Vizsla Silver Reports Additional High Grade Intercepts at Southern End of Napoleon, Intersecting 1,241 G/T Ageq over 3.90 Metres
VIZSLA SILVER REPORTS ADDITIONAL HIGH
GRADE INTERCEPTS AT SOUTHERN END OF
NAPOLEON, INTERSECTING 1,241 G/T AGEQ
OVER 3.90 METRES
VANCOUVER, BC
,
July 28, 2022
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE: VZLA)
(
Frankfurt
: 0G3) ("
Vizsla
" or the "
Company
") is pleased to report results from nine new drillholes
targeting the southern extension of the Napoleon Vein, at its 100%-owned flagship
Panuco
silver-
gold project
("Panuco"
) located in
Mexico
. The results disclosed in this news release expand the
vertical extent of the high-grade footprint by 100 metres and continue to show that additional
exploration potential exists in the hanging-wall vein splays.
Highlights
NP-22-300 returned
1,241 grams per tonne (g/t) silver equivalent (AgEq) over 3.90 metres
true width (mTW) (913 g/t silver, 5.28 g/t gold, 0.15% lead and 0.2 % zinc) including:
1,672 g/t AgEq over 0.82 mTW (1,400 g/t silver, 4.88 g/t gold, 0.27% lead and 0.32 %
zinc)
1,772 g/t AgEq over 0.83 mTW (1,385 g/t silver, 6.62 g/t gold, 0.11% lead and 0.14 %
zinc)
2,641 g/t AgEq over 0.50 mTW (1,750 g/t silver, 13.75 g/t gold, 0.23% lead and 0.49%
zinc)
NP-22-295 returned
990 g/t AgEq over 1.70 mTW
(682 g/t silver, 3.62 g/t gold, 0.67 % lead
and 2.21 % zinc) and,
813 g/t AgEq over 1.41 mTW (493 g/t silver, 3.15 g/t gold, 0.85 % lead and 2.98 % zinc)
NP-22-291 returned
517 g/t AgEq over 1.48 mTW
(283 g/t silver, 1.08 g/t gold, 0.65 % lead
and 4.46 % zinc) and,
518 g/t AgEq over 1.18 mTW (484 g/t silver, 0.46 g/t gold, 0.11 % lead and 0.90 % zinc).
"The southern extent of the main Napoleon Vein continues to be the primary target for near-term
resource growth within the Napoleon Vein Corridor,"
commented
Michael Konnert
, President and
CEO.
"Ongoing drilling in the area continues to validate our local model of a gently plunging
epithermal system to the south. We have now expanded the zone's high-grade footprint to ~800
metres long by 400 metres down dip and it remains open at depth. Of the nine drill rigs currently
turning on the property,
drilling continues at Napoleon with three rigs, including one direction rig,
focussed on resource expansion and conversion ahead of a resource update planned for Q4
2022.
"
Figure 1: Plan map of recent drilling along the southern extent of the Napoleon Vein. (CNW
Group/Vizsla Silver Corp.)
Details of the Napoleon southern extent
Infill and step-out (expansionary) drilling completed in 2021 led to an improved understanding of the
controls on mineralization along the Napoleon Vein Corridor. Observations based on metal zonation
and alteration continue to suggest the corridor has been tilted with the southern extent being at the
top of the mineralized horizon near surface (Figure 3). Previously reported high-grade gold values
closer to surface support the model (see press release dated
December 16, 2021
), while results
disclosed in this news release, with high silver grades and continued high gold grades, continue to
validate the model. During Q1 2022, Vizsla utilized up to four drill-rigs to target this area with the
objective of testing this hypothesis and expanding the resources along strike and down plunge to the
south.
Today's results serve to: 1) further demonstrate the continuity of high-grade silver and gold
mineralization along the southern extent of the main Napoleon Vein, outside of the March, 2022
mineral resource boundary; 2) expand the vertical extent of the high-grade footprint by 100 metres;
and, 3) support ongoing exploration potential of the hanging-wall vein splays. With respect to the
latter, Vizsla is conducting structural interpretation and modelling of the vein splays to further plan
step out drill-holes specifically designed to test mineral continuity along strike and at depth. To date,
the high-grade footprint associated with the southern extent of the main Napoleon Vein has been
traced over ~800 metres along strike, ~400 metres down dip and remains open at depth. Moving
forward, Vizsla plans to continue expanding and infilling this high-grade zone ahead of the planned
resource update in Q4 2022.
Figure 2: Longitudinal section of the main Napoleon Vein. The section is inclined along the dip of the
structure. (CNW Group/Vizsla Silver Corp.)
