Vizsla Silver (TSXV:VZLA) Reports Silver Intercepts of 2,640 G/t AgEq over 5.30 Metres at Panuco Project

Viszla Silver (TSXV:VZLA) has reported new results from 19 new drill holes at the Tajitos – Copala resource area at the Panuco silver-gold project in Mexico. The company’s intercepts are a part of the ongoing 2022 infill-expansionary drill program at the Copala and Cristiano structures in the western section of the district. 

Infill results now support grade continuity in the south-central portion of the Copala structure. Continued resource expansion drilling to the north and southeast highlights that mineralization remains open. 

Michael Konnert, President and CEO commented in a press release: “The Copala structure continues to impress with high precious metals grades over very broad width. Infill drilling within the Tajitos-Copala resource area continues to highlight exceptional mineral continuity marked by multiple intervals grading well over 1,000 grams per tonne, while expansionary drilling to the north and southeast demonstrate a growing high-grade footprint. Additionally, at Cristiano, drilling has now traced mineralization over 600 metres long by 300 metres deep. We note that Cristiano was not included in the maiden resource, however, given its near surface, high-grade continuity, we expect it will contribute materially to the pending resource update. We have had a phenomenal year of exploration success at Panuco and have expanded mineralization well beyond the March 2022 resource boundary at virtually every zone. Given the amount of new high grade drill results, inclusion of new mineralized structures, and the fast-approaching holiday season, we have elected to publish the resource update in early 2023. We are extremely pleased with the outcome of our 2022 programs and look forward to another outstanding year as we continue to grow and de-risk the Panuco Project in 2023.”

Figure 1: Plan map of recent drilling centered on the Copala structure. Source: Vizsla Silver Corp.

Highlights from the results are as follows:

 

Highlights

  • CS-22-205 returned 2,640 grams per tonne (g/t) silver equivalent (AgEq) over 5.30 metres true width (mTW) (2,101 g/t silver and 9.54 g/t gold)
    • Including 4,563 g/t AgEq over 0.58 mTW (3,080 g/t silver and 23.60 g/t gold)
  • CS-22-210 returned 561 g/t AgEq over 15.50 mTW (425 g/t silver and 2.31 g/t gold)
    • And 2,044 g/t AgEq over 1.01 mTW (1,630 g/t silver and 7.34 g/t gold)
  • CS-22-216 returned 905 g/t AgEq over 8.09 mTW (626 g/t silver and 4.48 g/t gold)
  • CS-22-201 returned 3,340 g/t AgEq over 1.86 mTW (2,536 g/t silver and 13.65 g/t gold)
  • CS-22-217 returned 1,862 g/t AgEq over 2.71 mTW (1,495 g/t silver and 6.56 g/t gold)

The Copala Structure is located in the western portion of the Panuco district at the northern extent of the Tajitos structure. Copala hosts high precious metals grades (up to 11,053 g/t silver and 33.50 g/t gold over 1.26 mTW) contained within a broader envelope of vein-breccia interlayered with host rock, up to 82 metres thick. Ongoing interpretations by Vizsla’s geologists suggest Copala has an average dip of ~46° to the east (~35° in its northern sector and steepening to ~52° in the southern sector).

Drilling at Copala has now traced mineralization along approximately 1,000 metres of strike length and approximately 400 metres down dip. High-grade silver-gold mineralization remains open to the north and southeast with ongoing detailed structural and geologic interpretations indicating the potential for mineralization to continue into the footwall side of the Tajitos Vein. The ongoing infill-drilling program, which consists of 25 holes drilled at 25 metre centers, was designed to assess grade continuity and to provide sample material for future metallurgical tests. To date, infill-holes CS-22-201, CS-22-205, CS-22-214, CS-22-216 and CS-22-218 have confirmed high-grade at tighter spacing. Additionally, step-out holes drilled to the east, particularly holes CS-22-202, CS-22-207 and CS-22-219, suggest an uplifted block of basement metasediments in fault-contact with andesites and diorite (see figures 2 and 4). Vizsla´s team is working on interpretations to determine the amount of displacement by the fault, to define a target elevation for Copala type mineralization on the footwall side (east) of the fault; i.e. an uplifted block on the east creates potential for Copala type mineralization at shallower elevation. Vizsla plans to test this hypothesis with drill-holes collared on the footwall side of the fault.

The Cristiano Vein is a precious metals rich structure located at the southwestern margin of the Copala structure. Cristiano is marked by a quartz-carbonate epithermal-vein striking N25°W that dips sub-vertical (85°) to the NE. Drill-holes intersecting Cristiano to date, highlight a high-grade zone plunging to the NW, with vertical extent of 300 metres and approximate strike length of 600 metres. The Cristiano Vein ranges in thickness from 0.7 mTW to 3.5 mTW, with a weighted average grade of 542 g/t silver equivalent.

The Cristiano Vein was initially discovered while targeting the Tajitos-Copala veins, where drilling intercepted the well-mineralized, NW-SE trending fault. Ongoing drilling has now led to new observations and interpretations allowing Vizsla geologists to plan drill holes specifically designed to explore Cristiano along strike and to depth. To the northwest, Cristiano intersects and offsets the Tajitos Vein, suggesting Cristiano post-dates Tajitos mineralization, thus creating a drill target on the footwall of Tajitos (Figure 3). Additionally, open ended intercepts to the southeast suggest mineralization continues in this direction.

Source: Vizsla Silver

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. Source: Vizsla Silver Corp.
Figure 3: Inclined longitudinal section for Cristiano vein with drillhole pierce points. Source: Vizsla Silver Corp.
Figure 4: Cross section showing Copala, Cristiano and Tajitos veins. Source: Vizsla Silver Corp.

