Vizsla Silver Drills 1,030 G/T Ageq over 20.45 Metres at Copala
VIZSLA SILVER DRILLS 1,030 G/T AGEQ OVER 20.45 METRES AT COPALA
- EXPANDS MINERALIZED ZONE TO 600M BY 400M
VANCOUVER, BC
,
June 21, 2022
/CNW/ -
Vizsla Silver Corp.
(TSX-V: VZLA) (NYSE: VZLA) (
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to report
results from 24 new drill holes targeting the
Tajitos
-
Copala
resource area in the western portion of its 100%-owned, flagship Panuco silver-gold project
("
Panuco
" or the "
Project
") located in
Mexico
. The results are exclusively for the
Copala
structure and expand the high-grade mineralized footprint to 600 metres
along strike by 400 metres down dip.
Highlights
CS-22-169 returned
1,030 grams per tonne (g/t) silver equivalent (AgEq)
over
20.45 metres true width (mTW)
(780 g/t silver and 4.23 g/t gold)
Includes 2,727 g/t AgEq over 1.21 mTW (2,230 g/t silver and 9.08 g/t gold)
And 9,880 g/t AgEq over 0.85 mTW (7,900 g/t silver and 35.20 g/t gold)
CS-22-155 returned 900 g/t AgEq over 14.50 mTW (667 g/t silver and 3.89 g/t gold)
CS-22-154 returned 1,331 g/t AgEq over 9.35 mTW (1,010 g/t silver and 5.44 g/t gold)
Includes 4,579 g/t AgEq over 1.30 mTW (3,548 g/t silver and 17.78 g/t gold)
CS-22-164 returned 1,242 g/t AgEq over 4.40 mTW (802 g/t silver and 6.89 g/t gold)
CS-22-160 returned 2,007 g/t AgEq over 3.40 mTW (1,642 g/t silver and 6.67 g/t gold)
"The Copala Vein continues to exceed our expectations, delivering excellent precious metal grades over very large widths,"
commented
Michael Konnert
,
President and CEO.
"When we first discovered the Copala Vein in late 2021, we knew we were on to something special given the well developed, near surface
mineral continuity. At the time of the maiden resource, eight drill holes from
Copala
contributed 6.4Moz AgEq of indicated and 18.6Moz AgEq of inferred
1
. We
have now reported 46 holes from
Copala
, effectively expanding the mineralized footprint to
600m
along strike by
400m
down dip with drill intercepts showing
mineralization remains open in all directions. We continue to target the
Copala
area with three rigs and view this portion of the district as a major focus for
resource expansion ahead of the Resource Update planned for Q4 of this year."
1
See details of mineral resource estimate in the "About Panuco Project" section, below.
Figure 1: Plan map of recent drilling centered on the Copala vein. (CNW Group/Vizsla Silver Corp.)
The Copala Vein is a shallow dipping structure located at the northern extent and on the hangingwall side of the
Tajitos
structure.
Copala
is marked by high
precious metals grades (up to 7,900 g/t silver and 35.20 g/t gold over 0.85 mTW) hosted within a broader envelope of vein-breccia up to 82 metres thick with
local mineralized pockets up to 20.45 mTW averaging 1,030 g/t AgEq (780 g/t silver and 4.23 g/t gold).
Today's reported intercepts expand a NNW-SSE striking high-grade shoot with approximate dimensions of 400 metres along strike and 200 metres down dip. This
high-grade zone remains open to the north and down-dip to the east. Ongoing detailed structural-geologic interpretations suggest mineralization continues to the
south, beyond the previously reported
Cristiano Vein
(see press releases dated
January 19, 2022
and
March 10, 2022
), and is a near-term focus for expansion
as Vizsla continues to explore this area. The Company currently has three drill rigs targeting the
Tajitos
–
Copala
resource area.
