Vizsla Reports High Metallurgical Test Recoveries FOR Copala: 91% Silver and 94% GOLD
VIZSLA REPORTS HIGH METALLURGICAL
TEST RECOVERIES FOR COPALA: 91%
SILVER AND 94% GOLD
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC
,
Aug. 16, 2023
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA)
(
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") announces positive preliminary metallurgical test
results for the Copala Resource Area ("
Copala
") at its 100%-owned flagship Panuco silver-gold
project ("
Panuco
" or the "
Project
") located in
Mexico
.
"Based on representative samples from
Copala
, the largest known structure in the
Panuco
district,
we are pleased to report very high silver and gold recoveries,"
commented
Michael Konnert
,
President & CEO of Vizsla Silver.
"This is a significant de-risking milestone for the Project and
provides positive implications for the ongoing development of the
Panuco
district. Additionally,
these results complement high silver and gold recoveries from the Napoleon and Tajitos resource
areas using comparable grinding with both flotation and leaching methods independently. We
intend to confirm through the next phase of metallurgical testing and additional flowsheet
optimization that the mineralized material from all three primary zones, which make up the bulk of
the current project resource base, is amenable to processing via the same flowsheet utilizing the
same extraction circuits by testing the combination of flotation and cyanide leaching at both
Napoleon and
Tajitos
."
Testing Procedure:
The test program was designed and supervised by Ausenco Engineering Canada Inc. and completed
by ALS Canada Ltd. out of
Kamloops, BC
. The testing procedure consisted of drill core being first
crushed to -6 mesh and prepared into master composite test charges. A series of flotation tests
were then conducted on the samples at primary grind sizes of between P80 70 to 150μm. Simple
bulk flotation conditions were applied which included 18 g/t of PAX over 8 minutes of flotation time at
natural pH. Precious metal recoveries to the concentrate ranged between 76 to 82% for gold and 78
to 85% for silver.
Flotation concentrate and tails were both subsequently leached using sodium cyanide to maximize
gold and silver extraction. Flotation concentrates were subject following varying levels of regrinding
prior to bottle roll leach tests using a sodium cyanide concentration of 3000 ppm. Pre-aeration was
applied by bottle rolling the prepared feed slurries with ambient air prior to adding cyanide. Flotation
tails were subject to bottle roll leach tests using a sodium cyanide concentration of 1000 ppm. Total
circuit sodium cyanide consumptions averaged 1.3 kg/tonne for tests that included regrinding.
Gold and silver extractions from the flotation concentrates averaged 96.4 and 98.1%, respectively,
for tests that employed regrinding compared with 93.6 and 92.7% without regrinding. Gold
extractions appeared to be complete after 24 hours, while silver benefitted from extending the leach
to 48 hours. Gold extractions from the rougher tails ranged between 77 and 82%, while silver
extractions ranged between 48 and 67% after 48 hours of leaching. The higher extractions were
achieved at the finer primary grind sizes. A summary of master composite test results is presented
in Table 1.
Sample
Ag
(g/t)
Au
(g/t)
Test
PG
µm
RoCon
mass%
RoCon
RG µm
Net Extraction % - Gold
Residue
Au g/t
Net Extraction % - Silver
Residue
Ag g/t
CN Cons
kg/t
Leach
hrs
RoCon
RoTails
Total
RoCon
RoTails
Total
Master
Composite
352
2.44
T13
100
3.7
54
76.0
12.9
88.9
0.28
74.9
12.6
87.4
43
0.59
72 / 72
T14
100
3.1
18
73.6
18.7
92.3
0.18
78.2
10.8
89.0
37
0.93
72 / 72
T22
100
6.1
19
73.4
18.2
91.5
0.19
78.2
10.9
89.1
40
1.34
48 / 48
T25
150
5.3
23
73.3
19.1
92.4
0.18
75.8
10.8
86.5
49
1.08
48 / 48
T28
100
8.6
51
76.9
14.9
91.8
0.20
73.4
11.4
84.7
56
0.85
72 / 72
T55
70
6.5
15
78.5
14.0
92.5
0.17
84.1
9.7
93.7
21
1.80
48 / 48
T60*
100
5.6
14
74.9
18.8
93.7
0.17
76.3
14.2
90.6
32
1.33
24 / 72
* T60 Rougher Con leach residue was added to the Rougher Tail leach
Table 1:
Flotation plus Cyanide Leach results on Master Composite.
