(VZLA-TSX-V)
Drilling Highlights
NP-20-50
- 413 g/t silver equivalent (198.0 g/t silver, 0.96 g/t gold, 1.43 % lead, and 4.53 % zinc) over 1.91 m true width from 132.4 m including;
- 1,009 g/t silver equivalent (477.9 g/t silver, 2.19 g/t gold, 3.67 % lead, and 11.7 % zinc) over 0.69 m true width from 132.4 m including
NP-20-36
- 321 g/t silver equivalent (144.3 g/t silver, 1.21 g/t gold, 0.75 % lead, and 2.41 % zinc) over 2.46 m true width from 184.5 m
Note: All numbers are rounded and widths represent estimated true widths. 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
Vizsla President and CEO,
Papayo Drilling detail
Drilling at Papayo has defined a central zone with mineralization that is better developed in the hangingwall vein (defined by holes NP-20-21, NP-20-28 and NP-20-36). Stepping to south, drilling has intersected another better developed zone of mineralization around hole NP-20-50 that is open for expansion with higher grades in both the hangingwall and footwall veins (Figure 2).
The broader Napoleon structure is hosted in weakly magnetic microdiorite and trends roughly north – south for over 2,700 m of strike. The structure hosts two main quartz veins that are separated by 10 to 20m, and dips steeply to the east. Between the two main veins are a series of smaller splay veins with variable orientations, that are related to opening along the structure under strike slip movement. The two main veins have a variable true width of 0.4 to 15.3 m and are usually hosted next to the main fault structure, though occasionally also occur outside of the fault.
The two main veins are multi-episodal quartz veins, with sections of massive white to grey quartz as well as local brecciation with clasts of grey quartz, white vein quartz and/or wallrock fragments. The grey quartz is discoloured due to the presence of very fine-grained argentite. A later breccia cuts these earlier phases that is grey quartz supporting polymictic clasts of grey and white quartz along with strong chlorite and fine to medium grained pyrite, sphalerite and galena. Other smaller quartz veins have been cut in both the hanging wall and footwall that appear to be splays with less continuity.
About the
Vizsla has an option to acquire 100% of the recently consolidated 9,386.5 Ha Panuco district in southern
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.
Complete table of Papayo drill hole intersections
Drillhole | From | To | Est. True Width | Gold | Silver | Lead | Zinc | Silver | Comment |
(m) | (m) | (m) | (g/t) | (g/t) | (%) | (%) | (g/t) | ||
NP-20-34 | 188.85 | 191.6 | 0.89 | 2.98 | 333.6 | 0.15 | 0.45 | 605.0 | Hanging wall vein |
and | 211.5 | 213 | 0.57 | 0.94 | 239.2 | 0.66 | 1.25 | 356.5 | Main vein |
NP-20-36 | 184.5 | 191 | 2.46 | 1.21 | 144.3 | 0.76 | 2.41 | 321.5 | Hanging wall vein |
NP-20-40 | 256.5 | 258 | 0.48 | 0.54 | 32.6 | 0.05 | 0.14 | 85.4 | Hanging wall vein |
and | 276 | 277.5 | 0.58 | 0.85 | 59.0 | 0.02 | 0.08 | 136.8 | Main vein |
NP-20-41A | 171.3 | 178.5 | 3.63 | 0.45 | 61.7 | 0.44 | 1.20 | 137.9 | Hanging wall vein |
and | 204.9 | 207.6 | 1.59 | 0.21 | 29.5 | 0.12 | 0.43 | 60.5 | Main vein |
NP-20-44 | 96.65 | 99.1 | 0.76 | 0.32 | 36.2 | 0.11 | 0.54 | 79.1 | Hanging wall vein |
and | 127.4 | 139.65 | 0.41 | 0.22 | 40.5 | 0.07 | 0.18 | 64.5 | Main vein |
NP-20-45 | 120.2 | 123.9 | 0.95 | 0.13 | 36.5 | 0.09 | 0.57 | 61.6 | Hanging wall vein |
and | 152.7 | 163.3 | 2.72 | 0.24 | 39.6 | 0.26 | 0.70 | 82.4 | Main vein |
NP-20-48 | No Significant intersection | ||||||||
NP-20-50 | 117.7 | 118.6 | 0.51 | 1.82 | 257.0 | 0.63 | 4.26 | 524.2 | Hanging wall vein |
and | 132.4 | 135.45 | 1.91 | 0.96 | 198.0 | 1.43 | 4.53 | 413.5 | Main vein |
Incl. | 132.4 | 133.5 | 0.63 | 2.19 | 477.8 | 3.66 | 11.7 | 1,008.6 | |
NP-20-52 | Assays Pending | ||||||||
NP-20-57 | Assays Pending | ||||||||
NP-20-60 | Assays Pending | ||||||||
NP-20-63 | Assays Pending |
Table 1: | Downhole drill intersections from the holes completed at the Papayo. All holes are reported and numbers are non-sequential due to drilling at the Napoleon discovery on the same vein. |
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 |
Drill Collar Information
Prospect | Drillhole | Easting | Northing | Elevation | Dip | Azimuth | Hole Depth |
Papayo | NP-20-34 | 403,329 | 2,588,069 | 569 | -63 | 238 | 249 |
NP-20-36 | 403,329 | 2,588,069 | 569 | -62 | 275 | 229 | |
NP-20-40 | 403,325 | 2,588,073 | 569 | -59 | 287 | 292 | |
NP-20-41A | 403,329 | 2,588,069 | 569 | -60 | 222 | 261 | |
NP-20-44 | 403,320 | 2,588,990 | 557 | -62 | 231 | 500 | |
NP-20-45 | 403,329 | 2,588,986 | 548 | -59 | 210 | 201 | |
NP-20-48 | 403,239 | 2,588,986 | 548 | -74 | 210 | 385 | |
NP-20-50 | 403,390 | 2,588,872 | 518 | -45 | 270 | 178 | |
NP-20-52 | 403,391 | 2,588,872 | 518 | -58 | 270 | 291 | |
NP-20-57 | 403,390 | 2,588,869 | 518 | -42 | 242 | 184 | |
NP-20-60 | 403,091 | 2,588,869 | 518 | -49 | 242 | 203 | |
NP-20-63 | 403,345 | 2,588,879 | 519 | -54 | 265 | 100 |
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
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
Neither
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
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
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