Vizsla Silver Expands Copala 150 Metres to the South, Intercepting 1,591 G/T Ageq over 5.89 Metres
VIZSLA SILVER EXPANDS COPALA 150
METRES TO THE SOUTH, INTERCEPTING
1,591 G/T AGEQ OVER 5.89 METRES
VANCOUVER, BC
,
May 10, 2023
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA)
(
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to report new drill results from 16
expansion 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 expand the
Copala
mineralized footprint laterally by ~150m to the southeast.
Highlights
CS-23-265 returned
1,591 grams per tonne (g/t) silver equivalent (AgEq) over 5.89 metres
true width (mTW)
(1,403 g/t silver and 4.24 g/t gold)
Including 4,842 g/t AgEq over 1.62 mTW (4,245 g/t silver and 13.24 g/t gold)
And
396 g/t AgEq over 4.90 mTW
(345 g/t silver and 1.12 g/t gold)
Including 1,005 g/t AgEq over 1.24 mTW (923 g/t silver and 2.17 g/t gold)
CS-23-254 returned
2,743 g/t AgEq over 2.14 mTW
(1,319 g/t silver and 22.46 g/t gold)
Including 5,222 g/t AgEq over 1.03 mTW (2,320 g/t silver and 45.40 g/t gold)
CS-23-269 returned
1,080 g/t AgEq over 1.45 mTW (789 g/t silver and 5.13 g/t gold)
hosted
within a broader interval grading 512 g/t AgEq over 3.35 mTW
"Step-out drilling along the southern extent of
Copala
continues to deliver high-grades over broad
widths, beyond the
January 2023
resource wireframes,"
commented
Michael Konnert
, President &
CEO.
"Today's results extend the
Copala
mineralized footprint by ~150m to the south of previously
reported drilling and represents a potential shoot of new mineralization with a vertical profile of
~280m. We currently have four drill rigs targeting
Copala
, three focused on expanding the current
resource base on the south and one exploration rig testing the lateral potential, to the north. With
numerous open-ended intercepts containing very high silver and gold grades over large intervals
up to
82m
thick, the
Copala
structure remains a primary focus for both resource expansion and
exploration ahead of the next resource update planned for the fourth quarter of 2023."
Figure 1: Plan map of recent drilling centered on the Copala structure. (CNW Group/Vizsla Silver
Corp.)
The precious metals dominant
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).
Ongoing drilling at
Copala
has now traced mineralization along ~1,250 metres of strike length and
~400 metres down dip. High-grade silver-gold mineralization remains open laterally to the southeast
and north. The recently completed batch of resource expansion drilling consisted of 16 holes drilled
at ~100 m centres in the southern extent of
Copala
. Results highlight the
Copala
structure is
continuous to the southeast, beyond the
January 2023
resource, with potential to host additional
high-grade shoots down-dip. Holes CS-23-265, -270, -254, -273, and -269 all intersected precious
metals rich mineralization grading >1,000 g/t m over a vertical distance of ~280 m.
To date, Vizsla has completed ~35,000 m of its fully funded
90,000 m
2023 drill program.
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 drilling. (CNW
Group/Vizsla Silver Corp.)
Table 1:
Downhole drill intersections from the holes reported for
Copala
structure and Cristiano vein.
