Vizsla Silver Reports Additional High- Grade Silver and GOLD Through Ongoing Infill Drilling and Expands Near Surface Mineralization at Copala Central
VIZSLA SILVER REPORTS ADDITIONAL HIGH-
GRADE SILVER AND GOLD THROUGH
ONGOING INFILL DRILLING AND EXPANDS
NEAR SURFACE MINERALIZATION AT
COPALA CENTRAL
NYSE: VZLA TSX-V: VZLA
VANCOUVER, B.C.
,
Oct. 1, 2024
/CNW/ -
Vizsla Silver Corp.
(TSX-V: VZLA) (NYSE: VZLA)
(
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to report results from 11 new drill holes
targeting the
Copala
resource area at its 100%-owned, flagship Panuco silver-gold project
("
Panuco
" or the "
Project
") located in
Mexico
. The reported drill results are from the recently
completed infill program, designed to upgrade and expand Mineral Resources within areas
designated for initial production at
Copala
.
Highlights
CS-24-393 returned
4,573 grams per tonne (g/t) silver equivalent (AgEq) over 5.65 metres
true width (mTW)
(3,007 g/t silver and 26.06 g/t gold)
Including 16,666 g/t AgEq over 1.48 mTW (10,869 g/t silver and 96.11 g/t gold)
CS-24-390 returned
3,368 g/t AgEq over 5.80 mTW
(2,551 g/t silver and 14.85 g/t gold)
Including 30,305 g/t AgEq over 0.46 mTW (21,953 g/t silver and 146.50 g/t gold)
CS-24-389 returned
5,224 g/t AgEq over 2.30 mTW
(2,851 g/t silver and 37.30 g/t gold)
Including 10,077 g/t AgEq over 1.05 mTW (5,410 g/t silver and 73.10 g/t gold)
"This latest round of infill drill results continues to support improved mineral continuity along the
Copala
structure,"
commented
Michael Konnert
, President & CEO.
"It is very rare for an infill
program to add such a significant amount of new mineralization, particularly at higher-than-
average grades. This speaks to the exceptional quality of the
Copala
structure which remains open
in all directions. Additionally, the discovery of a historic mine adit at
Copala
combined with new 3D
interpretations based on updated drill data, highlights the potential for additional near surface
resources outboard of both the current PEA mine plan and MRE boundary. With the infill program
now complete, we are looking forward to mobilizing our drill rigs to the eastern portion of the
district to begin discovery-based drilling on several high-priority targets."
Figure 1: Plan map of recent drilling centered on the Copala structure. (CNW Group/Vizsla Silver
Corp.)
The precious metals dominant
Copala
structure, located in the western portion of the
Panuco
district, is situated ~800 m to the east of the Napoleon Vein.
Copala
currently hosts Indicated
Resources of 83.3 Moz AgEq at 573 g/t AgEq and Inferred Resources of 48.3 Moz AgEq at 476 g/t
AgEq within a broad envelope of vein-breccia interlayered with host rock, up to 82 metres thick
(please refer to our Technical Report on Updated Mineral Resource Estimate for the Panuco Ag-Au-
Pb-Zn Project, Sinaloa State,
Mexico
, by
Allan Armitage
,
Ben Eggers
and Peter Mehrfert, dated
February 12, 2024
and Vizsla's press release dated
January 8, 2024
). Observations by Vizsla
geologists indicate
Copala
has an average dip of ~46° to the east (~35° in its northern sector and
steepening to ~65° in the southern sector).
Exploration and resource focused drilling at
Copala
has traced mineralization along ~1,770 metres of
strike length and ~400 metres down dip. Recent mapping, supported with LiDAR, led to the
discovery of a historic mine adit on surface located at Copala Central. The location of the historic
adit (see figure 2) combined with new 3D interpretations of drilling data highlight the potential for
resource expansion up dip from the previously reported CS-24-356 hole containing visible gold (see
press release dated
June 26, 2024
). This area is currently outboard of both the PEA mine plan and
MRE boundary, representing an excellent target to expand high-grade mineralization closer to
surface.
The 11 holes reported herein are from the recently completed ~5,000 metre drill program designed
to infill and expand mineral resources at intermediate elevation and near surface in the central
portion of the main
Copala
structure. Both primary target areas are situated outside the proposed
first two years of mine production at
Copala
. Three infill holes continue to confirm high-grade
continuity immediately adjacent to the areas designated for the first two years mining, whereas four
holes drilled close to surface, have confirmed that high-grade mineralization extends up-dip by
approximately 100 meters towards the recently discovered, historic
Copala
adit. Previous
interpretations suggested that the up-dip projection of
Copala
was truncated by the Cristiano Vein.
New interpretations based on recent mapping, new drill data and 3D modelling indicate
Copala
extends to the surface therefore creating potential for additional high-grade shoots extending up-dip
above the intersection with the Cristiano Vein (red dash line in figure 2). Additionally, our updated 3D
model has highlighted two vein intercepts in holes CS-22-156 and CS-22-182 that were previously
reported for Cristiano, are now re-interpreted to be on
Copala
(see figures 1 and 2). Vizsla's
geologists are now preparing drill-hole proposals to explore other zones along-strike
Copala
where
mineralization could extend near to surface.
