(VZLA-TSX-V)
VANCOUVER, BC, Feb. 1, 2021 /CNW/ - Vizsla Resources
Corp. (TSXV: VZLA) (OTCQB: VIZSF) (Frankfurt: 0G3) ("Vizsla" or the
"Company") is pleased to provide results from eight new
holes at the Napoleon prospect at the Panuco silver-gold project ("Panuco" or the "Project") in
Mexico. These results demonstrate high precious metals grades
down to 320m below surface, a
180-metre step down from previously reported results.
Drilling Highlights
NP-20-54
- 1,909 g/t silver equivalent (86.5 grams per tonne
("g/t") silver, 18.45 g/t gold, 1.27% lead and 3.36% zinc) over
2.42 metres ("m") true width from 317.25
m including;
-
- 10,019 g/t silver equivalent (307.0 g/t silver, 101.0
g/t gold, 2.88% lead and 10.5% zinc) over 0.43 m true width from 317.25 m
NP-20-49
- 237 g/t silver equivalent (63.0 g/t silver, 1.54 g/t
gold, 0.23% lead and 1.24% zinc) over 6.0
m true width from 163.3m
including;
-
- 842 g/t silver equivalent (215.9 g/t silver, 5.80 g/t
gold, 0.30% lead and 3.95% zinc) over 1.45
m true width from 168.75
m
Note: All numbers are
rounded and widths represent downhole lengths. Silver
equivalent is calculated using the following formula:
Silver-equivalent = ((Au_g/t x 52.48) + (Ag_g/t x 0.5289) + (Pb_ppm
x 0.0013) + (Zn_ppm x 0.0013)) / 0.5627. Metal price
assumptions are $17.50 g/t silver, $1,700 g/t gold, $0.75 pound
lead and $0.85 pound zinc, recoveries assumptions are 96% gold, 94%
silver, 78% lead and 70% zinc based on similar deposit types. The
Company is disclosing results on a silver equivalent basis due to
the overall silver dominant nature of mineralization at the Panuco
project.
|
Vizsla President and CEO, Michael
Konnert, commented: "Intersecting over ten kilograms per
tonne silver equivalent in such a large step-out significantly
expands the size potential of the Napoleon shoot.
Mineralization remains open and recent drilling is confirming
robust vein widths down plunge. These very high grades of
precious metals occur with massive sulphide within the veins at
Napoleon, Papayo and Tajitos and
the Company is trialling ground EM in mid-February to search for
similar zones along the entire lengths of the Napoleon and
Cinco Senores vein
corridors."
Figure 1: Longitudinal section from Napoleon
prospect with all holes labelled and selected intersections
shown. All figures including a plan map can be found at the
Company's website here
www.vizslaresources.com.
Napoleon Drilling Detail
These recent results at Napoleon expands the mineralization by
170 metres vertically. A wide vein continued beneath
previously reported holes, however, a post mineral fault is
interpreted to have impacted the vein in deeper holes (NP-20-47,
NP-20-51, and NP-20-53). Hole NP-20-54 tested beneath this
interpreted structure and returned a robust vein with very-high
grades of mineralization. At depth it appears the Napoleon
shoot is dipping back towards the west.
Mineralization remains open to the south, north and at depth and
drilling continues to define a strong plunge steeply to the
north. Holes NP-21-65, NP-21-69 and NP-21-68 confirm a
competent vein continues down plunge and assays remain outstanding
for these recently completed holes.
Figure 2: Plan map showing location of drilling
with detailed inset of Napoleon prospect.
Mineralization and Geophysics
Intervals of massive sulphide associated with high grades of
precious and base metals have been drilled at Napoleon, Papayo and
Tajitos. This mineralization is interpreted to represent a
very fertile pulse in the formation of these veins. The
Company is commencing a trial ground electromagnetic (EM) survey in
these three areas because if the bodies of massive sulphide are
continuous, they may represent strong geophysical targets. If
the program is successful, the Company has a tool for the Napoleon
and Cinco Senores zones to
specifically target high-grade targets along the broader vein
corridors.
The Company will also commence a detailed drone magnetic survey
in February to improve mapping and vein interpretations.
Magnetic susceptibility measurements and historic data indicates
veins form linear demagnetised corridors through the host rocks
which the survey will map with high resolution.
Complete table of Napoleon drill hole intersections
Drillhole
|
From
|
To
|
Est.
