(VZLA-TSX-V)
VANCOUVER, BC, Nov. 3, 2021 /CNW/ - Vizsla Silver Corp.
(TSXV: VZLA) (OTCQB: VIZSF) (Frankfurt: 0G3) ("Vizsla" or the
"Company") is pleased to provide new results from ongoing
resource focused drilling at its 100%-owned
flagship Panuco silver-gold project ("Panuco" or the "Project") located
in Mexico. In total, ten new holes
targeting the Napoleon Resource Area ("Napoleon") and three
new holes centered on the Tajitos Resource Area ("Tajitos") continue to intersect high-grade
silver-gold mineralization ahead of the Company's maiden project
resource slated for Q1/2022.
Napoleon Highlights
- Resource area expanded by 700 metres along strike (500 m to the north and 200
m to the south)
- Infill drilling continues to demonstrate consistent
near-surface mineralization at northern Papayo Zone
- Napoleon now traced to 450 meters deep, marked by new intercept
~100 m below that of the deepest previously reported interval
- NP-21-173:
-
- 774 g/t AgEq (99 g/t Ag, 6.80 g/t Au, 0.20% Pb and 1.82% Zn)
over 3.7 m downhole length from
108.5 m and
- 592 g/t AgEq (277 g/t Ag, 2.57 g/t Au, 0.26% Pb and 3.69% Zn)
over 1.83 mTW from 136.1 m
- NP-21-186: 200 m step-out
to the south
-
- 280 g/t AgEq (58 g/t silver, 0.93 g/t gold, 0.52% lead and
5.50% zinc) over 2.74 mTW from 359.8
m
Tajitos Highlights
- Resource area expanded by 200 metres along strike to the
northeast
- CS-21-71:
-
- 1,150 g/t AgEq (901 g/t Ag and 3.25 g/t Au) over 3.84 mTW from
201.5 m
- CS-21-60:
-
- 319 g/t AgEq (201 g/t Ag and 1.40 g/t Au) over 6.82 mTW from
334.5 m
Note: All numbers are
rounded. See Table 1 and 2 for Silver equivalent
formulas.
|
Vizsla President and CEO Michael
Konnert commented: "Bold step-outs continue to deliver at
Napoleon with a 200-metre increase to the south and a 500-metre
panel of mineralization developing to the north at the Papayo
Zone. At Tajitos, step-out drilling to the northeast
continues to return consistent wide vein intersections suggesting
the area could contain a much larger resource than previously
considered. Furthermore, both resource areas show significant
depth potential with new intercepts extending mineralization below
the deepest holes in each respective area. The mineral footprint at
Panuco continues to grow at a
rapid pace. We continue to rapidly grow the resource
footprint in advance of the December
1st assay cut-off for inclusion in the Project's
maiden resource in Q1, 2022."
Napoleon Drilling Detail
Resource drilling at Napoleon is focussed on expanding and
infilling three main areas along the Napoleon Vein Corridor with
four drill rigs. To the south, a 200-metre step out from previously
reported NP-21-142, has returned a medium grade vein intercept
(280g/t AgEq over 2.74 mTW) and multiple hanging wall and footwall
intercepts. This large step-out, will require ongoing infill
drilling to further demonstrate local continuity of the
mineralization.
Additionally, deeper drilling along strike and down-plunge to
the south, has been successful in extending mineralization to over
450 metres below surface. Hole NP-21-189B is now the deepest drill hole completed at
Napoleon and supports an additional 100 metres to the zone's
overall vertical profile. The Company will continue to test the
depth potential of the Napoleon Vein with broad 100 metre step-outs
ahead of the December 1st
assay cut-off for inclusion in the maiden resource.
In the north at the Papayo Zone, infill drilling continues to
highlight a consistent zone of near surface mineralization.
The Company anticipates a portion of this zone will be part of the
Project's maiden resource, adding an additional 500 m of strike length to the northern end of the
Napoleon Resource Area.
