(VZLA-TSX-V)
VANCOUVER, BC, Oct. 14, 2021 /CNW/ - Vizsla Silver
Corp. (TSXV: VZLA) (OTCQB: VIZSF) (Frankfurt: 0G3) ("Vizsla" or the
"Company") is pleased to provide results from 23 new drill
holes targeting the Tajitos Vein resource area ("Tajitos") at its 100%-owned,
flagship Panuco silver-gold project ("Panuco" or the "Project") located
in Mexico.
Highlights
- CS-21-66: 115 metre step to the southwest:
-
- 3,374 grams per tonne (g/t) silver equivalent (AgEq) (2,607 g/t
silver and 9.90 g/t gold) over 1.5 metres true width (mTW) from
348.3 m and;
- 793.9 g/t AgEq (599.7 g/t silver and 2.47 g/t gold) over 1.3
down hole width from 175.45m
- CS-21-77: 165 metre step to the northeast:
-
- 354 g/t AgEq (216 g/t silver and 1.62 g/t gold) over 4.95 mTW
from 348.3 m and;
- 1,582 g/t AgEq (1,115 g/t silver and 5.73 g/t gold) over 0.7
down hole width from 159.7 m
- CS-21-37: 1,643 g/t AgEq (960 g/t silver and 7.94 g/t
gold) over 1.34 mTW from 207.3 m
- CS-21-50: 807 g/t AgEq (615 g/t silver and 2.46 g/t
gold) over 1.99 mTW from 251.4 m
Note: All numbers are
rounded. Silver equivalent is calculated using the following
formula: Silver-equivalent = ((Au_g/t x 52.48) + (Ag_g/t x 0.5289))
/ 0.5627. Metal price assumptions are $17.50 ounce silver and
$1,700 ounce gold, recoveries assumptions are 96% gold and 94%
silver, based on similar deposit types.
|
Vizsla President and CEO Michael
Konnert commented: "Tajitos continues to exceed our high
expectations with large step out holes now expanding the target
resource area to over 800 metres in total strike length.
Mineralization remains open in both directions along strike and at
depth, where elevated precious to base metal ratios continues to
highlight significant potential for further expansion. The Company
currently has three rigs focused on Tajitos and will continue to take bold
step-outs ahead of declaring the Project's maiden resource in Q1,
2022."
Tajitos Drilling detail
Resource drilling targeting the Tajitos Vein, located along the
Cinco Senores Vein Corridor (Figures 1 & 2), approximately
500m east of the Napoleon Vein, has
significantly expanded the Zone's mineralized footprint, now
measuring 800 metres along strike and to a depth of 300 metres
below surface. Drilling will now progress using a grid pattern on
100-metre centers (previously 50-metre centers) due to increased
confidence in local controls to mineralization and the potential to
rapidly add tonnage ahead of the data cut-off for inclusion in the
maiden project resource.
Step-out drilling to the southwest intersected 3,374 g/t silver
equivalent over a true width of 1.4 metres in one of the deepest
holes completed to date at Tajitos
(CS-21-66). This intercept is located approximately 150 metres from
the nearest drill hole (115 metres along strike) and remains open
in all directions. Infill drilling between this intercept and the
main panel of mineralization has been completed and assays remain
pending.
To the northeast, step-out hole CS-21-77 was similarly
successful, intersecting the vein with increased width; 4.9 metres
true width grading 354 g/t silver equivalent. This intercept is
open in all directions and the company interprets it to be part of
another potential zone of dilation observed along the Tajitos Vein.
Step outs to depth and further to the northeast continue to define
a broad mineralized structure (assays remain pending for these
holes).
Following the receipt of several outstanding assays surrounding
the step-out holes detailed above, Vizsla intends to provide an
updated average width and weighted average grade for the Tajitos
Vein.
CS-21-77 has also identified an additional parallel vein in the
hanging wall of Tajitos, marked by
elevated precious metals grades (0.7 metres downhole width grading
1,582 g/t silver equivalent. This vein appears to be
restricted to the northeast zone and has been intersected by all
step-out holes to the northeast of, and vertically below hole
CS-21-77.
