Vizsla Silver Intercepts Additional Bonanza-Grade Silver at Copala - 2,640 G/T Ageq over 5.30 Metres -
VIZSLA SILVER INTERCEPTS ADDITIONAL
BONANZA-GRADE SILVER AT COPALA - 2,640
G/T AGEQ OVER 5.30 METRES -
VANCOUVER, BC
,
Dec. 14, 2022
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA)
(
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to report results from 19 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
. Today's intercepts form part of Vizsla's ongoing 2022
infill/expansionary drill program and are centered on the
Copala
and Cristiano structures in the
western portion of the district. The infill results support grade continuity in the south-central portion of
Copala
structure, while resource expansion drilling to the north and southeast continue to highlight
mineralization remains open.
Highlights
CS-22-205 returned
2,640 grams per tonne (g/t) silver equivalent (AgEq) over 5.30 metres
true width (mTW)
(2,101 g/t silver and 9.54 g/t gold)
Including 4,563 g/t AgEq over 0.58 mTW (3,080 g/t silver and 23.60 g/t gold)
CS-22-210 returned
561 g/t AgEq over 15.50 mTW
(425 g/t silver and 2.31 g/t gold)
And 2,044 g/t AgEq over 1.01 mTW (1,630 g/t silver and 7.34 g/t gold)
CS-22-216 returned
905 g/t AgEq over 8.09 mTW
(626 g/t silver and 4.48 g/t gold)
CS-22-201 returned
3,340 g/t AgEq over 1.86 mTW
(2,536 g/t silver and 13.65 g/t gold)
CS-22-217 returned
1,862 g/t AgEq over 2.71 mTW
(1,495 g/t silver and 6.56 g/t gold)
"The
Copala
structure continues to impress with high precious metals grades over very broad
widths,"
commented
Michael Konnert
, President and CEO.
"Infill drilling within the
Tajitos
-
Copala
resource area continues to highlight exceptional mineral continuity marked by multiple intervals
grading well over 1,000 grams per tonne, while expansionary drilling to the north and southeast
demonstrate a growing high-grade footprint. Additionally, at Cristiano, drilling has now traced
mineralization over 600 metres long by 300 metres deep. We note that Cristiano was not included
in the maiden resource, however, given its near surface, high-grade continuity, we expect it will
contribute materially to the pending resource update. We have had a phenomenal year of
exploration success at
Panuco
and have expanded mineralization well beyond the
March 2022
resource boundary at virtually every zone. Given the amount of new high grade drill results,
inclusion of new mineralized structures, and the fast-approaching holiday season, we have elected
to publish the resource update in early 2023. We are extremely pleased with the outcome of our
2022 programs and look forward to another outstanding year as we continue to grow and de-risk
the Panuco Project in 2023."
Figure 1: Plan map of recent drilling centered on the Copala structure. (CNW Group/Vizsla Silver
Corp.)
The Copala Structure is located in the western portion of the
Panuco
district at the northern extent of
the
Tajitos
structure.
Copala
hosts high precious metals grades (up to 11,053 g/t silver and 33.50 g/t
gold over 1.26 mTW) contained within a broader envelope of vein-breccia interlayered with host
rock, up to 82 metres thick. Ongoing interpretations by Vizsla's geologists suggest
Copala
has an
average dip of ~46° to the east (~35° in its northern sector and steepening to ~52° in the southern
sector).
Drilling at
Copala
has now traced mineralization along approximately 1,000 metres of strike length
and approximately 400 metres down dip. High-grade silver-gold mineralization remains open to the
north and southeast with ongoing detailed structural and geologic interpretations indicating the
potential for mineralization to continue into the footwall side of the Tajitos Vein. The ongoing infill-
drilling program, which consists of 25 holes drilled at 25 metre centers, was designed to assess
grade continuity and to provide sample material for future metallurgical tests. To date, infill-holes
CS-22-201, CS-22-205, CS-22-214, CS-22-216 and CS-22-218 have confirmed high-grade at
tighter spacing. Additionally, step-out holes drilled to the east, particularly holes CS-22-202, CS-22-
207 and CS-22-219, suggest an uplifted block of basement metasediments in fault-contact with
andesites and diorite (see figures 2 and 4). Vizsla´s team is working on interpretations to determine
the amount of displacement by the fault, to define a target elevation for
Copala
type mineralization
on the footwall side (east) of the fault; i.e. an uplifted block on the east creates potential for
Copala
type mineralization at shallower elevation. Vizsla plans to test this hypothesis with drill-holes collared
on the footwall side of the fault.
The Cristiano Vein is a precious metals rich structure located at the southwestern margin of the
Copala
structure. 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 vertical extent of 300 metres and approximate strike length of 600 metres.
The Cristiano Vein ranges in thickness from 0.7 mTW to 3.5 mTW, with a weighted average grade
of 542 g/t silver equivalent.
The Cristiano Vein was initially discovered while targeting the
Tajitos
-
Copala
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 3). Additionally, open ended intercepts to the southeast suggest
mineralization continues in this direction.
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: Inclined longitudinal section for Cristiano vein with drillhole pierce points. (CNW
Group/Vizsla Silver Corp.)
