Vizsla Samples Multiple, Multi-Kilogram Veins at Panuco Project IN Mexico, up to 4,244 Gram PER Tonne Silver Equivalent Across 0.5 Metres
(VZLA-TSX-V)
FOR IMMEDIATE RELEASE November 12, 2019
VIZSLA SAMPLES MULTIPLE, MULTI-KILOGRAM VEINS AT
PANUCO PROJECT IN MEXICO, UP TO 4,244 GRAM PER TONNE
SILVER EQUIVALENT ACROSS 0.5 METRES
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia (November 12, 2019) – Vizsla Resources Corp. (TSX-V: VZLA)
(“Vizsla” or the “Company”) is pleased to announce due diligence channel sampling results from five
veins at the recently acquired Panuco precious metals district in Sinaloa, Mexico. The sampling locations
are spread across the property and represent first pass sampling of the veins. Detailed sampling and
mapping are ongoing ahead of a maiden drill program.
Sampling Highlights
• 3,024 grams per tonne (g/t) silver equivalent (1,860.0 g/t silver and 14.55g/t gold) over 0.9 metres
at Napoleon 4 - Napoleon Vein
• 4,244 g/t silver equivalent (1,900.0 g/t silver and 29.30 g/t gold) over 0.5 metres at San Antonio -
Cordon del Oro Vein
• 1,250 g/t silver equivalent (690.9 g/t silver and 7.00 g/t gold) over 3.6 metres at San Carlos - Animas
Vein including;
§ 2,605 g/t silver equivalent (1,385.0 g/t silver and 15.25 g/t gold) over 1.6 metres
• 866 g/t silver equivalent (548.4 g/t silver and 3.97 g/t gold) over 5.95 metres at Descubridora -
Cinco Señores Vein including;
§ 1,472 g/t silver equivalent (981.5 g/t silver and 6.13 g/t gold) over 1.9 metres, and
§ 2,309 g/t silver equivalent (1,225.0 g/t silver and 13.55 g/t gold) over 0.6 metres
Note: All numbers are rounded. 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.
“These sample results demonstrate the widespread nature of very high-grade mineralization across the
Panuco project with greater than 1,000 g/t silver equivalent results obtained from six different prospects
on four of the five veins sampled-to-date.” commented Charles Funk, Vice President of Exploration for
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Vizsla. “The Napoleon vein, the Corden del Oro vein and the southern half of the Cinco Señores vein,
including the Descubridora Mine, have never been drilled making these particularly exciting new targets
to add to the more advanced mined areas along the Animas Vein.”
Figure 1: Plan map showing locations of samples collected from Panuco project.
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Exploration Program
The Company, through its wholly-owned subsidiary Canam, commenced a mapping and sampling program
to better understand mineralization at Panuco. The program has now visited five of the major vein corridors
with widespread mineralization sampled on four. Systematic infill sampling and detailed mapping will
now be completed beginning with the Animas vein while prospecting will continue on other veins known
to be of interest on the project. Further , a detailed structural geological interpretation is planned for
November to help generate more precise drill targets at each prospect.
Veining across the property shows remarkably similar vein textures with most veins displaying a well
developed but lower grade white crystalline to sacchoridal quartz vein and a less continuous high-grade
grey crystalline quartz breccia vein with patchy to abundant argentite and pyrite. A significant crackle
breccia occurs as a selvedge to veins. Veins locations are largely controlled by through-going, clay bearing,
faults up to 2.5 metres wide that form the footwall or hangingwall of veins and contain milled fragments of
vein and country rock.