Infill drilling centered on the core area of Tajitos has significantly improved the overall
understanding of the Zone's controls to mineralization. The
high-grade body of mineralization first intercepted in hole
CS-21-01 is observed to pinch to the southwest of holes CS-20-06
and CS-20-11, particularly as the host lithology changes from
Andesite to Diorite. Here, average vein thickness and grade are
observed to decrease before the vein widens and grade lifts again
away from the contact.
Additionally, a notable change in dip direction observed in the
southwest, with an axis from hole CS-21-48 to CS-21-47, may be
responsible for local grade variability, with relatively higher
grades intercepted above and below this change. Holes CS-21-23 and
CS-21-50 are good examples of the mineralization returning to
higher grades beneath and to the southwest of this change in
orientation.
There are currently 10 drill rigs turning at Panuco: four centered on Napoleon resource
drilling, three on Tajitos
resource drilling, two focused on expanding the Josephine prospect
and one testing EM geophysics targets.
Complete table of Tajitos
drill hole intersections
Drillhole
|
From
|
To
|
Length
|
True Width
|
GOLD
|
SILVER
|
Silver
Equivalent
|
Comment
|
(m)
|
(m)
|
|
(m)
|
(g/t)
|
(g/t)
|
(g/t)
|
CS-21-34
|
351
|
353.5
|
2.5
|
1.38
|
1.16
|
79
|
182
|
|
CS-21-35
|
No Significant
values
|
Ands/Dior
cont.
|
CS-21-37
|
207.3
|
209.2
|
1.9
|
1.34
|
7.94
|
960
|
1,643
|
|
Incl.
|
207.3
|
208.5
|
1.2
|
0.85
|
12.05
|
1,465
|
2,501
|
|
And
|
223.2
|
223.9
|
0.70
|
|
4.16
|
2,082
|
2,345
|
Foot wall
|
Incl.
|
223.2
|
223.5
|
0.30
|
|
9.01
|
4,590
|
5,155
|
|
CS-21-38
|
No Significant
values
|
Ands/Dior
cont.
|
CS-21-39
|
No Significant
values
|
|
CS-21-41
|
226.65
|
229.5
|
2.85
|
2.15
|
1.09
|
188
|
278
|
|
CS-21-42
|
No Significant
values
|
|
CS-21-44
|
261.25
|
263.1
|
1.8
|
1.38
|
2.83
|
527
|
759
|
|
Incl.
|
261.25
|
262
|
0.75
|
0.57
|
3.17
|
639
|
896
|
|
CS-21-45
|
No Significant
values
|
Ands/Dior
cont.
|
CS-21-46
|
182.5
|
183.1
|
0.5
|
0.46
|
0.17
|
92
|
103
|
|
CS-21-47
|
313.6
|
322.3
|
8.7
|
|
0.51
|
99
|
141
|
Hanging
wall
|
Incl.
|
313.6
|
314.7
|
1.1
|
|
1.78
|
418
|
558.9
|
|
And
|
401.2
|
401.8
|
0.55
|
0.43
|
0.16
|
35
|
48
|
Ands/Dior
cont.
|
CS-21-48
|
No Significant
values
|
Dip change
|
CS-21-49
|
176.05
|
184.5
|
8.45
|
|
2.56
|
304
|
524
|
Hanging
wall
|
Incl.
|
179.45
|
181.0
|
1.55
|
|
8.27
|
816
|
1,538
|
|
And
|
358.7
|
363.5
|
4.75
|
3.14
|
0.12
|
23
|
33
|
|
CS-21-50
|
251.4
|
254.3
|
2.85
|
1.99
|
2.46
|
615
|
807
|
|
Incl.
|
251.4
|
252.4
|
1.0
|
0.70
|
6.45
|
1,640
|
2,143
|
|
CS-21-51
|
373.85
|
375.7
|
1.85
|
0.97
|
0.16
|
62
|
73
|
|
CS-21-52
|
291.75
|
293.0
|
1.25
|
0.86
|
3.37
|
315
|
610
|
|
CS-21-53
|
333.2
|
335.45
|
2.25
|
2.04
|
0.33
|
51
|
79
|
Dip change
|
CS-21-54
|
No Significant
values
|
|
CS-21-55
|
No Significant
values
|
Dip change
|
CS-21-57A
|
No Significant
values
|
Dip change
|
CS-21-59A
|
269.55
|
271.6
|
2.05
|
1.39
|
3.26
|
73
|
372
|
|
Cs-21-66
|
175.45
|
176.8
|
1.3
|
|
2.47
|
600
|
794
|
Hanging
wall
|
And
|
348.3
|
350.5
|
2.2
|
1.50
|
9.90
|
2,607
|
3,374
|
|
CS-21-77
|
159.7
|
160.4
|
0.7
|
|
5.73
|
1,115
|
1,582
|
Hanging
wall
|
And
|
182.9
|
187.9
|
4.95
|
4.38
|
1.62
|
216
|
354
|
|
Table
1: Downhole drill intersections from the holes
completed at the Tajitos Vein on the Cinco Senores Vein
Corridor.
