Vizsla Silver Makes New High-Grade Discovery IN the North East of Panuco Intersecting 897 G/T Ageq over 5.85 Meters Including 2,256 G/T Ageq over 1.13 Meters This is a Designated News Release
VIZSLA SILVER MAKES NEW HIGH-GRADE DISCOVERY IN THE NORTH
EAST OF PANUCO INTERSECTING 897 G/T AGEQ OVER 5.85 METERS
INCLUDING 2,256 G/T AGEQ OVER 1.13 METERS
This is a Designated News Release
VANCOUVER, BC
,
March 31, 2025
/CNW/ -
Vizsla Silver Corp.
(TSX: VZLA) (NYSE: VZLA) (
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to
announce a new discovery from its ongoing exploration drill program at its 100%-owned, flagship Panuco silver-gold project ("
Panuco
" or the "
Project
") located in
Mexico
. The discovery was made in hole AM-25-90, marked by several high-grade intervals contained within a broader envelope of precious metals mineralization.
AM-25-90 is located approximately six kilometers to the northeast of the
Copala
resource area, situated along the Animas Vein system below known historic mine
workings.
Highlights
AM-25-90 returned
897 grams per tonne (g/t) silver equivalent (AgEq) over 5.85 metres true width (mTW)
(653 g/t silver, 4.26 g/t gold, 0.02 % lead
and 0.04 % zinc)
Including 1,379 g/t AgEq over 1.31 mTW (1,190 g/t silver, 4.00 g/t gold, 0.02 % lead and 0.04 % zinc)
And 2,256 g/t AgEq over 1.13 mTW (1,398 g/t silver, 14.10 g/t gold, 0.04 % lead and 0.09 % zinc)
And
568 g/t AgEq over 2.60 mTW
(457 g/t silver, 2.00 g/t gold, 0.08 % lead and 0.18 % zinc)
Including 1,000 g/t AgEq over 1.09 mTW (814 g/t silver, 3.42 g/t gold, 0.11 % lead and 0.24 % zinc)
"This new discovery underscores the strong potential for new wide, high-grade silver and gold mineralization in the
Panuco
district, which has historically seen
limited systematic exploration,"
commented
Michael Konnert
, President & CEO.
"Applying the same thesis we used to discover the Napoleon Vein in 2020,
historic workings at Animas were used to vector this new mineralization. To date, drilling in the area has been limited, however ongoing geologic interpretation
of the localized system suggests both grade and widths may increase at depth. We will evaluate plans to follow up on this exciting discovery with further details
to be provided in due course."
Figure 1: Plan map showing Animas Vein system and the location of hole AM-25-90. (CNW Group/Vizsla Silver Corp.)
The Animas vein-system is located approximately six kilometres to the northeast of the
Copala
resource area, emplaced on reactivated northwest- to west-
northwest-trending normal fault that dips to the southwest. The Animas system hosts the largest number of historical workings, including the
Rosarito
and
Cuevillas veins with a current inferred resource of 7.01 Moz AgEq (see News Release from
January 6, 2025
). Animas has a mapped strike length of over 7.2 km
and extends from the
San Carlos
mine in the southeast to the claim boundary in the northwest. To date, ten main mineralized shoots have been exploited along
this corridor down to the present water table, with the oldest known workings dating back to the 1500s. Historical references note that the corridor extends
beyond the
San Carlos
mine in the southeast and preliminary interpretations by Vizsla geologists using LiDar and satellite imagery, suggest that the Animas
structural trend extends further south into the recently acquired
San Enrique
prospect (see News Release from
April 16, 2024
).
The Hunt for Project 2
In late 2024, Vizsla commenced its fully funded +10,000 metre ongoing exploration drill program designed to test multiple veins in five high-priority target areas:
Camelia-San Dimas
, Animas-Triunfo,
Galeana
, San Fernando-Nacaral and
Jesusita-Palos Verdes
. Hole AM-25-90 reported in this news release was drilled at La
Pipa target along the Animas vein system (Figure 2). Previous structural interpretations done by Starling in 2019 combined with further work done by Vizsla's
geologists, suggested that Animas is emplaced along a reactivated, Laramide age fault zone that flattens at depth (Figure 3). Further interpretations by Vizsla
geologists indicate that silver and gold mineralization may be telescoped (common in other Mexican epithermal vein systems) and that high-grade mineralized
shoots could repeat/re-open at depth. Hole AM-25-90 was planned to test that hypothesis and has now confirmed the reappearance of broad high-grade
mineralization at depth. The hole intercepted a 14.90 mTW vein package from 118.70 to 138.55 down the hole, that contains the two high grade zones and two
low grade subzones with samples reporting 20 to 70 g/t AgEq. Results from this hole confirmed that great potential still exists along the Animas vein system below
the historic mines and below the current water table that consistently prevented the historic miners from going deeper. The Company plans to follow up on the La
Pipa discovery with additional exploration-delineation stage drilling subject to ongoing exploration success.
Figure 2: Longitudinal section for Animas structure with historic drillhole pierce points (black) and hole AM-25-90 (red) tapping high grade mineralization below
historic mine workings at La Pipa. The gray polygons with black dash line represent estimated mined out high-grade mineralization done local miners on the upper
100 metres of the vein. (CNW Group/Vizsla Silver Corp.)
Figure 3: Cross section showing Animas structure flattening at depth and discovery hole AM-25-90. (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)
AM-25-90
118.70
126.50
7.80
5.85
653
4.26
0.02
0.04
897
Animas
Includes
119.75
121.50
1.75
1.31
1,190
4.00
0.02
0.04
1,379
Includes
124.35
125.85
1.50
1.13
1,398
14.10
0.04
0.09
2,256
AM-25-90
131.20
134.30
3.10
2.60
457
2.00
0.08
0.18
568
Animas
Includes
132.00
133.30
1.30
1.09
814
3.42
0.11
0.24
1,000
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).
Table 1:
Downhole drill intersections from hole AM-25-90.
Drillhole
Easting
Northing
Elevation
Azimuth
Dip
Depth
AM-25-90
409,080
2,589,578
810
76.6
87.0
201
Table 2:
Drillhole details for hole AM-25-90. 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.
On
January 6, 2025
, the Company announced an updated mineral resource estimate for
Panuco
which includes an estimated in-situ combined measured and
indicated mineral resource of 222.4 Moz AgEq and an in-situ inferred resource of 138.7 Moz AgEq (please refer to Vizsla's press release dated
January 6
,
2025).
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
. The Company recently completed a Preliminary Economic Study for
Panuco
in
July 2024
which highlights
15.2 Moz AgEq of annual production over an initial 10.6-year mine life, an after-tax NPV5% of
US$1.1B
, 86% IRR and a 9-month payback at
US$26
/oz Ag and
US$1,975
/oz Au. Vizsla Silver aims to become the world's leading silver company by implementing a dual track development approach at
Panuco
, advancing mine
development, while continuing district scale exploration through low-cost means.
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,
Jesus Velador
, Ph.D. MMSA QP, Vice President of Exploration, 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.
Website:
www.vizslasilvercorp.ca
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 to follow up on
the discovery at hole AM-25-90 with additional exploration-delineation stage drilling.
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; 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; 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.
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For further information:
Contact Information: For more 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]
CO: Vizsla Silver Corp.
CNW 06:00e 31-MAR-25