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Vizsla Makes Fourth Discovery, Drilling 3,581 G/t Silver Equiv. Over 1.15 Metres Within 4.5 Metres Of 1,808 G/t Silver Equiv. at Tajitos Vein at Panuco, Mexico

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Vizsla Makes Fourth Discovery, Drilling 3,581 G/t Silver Equiv. Over 1.15 Metres Within 4.5 Metres Of 1,808 G/t Silver Equiv. at Tajitos Vein at Panuco, Mexico

 

 

 

 

 

Vizsla Resources Corp. (TSX-V: VZLA) (OTCQB: VIZSF) (Frankfurt: 0G3) is pleased to announce a fourth new discovery with the Company’s first drill holes into the Tajitos vein on the Cinco Senores Vein Corridor at the Panuco silver-gold project in Mexico. A total of four holes have been completed to date into the Tajitos vein, located 900 metres southeast of the first Napoleon discovery with results from the first three holes reported in this release.  The Tajitos vein appears to have seen significant mine development but has never previously been drilled.

 

Drilling Highlights

 

CS-20-01

  • 1,808 g/t silver equivalent (1,200.6 grams per tonne silver and 7.29 g/t gold) over 4.5 metres from 75.90 including;
    • 3,581 g/t silver equivalent (2,209.6 g/t silver and 16.13 g/t gold) over 1.15m from 78.65m

 

CS-20-02

  • 1,192 g/t silver equivalent (812.5 g/t silver and 4.59 g/t gold) over 1.15 metres from 110.0m

 

Note: All numbers are rounded and widths represent downhole lengths.  True widths are estimated at between 47-65% 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) / 0.5627).  Metal price assumptions are $17.50 g/t silver and $1,700 g/t gold, recoveries assumptions are 96% gold and 94% silver, based on similar deposit types.

 

Vizsla President and CEO, Michael Konnert, commented: “The Company has now made four high-grade discoveries since July 2020. The Tajitos discovery is the latest demonstration of the Panuco district’s potential. Vizsla is in a solid position to unlock significant value in a district that has never seen systematic exploration.  Vizsla is well funded with over C$30M in the bank to explore veins which have never been mapped, sampled, or drilled, like Napoleon and Cordon del Oro. We are actively stepping out on the four discoveries to expand the footprint of mineralization at each area.”

 

Tajitos Drilling detail

 

The Tajitos vein is northeast trending vein on the Cinco Senores Vein Corridor (Figure 1).  The vein has been sampled over 360 m of strike with consistent mineralization and drilling targeted beneath former workings that are believed to have been productive.  Workings have continued to greater depths than previously understood and reported intersections in holes CS-20-01 and CS-20-02 are residual vein not exploited by earlier mining.

 

The Tajitos vein zone is composed of a quartz breccia vein with an early white locally banded quartz supporting andesite lithic clasts, followed by a later white to greyish quartz supporting brecciated clasts of earlier white quartz veins.  This zone was then cut by a later white to clear quartz vein with local dark bands or patches of fine-grained sulphides that is cutting a zone of quartz psuedomorphs after bladed calcite and pink rhodochrosite.  The better grades are in the earlier breccias associated with dark bands or dark patches of very fine-grained disseminated sulphides.  This vein zone is hosted in a package of andesite flows and tuffs that is variably magnetic.

 

Complete table of Tajitos drill hole intersections

 

Drillhole From To Width Silver Gold Silver
Equivalent
Comment
(m) (m) (m) (g/t) (g/t) (g/t)
CS-20-01 75.90 80.40 4.50 1200.6 7.29 1,808.0 Mining void on
either side
Incl. 78.65 79.80 1.15 2,209.6 16.13 3,581.3  
CS-20-02 110.00 111.15 1.15 812.5 4.59 1,191.6 Mining void on
hangingwall side
CS-20-03 116.70 120.00 3.30 116.1 0.63 167.9  
Incl. 116.7 117.9 1.20 191.0 1.30 300.8  
CS-20-04 Assays Pending  

 

Table 1: Downhole drill intersections from the holes completed at the Tajitos Vein on the Cinco Senores Vein Corridor.
 
Note: All numbers are rounded and widths represent downhole lengths.  True widths are estimated at between 47-65% 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) / 0.5627).  Metal price assumptions are $17.50 g/t silver and $1,700 g/t gold, recoveries assumptions are 96% gold and 94% silver, based on similar deposit types.

