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VIZSLA SILVER DRILLS 1,030 G/T AGEQ OVER 20.45 METRES AT COPALA – EXPANDS MINERALIZED ZONE TO 600M BY 400M

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VIZSLA SILVER DRILLS 1,030 G/T AGEQ OVER 20.45 METRES AT COPALA – EXPANDS MINERALIZED ZONE TO 600M BY 400M

 

 

 

 

 

 

Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) is pleased to report results from 24 new drill holes targeting the Tajitos – Copala resource area in the western portion of its 100%-owned, flagship Panuco silver-gold project located in Mexico. The results are exclusively for the Copala structure and expand the high-grade mineralized footprint to 600 metres along strike by 400 metres down dip.

 

Highlights

  • CS-22-169 returned 1,030 grams per tonne silver equivalent over 20.45 metres true width (780 g/t silver and 4.23 g/t gold)
    • Includes 2,727 g/t AgEq over 1.21 mTW (2,230 g/t silver and 9.08 g/t gold)
    • And 9,880 g/t AgEq over 0.85 mTW (7,900 g/t silver and 35.20 g/t gold)
  • CS-22-155 returned 900 g/t AgEq over 14.50 mTW (667 g/t silver and 3.89 g/t gold)
  • CS-22-154 returned 1,331 g/t AgEq over 9.35 mTW (1,010 g/t silver and 5.44 g/t gold)
    • Includes 4,579 g/t AgEq over 1.30 mTW (3,548 g/t silver and 17.78 g/t gold)
  • CS-22-164 returned 1,242 g/t AgEq over 4.40 mTW (802 g/t silver and 6.89 g/t gold)
  • CS-22-160 returned 2,007 g/t AgEq over 3.40 mTW (1,642 g/t silver and 6.67 g/t gold)

 

“The Copala Vein continues to exceed our expectations, delivering excellent precious metal grades over very large widths,” commented Michael Konnert, President and CEO. “When we first discovered the Copala Vein in late 2021, we knew we were on to something special given the well developed, near surface mineral continuity. At the time of the maiden resource, eight drill holes from Copala contributed 6.4Moz AgEq of indicated and 18.6Moz AgEq of inferred1. We have now reported 46 holes from Copala, effectively expanding the mineralized footprint to 600m along strike by 400m down dip with drill intercepts showing mineralization remains open in all directions. We continue to target the Copala area with three rigs and view this portion of the district as a major focus for resource expansion ahead of the Resource Update planned for Q4 of this year.”

1 See details of mineral resource estimate in the “About Panuco Project” section, below.

 

 

The Copala Vein is a shallow dipping structure located at the northern extent and on the hangingwall side of the Tajitos structure. Copala is marked by high precious metals grades (up to 7,900 g/t silver and 35.20 g/t gold over 0.85 mTW) hosted within a broader envelope of vein-breccia up to 82 metres thick with local mineralized pockets up to 20.45 mTW averaging 1,030 g/t AgEq (780 g/t silver and 4.23 g/t gold).

 

Today’s reported intercepts expand a NNW-SSE striking high-grade shoot with approximate dimensions of 400 metres along strike and 200 metres down dip. This high-grade zone remains open to the north and down-dip to the east. Ongoing detailed structural-geologic interpretations suggest mineralization continues to the south, beyond the previously reported Cristiano Vein (see press releases dated January 19, 2022 and March 10, 2022), and is a near-term focus for expansion as Vizsla continues to explore this area. The Company currently has three drill rigs targeting the Tajitos – Copala resource area.

 

The Company is encouraged that the northern sector of the Tajitos – Copala resource area continues to grow, and the intercepts reported here, along with the recent discovery of Copala 2 between Tajitos and Copala (see press release dated May 19, 2022), demonstrates significant potential for additional blind to surface veins in the district. Vizsla is currently negotiating additional land access and has prepared a drill plan to advance the exploration of the Tajitos – Copala area to the north. To further support its 2022 growth initiatives, Vizsla recently completed a district-scale LiDar survey over the main 6,200 ha claim block to aid in geologic-structural mapping, drill-hole planning and geologic modelling.