 

Drillhole From To Downhole Length Estimated True width Ag Au AgEq Vein    
   
(m) (m) (m) (m) (g/t) (g/t) (g/t)    
CS-22-201 212.25 214.80 2.55 2.18 237 1.74 346 Copala    
Includes 212.25 213.55 1.30 1.11 427 3.22 629      
CS-22-201 392.15 396.00 3.85 1.86 2,536 13.65 3,340 Cristiano    
Includes 392.90 393.30 0.40 0.19 7,740 57.60 11,343      
Includes 393.70 394.60 0.90 0.43 6,220 27.20 7,742      
CS-22-202 No significant values Copala    
CS-22-203 No significant values Copala    
CS-22-204 132.00 158.70 26.70 20.46 175 0.99 234 Copala    
Includes 147.25 148.50 1.25 0.96 569 2.92 739      
Includes 153.30 154.30 1.00 0.77 454 2.43 597      
Includes 156.50 157.50 1.00 0.77 673 3.42 872      
Includes 157.50 158.70 1.20 0.92 575 4.08 828      
CS-22-205 283.00 288.50 5.50 5.30 2,101 9.54 2,640 Copala    
Includes 284.60 285.20 0.60 0.58 3,080 23.60 4,563      
CS-22-205 553.00 553.30 0.30 0.16 85 0.24 96 Cristiano    
CS-22-206 181.10 185.80 4.70 3.11 168 0.90 221 Copala    
CS-22-207 No significant values Copala    
CS-22-208 No significant values Copala    
CS-22-208 484.00 485.50 1.50 1.12 347 0.38 350 FW Splay    
Includes 485.05 485.50 0.45 0.34 873 0.99 883      
CS-22-209 148.00 166.05 18.05 10.00 74 0.56 109 Copala    
Includes 163.45 164.20 0.75 0.42 639 5.22 970      
CS-22-210 117.75 140.70 22.95 15.50 425 2.31 561 Copala    
Includes 120.30 120.90 0.60 0.41 2,710 22.30 4,125      
Includes 130.60 131.40 0.80 0.54 1,285 7.24 1,716      
Includes 131.40 132.00 0.60 0.41 1,800 9.69 2,371      
Includes 132.55 134.05 1.50 1.01 1,630 7.34 2,044      
CS-22-211 No significant values Copala    
CS-22-211 240.00 241.85 1.85 0.55 154 2.24 304 Cristiano    
CS-22-211 283.25 284.50 1.25 1.25 1,103 3.76 1,296 Tajitos    
CS-22-212 No significant values Copala    
CS-22-213 545.10 548.60 3.50 3.20 294 1.19 358 Copala    
Includes 546.50 547.95 1.45 1.33 308 2.08 436      
CS-22-214 114.00 121.05 7.05 3.90 593 4.07 845 Copala    
Includes 115.50 116.80 1.30 0.72 2,020 13.50 2,850      
Includes 116.80 117.50 0.70 0.39 681 4.22 937      
CS-22-215 112.50 115.50 3.00 2.35 216 0.66 248 Copala    
Includes 114.00 115.50 1.50 1.18 335 1.03 385      
CS-22-216 181.00 194.50 13.50 8.09 626 4.48 905 Copala    
Includes 184.65 186.00 1.35 0.81 1,250 14.00 2,170      
Includes 186.00 186.95 0.95 0.57 2,230 18.10 3,376      
Includes 186.95 188.20 1.25 0.75 1,170 7.54 1,631      
CS-22-217 No significant values Copala    
CS-22-217 325.50 330.35 4.85 2.71 1,495 6.56 1,862 Cristiano    
Includes 327.60 328.75 1.15 0.64 1,295 4.59 1,535      
Includes 328.75 329.10 0.35 0.20 13,118 63.70 16,783      
CS-22-218 209.60 215.30 5.70 4.88 197 1.86 317 Copala    
Includes 211.50 213.00 1.50 1.28 283 3.19 493      
Includes 213.00 214.15 1.15 0.98 280 2.58 446      
CS-22-219 No intercepted      

Table 1: Downhole drill intersections from the holes reported for the new splay vein at the foot wall of Copala.  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 are from metallurgical test results of the Napoleon vein (see press release dated February 17, 2022).

Drillhole Easting Northing Elevation Azimuth Dip Depth
CS-22-201 404,724 2,586,986 595 257 -57.7 462.0
CS-22-202 405,087 2,586,905 646 282 -63.6 634.5
CS-22-203 404,896 2,586,778 666 302 -75.0 556.5
CS-22-204 404,539 2,587,280 553 304 -30.8 250.2
CS-22-205 404,840 2,587,003 590 260 -50.0 596.5
CS-22-206 404,541 2,587,280 552 347 -35.0 237.0
CS-22-207 405,087 2,586,905 646 286 -68.2 628.0
CS-22-208 404,896 2,586,778 666 299 -67.9 505.5
CS-22-209 404,541 2,587,280 553 5 -43.3 257.0
CS-22-210 404,482 2,587,238 553 323 -30.0 451.0
CS-22-211 404,643 2,587,058 557 277 -39.5 349.5
CS-22-212 405,087 2,586,905 646 263 -64.9 658.5
CS-22-213 405,084 2,586,574 700 295 -58.8 637.5
CS-22-214 404,632 2,586,883 568 91 -89.1 208.5
CS-22-215 404,482 2,587,237 553 298 -30.0 300.0
CS-22-216 404,681 2,586,877 582 271 -87.0 234.0
CS-22-217 404,643 2,587,058 557 260 -54.0 452.0
CS-22-218 404,701 2,586,892 595 271 -84.6 270.0
CS-22-219 405,087 2,586,905 565 262 -71.4 681.0

Table 2: Drillhole details for the reported drillholes. Coordinates in WGS84, Zone 13.

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

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