NYSE: VZLA TSX-V:
VZLA
VANCOUVER,
BC, Aug. 23, 2023 /CNW/ - Vizsla Silver
Corp. (TSXV: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) ("Vizsla" or the
"Company") is pleased to report results from 11 new
drillholes targeting the southern extension of the Napoleon Vein,
at its 100%-owned flagship Panuco
silver-gold project ("Panuco") located in Mexico. The new drill results are centered on
the western portion of the district and are part of Vizsla's
ongoing 90,000 metre resource infill and
expansion/discovery-focused drill program.
Highlights
- NP-23-388 returned 646 grams per tonne (g/t) silver
equivalent (AgEq) over 10.00 metres true width (mTW) (217 g/t
silver, 3.03 g/t gold, 1.44 % lead and 5.44 % zinc),
-
- including: 3,625 g/t AgEq over 0.95 mTW (1,590 g/t silver,
25.50 g/t gold, 7.28 % lead and 5.80 % zinc),
- and 1,323 g/t AgEq over 0.78 mTW (159 g/t silver, 0.89 g/t
gold, 4.97 % lead and 26.70 % zinc)
- NP-23-391 returned 1,568 g/t AgEq over 1.90 mTW (908 g/t
silver, 7.37 g/t gold, 1.62 % lead and 4.91 % zinc),
-
- including: 2,205 g/t AgEq over 0.65 mTW (1,500 g/t
silver, 8.96 g/t gold, 2.05 % lead and 3.98 % zinc)
- And 648 g/t AgEq over 3.20
mTW (559 g/t silver, 1.53 g/t gold, 0.23 % lead and
0.49 % zinc),
-
- including: 1,720 g/t AgEq over 0.96 mTW (1,500 g/t
silver, 3.89 g/t gold, 0.61 % lead and 1.22 % zinc)
- NP-23-392 returned 989 g/t AgEq over 2.50 mTW (527 g/t
silver, 3.78 g/t gold, 2.13 % lead and 4.98 % zinc),
-
- including: 2,465 g/t AgEq over 0.69 mTW (1,500 g/t silver,
9.97 g/t gold, 5.25 % lead and 6.66 % zinc).
"Infill and expansionary drilling targeting
the southern extent of Napoleon continues to intersect high silver
and gold grades on both the main vein and its overlapping splay
structures," commented Michael
Konnert, President and CEO. "We have now identified
several splay veins branching off the main Napoleon structure
located within both the footwall and hanging wall that remain open
for future expansion. Most notable is the shallow dipping Hanging
Wall 4 structure which returned 646 grams per tonne silver
equivalent over ten meters true width and is open down dip. We
continue to view the Napoleon Area as a primary target for future
resource growth and development. Of the six drill rigs currently
turning on the property, infill drilling continues at
Napoleon with one rig. In addition to drilling, we are pleased to
announce Vizsla has achieved 1.5 million work hours without a lost
time incident at Panuco. This is
yet another major milestone for the Company and is a testament to
the focus and dedication of every Vizsla employee and contractor
working on the Project."
Details of the Napoleon Southern
Extent
Infill and step-out (expansionary) drilling
completed to date has led to an improved understanding of the
mineralization controls along the Napoleon vein corridor.
Observations based on metal zonation and alteration continue to
support the interpretation that the corridor is tilted where the
southern extent of drilling is at the top of the mineralized
horizon, near surface (Figure 5).
Previously reported high-grade gold assay values
near surface support the model (see press releases dated
December 16, 2021 and March 29, 2022). Infill drilling assay results
disclosed in this news release, show additional high-grade silver
and gold values on vein splays at the hanging wall of the main
Napoleon structure. The vein splays are situated between 25 to 120
metres into the hanging wall and typically contain high lead and
zinc concentrations in addition to the precious metal values.
Results from recent drilling suggests that the shallow dipping
Hanging Wall 4 splay (HW splay 4) remains open down dip to the east
(Figure 4). Results from hole NP-23-388 warrant follow up drilling
to the east and at depth along Hanging Wall 4 (long section not
shown). Vizsla continues working on structural and 3D geologic
modelling to design specific drill holes for the exploration of the
vein splays (HW splay 2 and HW splay 4).