 

 

Drillhole From To Downhole
Length
Estimated
True width
Ag Au AgEq
(m) (m) (m) (m) (g/t) (g/t) (g/t)
CS-22-136 NO SIGNIFICANT VALUES
CS-22-138 93.30 108.75 15.45 10.82 137 0.99 199
Includes 93.30 94.50 1.20 0.84 356 2.10 482
Includes 94.50 96.00 1.50 1.05 316 2.41 467
Includes 108.00 108.75 0.75 0.53 323 1.73 425
CS-22-140 65.30 67.10 1.80 1.40 209 1.34 291
CS-22-143 210.20 227.90 17.70 16.05 147 0.89 201
Includes 210.20 211.10 0.90 0.75 829 5.92 1197
Includes 221.15 223.55 2.40 2.15 1428 7.12 1840
CS-22-144 NO SIGNIFICANT VALUES
CS-22-145 245.15 252.25 7.10 5.20 203 1.41 290
Includes 245.15 246.90 1.80 1.20 669 4.75 964
CS-22-146 NO SIGNIFICANT VALUES
CS-22-147 285.65 300.00 14.35 12.40 68 0.52 101
Includes 292.75 293.85 1.10 0.95 207 2.54 375
CS-22-148 265.10 267.00 1.90 1.75 94 0.78 144
CS-22-150 304.50 310.45 5.95 4.50 156 0.86 207
Includes 307.05 309.00 1.95 1.60 428 1.90 535
CS-22-151 NO SIGNIFICANT VALUES
CS-22-152 248.90 258.00 9.10 7.30 152 0.74 195
Includes 255.35 258.00 2.65 2.00 286 1.65 385
CS-22-153 148.50 182.50 34.00 30.50 97 0.87 153
Includes 177.30 178.80 1.50 1.35 427 2.55 581
Includes 178.80 180.00 1.20 1.08 361 2.58 521
Includes 180.00 181.50 1.50 1.35 518 2.13 635
CS-22-154 124.45 136.50 12.05 9.35 1010 5.44 1331
Includes 124.45 126.10 1.65 1.30 3548 17.78 4579
Includes 133.00 136.50 3.50 2.85 1442 8.54 1956
CS-22-155 159.00 174.35 15.35 14.50 667 3.89 900
Includes 166.10 167.60 1.50 1.45 2480 12.70 3220
Includes 170.20 174.35 4.15 4.05 1057 5.37 1369
CS-22-157 83.00 106.60 23.60 16.10 139 1.07 206
Includes 103.50 104.75 1.25 0.85 475 4.64 776
Includes 104.75 106.25 1.50 1.02 1135 8.10 1638
CS-22-158 142.50 145.50 3.00 2.30 800 7.77 1303
CS-22-160 189.10 192.90 3.80 3.40 1642 6.67 2007
Includes 189.70 190.75 1.05 0.95 3190 11.40 3787
Includes 191.60 192.15 0.55 0.50 3730 15.40 4577
CS-22-161 128.60 133.90 5.30 4.35 398 3.41 616
Includes 129.55 130.50 0.95 0.65 856 10.10 1523
Includes 133.35 133.90 0.55 0.35 1090 3.77 1285
CS-22-162 190.80 193.65 2.85 2.65 298 2.87 484
CS-22-164 157.50 164.95 7.45 4.40 802 6.89 1242
Includes 162.10 162.90 0.80 0.47 2910 38.70 5491
Includes 162.90 164.15 1.25 0.74 1055 5.88 1404
Includes 164.15 164.95 0.80 0.47 1150 4.37 1384
CS-22-166 NO SIGNIFICANT VALUES
CS-22-167 NO SIGNIFICANT VALUES
CS-22-169 162.95 188.35 25.40 20.45 780 4.23 1030
Includes 179.55 180.30 0.75 0.60 4610 20.20 5741
Includes 180.60 182.10 1.50 1.21 2230 9.08 2727
Includes 185.70 186.45 0.75 0.60 1765 14.00 2649
Includes 186.45 187.50 1.05 0.85 7900 35.20 9880

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 press release dated January 19, 2022. Note: AgEq = Ag g/t x Ag rec. + (Au g/t x Au Rec x Au price/gram)/Ag price/gram. Metal price assumptions are $20.70/oz silver and $1,655/oz gold and metallurgical recoveries assumed are 93% for silver and 90% for gold. Gold and silver metallurgical recoveries used in this release were estimated for the Napoleon vein (see press release dated February 17, 2022).

