Vizsla Silver Corp. (TSX-V: VZLA) (OTCQB: VIZSF) (Frankfurt: 0G3) is pleased to report new results from its ongoing, fully-funded 100,000 metre drill program at its flagship Panuco silver-gold project in Mexico. Today’s results are from ten holes completed at Cordon del Oro, located 4.6km east of the high-grade Napoleon discovery.
Highlights of the new drill results include:
Vizsla President and CEO, Michael Konnert, commented: “Panuco is a much larger district beyond the current areas of resource drilling and this new discovery within the Cordon del Oro corridor emphasises the exploration upside potential of the Project. Cordon del Oro had never been drilled prior to Vizsla’s consolidation of the district and represents an excellent near-surface target within proximity to other mineralized structures. The Company currently has ten rigs on site: six completing resource drilling at Napoleon and Tajitos and four focused on exploration including the recent Josephine EM discovery and this new zone.”
Longsection of Cordon del Oro Drilling
Figure 1: Longitudinal section of drilling at Cordon del Oro with selected holes labelled.
Complete table of Cordon del Oro drill hole intersections
|CO-21-42||No Significant values|
|CO-21-45||No Significant values|
|CO-21-47||No Significant values|
Table 1: Downhole drill intersections from holes completed at the Cordon del Oro 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 oz silver, and $1,700 oz gold, recoveries assumptions are 96% gold, and 94% silver, based on similar deposit types.|
Figure 2: Plan map showing location of drill holes, mapped veins and surface sampling at the Cordon del Oro Vein Corridor. Inset shows detail of San Antonio Vein drill collar locations.
Cordon del Oro Details
The assay results have been received from a near east-west trending splay vein off the Cordon del Oro corridor known as the San Antonio Vein. Cordon del Oro is one of the major northwest trending corridors on the Panuco property and is interpreted based on vein textures and geochemistry to be preserved at a shallower level of erosion relative to surrounding vein corridors including the Napoleon and Tajitos discoveries.
The Company initially focused drilling on the main Cordon del Oro vein, intercepting locally high grades from splay veins in the Aguita Zarca area 530 metres to the south of San Antonio. It was this same targeting approach which led to the discovery of a new zone of mineralization at the San Antonio vein.
The San Antonio vein itself is over 1,800 metres long and hosts three separate historic underground workings. 130 metres of vein strike, to the west of current drilling, is owned by a third party and the remainder on Vizsla claims. Surface samples along the vein to the west of the current drilling have returned grades up to 4,244g/t AgEq and remain to be drill tested, while limited underground sampling has highlighted anomalous to high-grade silver-gold veins between 0.5 to 3.0 metres wide.
The San Antonio vein is hosted in rhyolite tuffs with a thin sliver of andesite forming the footwall in shallower holes. The vein is dominantly composed of massive to weakly banded crystalline quartz with minor manganese on oxidised fracture surfaces.
With encouraging initial results highlighting a zone of near-surface mineralization (currently traced over 200m along strike, 100m down dip and remains open in all directions), the Company will look to expand this new zone both at depth and laterally.
Figure 3: Cross section through drilling, looking to west, with drillholes and intervals labelled.
Drill Collar Information
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-hectare Panuco district in southern Sinaloa, Mexico, near the city of Mazatlán. The option allows for the acquisition of 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.
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 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.
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 Standard of Disclosure for Mineral Projects.
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We acknowledge the [financial] support of the Government of Canada.