Vizsla Silver Expands Mineralization at Southern End of Napoleon
VIZSLA SILVER EXPANDS
MINERALIZATION AT SOUTHERN
END OF NAPOLEON
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC, Oct. 12, 2022 /CNW/ - Vizsla Silver Corp. (TSX-V: VZLA)
(NYSE: VZLA) (Frankfurt: 0G3) ("Vizsla" or the "Company") is pleased to report
results from 12 new drillholes targeting the southern extension of the Napoleon
Vein, at its 100%-owned flagship Panuco silver-gold project ("Panuco") located
in Mexico. The new drill holes report high grade silver and gold intercepts from
the footwall vein splays and further support grade continuity to the south along
the main Napoleon Vein.
Highlights
NP-22-316 returned 2,767 grams per tonne (g/t) silver equivalent (AgEq)
over 1.00 metres true width (mTW) (2,642 g/t silver, 1.60 g/t gold, 1.87 %
lead and 4.08 % zinc) and,
999 g/t AgEq over 1.00 mTW (740 g/t silver, 3.63 g/t gold, 0.23 % lead
and 1.23 % zinc)
NP-22-315 returned 396 g/t AgEq over 1.86 mTW (354 g/t silver, 0.60 g/t
gold, 0.19 % lead and 0.51 % zinc) and,
1,413 g/t AgEq over 1.81 mTW (1,268 g/t silver, 3.12 g/t gold, 0.06 %
lead and 0.22 % zinc)
NP-22-306 returned 359 (g/t) AgEq over 1.52 mTW (235 g/t silver, 1.45 g/t
gold, 0.55% lead and 0.61 % zinc) and,
775 g/t AgEq over 0.91 mTW (320 g/t silver, 5.77 g/t gold, 0.55% lead
and 1.34 % zinc)
"We continue to view the southern extent of Napoleon as a primary target for
near-term resource growth at Panuco," commented Michael Konnert, President
and CEO. "With a local exploration model that continues to be validated through
ongoing drilling, exploration along the southern extent of Napoleon has become
increasingly predictive. We have now defined several high-grade shoots along the
2.5 kilometre long corridor which remain open for further expansion both along
strike and at depth. Additionally, high-grade results from the footwall vein splays
demonstrate that the Napoleon Vein Corridor is more than one structure, it is a
vein system with increased potential to delineate resources. Of the nine drill rigs
currently turning on the property, expansion/conversion drilling continues at
Napoleon with two rigs, including one direction rig."
Figure 1: Plan map of recent drilling along the southern extent of the Napoleon
vein. (CNW Group/Vizsla Silver Corp.)
Details of the Napoleon Southern Extent
Infill and step-out (expansionary) drilling completed to date has led to an
improved understanding on the controls to mineralization along the Napoleon vein
corridor. Observations based on metal zonation and alteration continue to
suggest the corridor has been tilted with the southern extent being at the top of
the mineralized horizon, near surface (Figure 3).
Previously reported high-grade gold values closer to surface support the model
(see press release dated December 16, 2021), while results disclosed in this
news release, show additional high precious metals grades on vein splays at the
footwall of the main Napoleon structure. The new vein splays are situated
between 50-70 metres into the footwall and merge with the main Napoleon vein at
depth.
Deeper directional drilling in holes NP-22-307 and NP-22-314 intersected the
Napoleon structure with high base metal and low precious metal concentrations,
as predicted by the model. Directional drilling remains ongoing at the southern
end of Napoleon, testing both the main Napoleon structure and its vein splays to
depth within the "precious metals rich" horizon.
These results serve to further demonstrate the continuity of high-grade silver and
gold mineralization along the southern extent of the main Napoleon vein, outside
of the March 2022 mineral resource boundary and support ongoing exploration
potential of the footwall and hanging wall vein splays. Vizsla has completed
structural and 3D geologic modelling of the vein splays and plans to further drill
step-out holes specifically designed to test mineral continuity along strike and to
depth.
Figure 2: Longitudinal section of the main Napoleon Vein. The section is inclined
along the dip of the structure. (CNW Group/Vizsla Silver Corp.)
Figure 3& : Longitudinal section of a vein splay (FW Splay 1) on the footwall of
main Napoleon. The section is inclined along the dip of the structure. (CNW
Group/Vizsla Silver Corp.)
Figure 4: Napoleon Vein Corridor Exploration Model Longitudinal Section with
pierce points. (CNW Group/Vizsla Silver Corp.)
Figure 5: Cross section highlighting recent drill intercepts located below the
inferred resource boundary at the southern extent of Napoleon. (CNW
Group/Vizsla Silver Corp.)