The Company is encouraged that the northern sector of the
Tajitos
–
Copala
resource area continues to grow, and the intercepts reported here, along with the
recent discovery of
Copala
2 between
Tajitos
and
Copala
(see press release dated
May 19, 2022
), demonstrates significant potential for additional blind to
surface veins in the district. Vizsla is currently negotiating additional land access and has prepared a drill plan to advance the exploration of the
Tajitos
-
Copala
area to the north. To further support its 2022 growth initiatives, Vizsla recently completed a district-scale LiDar survey over the main 6,200 ha claim block to aid in
geologic-structural mapping, drill-hole planning and geologic modelling.
Figure 2: Plan map of Copala vein with drill-hole pierce points. (CNW Group/Vizsla Silver Corp.)
Figure 3: Cross section showing Copala and Copala 2 veins. (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-22-136
NO SIGNIFICANT VALUES
CS-22-138
93.30
108.75
15.45
10.82
137
0.99
199
Includes
93.30
94.50
1.20
0.84
356
2.10
482
Includes
94.50
96.00
1.50
1.05
316
2.41
467
Includes
108.00
108.75
0.75
0.53
323
1.73
425
CS-22-140
65.30
67.10
1.80
1.40
209
1.34
291
CS-22-143
210.20
227.90
17.70
16.05
147
0.89
201
Includes
210.20
211.10
0.90
0.75
829
5.92
1197
Includes
221.15
223.55
2.40
2.15
1428
7.12
1840
CS-22-144
NO SIGNIFICANT VALUES
CS-22-145
245.15
252.25
7.10
5.20
203
1.41
290
Includes
245.15
246.90
1.80
1.20
669
4.75
964
CS-22-146
NO SIGNIFICANT VALUES
CS-22-147
285.65
300.00
14.35
12.40
68
0.52
101
Includes
292.75
293.85
1.10
0.95
207
2.54
375
CS-22-148
265.10
267.00
1.90
1.75
94
0.78
144
CS-22-150
304.50
310.45
5.95
4.50
156
0.86
207
Includes
307.05
309.00
1.95
1.60
428
1.90
535
CS-22-151
NO SIGNIFICANT VALUES
CS-22-152
248.90
258.00
9.10
7.30
152
0.74
195
Includes
255.35
258.00
2.65
2.00
286
1.65
385
CS-22-153
148.50
182.50
34.00
30.50
97
0.87
153
Includes
177.30
178.80
1.50
1.35
427
2.55
581
Includes
178.80
180.00
1.20
1.08
361
2.58
521
Includes
180.00
181.50
1.50
1.35
518
2.13
635
CS-22-154
124.45
136.50
12.05
9.35
1010
5.44
1331
Includes
124.45
126.10
1.65
1.30
3548
17.78
4579
Includes
133.00
136.50
3.50
2.85
1442
8.54
1956
CS-22-155
159.00
174.35
15.35
14.50
667
3.89
900
Includes
166.10
167.60
1.50
1.45
2480
12.70
3220
Includes
170.20
174.35
4.15
4.05
1057
5.37
1369
CS-22-157
83.00
106.60
23.60
16.10
139
1.07
206
Includes
103.50
104.75
1.25
0.85
475
4.64
776
Includes
104.75
106.25
1.50
1.02
1135
8.10
1638
CS-22-158
142.50
145.50
3.00
2.30
800
7.77
1303
CS-22-160
189.10
192.90
3.80
3.40
1642
6.67
2007
Includes
189.70
190.75
1.05
0.95
3190
11.40
3787
Includes
191.60
192.15
0.55
0.50
3730
15.40
4577
CS-22-161
128.60
133.90
5.30
4.35
398
3.41
616
Includes
129.55
130.50
0.95
0.65
856
10.10
1523
Includes
133.35
133.90
0.55
0.35
1090
3.77
1285
CS-22-162
190.80
193.65
2.85
2.65
298
2.87
484
CS-22-164
157.50
164.95
7.45
4.40
802
6.89
1242
Includes
162.10
162.90
0.80
0.47
2910
38.70
5491
Includes
162.90
164.15
1.25
0.74
1055
5.88
1404
Includes
164.15
164.95
0.80
0.47
1150
4.37
1384
CS-22-166
NO SIGNIFICANT VALUES
CS-22-167
NO SIGNIFICANT VALUES
CS-22-169
162.95
188.35
25.40
20.45
780
4.23
1030
Includes
179.55
180.30
0.75
0.60
4610
20.20
5741
Includes
180.60
182.10
1.50
1.21
2230
9.08
2727
Includes
185.70
186.45
0.75
0.60
1765
14.00
2649
Includes
186.45
187.50
1.05
0.85
7900
35.20
9880
Table 1:
Downhole drill intersections from the holes reported for the new splay vein at the foot wall of
Copala
. Holes CS-21-90 and CS-21-94 drilled in 2021 were
previously reported in press release dated
January 19
, 2022. 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
$20.70
/oz silver and
$1,655
/oz gold and metallurgical recoveries assumed are 93% for silver and 90% for gold. Gold and silver metallurgical
recoveries used in this release were estimated for the Napoleon vein (see press release dated
February 17, 2022
).