Tajitos Drilling Detail
The Tajitos Resource area continues to expand, with
mineralization now traced over 1,000
m of strike. New results from the northeast have
locally expanded mineralization by ~200 m, marked by 901 g/t Ag and
3.25 g/t Au (1,15 g/t AgEq) over 3.84 mTW in hole CS-21-71. This,
in addition to multiple wide vein intercepts in holes CS-21-87,
CS-21-90 and CS-21-92 (assays pending) indicate the potential for a
much larger panel of mineralization than previously considered at
Tajitos.
Three rigs continue to drill test Tajitos, where mineralization remains open at
depth and to the northeast. In addition to the main
structure, a second coherent vein has been intersected in the
hanging wall and represents another opportunity for resource
expansion once assays have been received.
Exploration Drilling Update
Two rigs continue to expand the Josephine Vein, with step-out
holes underway testing both the southern and northern extents of
the vein. Over the coming months, systematic drilling will aim to
cover the entire 1,200 metre of known vein strike, with assays to
be reported in batches upon receipt.
One rig is testing electromagnetic (EM) targets at the northern
extension of the Cinco Senores Vein Corridor. Two additional
EM targets have now been drill tested, with one returning broad
intervals of disseminated galena and sphalerite and the second
defining a new vein coincident with the target. Assays remain
outstanding for all EM target holes.
Panuco Project Site Tour
The Company will be hosting an analyst site tour of its
Panuco project on November 3rd & 4th. A
link to the tour presentation along with supplemental materials can
be found on the Company's website.
Complete table of Napoleon Resource Area
Intersections
Drillhole
|
From
|
To
|
Downhole
Length
|
Estimated
true
width
|
Gold
|
Silver
|
Lead
|
Zinc
|
Silver
Equivalent
|
Comment
|
(m)
|
(m)
|
(m)
|
(m)
|
(g/t)
|
(g/t)
|
(%)
|
(%)
|
(g/t)
|
NP-21-163
|
No Significant
Results
|
|
NP-21-164
|
354
|
362.65
|
8.65
|
6.96
|
2.12
|
74
|
0.40
|
2.10
|
324
|
|
Incl.
|
354.9
|
358.15
|
3.25
|
2.62
|
3.50
|
104
|
0.21
|
3.95
|
520
|
|
NP-21-167
|
351.15
|
360.02
|
8.85
|
4.37
|
1.26
|
111
|
0.96
|
3.02
|
313
|
|
Incl.
|
351.15
|
359.75
|
5.6
|
2.77
|
1.78
|
165
|
1.30
|
4.21
|
449
|
|
Incl.
|
235.3
|
353.6
|
0.3
|
0.15
|
7.96
|
988
|
1.63
|
15.95
|
2,077
|
|
NP-21-172
|
362.75
|
370.5
|
7.75
|
7.32
|
1.34
|
114
|
0.21
|
0.77
|
254
|
|
Incl.
|
369.0
|
370.5
|
1.5
|
1.42
|
2.56
|
458
|
0.14
|
0.50
|
684
|
|
NP-21-173
|
108.5
|
112.2
|
3.7
|
|
6.80
|
99
|
0.20
|
1.83
|
774
|
Hanging
wall
|
Incl.
|
108.5
|
109.4
|
0.9
|
|
26.0
|
263
|
0.28
|
5.40
|
2,803
|
|
And
|
136.05
|
141.3
|
5.25
|
1.83
|
2.57
|
277
|
0.27
|
3.7
|
592
|
|
Incl.
