Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) is pleased to report results from 12 new drillholes targeting the recently discovered “La Luisa” Vein located 700 metres west of the Napoleon Vein, at its 100%-owned flagship Panuco silver-gold project in Mexico. The geology and vein geochemistry suggest the reported drill-hole intercepts correspond to shallow vein-levels, analogous to the previously proposed “Gold Rich-Shallow” level at the southern end of Napoleon.
“Exploration continues outboard of the major resource centers outlined in the March 2022 MRE,” commented Michael Konnert, President and CEO. “La Luisa is one of several newly discovered prospects in the western portion of the Panuco District that hosts significant potential to add resources. We have now completed twelve drill holes at La Luisa and are encouraged by similarities shared with the adjacent shallow gold rich zone at Napoleon. This may indicate that results to date from La Luisa correlate to mineralization higher up in the system, with improved grades and widths remaining at depth. Moving forward we will test this depth potential and determine if La Luisa is as robust as Napoleon.”
Details of the La Luisa Vein discovery
The La Luisa Vein is located approximately 700 metres to the west of Napoleon in the southwest portion of the Panuco district. The structure has been mapped on surface for almost 1,000 metres with an average strike of N35°W and dip of 70° – 80° to the NE. The Vein itself is hosted primarily by rhyolite tuffs (the upper part of the regional lower volcanic sequence) and bears vein-textures indicative of being at higher-levels in the epithermal profile.
Drilling completed at La Luisa, has returned significant gold concentrations with generally low silver and base metals. The relatively high gold to silver and base metals ratios observed, suggest this zone is analogous to the previously reported “Gold Rich-Shallow” level at the southern end of Napoleon. At Napoleon, interpretations based on metal zonation and alteration, suggest that the vein corridor has been tilted with the southern extent being at the top of the mineralized horizon, near surface (See press release dated December 16, 2021 and October 12, 2022).
Going forward, Vizsla plans to drill deeper holes at La Luisa to target the zone’s precious metals rich core, which given the ongoing success of the local exploration model utilized at Napoleon, there exists the potential for increased grades and widths along strike and down plunge to the south.
|NP-22-297||No significant assays||La Luisa|
|NP-22-311||No significant assays||La Luisa|
|NP-22-317||No significant assays||La Luisa|
|NP-22-327||Pending assays||La Luisa|
|NP-22-332||Pending assays||La Luisa|
Table 1: Downhole drill intersections from the holes completed along the La Luisa Vein.
Note: AgEq = Ag ppm x Ag rec. + (((Au ppm x Au rec. x Au price/gram) + (Pb% x Pb rec. x Pb price/t) + (Zn% x Zn rec. x Zn price/t))/Ag price/gram). Metal price assumptions are $20.70/oz silver, $1,655/oz gold, $1,902/t lead and$2,505/t zinc. Metallurgical recoveries applied in the calculation (93% for silver, 90% for gold, 94% for lead and 94 % for zinc), were determined for the Napoleon vein (see press release dated February 17, 2022).
Table 2: La Luisa Vein drillhole details. Coordinates in WGS84, Zone 13.
About the Panuco project
The newly consolidated Panuco silver-gold project is an emerging high-grade discovery located in southern Sinaloa, Mexico, near the city of Mazatlán. The 6,761-hectare, past producing district benefits from over 86 kilometres of total vein extent, 35 kilometres of underground mines, 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.
Panuco hosts an estimated in-situ indicated mineral resource of 61.1 Moz AgEq and an in-situ inferred resource of 45.6 Moz AgEq. A NI 43-101 technical report, titled “National Instrument 43-101 Technical Report for the Panuco Project Mineral Resource Estimate Concordia, Sinaloa, Mexico” was filed on SEDAR on April 7, 2022, with an effective date of March 1, 2022 was prepared by Tim Maunula, P.Geo., Principal Geologist, T. Maunula & Associates Consulting Inc and Kevin Murray, P.Eng, Manager Process Engineering, Ausenco.
About Vizsla Silver
Vizsla Silver is a Canadian mineral exploration and development company headquartered in Vancouver, BC, focused on advancing its flagship, 100%-owned Panuco silver-gold project located in Sinaloa, Mexico. To date, Vizsla has completed over 210,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2022, Vizsla has budgeted +120,000 metres of resource/discovery-based drilling, designed to upgrade, and expand the maiden resource as well as test other high priority targets across the district.
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.
In accordance with NI 43-101, Martin Dupuis, P.Geo., COO, is the Qualified Person for the Company and has reviewed and approved the technical and scientific content of this news release.
Figure 1: Plan map of recent drilling along the La Luisa Vein. (CNW Group/Vizsla Silver Corp.)
Figure 2: Longitudinal section of the La Luisa Vein. The section is inclined along the dip of the structure. (CNW Group/Vizsla Silver Corp.)
Figure 3: Cross section highlighting recent drill intercepts on La Luisa Vein. (CNW Group/Vizsla Silver Corp.)
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