(VZLA-TSX-V)
VANCOUVER, BC, Jan. 25, 2021 /CNW/ - Vizsla Resources
Corp. (TSX-V: VZLA) (OTCQB: VIZSF) (Frankfurt: 0G3) ("Vizsla" or the
"Company") is pleased to provide results from eight new
holes at the Papayo prospect at the Panuco silver-gold project ("Panuco" or the "Project") in
Mexico. These results extend the Papayo zone over 120 metres
to the south where it remains open.
Drilling Highlights
NP-20-50
- 413 g/t silver equivalent (198.0 g/t silver, 0.96 g/t
gold, 1.43 % lead, and 4.53 % zinc) over 1.91 m true width from 132.4 m including;
- 1,009 g/t silver equivalent (477.9 g/t silver, 2.19 g/t
gold, 3.67 % lead, and 11.7 % zinc) over 0.69 m true width from 132.4 m including
NP-20-36
- 321 g/t silver equivalent (144.3 g/t silver, 1.21 g/t
gold, 0.75 % lead, and 2.41 % zinc) over 2.46 m true width from 184.5 m
Note: All numbers are rounded and widths represent estimated
true widths. Silver equivalent is calculated using the
following formula: Silver-equivalent = ((Au_g/t x 52.48) + (Ag_g/t
x 0.5289) + (Pb_ppm x 0.0013) + (Zn_ppm x 0.0013)) / 0.5627.
Metal price assumptions are $17.50
g/t silver, $1,700 g/t gold,
$0.75 pound lead and $0.85 pound zinc, recoveries assumptions are 96%
gold, 94% silver, 78% lead and 70% zinc based on similar deposit
types. The Company is disclosing results on a silver equivalent
basis due to the overall silver dominant nature of mineralization
at the Panuco project.
Vizsla President and CEO, Michael
Konnert, commented: "Papayo now extends over 240 meters
of strike with two parallel veins containing mineralization and
remains open. It is located approximately 1km north of the
Napoleon discovery and is one of a number of targets along the vein
corridor. Based on these two successes, the Company has
commenced a systematic 100m spaced
program to test the entire 2.7km length of the corridor to find new
zones and define the total endowment of the Napoleon Vein."
Papayo Drilling detail
Drilling at Papayo has defined a central zone with
mineralization that is better developed in the hangingwall vein
(defined by holes NP-20-21, NP-20-28 and NP-20-36). Stepping
to south, drilling has intersected another better developed zone of
mineralization around hole NP-20-50 that is open for expansion with
higher grades in both the hangingwall and footwall veins (Figure
2).
The broader Napoleon structure is hosted in weakly magnetic
microdiorite and trends roughly north – south for over 2,700 m of strike. The structure hosts two
main quartz veins that are separated by 10 to 20m, and dips steeply to the east. Between
the two main veins are a series of smaller splay veins with
variable orientations, that are related to opening along the
structure under strike slip movement. The two main veins have
a variable true width of 0.4 to 15.3
m and are usually hosted next to the main fault structure,
though occasionally also occur outside of the fault.
The two main veins are multi-episodal quartz veins, with
sections of massive white to grey quartz as well as local
brecciation with clasts of grey quartz, white vein quartz and/or
wallrock fragments. The grey quartz is discoloured due to the
presence of very fine-grained argentite. A later breccia cuts
these earlier phases that is grey quartz supporting polymictic
clasts of grey and white quartz along with strong chlorite and fine
to medium grained pyrite, sphalerite and galena. Other
smaller quartz veins have been cut in both the hanging wall and
footwall that appear to be splays with less continuity.
About the Panuco
project
Vizsla has an option to acquire 100% of the recently
consolidated 9,386.5 Ha Panuco district in southern Sinaloa, Mexico, near the city of
Mazatlán. The option allows for the acquisition of over 75 km
of total vein extent, a 500 tpd mill, 35 kms 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.
Complete table of Papayo drill hole intersections
Drillhole
|
From
|
To
|
Est.
