Vizsla Silver Expands Copala with More Bonanza-Grade Silver
VIZSLA SILVER EXPANDS COPALA WITH
MORE BONANZA-GRADE SILVER
- 2,093 G/T AGEQ OVER 10.20 METRES -
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC
,
Sept. 12, 2022
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA)
(
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to report results from nine new drill holes
targeting the
Tajitos
-
Copala
resource area at its 100%-owned, flagship Panuco silver-gold project
("
Panuco
" or the "
Project
") located in
Mexico
. The results are exclusively from the
Copala
structure
located in the western portion of the district and expand the high-grade mineralized footprint to the
north of the
March 2022
mineral resource estimate by approximately 100 metres.
Highlights
CS-22-193 returned
2,093 grams per tonne (g/t) silver equivalent (AgEq)
over
10.20 metres
true width (mTW)
(1,404 g/t silver and 10.94 g/t gold)
Including 36,195 g/t AgEq over 0.38 mTW
(23,058 g/t silver and 205.00 g/t gold)
And, 2,233 g/t AgEq over 0.91 mTW (1,550 g/t silver and 11.00 g/t gold)
And, 2,742 g/t AgEq over 0.53 mTW (2,090 g/t silver and 11.10 g/t gold)
CS-22-192 returned 877 g/t AgEq over 7.31 mTW (743 g/t silver and 2.59 g/t gold)
Including 971 g/t AgEq over 0.93 mTW (739 g/t silver and 3.94 g/t gold)
And, 3,930 g/t AgEq over 1.01 mTW (3,560 g/t silver and 8.60 g/t gold)
CS-22-200 returned 879 g/t AgEq over 14.24 mTW (632 g/t silver and 4.30 g/t gold)
Including 2,256 g/t AgEq over 0.71 mTW (1,575 g/t silver and 11.00 g/t gold)
And, 4,905 g/t AgEq over 1.07 mTW (3,510 g/t silver and 22.80 g/t gold)
"Expansion drilling at
Copala
continues to increase the known size of this robust near surface vein
system with exceptional silver and gold grades,"
commented
Michael Konnert
, President and CEO.
"We have now expanded the mineralized footprint well beyond the
March 2022
resource boundary
and it remains open in all directions. Given its proximity to
Tajitos
and the recently announced
Cristiano discovery, it is becoming increasingly clear that we are building critical mass in this area
of the district."
Figure 1: Plan map of recent drilling centered on the Copala structure. (CNW Group/Vizsla Silver
Corp.)
The Copala Vein is located at the northern extent and on the hangingwall side of the
Tajitos
structure.
Copala
is marked by high precious metals grades (up to 11,053 g/t silver and 33.50 g/t
gold over 1.26 mTW) hosted within a broader envelope, of vein-breccia interlayered with host rock,
up to 82 metres thick. Local mineralized high grade intervals of up to 20.45 mTW returning grades of
up to 1,030 g/t AgEq (780 g/t silver and 4.23 g/t gold) have been intercepted in the drilling. Ongoing
interpretations by Vizsla's geologists is defining the variability in
Copala's
dip, ranging from shallow
(~35° to the east) in its northern sector and steepening (~52° to the east) in the southern sector.
The drilling in the northwestern portion of
Copala
has traced mineralization along approximately
1,000 metres of strike length and approximately 400 metres down dip. Furthermore, today's
reported intercepts add over
100m
strike length to the NNW beyond the
March 2022
resource
boundary. The high-grade mineralized shoot remains open to the north with potential to continue on
the footwall side of the
Tajitos
vein structure. Ongoing detailed structural and geologic
interpretations indicate potential for the mineralization to also continue down dip to the east and
along strike to the south. Drill testing those extensions is the near-term focus for expansion as
Vizsla continues to explore the
Copala
area.