Figure 2: Inclined longitudinal section for Copala structure with drillhole pierce points and location of
the recently discovered historic adit on Copala. The section is 1x along strike to 1.4x along the dip to
compensate for the average 46-degree dip of Copala. The black dash outlines represent Copala 3
sitting on the hanging wall of Copala. (CNW Group/Vizsla Silver Corp.)
Figure 3: Cross section showing Copala structure, Cristiano, Copala 3, and Tajitos veins with
completed drilling. (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*
75.80
79.20
3.40
2.88
92
0.45
115
Copala
CS-22-182*
42.70
44.55
1.85
1.46
1,935
15.47
2,851
Copala
CS-24-389
198.45
199.05
0.60
0.55
437
6.26
839
Copala 3
CS-24-389
216.40
218.80
2.40
2.30
2,851
37.30
5,224
Copala
Includes
216.40
217.50
1.10
1.05
5,410
73.10
10,077
CS-24-389
227.95
229.75
1.80
1.70
238
1.35
312
Copala
CS-24-390
No Significant Values
Copala 3
CS-24-390
354.00
361.00
7.00
5.80
2,551
14.85
3,368
Copala
Includes
356.75
357.30
0.55
0.46
21,953
146.50
30,305
CS-24-391
192.00
194.45
2.45
2.30
79
0.98
141
Copala 3
CS-24-391
215.40
219.65
4.25
4.15
732
3.29
898
Copala
Includes
216.25
217.65
1.40
1.37
1,634
7.56
2,020
CS-24-392
150.00
150.45
0.45
0.40
732
4.54
986
Copala 3
CS-24-392
No Significant Values
Copala
CS-24-393
No Significant Values
Copala 3
CS-24-393
364.50
365.90
5.90
5.65
3,007
26.06
4,573
Copala
Includes
362.95
364.50
1.55
1.48
10,869
96.11
16,666
CS-24-394
84.15
84.80
0.65
0.65
384
1.99
489
Copala 3
CS-24-394
97.50
98.50
8.55
7.50
222
1.23
289
Copala
Includes
96.00
97.50
1.50
1.32
591
3.45
782
CS-24-395
No Significant Values
Copala 3
CS-24-395
79.10
84.45
5.35
4.90
145
1.06
207
Copala
CS-24-395
88.30
89.35
1.05
1.00
874
5.39
1,175
Copala
CS-24-396
362.10
363.15
1.05
0.90
1,830
12.05
2,515
Copala 3
CS-24-396
374.10
374.45
4.35
3.55
781
3.00
923
Copala
Includes
371.00
371.90
0.90
0.73
2,990
12.45
3,599
CS-24-397
No Significant Values
Copala 3
CS-24-397
No Significant Values
Copala
CS-24-398
No Significant Values
Copala 3
CS-24-398
No Significant Values
Copala
CS-24-399
No Significant Values
Copala 3
CS-24-399
No Significant Values
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
$24.00
/oz silver and
$1,800
/oz gold and metallurgical recoveries assumed are 91%
for silver and 94% for gold. Gold and silver metallurgical recoveries used in this release are from
metallurgical test results of the
Copala
vein (see press release dated
August 16, 2023
)
Table 1:
Downhole drill intersections from the holes reported for
Copala
and
Copala
3 veins. Holes
with "*" were reported previously for Cristiano vein.
Drillhole
Easting
Northing
Elevation
Azimuth
Dip
Depth
CS-22-156*
404,675
2,586,751
561
269.0
-35.0
364.5
CS-22-182*
404,639
2,586,711
559
259.0
-54.0
291.0
CS-24-389
404,778
2,586,756
631
258.0
-53.2
247.5
CS-24-390
404,844
2,586,892
653
231.4
-60.9
370.5
CS-24-391
404,778
2,586,756
631
259.3
-47.1
237.0
CS-24-392
404,752
2,586,682
617
266.8
-56.1
223.5
CS-24-393
404,844
2,586,892
653
236.1
-63.3
385.5
CS-24-394
404,675
2,586,751
561
244.3
-50.5
117.0
CS-24-395
404,675
2,586,751
561
249.1
-34.5
109.5
CS-24-396
404,912
2,586,771
680
267.5
-59.0
405.0
CS-24-397
404,708
2,586,642
616
286.8
-35.5
186.0
CS-24-398
404,708
2,586,642
616
250.9
-30.9
151.5
CS-24-399
404,752
2,586,682
617
264.1
-40.5
199.5
Table 2:
Drillhole details for the reported drillholes. Coordinates in WGS84, Zone 13.
Holes with
"*" were reported previously for Cristiano vein.
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 17,856.5-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 (please refer to our Technical Report on Updated Mineral
Resource Estimate for the Panuco Ag-Au-Pb-Zn Project, Sinaloa State,
Mexico
, by
Allan Armitage
,
Ben Eggers
and Peter Mehrfert, dated
February 12, 2024
and to our Company´s press release
dated
January 8
, 2024).
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 380,000 metres of drilling at
Panuco
leading to the discovery of several new high-grade veins. For 2024, Vizsla Silver has budgeted
+45,000 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 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.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/October2024/01/c9929.html
%SEDAR: 00045314E
For further 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], Website: www.vizslasilvercorp.ca
CO: Vizsla Silver Corp.
CNW 06:00e 01-OCT-24