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Vizsla Makes Third Discovery, Drilling 1,019 G/T Silver Equiv. over 2.5 Metres at Papayo, 1 km North of Napoleon Discovery at Panuco, Mexico

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Vizsla Makes Third Discovery, Drilling 1,019 G/T Silver Equiv. over 2.5 Metres at Papayo, 1 km North of Napoleon Discovery at Panuco, Mexico

 

 

 

 

 

Vizsla Resources Corp. (TSX-V: VZLA) (OTCQB: VIZSF) (Frankfurt: 0G3) is pleased to announce a third new discovery with the Company’s first step-out drill results along the Napoleon Vein Corridor at the Panuco silver-gold project  in Mexico. A total of three holes have been completed to date at the Papayo Zone, located over one kilometre north of the initial Napoleon discovery with results from the first hole reported in this release.  The Papayo Zone has never previously been drilled and has high-grade outcropping samples along a jog in the vein similar to the initial Napoleon discovery.

 

Drilling Highlight

 

NP-20-18

 

  • 1,019 g/t silver equivalent (689.5 grams per tonne silver, 3.76 g/t gold, 0.25% lead and 0.63 % zinc) over 2.5 metres from 141.5m including;
    • 2,206 g/t silver equivalent (1,515.0 g/t silver, 7.96 g/t gold, 0.5% lead and 1.2 % zinc) over 1.0m from 141.5m
    •  
Note: All numbers are rounded and widths represent downhole lengths.  True widths are estimated at 78% 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

 

Vizsla President and CEO, Michael Konnert, commented: “I am very pleased to announce that we have made a new, high-grade discovery a kilometre north from the original discovery at Napoleon. To have hit a high-grade discovery on the first hole at Papayo is a clear demonstration of the scale and potential of both the Napoleon Vein Corridor and the Panuco district. The Papayo zone has been defined over 90 metres of strike length in the current holes and drilling will continue to step-out to define the full extent of the mineralization, which is open in all directions. Vizsla is well-funded and we are rapidly progressing our exploration drilling program across the project with 3,175m completed in July and three of the four rigs now focused on new discoveries.”

 

Drilling detail

 

The Papayo Zone was targeted as it has the same characteristics as the initial discovery at Napoleon with high grades sampled at surface, small scale mining and a northwest jog of the vein creating a dilation zone to host mineralization.

 

Mineralization is hosted in a wide complex fault zone hosted by andesite tuff.  The zone contains milled breccias within a clay matrix and narrower zones of clay gouge interspersed in larger zones of crackle brecciation.  The breccias show an early massive white quartz event that is cut by a later grey quartz veining event that entrains variable amounts of the white quartz clasts.

 

The veins in each hole have similar textures with the quartz breccia veins containing 3 to 5% fine grained disseminated pyrite as well as minor fine-grained galena, sphalerite and probable acanthite scattered across the interval.  The pyrite content is greater within the main vein in hole NP-20-19 than NP-20-18.

 

All three completed holes have intersected veining at approximately 80-110m below surface and the total distance is over 90m between hole NP-20-19 and NP-20-21.  The drilling plan is to continue expanding the footprint of mineralization to understand the size potential of the mineralized veins and the controls on vein widths and silver grades.

 

Complete table of drillhole intersections

 

 

Drillhole FROM To Width Silver Gold Lead Zinc Silver Equivalent Comment
(m) (m) (m) (g/t) (g/t) (%) (%) (g/t)
NP-20-18 141.50 144.00 2.5 689.5 3.76 0.25 0.63 1,019.4 Main Vein
Incl 141.50 142.50 1.0 1,515.0 7.96 0.50 1.21 2,206.0 Main Vein
NP-20-19 Assays Pending  
NP-20-21 Assays Pending  

 

Table 1:  Downhole drill intersections from the holes completed at the Papayo Zone on the Napoleon Vein Corridor.

 

Note: All numbers are rounded and widths represent downhole lengths.  True widths are estimated at 78% 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

 

Drill Collar Information

 

Prospect Drillhole Easting Northing Elevation Dip Azimuth Hole Depth
Papayo NP-20-18 403330 2588071 546 -50 260 200.0
  NP-20-19 403330 2588071 546 -49.5 222 198.8
  NP-20-21 403330 2588071 546 -46 210 200.5

 

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 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 and underground sampling at the Papayo prospect on the Napoleon vein system. Inset shows detail of drill collar locations. (CNW Group/Vizsla Resources Corp.)

 


Cross section through holes NP-20-18. (CNW Group/Vizsla Resources Corp.)

 

Posted August 31, 2020

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