Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) is pleased to report new drill results from 22 expansion and infill holes targeting the Copala resource area at its 100%-owned, flagship Panuco silver-gold project located in Mexico. The reported results have successfully expanded Copala mineralization by ~100m to the southeast and identified new vein splays situated in-between Copala and the high-grade Cristiano structure.

Highlights

• CS-23-304 returned 1,722 grams per tonne silver equivalent over 2.80 metres true width (1,366 g/t silver and 6.80 g/t gold)
  • Including 6,618 g/t AgEq over 0.55 mTW (5,320 g/t silver and 25.20 g/t gold)
• CS-23-300 returned 724 g/t AgEq over 3.10 mTW (519 g/t silver and 3.57 g/t gold)
  • Including 1,749 g/t AgEq over 1.00 mTW (1,255 g/t silver and 8.61 g/t gold)

“Resource expansion drilling at Copala, both to the north and southeast, continue to highlight a robust precious metals structure well beyond the January 2023 resource boundary,” commented Michael Konnert, President & CEO. “New step out drilling has extended the total mineralized strike length of Copala by approximately 100 metres to the south and it remains open in both directions. Additionally, drilling has confirmed the continuity of the high-grade Copala 2 vein located between Tajitos and Copala main which now measures a total of 600 metres in mineralized strike. Moving forward, we intend to continue infilling and expanding these high-grade zones with two drill rigs, in preparation for the updated resource estimate planned for January 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 51.1 Moz AgEq at 516 g/t AgEq and Inferred Resources of 55.4 Moz AgEq at 617 g/t AgEq within a broad envelope of vein-breccia interlayered with host rock, up to 82 metres thick. Interpretations by Vizsla geologists indicate Copala has an average dip of ~46° to the east (~35° in its northern sector and steepening to ~52° in the southern sector).

Ongoing drilling at Copala has now traced mineralization along ~1,770 metres of strike length and ~400 metres down dip. The recently completed batch of resource expansion drilling consisted of 21 holes drilled at ~50 m and ~100 m centres in the southern extent of Copala and one hole in the north, targeting both the main Copala structure and the Copala 2 vein to the footwall. At Copala, hole CS-23-300 in the north, intercepted a broad mineralized structure (~30 mTW) consisting of two high grade zones enveloping a low grade stockwork zone carrying anomalous silver and gold grades throughout (see cross section on figure 5). Results from seven step-out holes in the south show that the Copala structure gets steeper at depth (~70°) and develops vein splays carrying significant silver and gold grades. The recently interpreted Copala 4 and FW Splay vein sit between Cristiano and Copala, approximately 100 m and 50 m west of Copala, respectively. To date, drilling has traced Copala 4 approximately 300 m along strike and 400 m down dip whereas the FW Splay has been traced for ~350 m along strike and 250 m down dip. The vein splays strike at 15° to 35° due northwest and dip at 60° to 70° to the east. These new splays, like Cristiano, are relatively narrow compared to the main Copala structure, and host precious metals rich epithermal mineralization. The drilling completed in the southern extent of Copala was designed to explore and/or infill the Copala structure. Due to geometry those holes could not efficiently test the projection of the Cristiano vein, which remains an open target. Vizsla is preparing an exploration program for next year that will consider additional exploration on the southern extent of Cristiano and the newly identified splays.

The Copala 2 vein sits at the footwall of the main Copala structure and is bounded to the west by the Tajitos vein and to the east by the Copala Fault. The Vein strikes northeast, dips to the southeast at approximately 48° and has been traced for ~330 metres along strike and ~290 metres down dip. Refer to the Company’s news releases dated July 13, 2023, and May 19, 2022, for previous drillhole results from Copala 2.

To date, Vizsla has completed ~89,800 m of its fully funded 90,000 m 2023 drill program.

Table 1: Downhole drill intersections from the holes reported for Copala structure Copala 2, FW Splay and Copala 4 veins.

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 7,189.5-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.

The Panuco Project hosts an estimated in-situ indicated mineral resource of 104.8 Moz AgEq and an in-situ inferred resource of 114.1 Moz AgEq. An updated NI 43-101 technical report titled “Technical Report on the Mineral Resource Estimate Update for the Panuco Ag-Au-Pb-Zn Project, Sinaloa State, Mexico” was filed on SEDAR on March 10, 2023, with an effective date of January 19, 2023 was prepared by Allan Armitage, Ph.D., P.Geo., Ben Eggers, MAIG, P.Geo. and Yann Camus, P.Eng. of SGS Geological Services.

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 310,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2023, Vizsla has budgeted +90,000 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 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.

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.

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 the footwall vein (FW Splay) in the south. (CNW Group/Vizsla Silver Corp.)

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

Figure 4: Inclined longitudinal section for Copala 2 structure with drillhole pierce points. The section is 1x along strike to 1.18x along the dip to compensate for the average 48-degree dip of Copala 2. (CNW Group/Vizsla Silver Corp.)

Figure 5: Cross section showing Copala, Copala 2 and Tajitos veins with completed drilling. (CNW Group/Vizsla Silver Corp.)