Figure 4: Cross section showing Copala, Cristiano and Tajitos 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-22-201
212.25
214.80
2.55
2.18
237
1.74
346
Copala
Includes
212.25
213.55
1.30
1.11
427
3.22
629
CS-22-201
392.15
396.00
3.85
1.86
2,536
13.65
3,340
Cristiano
Includes
392.90
393.30
0.40
0.19
7,740
57.60
11,343
Includes
393.70
394.60
0.90
0.43
6,220
27.20
7,742
CS-22-202
No significant values
Copala
CS-22-203
No significant values
Copala
CS-22-204
132.00
158.70
26.70
20.46
175
0.99
234
Copala
Includes
147.25
148.50
1.25
0.96
569
2.92
739
Includes
153.30
154.30
1.00
0.77
454
2.43
597
Includes
156.50
157.50
1.00
0.77
673
3.42
872
Includes
157.50
158.70
1.20
0.92
575
4.08
828
CS-22-205
283.00
288.50
5.50
5.30
2,101
9.54
2,640
Copala
Includes
284.60
285.20
0.60
0.58
3,080
23.60
4,563
CS-22-205
553.00
553.30
0.30
0.16
85
0.24
96
Cristiano
CS-22-206
181.10
185.80
4.70
3.11
168
0.90
221
Copala
CS-22-207
No significant values
Copala
CS-22-208
No significant values
Copala
CS-22-208
484.00
485.50
1.50
1.12
347
0.38
350
FW Splay
Includes
485.05
485.50
0.45
0.34
873
0.99
883
CS-22-209
148.00
166.05
18.05
10.00
74
0.56
109
Copala
Includes
163.45
164.20
0.75
0.42
639
5.22
970
CS-22-210
117.75
140.70
22.95
15.50
425
2.31
561
Copala
Includes
120.30
120.90
0.60
0.41
2,710
22.30
4,125
Includes
130.60
131.40
0.80
0.54
1,285
7.24
1,716
Includes
131.40
132.00
0.60
0.41
1,800
9.69
2,371
Includes
132.55
134.05
1.50
1.01
1,630
7.34
2,044
CS-22-211
No significant values
Copala
CS-22-211
240.00
241.85
1.85
0.55
154
2.24
304
Cristiano
CS-22-211
283.25
284.50
1.25
1.25
1,103
3.76
1,296
Tajitos
CS-22-212
No significant values
Copala
CS-22-213
545.10
548.60
3.50
3.20
294
1.19
358
Copala
Includes
546.50
547.95
1.45
1.33
308
2.08
436
CS-22-214
114.00
121.05
7.05
3.90
593
4.07
845
Copala
Includes
115.50
116.80
1.30
0.72
2,020
13.50
2,850
Includes
116.80
117.50
0.70
0.39
681
4.22
937
CS-22-215
112.50
115.50
3.00
2.35
216
0.66
248
Copala
Includes
114.00
115.50
1.50
1.18
335
1.03
385
CS-22-216
181.00
194.50
13.50
8.09
626
4.48
905
Copala
Includes
184.65
186.00
1.35
0.81
1,250
14.00
2,170
Includes
186.00
186.95
0.95
0.57
2,230
18.10
3,376
Includes
186.95
188.20
1.25
0.75
1,170
7.54
1,631
CS-22-217
No significant values
Copala
CS-22-217
325.50
330.35
4.85
2.71
1,495
6.56
1,862
Cristiano
Includes
327.60
328.75
1.15
0.64
1,295
4.59
1,535
Includes
328.75
329.10
0.35
0.20
13,118
63.70
16,783
CS-22-218
209.60
215.30
5.70
4.88
197
1.86
317
Copala
Includes
211.50
213.00
1.50
1.28
283
3.19
493
Includes
213.00
214.15
1.15
0.98
280
2.58
446
CS-22-219
No intercepted
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-22-201
404,724
2,586,986
595
257
-57.7
462.0
CS-22-202
405,087
2,586,905
646
282
-63.6
634.5
CS-22-203
404,896
2,586,778
666
302
-75.0
556.5
CS-22-204
404,539
2,587,280
553
304
-30.8
250.2
CS-22-205
404,840
2,587,003
590
260
-50.0
596.5
CS-22-206
404,541
2,587,280
552
347
-35.0
237.0
CS-22-207
405,087
2,586,905
646
286
-68.2
628.0
CS-22-208
404,896
2,586,778
666
299
-67.9
505.5
CS-22-209
404,541
2,587,280
553
5
-43.3
257.0
CS-22-210
404,482
2,587,238
553
323
-30.0
451.0
CS-22-211
404,643
2,587,058
557
277
-39.5
349.5
CS-22-212
405,087
2,586,905
646
263
-64.9
658.5
CS-22-213
405,084
2,586,574
700
295
-58.8
637.5
CS-22-214
404,632
2,586,883
568
91
-89.1
208.5
CS-22-215
404,482
2,587,237
553
298
-30.0
300.0
CS-22-216
404,681
2,586,877
582
271
-87.0
234.0
CS-22-217
404,643
2,587,058
557
260
-54.0
452.0
CS-22-218
404,701
2,586,892
595
271
-84.6
270.0
CS-22-219
405,087
2,586,905
565
262
-71.4
681.0
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.
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], Website:
www.vizslasilvercorp.ca
CO: Vizsla Silver Corp.
CNW 08:00e 14-DEC-22