Vizsla Silver drills 1,548 g/t AgEq over 15 metres at Panuco, Mexico

Vizsla Silver Corp. [VZLA-TSXV, NYSE] reported drill results from 14 in-fill holes targeting the Copala resource area at its 100%-owned, flagship Panuco silver-gold project, Sinaloa Sate, Mexico. The reported results correspond to in-fill drilling in the southeast-central portion of the Copala structure, demonstrating high-grade precious metals continuity within the Copala resource wireframe.

Highlights include drill hole CS-22-246 that returned 1,548 g/t silver equivalent (AgEq) over 15 metres true width (mTW) (1,142 g/t silver and 7.20 g/t gold), including 3,872 g/t AgEq over 3.07 mTW (2,878 g/t silver and 17.72 g/t gold); and 3,356 g/t AgEq over 2.31 mTW (2,331 g/t silver and 17.6 g/t gold).

CS-22-248 returned 787 g/t AgEq over 20.6 mTW (643 g/t silver and 2.8 g/t gold), including 1,099 g/t AgEq over 1.02 mTW (912 g/t silver and 3.71 g/t gold); 3,195 g/t AgEq over 0.26 mTW (2,670 g/t silver and 10.55 g/t gold); and 2,573 g/t AgEq over 4.84 mTW (2,099 g/t silver and 9.2 g/t gold).

CS-22-251 returned 731 g/t AgEq over 18 mTW (602 g/t silver and 2.53 g/t gold), including 1,032 g/t AgEq over 0.55 mTW (897 g/t silver and 2.93 g/t gold); 4,161 g/t AgEq over 2.27 mTW (3,421 g/t silver and 14.51 g/t gold); and 1,099 g/t AgEq over 0.52 mTW (931 g/t silver and 3.45 g/t gold).

CS-22-241 returned 1,287 g/t AgEq over 4.3 mTW (758 g/t silver and 8.62 g/t gold), including 1,616 g/t AgEq over 1.05 mTW (798 g/t silver and 12.93 g/t gold); and 3,653 g/t AgEq over 0.86 mTW (2,347 g/t silver and 21.77 g/t gold).

CS-23-253 returned 2,522 g/t AgEq over 2.1 mTW (1,920 g/t silver and 10.91 g/t gold), including 3,814 g/t AgEq over 1.1 mTW (2,900 g/t silver and 16.55 g/t gold).

“Ongoing drilling at Copala continues to demonstrate exceptional continuity of high-grade mineralization,” commented Michael Konnert, President and CEO. “The recently completed in-fill-drilling program serves to incrementally de-risk the local resource through tighter spaced drilling and provides representative sample material for metallurgical testing. Furthermore, recently announced step-out drilling beyond the resource wireframe, continues to highlight Copala’s near-term growth potential. We currently have three drill rigs targeting the Copala/Cristiano area, where near-surface, high-grade mineralization remains open laterally and at depth.”

The Copala Structure, located in the western portion of the Panuco district, is situated ~800m to the east of the Napoleon structure. Copala currently hosts Indicated Resources of 51.1 Moz AgEq at 516 g/t AgEq and Inferred Resources of 55.4 Moz AgEq at 617 g/t AgEq within a broad envelope of vein-breccia interlayered with host rock, up to 82 metres thick.

Drilling at Copala has now traced mineralization along approximately 1,100 metres of strike length and approximately 400 metres down dip. High-grade silver-gold mineralization remains open laterally to the north and southeast, as well as down dip to the east. The recently completed in-fill-drilling program consisted of 25 holes drilled at 25 metre centers designed to assess grade continuity and to provide sample material for metallurgical tests. In-fill-holes CS-22-241, CS-22-246, CS-22-248 and CS-22-251 reported today, have confirmed strong continuity of structures and high-grades at tighter drill-hole spacing.

Previously reported drillholes CS-22-202, CS-22-207 and CS-22-219, indicate an uplifted block of basement metasediments in fault-contact with andesites and diorite on the east side of Copala (see figures 2 and 3). New interpretations suggest between ~300 to 350 metres of vertical displacement by the fault. This information, in conjunction with ongoing data collection, are being used to define a target elevation for Copala type mineralization on the footwall side (east) of the fault. An uplifted block to the east of the current Copala resource has the potential to host Copala type mineralization at a shallower elevation, closer to surface. Vizsla plans to test this hypothesis with drillholes collared on the footwall side of the fault during Q1 2023.

The newly consolidated Panuco silver-gold project is an emerging high-grade discovery located in southern Sinaloa near the city of Mazatlan. The 6,761-hectare, past producing district benefits from over 86 km of total vein extent, 35 km of underground mines, roads, power, and permits.

The Panuco Project hosts an estimated in-situ indicated mineral resource of 104.8 Moz AgEq and an in-situ inferred resource of 114.1 Moz AgEq.

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.