A test was conducted in which the concentrate residue was added to the rougher tail leach, 24 hours
into the process, for an additional 48 hours of leaching of this product. This arrangement is
represented in Figure 1. In this test (T60), 93.7% and 90.6% of the gold and silver, respectively,
were extracted to the combined leach solutions as indicated in Table 2.
Test T55 used a finer primary grind of 70µm P80 returned very good total recoveries of 93.0% and
93.8% for gold and silver, respectively. This test used was performed over a lower leach residence
time of 48 hours for both the rougher tails and concentrate. This result indicates that finer primary
grinding may be justified. Repeat testing and grinding circuit cost analysis needs to be completed to
confirm.
Figure 1: Test T60 – Simulated Flowsheet (CNW Group/Vizsla Silver Corp.)
Process Steps
Stage
Mass Recovery (%)
Recovery (%)
Ag
Au
Flotation Concentrate
Flotation + regrind + Cyanide Leach
7.0
76.3
74.9
Rougher Tails
Cyanide Leach
93.0
14.2
18.8
Flotation Plus Cyanide leach
Total
100
90.6
93.7
Table 2:
Summary of results from optimized test work
.
Comminution:
The
Copala
composite material is considered to be hard, returning a bond ball mill
work index (BBWi) of 18.6 kWh/tonne, which is higher in comparison with Napoleon deposit (16.8
kWh/tonne).
Future Work Programs
Based on these positive results from Flotation plus Cyanide Leaching for the
Copala
deposit, further
metallurgical testwork is being planned for the Napoleon and
Tajitos
deposits to further confirm that
they are amenable to the same treatment.
In addition, further test work of material from the Napoleon,
Tajitos
and
Copala
deposits is planned
to better understand and optimise grind size, cyanide consumption, leach kinetics, residence times
and recoveries.
Napoleon and
Tajitos
previous Metallurgical Testwork
Preliminary silver and gold recoveries for the Napoleon and
Tajitos
resource areas were originally
disclosed by Vizsla on
February 17, 2022
and
March 10, 2023
, and are provided in Tables 3 and 4.
The float and leach test work that was carried out on the
Copala
samples has not been specifically
evaluated on Napoleon material however, some of the
Tajitos
samples were tested using a similar
arrangement, albeit not with the same application of regrinding or additional leach residence times.
Process Option
Stage
Mass
Recovery
(%)
Global Recovery (%)
Product Grade (% or g/t)
Ag
Au
Pb
Zn
Ag
Au
Pb
Zn
Whole Ore
Leach
Direct Cyanidation
Leach
100
87
93
-
-
-
-
-
-
Bulk Sulfide
Flotation*
Rougher Conc.
17.0
93
90
94
94
666
16
6.8
5.8
1 Stage Cleaner Conc
7.1
89
88
87
90
1,524
36
15.1
13.2
2 Stage Cleaner Conc
5.6
87
86
82
87
1888
45
18.1
16.2
Sequential
Flotation*
Lead Rougher Conc
6.0
79
80
93
24
1,804
40
18.3
4.4
Zinc Rougher Conc
6.2
9
8
3
72
194
4
0.5
12.8
Gravity
Concentration
Knelson Concentrate
3.6
29
40
28
12
1,087
31
8.9
3.5
Tabled Knelson Conc
0.6
12
26
13
2
2,670
122
24.8
2.9
Table 3
:
Napoleon Deposit.
