Vizsla Silver Intersects 1,011 G/T Ageq over 12.52 Metres, Expands High- Grade Mineralization at Copala Structure to 900 Metres BY 400 Metres
VIZSLA SILVER INTERSECTS 1,011 G/T AGEQ
OVER 12.52 METRES, EXPANDS HIGH-
GRADE MINERALIZATION AT COPALA
STRUCTURE TO 900 METRES BY 400
METRES
VANCOUVER, BC
,
Aug. 10, 2022
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA)
(
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to report results from 26 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
. The results are exclusively from the Copala Vein
located in the western portion of the district and expand the high-grade mineralized footprint to over
900 metres along strike by 400 metres down dip.
Highlights
CS-22-191 returned
1,011 grams per tonne (g/t) silver equivalent (AgEq)
over
12.52 metres
true width (mTW)
(706 g/t silver and 4.93 g/t gold)
Including 5,602 g/t AgEq over 1.26 mTW (3,880 g/t silver and 27.70 g/t gold)
And,
5,491 g/t AgEq over 3.28 mTW
(4,804 g/t silver and 14.23 g/t gold)
Including 12,690 g/t AgEq over 1.26 mTW (11,053 g/t silver and 33.50 g/t gold)
CS-22-173 returned 826 g/t AgEq over 14.46 mTW (663 g/t silver and 2.90 g/t gold)
Including 2,118 g/t AgEq over 0.78 mTW (1,655 g/t silver and 8.05 g/t gold)
And, 1,826 g/t AgEq over 1.37 mTW (1,505 g/t silver and 5.93 g/t gold)
CS-22-159 returned 418 g/t AgEq over 10.50 mTW (285 g/t silver and 2.12 g/t gold)
Including 1,775 g/t AgEq over 0.56 mTW (493 g/t silver and 18.30 g/t gold)
And, 2,489 g/t AgEq over 2.66 mTW (2,011 g/t silver and 8.60 g/t gold)
Including 6,151 g/t AgEq over 0.89 mTW (4,950 g/t silver and 21.50 g/t gold)
CS-22-181 returned 1,051 g/t AgEq over 3.44 mTW (832 g/t silver and 3.85 g/t gold)
Including 2,396 g/t AgEq over 0.68 mTW (1,725 g/t silver and 11.00 g/t gold)
"The Copala Vein, located just north of
Tajitos
, has now become our primary focus for near-term
resource expansion at
Panuco
,"
commented
Michael Konnert
, President and CEO.
"Nowhere else
in the district have we observed such high precious metals grades over such broad intervals,
located just below surface. With several newly reported intercepts grading over 1,000 g/t AgEq,
Copala
continues to demonstrate high-grade mineral continuity both along strike and down dip,
ultimately supporting the potential for a material expansion to the
Copala
resource base. To date,
we have now reported 72 holes from
Copala
, effectively expanding the mineralized footprint to
over
900m
long by
400m
down dip, with mineralization open in all directions."
Figure 1: Plan map of recent drilling centered on the Copala vein. (CNW Group/Vizsla Silver Corp.)
The Copala Vein is a structure located at the northern extent and on the hangingwall side of the
Tajitos
structure.
Copala
is marked by high precious metals grades (up to 11,053 g/t silver and
33.50 g/t gold over 1.26 mTW) hosted within a broader envelope of vein-breccia up to 82 metres
thick with local mineralized pockets up to 20.45 mTW averaging 1,030 g/t AgEq (780 g/t silver and
4.23 g/t gold). Our most recent intercepts and interpretations show that
Copala
dips shallowly to the
east (~35°) in its northern sector and steepens to ~52° to the east in the south sector.
Drilling has now traced
Copala
mineralization along 900 metres of strike length and approximately
400 metres down dip. Furthermore, today's reported intercepts expand the zones NNW-SSE striking
high-grade shoot an additional
450m
to the SSE, beyond the
March 2022
resource boundary. This
high-grade sub-zone remains open to the north, south and down-dip to the east. Ongoing detailed
structural-geologic interpretations suggest mineralization continues to the south, beyond the
previously reported
Cristiano Vein
(see press releases dated
January 19, 2022
and
March 10,
2022
), and is a near-term focus for expansion as Vizsla continues to explore this area.
Drilling focused on expanding the
Copala
resource area continues to highlight well-developed, high-
grade mineral continuity. The intercepts reported here, along with previously reported intercepts
located to the north and the
Copala
2 vein-splay intercepts situated between
Tajitos
and
Copala
(see press releases dated
June 21, 2022
and
May 19, 2022
), support the potential to discover
additional blind to surface veins in the vicinity.
Figure 2: Plan map of Copala vein with drill-hole pierce points. (CNW Group/Vizsla Silver Corp.)