 

Cordon del Oro Drilling detail

 

Vizsla has also completed seven holes at the Mojocuan prospect at Cordon del Oro (Figure 1).  The results reported in this release show excellent vein widths with largely low-to medium silver and gold grades.  The Company is continuing to drill in this area vectoring towards higher grade mineralization.  Holes CO-20-01 and CO-20-02 where drilled from the footwall due to topography restrictions which combined with the vein dipping shallower than measured on surface resulted in drilling intersecting the vein at a very high angle.  Holes CO-20-03 to CO-20-07 were drilled from the hangingwall side and are better representations of the vein thickness.

 

The Mojocuan vein zone is composed of multiphase hydrothermal quartz breccia veins with an early white locally banded quartz supporting rhyolite tuff lithic clasts, followed by a later white to greyish quartz supporting brecciated clasts of earlier white quartz veins.  This zone was then fractured again due to continued movement of the principal fault and wide zones of crackle breccia with associated pervasive silicification were developed.  Better grades are in the breccias associated with local weak dark bands or dark patches of very fine-grained disseminated sulphides.  This vein zone is hosted in a package of felsic to andesite flows and tuffs, with the main Cordon del Oro normal fault being the west side of the Animas graben.  The mineralized zone is up to 25 m wide in true width.

 

Complete table of Cordon del Oro drill hole intersections

 

Drillhole From To Width Silver Gold Silver
Equivalent
Comment
(m) (m) (m) (g/t) (g/t) (g/t)
CO-20-01 136.40 146.50 10.10* 16.6 1.75 178.7 *True width is
22% due to high
intersection angle
Incl. 145.00 146.50 1.50* 37.3 9.75 944.3 *True width is
22% due to high
intersection angle
CO-20-02 154.85 198.1 43.25* 26.3 0.18 41.4 *True width is
20% due to high
intersection angle
CO-20-03 79.40 80.60 1.20 128.0 0.85 199.7  
CO-20-04 No Significant Intersection  
CO-20-05 Hole lost before target  
CO-20-06 Assays Pending  
CO-20-07 Assays Pending  

 

Table 2: Downhole drill intersections from the holes completed at the Mojocuan Zone on the Cordon del Oro Vein Corridor.
 
Note: All numbers are rounded and widths represent downhole lengths.  True widths of holes CO-20-01 and -02 are estimated at between 20-22% of downhole lengths, true widths of holes CO-20-03 is approximately 86%.  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 g/t silver and $1,700 g/t gold, recoveries assumptions are 96% gold and 94% silver, based on similar deposit types.

 

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.

 

Drill Collar Information

 

Prospect Drillhole Easting Northing Elevation Dip Azimuth Hole
Depth
Tajitos CS-20-01 404286 2586957 531 -67 300 90.3
  CS-20-02 404286 2586957 531 -77 300 151.5
  CS-20-03 404286 2586957 531 -84 300 181.5
  CS-20-04 404393 2587044 502 -71 256 199.6
Mojocuan  CO-20-01 407879 2588128 885 -41 30 201.4
  CO-20-02 407879 2588127 885 -40 70 219
  CO-20-03 408077 2588152 909 -45 210 247.5
  CO-20-04 408077 2588152 909 -45 234 198
  CO-20-05 408077 2588152 909 -70 234 37.7
  CO-20-06 408083 2588153 935 -46 260 154.9
  CO-20-07 408083 2588153 935 -90 0 217.6

 

Table 3: Drill hole details. Coordinates in WGS84, Zone 13. 

 

Appointment of Director of Geology

 

The Company is pleased to announce that Martin Dupuis has been appointed Director of Geology of Vizsla. Martin has over 25 years of mine geology and exploration experience primarily in precious metals, including 10 years in Latin America. Martin was previously the Director of Geology with Pan American Silver, Technical Services Manager with Aurico Gold, and Chief Geologist at several operations.  

 

Mr Dupuis holds a BSc in Geology from Brock University and an MBA degree from the Beedie School of business. He is a P. Geo registered with EGBC.

 

In conjunction with his appointment, Mr Dupuis has been granted 75,000 options at a strike price of $1.76 which will vest immediately. The options are exercisable for a period of five years from the date of the grant and are subject to the policies of the TSX Venture Exchange.

 

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 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.

 

Plan map showing location of drill holes, mapped veins and surface sampling at the Tajitos prospect on the Cinco Senores Vein Corridor and Mojocuan prospect on the Cordon del Oro Vein Corridor. Results are reported from holes in red. Inset shows detail of Tajitos drill collar locations. (CNW Group/Vizsla Resources Corp.)

 

 


Drill core through vein in hole CS-20-01 at the Tajitos Vein (CNW Group/Vizsla Resources Corp.)

 

 


Cross-section through drill holes CS-20-01, CS-20-02 and CS-20-03 at Tajitos Vein. (CNW Group/Vizsla Resources Corp.)

Posted September 3, 2020

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