Vizsla Silver Drills New Vein at Tajitos-Copala- Intersects 2,913 G/T Ageq over 1.46 Metres
VIZSLA SILVER DRILLS NEW VEIN AT
TAJITOS-COPALA- INTERSECTS 2,913 G/T
AGEQ OVER 1.46 METRES
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC
,
Sept. 7, 2022
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA)
(
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to report results from 14 new drill holes
centered on the Cristiano Vein within the
Tajitos
-
Copala
resource area at its 100%-owned,
flagship Panuco silver-gold project ("
Panuco
" or the "
Project
") located in
Mexico
. The new drill
results support a NW-plunging high-grade zone with an average vertical extent of 250 metres and
approximate strike length of 500 metres.
Highlights
CS-22-182 returned
2,913 grams per tonne (g/t) silver equivalent (AgEq)
over
1.46 metres
true width (mTW)
(1,935 g/t silver and 15.47 g/t gold)
CS-22-128 returned 427 g/t AgEq over 2.50 mTW (299 g/t silver and 2.08 g/t gold)
Including 1,472 g/t AgEq over 0.46 mTW (995 g/t silver and 7.60 g/t gold)
CS-22-185A returned 426 g/t AgEq over 1.00 mTW (302 g/t silver and 2.02 g/t gold)
CS-22-196 returned 426 g/t AgEq over 2.16 mTW (278 g/t silver and 2.33 g/t gold)
"The Cristiano Vein, located to the adjacent southwest of
Copala
is now a priority target for
resource expansion within the
Tajitos
-
Copala
resource area,"
commented
Michael Konnert
,
President and CEO.
"We initially discovered the Cristiano structure while testing the expansion
potential of
Tajitos
. Similar to other proximal veins within the Tajitos-Copala Vein Corridor,
Cristiano is predominately silver and gold rich with only trace amounts of base metals. We
continue to be encouraged by the high-grade intercepts located in this area of the district, where
mineralization remains open in all directions. Cristiano is yet another vein along this very
productive corridor with the potential to host new resources.
Figure 1: Plan map of recent drilling centered on the Cristiano vein (CNW Group/Vizsla Silver Corp.)
The Cristiano Vein is a precious metals rich structure located at the southwestern margin of the
Copala
structure, in the western portion of the
Panuco
district. Cristiano is marked by a quartz-
carbonate epithermal-vein striking N25°W that dips sub-vertical (85°) to the NE. Drill holes
intersecting Cristiano to date, highlight a high-grade zone plunging to the NW, with an average
vertical extent of 250 metres and approximate strike length of 500 metres. The Cristiano Vein has an
estimated true thickness of 1.88 metres with a weighted average grade of 841 g/t silver equivalent.
The Cristiano Vein was initially discovered in while targeting the
Tajitos
veins, where drilling
intercepted the well-mineralized, NW-SE trending fault. Ongoing drilling has now led to new
observations and interpretations allowing Vizsla geologists to plan drill holes specifically designed to
explore Cristiano along strike and to depth. To the northwest, Cristiano intersects and offsets the
Tajitos Vein, suggesting Cristiano post-dates
Tajitos
mineralization, thus creating a drill target on the
footwall of
Tajitos
(Figure 2). Additionally, open ended intercepts to the southeast suggest
mineralization continues in this direction.
Figure 2: Longitudinal section of Cristiano vein with drill-hole pierce points (CNW Group/Vizsla Silver
Corp.)
Figure 3: Cross section showing Cristiano and Copala veins (CNW Group/Vizsla Silver Corp.)
Drillhole
From
To
Downhole
Length
Estimated
True width
Ag
Au
AgEq
Vein
(m)
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
CS-21-112*
150.65
152.5
1.85
0.90
280
1.14
343
Cristiano
CS-21-115*
232.55
234.25
1.7
1.00
1,900
11.09
2,565
Cristiano
CS-21-116*
274
283.45
9.45
3.20
1,559
7.29
1,975
Cristiano
Includes
274
277.15
3.15
1.07
2,728
13.10
3,480
Includes
277.45
281.25
3.8
1.29
1,531
6.94
1,923
CS-22-128
100
103.5
3.5
2.50
299
2.08
427
Cristiano
Includes
101
101.65
0.65
0.46
995
7.6
1,472
CS-22-131
No significant values
Cristiano
CS-22-133
No significant values
Cristiano
CS-22-139
No significant values
Cristiano
CS-22-156
75.8
79.2
3.4
2.88
92
0.45
118
Cristiano
CS-22-159
268.65
273.95
5.3
0.70
217
0.88
265
Cristiano
CS-22-163A
62
70.35
8.35
3.50
189
0.85
237
Cristiano
CS-22-165
127.3
188
28.5
1.44
96
0.93
156
Cristiano
CS-22-182
42.7
44.55
1.85
1.46
1,935
15.47
2,913
Cristiano
CS-22-185A
94.1
97.2
3.1
1.00
302
2.02
426
Cristiano
CS-22-186
Pending
Cristiano
CS-22-196
342.3
346.55
4.25
2.16
278
2.33
426
Cristiano
CS-22-201
Pending
Cristiano
CS-22-198
No significant values
Cristiano
Table1:
Downhole drill intersections from the holes reported for the Cristiano vein south 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 $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).
*
re-interpreted holes/intercepts
Drillhole
Easting
Northing
Elevation
Azimuth
Dip
Depth
CS-21-112*
404,586
2,587,043
546
219
-53.8
304.5
CS-21-115*
404,586
2,587,042
546
193
-49.3
274.5
CS-21-116*
404,586
2,587,043
546
219
-63.4
319.5
CS-22-128
404,419
2,587,212
532
243
-59.9
168
CS-22-131
404,553
2,586,908
532
302
-63
452.3
CS-22-133
404,675
2,586,751
561
276
-60.2
612
CS-22-139
404,538
2,587,042
540
302
-25
144
CS-22-156
404,675
2,586,751
561
269
-35
364.5
CS-22-159
404,676
2,586,751
561
268
-79.5
336
CS-22-163A
404,638
2,586,711
559
269
-80.7
331.5
CS-22-165
404,641
2,586,712
559
91
-85.7
339
CS-22-182
404,639
2,586,711
559
259
-54
291
CS-22-185A
404,569
2,586,883
535
290
-84.7
184.5
CS-22-186
404,577
2,586,837
537
153
-76.2
231
CS-22-196
404,718
2,586,983
579
232
-55.2
384
CS-22-198
404,718
2,586,983
579
232
-62.6
462
CS-22-201
404,718
2,586,983
579
257
-57.7
488.5
Table 2:
Drillhole details for the reported drillholes. Coordinates in WGS84, Zone 13.
*
re-interpreted holes/intercepts
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 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
,
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.
Website:
www.vizslasilvercorp.ca
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]
CO: Vizsla Silver Corp.
CNW 08:00e 07-SEP-22