VANCOUVER, BC, June 2, 2022 /CNW/ - Vizsla Silver Corp. (TSXV: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) ("Vizsla" or the "Company") is pleased to report results from 18 new drillholes targeting the southern extension of the Napoleon Vein at its 100%-owned flagship Panuco silver-gold project ("Panuco" or the "Project"), located in Mexico. The results are a part of Vizsla's ongoing, fully-funded 120,000-meter resource/discovery-based drill program.
Figure 1: Plan map of recent drilling along the southern extent of the Napoleon Vein (CNW Group/Vizsla Silver Corp.)
Figure 2: Longitudinal section of the main Napoleon Vein. The section is inclined along the dip of the structure (CNW Group/Vizsla Silver Corp.)
Figure 3: Napoleon Vein Exploration Model Longitudinal Section with pierce points (CNW Group/Vizsla Silver Corp.)
Figure 4: Napoleon cross section with significant intercepts below inferred resources at Ojo de Agua (CNW Group/Vizsla Silver Corp.)
NP-22-258 returned 2,098 grams per tonne (g/t) silver equivalent (AgEq) over 4.30 metres true width (mTW) (1,139 g/t silver, 11.48 g/t gold, 0.32 % lead and 0.85 % zinc) including:
7,213 g/t AgEq 1.11 mTW (3,850 g/t silver, 40.6 g/t gold, 0.77 % lead and 2.51 % zinc)
NP-22-271 returned 677 g/t AgEq over 7.00 mTW (223 g/t silver, 2.76 g/t gold, 1.54 % lead and 5.01 % zinc) including:
2,871 g/t AgEq 0.46 mTW (18.5 g/t gold, 789 g/t silver, 5.68 % lead and 11.7 % zinc); and,
673 g/t AgEq over 6.24 mTW (393 g/t silver, 2.92 g/t gold, 0.40 % lead and 0.94 % zinc) including:
3,274 g/t AgEq over 0.87 mTW (1,970 g/t silver, 14.65 g/t gold, 1.37 % lead and 2.48 % zinc)
NP-22-277 returned 389 g/t AgEq over 7.00 mTW (151 g/t silver, 2.63 g/t gold, 0.24 % lead and 0.55 % zinc) and 583 g/t AgEq over 3.90 mTW (237 g/t silver, 2.35 g/t gold, 1.75 % lead and 2.89 % zinc)
NP-22-281 returned 5,700 g/t AgEq over 1.40 mTW (3,585 g/t silver, 25.84 g/t gold, 0.32 % lead and 1.07 % zinc)
"The Napoleon southern extension continues to be the primary target for near-term resource growth within the Napoleon Vein Corridor," commented Michael Konnert, President and CEO. "Our local model of a gently plunging epithermal system has led to the discovery of a new high-grade mineralized shoot marked by increasing grades and widths along strike and down plunge to the south. Furthermore, today's reported high-grade intercepts demonstrate that Napoleon is more than a single structure, it is interpreted to be a vein system with multiple splays hosting great potential for additional resource growth. Drilling continues with three rigs, including one direction rig, focussed on resource expansion and conversion along the Napoleon Vein Corridor."
Details of the Napoleon southern extent
Infill and step-out (expansionary) drilling completed in 2021 led to an improved understanding of the controls on mineralization along the Napoleon Vein Corridor. Observations based on metal zonation and alteration continue to suggest the corridor has been tilted with the southern extent being at the top of the mineralized horizon near surface (Figure 3). Previously reported high-grade gold values closer to surface support the model (see press release dated December 16, 2021), while results reported here, with high silver grades and continued high gold grades continues to validate the model. Over the first quarter of 2022, Vizsla utilized up to four drill-rigs to target this area with the objective of testing this hypothesis and expanding the resources along strike and down plunge to the south.
Today's results outline a new high-grade, precious metals rich zone with significant widths below the Napoleon resource reported on March 1, 2022. To date, this high-grade footprint has been traced over ~800 metres along strike, ~300 metres down dip and remains open at depth. Moving forward, Vizsla plans to continue expanding and infilling this high-grade zone ahead of the planned resource update in Q4 of this year.
