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Vizsla Resources Corp
Symbol VZLA
Shares Issued 91,106,621
Close 2021-01-11 C$ 1.64
Recent Sedar Documents

Vizsla drills 7.55 m of 1,607 g/t AgEq at Panuco

2021-01-12 05:55 ET - News Release

Mr. Michael Konnert reports

VIZSLA EXPANDS STRIKE OF TAJITOS VEIN ZONE, INTERSECTS 1,607 G/T SILVER EQUIV. OVER 7.55 METRES TO PANUCO, MEXICO

Vizsla Resources Corp. has provided results from two new holes at the Tajitos vein zone at the Panuco silver-gold project in Mexico. Vizsla completed 14 holes at Tajitos in 2020 and has received results from six holes; the company resumed drilling at Tajitos in 2021.

Drilling highlights

CS-20-06:

  • 910 grams per tonne silver equivalent (536 grams per tonne silver and 4.35 g/t gold) over 13.5 metres from 96.0 m including:
    • 1,607 g/t silver equivalent (946.8 g/t silver and 7.68 g/t gold) over 7.55 m from 96.0 m including:
      • 3,157 g/t silver equivalent (1,870.0 g/t silver and 15.00 g/t gold) over 1.5 m from 99.0 m.

Note

All numbers are rounded and widths represent downhole lengths. True widths are estimated at approximately 60 per cent of downhole lengths. Silver equivalent is calculated using the following formula: Silver equivalent equals ((Au g/t times 52.48) plus (Ag g/t times 0.5289) divided by 0.5627).

Vizsla president and chief executive officer Michael Konnert commented: "The first results for 2021 are very encouraging. Tajitos continues to deliver high silver and gold grades and wide widths in areas of historic mining. The company is expanding the known zones and stepping along strike for new bodies of mineralization in a systematic stepout drilling program that continues into 2021. The company has commenced drilling for the year with five rigs in operation that continue to expand earlier discoveries and demonstrate the overall potential of the Panuco district."

Tajitos drilling detail

The Tajitos vein zone is located along the Cinco Senores vein corridor where drilling in 2020 by Vizsla has returned high-grade mineralization. The company is exploring to define the extent of the current zone of mineralization and is also seeking additional bodies of mineralization at vein intersections and dilation zones along the vein trend. The company has commenced a systematic step to the southwest while results are outstanding from the currently completed holes and then will return to drill test the initial discovery area. The initial holes at Tajitos were completed by a track-mounted rig utilizing road access; however, later holes have provided greater flexibility in drill pad locations with the addition of another man-portable rig to the program in late 2020.

Hole CS-20-06 has expanded the mineralized zone by 50 metres to the southwest as the intersection is at the same elevation as the previously reported high-grade CS-20-01 hole. It also intersected mine workings. The mine workings that were crossed by CS-20-06 are all within the reported ore zone. The intervals of the voids were given zero values for silver and gold in the results.

                COMPLETE TABLE OF TAJITOS DRILL HOLE INTERSECTIONS

Drill hole       From          To      Width       Silver      Gold       Silver equivalent
                  (m)         (m)        (m)        (g/t)     (g/t)                   (g/t)

CS-20-01*       75.90       80.40       4.50      1,200.6      7.29                 1,808.0
incl.           78.65       79.80       1.15      2,209.6     16.13                 3,581.3
CS-20-02*      110.00      111.15       1.15        812.5      4.59                 1,191.6
CS-20-03*      116.70      120.00       3.30        116.1      0.63                   167.9
incl.           116.7       117.9       1.20        191.0      1.30                   300.8
CS-20-04                                                              no significant result
CS-20-05        101.9       110.9        9.0         23.6      0.18                    38.8
incl.           104.9       109.9        5.0         34.5      0.24                    54.6
incl.          106.35       107.8       1.45         90.7      0.58                   139.6
CS-20-06         96.0       109.5       13.5        536.0      4.35                   909.7
incl.            96.0      103.55       7.55        946.8      7.68                 1,606.5
incl.            99.0       100.5       1.50      1,870.0     15.00                 3,156.6
CS-20-07                                                                     assays pending
CS-20-08                                                                     assays pending
CS-20-09                                                                     assays pending
CS-20-10                                                                     assays pending
CS-20-11                                                                     assays pending
CS-20-12                                                                     assays pending
CS-20-13                                                                     assays pending
CS-20-14                                                                     assays pending

Note 
Mining voids in CS-20-06 were assigned zero grade. All numbers are rounded and widths 
represent downhole lengths. True widths are estimated at between 40 and 60 per cent of 
downhole lengths. Silver equivalent is calculated using the following formula: 
Silver equivalent equals ((Au g/t times 52.48) plus (Ag g/t times 0.5289) divided by 
0.5627). 

Hole CS-20-05, also being reported, is located approximately 60 m to the northeast of hole CS-20-01. The vein in this hole returned lower assay results at grades of 55 g/t silver equivalent; however, within that interval is a 1.45 m sample at 140 g/t silver equivalent. Assay results for holes CS-20-07 to CS-20-14 are pending.

The Tajitos vein zone is composed of a quartz breccia vein with an early white locally banded quartz supporting diorite lithic clasts, followed by a later white to greyish quartz supporting brecciated clasts of earlier white quartz veins. This zone was then cut by a later white to clear quartz vein with local dark bands or patches of fine-grained sulphides that is cutting a zone of quartz psuedomorphs after bladed calcite and pink rhodochrosite. The better grades are in the earlier breccias associated with dark bands or dark patches of very fine-grained disseminated sulphides. This vein zone is hosted in a sequence of variably magnetic diorite and andesite.

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, 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.

Quality assurance/quality control

Drill core and rock samples were shipped to ALS Ltd. in 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 (International Organization for Standardization) 9001 and ISO/IEC (International Organization for Standardization/International Electrotechnical Commission) 17025 certified. Silver and base metals were analyzed using a four-acid digestion with an ICP (inductively coupled plasma) finish, and gold was assayed by 30-gram fire assay with atomic absorption (AA) spectroscopy finish. Overlimit analyses for silver, lead and zinc were reassayed using an ore-grade four-acid digestion with AA (atomic absorption) 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, PGeo, an independent consultant for the company. Mr. Harris is a qualified person as defined under the terms of National Instrument 43-101.

Stock options granted

The company has granted 60,000 stock options to a consultant of Vizsla under the company's stock option plan. The stock options were granted at an exercise price of $1.71 and will vest over one year. They are exercisable for a period of five years from the date of the grant and are subject to the policies of the TSX Venture Exchange.

We seek Safe Harbor.

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