Summary of results from optimized test work. *Open circuit tests.
Composite
Flowsheet
Displayed Values
Extraction (%)
Reagent Cons – kg/tonne feed
Au
Ag
NaCN
Lime
Diorite MC
Separate Cyanidation of
Reground Flotation
Concentrate and Rougher
Tails
Combined CN Extractions
90.3
89.7
1.0
1.0
Salable Concentrate /
Cyanidation on Tails
Float Con
Estimated Tail CN Extraction
Combined Float/CN
63.7
30.6*
87.3*
69.7
19.7*
89.4*
0.4-0.6*
0.4-0.6*
0.8*
0.8*
Andesite MC
Separate Cyanidation of
Reground Flotation
Concentrate and Rougher
Tails
Combined CN Extractions
94.2
87.3
1.0
1.4
Salable Concentrate /
Cyanidation on Tails
Float Con
Estimated Tail CN Extraction
Combined Float/CN
60.0
34.1*
94.1*
72.5
17.3*
89.8*
0.5*
0.4-0.6*
1.2*
0.8*
Andesite Low
MnOX MC
Separate Cyanidation of
Flotation Concentrate (No
RG) and Rougher Tails
Combined CN Extractions
90.1
80.8
0.9
0.8
*Estimated values. Testing will be required to confirm.
Table 4:
Tajitos Deposit. Potential flowsheet comparison.
Engagement of Rose & Co.
Vizsla would also like to announce that, subject to regulatory approval, it has retained Rose &
Company Holdings, LLC ("Rose & Co.") to provide certain investor relation services to the Company
in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable
legislation. Rose & Co is a
New York
-based advisory firm that provides their clients with high quality
investor access and outreach services.
Under the agreement, the Company will pay Rose & Co.
$15,000
per month during the term. The
term of the engagement is for a period of one year, and Vizsla has a one-time right to terminate the
agreement after three (3) months. Rose & Co. will not receive any shares or options from the
Company as compensation for services it will render.
Rose & Co is at arm's length to the Company, and neither holds any securities of the Company nor
has any interest, direct or indirect, in the Company.
About Rose & Company
Rose & Co. is a strategic advisory firm dedicated to helping clients successfully navigate the global
capital markets. Rose & Co. works with its clients to evaluate, define and execute strategies to
enhance their presence in increasingly globalized and complex capital markets. For more
information, please visit
www.roseandco.com
.
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 7,189.5-hectare, past producing district
benefits from over 86 kilometres of total vein extent, 35 kilometres of underground mines, 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.
The Panuco Project hosts an estimated in-situ indicated mineral resource of 104.8 Moz AgEq and an
in-situ inferred resource of 114.1 Moz AgEq. An updated NI 43-101 technical report titled "Technical
Report on the Mineral Resource Estimate Update for the Panuco Ag-Au-Pb-Zn Project, Sinaloa
State,
Mexico
" was filed on SEDAR on
March 10, 2023
, with an effective date of
January 19, 2023
was prepared by
Allan Armitage
, Ph. D., P. Geo.,
Ben Eggers
, MAIG, P.Geo. and
Yann Camus
,
P.Eng. of SGS Geological Services.
About Vizsla Silver
Vizsla Silver is a Canadian mineral exploration and development company headquartered in
Vancouver, BC
, focused on advancing its flagship, 100%-owned
Panuco
silver-gold project located
in
Sinaloa, Mexico
. To date, Vizsla Silver has completed over 250,000 metres of drilling at
Panuco
leading to the discovery of several new high-grade veins. For 2023, Vizsla Silver has budgeted
+90,000 metres of resource/discovery-based drilling designed to upgrade and expand the mineral
resource, as well as test other high priority targets across the district.