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 $20.70/oz silver and $1,655/oz gold and metallurgical recoveries assumed are 93% for silver and 90% for gold. Gold and silver metallurgical recoveries used in this release were
estimated for the Napoleon vein (see press release dated February 17, 2022).
Drillhole
Easting
Northing
Elevation
Azimuth
Dip
Depth
CS-22-136
404,528
2,587,186
558
306x
-59.8
207.0
CS-22-138
404,614
2,587,059
550
320
-64.1
258.0
CS-22-140
404,482
2,587,236
554
275
-65.9
255.0
CS-22-143
404,740
2,587,166
555
292
-54.4
298.5
CS-22-144
404,858
2,587,182
601
268
-66.9
346.3
CS-22-145
404,797
2,587,181
583
302
-54.3
481.5
CS-22-146
404,741
2,587,165
555
287
-72.4
342.0
CS-22-147
404,858
2,587,182
601
294
-53.0
373.5
CS-22-148
404,741
2,587,165
555
254
-84.6
370.5
CS-22-150
404,858
2,587,182
601
309
-62.5
460.5
CS-22-151
404,741
2,587,165
555
74
-84.0
423.0
CS-22-152
404,797
2,587,181
583
321
-51.0
380.0
CS-22-153
404,675
2,587,218
533
328
-63.0
250.5
CS-22-154
404,540
2,587,279
553
306
-43.7
277.5
CS-22-155
404,675
2,587,218
534
317
-46.8
405.0
CS-22-157
404,540
2,587,280
552
317
-65.1
339.0
CS-22-158
404,540
2,587,280
552
349
-49.1
310.5
CS-22-160
404,675
2,587,218
533
333
-40.5
403.5
CS-22-161
404,616
2,587,253
544
307
-45.7
264.0
CS-22-162
404,675
2,587,218
533
346
-53.0
456.0
CS-22-164
404,616
2,587,253
544
328
-39.5
381.0
CS-22-166
404,590
2,587,215
566
279
-68.2
216.0
CS-22-167
404,759
2,587,043
589
301
-66.5
549.0
CS-22-169
404,642
2,587,059
558
292
-77.8
390.0
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 6,754-
hectare, past producing district benefits from over 75 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 61.1 Moz AgEq and an in-situ inferred resource of 45.6 Moz AgEq The Technical
Report, titled "National Instrument 43-101 Technical Report for the Panuco Project Mineral Resource Estimate
Concordia, Sinaloa, Mexico
" was filed on SEDAR
on
April 7, 2022
, has an effective date of
March 1, 2022
and was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral
Projects ("NI 43-101") by
Tim Maunula
, P.Geo., Principal Geologist, T. Maunula & Associates Consulting Inc and
Kevin Murray
, P.Eng, Manager Process
Engineering, Ausenco.
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 140,000 metres of drilling at
Panuco
leading to the discovery of several
new high-grade veins. For 2022, Vizsla has budgeted +120,000 metres of resource/discovery-based drilling designed to upgrade and expand the maiden
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, 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.
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 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.
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CO: Vizsla Silver Corp.
CNW 08:00e 21-JUN-22