Vein Prospect Location Width
(m)
Silver
(g/t)
Gold
(g/t)
Silver
Equivalen
t
(g/t)
Animas San Carlos Surface 3.6 690.9 7.00 1,250.5
Incl. 1.6 1,385.0 15.25 2,605.0
Mariposa Surface 3.0 488.0 3.20 743.6
Incl. 1.5 692.0 4.33 1,038.4
La Pipa Surface 2.4 343.0 1.77 484.6
Cordon del Oro San Antonio Surface 0.5 1,900.0 29.30 4,244.0
San Antonio Surface 0.4 586.0 7.12 1,155.6
San Antonio Underground 0.7 531.0 2.88 761.4
San Antonio Underground 0.4 451.0 3.37 720.6
San Antonio Underground 0.6 516.0 3.83 822.4
Mojocuan 2 Underground 2.0 91.3 8.98 809.3
Cinco Senores Cinco Señores 3 Surface 1.0 421.0 2.66 633.8
Descubridora Underground 5.95 548.4 3.97 865.9
And 1.9 981.5 6.13 1,471.8
Incl. 0.6 1,225.0 13.55 2,309.0
El Tajito Surface 2.5 331.0 2.18 482.2
Incl. 1.5 465.0 3.43 739.4
Napoleon El Aguaje Surface 1.4 331.0 5.02 732.6
Los Rieles Surface 1.5 715.0 4.87 1,104.6
Napoleon 4 Surface 0.9 1,860.0 14.55 3,024.0
Table 1: Select channel sample results from veins 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.
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Animas Vein
The Animas Vein is the most advanced structure on the project with mining by locals in progress over a 2.8
kilometre strike length. The vein includes several mines including San Carlos (see previous news release,
7th of November 2019), Clemens-El Muerte, La Pipa, Mariposa, San Martin, and Brecha Animas along the
trend of the vein.
Cordon del Oro Vein
The Cordon del Oro Vein and associated splays have no recorded history of drilling. Local miners have
exploited several prospects along the corridor including Cabriza, Mojocuan 1 and 2 and San Antonio.
The area is located at a higher elevation and is known for elevated gold relative to silver. The ratio of gold
to silver is commonly zoned in epithermal systems in Mexico and Vizsla is exploring the possibility that
this indicates a shallower level of erosion with a greater vertical extent of vein preserved beneath the
surface.
San Antonio is an east-west trending splay vein that has multiple small-scale mines and is a narrow vein
with consistent high-grade mineralization over 650 metres of strike. Detailed mapping along this vein is in
progress to define areas where this structure dilates into potential ore chutes.
Cinco Señores Vein
Multiple veins make up the Cinco Señores corridor with workings and deposits along the trend including
the Tajitos, Santa Ana, Descubridora and the flat lying La Colorada deposit. Sampling highlights the
importance of vein intersections with a blowout zone identified at Descubridora that represents an attractive
drill target.
Napoleon Vein
The veins at Napoleon have never been drilled despite some mines along the trend seeing significant
production and multiple levels of underground development. Silver equivalent grades in excess of 500
grams per tonne occur over 1 kilometre of strike extent. A number of splay or cross-cutting veins are noted
at adit entrances and infill mapping and sampling will focus on understanding ore-controls prior to drilling.
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, in the Municipio of Concordia. The property covers the historic Panuco-Copala silver
and gold mining district that has been in production for over 450 years. The option allows for the acquisition
of a mill, 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 Oligocene
ignimbrites and volcanic rocks, continental volcanic and sedimentary rocks correlated to the Tarahumara
Formation, and marine volcanic and sedimentary rocks of the underlying Guerrero Composite Terrane and
its metamorphic basement.
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Qualified Person
The scientific and technical information in this news release has been prepared in accordance with the
Canadian regulatory requirements set out in National Instrument 43 -101 (Standards of Disclosure for
Mineral Projects) and reviewed and approved on behalf of the Company by Michelle Robinson, MASc.
P.Eng., a Qualified Person as defined by NI 43-101 (the “Qualified Person”). Rock samples discussed in
this New Release were prepared by the Company and assayed at ALS according to the procedures detailed
in News Release of 7 November 2019. Control samples, including field duplicates, pulp duplicates,
standard reference pulps and blanks, were inserted into the sample stream. Any QA/QC issues were
identified and re-analyzed as required as part of the analytical process.
Contact Information: For more 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]
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;
existence of multiple high-grade mineralized zones; anticipated timing of future press releases; future
mineral exploration, development and production including the identification of drill targets and
commencement of drilling; timing of completion of a maiden drilling program and a maiden resource;
liquidity, enhanced value and capital markets profile of Vizsla; future growth potential for Vizsla and its
business; estimates regarding future production and future profitability; and completion of financing.
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 silve r, 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
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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.