Vizsla Silver Intercepts High-Grade Mineralization at Napoleon - 1,085 G/T Ageq over 4.00 Metres
VIZSLA SILVER INTERCEPTS HIGH-GRADE
MINERALIZATION AT NAPOLEON - 1,085 G/T
AGEQ OVER 4.00 METRES
VANCOUVER, BC
,
April 13, 2023
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA)
(
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to report results from six 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 a part of Vizsla's ongoing 90,000 metre resource infill and
expansion/discovery-focused drill program.
Highlights
NP-22-343 returned
1,085 grams per tonne (g/t) silver equivalent (AgEq) over 4.00 metres
true width (mTW)
(590 g/t silver, 5.15 g/t gold, 1.00 % lead and 4.39 % zinc), including:
3,185 g/t AgEq over 0.98 mTW (2,025 g/t silver, 15.74 g/t gold, 1.71 % lead and 5.22 %
zinc), and
863 g/t AgEq over 6.10 mTW (156 g/t silver, 3.63 g/t gold, 7.88 % lead and 6.63 % zinc),
including:
1,899 g/t AgEq over 1.11 mTW (255 g/t silver, 11.69 g/t gold, 19.25 % lead and 8.40 %
zinc), and
1,251 g/t AgEq over 1.69 mTW (290 g/t silver, 4.72 g/t gold, 9.26 % lead and 10.71 %
zinc)
NP-22-344 returned
527 g/t AgEq over 3.05 mTW
(157 g/t silver, 2.55 g/t gold, 0.81 % lead
and 5.08 % zinc), including:
705 g/t AgEq over 1.26 mTW (259 g/t silver, 4.88 g/t gold, 0.74 % lead and 3.11 % zinc);
and
NP-23-353 returned
1,401
g/t AgEq
over 1.00
mTW
(532 g/t silver, 8.96 g/t gold, 1.46 % lead
and 7.13 % zinc)
"The Napoleon Vein was the first major discovery made by Vizsla at
Panuco
in 2020,"
commented
Michael Konnert
, President and CEO.
"We have now expanded the mineralized footprint of
Napoleon area to over two and a half kilometres along strike and outlined a resource of 41.3
million ounces AgEq Indicated and 28.7 million ounces AgEq Inferred. With a local exploration
model that continues to be validated through ongoing drilling, and new high-grade results from the
hanging wall vein splays that warrant further step out drilling at depth and along strike, we continue
to view the Napoleon Area as a primary target for future resource growth and development. Of the
seven drill rigs currently turning on the property, infill
drilling continues at Napoleon with one rig."
Figure 1: Plan map of recent drilling along the La Luisa 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 Hanging Wall 1 splay (HW splay 1) forms a cymoid
loop with the main Napoleon Vein, as shown in Figure 3, whereas Hanging Wall 2 (HW splay 2)
comes off and diverges from main Napoleon at depth (Figure 4).
The results indicate the potential for additional high-grade gold and silver at depth and along strike in
some hanging wall splays which remain open. Results from hole NP-22-343 warrant follow up drilling
to the north and at depth along Hanging Wall 2 (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. The section is inclined along the dip of the
structure. (CNW Group/Vizsla Silver Corp.)
Figure 3: Longitudinal section of the Hanging Wall 1, vein splay with Mineral Resources along main
Napoleon and the overlapping hanging wall splays. The section is inclined along the dip of the
structure. (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)
(m)
(g/t)
(g/t)
%
%
(g/t)
NP-22-343
392.40
397.10
4.70
4.00
590
5.15
1.00
4.39
1,085
HW 2
Includes
393.35
394.50
1.15
0.98
2,025
15.74
1.71
5.22
3,185
NP-22-343
525.65
534.70
9.05
6.10
156
3.63
7.88
6.63
863
HW 1
Includes
525.65
527.30
1.65
1.11
255
11.69
19.25
8.40
1,899
Includes
530.50
533.00
2.50
1.69
290
4.72
9.26
10.71
1,251
NP-22-343
557.80
564.95
7.15
5.00
99
1.44
1.25
5.09
410
Napoleon
Includes
557.80
559.75
1.95
1.36
157
2.81
0.81
9.57
707
Includes
561.25
562.55
1.30
0.91
103
1.32
3.26
6.68
523
NP-22-344
330.00
332.00
2.00
1.70
268
1.41
0.20
0.28
360
HW 4
NP-22-344
391.30
394.70
3.40
3.05
157
2.55
0.81
5.08
527
HW 2
Includes
391.30
392.70
1.40
1.26
259
4.88
0.74
3.11
705
NP-22-344
No significant values
HW 1
NP-22-344
No significant values
Napoleon
NP-22-349
No significant values
HW 3
NP-22-349
No significant values
HW 2
NP-22-349
442.35
446.85
4.50
3.00
133
0.66
0.21
0.48
192
HW 1
NP-22-349
No significant values
Napoleon
NP-23-353
364.65
365.40
0.75
0.51
85
0.46
0.63
0.51
147
HW 2
NP-23-353
456.30
457.80
1.50
1.00
532
8.96
1.46
7.13
1,401
HW 1
NP-23-353
504.00
509.10
5.10
3.10
63
0.55
0.93
3.09
235
Napoleon
NP-23-360A
586.35
601.00
14.65
10.65
54
0.93
0.16
0.82
148
Napoleon
Includes
586.35
587.45
1.10
0.80
95
3.36
0.38
1.68
387
Includes
588.45
589.35
0.90
0.65
142
1.01
0.26
2.85
311
Includes
594.35
595.05
0.70
0.51
201
2.02
0.28
1.31
379
Includes
600.40
601.00
0.60
0.44
352
7.25
0.49
2.96
939
NP-23-365A
Pending assays
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-22-343
403,830
2,586,364
442
270
-61
680.5
NP-22-344
403,830
2,586,364
442
270
-65
651.0
NP-22-349
403,771
2,586,258
442
275
-64
543.8
NP-23-353
403,800
2,586,265
429
274
-66
657.0
NP-23-360A
403,965
2,586,221
456
271
-57
660.0
NP-23-365A
403,888
2,586,230
434
270
-49
636.0
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 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.
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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CO: Vizsla Silver Corp.
CNW 08:00e 13-APR-23