Vizsla Silver Intercepts 646 G/T Ageq over 10.00 Metres at Napoleon
VIZSLA SILVER INTERCEPTS 646 G/T AGEQ
OVER 10.00 METRES AT NAPOLEON
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC
,
Aug. 23, 2023
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA)
(
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to report results from 11 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 results are centered on the western portion
of the district and are part of Vizsla's ongoing 90,000 metre resource infill and expansion/discovery-
focused drill program.
Highlights
NP-23-388 returned
646 grams per tonne (g/t) silver equivalent (AgEq) over 10.00 metres
true width (mTW)
(217 g/t silver, 3.03 g/t gold, 1.44 % lead and 5.44 % zinc),
including: 3,625 g/t AgEq over 0.95 mTW (1,590 g/t silver, 25.50 g/t gold, 7.28 % lead and
5.80 % zinc),
and 1,323 g/t AgEq over 0.78 mTW (159 g/t silver, 0.89 g/t gold, 4.97 % lead and 26.70 %
zinc)
NP-23-391 returned
1,568 g/t AgEq over 1.90 mTW
(908 g/t silver, 7.37 g/t gold, 1.62 % lead
and 4.91 % zinc),
including: 2,205 g/t AgEq over 0.65 mTW (1,500 g/t silver, 8.96 g/t gold, 2.05 % lead and
3.98 % zinc)
And
648
g/t AgEq
over 3.20
mTW
(559 g/t silver, 1.53 g/t gold, 0.23 % lead and 0.49 % zinc),
including: 1,720 g/t AgEq over 0.96 mTW (1,500 g/t silver, 3.89 g/t gold, 0.61 % lead and
1.22 % zinc)
NP-23-392 returned
989 g/t AgEq over 2.50 mTW
(527 g/t silver, 3.78 g/t gold, 2.13 % lead
and 4.98 % zinc),
including: 2,465 g/t AgEq over 0.69 mTW (1,500 g/t silver, 9.97 g/t gold, 5.25 % lead and
6.66 % zinc).
"Infill and expansionary drilling targeting the southern extent of Napoleon continues to intersect
high silver and gold grades on both the main vein and its overlapping splay structures,"
commented
Michael Konnert
, President and CEO.
"We have now identified several splay veins
branching off the main Napoleon structure located within both the footwall and hanging wall that
remain open for future expansion. Most notable is the shallow dipping Hanging Wall 4 structure
which returned 646 grams per tonne silver equivalent over ten meters true width and is open down
dip. We continue to view the Napoleon Area as a primary target for future resource growth and
development. Of the six drill rigs currently turning on the property, infill
drilling continues at
Napoleon with one rig. In addition to drilling, we are pleased to announce Vizsla has achieved 1.5
million work hours without a lost time incident at
Panuco
. This is yet another major milestone for
the Company and is a testament to the focus and dedication of every Vizsla employee and
contractor working on the Project."
Figure 1: Plan map of recent drilling along 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 of
the mineralization controls along the Napoleon vein corridor. Observations based on metal zonation
and alteration continue to support the interpretation that the corridor is tilted where the southern
extent of drilling is at the top of the mineralized horizon, near surface (Figure 5).
Previously reported high-grade gold assay values near surface support the model (see press
releases dated
December 16, 2021
and
March 29, 2022
). Infill drilling assay results disclosed in this
news release, show additional high-grade silver and gold values on vein splays at the hanging wall of
the main Napoleon structure. The vein splays are situated between 25 to 120 metres into the
hanging wall and typically contain high lead and zinc concentrations in addition to the precious metal
values. Results from recent drilling suggests that the shallow dipping Hanging Wall 4 splay (HW
splay 4) remains open down dip to the east (Figure 4). Results from hole NP-23-388 warrant follow
up drilling to the east and at depth along Hanging Wall 4 (long section not shown). Vizsla continues
working on structural and 3D geologic modelling to design specific drill holes for the exploration of
the vein splays (HW splay 2 and HW splay 4).
Figure 2: Longitudinal section of the Napoleon Main Vein with mineral resources along main
Napoleon and the overlapping hanging wall splays. (CNW Group/Vizsla Silver Corp.)
Figure 3: Longitudinal section of the Hanging Wall 2 (HW 2) Vein splay with mineral resources along
main Napoleon and the overlapping hanging wall splays. (CNW Group/Vizsla Silver Corp.)
Figure 4: Cross section highlighting recent drill intercepts on Napoleon main and vein splays. (CNW
Group/Vizsla Silver Corp.)
Figure 5: Napoleon Vein Corridor Exploration Model Longitudinal Section with pierce points on
Napoleon main. (CNW Group/Vizsla Silver Corp.)
