Vizsla Resources Corp. (TSX-V: VZLA) (OTCQB: VIZSF) (Frankfurt: 0G3) is pleased to announce additional drilling results from the Napoleon Vein Corridor at the Panuco silver-gold project in Mexico. A total of sixteen holes have been completed to date at Napoleon with results from three new holes reported in this release. The high-grade intersection is from the deepest hole drilled to date (over 100m below the very high grades intersected in NP-20-07). Importantly, the mineralization remains open at depth, to the north and to the south.
|Note: All numbers are rounded and widths represent downhole lengths. True widths are estimated at between 22-54% of 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.|
Vizsla President and CEO, Michael Konnert, commented: “The Napoleon discovery is continuing to grow with hole NP-20-08, significantly extending high grade mineralization to depth. These results have returned both high grades and broad intervals. With the recently closed C$30M bought deal financing, the Company is well positioned to continue with the four drill rigs for the rest of 2020. We are excited to continue expanding the Napoleon discovery and to test our targets to demonstrate the “district scale”, high grade potential of Panuco.”
The Napoleon Vein Corridor is located almost entirely on concessions optioned from Rio Panuco. That option provides Vizsla the right to purchase 100% of their assets, including the 500 tonne per day El Coco mill, a tailings facility, roads, power and various permits for a total of US$23M.
Complete table of drillhole intersections
|Incl.||108.90||109.80||1.8||44.9||2.61||0.25||1.19||318.6||Hanging wall Vein|
|And||115.90||119.40||3.5||207.6||1.31||0.33||2.08||373.6||Hanging wall Vein|
|Incl.||68.00||69.00||1.0||619.0||5.54||2.55||3.05||1,227.9||Hanging wall Vein|
|Incl.||74.25||75.95||1.7||63.4||2.65||0.08||0.25||314.1||Hanging wall Vein|
Table 1: Downhole drill intersections from the holes completed at Napoleon.
|Note: All numbers are rounded and widths represent downhole lengths. True widths are estimated at between 22-54% of 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. The Company is disclosing results on a silver equivalent basis due to the overall silver dominant nature of mineralization at the Panuco project.|
Hole NP-20-08 was drilled beneath the very high grade results from hole NP-20-07 (see news release dated July 8th, 2020), intersecting a wide zone with multiple fissure veins and intense silicification. Stockworks are common between veins. A broad zone of mineralization is defined over 27.0 metres from 103.5 metres downhole averaging 127.3 g/t silver equivalent with discrete higher grade veins in between. Further into the footwall two additional veins were intersected, with a deeper intersection of 4.5 metres grading 737.3 g/t silver equivalent from 173.5 metres downhole, including 2.0 metres grading 1,228 g/t silver equivalent.
This intercept is the deepest drilled so far at Napoleon. It is over 175m from surface and 100m beneath the high grade intercept in hole NP-20-07. This provides significant room to continue expanding the mineralization at depth.
Hole NP-20-09 tested the main vein ~25m south of NP-20-07. It intersected a broad interval of well mineralized vein with a very high grade sub-interval. It confirmed that the 60m zone between holes NP-20-03 and NP-20-07 is in the heart of the mineralized body. Additional drilling is planned to develop further mineralization beneath this intersection.
NP-20-10 was drilled to the north of hole NP-20-07. It intersected a single vein with good mineralization and remains open to the north and to depth.
Overall, the vein has been intersected over a strike length of 145m and down to 175m below surface. It remains open to the north, south and at depth. The Company will continue both step out drilling to expand the footprint and infill drilling to understand the controls and volumes of the very high grade mineralization.
Table 2: Drill hole details. Coordinates in WGS84, Zone 13.
About the Panuco project
Vizsla has an option to acquire 100% of the newly-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.
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.
Panuco’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.
Figure 1: Plan map showing location of drillholes, mapped veins and surface and underground sampling along the Napoleon vein. Inset shows detail of drill collar locations (Results in this release have red labels). (CNW Group/Vizsla Resources Corp.)
Figure 2: Cross section through holes NP-20-06, NP-20-07 and NP-20-08. (CNW Group/Vizsla Resources Corp.)
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We acknowledge the [financial] support of the Government of Canada.