Vizsla Silver drills 2,305 g/t AgEq over 1.55 metres in Mexico
Vizsla Silver Corp. [VZLA-TSXV] on Thursday released results from seven new drill holes targeting the southern extension of the Napoleon Vein at its 100%-owned Panuco silver-gold epithermal vein project in Mexico.
The new drill results are centred on the western portion of the district and are part of Vizsla’s ongoing 120,000-metre resource expansion/discovery-focused drill program.
Drilling highlights include hole NP-22-320, which returned 2,305 g/t silver equivalent (AgEq) over 1.55 metres true width (279 g/t silver, 24.01 g/t gold, 1.82% lead, and 7.58% zinc), including 2,631 g/t AgEq over 1.18 metres true width (267 g/t silver, 29.10 g/t gold, 1.29% lead, and 7.18% zinc).
The Napolean Vein was the first major discovery made by Vizsla at Panuco in 2020,’’ said Vizsla President and CEO Michael Konnert. “We have now expanded the mineralized footprint to over two and a half kilometres long and outlined an initial Napolean Area resource of 36 million ounces of AgEq Indicated, and 17 million ounces AgEq inferred,” he said.
On November 30, 2022, Vizsla shares rose 5.0% or $0.07 to $1.46 on volume of 114,140. The shares are currently trading in a 52-week range of $3.25 and $1.19.
Vizsla is a company that was formed to acquire metal projects in Canada and Mexico. Its portfolio includes the 20,265-hectare Blueberry Project, which lies on a copper-porphyry trend southwest of Houston, British Columbia.
The district-scale Panuco project represents the consolidation of mining concessions covering 9,386.5 hectares in a producing camp outside of Concordia, Sinaloa.
Back in September 13, 2019, Vizsla snapped up Canam Alpine Ventures Ltd., a company that held options to acquire a 100% interest in the Panuco mining concessions and related infrastructure and processing facilities. Canam could exercise its options by completing US$3.4 million in work commitments and making payments of US$43 million over a 72-month period.
The option allowed for the acquisition of over 75 kilometres of total vein extent, a 500 ton-per-day mill, 35 kilometres of underground mines, tailings facilities, roads, power and permits.
To date Vizsla has completed over 210,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins. For 2022, Vizsla has budgeted over 120,000 metres of resource/discovery-based drilling, designed to upgrade, and expand the maiden resource as well as test other high priority targets across the district.
Of the nine drill rigs currently turning on the property, expansion/conversion drilling continues at Napoleon with two rigs, including one direction rig.
“With a local exploration model that continues to validated through ongoing drilling, and new high- grade results from the footwall and hanging wall vein splays not included in the initial March 2022 resource, we continue to view the Napolean Area as a primary target for future resource growth and development,’’ the company said in a press release.