
Tajitos
and will continue to take bold
step-outs ahead of declaring the Project's maiden resource in Q1, 2022."
Figure 1: 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 2: Plan map of the Tajitos resource drilling area along the Cinco Senores Vein Corridor.
(CNW Group/Vizsla Silver Corp.)
Tajitos Drilling detail
Resource drilling targeting the Tajitos Vein, located along the Cinco Senores Vein Corridor (Figures
1 & 2), approximately
500m
east of the Napoleon Vein, has significantly expanded the Zone's
mineralized footprint, now measuring 800 metres along strike and to a depth of 300 metres below
surface. Drilling will now progress using a grid pattern on 100-metre centers (previously 50-metre
centers) due to increased confidence in local controls to mineralization and the potential to rapidly
add tonnage ahead of the data cut-off for inclusion in the maiden project resource.
Step-out drilling to the southwest intersected 3,374 g/t silver equivalent over a true width of 1.4
metres in one of the deepest holes completed to date at
Tajitos
(CS-21-66). This intercept is
located approximately 150 metres from the nearest drill hole (115 metres along strike) and remains
open in all directions. Infill drilling between this intercept and the main panel of mineralization has
been completed and assays remain pending.
To the northeast, step-out hole CS-21-77 was similarly successful, intersecting the vein with
increased width; 4.9 metres true width grading 354 g/t silver equivalent. This intercept is open in all
directions and the company interprets it to be part of another potential zone of dilation observed
along the Tajitos Vein. Step outs to depth and further to the northeast continue to define a broad
mineralized structure (assays remain pending for these holes).
Following the receipt of several outstanding assays surrounding the step-out holes detailed above,
Vizsla intends to provide an updated average width and weighted average grade for the Tajitos Vein.
CS-21-77 has also identified an additional parallel vein in the hanging wall of
Tajitos
, marked by
elevated precious metals grades (0.7 metres downhole width grading 1,582 g/t silver equivalent.
This vein appears to be restricted to the northeast zone and has been intersected by all step-out
holes to the northeast of, and vertically below hole CS-21-77.
Infill drilling centered on the core area of
Tajitos
has significantly improved the overall understanding
of the Zone's controls to mineralization. The high-grade body of mineralization first intercepted in
hole CS-21-01 is observed to pinch to the southwest of holes CS-20-06 and CS-20-11, particularly
as the host lithology changes from Andesite to Diorite. Here, average vein thickness and grade are
observed to decrease before the vein widens and grade lifts again away from the contact.
Additionally, a notable change in dip direction observed in the southwest, with an axis from hole CS-
21-48 to CS-21-47, may be responsible for local grade variability, with relatively higher grades
intercepted above and below this change. Holes CS-21-23 and CS-21-50 are good examples of the
mineralization returning to higher grades beneath and to the southwest of this change in orientation.
There are currently 10 drill rigs turning at
Panuco
: four centered on Napoleon resource drilling, three
on
Tajitos
resource drilling, two focused on expanding the Josephine prospect and one testing EM
geophysics targets.
Complete table of
Tajitos
drill hole intersections
Drillhole
From
To
Length
True
Width
GOLD
SILVER
Silver
Equivalent
Comment
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
CS-21-34
351
353.5
2.5
1.38
1.16
79
182
CS-21-35
No Significant values
Ands/Dior cont.
CS-21-37
207.3
209.2
1.9
1.34
7.94
960
1,643
Incl.
207.3
208.5
1.2
0.85
12.05
1,465
2,501
And
223.2
223.9
0.70
4.16
2,082
2,345
Foot wall
Incl.
223.2
223.5
0.30
9.01
4,590
5,155
CS-21-38
No Significant values
Ands/Dior cont.
CS-21-39
No Significant values
CS-21-41
226.65
229.5
2.85
2.15
1.09
188
278
CS-21-42
No Significant values
CS-21-44
261.25
263.1
1.8
1.38
2.83
527
759
Incl.
261.25
262
0.75
0.57
3.17
639
896
CS-21-45
No Significant values
Ands/Dior cont.
CS-21-46
182.5
183.1
0.5
0.46
0.17
92
103
CS-21-47
313.6
322.3
8.7
0.51
99
141
Hanging wall
Incl.
313.6
314.7
1.1
1.78
418
558.9
And
401.2
401.8
0.55
0.43
0.16
35
48
Ands/Dior cont.
CS-21-48
No Significant values
Dip change
CS-21-49
176.05
184.5
8.45
2.56
304
524
Hanging wall
Incl.
179.45
181.0
1.55
8.27
816
1,538
And
358.7
363.5
4.75
3.14
0.12
23
33
CS-21-50
251.4
254.3
2.85
1.99
2.46
615
807
Incl.
251.4
252.4
1.0
0.70
6.45
1,640
2,143
CS-21-51
373.85
375.7
1.85
0.97
0.16
62
73
CS-21-52
291.75
293.0
1.25
0.86
3.37
315
610
CS-21-53
333.2
335.45
2.25
2.04
0.33
51
79
Dip change
CS-21-54
No Significant values
CS-21-55
No Significant values
Dip change
CS-21-57A
No Significant values
Dip change
CS-21-59A
269.55
271.6
2.05
1.39
3.26
73
372
Cs-21-66
175.45
176.8
1.3
2.47
600
794
Hanging wall
And
348.3
350.5
2.2
1.50
9.90
2,607
3,374
CS-21-77
159.7
160.4
0.7
5.73
1,115
1,582
Hanging wall
And
182.9
187.9
4.95
4.38
1.62
216
354
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.
Drill Collar Information
Prospect
Drillhole
Easting
Northing
Elevation
Dip
Azimuth
Hole
Depth
Tajitos
CS-21-34
404,353
2,586,793
600
-66
299
381
CS-21-35
404,280
2,586,736
564
-61
322
251
CS-21-37
404,279
2,586,735
564
-68
296
300
CS-21-38
404,280
2,586,736
564
-70
328
360
CS-21-39
404,417
2,587,022
521
-74
280
305
CS-21-41
404,456
2,586,929
527
-60
302
276
CS-21-42
404,456
2,586,929
527
-69
303
306
CS-21-44
404,458
2,586,923
526
-59
284
305
CS-21-45
404,544
2,586,776
529
-37
299
399
CS-21-47
404,544
2,586,776
529
-45
298
431
CS-21-48
404,341
2,586,524
582
-41
307
291
CS-21-49
404,353
2,586,793
600
-73
304
389
CS-21-50
404,341
2,586,524
582
-52
309
363
CS-21-51
404,353
2,586,792
600
-74
275
386
CS-21-52
404,341
2,586,524
582
-60
315
315
CS-21-53
404,364
2,586,657
601
-57
309
366
CS-21-54
404,340
2,586,524
582
-66
315
378
CS-21-55
404,364
2,586,657
601
-64
310
384
CS-21-57A
404,364
2,586,657
601
-62
300
387
CS-21-58
404,320
2,586,484
586
-70
312
414
CS-21-59A
404,364
2,586,657
601
-68
299
372
CS-21-66
404,277
2,586,414
590
-69
270
392
CS-21-77
404,504
2,587,123
549
-49
297
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.
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:
For more 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], Website: www.vizslasilvercorp.ca
CO: Vizsla Silver Corp.
CNW 09:28e 14-OCT-21