True
Width
|
Gold
|
Silver
|
Lead
|
Zinc
|
Silver
Equivalent
|
Comment
|
(m)
|
(m)
|
(m)
|
(g/t)
|
(g/t)
|
(%)
|
(%)
|
(g/t)
|
NP-20-43
|
178
|
187.7
|
4.76
|
0.68
|
51.8
|
0.29
|
0.99
|
141.8
|
|
Incl.
|
179.3
|
184.8
|
2.70
|
0.86
|
55.2
|
0.29
|
1.14
|
164.7
|
|
NP-20-46
|
86.95
|
87.5
|
0.30
|
5.08
|
49.6
|
0.15
|
1.49
|
558.4
|
In
Hangingwall
|
And
|
213.4
|
218
|
2.55
|
0.78
|
67.6
|
0.62
|
1.59
|
187.2
|
|
Incl.
|
213.4
|
214.8
|
0.78
|
1.13
|
88.0
|
1.08
|
2.61
|
273.1
|
|
NP-20-47
|
91.15
|
92.5
|
0.56
|
0.37
|
43.1
|
0.06
|
0.20
|
80.9
|
In
Hangingwall
|
And
|
273.7
|
276.35
|
1.01
|
0.15
|
17.1
|
0.19
|
1.25
|
63.2
|
|
NP-20-49
|
97.7
|
98.55
|
0.37
|
1.34
|
86.9
|
0.24
|
2.35
|
266.5
|
In
Hangingwall
|
And
|
163.3
|
177.15
|
6.00
|
1.54
|
63.0
|
0.23
|
1.24
|
237.3
|
|
Incl.
|
168.75
|
172.1
|
1.45
|
5.80
|
215.9
|
0.30
|
3.95
|
841.9
|
|
NP-20-51
|
82.4
|
83.5
|
0.49
|
6.88
|
2,278.4
|
0.21
|
0.51
|
2,799.5
|
In
Hangingwall
|
And
|
198.35
|
206.25
|
3.5
|
0.26
|
32.7
|
0.21
|
0.62
|
74.4
|
|
NP-20-53
|
No significant
values
|
|
NP-20-54
|
317.25
|
323.5
|
2.42
|
18.45
|
86.5
|
1.27
|
3.36
|
1,909.2
|
|
Incl.
|
317.25
|
318.35
|
0.43
|
101.00
|
307.0
|
2.88
|
10.55
|
10,018.6
|
|
NP-20-55
|
87.7
|
94.05
|
2.03
|
0.11
|
16.5
|
0.08
|
0.26
|
34.0
|
|
Table
1:
|
Downhole drill
intersections from the holes completed at the Napoleon
Discovery.
|
Note: All numbers are
rounded and widths represent downhole lengths. Silver
equivalent is calculated using the following formula:
Silver-equivalent = ((Au_g/t x 52.48) + (Ag_g/t x 0.5289) + (Pb_ppm
x 0.0013) + (Zn_ppm x 0.0013)) / 0.5627. Metal price
assumptions are $17.50 g/t silver, $1,700 g/t gold, $0.75 pound
lead and $0.85 pound zinc, recoveries assumptions are 96% gold, 94%
silver, 78% lead and 70% zinc based on similar deposit types. The
Company is disclosing results on a silver equivalent basis due to
the overall silver dominant nature of mineralization at the Panuco
project.
|
About the Panuco
project
Vizsla has an option to acquire 100% of the recently
consolidated 9,386.5 Ha Panuco district in southern Sinaloa, Mexico, near the city of
Mazatlán. The option allows for the acquisition of over 75 km
of total vein extent, a 500 tpd mill, 35 kms of underground mines,
tailings facilities, 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.
Drill Collar Information
Prospect
|
Drillhole
|
Easting
|
Northing
|
Elevation
|
Dip
|
Azimuth
|
Hole
Depth
|
Napoleon
|
NP-20-43
|
403,454
|
2,587,381
|
475
|
-51
|
254
|
225
|
|
NP-20-46
|
403,454
|
2,587,381
|
475
|
-57
|
254
|
251
|
|
NP-20-47
|
403,455
|
2,587,381
|
475
|
-62
|
254
|
300
|
|
NP-20-49
|
403,454
|
2,587,381
|
475
|
-48
|
266
|
240
|
|
NP-20-51
|
403,455
|
2,587,381
|
475
|
-54
|
266
|
263
|
|
NP-20-53
|
403,455
|
2,587,381
|
475
|
-59
|
266
|
294
|
|
NP-20-54
|
403,455
|
2,587,381
|
475
|
-64
|
266
|
359
|
|
NP-20-55
|
403,364
|
2,587,463
|
513
|
-64
|
300
|
159
|
Table
2:
|
Drill hole
details. Coordinates in WGS84, Zone 13.
|
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
The Company's disclosure of technical or scientific information
in this press release has been reviewed and approved by
Stewart Harris, P.Geo., an
independent consultant for the Company. Mr. Harris is a Qualified
Person as defined under the terms of National Instrument
43-101.
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 development of
Panuco, including drilling
activities; future mineral exploration, development and production;
and completion of a maiden drilling program.
Forward–looking statements and forward–looking information
relating to any future mineral production, liquidity, enhanced
value and capital markets profile of Vizsla, future growth
potential for Vizsla 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's
ability to operate in a safe and effective manner and its ability
to obtain financing on reasonable terms.
These statements reflect Vizsla'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 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's
management discussion and analysis. Readers are cautioned against
attributing undue certainty to forward–looking statements or
forward-looking information. Although Vizsla 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 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 Resources Corp.