Vizsla Silver Confirms High-Grade Silver Continuity at Copala
VIZSLA SILVER CONFIRMS HIGH-GRADE
SILVER CONTINUITY AT COPALA
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC
,
March 1, 2023
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA)
(
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to report drill results from 14 infill holes
targeting the
Copala
resource area at its 100%-owned, flagship Panuco silver-gold project
("
Panuco
" or the "
Project
") located in
Mexico
. The reported results correspond to infill drilling in the
southeast-central portion of the
Copala
structure, demonstrating high-grade precious-metals
continuity within the
Copala
resource wireframe.
Highlights
CS-22-246 returned
1,548 grams per tonne (g/t) silver equivalent (AgEq) over 15.00
metres true width (mTW)
(1,142 g/t silver and 7.20 g/t gold)
Including 3,872 g/t AgEq over 3.07 mTW (2,878 g/t silver and 17.72 g/t gold)
And 3,356 g/t AgEq over 2.31 mTW (2,331 g/t silver and 17.60 g/t gold)
CS-22-248 returned
787 g/t AgEq over 20.60 mTW
(643 g/t silver and 2.80 g/t gold)
Including 1,099 g/t AgEq over 1.02 mTW (912 g/t silver and 3.71 g/t gold)
And 3,195 g/t AgEq over 0.26 mTW (2,670 g/t silver and 10.55 g/t gold)
And 2,573 g/t AgEq over 4.84 mTW (2,099 g/t silver and 9.20 g/t gold)
CS-22-251 returned
731 g/t AgEq over 18.00 mTW
(602 g/t silver and 2.53 g/t gold)
Including 1,032 g/t AgEq over 0.55 mTW (897 g/t silver and 2.93 g/t gold)
And 4,161 g/t AgEq over 2.27 mTW (3,421 g/t silver and 14.51 g/t gold)
And 1,099 g/t AgEq over 0.52 mTW (931 g/t silver and 3.45 g/t gold)
CS-22-241 returned
1,287 g/t
AgEq
over 4.30
mTW
(758 g/t silver and 8.62 g/t gold)
Including 1,616 g/t AgEq over 1.05 mTW (798 g/t silver and 12.93 g/t gold)
And 3,653 g/t AgEq over 0.86 mTW (2,347 g/t silver and 21.77 g/t gold)
CS-23-253 returned
2,522 g/t AgEq over 2.10 mTW
(1,920 g/t silver and 10.91 g/t gold)
Including 3,814 g/t AgEq over 1.10 mTW (2,900 g/t silver and 16.55 g/t gold)
"Ongoing drilling at
Copala
continues to demonstrate exceptional continuity of high-grade
mineralization,"
commented
Michael Konnert
, President & CEO.
"The recently completed infill-
drilling program serves to incrementally de-risk the local resource through tighter spaced drilling
and provides representative sample material for metallurgical testing. Furthermore, recently
announced step-out drilling beyond the resource wireframe, continues to highlight
Copala's
near-
term growth potential. We currently have three drill rigs targeting the
Copala
/Cristiano area, where
near-surface, high-grade mineralization remains open laterally and at depth."
Figure 1: Plan map of recent drilling centered on the Copala structure (CNW Group/Vizsla Silver
Corp.)
The Copala Structure, located in the western portion of the
Panuco
district, is situated ~800m to the
east of the Napoleon structure.
Copala
currently hosts Indicated Resources of 51.1 Moz AgEq at
516 g/t AgEq and Inferred Resources of 55.4 Moz AgEq at 617 g/t AgEq within a broad envelope of
vein-breccia interlayered with host rock, up to 82 metres thick. Interpretations by Vizsla geologists
indicate
Copala
has an average dip of ~46° to the east (~35° in its northern sector and steepening
to ~52° in the southern sector).
Drilling at
Copala
has now traced mineralization along approximately 1,100 metres of strike length
and approximately 400 metres down dip. High-grade silver-gold mineralization remains open laterally
to the north and southeast, as well as down dip to the east. The recently completed infill-drilling
program consisted of 25 holes drilled at 25 metre centers designed to assess grade continuity and
to provide sample material for metallurgical tests. Infill-holes CS-22-241, CS-22-246, CS-22-248
and CS-22-251 reported today, have confirmed strong continuity of structures and high-grades at
tighter drill-hole spacing.
Previously reported drillholes CS-22-202, CS-22-207 and CS-22-219, indicate an uplifted block of
basement metasediments in fault-contact with andesites and diorite on the east side of
Copala
(see
figures 2 and 3). New interpretations suggest between ~300 to 350 metres of vertical displacement
by the fault. This information, in conjunction with ongoing data collection, are being used to define a
target elevation for
Copala
type mineralization on the footwall side (east) of the fault. An uplifted
block to the east of the current
Copala
resource has the potential to host
Copala
type mineralization
at a shallower elevation, closer to surface. Vizsla plans to test this hypothesis with drillholes collared
on the footwall side of the fault during Q1 2023.
Figure 2: Inclined longitudinal section for Copala structure with drillhole pierce points. The section is
1x along strike to 1.4x along the dip to compensate for the average 46-degree dip of Copala. (CNW
Group/Vizsla Silver Corp.)
Figure 3: Cross section showing Copala structure and Cristiano vein with completed infill drilling on
Copala. (CNW Group/Vizsla Silver Corp.)
