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Vizsla Extends Papayo Prospect to the South at Panuco Project, Mexico

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Vizsla Extends Papayo Prospect to the South at Panuco Project, Mexico

 

 

 

 

 

Vizsla Resources Corp. (TSX-V: VZLA) (OTCQB: VIZSF) (Frankfurt: 0G3) is pleased to provide results from eight new holes at the Papayo prospect at the Panuco silver-gold project  in Mexico.  These results extend the Papayo zone over 120 metres to the south where it remains open.

 

Drilling Highlights

 

NP-20-50

  • 413 g/t silver equivalent (198.0 g/t silver, 0.96 g/t gold, 1.43 % lead, and 4.53 % zinc) over 1.91 m true width from 132.4 m including;
  • 1,009 g/t silver equivalent (477.9 g/t silver, 2.19 g/t gold, 3.67 % lead, and 11.7 % zinc) over 0.69 m true width from 132.4 m including

 

NP-20-36

  • 321 g/t silver equivalent (144.3 g/t silver, 1.21 g/t gold, 0.75 % lead, and 2.41 % zinc) over 2.46 m true width from 184.5 m

 

Note: All numbers are rounded and widths represent estimated true widths.  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.

 

Vizsla President and CEO, Michael Konnert, commented: “Papayo now extends over 240 meters of strike with two parallel veins containing mineralization and remains open.  It is located approximately 1km north of the Napoleon discovery and is one of a number of targets along the vein corridor.  Based on these two successes, the Company has commenced a systematic 100m spaced program to test the entire 2.7km length of the corridor to find new zones and define the total endowment of the Napoleon Vein.”

 

Papayo Drilling detail

 

Drilling at Papayo has defined a central zone with mineralization that is better developed in the hangingwall vein (defined by holes NP-20-21, NP-20-28 and NP-20-36).  Stepping to south, drilling has intersected another better developed zone of mineralization around hole NP-20-50 that is open for expansion with higher grades in both the hangingwall and footwall veins (Figure 2).

 

The broader Napoleon structure is hosted in weakly magnetic microdiorite and trends roughly north – south for over 2,700 m of strike.  The structure hosts two main quartz veins that are separated by 10 to 20m, and dips steeply to the east.  Between the two main veins are a series of smaller splay veins with variable orientations, that are related to opening along the structure under strike slip movement.  The two main veins have a variable true width of 0.4 to 15.3 m and are usually hosted next to the main fault structure, though occasionally also occur outside of the fault.

 

The two main veins are multi-episodal quartz veins, with sections of massive white to grey quartz as well as local brecciation with clasts of grey quartz, white vein quartz and/or wallrock fragments.  The grey quartz is discoloured due to the presence of very fine-grained argentite.  A later breccia cuts these earlier phases that is grey quartz supporting polymictic clasts of grey and white quartz along with strong chlorite and fine to medium grained pyrite, sphalerite and galena.  Other smaller quartz veins have been cut in both the hanging wall and footwall that appear to be splays with less continuity.

 

About the Panuco project

 

Vizsla has an option to acquire 100% of the recently 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.

 

Complete table of Papayo drill hole intersections

 

Drillhole From To Est.

True

Width

Gold Silver Lead Zinc Silver
Equivalent
Comment
(m) (m) (m) (g/t) (g/t) (%) (%) (g/t)
NP-20-34 188.85 191.6 0.89 2.98 333.6 0.15 0.45 605.0 Hanging wall vein
and 211.5 213 0.57 0.94 239.2 0.66 1.25 356.5 Main vein
NP-20-36 184.5 191 2.46 1.21 144.3 0.76 2.41 321.5 Hanging wall vein
NP-20-40 256.5 258 0.48 0.54 32.6 0.05 0.14 85.4 Hanging wall vein
and 276 277.5 0.58 0.85 59.0 0.02 0.08 136.8 Main vein
NP-20-41A 171.3 178.5 3.63 0.45 61.7 0.44 1.20 137.9 Hanging wall vein
and 204.9 207.6 1.59 0.21 29.5 0.12 0.43 60.5 Main vein
NP-20-44 96.65 99.1 0.76 0.32 36.2 0.11 0.54 79.1 Hanging wall vein
and 127.4 139.65 0.41 0.22 40.5 0.07 0.18 64.5 Main vein
NP-20-45 120.2 123.9 0.95 0.13 36.5 0.09 0.57 61.6 Hanging wall vein
and 152.7 163.3 2.72 0.24 39.6 0.26 0.70 82.4 Main vein
NP-20-48 No Significant intersection
NP-20-50 117.7 118.6 0.51 1.82 257.0 0.63 4.26 524.2 Hanging wall vein
and 132.4 135.45 1.91 0.96 198.0 1.43 4.53 413.5 Main vein
Incl. 132.4 133.5 0.63 2.19 477.8 3.66 11.7 1,008.6
NP-20-52 Assays Pending
NP-20-57 Assays Pending
NP-20-60 Assays Pending
NP-20-63 Assays Pending
Table 1:  Downhole drill intersections from the holes completed at the Papayo. All holes are reported and numbers are non-sequential due to drilling at the Napoleon discovery on the same vein.

 

Note: All numbers are rounded and widths represent 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.

 

 

Drill Collar Information

 

Prospect Drillhole Easting Northing Elevation Dip Azimuth Hole Depth
Papayo NP-20-34 403,329 2,588,069 569 -63 238 249
NP-20-36 403,329 2,588,069 569 -62 275 229
NP-20-40 403,325 2,588,073 569 -59 287 292
NP-20-41A 403,329 2,588,069 569 -60 222 261
NP-20-44 403,320 2,588,990 557 -62 231 500
NP-20-45 403,329 2,588,986 548 -59 210 201
NP-20-48 403,239 2,588,986 548 -74 210 385
NP-20-50 403,390 2,588,872 518 -45 270 178
NP-20-52 403,391 2,588,872 518 -58 270 291
NP-20-57 403,390 2,588,869 518 -42 242 184
NP-20-60 403,091 2,588,869 518 -49 242 203
NP-20-63 403,345 2,588,879 519 -54 265 100
Table 2: Drill hole details. Coordinates in WGS84, Zone 13.

 

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.

 

Qualified Person

 

The Company’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 view of Papayo prospect with drill hole locations labelled and surface sampling locations shown. (CNW Group/Vizsla Resources Corp.)

 

 


Figure 2:            Cross section of Papayo hole NP-20-50 (CNW Group/Vizsla Resources Corp.)

Posted January 25, 2021

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