Drillhole
|
From
|
To
|
Downhole
Length
|
Estimated
True
width
|
Ag
|
Au
|
Pb
|
Zn
|
AgEq
|
Vein
|
(m)
|
(m)
|
(m)
|
(g/t)
|
(g/t)
|
(g/t)
|
%
|
%
|
(g/t)
|
NP-23-365A
|
No significant
values
|
HW 7
|
NP-23-365A
|
No significant
values
|
HW 2
|
NP-23-365A
|
454.65
|
455.15
|
0.5
|
0.45
|
178
|
8.33
|
0.07
|
0.17
|
736
|
Napoleon
|
NP-23-365A
|
No significant
values
|
FW 1
|
NP-23-365A
|
496.5
|
497.5
|
1
|
0.85
|
290
|
1.71
|
1.05
|
1.56
|
473
|
FW 2
|
NP-23-370
|
346.1
|
346.65
|
0.55
|
0.45
|
597
|
0.72
|
0.02
|
0.04
|
606
|
HW 6
|
NP-23-370
|
No significant
values
|
HW 2
|
NP-23-370
|
432.05
|
433.25
|
1.2
|
1
|
349
|
1.58
|
0.05
|
0.13
|
437
|
Napoleon
|
NP-23-374
|
303.9
|
306.05
|
2.15
|
1.7
|
90
|
0.95
|
0.02
|
0.03
|
149
|
HW 7
|
NP-23-374
|
No significant
values
|
HW 2
|
NP-23-374
|
527.9
|
529.25
|
1.35
|
1
|
34
|
0.32
|
0.02
|
0.02
|
173
|
Napoleon
|
NP-23-374
|
No significant
values
|
FW 2
|
NP-23-374
|
585.8
|
586.25
|
0.45
|
0.45
|
433
|
2.92
|
0.83
|
1.19
|
667
|
FW 3
|
NP-23-378
|
555
|
556
|
1
|
0.9
|
1,135
|
1.29
|
1.14
|
4.74
|
1,348
|
HW 2
|
NP-23-378
|
563.8
|
569
|
5.2
|
4.3
|
73
|
1.42
|
0.46
|
1.24
|
223
|
Napoleon
|
Includes
|
566.9
|
568
|
1.1
|
0.91
|
284
|
1.92
|
1.44
|
3.28
|
555
|
|
NP-23-378
|
575.9
|
577.5
|
1.6
|
1.1
|
1,805
|
16.56
|
0.2
|
0.38
|
2,817
|
FW 1
|
Includes
|
576.5
|
577.5
|
1
|
0.69
|
2,780
|
26.1
|
0.29
|
0.55
|
4,376
|
|
NP-23-378
|
588
|
588.6
|
0.6
|
0.46
|
184
|
1.48
|
0.6
|
15.9
|
865
|
FW 2
|
NP-23-380
|
317.05
|
322.45
|
5.4
|
4.1
|
111
|
0.64
|
0.01
|
0.01
|
147
|
HW 7
|
NP-23-380
|
554.2
|
555.7
|
1.5
|
1.35
|
551
|
1.08
|
1.29
|
6.23
|
849
|
HW 2
|
NP-23-380
|
581.25
|
581.7
|
0.45
|
0.4
|
346
|
2.21
|
0.8
|
4.29
|
650
|
Napoleon
|
NP-23-383
|
No significant
values
|
HW 7
|
NP-23-383
|
616.15
|
618.1
|
1.95
|
1.27
|
207
|
2.37
|
4.43
|
14.37
|
1,005
|
HW 2
|
Includes
|
616.8
|
617.8
|
1
|
0.65
|
270
|
4.15
|
8.4
|
23.2
|
1,621
|
|
NP-23-383
|
636.25
|
637
|
0.75
|
0.7
|
154
|
1.37
|
1.04
|
4.21
|
419
|
Napoleon
|
NP-23-386
|
140.9
|
141.85
|
0.95
|
0.78
|
218
|
0.24
|
0.21
|
0.43
|
241
|
HW 7
|
NP-23-386
|
410.35
|
410.75
|
0.4
|
0.3
|
430
|
1.59
|
0.08
|
0.22
|
517
|
HW 2
|
NP-23-386
|
414.35
|
415.6
|
1.25
|
0.85
|
177
|
0.73
|
0.11
|
0.25
|
226
|
Napoleon
|
NP-23-386
|
536.8
|
537.25
|
0.45
|
0.4
|
444
|
10.3
|
0.46
|
1.11
|
1,162
|
FW 3
|
NP-23-388
|
No significant
values
|
HW 5
|
NP-23-388
|
426.25
|
437.8
|
11.55
|
10
|
217
|
3.03
|
1.44
|
5.44
|
646
|
HW 4
|
Includes
|
434.8
|
435.9
|
1.1
|
0.95
|
1,590
|
25.5
|
7.28
|
5.8
|
3,625
|
|
Includes
|
435.9
|
436.8
|
0.9
|
0.78
|
159
|
0.89
|
4.97
|
26.7
|
1,323
|
|
NP-23-388
|
556.8
|
559
|
2.2
|
1.95
|
31
|
0.59
|
1.46
|
6.36
|
343
|
HW 2
|
NP-23-388
|
No significant
values
|
Napoleon
|
NP-23-391
|
No significant
values
|
HW 7
|
NP-23-391
|
420.1
|
424.1
|
4
|
3.2
|
559
|
1.53
|
0.23
|
0.49
|
648
|
HW 2
|
Includes
|
422.35
|
423.55
|
1.2
|
0.96
|
1,500
|
3.89
|
0.61
|
1.22
|
1,720
|
|
NP-23-391
|
No significant
values
|
Napoleon
|
NP-23-391
|
483.6
|
484.85
|
1.25
|
1
|
64
|
0.72
|
0.81
|
0.77
|
160
|
FW 1
|
NP-23-391
|
526.15
|
528.2
|
2.05
|
1.9
|
908
|
7.37
|
1.62
|
4.91
|
1,568
|
FW 2
|
Includes
|
526.15
|
526.85
|
0.7
|
0.65
|
1,500
|
8.96
|
2.05
|
3.98
|