True
Width
|
Gold
|
Silver
|
Lead
|
Zinc
|
Silver
Equivalent
|
Comment
|
(m)
|
(m)
|
(m)
|
(g/t)
|
(g/t)
|
(%)
|
(%)
|
(g/t)
|
NP-20-34
|
188.85
|
191.6
|
0.89
|
2.98
|
333.6
|
0.15
|
0.45
|
605.0
|
Hanging wall
vein
|
and
|
211.5
|
213
|
0.57
|
0.94
|
239.2
|
0.66
|
1.25
|
356.5
|
Main vein
|
NP-20-36
|
184.5
|
191
|
2.46
|
1.21
|
144.3
|
0.76
|
2.41
|
321.5
|
Hanging wall
vein
|
NP-20-40
|
256.5
|
258
|
0.48
|
0.54
|
32.6
|
0.05
|
0.14
|
85.4
|
Hanging wall
vein
|
and
|
276
|
277.5
|
0.58
|
0.85
|
59.0
|
0.02
|
0.08
|
136.8
|
Main vein
|
NP-20-41A
|
171.3
|
178.5
|
3.63
|
0.45
|
61.7
|
0.44
|
1.20
|
137.9
|
Hanging wall
vein
|
and
|
204.9
|
207.6
|
1.59
|
0.21
|
29.5
|
0.12
|
0.43
|
60.5
|
Main vein
|
NP-20-44
|
96.65
|
99.1
|
0.76
|
0.32
|
36.2
|
0.11
|
0.54
|
79.1
|
Hanging wall
vein
|
and
|
127.4
|
139.65
|
0.41
|
0.22
|
40.5
|
0.07
|
0.18
|
64.5
|
Main vein
|
NP-20-45
|
120.2
|
123.9
|
0.95
|
0.13
|
36.5
|
0.09
|
0.57
|
61.6
|
Hanging wall
vein
|
and
|
152.7
|
163.3
|
2.72
|
0.24
|
39.6
|
0.26
|
0.70
|
82.4
|
Main vein
|
NP-20-48
|
No Significant
intersection
|
|
NP-20-50
|
117.7
|
118.6
|
0.51
|
1.82
|
257.0
|
0.63
|
4.26
|
524.2
|
Hanging wall
vein
|
and
|
132.4
|
135.45
|
1.91
|
0.96
|
198.0
|
1.43
|
4.53
|
413.5
|
Main vein
|
Incl.
|
132.4
|
133.5
|
0.63
|
2.19
|
477.8
|
3.66
|
11.7
|
1,008.6
|
|
NP-20-52
|
Assays
Pending
|
|
NP-20-57
|
Assays
Pending
|
|
NP-20-60
|
Assays
Pending
|
|
NP-20-63
|
Assays
Pending
|
|
|
|
Table
1:
|
Downhole drill
intersections from the holes completed at the Papayo. All holes are
reported and numbers are non-sequential due to drilling at the
Napoleon discovery on the same vein.
|
Note:
|
All numbers are
rounded and widths represent downhole lengths. Silver
equivalent is calculated using the following formula:
|
|
Silver-equivalent =
((Au_g/t x 52.48) + (Ag_g/t x 0.5289) + (Pb_ppm x 0.0013) + (Zn_ppm
x 0.0013)) / 0.5627. Metal price assumptions are $17.50 g/t
silver, $1,700 g/t gold, $0.75 pound lead and $0.85 pound zinc,
recoveries assumptions are 96% gold, 94% silver, 78% lead and 70%
zinc based on similar deposit types.
|
Drill Collar Information
Prospect
|
Drillhole
|
Easting
|
Northing
|
Elevation
|
Dip
|
Azimuth
|
Hole Depth
|
Papayo
|
NP-20-34
|
403,329
|
2,588,069
|
569
|
-63
|
238
|
249
|
|
NP-20-36
|
403,329
|
2,588,069
|
569
|
-62
|
275
|
229
|
|
NP-20-40
|
403,325
|
2,588,073
|
569
|
-59
|
287
|
292
|
|
NP-20-41A
|
403,329
|
2,588,069
|
569
|
-60
|
222
|
261
|
|
NP-20-44
|
403,320
|
2,588,990
|
557
|
-62
|
231
|
500
|
|
NP-20-45
|
403,329
|
2,588,986
|
548
|
-59
|
210
|
201
|
|
NP-20-48
|
403,239
|
2,588,986
|
548
|
-74
|
210
|
385
|
|
NP-20-50
|
403,390
|
2,588,872
|
518
|
-45
|
270
|
178
|
|
NP-20-52
|
403,391
|
2,588,872
|
518
|
-58
|
270
|
291
|
|
NP-20-57
|
403,390
|
2,588,869
|
518
|
-42
|
242
|
184
|
|
NP-20-60
|
403,091
|
2,588,869
|
518
|
-49
|
242
|
203
|
|
NP-20-63
|
403,345
|
2,588,879
|
519
|
-54
|
265
|
100
|
|
|
Table
2:
|
Drill hole
details. Coordinates in WGS84, Zone 13.
|
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 Company's disclosure of technical or scientific information
in this press release has been reviewed and approved by
Stewart Harris, P.Geo., an
independent consultant for the Company. Mr. Harris is a Qualified
Person as defined under the terms of National Instrument
43-101.
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 development of
Panuco, including drilling
activities; future mineral exploration, development and production;
and completion of a maiden drilling program.
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's
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 Resources Corp.