Vizsla Silver Corp T.VZLA

Vizsla Update...

[zack50]

VIZSLA EXPANDS TAJITOS BY 40% TO 800 METRES, HITTING 3,374 G/T AGEQ OVER 1.5 MTW AT PANUCO  

Vancouver, British Columbia (October 14, 2021) – Vizsla Silver Corp. (TSX-V: VZLA) (OTCQB: VIZSF) (Frankfurt: 0G3) ("Vizsla" or the "Company") is pleased to provide results from 23 new drill holes targeting the Tajitos Vein resource area ("Tajitos") at its 100%-owned, flagship Panuco silver-gold project ("Panuco" or the "Project") located in Mexico.

Highlights

• CS-21-66: 115 metre step to the southwest:
  • 3,374 grams per tonne (g/t) silver equivalent (AgEq) (2,607 g/t silver and 9.90 g/t gold) over 1.5 metres true width (mTW) from 348.3 m and;
  • 793.9 g/t AgEq (599.7 g/t silver and 2.47 g/t gold) over 1.3 down hole width from 175.45m
• CS-21-77: 165 metre step to the northeast:
  • 354 g/t AgEq (216 g/t silver and 1.62 g/t gold) over 4.95 mTW from 348.3 m and;
  • 1,582 g/t AgEq (1,115 g/t silver and 5.73 g/t gold) over 0.7 down hole width from 159.7 m
• CS-21-37:  1,643 g/t AgEq (960 g/t silver and 7.94 g/t gold) over 1.34 mTW from 207.3 m
• CS-21-50:  807 g/t AgEq (615 g/t silver and 2.46 g/t gold) over 1.99 mTW from 251.4 m

Note: All numbers are rounded.  Silver equivalent is calculated using the following formula: Silver-equivalent = ((Au_g/t x 52.48) + (Ag_g/t x 0.5289)) / 0.5627.  Metal price assumptions are $17.50 ounce silver and $1,700 ounce gold, recoveries assumptions are 96% gold and 94% silver, based on similar deposit types.
 
Vizsla President and CEO Michael Konnert commented: “Tajitos continues to exceed our high expectations with large step out holes now expanding the target resource area to over 800 metres in total strike length. Mineralization remains open in both directions along strike and at depth, where elevated precious to base metal ratios continues to highlight significant potential for further expansion.  The Company currently has three rigs focused on Tajitos and will continue to take bold step-outs ahead of declaring the Project’s maiden resource in Q1, 2022.”

Figure 1: Longitudinal section from Tajitos vein, looking to the northwest. All new holes are labelled and selected intersections are shown.

Figure 2: Plan map of the Tajitos resource drilling area along the Cinco Senores Vein Corridor. 
 

Tajitos Drilling detail

Resource drilling targeting the Tajitos Vein, located along the Cinco Senores Vein Corridor (Figures 1 & 2), approximately 500m east of the Napoleon Vein, has significantly expanded the Zone’s mineralized footprint, now measuring 800 metres along strike and to a depth of 300 metres below surface. Drilling will now progress using a grid pattern on 100-metre centers (previously 50-metre centers) due to increased confidence in local controls to mineralization and the potential to rapidly add tonnage ahead of the data cut-off for inclusion in the maiden project resource.

Step-out drilling to the southwest intersected 3,374 g/t silver equivalent over a true width of 1.4 metres in one of the deepest holes completed to date at Tajitos (CS-21-66). This intercept is located approximately 150 metres from the nearest drill hole (115 metres along strike) and remains open in all directions. Infill drilling between this intercept and the main panel of mineralization has been completed and assays remain pending.

To the northeast, step-out hole CS-21-77 was similarly successful, intersecting the vein with increased width; 4.9 metres true width grading 354 g/t silver equivalent.  This intercept is open in all directions and the company interprets it to be part of another potential zone of dilation observed along the Tajitos Vein. Step outs to depth and further to the northeast continue to define a broad mineralized structure (assays remain pending for these holes).

Following the receipt of several outstanding assays surrounding the step-out holes detailed above, Vizsla intends to provide an updated average width and weighted average grade for the Tajitos Vein.

CS-21-77 has also identified an additional parallel vein in the hanging wall of Tajitos, marked by elevated precious metals grades (0.7 metres downhole width grading 1,582 g/t silver equivalent.  This vein appears to be restricted to the northeast zone and has been intersected by all step-out holes to the northeast of, and vertically below hole CS-21-77.

Infill drilling centered on the core area of Tajitos has significantly improved the overall understanding of the Zone’s controls to mineralization.  The high-grade body of mineralization first intercepted in hole CS-21-01 is observed to pinch to the southwest of holes CS-20-06 and CS-20-11, particularly as the host lithology changes from Andesite to Diorite. Here, average vein thickness and grade are observed to decrease before the vein widens and grade lifts again away from the contact.

Additionally, a notable change in dip direction observed in the southwest, with an axis from hole CS-21-48 to CS-21-47, may be responsible for local grade variability, with relatively higher grades intercepted above and below this change. Holes CS-21-23 and CS-21-50 are good examples of the mineralization returning to higher grades beneath and to the southwest of this change in orientation.

There are currently 10 drill rigs turning at Panuco: four centered on Napoleon resource drilling, three on Tajitos resource drilling, two focused on expanding the Josephine prospect and one testing EM geophysics targets.

Complete table of Tajitos drill hole intersections

Table 1: Downhole drill intersections from the holes completed at the Tajitos Vein on the Cinco Senores Vein Corridor.

Note: All numbers are rounded.  Silver equivalent is calculated using the following formula: Silver-equivalent = ((Au_g/t x 52.48) + (Ag_g/t x 0.5289)) / 0.5627.  Metal price assumptions are $17.50 ounce silver and $1,700 ounce gold, recoveries assumptions are 96% gold and 94% silver, based on similar deposit types.
 
Drill Collar Information

Table 2: Drill hole 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 Mazatln. The 6,754.1-hectare, past producing district benefits from over 75 kilometres of total vein extent, a 500 ton per day mill, 35 kilometres 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.

Note: Two new claims have been acquired adding 149.9 hectares of new area. 4,103.5 hectares previously reported as part of the Panuco project have been removed from the total hectares due to 4 claims being located at a significant distance from the project. These hectares remain as 100% owned by Vizsla Silver.
 
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 Martin Dupuis, P.Geo., Vice President of Technical Services for Vizsla Silver. Mr. Dupuis is a Qualified Person as defined under the terms of National Instrument 43-101.