2,205
|
|
NP-23-392
|
408.1
|
410.65
|
2.55
|
2.5
|
527
|
3.78
|
2.13
|
4.98
|
989
|
HW 4
|
Includes
|
409.25
|
409.95
|
0.7
|
0.69
|
1,500
|
9.97
|
5.25
|
6.66
|
2,465
|
|
NP-23-392
|
450.5
|
451.5
|
1
|
0.95
|
258
|
1.62
|
1.95
|
15.45
|
967
|
HW 3
|
NP-23-392
|
No significant
values
|
HW 2
|
NP-23-392
|
644.6
|
646.6
|
2
|
1.55
|
40
|
1.96
|
0.62
|
11.4
|
602
|
Napoleon
|
NP-23-393
|
258.15
|
259.2
|
1.05
|
0.8
|
204
|
3.52
|
1.42
|
6.52
|
706
|
HW 4
|
NP-23-393
|
485.35
|
486.35
|
1
|
0.6
|
65
|
0.38
|
1.34
|
13.85
|
627
|
HW 3
|
NP-23-393
|
No significant
values
|
Napoleon
|
Table 1:
Downhole drill intersections from the holes completed along the
Napoleon main and vein splays. Note: AgEq = Ag g/t x Ag rec. +
((Au g/t 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 $24.00/oz silver, $1,800/oz gold, $2,424.4/t lead
and $2,975.4/t zinc. Metallurgical recoveries assumed are 93% for
silver, 90% for gold, 94% for lead and 94% for zinc. Metallurgical
recoveries used in this release are from metallurgical test results
of the Napoleon vein (see press release dated February 17,
2022).
|
Drillhole
|
Easting
|
Northing
|
Elevation
|
Azimuth
|
Dip
|
Depth
|
NP-23-365A
|
403,888
|
2,586,230
|
434
|
270
|
-49
|
636.0
|
NP-23-370
|
403,891
|
2,586,232
|
434
|
258
|
-40
|
534.0
|
NP-23-374
|
403,967
|
2,586,189
|
467
|
267
|
-43
|
621.0
|
NP-23-378
|
403,967
|
2,586,189
|
467
|
268
|
-52
|
674.0
|
NP-23-380
|
403,967
|
2,586,189
|
467
|
268
|
-56
|
702.0
|
NP-23-383
|
403,967
|
2,586,189
|
467
|
270
|
-60
|
750.0
|
NP-23-386
|
403,856
|
2,586,035
|
450
|
271
|
-60
|
582.0
|
NP-23-388
|
403,849
|
2,586,432
|
477
|
253
|
-68
|
705.0
|
NP-23-391
|
403,854
|
2,586,086
|
449
|
271
|
-63
|
558.0
|
NP-23-392
|
403,849
|
2,586,432
|
477
|
270
|
-61
|
738.0
|
NP-23-393
|
403,683
|
2,586,973
|
480
|
251
|
-57
|
582.0
|
Table 2:
Napoleon vein drillhole details. Coordinates in WGS84, Zone
13.
|
Safety Milestone
Vizsla Silver is proud to report that it has
achieved 1.5 million work hours without any lost time incidents at
Panuco. The Company commends the
safety department, employees, and contractors for their ongoing
focus on the safety culture build over the life of the project and
ensuring safe work conditions at the work sites.
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 7,189.5-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.
The Panuco Project hosts an estimated in-situ
indicated mineral resource of 104.8 Moz AgEq and an in-situ
inferred resource of 114.1 Moz AgEq. An updated NI 43-101 technical
report titled "Technical Report on the Mineral Resource Estimate
Update for the Panuco Ag-Au-Pb-Zn Project, Sinaloa State,
Mexico" was filed on SEDAR on
March 10, 2023, with an effective
date of January 19, 2023 was prepared
by Allan Armitage, Ph. D., P. Geo., Ben Eggers, MAIG,
P.Geo. and Yann Camus, P.Eng. of SGS Geological Services.
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 250,000 metres of
drilling at Panuco leading to the
discovery of several new high-grade veins. For 2023, Vizsla has
budgeted +90,000 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, 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.
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.