Vizsla Silver drills 892 g/t AgEq over 6 metres at Panuco, Mexico

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Vizsla Silver Corp. [VZLA-TSXV, NYSE; 0G3-FSE] reported drill results from 19 new holes targeting the Copala structure at its 100%-owned, flagship Panuco silver-gold project in Sinaloa, Mexico. The reported results represent both step-out and infill drilling, effectively expanding the Copala mineralized footprint beyond the 2023 updated resource boundary as well as further demonstrating high-grade precious metal continuity within the Copala resource wireframe.

Highlights: CS-22-225 returned 892 g/t silver equivalent (AgEq) over 6.00 metres true width (mTW) (648 g/t silver and 4.29 g/t gold). including 2,271 g/t AgEq over 1.21 mTW (1,680 g/t silver and 10.50 g/t gold) and 1,000 g/t AgEq over 1.45 mTW (756 g/t silver and 4.40 g/t gold).

CS-22-220 returned 1,920 g/t AgEq over 2.50 mTW (1,673 g/t silver and 5.39 g/t gold), including 7,505 g/t AgEq over 0.44 mTW (6,400 g/t silver and 23.00 g/t gold). CS-22-235 returned 1,039 g/t AgEq over 4.61 mTW (453 g/t silver and 9.16 g/t gold), including 1,611 g/t AgEq over 0.90 mTW (502 g/t silver and 16.95 g/t gold) and 1,439 g/t AgEq over 0.90 mTW (353 g/t silver and 16.45 g/t gold).

CS-22-229 returned 1,338 g/t AgEq over 2.90 mTW (1,010 g/t silver and 5.91 g/t gold), including 1,540 g/t AgEq over 0.74 mTW (1,215 g/t silver and 6.07 g/t gold) and  2,282 g/t AgEq over 0.87 mTW (1,655 g/t silver and 11.00 g/t gold).

“Today’s results continue to de-risk Copala with tightly spaced infill drilling, while incremental step-outs, beyond the recently announced updated mineral resource estimate, highlight the significant expansion/discovery potential remaining in the district,” commented Michael Konnert, President and CEO. “We currently have three of our seven drill rigs targeting the Copala structure, which given its broad widths (avg 10 metres) and high silver and gold grades continues to be a primary focus for potential resource growth in the near-term. Additionally, we’re very excited about the prospectivity of an uplifted block to the east of Copala, which based on new interpretations, could host Copala type mineralization at shallow elevations, close to surface. Moving forward, as part of our fully-funded, 90,000-metre 2023 drill program, we will continue to expand the mineralized footprint at Copala and test the possibility of an uplifted block, in the coming months.”

The Copala Structure is located in the western portion of the Panuco district ~800 metres east of the Napoleon structure. Copala 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. Interpretations by Vizsla geologists indicate Copala has an average dip of ~46degree to the east (~35degree in its northern sector and steepening to ~52degree in the southern sector).

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 infill-drilling program consisted of 25 holes drilled at 25-metre centres designed to assess grade continuity and to provide sample material for future metallurgical tests. Infill-holes CS-22-221, CS-22-222, CS-22-224, CS-22-226, CS-22-229, CS-22-230 and CS-22-235, reported today, have confirmed strong continuity of structures and high-grades at tighter drill spacing. Additionally, step-out holes CS-22-220 and CS-22-225 have expanded the Copala structure’s high-grade footprint to the southeast and east, respectively.

Previously reported drill holes 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. New interpretations suggest between ~300 to 350m of vertical displacement by the fault. This information, in conjunction with ongoing data collection, is 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 drill holes collared on the footwall side of the fault during Q1 2023.

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.

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