Vizsla Drills 2,889 G/T Silver and 107.9 G/T Gold over 3.7 Metres within 1,808 G/T Silver and 66.8 G/T Gold over 6.0 Metres at Panuco, Mexico

ID: 1559323
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(businesspress24) -
Vancouver, British Columbia (July 8th, 2020) - Vizsla Resources Corp. (TSX-V: VZLA) (Vizsla or the Company - https://www.commodity-tv.com/ondemand/companies/profil/vizsla-resources-corp/) is pleased to announce additional drilling results from the Napoleon Vein Corridor at the Panuco silver-gold project in Mexico. A total of eleven holes have been completed to date at Napoleon with results returned for the mineralized intervals of four holes. High grade intercepts have been returned. The Company has two drill rigs operating on the project testing multiple targets.

Drilling Highlights

NP-20-07
- 8,078 g/t silver equivalent (1,808.2 grams per tonne (g/t) silver, 66.8 g/t gold, 2.99% lead and 3.30 % zinc) over 6.0 metres (m) from 69.0 including;

o 12,992 g/t silver equivalent (2,889.2 g/t silver, 107.9 g/t gold, 4.80% lead and 4.56 % zinc) over 3.7m from 69.5m including;

o 21,034 g/t silver equivalent (2,240.0 g/t silver, 199.0 g/t gold, 12.85% lead and 3.27% zinc) over 0.85m from 72.35m

NP-20-05
- 284 g/t silver equivalent (134.3 g/t silver, 1.34 g/t gold, 0.49% lead and 0.91% zinc) over 10.65m from 112.35m including;

o 1,201 g/t silver equivalent (719.0 g/t silver, 5.10 g/t gold, 0.71% lead and 1.42% zinc) over 1.0m from 118.6m


Note: All numbers are rounded and widths represent downhole lengths. True widths are estimated at between 51-71% of downhole lengths. Silver equivalent is calculated using the following formula: Silver-equivalent = ((Au_g/t x 52.48) + (Ag_g/t x 0.5289) + (Pb_ppm x 0.0013) + (Zn_ppm x 0.0013)) / 0.5627). Metal price assumptions are $17.50 g/t silver, $1,700 g/t gold, $0.75 pound lead and $0.85 pound zinc, recoveries assumptions are 96% gold, 94% silver, 78% lead and 70% zinc based on similar deposit types.

Vizlsa is reporting as silver equivalent due to the average ratio of metal value in the Panuco district being 60:40 silver to gold. The companys geological interpretation of the results is that these high grades in NP-20-07 is in the very core of the mineralization and broader drilling is reverting to the silver dominant nature similar to observed in holes NP-20-04 and NP-20-05.



Vizsla President and CEO, Michael Konnert, commented: We are thrilled with these high grade results as they support our understanding that the Napoleon vein system remains open along trend to the north and south and at depth. With a 14,500 metre drill program underway, The Company will continue to drill the Napoleon vein system and the multiple other drill targets in vein systems across the Panuco district. Our second rig is currently turning at Cordon del Oro. Being fully-funded, Vizsla intends to provide steady drilling news flow over the summer months.

The Napoleon Vein Corridor is located almost entirely on concessions optioned from Rio Panuco which Vizsla has the right to purchase 100% of including the 500 tonne per day El Coco mill, tailings facility, roads, power and permits for a total of US$23,000,000.

Complete table of drillhole intersections
DrillhoFrom To WidthSilverGold Lead ZincSilver Comment
le Equivale
nt


(m) (m) (m) (g/t) (g/t)(%) (%) (g/t)
NP-20-061.3562.150.8 308.0 2.41 0.11 0.25522.6
4

And 96.2598.031.78 58.6 2.49 0.48 1.40330.8
And 105.5107.11.55 48.2 0.29 1.89 9.07327.0
5

And 113.5117.03.5 56.6 1.11 0.22 1.10186.9
Incl. 116.0117.01.0 90.3 3.05 0.45 2.43436.2
And 120.5127.56.95 75.0 0.78 0.23 0.96171.1 Hanging
5 wall

