Vizsla Silver Reports Additional High- Grade Intercepts at LA Luisa
VIZSLA SILVER REPORTS ADDITIONAL HIGH-
GRADE INTERCEPTS AT LA LUISA
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC
,
Feb. 13, 2024
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA)
(
Frankfurt
: 0G3) ("
Vizsla Silver
" or the "
Company
") is pleased to report results from seven new
drillholes targeting the La Luisa Vein ("
La Luisa
") located ~700 metres west of the Napoleon Area
resource, at its 100%-owned flagship
Panuco
silver-gold project
("Panuco"
) in
Mexico
. Recently
completed shallow drilling has expanded high-grade mineralization at La Luisa to the southeast.
Highlights
NP-23-425 returned
498 grams per tonne (g/t) silver equivalent (AgEq) over 1.30 metres
true width (mTW)
(42 g/t silver, 6.76 g/t gold, 0.02% lead and 0.05% zinc)
NP-23-423 returned
264 g/t AgEq over 4.60 mTW
(73 g/t silver, 2.64 g/t gold, 0.15% lead and
0.38% zinc)
and, 333 g/t AgEq over 2.10 mTW (136 g/t silver, 1.80 g/t gold, 0.49 % lead and 1.97%
zinc)
NP-23-424 returned
652 g/t AgEq over 0.85 mTW
(78 g/t silver, 7.78 g/t gold, 0.12% lead and
1.41% zinc)
NP-24-427 returned
362
g/t AgEq
over 1.00
mTW
(37 g/t silver, 2.85 g/t gold, 0.71% lead and
3.14% zinc)
Including, 659 g/t AgEq over 0.34 mTW (69 g/t silver, 4.01 g/t gold, 1.26% lead and 7.91%
zinc)
"Ongoing drilling continues to demonstrate mineralized continuity at La Luisa,"
commented
Michael
Konnert
, President and CEO.
"La Luisa is the newest structure to be included in the Panuco Project
resource base and hosts some of the highest gold grades discovered to date in the district. Given it
is situated within the same vein corridor as the three-kilometer-long Napoleon, we continue to test
the extents of La Luisa mineralization, which has only been traced for a kilometer and a half and
remains open in all directions beyond the
January 2024
resource boundary. Moving forward, we
will continue to explore La Luisa with two drill rigs focused on expanding mineralization to the
south and closing the untested gap to the north."
Figure 1: Plan map of recent drilling along the La Luisa vein. (CNW Group/Vizsla Silver Corp.)
The Luisa Vein is located approximately 700 metres to the west of Napoleon in the southwest
portion of the
Panuco
district. The structure has been mapped on surface for approximately 1,500
metres with an average strike of N30°W and dip of 70° - 80° to the northeast. To date, Vizsla Silver
has reported 51 holes from La Luisa outlining a mineralized footprint approximately 1,670 metres
long by 450 metres down dip with a weighted average grade of 472 g/t AgEq (184 g/t silver, 3.53
g/t gold, 0.38 % lead and 1.41 % zinc) and average width 2.93 mTW. La Luisa currently hosts
Indicated Resources of 4.0 Moz AgEq at 459 g/t AgEq and Inferred Resources of 25.3 Moz AgEq at
386 g/t AgEq in the main La Luisa vein and the FW vein splay.
The upper levels of the vein are hosted primarily by rhyolite tuffs (the upper part of the regional
lower volcanic sequence), whereas deeper vein-intercepts occur in the more favourable diorite host
rock. Initial shallow drilling at La Luisa returned significant gold concentrations with relatively low
silver and base metals values. The higher gold to silver and base metals ratios observed are
analogous to the previously reported shallow "gold rich" horizon at the southern end of Napoleon.
Interpretations based on metal zonation and alteration at Napoleon suggest that the vein corridor has
been tilted, with the southern extent being at the top of the mineralized horizon, near surface (see
the Company's press releases dated
December 16, 2021
and
October 12, 2022
).
Surface mapping and sampling along strike to the northwest at La Luisa confirmed a wider vein
expression with higher silver and gold anomalies at surface supporting the hypothesis that
mineralization is tilted in a similar fashion to Napoleon (see surface samples on figure 2). Recent
shallow drill-holes completed in the northwest (NP-23-399, NP-23-401, NP-23-403 and NP-23-408)
have confirmed mineralization in the north and expand the potential strike length of La Luisa to
1,670
m
; with an intermediate ~400 m drilling-gap between the high-grade shoot in the south and the
recent drill intercepts to the north (see figure 2). Vizsla Silver is currently exploring La Luisa with two
drill rigs, one testing the open strike potential to the southeast and the second in filling the gap zone
to the north of the current mineral resource boundary.
Figure 2: Longitudinal section of the La Luisa Vein. (CNW Group/Vizsla Silver Corp.)
Figure 3: Longitudinal section of the Footwall Vein at La Luisa. (CNW Group/Vizsla Silver Corp.)
Figure 4: Cross section highlighting recent drill intercepts on La Luisa vein. (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-23-421
No significant values
HW
NP-23-421
722.80
723.90
1.10
0.50
57
0.88
0.03
0.69
138
Main
NP-23-421
No significant values
FW
NP-23-422
376.15
378.55
2.40
2.15
93
1.17
3.19
0.93
293
Main
NP-23-422
No significant values
FW
NP-23-423
No significant values
HW
NP-23-423
417.90
423.50
5.60
4.60
73
2.64
0.15
0.38
264
Main
NP-23-423
431.50
434.50
2.80
2.10
136
1.80
0.49
1.97
333
FW
NP-23-424
476.50
476.90
0.40
0.30
58
0.15
4.25
2.26
271
HW
NP-23-424
507.40
507.70
1.30
0.85
78
7.78
0.12
1.41
652
Main
NP-23-424
No significant values
FW
NP-23-425
445.50
447.00
1.50
1.30
42
6.76
0.02
0.05
498
Main
NP-23-425
No significant values
FW
NP-23-426
No significant values
HW
NP-23-426
526.40
527.75
1.35
0.70
62
0.80
1.16
1.84
212
Main
NP-23-426
No significant values
FW
NP-24-427
626.45
629.50
3.05
1.00
37
2.85
0.71
3.14
362
Main
Includes
626.45
627.50
1.05
0.34
69
4.01
1.26
7.91
659
NP-24-427
642.30
645.70
3.40
1.10
45
0.67
2.70
0.93
201
FW Splay
NP-24-427
659.00
662.80
3.80
1.15
11
1.07
0.10
1.11
126
FW Splay
NP-24-427
689.40
690.35
0.95
0.45
27
2.71
0.23
3.83
353
FW
Table 1:
Downhole drill intersections from the holes completed along the La Luisa vein.
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-23-421
402,972
2,586,835
441
255
-58.3
768.0
NP-23-422
403,078
2,586,547
480
239
-33.2
486.0
NP-23-423
403,150
2,586,445
442
244
-37.9
534.0
NP-23-424
402,971
2,586,834
441
254
-47.6
636.0
NP-23-425
403,248
2,586,386
465
244
-33.0
498.0
NP-23-426
402,971
2,586,834
441
271
-44.8
607.5
NP-24-427
402,971
2,586,834
441
269
-50.1
738.0
Table 2:
La Luisa 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.
On
January 8, 2024
, the Company announced an updated mineral resource estimate for
Panuco
which includes an estimated in-situ indicated mineral resource of 155.8 Moz AgEq and an in-situ
inferred resource of 169.6 Moz AgEq.
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 Silver has completed over 350,000 metres of drilling at
Panuco
leading to the discovery of several new high-grade veins. For 2024, Vizsla Silver has budgeted
+65,000 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,
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.
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 mineral 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 public health crises; 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 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 public health crises; the economic and financial
implications of public health crises 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; the ongoing military conflict in
Ukraine
; general economic facts; and the factors
identified under the caption "Risk Factors" in Vizsla Silver's management discussion and analysis and
other public disclosure documents. 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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CO: Vizsla Silver Corp.
CNW 08:00e 13-FEB-24