Vizsla Silver Intersects 2,142 g/t AgEq Over 7.81 Meters at Recently Discovered Copala Vein
Vizsla Silver Intersects 2,142 g/t AgEq Over
7.81 Meters at Recently Discovered Copala
Vein
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC,
March 10, 2022
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA)
(
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to report assay results from seven new drill
holes targeting the
Copala
and Christiano veins, located east of the
Tajitos
resource area, at its
100%-owned, flagship Panuco silver-gold project ("
Panuco
" or the "
Project
") located in
Mexico
.
Highlights
CS-21-116
returned
1,559 grams per tonne (g/t)
silver and
7.29 g/t gold (2,142 g/t silver
equivalent (AgEq)) over 7.81 metres true width (mTW)
, including a sub-interval grading
2,728 g/t silver and 13.10 g/t gold (3,775 g/t AgEq) over 2.60 mTW
CS-22-123
returned
1,237 g/t silver and 10.53 g/t gold
(
2,078 g/t AgEq) over 2.09 mTW,
hosted within a broad interval grading 248 g/t silver and 2.03 g/t gold (410 g/t AgEq) over 14.45
mTW
CS-21-115
returned
1,900 g/t silver and 11.09 g/t gold (2,787 g/t AgEq) over 1.21 mTW
CS-21-112
returned
682 g/t silver and 5.51 g/t gold (1,122 g/t AgEq) over 1.73 mTW
All reported holes in this release were not included in the recent maiden resource estimate
The Copala Vein has now been tested with seventeen holes with mineralization open in all
directions
"
Copala
continues to grow rapidly with very high grades and impressive widths over a large area,"
commented
Michael Konnert
, President, and CEO
. "This recently discovered near-surface, shallow
dipping structure has now been traced over 650 meters in length, 350 meters downdip, and
remains open in all directions. The Copala Vein contributed approximately 6.4Moz of indicated and
18.6Moz of inferred silver equivalent ounces to the maiden resource estimate with the inclusion of
only eight drill holes. The Company was conservative with 40% smaller search radius for resource
estimation at
Copala
due to its early stage, however, these results indicate resource growth could
be expected from the
Copala
vein over coming months."
Figure 1: Tajitos and Copala Resource area Plan Map (CNW Group/Vizsla Silver Corp.)
Figure 2: Copala Longitudinal Section (CNW Group/Vizsla Silver Corp.)
Drillhole
From
To
Downhole
Length
Estimated
True
Width
Ag
Au
AgEq
Comments
(m)
(m)
(m)
(m)
(g/t)
(g/t)
(g/t)
CS-21-112
117.55
119.80
2.25
1.73
682
5.51
1,122
Cristiano
Incl.
117.90
119.35
1.45
1.11
973
7.97
1,610
CS-21-115
232.55
234.25
1.70
1.21
1,900
11.09
2,787
South of Cristiano
CS-21-116
134.60
138.50
3.90
2.40
97
0.55
141
Cristiano
And
274.00
283.45
9.45
7.81
1,559
7.29
2,142
South of Cristiano
Incl.
274.00
277.15
3.15
2.60
2,728
13.10
3,775
And
277.45
281.25
3.80
3.14
1,531
6.94
2,086
CS-22-118
99.75
144.20
44.45
16.77
94
0.69
149
Incl
107.60
112.50
4.90
1.85
284
1.78
426
And
237.05
238.15
1.10
0.42
508
3.13
758
CS-22-121
No significant values
CS-22-122
Pending
CS-22-123
179.45
197.80
18.35
14.45
248
2.03
410
Incl
186.35
189.00
2.65
2.09
1,237
10.53
2,078
Incl
194.40
197.80
3.40
2.68
197
1.45
312
CS-22-127
No significant values
Table 1:
Downhole drill intersections from the holes completed at the Copala structure on the Cinco Senores Vein Corridor
Note: All numbers are rounded. Silver equivalent is calculated using the following formula: Silver-equivalent = (Ag price/Au price x Au g/t) + Ag_g/t. Metal price assumptions are
$20.70 ounce silver and $1,655 ounce gold, recoveries assumptions are 100% for both gold and silver.
Drillhole
Easting
Northing
Elevation
Azimuth
Dip
Depth
CS-21-112
404,589
2,587,044
543
219
-53.8
304.5
CS-21-115
404,589
2,587,044
543
193
-49.3
274.5
CS-21-116
404,589
2,587,044
543
219
-63.4
319.5
CS-22-118
404,504
2,587,123
547
10
-30.5
298.5
CS-22-121
404,504
2,587,122
547
32
-66.0
496.5
CS-22-122
404,664
2,586,750
552
276
-56.0
604.5
CS-22-123
404,717
2,587,202
549
282
-63.4
315.0
CS-22-127
404,574
2,587,156
568
309
-59.7
426.0
Table 2:
Copala 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 6,754-hectare, past producing district
benefits from over 75 kilometres of total vein extent, a 500 ton per day mill, 35 kilometres of
underground mines, tailings facilities, 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 has an in-situ estimated mineral resource of 61.1Moz of indicated category
AgEq and 45.6Moz of inferred category AgEq (see Company news release dated
March 1, 2022
).
Note: AgEq = Capped Ag ppm + (((Capped Au ppm x Au price/g) + (Capped Pb% x Pb price/t) + (Capped Zn% x Zn price/t))/Ag price/g). Metal price assumptions are $20.70/oz
silver, $1,655/oz gold, $1,902/t lead, $2,505/t zinc.
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 120,000 meters of drilling at
Panuco
leading
to the discovery of several new high-grade veins. For 2022, Vizsla has budgeted +120,000 meters
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
The independent Qualified Person for the Resource Estimate is
Tim Maunula
, P.Geo., Principal,
T.
Maunula
& Associates Consulting Inc., who has reviewed and approved the contents of this release.
In accordance with NI 43-101,
Martin Dupuis
, P.Geo., Vice President of Technical Services, is the
Qualified Person for the Company and has validated 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 in this video 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 in this video
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 in this video 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 07:00e 10-MAR-22