|
136.05
|
136.8
|
0.75
|
0.26
|
13.95
|
1,430
|
0.66
|
23.3
|
3,199
|
|
NP-21-175
|
402.15
|
413
|
10.85
|
6.23
|
0.94
|
32
|
0.42
|
2.53
|
186
|
|
NP-21-176
|
167.45
|
169.5
|
2.05
|
1.06
|
0.66
|
64
|
4.37
|
3.18
|
296
|
|
And
|
176.9
|
177.35
|
0.45
|
|
18.75
|
1,090
|
4.18
|
8.19
|
3,059
|
|
And
|
216.0
|
217.5
|
1.5
|
|
2.41
|
71
|
0.36
|
1.02
|
323
|
|
NP-21-179
|
289.3
|
301.95
|
12.65
|
6.82
|
0.74
|
38
|
0.13
|
0.36
|
116
|
|
NP-21-183
|
64.6
|
65.8
|
1.2
|
|
0.44
|
75
|
0.08
|
0.14
|
117
|
|
And
|
275.55
|
276.95
|
1.4
|
|
3.57
|
24
|
1.32
|
1.57
|
422
|
|
NP-21-186
|
33.0
|
37.0
|
4.0
|
|
1.12
|
169
|
0.04
|
0.24
|
297
|
|
And
|
275.55
|
276.95
|
1.4
|
|
3.57
|
24
|
1.32
|
1.57
|
422
|
|
And
|
253.4
|
276.95
|
1.5
|
|
1.09
|
384
|
0.22
|
0.23
|
472
|
|
And
|
359.8
|
363.3
|
3.5
|
2.74
|
0.93
|
58
|
0.52
|
5.50
|
280
|
Napoleon
|
Table
1:
Drillhole intersections from the Napoleon Vein Resource area not
previously reported. All main vein intercepts have an estimated
true width. Intercepts without true width estimates are
hanging wall or footwall intersections.
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)
+ (Pb_ppm x 0.0013) + (Zn_ppm x 0.0013)) / 0.5627. Metal
price assumptions are $17.50 oz silver, $1,700 oz 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.
|
Napoleon Drill Collar Information
Prospect
|
Drillhole
|
Easting
|
Northing
|
Elevation
|
Dip
|
Azimuth
|
Hole
Depth
|
Napoleon
|
NP-21-163
|
403,225
|
2,588,348
|
483
|
-66
|
255
|
501
|
NP-21-164
|
403,188
|
2,587,055
|
530
|
-60
|
90
|
409
|
|
NP-21-167
|
403,589
|
2,586,938
|
472
|
-56
|
264
|
400
|
|
NP-21-172
|
403,188
|
2,587,055
|
530
|
-64
|
90
|
468
|
|
NP-21-173
|
403,408
|
2,587,211
|
478
|
-64
|
279
|
201
|
|
NP-21-175
|
403,590
|
2,586,938
|
472
|
-61
|
264
|
434
|
|
NP-21-176
|
403,249
|
2,588,277
|
532
|
-45
|
270
|
557
|
|
NP-21-179
|
403,572
|
2,587,015
|
449
|
-57
|
267
|
403
|
|
NP-21-183
|
403,249
|
2,588,277
|
532
|
-60
|
270
|
519
|
|
NP-21-186
|
403,724
|
2,586,660
|
444
|
-47
|
277
|
483
|
Table
2:
Drill hole details. Coordinates in WGS84, Zone 13
Complete table of Tajitos
drill hole intersections
Drillhole
|
From
|
To
|
Downhole
Length
|
Estimated
true
width
|
Gold
|
Silver
|
Silver
Equivalent
|
Comment
|
(m)
|
(m)
|
(m)
|
(m)
|
(g/t)
|
(g/t)
|
(g/t)
|
CS-21-60
|
334.5
|
345.2
|
10.7
|
6.82
|
1.40
|
201
|
319
|
|
Incl.
|
339.8
|
345.2
|
5.4
|
3.44
|
2.27
|
308
|
502
|
|
CS-21-61
|
276.25
|
277.5
|
1.25
|
0.76
|
2.04
|
296
|
468
|
|
CS-21-71
|
201.5
|
205.5
|
4
|
3.84
|
3.25
|
901
|
1,150
|
|
Incl.
|
201.5
|
203.6
|
2.1
|
2.02
|
5.88
|
1618
|
2,069
|
|
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.
|
Tajitos Drill Collar Information
Prospect
|
Drillhole
|
Easting
|
Northing
|
Elevation
|
Dip
|
Azimuth
|
Hole
Depth
|
Tajitos
|
CS-21-60
|
404,341
|
2,586,523
|
582
|
-61
|
248
|
426
|
|
CS-21-61
|
404,364
|
2,586,657
|
601
|
-70
|
279
|
342
|
|
CS-21-71
|
404,530
|
2,587,033
|
540
|
-50
|
286
|
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.
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 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.