Vein
Incl. 125.3126.20.88 169.0 1.69 0.43 3.98418.5
7 5

NP-20-0112.3123.010.65134.3 1.34 0.49 0.91283.8 Hanging
5 5 wall
Vein
Incl. 118.6119.61.0 719.0 5.10 0.71 1.421,200.8
NP-20-054.9 57.3 2.4 Void space due to mined out
6 vein

And 58.0 58.6 0.6 Assays Pending Residual
non-min
ed
vein

And 125.1126.00.9 150.0 0.88 0.07 0.30231.4
NP-20-069.0 75.0 6.0 1,808.66.8 2.99 3.308,077.6 Hanging
7 2 wall


Vein
Incl. 69.5 73.2 3.7 2.889.107.94.80 4.5612,991.6
2

72.3573.2 0.85 2,240.199.012.853.2721,034.2
0

And 80.6 82.7 2.1 127.1 1.09 0.23 4.11322.3

Table 1:-Downhole drill intersections from the holes completed at the Napoleon Vein, Panuco.

Note: All numbers are rounded and widths represent downhole lengths. True widths are estimated at between 51-71% of downhole lengths. Silver equivalent is calculated using the following formula: Silver-equivalent = ((Au_g/t x 52.48) + (Ag_g/t x 0.5289) + (Pb_ppm x 0.0013) + (Zn_ppm x 0.0013)) / 0.5627). Metal price assumptions are $17.50 g/t silver, $1,700 g/t gold, $0.75 pound lead and $0.85 pound zinc, recoveries assumptions are 96% gold, 94% silver, 78% lead and 70% zinc based on similar deposit types. The company is disclosing results on a silver equivalent basis due to the overall silver dominant nature of mineralization at the Panuco project.

https://www.irw-press.at/prcom/images/messages/2020/52557/08072020_EN_Vizsla_20200708_Expands Napoleon Discovery FINAL.001.png

Figure 1:-Plan map showing location of drillholes, mapped veins and surface and underground sampling along the Napoleon vein. Inset shows detail of drill collar locations.

Drilling detail

The Napoleon corridor is hosted in weakly magnetic fine-grained diorite and trends approximately north - south. The structure hosts two main quartz veins that are separated by some 10 to 20 metres and appears to dip very steeply to sub-vertical. So far it has been mapped along strike for over 2,000 m. Between the two main veins are a series of smaller splay veins with variable orientations, that are related to dilation along the structure under strike slip movement.

The two main veins are multi-episodal quartz veins, with sections of massive white to greyish quartz as well as local brecciation with clasts of grey quartz, white vein quartz and / or wallrock pieces. The greyish quartz is grey due to the presence of the very fine-grained silver rich sulphide mineral argentite. A later breccia cuts these earlier phases comprising grey quartz supporting polymictic clasts of grey and white quartz along with strong chlorite and common to abundant, fine to medium grained pyrite, sphalerite and galena.

https://www.irw-press.at/prcom/images/messages/2020/52557/08072020_EN_Vizsla_20200708_Expands Napoleon Discovery FINAL.002.png

Figure 2:-Cross section through holes NP-20-06, NP-20-07 and NP-20-08.

Hole NP-20-06 is located 60m to the north of NP-20-03 and intersected the old mine workings at the target depth. A narrow interval of un-mined vein is awaiting assay results. Further down the hole (to the west) a narrow well mineralized vein was intersected at 125.1m.

Hole NP-20-07 was a steep hole that tested the main hanging wall vein 20m downdip from hole NP-20-06. The vein is dark grey with a semi-massive sulphide mineralization and little white or grey quartz. Further down the hole a second mineralized vein was intersected. This bonanza grade material was likely the focus of historical mining within the now inaccessible Napoleon mine.

Hole NP-20-08 was drilled steeper again and intersected the main vein and multiple additional veins into the footwall of the Napoleon structural corridor. Assays are pending for this hole.

Holes NP-20-09 and NP-20-10 were drilled off section to the south and north (of holes NP-20-06, -07 and -08), respectively and intersected veining. Lastly Hole NP-20-11 has just been completed to the south of the discovery hole NP-20-02. It intersected the main vein. These holes are being logged and sampled prior to shipping for assay.