Drillhole
From
To
Downhole Length
Estimated True width
Ag
Au
Pb
Zn
AgEq
Vein
(m)
(m)
(m)
(m)
(g/t)
(g/t)
%
%
(g/t)
NP-22-243
524.20
525.20
1.00
0.61
174
0.17
2.26
6.29
489
NAPOLEON
NP-22-252
396.75
398.80
2.05
1.44
173
1.10
0.33
0.69
296
NAPOLEON
Includes
396.75
397.80
1.05
0.74
310
1.29
0.32
0.86
454
NP-22-254
375.25
376.45
1.20
0.87
227
0.51
0.36
1.40
268
NAPOLEON
NP-22-256
653.45
658.75
5.30
4.19
210
0.91
0.16
1.65
349
NAPOLEON
Includes
653.45
654.45
1.00
0.79
454
0.39
0.32
2.34
486
Includes
654.45
655.60
1.15
0.91
542
0.60
0.37
3.84
590
NP-22-258
493.15
498.55
5.40
4.30
1139
11.48
0.32
0.85
2098
NAPOLEON
NP-22-264
306.95
309.00
2.05
1.62
118
0.68
0.89
9.01
537
HW SPLAY
Includes
307.80
309.00
1.20
0.95
130
0.74
1.35
15.10
796
NP-22-264
319.70
322.20
2.50
2.00
504
2.12
1.15
1.54
764
NAPOLEON
Includes
321.15
322.20
1.05
4.76
901
4.30
0.37
1.39
1308
NP-22-265
381.40
382.90
1.50
1.13
102
0.19
0.15
0.49
140
NAPOLEON
Includes
382.60
382.90
0.30
0.22
456
0.74
0.57
2.01
607
NP-22-268
366.65
374.85
8.20
5.00
182
2.60
0.81
2.32
500
HW SPLAY
Includes
366.65
368.15
1.50
0.91
637
9.04
2.07
4.85
1360
Includes
368.15
369.00
0.85
0.52
355
4.90
2.30
6.48
747
NP-22-268
463.25
465.50
2.25
1.90
176
3.03
0.12
0.34
435
NAPOLEON
Includes
464.05
465.50
1.45
1.22
180
3.95
0.13
0.27
510
NP-22-269
458.65
462.90
4.25
2.76
39
0.40
0.14
5.03
264
NAPOLEON
Includes
459.45
460.85
1.40
0.91
41
0.41
0.14
7.11
345
Includes
461.70
462.35
0.65
0.42
75
1.40
0.30
6.35
434
NP-22-270
406.25
406.90
0.65
0.35
116
0.49
0.35
0.89
198
NAPOLEON
NP-22-271
456.05
465.25
9.20
7.00
223
2.76
1.54
5.01
677
HW SPLAY
Includes
457.00
457.60
0.60
0.46
789
18.50
5.68
11.70
2871
Includes
460.65
461.45
0.80
0.61
343
5.11
1.71
2.90
909
Includes
461.45
462.65
1.20
0.91
403
5.04
1.00
4.01
985
Includes
463.60
464.90
1.30
0.99
191
1.12
2.90
10.90
774
NP-22-271
508.05
516.25
8.20
6.24
393
2.92
0.40
0.94
673
NAPOLEON
Includes
510.75
511.90
1.15
0.87
1970
14.65
1.37
2.48
3274
Includes
512.40
513.60
1.20
0.91
461
2.63
0.59
1.15
731
NP-22-272
490.25
495.00
4.75
3.00
70
0.20
0.13
7.32
366
NAPOLEON
Includes
490.60
491.60
1.00
0.63
74
0.15
0.18
13.70
607
Includes
492.30
493.60
1.30
0.82
154
0.52
0.16
11.65
639
NP-22-275
370.25
376.60
6.35
4.51
191
0.79
0.12
0.47
276
HW SPLAY
Includes
370.25
370.80
0.55
0.39
980
1.40
0.49
2.42
1197
Includes
375.30
376.60
1.30
0.92
314
1.47
0.10
0.30
445
NP-22-275
610.05
613.60
3.55
2.55
189
2.88
0.36
1.96
503
NAPOLEON
Includes
610.05
610.85
0.80
0.57
128
1.19
0.94
7.05
515
Includes
613.00
613.60
0.60
0.43
936
15.35
0.86
2.06
2265
NP-22-276
NO SIGNIFICANT RESULTS
NP-22-277
375.60
384.00
8.40
7.00
151
2.63
0.24
0.55
389
HW SPLAY
Includes
376.50
377.10
0.60
0.50
315
2.32
0.33
0.38
524
Includes
378.30
379.20
0.90
0.75
630
4.94
0.43
0.47
1055
Includes
380.20
381.15
0.95
0.79
189
2.70
0.84
1.76
495
NP-22-277
422.60
427.30
4.70
3.90
237
2.35
1.75
2.89
583
NAPOLEON
Includes
422.60
423.85
1.25
1.04
491
1.69
0.41
0.91
672
Includes
423.85
425.35
1.50
1.25
177
2.66
2.57
4.69
640
NP-22-281
477.50
480.00
2.50
1.40
3585
25.84
0.32
1.07
5700
HW SPLAY
Includes
477.50
478.60
1.10
0.62
8050
58.20
0.71
2.38
12813
NP-22-281
505.70
515.35
9.65
5.40
202
1.55
0.74
1.07
387
NAPOLEON
Includes
505.70
506.30
0.60
0.34
1275
6.25
3.50
4.04
2027
Includes
510.00
511.50
1.50
0.84
398
3.75
1.89
2.75
855
Includes
514.30
515.35
1.05
0.59
386
3.09
1.79
2.51
779
NP-22-283
486.15
496.20
10.05
6.13
162
0.42
0.34
1.01
244
HW SPLAY
Includes
495.00
496.20
1.20
0.73
941
0.15
0.03
0.56
975
NP-22-283
519.30
524.10
4.80
2.93
176
1.38
1.29
2.91
432
NAPOLEON
Includes
519.30
520.50
1.20
0.73
198
1.43
2.57
5.63
597
Includes
521.85
523.05
1.20
0.73
231
2.11
1.37
2.85
546
NP-22-284
305.80
306.75
0.95
0.52
1000
3.74
7.01
1.50
1556
NAPOLEON
NP-22-284
401.60
407.10
5.50
3.03
107
0.39
0.30
0.98
184
FW SPLAY
Includes
403.10
403.65
0.55
0.30
655
2.15
2.05
6.76
1140
Includes
405.30
405.60
0.30
0.17
364
1.50
0.52
2.22
582
NP-22-289
ASSAYS PENDING
NP-22-291
ASSAYS PENDING
Table 1:Downhole drill intersections from the holes completed along the Napoleon vein. Note: AgEq = Ag ppm + (((Au ppm x Au price/gram) + (Pb% x Pb price/t) + (Zn% x Zn price/t))/Ag price/gram). Metal price assumptions are $20.70/oz silver, $1,655/oz gold, $1,902/t lead, $2,505/t zinc. AgEq grades are in situe and do not consider metallurgical recoveries.
Drillhole
Easting
Northing
Elevation
Azimuth
Dip
Depth
NP-22-243
403,635
2,586,956
478
243
-62.7
627.0
NP-22-252
403,824
2,586,126
425
272
-56.7
538.8
NP-22-254
403,652
2,586,543
426
270
-66.0
504.0
NP-22-256
403,839
2,586,649
458
273
-54.4
748.5
NP-22-258
403,807
2,586,322
447
271
-56.8
547.9
NP-22-264
403,694
2,586,597
436
267
-52.5
429.0
NP-22-265
403,823
2,586,127
425
272
-53.8
576.0
NP-22-268
403,807
2,586,323
447
271
-52.8
552.0
NP-22-269
403,694
2,586,597
436
270
-62.9
504.0
NP-22-270
403,824
2,586,126
425
272
-60.0
631.5
NP-22-271
403,807
2,586,323
447
271
-59.5
585.0
NP-22-272
403,695
2,586,597
436
270
-65.5
603.0
NP-22-275
403,953
2,586,143
458
267
-56.0
726.0
NP-22-276
403,896
2,586,225
441
270
-55.2
604.5
NP-22-277
403,807
2,586,323
447
271
-48.9
516.0
NP-22-281
403,898
2,586,225
439
269
-57.3
690.0
NP-22-283
403,804
2,586,323
446
270
-62.4
621.0
NP-22-284
403,770
2,586,090
407
269
-55.3
448.5
NP-22-289
403,849
2,586,427
481
269
-47.7
592.5
NP-22-291
403,770
2,586,090
407
269
-59.0
481.5
Table 2:Napoleon 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 6,754-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.
Stock Option Issuance
The Company has granted 590,000 stock options ("Options") at an exercise price of $1.74 to an officer and an employee. The Options are exercisable for a period of five years and will vest over the next two years. The Options are subject to the approval and policies of the TSX Venture Exchange and the NYSE American.
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, 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 "SEC"). The terms "measured mineral resource", "indicated mineral resource" and "inferred mineral resource" used in this video 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 in this video 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 in this video 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward‐Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward‐looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward‐looking statements or information. These forward‐looking statements or information relate to, among other things: the exploration, development, and production at Panuco, including plans for resource/discovery-based drilling, designed to upgrade, and expand the maiden resource as well as test other high priority targets across the district.
Forward‐looking statements and forward‐looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Vizsla Silver, future growth potential for Vizsla Silver and its business, and future exploration plans are based on management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold, and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Vizsla Silver's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Vizsla Silver's respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward‐looking statements or forward-looking information and Vizsla Silver has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company's mining activities in Mexico; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in Vizsla Silver's management discussion and analysis. Readers are cautioned against attributing undue certainty to forward‐looking statements or forward-looking information. Although Vizsla Silver has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Vizsla Silver does not intend, and does not assume any obligation, to update these forward‐looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law.
SOURCE Vizsla Silver Corp.
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