Vizsla Silver drills 4,227 g/t AgEq over 2.3 metres at Panuco, Mexico

Vizsla Silver Corp. [VCU-TSXV, NYSE] reported results from seven drill holes targeting the recently discovered La Luisa vein, located approximately 700 metres west of the Napoleon vein, at its 100%-owned, flagship Panuco silver-gold project in Sinaloa State, Mexico. Today’s results expand the high-grade footprint at La Luisa by over approximately 150 metres down dip from previously reported hole NP-22-305.

Highlights: NP-22-332 returned 4,227 g/t silver equivalent (AgEq) over 2.30 metres true width (mTW) (2,699 g/t silver, 24.99 g/t gold, 0.22% lead and 0.65% zinc), including, 18,950 g/t AgEq over 0.47 mTW (11,502 g/t silver, 120.50 g/t gold, 0.82% lead and 2.63% zinc).

NP-23-358 returned 1,076 g/t AgEq over 5.60 mTW (257 g/t silver, 11.13 g/t gold, 0.42% lead and 2.03% zinc), including, 3,698 g/t AgEq over 1.11 mTW (659 g/t silver, 44.22 g/t gold, 0.53% lead and 2.33% zinc) and 1,761 g/t AgEq over 0.27 mTW (221 g/t silver, 22.68 g/t gold, 0.26% lead and 0.50% zinc).

NP-22-345 returned 1,967 g/t AgEq over 2.50 mTW (1,286 g/t silver, 9.76 g/t gold, 0.90% lead and 2.35% zinc), including, 4,630 g/t AgEq over 0.99 mTW (2,982 g/t silver, 24.01 g/t gold, 1.82% lead and 5.03% zinc).

“A key focus for this year’s ongoing, fully funded 90,000-metre drill campaign is to explore high-priority targets proximal to the main resource centres in the western portion of the Panuco District,” commented Michael Konnert, President and CEO. “La Luisa is one of several such prospective targets that does not currently host a mineral resource. Drilling at La Luisa has now outlined a near-surface high-grade footprint approximately 350 metres long by 325 metres down dip and is open in all directions.

“Furthermore, the relatively high gold to silver ratios indicates the current drilling horizon may be at the top of the mineralized system, similar to the near surface gold rich zone at the southern extent of the Napoleon vein. This ultimately supports the potential for La Luisa to deliver improved grades and widths at depth.”

The La Luisa vein is located approximately 700 metres to the west of Napoleon in the southwest portion of the Panuco district. The structure has been mapped on surface for almost 1,000 metres with an average strike of N35^◦W and dip of 70^◦-80◦ to the NE. To date, Vizsla has reported 17 holes from La Luisa outlining a high-grade mineralized footprint approximately 350 metres long by 325 metres down dip and remains open in all directions. The upper portion of the vein is hosted primarily by rhyolite tuffs (the upper horizon of the regional lower volcanic sequence) whereas deeper vein-intercepts occur in the more favourable diorite host rock. Additionally, deeper drilling to date shows the vein changes dip direction from northeast to the southwest with increased depth.

Initial near surface drilling at La Luisa, returned significant gold concentrations with generally low silver and base metals. The relatively high gold to silver and base metals ratios observed, indicate this zone is analogous to the previously reported “Gold Rich-Shallow” horizon at the southern end of Napoleon. At Napoleon, initial interpretation, confirmed by subsequent drilling, used metal zonation and alteration to determine the block was tilted making the southern extent the top of the mineralized system. Deeper drilling at La Luisa, including holes, NP-22-345 and NP-23-358, intercepted vein mineralization marked by higher silver concentrations, suggestive of shoot- or top-shoot elevation.

Going forward, Vizsla plans to mobilize a second drill-rig and continue drilling deeper holes at La Luisa to target the zone’s precious metals rich core, which given the ongoing success of the local exploration model utilized at Napoleon, there exists the potential for increased grades and widths along strike and down plunge to the south. Due to the observed dip-reversal at depth, Vizsla is preparing drill pads on the west side of the vein to be able to intersect the vein system at a more favourable angle.

To date, Vizsla has completed over 250,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2023, Vizsla has budgeted +90,000 metres of resource/discovery-based drilling designed to upgrade and expand the mineral resource, as well as test other high priority targets across the district.