Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) is pleased to report results from 10 new drill holes targeting the Tajitos – Copala resource area, at its 100%-owned, flagship Panuco silver-gold project located in Mexico. The results are centered on a vein splay discovered at the northern end of Tajitos, at the footwall of the low angle Copala Vein.
“Tajitos and Copala continue to be a major focus for near-term resource expansion at Panuco,” commented Michael Konnert, President and CEO. “While drilling the northern end of the Tajitos resource area, we discovered a new high-grade splay, located between Tajitos and Copala. This newly discovered vein was not included in the March 2022 resource estimate and further demonstrates the robust nature of the underlying mineralized system in the district. Vizsla currently has three rigs targeting the Tajitos-Copala area focused on category conversion and expanding the initial resource base.”
The Copala Vein is a shallow dipping structure located within the Tajitos hangingwall along the northern extent of the Tajitos resource area. Copala is marked by high precious metals grades (up to 2,147 g/t silver and 18.04 g/t gold over 2.31 mTW, see the Company’s news release dated January 19, 2022) hosted within a broader lower grade envelope of vein-breccia up to 82 meters thick. The area hosts additional precious metals-rich veins including Cristiano and Vein-3, which have been reported previously.
Drilling conducted during Q1 2022 and a reinterpretation of drill-holes from late 2021 along the northern portion of the Tajitos – Copala resource area led to the discovery of a new vein (blind to surface), between the Tajitos and Copala veins. The new vein, referred to as Copala 2, is located at the footwall of the shallow dipping Copala Vein and strikes north-south and dips at 50° to the east. Preliminary interpretations of drilling data highlight a southeast plunging shoot, with a strike length of approximately 300 metres, that remains open to the north. Copala 2 merges with the Copala Vein towards surface, and narrows at depth before intersecting Vein-3.
The Company is encouraged that the northern sector of the Tajitos – Copala resource area continues to grow, and the recent discovery of this new vein demonstrates the great potential for additional blind to surface veins in the district. Vizsla is currently negotiating land access and has prepared a drill plan to advance the exploration of the Tajitos – Copala area to the north. Other target veins that remain to be explored to the north, at the footwall of Tajitos, include Agua Zarca and La Tlacuacha.
|CS-22-152||No Significant Values|
Table 1: Downhole drill intersections from the holes reported for the new splay vein at the foot wall of Copala. Holes CS-21-90 and CS-21-94 drilled in 2021 were previously reported in the Company’s news release dated January 19, 2022.
|Note: AgEq = Ag ppm + (Au ppm x Au price/gram)/Ag price/gram. Metal price assumptions are $20.70/oz silver and $1,655/oz gold|
Table 2: Drillhole details for the new vein splay. 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 6,754-hectare, past producing district benefits from over 75 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.
The Panuco Project hosts an estimated in-situ indicated mineral resource of 61.1Moz AgEq and an in-situ inferred resource of 45.6Moz AgEq The 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, has an effective date of March 1, 2022 and was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) by Tim Maunula, P.Geo., Principal Geologist, T. Maunula & Associates Consulting Inc and Kevin Murray, P.Eng, Manager Process Engineering, Ausenco.
About Vizsla Silver Corp.
Vizsla Silver Corp. 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 140,000 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 National Instrument 43-101 – Standards of Disclosure for Mineral Projects, 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.
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