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VIZSLA SILVER HITS VISIBLE GOLD IN HIGHEST GRADE INTERCEPT EVER AT PANUCO: 9,920 G/T SILVER & 663 G/T GOLD OVER 0.64 METRES TRUE WIDTH AT COPALA

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VIZSLA SILVER HITS VISIBLE GOLD IN HIGHEST GRADE INTERCEPT EVER AT PANUCO: 9,920 G/T SILVER & 663 G/T GOLD OVER 0.64 METRES TRUE WIDTH AT COPALA

 

 

 

 

 

Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) is pleased to report results from five new drill holes targeting the Copala resource area at its 100%-owned, flagship Panuco silver-gold project  located in Mexico. The reported drilling, designed to infill near-surface Indicated Mineral Resources, continues to confirm high-grade continuity throughout Copala and reveals how rich the mineralizing hydrothermal system involved in initial vein formation was.

 

Highlights

  • CS-24-356 returned 8,817 grams per tonne silver equivalent over 4.20 metres true width (1,694 g/t silver and 103.20 g/t gold)
    • Including 55,769 g/t AgEq over 0.64 mTW (9,920 g/t silver and 663.00 g/t gold)
  • CS-24-362 returned 1,103 g/t AgEq over 10.50 mTW (804 g/t silver and 5.27 g/t gold)
    • Including 4,881 g/t AgEq over 1.47 mTW (3,437 g/t silver and 24.87 g/t gold)
    • And, 1,379 g/t AgEq over 0.91 m TW (1,145 g/t silver and 4.78 g/t gold)

 

“Today’s results represent some of the highest-grade gold intercepts drilled to date at the Panuco Project,” commented Michael Konnert, President & CEO. “Our ongoing infill program, targeting the near-surface ultra high-grade zone at Copala continues to deliver exceptional silver and gold grades over very broad widths. In addition to confirmation of continuity, hole CS-24-356 also expanded high-grade mineralization closer to surface. Moving forward we will continue our conversion drilling at Copala as we de-risk the project ahead of the maiden PEA, slated for early Q3 2024.”

 

The precious metals dominant Copala Structure, located in the western portion of the Panuco district, is situated ~800 m to the east of the Napoleon Vein. Copala currently hosts Indicated Resources of 83.3 Moz AgEq at 573 g/t AgEq and Inferred Resources of 48.3 Moz AgEq at 476 g/t AgEq within a broad envelope of vein-breccia interlayered with host rock, up to 82 metres thick (please refer to our Technical Report on Updated Mineral Resource Estimate for the Panuco Ag-Au-Pb-Zn Project, Sinaloa State, Mexico, by Allan Armitage, Ben Eggers and Peter Mehrfert, dated February 12, 2024 and to Vizsla’s press release dated January 8, 2024). Interpretations by Vizsla geologists indicate Copala has an average dip of ~46° to the east (~35° in its northern sector and steepening to ~65° in the southern sector).

 

Exploration and Resource drilling at Copala has traced mineralization along ~1,770 metres of strike length and ~400 metres down dip. The infill holes reported herein are part of an ongoing ~10,000 program (~35 holes), planned to convert near surface Indicated Mineral Resources in the central portion of main Copala into the Measured Resource category. The five infill holes reported were drilled at approximately 25 metre centers from pre-existing holes and continue to successfully confirm grade continuity. Furthermore, some of the remarkable silver and gold grades drilled at Copala reveal how rich the hydrothermal system involved in the process of vein formation was. This supports Vizsla´s ongoing exploration strategy, which has been tailored to locate additional Copala like structures. Vizsla plans to complete its ongoing ~10,000 infill program by mid to late July. Based on the results received, Vizsla Silver is analysing additional drilling metres to continue upgrading and expanding mineral resources in high priority areas at Copala.

 

 

Drillhole From To Downhole
Length
Estimated
True width
Ag Au AgEq Vein
(m) (m) (m) (m) (g/t) (g/t) (g/t)
CS-24-356 219.00 223.90 4.90 4.20 1,694 103.20 8,817 Copala
Includes 219.85 220.60 0.75 0.64 9,920 663.00 55,769
CS-24-357 320.80 324.05 3.25 3.10 682 3.33 855 Copala 3
CS-24-357 347.00 347.45 14.45 10.90 762 2.80 891 Copala
Includes 345.50 347.45 1.95 1.47 3,805 13.58 4,419
CS-24-358 94.25 94.85 0.60 0.55 298 1.62 385 Copala
CS-24-360 No significant values
CS-24-362 344.60 346.10 16.10 10.50 804 5.27 1,103 Copala
Includes 337.50 339.75 2.25 1.47 3,437 24.87 4,881
Includes 340.90 342.30 1.40 0.91 1,145 4.78 1,379
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 $24.00/oz silver and $1,800/oz gold and metallurgical recoveries assumed are 91% for silver and 94% for gold. Gold and silver metallurgical recoveries used in this release are from metallurgical test results of the Copala vein (see press release dated August 16, 2023).

Table 1: Downhole drill intersections from the holes reported for Copala and Copala 3 veins.

 

Drillhole Easting Northing Elevation Azimuth Dip Depth
CS-24-356 404,778 2,586,758 631 270.8 -50.8 241.5
CS-24-357 404,843 2,586,892 653 240.6 -56.9 351.0
CS-24-358 404,663 2,586,817 562 258.2 -62.5 106.5
CS-24-360 404,843 2,586,892 653 255.0 -66.5 373.5
CS-24-362 404,844 2,586,892 653 266.0 -62.2 358.5

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 17,856.5-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.

 

On January 8, 2024, the Company announced an updated mineral resource estimate for Panuco which includes an estimated in-situ indicated mineral resource of 155.8 Moz AgEq and an in-situ inferred resource of 169.6 Moz AgEq (please refer to our Technical Report on Updated Mineral Resource Estimate for the Panuco Ag-Au-Pb-Zn Project, Sinaloa State, Mexico, by Allan Armitage, Ben Eggers and Peter Mehrfert, dated February 12, 2024 and to our Company´s press release dated January 8, 2024).

 

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 Silver has completed over 368,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2024, Vizsla Silver has budgeted +30,000 metres of resource/discovery-based drilling designed to upgrade and expand the mineral resource, as well as test other high priority targets across the district.

 

Quality Assurance / Quality Control

 

Drill core 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 and rock samples were shipped to SGS Lab in Durango Mexico for sample preparation and analysis.  The ALS Zacatecas, North Vancouver facilities and SGS lab 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, Jesus Velador, Ph.D. MMSA QP., Vice President of Exploration, 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 centered on the Copala structure. (CNW Group/Vizsla Silver Corp.)

 

 

 


Figure 2: Inclined longitudinal section for Copala structure with drillhole pierce points. The section is 1x along strike to 1.4x along the dip to compensate for the average 46-degree dip of Copala. The black dash outlines represent Copala 2 in the north and Copala 4 vein in the south. (CNW Group/Vizsla Silver Corp.)

 

 

 


Figure 3: Cross section showing Copala structure, Cristiano, Copala 3, Copala 4 and FW Splay veins with completed drilling. (CNW Group/Vizsla Silver Corp.)

 

Posted June 26, 2024

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