Vizsla Samples 1,264 g/t Silver Equivalent Across 1.2 Metres at Panuco Project, Mexico
Vizsla Samples 1,264 g/t Silver Equivalent
Across 1.2 Metres at Panuco Project, Mexico
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(VZLA-TSX-V)
VANCOUVER, Feb. 4, 2020 /CNW/ - Vizsla Resources Corp. (TSX-V: VZLA) ("Vizsla" or the
"Company") is pleased to announce further surface sampling results from exploration in the Panuco
silver-gold district in Mexico. Recent surface sampling of the new Honduras vein has returned high
grades above minor historical workings over a 250-metre strike length. The vein trends northerly
beneath younger cover rocks concealing its true length. The results make this an attractive target for
the current 14,500 metre drilling program in progress.
Sampling Highlights
664 g/t silver equivalent (508.0 g/t silver and 1.95 g/t gold) over 2.0 metres at Honduras 5 –
Honduras Vein including;
1,051 g/t silver equivalent (801.0 g/t silver and 3.12 g/t gold) over 1.0 metres
436 g/t silver equivalent (287.7 g/t silver and 1.86 g/t gold) over 6.4 metres at Honduras 3 –
Honduras Vein including;
886g/t silver equivalent (580.5 g/t silver and 3.82 g/t gold) over 2.6 metres including;
1,264 g/t silver equivalent (784.0 g/t silver and 6.00 g/t gold) over 1.2 metres
N ote: All num bers are rounded. Silver equivalent (AgE q) is calculated by m ultiplying the gold grade by 80 and adding it to the silver grade. This calculation estim ates 100% recovery
of both m etals. W idths are estim ated to represent true widths. E quivalents are calculated using gold and silver grades and do not contain base m etals.
"Vizsla continues to deliver new high-grade veins across the district. We are conducting first pass
drilling on multiple veins at Panuco to establish priorities for possible resource definition drilling.
While that program proceeds, we are mapping and sampling the many veins in the district. That
mapping continues to reveal areas of high-grade mineralization previously not known to us. The
Honduras vein is one such locality." President and CEO, Michael Konnert commented.
Charles Funk, VP Exploration stated "Mining on the Honduras vein appears to have been limited to
30-60 vertical metres depth due to ground water conditions. It is another vein that has never been
drilled. We plan to add Honduras to the list of veins being tested in the drilling program that re-
commenced in January."
Figure 1: Plan map showing locations of the Honduras Vein and surface sampling (CNW
Group/Vizsla Resources Corp.)
The Honduras vein was found during detailed mapping of northern extensions to the Animas vein
corridor. The vein trends north-south and is near vertical. It is likely a splay splitting off the main
Animas – Refugio structure. Historic mining from the late 1800's exploited the vein over a vertical
range of 30-60 metres, above the level of an active stream. Production to depth was limited by the
surface water flow. An existing dirt road climbs up the hill to the east of the vein and appears to be
well placed to locate drill pads.
The re-brecciated center of the vein is 0.4 to 1.0 metres wide and is composed of a grey quartz
matrix and some grey quartz clasts. This is flanked by both massive vein quartz and a breccia phase
with a white quartz matrix that again ranges from 1.0 to 4.0 metres wide. Local splays strike off the
main vein into horse tail structures that trend some 10 to 20 metres into the wallrock. The
intersections of these splays with the northwesterly veins are typically locations of higher-grade
mineralization.
Sampling results along the Honduras Vein
Vein Prospect Location W idth
(m)
Silver
(g/t)
G old
(g/t)
Silver
E quivalent
(g/t)
H onduras H onduras 1 Surface 3.00 272.1 0.49 310.9
Incl. 1.50 454.0 0.65 505.6
H onduras 2 Surface 2.60 137.7 0.43 172.1
H onduras 3 Surface 6.40 287.7 1.86 436.3
Incl. 2.60 580.5 3.82 886.2
Incl. 1.20 784.0 6.00 1,264.0
H onduras 4 Surface 2.80 324.4 1.46 440.8
H onduras 5 Surface 2.00 508.0 1.95 664.1
Incl. 1.00 801.0 3.12 1,050.6
H onduras 6 Surface 0.80 238.0 1.02 319.6
H onduras 7 Surface 3.30 91.7 0.45 128.0
H onduras 8 Surface 1.6 75.9 0.85 144.1
Table 1: Channel sample results from the Honduras Vein at Panuco. Silver equivalent (AgEq) is
calculated by multiplying the gold grade by 80 and adding it to the silver grade. This calculation
estimates 100% recovery of both metals. Widths are estimated to represent true widths.
Drill Campaign Update
Drilling is underway along the Animals-Refugio corridor. The Company has completed a total of three
drill holes and is expecting assays back in March, 2020.
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.
Qualified Person
Michelle Robinson, MASc. P.Eng, is the Company's designated Qualified Person within the meaning
of National Instrument 43-101 Standards of Disclosure for Mineral Projects and has reviewed and
approved its scientific and technical content on behalf of Vizsla.
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,
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: satisfaction or waiver
of all applicable conditions to closing of the Acquisition including, without limitation, receipt of all
necessary approvals or consents and lack of material changes with respect to Vizsla and Canam
and their respective businesses, all as more particularly set forth in the Acquisition agreement; the
synergies expected from the Acquisition not being realized; business integration risks; fluctuations in
general macro economic conditions; fluctuations in securities markets and the market price of
Vizsla's common shares; 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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CO: Vizsla Resources Corp.
CNW 03:00e 04-FEB-20