|
Note: All numbers are
rounded. Silver equivalent is calculated using the following
formula: Silver-equivalent = ((Au_g/t x 52.48) + (Ag_g/t x 0.5289))
/ 0.5627. Metal price assumptions are $17.50 ounce silver and
$1,700 ounce gold, recoveries assumptions are 96% gold and 94%
silver, based on similar deposit types.
|
Drill Collar Information
Prospect
|
Drillhole
|
Easting
|
Northing
|
Elevation
|
Dip
|
Azimuth
|
Hole
Depth
|
Tajitos
|
CS-21-34
|
404,353
|
2,586,793
|
600
|
-66
|
299
|
381
|
|
CS-21-35
|
404,280
|
2,586,736
|
564
|
-61
|
322
|
251
|
|
CS-21-37
|
404,279
|
2,586,735
|
564
|
-68
|
296
|
300
|
|
CS-21-38
|
404,280
|
2,586,736
|
564
|
-70
|
328
|
360
|
|
CS-21-39
|
404,417
|
2,587,022
|
521
|
-74
|
280
|
305
|
|
CS-21-41
|
404,456
|
2,586,929
|
527
|
-60
|
302
|
276
|
|
CS-21-42
|
404,456
|
2,586,929
|
527
|
-69
|
303
|
306
|
|
CS-21-44
|
404,458
|
2,586,923
|
526
|
-59
|
284
|
305
|
|
CS-21-45
|
404,544
|
2,586,776
|
529
|
-37
|
299
|
399
|
|
CS-21-47
|
404,544
|
2,586,776
|
529
|
-45
|
298
|
431
|
|
CS-21-48
|
404,341
|
2,586,524
|
582
|
-41
|
307
|
291
|
|
CS-21-49
|
404,353
|
2,586,793
|
600
|
-73
|
304
|
389
|
|
CS-21-50
|
404,341
|
2,586,524
|
582
|
-52
|
309
|
363
|
|
CS-21-51
|
404,353
|
2,586,792
|
600
|
-74
|
275
|
386
|
|
CS-21-52
|
404,341
|
2,586,524
|
582
|
-60
|
315
|
315
|
|
CS-21-53
|
404,364
|
2,586,657
|
601
|
-57
|
309
|
366
|
|
CS-21-54
|
404,340
|
2,586,524
|
582
|
-66
|
315
|
378
|
|
CS-21-55
|
404,364
|
2,586,657
|
601
|
-64
|
310
|
384
|
|
CS-21-57A
|
404,364
|
2,586,657
|
601
|
-62
|
300
|
387
|
|
CS-21-58
|
404,320
|
2,586,484
|
586
|
-70
|
312
|
414
|
|
CS-21-59A
|
404,364
|
2,586,657
|
601
|
-68
|
299
|
372
|
|
CS-21-66
|
404,277
|
2,586,414
|
590
|
-69
|
270
|
392
|
|
CS-21-77
|
404,504
|
2,587,123
|
549
|
-49
|
297
|
288
|
Table
2: Drill hole 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 6,754.1-hectare, past producing district
benefits from over 75 kilometres of total vein extent, a 500 ton
per day mill, 35 kilometres 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.
Note: Two new claims have been acquired adding 149.9 hectares of
new area. 4,103.5 hectares previously reported as part of the
Panuco project have been removed
from the total hectares due to 4 claims being located at a
significant distance from the project. These hectares remain as
100% owned by Vizsla Silver.
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
Martin Dupuis, P.Geo., Vice
President of Technical Services for Vizsla Silver. Mr. Dupuis 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
programs and mobilization of drill rigs; 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 Silver Corp.