Vizsla Silver Corp. [TSXV-VXLA] reported new drill results from 22 expansion and infill holes targeting the Copala resource area at its 100%-owned, flagship Panuco silver-gold project in Mexico. The reported results have successfully expanded Copala mineralization by approximately 100 metres to the southeast and identified new vein splays situated in between Copala and the high-grade Cristiano structure.
Highlights: CS-23-304 returned 1,722 g/t silver equivalent (AgEq) over 2.80 metres true width (mTW) (1,366 g/t silver and 6.80 g/t gold), including 6,618 g/t AgEq over 0.55 mTW (5,320 g/t silver and 25.20 g/t gold).
CS-23-300 returned 724 g/t AgEq over 3.10 mTW (519 g/t silver and 3.57 g/t gold), including 1,749 g/t AgEq over one mTW (1,255 g/t silver and 8.61 g/t gold).
“Resource expansion drilling at Copala, both to the north and southeast, continue to highlight a robust precious metals structure well beyond the January 2023 resource boundary,” commented Michael Konnert, President & CEO. “New step out drilling has extended the total mineralized strike length of Copala by approximately 100 metres to the south and it remains open in both directions. Additionally, drilling has confirmed the continuity of the high-grade Copala 2 vein located between Tajitos and Copala main which now measures a total of 600 metres in mineralized strike. Moving forward, we intend to continue infilling and expanding these high-grade zones with two drill rigs, in preparation for the updated resource estimate planned for January 2024.”
The precious metals dominant Copala Structure, located in the western portion of the Panuco district, is situated ~800 m to the east of the Napoleon vein. 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. Interpretations by Vizsla geologists indicate Copala has an average dip of ~46 degrees to the east (~35 degrees in its northern sector and steepening to ~52 degrees in the southern sector).
Ongoing drilling at Copala has now traced mineralization along ~1,770 metres of strike length and ~400 metres down dip. The recently completed batch of resource expansion drilling consisted of 21 holes drilled at ~50-metre and ~100-metre centres in the southern extent of Copala and one hole in the north, targeting both the main Copala structure and the Copala 2 vein to the footwall.
At Copala, hole CS-23-300 in the north, intercepted a broad mineralized structure (~30 mTW) consisting of two high grade zones enveloping a low grade stockwork zone carrying anomalous silver and gold grades throughout. Results from seven step-out holes in the south show that the Copala structure gets steeper at depth (~70 degrees) and develops vein splays carrying significant silver and gold grades. The recently interpreted Copala 4 and FW Splay vein sit between Cristiano and Copala, approximately 100 metres and 50 metres west of Copala, respectively.
To date, drilling has traced Copala 4 approximately 300 m along strike and 400 metres down dip whereas the FW Splay has been traced for ~350 metres along strike and 250 metres down dip. The vein splays strike at 15 degrees to 35 degrees due northwest and dip at 60degree to 70 degrees to the east. These new splays, like Cristiano, are relatively narrow compared to the main Copala structure, and host precious metals rich epithermal mineralization. The drilling completed in the southern extent of Copala was designed to explore and/or infill the Copala structure. Due to geometry those holes could not efficiently test the projection of the Cristiano vein, which remains an open target. Vizsla is preparing an exploration program for next year that will consider additional exploration on the southern extent of Cristiano and the newly identified splays.
To date, Vizsla has completed ~89,800 metres of its fully funded 90,000-metre 2023 drill program.
The newly consolidated Panuco silver-gold project is an emerging high-grade discovery located in southern Sinaloa, Mexico, near the city of Mazatlan. The 7,189.5-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 310,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins.