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Vizsla Resources Corp
Symbol VZLA
Shares Issued 48,072,968
Close 2020-02-03 C$ 0.75
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Vizsla samples 1.2 m of 1,264 g/t AgEq at Panuco

2020-02-03 16:27 ET - News Release

Mr. Michael Konnert reports


Vizsla Resources Corp. has released further surface sampling results from exploration in the Panuco silver-gold district in Mexico. Recent surface sampling of the new Honduras vein has returned high grades above minor historical workings over a 250-metre strike length. The vein trends northerly beneath younger cover rocks concealing its true length. The results make this an attractive target for the current 14,500-metre drilling program in progress.

Sampling highlights:

  • 664 grams per tonne silver equivalent (508.0 g/t silver and 1.95 g/t gold) over 2.0 metres at Honduras 5 vein, including:
    • 1,051 g/t silver equivalent (801.0 g/t silver and 3.12 g/t gold) over 1.0 metre;
  • 436 g/t silver equivalent (287.7 g/t silver and 1.86 g/t gold) over 6.4 metres at Honduras 3 vein, including:
    • 886 g/t silver equivalent (580.5 g/t silver and 3.82 g/t gold) over 2.6 metres, including:
      • 1,264 g/t silver equivalent (784.0 g/t silver and 6.00 g/t gold) over 1.2 metres.

Note: All numbers are rounded. Silver equivalent (AgEq) is calculated by multiplying the gold grade by 80 and adding it to the silver grade. This calculation estimates 100-per-cent recovery of both metals. Widths are estimated to represent true widths. Equivalents are calculated using gold and silver grades, and do not contain base metals.

"Vizsla continues to deliver new high-grade veins across the district. We are conducting first-pass drilling on multiple veins at Panuco to establish priorities for possible resource definition drilling. While that program proceeds, we are mapping and sampling the many veins in the district. That mapping continues to reveal areas of high-grade mineralization previously not known to us. The Honduras vein is one such locality," president and chief executive officer Michael Konnert commented.

Charles Funk, vice-president, exploration, stated: "Mining on the Honduras vein appears to have been limited to a 30- to 60-vertical-metre depth due to groundwater conditions. It is another vein that has never been drilled. We plan to add Honduras to the list of veins being tested in the drilling program that recommenced in January."

                                       SAMPLE RESULTS
                                                   Width       Silver        Gold          Silver
Vein          Prospect          Location                                               equivalent
                                                      (m)        (g/t)       (g/t)           (g/t)

Honduras      Honduras 1        Surface             3.00        272.1        0.49           310.9
                                Incl.               1.50        454.0        0.65           505.6
              Honduras 2        Surface             2.60        137.7        0.43           172.1
              Honduras 3        Surface             6.40        287.7        1.86           436.3
                                Incl.               2.60        580.5        3.82           886.2
                                Incl.               1.20        784.0        6.00         1,264.0
              Honduras 4        Surface             2.80        324.4        1.46           440.8
              Honduras 5        Surface             2.00        508.0        1.95           664.1
                                Incl.               1.00        801.0        3.12         1,050.6
              Honduras 6        Surface             0.80        238.0        1.02           319.6
              Honduras 7        Surface             3.30         91.7        0.45           128.0
              Honduras 8        Surface              1.6         75.9        0.85           144.1

Channel sample results from the Honduras vein at Panuco. Silver equivalent (AgEq) is
calculated by multiplying the gold grade by 80 and adding it to the silver grade. 
This calculation estimates 100-per-cent recovery of both metals. Widths are estimated 
to represent true widths.

Drill campaign update

Drilling is under way along the Animals-Refugio corridor. The company has completed a total of three drill holes and is expecting assays back in March, 2020.

About the Panuco project

Vizsla has an option to acquire 100 per cent of the newly consolidated 9,386.5-hectare Panuco district in southern Sinaloa, Mexico, near the city of Mazatlan. The option allows for the acquisition of over 75 kilometres of total vein extent, a 500-tonne-per-day mill, and 35 km of underground mines, tailings facilities, roads, power and permits. The district contains intermediate- to low-sulphidation 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.

Qualified person

Michelle Robinson, MASc, PEng, is the company's designated qualified person within the meaning of National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and has reviewed and approved its scientific and technical content on behalf of Vizsla.

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