Vizsla Silver Intercepts High-Grade ON Hanging-Wall Vein at Southern End of Napoleon
VIZSLA SILVER INTERCEPTS HIGH-GRADE
ON HANGING-WALL VEIN AT SOUTHERN
END OF NAPOLEON
VANCOUVER, BC
,
Dec. 1, 2022
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA)
(
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to report results from seven 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 120,000 metre resource expansion/discovery-
focused drill program.
Highlights
NP-22-320
returned 2,305 grams per tonne (g/t) silver equivalent (AgEq) over 1.55 metres
true width (mTW)
(279 g/t silver, 24.01 g/t gold, 1.82 % lead and 7.58 % zinc) including,
2,631 g/t AgEq over 1.18 mTW
(267 g/t silver, 29.10 g/t gold, 1.29 % lead and 7.18 %
zinc)
NP-22-329 returned
446
g/t AgEq
over 6.70
mTW
(222 g/t silver, 2.64 g/t gold, 0.34 % lead
and 1.16 % zinc) including,
875 g/t AgEq over 0.78 mTW
(668 g/t silver, 2.22 g/t gold, 0.49 % lead and 2.28 % zinc),
and
815 g/t AgEq over 0.78 mTW
(159 g/t silver, 9.14 g/t gold, 0.08 % lead and 0.19 % zinc)
NP-22-333 returned
696 g/t AgEq over 1.50 mTW
(378 g/t silver, 2.53 g/t gold, 0.40 % lead
and 4.29 % 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 to over two
and a half kilometres long and outlined an initial Napoleon Area resource of 36 million ounces
AgEq Indicated and 17 million ounces AgEq Inferred. With a local exploration model that continues
to be validated through ongoing drilling, and new high-grade results from the footwall and hanging
wall vein splays not included in the initial
March 2022
resource, we continue to view the Napoleon
Area as a primary target for future resource growth and development. 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 5).
Previously reported high-grade gold values closer to surface support the model (see press releases
dated
December 16, 2021
and
March 29, 2022
), while results disclosed in this news release, show
additional high precious metals grades on vein splays at the hanging wall and footwall of the main
Napoleon structure. The vein splays are situated between 25-70 metres into the hanging wall and
footwall, respectively, and merge with the main Napoleon Vein at depth. Results from recent drilling
suggests the hanging wall splay forms a cymoid loop with the main Napoleon Vein as shown in figure
3.
Deeper directional drilling in hole NP-22-320 intersected the main Napoleon Vein and footwall splay
with high base metal concentrations and relatively low precious metals, 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 1) 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, 2) support ongoing exploration potential of the hanging wall and
footwall 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 (HW Splay) on the hanging wall of the main Napoleon
Vein. The section is inclined along the dip of the structure. (CNW Group/Vizsla Silver Corp.)
Figure 4 : Longitudinal section of a vein splay (FW Splay 1) on the footwall of the main Napoleon
Vein. The section is inclined along the dip of the structure. (CNW Group/Vizsla Silver Corp.)
Figure 5: Napoleon Vein Corridor Exploration Model Longitudinal Section with pierce points. (CNW
Group/Vizsla Silver Corp.)
Figure 6: Cross section highlighting recent drill intercepts located outboard of 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-22-320
676.3
677.9
1.65
1.55
279
24.01
1.82
7.58
2,305
HW SPLAY 2
Includes
676.6
677.9
1.35
1.18
267
29.10
1.29
7.18
2,631
NP-22-320
733.5
734.3
0.80
0.80
113
0.69
0.65
6.17
390
NAPOLEON
NP-22-320
772.7
773.3
0.55
0.45
143
0.87
0.61
3.73
344
FW SPLAY 1
NP-22-322*
244.8
246.4
1.55
0.70
904
1.59
0.20
0.48
977
HW SPLAY 2
NP-22-322
388.1
391.5
3.45
2.25
32
0.62
0.22
0.64
103
HW SPLAY 1
NP-22-322*
416.8
420.1
3.30
1.50
50
1.00
0.74
3.63
267
NAPOLEON
NP-22-326
No significant values
NAPOLEON
NP-22-326
No significant values
FW SPLAY 1
NP-22-329
347.2
348.1
0.90
0.88
886
7.44
2.18
6.85
1,660
HW SPLAY 2
NP-22-329
364.5
377.4
12.95
6.70
222
2.64
0.34
1.16
446
HW SPLAY 1
Includes
367.6
369.1
1.50
0.78
668
2.22
0.49
2.28
875
Includes
370.6
372.1
1.50
0.78
159
9.14
0.08
0.19
815
NP-22-329
No significant values
NAPOLEON
NP-22-329
435.7
436.1
0.35
0.25
843
13.5
5.89
8.22
2,204
FW SPLAY 1
NP-22-333
360.1
362.9
2.75
2.10
54
1.22
0.33
1.58
203
HW SPLAY 2
NP-22-333
416.9
419.6
2.65
1.50
378
2.53
0.40
4.29
696
HW SPLAY 1
NP-22-333
No significant values
NAPOLEON
NP-22-337
No significant values
HW SPLAY 1
NP-22-337
510.1
511.6
1.50
1.25
45
0.49
0.30
2.52
174
NAPOLEON
NP-22-343
Pending assays
HW SPLAY 1
NP-22-343
Pending assays
NAPOLEON
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).
* Previously reported.
Drillhole
Easting
Northing
Elevation
Azimuth
Dip
Depth
NP-22-320
403,762
2,586,259
438
274
-57.4
465.0
NP-22-322
403,762
2,586,259
438
274
-57.4
465.0
NP-22-326
403,753
2,586,371
475
270
-53.0
501.0
NP-22-329
403,754
2,586,372
474
270
-56.5
558.0
NP-22-333
403,753
2,586,372
477
270
-60.2
609.0
NP-22-337
403,831
2,586,371
456
270
-55.0
615.0
NP-22-343
403,831
2,586,371
457
243
-62.7
680.5
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.
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], Website:
www.vizslasilvercorp.ca
CO: Vizsla Silver Corp.
CNW 08:00e 01-DEC-22