 

Note: AgEq = Ag g/t x Ag rec. + (Au g/t x Au Rec x Au price/gram)/Ag price/gram. Metal price assumptions are $20.70/oz silver and $1,655/oz gold and metallurgical recoveries assumed are 93% for silver and 90% for gold. Gold and silver metallurgical recoveries used in this release were estimated for the Napoleon vein (see press release dated February 17, 2022).

 

Drillhole Easting Northing Elevation Azimuth Dip Depth
CS-22-136 404,528 2,587,186 558 306x -59.8 207.0
CS-22-138 404,614 2,587,059 550 320 -64.1 258.0
CS-22-140 404,482 2,587,236 554 275 -65.9 255.0
CS-22-143 404,740 2,587,166 555 292 -54.4 298.5
CS-22-144 404,858 2,587,182 601 268 -66.9 346.3
CS-22-145 404,797 2,587,181 583 302 -54.3 481.5
CS-22-146 404,741 2,587,165 555 287 -72.4 342.0
CS-22-147 404,858 2,587,182 601 294 -53.0 373.5
CS-22-148 404,741 2,587,165 555 254 -84.6 370.5
CS-22-150 404,858 2,587,182 601 309 -62.5 460.5
CS-22-151 404,741 2,587,165 555 74 -84.0 423.0
CS-22-152 404,797 2,587,181 583 321 -51.0 380.0
CS-22-153 404,675 2,587,218 533 328 -63.0 250.5
CS-22-154 404,540 2,587,279 553 306 -43.7 277.5
CS-22-155 404,675 2,587,218 534 317 -46.8 405.0
CS-22-157 404,540 2,587,280 552 317 -65.1 339.0
CS-22-158 404,540 2,587,280 552 349 -49.1 310.5
CS-22-160 404,675 2,587,218 533 333 -40.5 403.5
CS-22-161 404,616 2,587,253 544 307 -45.7 264.0
CS-22-162 404,675 2,587,218 533 346 -53.0 456.0
CS-22-164 404,616 2,587,253 544 328 -39.5 381.0
CS-22-166 404,590 2,587,215 566 279 -68.2 216.0
CS-22-167 404,759 2,587,043 589 301 -66.5 549.0
CS-22-169 404,642 2,587,059 558 292 -77.8 390.0

Table 2: Drillhole details for the reported drillholes. 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 61.1 Moz AgEq and an in-situ inferred resource of 45.6 Moz 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

 

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 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, 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

 

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.

 

Information Concerning Estimates of Mineral Resources

 

The scientific and technical information in this news release was prepared in accordance with NI 43-101 which differs significantly from the requirements of the U.S. Securities and Exchange Commission. The terms “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” used herein are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum Standards (the “CIM Definition Standards”), which definitions have been adopted by NI 43-101. Accordingly, information contained herein providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar information made public by other U.S. companies subject to the United States federal securities laws and the rules and regulations thereunder.

 

You are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards, “inferred mineral resources” are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measures.

 

Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards in the SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted new mining disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (the “SEC Modernization Rules”), with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules replace the historical property disclosure requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources”. Information regarding mineral resources contained or referenced herein may not be comparable to similar information made public by companies that report according to U.S. standards. While the SEC Modernization Rules are purported to be “substantially similar” to the CIM Definition Standards, readers are cautioned that there are differences between the SEC Modernization Rules and the CIM Definitions Standards. Accordingly, there is no assurance any mineral resources that the Company may report as “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources” under NI 43-101 would be the same had the Company prepared the resource estimates under the standards adopted under the SEC Modernization Rules.

 


Figure 1: Plan map of recent drilling centered on the Copala vein. (CNW Group/Vizsla Silver Corp.)

 

Figure 2: Plan map of Copala vein with drill-hole pierce points. (CNW Group/Vizsla Silver Corp.)

 

Figure 3: Cross section showing Copala and Copala 2 veins. (CNW Group/Vizsla Silver Corp.)

 

Posted June 21, 2022

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