Drillhole
From
To
Downhole
Length
Estimated
True
width
Ag
Au
Pb
Zn
AgEq
Vein
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
%
%
(g/t)
NP-23-365A
No significant values
HW 7
NP-23-365A
No significant values
HW 2
NP-23-365A
454.65
455.15
0.5
0.45
178
8.33
0.07
0.17
736
Napoleon
NP-23-365A
No significant values
FW 1
NP-23-365A
496.5
497.5
1
0.85
290
1.71
1.05
1.56
473
FW 2
NP-23-370
346.1
346.65
0.55
0.45
597
0.72
0.02
0.04
606
HW 6
NP-23-370
No significant values
HW 2
NP-23-370
432.05
433.25
1.2
1
349
1.58
0.05
0.13
437
Napoleon
NP-23-374
303.9
306.05
2.15
1.7
90
0.95
0.02
0.03
149
HW 7
NP-23-374
No significant values
HW 2
NP-23-374
527.9
529.25
1.35
1
34
0.32
0.02
0.02
173
Napoleon
NP-23-374
No significant values
FW 2
NP-23-374
585.8
586.25
0.45
0.45
433
2.92
0.83
1.19
667
FW 3
NP-23-378
555
556
1
0.9
1,135
1.29
1.14
4.74
1,348
HW 2
NP-23-378
563.8
569
5.2
4.3
73
1.42
0.46
1.24
223
Napoleon
Includes
566.9
568
1.1
0.91
284
1.92
1.44
3.28
555
NP-23-378
575.9
577.5
1.6
1.1
1,805
16.56
0.2
0.38
2,817
FW 1
Includes
576.5
577.5
1
0.69
2,780
26.1
0.29
0.55
4,376
NP-23-378
588
588.6
0.6
0.46
184
1.48
0.6
15.9
865
FW 2
NP-23-380
317.05
322.45
5.4
4.1
111
0.64
0.01
0.01
147
HW 7
NP-23-380
554.2
555.7
1.5
1.35
551
1.08
1.29
6.23
849
HW 2
NP-23-380
581.25
581.7
0.45
0.4
346
2.21
0.8
4.29
650
Napoleon
NP-23-383
No significant values
HW 7
NP-23-383
616.15
618.1
1.95
1.27
207
2.37
4.43
14.37
1,005
HW 2
Includes
616.8
617.8
1
0.65
270
4.15
8.4
23.2
1,621
NP-23-383
636.25
637
0.75
0.7
154
1.37
1.04
4.21
419
Napoleon
NP-23-386
140.9
141.85
0.95
0.78
218
0.24
0.21
0.43
241
HW 7
NP-23-386
410.35
410.75
0.4
0.3
430
1.59
0.08
0.22
517
HW 2
NP-23-386
414.35
415.6
1.25
0.85
177
0.73
0.11
0.25
226
Napoleon
NP-23-386
536.8
537.25
0.45
0.4
444
10.3
0.46
1.11
1,162
FW 3
NP-23-388
No significant values
HW 5
NP-23-388
426.25
437.8
11.55
10
217
3.03
1.44
5.44
646
HW 4
Includes
434.8
435.9
1.1
0.95
1,590
25.5
7.28
5.8
3,625
Includes
435.9
436.8
0.9
0.78
159
0.89
4.97
26.7
1,323
NP-23-388
556.8
559
2.2
1.95
31
0.59
1.46
6.36
343
HW 2
NP-23-388
No significant values
Napoleon
NP-23-391
No significant values
HW 7
NP-23-391
420.1
424.1
4
3.2
559
1.53
0.23
0.49
648
HW 2
Includes
422.35
423.55
1.2
0.96
1,500
3.89
0.61
1.22
1,720
NP-23-391
No significant values
Napoleon
NP-23-391
483.6
484.85
1.25
1
64
0.72
0.81
0.77
160
FW 1
NP-23-391
526.15
528.2
2.05
1.9
908
7.37
1.62
4.91
1,568
FW 2
Includes
526.15
526.85
0.7
0.65
1,500
8.96
2.05
3.98
2,205
NP-23-392
408.1
410.65
2.55
2.5
527
3.78
2.13
4.98
989
HW 4
Includes
409.25
409.95
0.7
0.69
1,500
9.97
5.25
6.66
2,465
NP-23-392
450.5
451.5
1
0.95
258
1.62
1.95
15.45
967
HW 3
NP-23-392
No significant values
HW 2
NP-23-392
644.6
646.6
2
1.55
40
1.96
0.62
11.4
602
Napoleon
NP-23-393
258.15
259.2
1.05
0.8
204
3.52
1.42
6.52
706
HW 4
NP-23-393
485.35
486.35
1
0.6
65
0.38
1.34
13.85
627
HW 3
NP-23-393
No significant values
Napoleon
Table 1:
Downhole drill intersections from the holes completed along the Napoleon main and vein splays.
Note: AgEq = Ag g/t x Ag rec. + ((Au g/t 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 $24.00/oz silver, $1,800/oz gold, $2,424.4/t lead and $2,975.4/t zinc.
Metallurgical recoveries assumed are 93% for silver, 90% for gold, 94% for lead and 94% for zinc. 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
NP-23-365A
403,888
2,586,230
434
270
-49
636.0
NP-23-370
403,891
2,586,232
434
258
-40
534.0
NP-23-374
403,967
2,586,189
467
267
-43
621.0
NP-23-378
403,967
2,586,189
467
268
-52
674.0
NP-23-380
403,967
2,586,189
467
268
-56
702.0
NP-23-383
403,967
2,586,189
467
270
-60
750.0
NP-23-386
403,856
2,586,035
450
271
-60
582.0
NP-23-388
403,849
2,586,432
477
253
-68
705.0
NP-23-391
403,854
2,586,086
449
271
-63
558.0
NP-23-392
403,849
2,586,432
477
270
-61
738.0
NP-23-393
403,683
2,586,973
480
251
-57
582.0
Table 2:
Napoleon vein drillhole details. Coordinates in WGS84, Zone 13.
Safety Milestone
Vizsla Silver is proud to report that it has achieved 1.5 million work hours without any lost time
incidents at
Panuco
. The Company commends the safety department, employees, and contractors
for their ongoing focus on the safety culture build over the life of the project and ensuring safe work
conditions at the work sites.
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 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
and rock samples were shipped to SGS Lab in
Durango Mexico
for sample preparation
and analysis. The ALS Zacatecas,
North Vancouver
facilities and SGS lab 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.
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.
These statements reflect Vizsla'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 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' management discussion and
analysis. Readers are cautioned against attributing undue certainty to forward
looking statements or
forward-looking information. Although Vizsla 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 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 23-AUG-23