Drillhole
From To Downhole Length Estimated True width Ag Au Pb Zn AgEq
Vein
(m) (m) (m) (m) (g/t) (g/t) % % (g/t)
NP-22-306 482.45 485.45 3.00 1.52 235 1.45 0.55 0.61 359 NAPOLEON
NP-22-306 555.25 557.05 1.80 0.91 320 5.77 0.55 1.34 775 FW SPLAY 1
NP-22-307 316.60 317.40 0.80 0.43 164 0.65 0.34 2.14 284 HW SPLAY
NP-22-307 644.40 646.15 1.75 0.95 38 0.23 0.49 4.65 230 NAPOLEON
NP-22-308 486.40 488.10 1.70 1.02 87 0.75 0.24 0.78 169 HW SPLAY
NP-22-308 567.45 568.10 0.65 0.39 24 9.67 0.08 0.67 744 HW SPLAY
NP-22-308 583.55 584.05 0.50 0.30 59 1.35 0.87 1.09 213 NAPOLEON
NP-22-308 No significant values FW SPLAY 1
NP-22-310 592.40 595.30 2.90 1.85 24 0.58 0.67 2.64 176 NAPOLEON
NP-22-313 347.35 349.20 1.85 1.23 280 2.79 0.47 2.29 555 HW SPLAY
NP-22-313 No significant values NAPOLEON
NP-22-314 No significant values NAPOLEON
NP-22-314 726.75 727.25 0.50 0.31 34 0.02 0.53 2.23 126 FW SPLAY
NP-22-315 No significant values NAPOLEON
NP-22-315 343.60 345.50 1.90 1.86 354 0.60 0.19 0.51 396 FW SPLAY 1
NP-22-315 349.15 351.00 1.85 1.81 1268 3.12 0.06 0.22 1413 FW SPLAY 2
NP-22-316 No significant values NAPOLEON
NP-22-316 390.00 391.05 1.05 1.00 2642 1.60 1.87 4.08 2767 FW SPLAY 1
NP-22-316 406.00 407.05 1.05 1.00 740 3.63 0.23 1.23 999 FW SPLAY 2
NP-22-318 281.25 282.00 0.75 0.75 395 5.03 0.02 0.04 731 NAPOLEON
NP-22-318 375.00 377.90 2.90 2.52 84 0.57 0.10 0.36 135 FW SPLAY 1
NP-22-319 309.00 310.20 1.20 1.01 150 0.36 0.19 0.21 178 NAPOLEON
NP-22-319 No significant values FW SPLAY 1
NP-22-322 244.80 246.35 1.55 0.70 904 1.59 0.20 0.48 977 HW SPLAY
NP-22-322 388.05 388.60 0.55 0.25 66 2.41 1.02 2.41 347 HW SPLAY
NP-22-322 416.80 420.10 3.30 1.50 50 1.00 0.74 3.63 267 NAPOLEON
NP-22-322 No significant values FW SPLAY 1
NP-22-323 296.10 297.15 1.05 0.75 196 8.49 0.20 0.29 808 NAPOLEON
NP-22-323 No significant values FW SPLAY 1
Table 1: Downhole drill intersections from the holes completed along the Napoleon vein.
Note: AgEq = Ag ppm x Ag rec. + (((Au ppm x Au rec. x Au price/gram) + (Pb% x Pb rec. x Pb price/t) + (Zn% x Zn rec. x Zn price/t))/Ag price/gram).
Metal price assumptions are $20.70/oz silver, $1,655/oz gold, $1,902/t lead and$2,505/t zinc. Metallurgical recoveries applied in the calculation (93%
for silver, 90% for gold, 94% for lead and 94 % for zinc), were determined for the Napoleon vein (see press release dated February 17, 2022).
Drillhole Easting Northing Elevation Azimuth Dip Depth
NP-22-306 403,852 2,586,040 453 270 -64.1 585.0
NP-22-307 403,683 2,586,974 484 280 -62.2 695.0
NP-22-308 403,918 2,586,087 447 270 -61.5 729.0
NP-22-310 403,848 2,586,432 477 269 -55.2 643.5
NP-22-313 403,816 2,586,554 451 268 -55.0 625.2
NP-22-314 403,685 2,586,981 488 280 -62.2 754.3
NP-22-315 403,762 2,586,259 439 272 -45.0 381.0
NP-22-316 403,779 2,586,307 449 275 -41.0 466.5
NP-22-318 403,753 2,586,371 477 270 -37.8 418.5
NP-22-319 403,762 2,586,259 438 272 -52.5 453.0
NP-22-322 403,762 2,586,259 438 274 -57.4 465.0
NP-22-323 403,753 2,586,371 477 270 -46.0 502.5
Table 2: Napoleon vein drillhole details. 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 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.
Panuco hosts an estimated in-situ indicated mineral resource of 61.1 Moz AgEq
and an in-situ inferred resource of 45.6 Moz AgEq. A NI 43-101 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, with an effective date of March 1, 2022 was prepared 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.
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, and
publication of a resource update in Q4 2022.
Forward ‐ looking statements and forward ‐ looking information relating to any future
mineral production, liquidity, enhanced value and capital markets profile of Vizsla,
future growth potential for Vizsla 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's
ability to operate in a safe and effective manner and its ability to obtain financing
on reasonable terms.