Drilling has intersected the Napoleon vein over 150m of strike and it remains open to the north, south and at depth.
ProspecDrillhoEastinNorthinElevatiDIP AzimutHole Comment
t le g g on h Dept
h

NapoleoNP-20-04032862587344470 -60 80 147
n 4

NP-20-04032862587344470 -60 106 151.5
5

NP-20-04033552587420489 -60 258 150 Intersec
6 ted
void
at
target
depth

NP-20-04033552587420489 -72 258 225
7

NP-20-04033552587420489 -82 258 201.4
8

NP-20-04033552587420489 -65 215 168.7
9

NP-20-14033552587420489 -65 300 150
0

NP-20-14034242587284450 -43 280 160.8
1

Table 2:-Drill hole details. Coordinates in WGS84, Zone 13.

About the Panuco project
Vizsla has an option to acquire 100% of the newly-consolidated 9,386.5 Ha Panuco district in southern Sinaloa, Mexico, near the city of Mazatlán. The option allows for the acquisition of over 75 km of total vein extent, a 500 tpd mill, 35 kms of underground mines, tailings facilities, roads, power and permits.

The district contains intermediate to low sulfidation epithermal silver and gold deposits related to siliceous volcanism and crustal extension in the Oligocene and Miocene. Host rocks are mainly continental volcanic rocks correlated to the Tarahumara Formation.

Quality Assurance / Quality Control

Drill core and rock samples were shipped to ALS Limited in Zacatecas, Zacatecas, Mexico and in North Vancouver, B.C. Canada for sample preparation and for analysis at the ALS laboratory in North Vancouver. The ALS Zacatecas and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Silver and base metals were analyzed using a four-acid digestion with an ICP finish and gold was assayed by 30-gram fire assay with atomic absorption (AA) spectroscopy finish. Overlimits analyses for silver, lead and zinc were re-assayed using an ore-grade four-acid digestion with AA finish.

Control samples comprising certified reference samples, duplicates and blank samples were systematically inserted into the sample stream and analyzed as part of the Companys quality assurance / quality control protocol.

Qualified Person

Panucos disclosure of technical or scientific information in this press release has been reviewed and approved by Stewart Harris, P.Geo., an independent consultant for the Company. Mr. Harris is a Qualified Person as defined under the terms of National Instrument 43-101.

Contact Information: For more information and to sign-up to the mailing list, please contact:

Michael Konnert, President and Chief Executive Officer
Tel: (604) 838-4327
Email: michael(at)vizslaresources.com

In Europe:
Swiss Resource Capital AG
Jochen Staiger
info(at)resource-capital.ch
www.resource-capital.ch

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS

This news release includes certain ForwardLooking Statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forwardlooking information under applicable Canadian securities laws. When used in this news release, the words anticipate, believe, estimate, expect, target, plan, forecast, may, would, could, schedule and similar words or expressions, identify forwardlooking statements or information. These forwardlooking statements or information relate to, among other things: the development of Panuco, including drilling activities; future mineral exploration, development and production; and completion of a maiden drilling program.

Forwardlooking statements and forwardlooking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Vizsla, future growth potential for Vizsla and its business, and future exploration plans are based on managements reasonable assumptions, estimates, expectations, analyses and opinions, which are based on managements experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold and other metals; no escalation in the severity of the COVID-19 pandemic; costs of exploration and development; the estimated costs of development of exploration projects; Vizslas ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.

These statements reflect Vizslas respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forwardlooking statements or forward-looking information and Vizsla has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company''s dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company''s mining activities in Mexico; regulatory, consent or permitting delays; risks relating to reliance on the Company''s management team and outside contractors; risks regarding mineral resources and reserves; the Company''s inability to obtain insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; the ability of the communities in which the Company operates to manage and cope with the implications of COVID-19; the economic and financial implications of COVID-19 to the Company; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the Company''s interactions with surrounding communities and artisanal miners; the Company''s ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; and the factors identified under the caption Risk Factors in Vizsla''s management discussion and analysis. Readers are cautioned against attributing undue certainty to forwardlooking statements or forward-looking information. Although Vizsla has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Vizsla does not intend, and does not assume any obligation, to update these forwardlooking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as required by applicable law



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Date: 07/08/2020 - 12:46
Language: English
News-ID 1559323
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