About Ausenco
Ausenco is a global company redefining what's possible. Their team is based across 26 offices in 14
countries, with projects in over 80 locations worldwide. Combining their deep technical expertise with
a 30-year track record, they provide innovative, value-add consulting and engineering studies and
project delivery, asset operations and maintenance solutions to the mining & metals, oil & gas, and
industrial sectors.
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 metallurgical information in this press release has been collated and
reviewed by Peter Mehrfert, P. Eng, of Ausenco. All scientific and technical information in this press
release has been reviewed and approved by Martin Dupuis, P.Geo., COO for Vizsla. Messrs.
Mehrfert and Dupuis are Qualified Persons as defined under the terms of National Instrument 43-
101.
Information Concerning Estimates of Mineral Resources
The scientific and technical information in this news release was prepared in accordance with NI 43-
101 which differs significantly from the requirements of the U.S. Securities and Exchange
Commission (the "SEC"). The terms "measured mineral resource", "indicated mineral resource" and
"inferred mineral resource" used herein are in reference to the mining terms defined in the Canadian
Institute of Mining, Metallurgy and Petroleum Standards (the "CIM Definition Standards"), which
definitions have been adopted by NI 43-101. Accordingly, information contained herein providing
descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar
information made public by other U.S. companies subject to
the United States
federal securities laws
and the rules and regulations thereunder.
You are cautioned not to assume that any part or all of mineral resources will ever be converted into
reserves. Pursuant to CIM Definition Standards, "inferred mineral resources" are that part of a
mineral resource for which quantity and grade or quality are estimated on the basis of limited
geological evidence and sampling. Such geological evidence is sufficient to imply but not verify
geological and grade or quality continuity. An inferred mineral resource has a lower level of
confidence than that applying to an indicated mineral resource and must not be converted to a
mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources
could be upgraded to indicated mineral resources with continued exploration. Under Canadian rules,
estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility
studies, except in rare cases. Investors are cautioned not to assume that all or any part of an
inferred mineral resource is economically or legally mineable. Disclosure of "contained ounces" in a
resource is permitted disclosure under Canadian regulations; however, the SEC normally only
permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in
place tonnage and grade without reference to unit measures.
Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from
standards in the SEC Industry Guide 7. Effective
February 25, 2019
, the SEC adopted new mining
disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933,
as amended (the "SEC Modernization Rules"), with compliance required for the first fiscal year
beginning on or after
January 1, 2021
. The SEC Modernization Rules replace the historical property
disclosure requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC
Modernization Rules, the SEC now recognizes estimates of "measured mineral resources",
"indicated mineral resources" and "inferred mineral resources". Information regarding mineral
resources contained or referenced herein may not be comparable to similar information made public
by companies that report according to U.S. standards. While the SEC Modernization Rules are
purported to be "substantially similar" to the CIM Definition Standards, readers are cautioned that
there are differences between the SEC Modernization Rules and the CIM Definitions Standards.
Accordingly, there is no assurance any mineral resources that the Company may report as
"measured mineral resources", "indicated mineral resources" and "inferred mineral resources" under
NI 43-101 would be the same had the Company prepared the resource estimates under the
standards adopted under the SEC Modernization Rules.
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 exploration, development, and
production at
Panuco
, including plans for resource/discovery-based drilling designed to upgrade and
expand the mineral resource.
Forward–looking statements and forward–looking information relating to any future mineral
production, liquidity, enhanced value and capital markets profile of Vizsla Silver, future growth
potential for Vizsla Silver 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 public health crises; costs of
exploration and development; the estimated costs of development of exploration projects; Vizsla
Silver's ability to operate in a safe and effective manner and its ability to obtain financing on
reasonable terms.
These statements reflect Vizsla Silver'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 Silver 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 public health crises; the economic and financial
implications of public health crises 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; the ongoing military conflict in
Ukraine
; general economic factors; and the factors
identified under the caption "Risk Factors" in Vizsla Silver's management discussion and analysis and
other public disclosure documents. 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 08:00e 16-AUG-23