Drillhole
From
To
Downhole
Length
Estimated
True width
Ag
Au
AgEq
(m)
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
CS-22-239
No Significant Results
CS-22-240
200.65
214.50
13.85
8.00
209
1.30
282
Includes
209.90
214.50
2.60
1.50
728
3.52
915
CS-22-240
229.50
234.00
4.50
2.60
246
1.33
318
Includes
229.50
231.00
1.50
0.87
342
1.63
428
CS-22-241
82.50
91.95
9.45
4.30
758
8.62
1,287
Includes
84.00
86.30
2.30
1.05
798
12.93
1,616
Includes
86.30
88.20
1.90
0.86
2,347
21.77
3,653
CS-22-242
540.90
542.45
1.55
1.40
145
0.50
169
CS-22-243
No Significant Results
CS-22-244
112.50
124.50
12.00
6.95
316
2.19
442
Includes
117.00
119.40
2.40
1.39
792
4.86
1,064
Includes
123.00
124.50
1.50
0.87
647
4.91
933
CS-22-245
138.55
142.20
3.65
2.60
701
3.89
915
Includes
139.30
141.00
1.70
1.21
853
5.36
1,155
CS-22-246
136.85
163.20
26.35
15.00
1,142
7.20
1,548
Includes
138.00
143.40
5.40
3.07
2,878
17.72
3,872
Includes
150.85
154.90
4.05
2.31
2,331
17.60
3,356
CS-22-247
60.60
69.20
8.60
4.30
171
2.01
295
Includes
62.05
64.90
2.85
1.43
414
5.42
750
CS-22-248
141.60
146.75
5.15
3.89
227
1.17
290
Includes
142.50
144.00
1.50
1.13
424
2.05
533
CS-22-248
165.15
192.40
27.25
20.60
643
2.80
787
Includes
165.15
166.50
1.35
1.02
912
3.71
1,099
Includes
184.00
184.35
0.35
0.26
2,670
10.55
3,195
Includes
186.00
192.40
6.40
4.84
2,099
9.20
2,573
CS-22-249
No Significant Results
CS-22-251
172.50
207.00
34.50
18.00
602
2.53
731
Includes
186.45
187.50
1.05
0.55
897
2.93
1,032
Includes
190.25
194.60
4.35
2.27
3,421
14.51
4,161
Includes
198.80
200.15
1.00
0.52
931
3.45
1,099
CS-22-252
287.50
290.60
3.10
2.70
487
1.62
562
Includes
287.50
288.95
1.45
1.26
971
3.12
1,114
CS-23-253
295.40
297.50
2.10
2.10
1,920
10.91
2,522
Includes
295.40
296.50
1.10
1.10
2,900
16.55
3,814
Table 1:
Downhole drill intersections from the holes reported for the new splay vein at the foot wall
of
Copala
.
Note: AgEq = Ag g/t x Ag rec. + (Au g/t x Au Rec x Au price/gram)/Ag price/gram. Metal price assumptions are $24.00/oz silver and $1,800/oz gold and metallurgical recoveries
assumed are 93% for silver and 90% for gold. Gold and silver metallurgical recoveries used in this release are from metallurgical test results of the Napoleon vein (see press
release dated February 17, 2022).
Drillhole
Easting
Northing
Elevation
Azimuth
Dip
Depth
CS-22-239
404,702
2,586,663
619
254.7
-72.8
300.0
CS-22-240
404,705
2,586,834
584
270.3
-84.4
297.0
CS-22-241
404,631
2,586,810
544
90.2
-89.5
126.0
CS-22-242
405,084
2,586,574
700
286.8
-57.3
598.5
CS-22-243
404,731
2,586,834
593
270.0
-82.0
286.5
CS-22-244
404,656
2,586,810
555
268.9
-84.2
184.5
CS-22-245
404,680
2,586,785
553
275.9
-80.3
178.5
CS-22-246
404,656
2,586,810
555
90.7
-87.0
210.0
CS-22-247
404,631
2,586,785
542
270.0
-90.0
87.0
CS-22-248
404,706
2,586,784
567
271.9
-79.3
222.0
CS-22-249
404,657
2,586,785
558
271.0
-83.0
163.5
CS-22-251
404,706
2,586,784
566
274.0
-85.0
241.9
CS-22-252
404,778
2,586,757
441
303.0
-68.0
330.0
CS-23-253
404,834
2,587,002
596
259.5
-60.0
340.5
Table 2:
Drillhole details for the reported drillholes. 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 6,761-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 for the Panuco
Project with the updated Mineral Resource Estimate is being prepared and expected to be filed on
SEDAR within 45 days of our recent Mineral Resource Update published on
January 24, 2023
.
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 has completed over 250,000 metres of drilling at
Panuco
leading
to the discovery of several new high-grade veins. For 2023, Vizsla 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.
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
In accordance with NI 43-101,
Martin Dupuis
, P.Geo., COO, is the Qualified Person for the
Company and has reviewed and approved the technical and scientific content of this news release.
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.
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 maiden resource as well as test other high priority targets across the district.
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 the COVID-19 pandemic;
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 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 Silver's management discussion and
analysis. Readers are cautioned against attributing undue certainty to forward–looking statements or
forward-looking information. Although Vizsla Silver 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 Silver 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], Website:
www.vizslasilvercorp.ca
CO: Vizsla Silver Corp.
CNW 08:00e 01-MAR-23