Figure 3: Cross section showing Copala, Tajitos and Copala 2 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-22-156
NO SIGNIFICANT VALUES
Copala
CS-22-159
117.55
135.30
17.75
10.50
285
2.12
418
Copala
Includes
121.25
122.20
0.95
0.56
493
18.30
1,775
Includes
134.10
135.30
1.20
0.71
1,025
4.61
1,285
CS-22-159
187.70
192.20
4.50
2.66
2,011
8.60
2,489
FW splay
Includes
189.15
190.15
1.00
0.59
1,390
5.18
1,665
Includes
190.15
191.65
1.50
0.89
4,950
21.50
6,151
CS-22-163A
65.00
69.30
4.30
2.26
313
1.32
386
HW splay
CS-22-163A
115.50
121.40
5.90
3.10
210
1.24
285
Copala
CS-22-165
209.00
211.05
2.05
1.60
645
2.14
754
CS-22-168
271.50
274.50
3.00
2.85
177
0.77
220
Copala
CS-22-170
225.75
234.00
8.25
5.36
195
1.79
310
Copala
Includes
229.50
230.40
0.90
0.59
341
10.20
1,051
CS-22-171
297.30
304.90
7.60
6.61
344
0.88
383
Copala
Includes
297.90
298.65
0.75
0.65
1,205
3.69
1,386
Includes
298.65
299.70
1.05
0.91
1,010
1.99
1,082
CS-22-172
NO SIGNIFICANT VALUES
Copala
CS-22-173
256.15
270.90
14.75
14.46
663
2.90
826
Copala
Includes
256.15
256.95
0.80
0.78
1,375
7.19
1,796
Includes
256.95
257.90
0.95
0.93
1,501
5.49
1,791
Includes
259.35
260.15
0.80
0.78
1,655
8.05
2,118
Includes
268.10
269.50
1.40
1.37
1,505
5.93
1,826
CS-22-174
312.90
316.20
3.30
3.14
907
3.24
1,077
Copala
Includes
314.90
316.20
1.30
1.24
1,670
5.64
1,959
CS-22-175
246.40
248.65
2.25
1.85
596
4.94
909
Copala
Includes
247.00
247.85
0.85
0.70
598
8.09
1,138
CS-22-176
326.20
328.65
2.45
1.49
97
1.56
203
Copala
CS-22-177
340.05
344.90
4.85
3.59
123
2.01
259
Copala
CS-22-178
NO SIGNIFICANT VALUES
Copala
CS-22-179
NO SIGNIFICANT VALUES
Copala
CS-22-180
388.70
393.00
4.30
3.01
186
0.40
202
Copala
CS-22-181
233.50
235.50
2.00
1.70
165
0.52
191
HW splay
CS-22-181
281.15
285.20
4.05
3.44
832
3.85
1,051
Copala
Includes
281.15
281.95
0.80
0.68
1,725
11.00
2,396
Includes
283.30
284.25
0.95
0.81
1,501
4.98
1,754
CS-22-182
NO SIGNIFICANT VALUES
Copala
CS-22-183
NO SIGNIFICANT VALUES
Copala
CS-22-185A
91.70
97.20
5.50
5.01
199
1.27
277
Copala
CS-22-185A
132.50
134.30
1.80
1.64
108
2.15
255
FW splay
CS-22-186
NO SIGNIFICANT VALUES
Copala
CS-22-187
144.60
148.00
3.40
2.89
270
1.96
392
Copala
CS-22-188
NO SIGNIFICANT VALUES
Copala
CS-22-189
411.45
412.50
1.05
0.88
447
1.25
505
Copala
CS-22-190
NO SIGNIFICANT VALUES
Copala
CS-22-191
340.55
342.20
1.65
1.39
133
0.48
158
Copala HW
CS-22-191
348.20
363.10
14.90
12.52
706
4.93
1,011
Copala
Includes
359.60
361.10
1.50
1.26
3,880
27.70
5,602
Includes
361.10
362.60
1.50
1.26
1,245
8.24
1,751
Includes
362.60
363.10
0.50
0.42
1,425
10.65
2,092
CS-22-191
370.95
374.85
3.90
3.28
4,804
14.23
5,491
Copala FW
Includes
370.95
372.45
1.50
1.26
11,053
33.50
12,690
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 were estimated for the Napoleon vein (see press release dated February
17, 2022).
Drillhole
Easting
Northing
Elevation
Azimuth
Dip
Depth
CS-22-156
404,675
2,586,751
561
269
-35.0
364.5
CS-22-159
404,676
2,586,751
561
268
-79.5
336.0
CS-22-163A
404,638
2,586,711
559
269
-80.7
331.5
CS-22-165
404,641
2,586,712
559
91
-85.7
339.0
CS-22-168
404,778
2,586,756
631
277
-73.2
551.5
CS-22-170
404,643
2,587,057
558
132
-85.5
294.0
CS-22-171
404,759
2,587,035
597
293
-77.8
594.0
CS-22-172
404,834
2,587,003
596
281
-60.0
374.7
CS-22-173
404,778
2,586,757
631
300
-64.9
457.5
CS-22-174
404,834
2,587,004
596
275
-69.0
427.5
CS-22-175
404,725
2,586,986
595
282
-74.0
376.5
CS-22-176
404,778
2,586,758
631
316
-75.9
399.0
CS-22-177
404,834
2,587,002
596
297
-72.2
430.5
CS-22-178
404,748
2,586,687
614
28
-85.9
441.0
CS-22-179
404,892
2,587,146
602
318
-70.6
426.0
CS-22-180
404,834
2,587,002
596
244
-78.3
447.0
CS-22-181
404,755
2,586,683
618
243
-80.0
352.5
CS-22-182
404,639
2,586,711
559
259
-54.0
291.0
CS-22-183
404,850
2,587,120
586
318
-86.0
435.0
CS-22-185A
404,569
2,586,883
535
290
-84.7
184.5
CS-22-186
404,577
2,586,837
537
153
-76.2
231.0
CS-22-187
404,651
2,586,891
568
174
-88.4
267.0
CS-22-188
404,787
2,586,850
632
289
-76.5
382.5
CS-22-189
404,816
2,586,676
657
339
-72.8
477.0
CS-22-190
404,702
2,586,663
619
152
-77.3
423.0
CS-22-191
404,787
2,586,850
632
322
-69.8
431.6
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 6,754-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.
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 140,000 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 10-AUG-22