Drilling focused on expanding the
Copala
resource area continues to highlight the well-developed,
high-grade mineral continuity. The intercepts reported here, previously reported
Copala
intercepts,
the
Copala
2 vein-splay intercepts, situated between
Tajitos
and
Copala
, and the recently reported
NW trending Cristiano vein (press releases dated
June 21, 2022
,
May 19, 2022
and
September 7,
2022
), support the potential to discover additional blind to surface veins in the vicinity.
Vizsla Silver will be hosting a webcast to discuss exploration drilling at
Copala
at 11:00am PT
on
Tuesday, September 27
th
.
To register, please click
here
.
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, Tajitos 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-22-192
412.40
422.20
9.80
7.31
743
2.59
877
Includes
416.45
417.70
1.25
0.93
739
3.94
971
Includes
420.45
421.80
1.01
1.01
3,560
8.60
3,930
CS-22-193
171.40
184.90
13.50
10.20
1,404
10.94
2,093
Includes
177.00
177.50
0.50
0.38
23,058
205.00
36,195
Includes
177.50
178.30
0.80
0.60
991
7.01
1,426
Includes
179.35
180.55
1.20
0.91
1,550
11.00
2,233
Includes
180.55
181.25
0.70
0.53
2,090
11.10
2,742
Includes
181.70
182.50
0.80
0.60
963
7.63
1,445
CS-22-194
No significant values
CS-22-195
301.15
306.70
5.55
4.00
997
5.22
1,303
Includes
301.95
302.80
0.85
0.61
1,085
6.39
1,469
Includes
302.80
303.80
1.00
0.72
1,850
10.95
2,508
Includes
303.80
304.95
1.15
0.83
921
6.66
1,336
Includes
304.95
306.10
1.15
0.83
1,035
4.27
1,270
CS-22-196
189.75
191.80
2.05
1.87
113
1.95
246
Includes
342.30
342.75
0.45
0.41
977
3.71
1,176
Includes
343.10
343.50
0.40
0.36
141
8.73
759
Includes
343.50
344.15
0.65
0.59
778
5.62
1,128
CS-22-197
569.05
570.20
1.15
1.11
200
1.02
259
CS-22-198
205.50
209.15
3.65
2.69
80
1.13
156
CS-22-199
393.15
394.30
1.15
1.15
307
1.25
375
CS-22-200
150.00
166.00
16.00
14.24
632
4.30
897
Includes
150.00
150.80
0.80
0.71
1,575
11.00
2,256
Includes
151.85
152.90
1.05
0.93
1,120
9.08
1,695
Includes
155.05
156.30
1.25
1.11
755
5.01
1,063
Includes
162.30
163.50
1.20
1.07
3,510
22.80
4,905
CS-22-201
Pending
CS-22-202
Pending
CS-22-203
Pending
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 $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 are from metallurgical test results of the Napoleon vein (see press release
dated February 17, 2022).
Drillhole
Easting
Northing
Elevation
Azimuth
Dip
Depth
CS-22-192
404,816
2,586,676
657
9.03
-80.73
612.0
CS-22-193
404,535
2,587,285
555
323
-30.00
519.4
CS-22-194
404,853
2,586,892
642
262.84
-85.28
516.0
CS-22-195
404,787
2,586,850
632
302.97
-59.16
339.0
CS-22-196
404,718
2,586,983
579
232.17
-55.17
384.0
CS-22-197
405,087
2,586,906
479
281.76
-58.26
615.0
CS-22-198
404,718
2,586,983
579
232.16
-62.60
488.5
CS-22-199
404,816
2,586,676
657
332.28
-82.21
528.0
CS-22-200
404,535
2,587,285
555
323.51
-45.15
399.0
CS-22-201
404,718
2,586,983
579
257.4
-57.67
462.0
CS-22-202
405,087
2,586,905
646
282.01
-63.56
634.5
CS-22-203
404,896
2,586,778
666
302
-75.00
556.5
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 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 210,000 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.
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.
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 12-SEP-22