Drillhole
From
To
Downhole
Length
Estimated
True width
Ag
Au
AgEq
Vein
(m)
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
CS-23-254
520.00
527.75
7.75
5.72
128
0.82
175
HW splay
CS-23-254
535.40
538.30
2.90
2.14
1,319
22.46
2,743
Copala
Includes
535.40
536.80
1.40
1.03
2,320
45.40
5,222
CS-23-254
No significant assays
Cristiano
CS-23-258
No significant assays
Copala
CS-23-259
No significant assays
Copala
CS-23-259
215.90
216.30
0.40
0.38
321
1.31
387
Cristiano
CS-23-260
No significant assays
Copala
CS-23-261
No significant assays
Copala
CS-23-261
366.95
367.50
0.55
0.35
256
1.27
323
Cristiano
CS-23-263
No significant assays
Copala
CS-23-264
No significant assays
Copala
CS-23-265
380.60
388.95
8.35
5.89
1,403
4.24
1,591
Copala
Includes
386.65
388.95
2.30
1.62
4,245
13.24
4,842
CS-23-265
402.00
407.95
5.95
4.90
345
1.12
396
Cristiano
Includes
403.50
405.00
1.50
1.24
923
2.17
1,005
CS-23-267
345.00
346.50
1.50
1.15
93
0.61
127
Copala
CS-23-267
438.70
440.80
2.10
1.68
652
2.96
806
Cristiano
Includes
438.70
440.00
1.30
1.04
916
4.31
1,143
CS-23-268
No significant assays
Copala
CS-23-268
429.35
430.50
1.15
1.05
171
0.89
219
Cristiano
CS-23-269
512.45
515.80
3.35
3.35
376
2.41
512
Copala
Includes
512.45
513.90
1.45
1.45
789
5.13
1,080
CS-23-270
439.80
448.20
8.40
7.50
289
0.82
324
Copala
Includes
439.80
441.20
1.40
1.25
1,220
2.40
1,297
Includes
447.00
448.20
1.20
1.07
524
2.63
665
CS-23-270
475.50
476.40
0.90
0.75
284
1.11
339
Cristiano
CS-23-273
523.50
529.85
6.35
6.00
158
1.23
230
Copala
CS-23-274
No significant assays
Copala
CS-23-274
No significant assays
Cristiano
CS-23-275
No significant assays
Copala
CS-23-275
753.65
754.50
0.85
0.65
158
0.48
179
Cristiano
CS-23-279
No significant assays
Copala
CS-23-279
No significant assays
Cristiano
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).
Table 2:
Drillhole details for the reported drillholes. Coordinates in WGS84, Zone 13.
Drillhole
Easting
Northing
Elevation
Azimuth
Dip
Depth
CS-23-254
405,085
2,586,570
696
266.0
-63.0
661.5
CS-23-258
404,834
2,586,561
651
271.7
-62.7
321.0
CS-23-259
404,798
2,586,610
637
235.9
-44.0
237.0
CS-23-260
405,085
2,586,570
697
307.0
-68.0
708.0
CS-23-261
404,778
2,586,756
629
227.0
-68.0
421.5
CS-23-263
404,860
2,586,478
662
245.0
-50.0
333.0
CS-23-264
405,085
2,586,570
697
314.0
-62.0
795.0
CS-23-265
404,861
2,586,478
662
254.0
-69.0
433.5
CS-23-267
404,888
2,586,590
664
235.1
-65.3
582.0
CS-23-268
404,906
2,586,444
654
287.0
-71.5
538.5
CS-23-269
405,085
2,586,570
697
281.0
-66.8
678.0
CS-23-270
404,888
2,586,590
664
215.7
-71.0
691.5
CS-23-273
405,084
2,586,574
700
260.8
-69.7
730.5
CS-23-274
404,898
2,586,343
648
259.0
-45.0
411.0
CS-23-275
405,275
2,586,500
670
261.0
-52.0
810.0
CS-23-279
404,898
2,586,343
648
259.0
-59.0
477.0
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 7,189.5-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 titled "Technical
Report on the Mineral Resource Estimate Update for the Panuco Ag-Au-Pb-Zn Project, Sinaloa
State,
Mexico
" was filed on SEDAR on
March 10, 2023
, with an effective date of
January 19, 2023
was prepared by Allan Armitage, Ph.D., P.Geo., Ben Eggers, MAIG, P.Geo. and Yann Camus,
P.Eng. of SGS Geological Services.
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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/May2023/10/c2559.html
%SEDAR: 00045314E
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 10-MAY-23