Vizsla Returns To Site To Restart Exploration And Drilling At Panuco Silver Project, Mexico (VZLA:TSX-V)
Vizsla Returns To Site To Restart Exploration
And Drilling At Panuco Silver Project, Mexico
(VZLA:TSX-V)
VANCOUVER
,
May 21, 2020
/CNW/ -
Vizsla Resources Corp. (TSX-V: VZLA) (OTCQB: VIZSF)
(
Frankfurt
: 0G3)
("
Vizsla
" or the "
Company
") is pleased to announce the Company has remobilized
exploration staff to the
Panuco
project to restart exploration and recommence the Company's
maiden 14,500 metre drill program. Exploration was halted in response to the Mexican federal
government's mandate that all non-essential businesses temporarily suspend operations due to the
COVID-19 pandemic.
CEO
Michael Konnert
stated
"Vizsla is excited to get back to safely restarting our exploration
program and test beneath the high-grade results sampled on the Cordon del
Oro
and Napoleon
veins. With the exploration period of the Company's options on the project extended into 2022 and
new high-grade targets for drilling, Vizsla is in the best shape yet to capitalize on the
underexplored district opportunity at the
Panuco
project."
Vizsla has updated and expanded its COVID-19 health and safety protocols to incorporate the
Ministry of Health recommendations and is working with its contractors and the local community to
meet mandated guidelines and reporting protocols required for work to restart. The Company will
initially restart with a small crew and a single drill rig and undertake a phased ramp up to include
mapping teams and a second drill rig in June should conditions remain safe to do so.
Vizsla has tested only five of the initially identified twenty targets and will continue with two drill rigs
to ensure the remaining 10,861 metres of planned drilling is completed in the 2020 calendar year.
About the
Panuco
project
Vizsla has an option to acquire 100% of the newly 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.
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 potential drill targets; future mineral exploration including restarting and recommencing
exploration programs, development and production including the identification of drill targets and
commencement of drilling; 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; 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) 838-4327, Email: [email protected]
CO: Vizsla Resources Corp.
CNW 09:00e 21-MAY-20