Figure 3: Napoleon Vein Corridor Exploration Model Longitudinal Section with pierce points. (CNW
Group/Vizsla Silver Corp.)
Figure 4: Napoleon cross section with significant intercepts below inferred resources at Ojo de
Agua. (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-22-289
423.75
428.10
4.35
3.99
116
1.26
0.22
0.68
228
HW VEIN
NP-22-289
500.00
504.95
4.95
2.96
141
1.53
0.25
1.23
291
NAPOLEON
NP-22-291
318.90
320.30
1.40
1.18
484
0.46
0.11
0.90
518
HW VEIN
NP-22-291
424.65
426.60
1.95
1.48
283
1.08
0.65
4.46
517
NAPOLEON
NP-22-292A
384.70
389.45
4.75
2.15
40
0.79
0.67
1.61
170
HW VEIN
NP-22-292A
453.85
461.55
4.40
2.41
50
0.81
0.45
5.12
298
HW VEIN
NP-22-292A
525.80
530.30
4.50
2.66
22
0.16
0.18
0.67
61
NAPOLEON
NP-22-295
326.60
328.90
2.30
1.06
183
1.81
0.04
0.09
304
HW VEIN
NP-22-295
336.40
339.15
2.75
1.70
682
3.62
0.67
2.21
990
HW VEIN
NP-22-295
438.40
441.05
2.65
1.41
493
3.15
0.85
2.98
813
NAPOLEON
NP-22-296A
424.10
427.05
2.95
1.83
296
1.34
0.26
0.68
403
HW VEIN
NP-22-296A
489.10
489.75
0.65
0.41
211
2.11
1.24
2.40
466
HW VEIN
NP-22-296A
547.90
555.75
7.85
4.80
25
0.32
0.07
0.28
58
NAPOLEON
NP-22-299
437.85
438.75
0.90
0.58
1,340
11.45
1.49
1.13
2,150
HW VEIN
NP-22-299
443.85
447.05
3.20
2.06
459
6.12
1.16
2.18
975
HW VEIN
NP-22-299
490.45
491.25
0.80
0.68
1,155
5.39
0.14
0.23
1,474
NAPOLEON
NP-22-300
347.95
353.85
5.90
3.90
913
5.28
0.15
0.25
1,241
NAPOLEON
NP-22-301
264.55
265.50
0.95
0.44
202
0.20
1.14
1.42
283
HW VEIN
NP-22-301
273.00
274.50
1.50
0.80
444
1.54
0.06
0.20
532
NAPOLEON
NP-22-304
301.95
302.65
0.70
0.56
789
2.57
0.46
1.30
977
NAPOLEON
NP-22-304
421.60
425.35
3.75
1.82
81
1.69
0.06
0.17
204
FW VEIN
Table 1:
Downhole drill intersections from the holes completed along the Napoleon vein.
Note: AgEq = Ag ppm x Ag rec. + (((Au ppm 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
$20.70/oz silver, $1,655/oz gold, $1,902/t lead and$2,505/t zinc. Metallurgical recoveries applied in the calculation (93% for silver, 90% for gold, 94% for lead and 94 % for zinc),
were determined for the Napoleon vein (see press release dated February 17, 2022).
Drillhole
Easting
Northing
Elevation
Azimuth
Dip
Depth
NP-22-289
403,849
2,586,432
477
269
-47.7
592.5
NP-22-291
403,766
2,586,090
402
269
-59.0
481.5
NP-22-292A
403,808
2,586,324
443
270
-65.0
621.1
NP-22-295
403,766
2,586,090
402
269
-65.0
562.5
NP-22-296A
403,849
2,586,432
477
269
-51.6
612.0
NP-22-299
403,854
2,586,086
449
270
-64.2
712.5
NP-22-300
403,779
2,586,307
448
275
-48.0
456.0
NP-22-301
403,752
2,586,038
397
268
-60.1
412.5
NP-22-304
403,753
2,586,036
408
270
-65.0
435.3
Table 2:
Napoleon 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 6,761-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.
Panuco
hosts an estimated in-situ indicated mineral resource of 61.1 Moz AgEq and an in-situ
inferred resource of 45.6 Moz AgEq. A NI 43-101 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
, with an effective date of
March 1, 2022
was prepared 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.
Website:
www.vizslasilvercorp.ca
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, and publication of a resource update in Q4 2022.
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 the COVID-19 pandemic; 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 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' management discussion and
analysis. Readers are cautioned against attributing undue certainty to forward
looking statements or
forward-looking information. Although Vizsla 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 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/July2022/28/c3045.html
%SEDAR: 00045314E
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]
CO: Vizsla Silver Corp.
CNW 08:00e 28-JUL-22