(VZLA-TSX-V)
Highlights
- Hole NP-21-132 returns 797 g/t silver equivalent (AgEq) over 2.5 metres downhole from 178.1 metres (m) including;
- 4,431 g/t silver equivalent over 0.30 m downhole from 179.2
- Hole NP-21-139 returns 869 g/t silver equivalent over 1.45 metres downhole from 197.55m
- Drilling intersected veining of 90m strike, 190m depth where it remains open. EM has mapped the vein over 1.7 kilometres
Vizsla President and CEO,
Josephine Drilling Details
The Josephine vein was discovered during a trial fixed loop ground EM survey completed along the Napoleon Vein Corridor. The vein runs subparallel, approximately 200m to the west of the Napoleon vein and was not known prior to the EM survey.
The vein is defined with three separated EM plate targets however the vein is likely to be a continuous vein over 1,700 metres of strike. The separated targets either reflect zones of increased massive sulphide along the vein or more likely limitations in the survey design due to the overlap of the transmitter loop and receiver lines.
The vein mineralogy, textures and style of mineralization are very similar to the main Napoleon zone with multiple episodes of vein formation. Quartz varies from massive, banded to brecciated and has white to grey coloured phases. Mineralization varies from disseminated to massive and is composed of galena, sphalerite, argentite/acanthite and pyrite. All three holes have subzones of massive sulphide believed to define the EM anomaly and in hole NP-21-132 this sub-interval contains very high grades of silver and gold (0.3m at 3,320g/t silver, 12.4g/t gold) with base metals (1.77% lead and 4.9% zinc).
The Company is presently drilling at the northern end of the Napoleon vein corridor (1,540m along strike from the discovery holes) where the projected Josephine vein and Napoleon veins are close enough to intersect with a single hole (Figure 1). This drilling has successfully intersected both veins with the Josephine vein occurring within metres of the modelled EM plate target. Drilling is ongoing and assays are pending.
Drilling has also commenced on combined EM and mapping targets in the
Complete table of Josephine drill hole intersections
Drillhole | From | To | Down Hole Length | Gold | Silver | Lead | Zinc | Silver Equivalent |
(m) | (m) | (m) | (g/t) | (g/t) | (%) | (%) | (g/t) | |
NP-21-132 | 178.1 | 180.6 | 2.5 | 2.16 | 598.6 | 0.45 | 1.00 | 797.4 |
Incl. | 179.2 | 179.5 | 0.30 | 12.40 | 3,320 | 1.77 | 4.91 | 4,431.4 |
NP-21-137 | 170.4 | 172.9 | 2.5 | 0.73 | 99.6 | 0.43 | 1.84 | 214.2 |
NP-21-139 | 197.55 | 199.0 | 1.45 | 3.40 | 426.5 | 1.01 | 5.51 | 868.7 |
Incl. | 197.55 | 198.7 | 1.15 | 3.91 | 502.0 | 1.25 | 6.80 | 1,020.3 |
NP-21-141 | No significant values |
Table 1: Downhole drill intersections from holes completed at the
Note: All numbers are rounded. True widths are estimated to be 45% of downhole widths. 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 |
Drill Collar Information
Prospect | Drillhole | Easting | Northing | Elevation | Dip | Azimuth | Hole Depth |
Josephine | NP-21-132 | 403,276 | 2,587,055 | 497 | -40 | 219 | 196 |
NP-21-137 | 403,276 | 2,587,056 | 497 | -47 | 228 | 198 | |
NP-21-139 | 403,277 | 2,587,056 | 497 | -52.5 | 224 | 274 | |
NP-21-141 | 403,277 | 2,587,055 | 497 | -40 | 210 | 289 |
Table 2: Drill hole details. Coordinates in WGS84, Zone 13
About the
Vizsla has an option to acquire 100% of the newly consolidated 9,386.5-hectare
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
Control samples comprising certified reference samples, duplicates and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's quality assurance / quality control protocol.
Qualified Person
The Company's disclosure of technical or scientific information in this press release has been reviewed and approved by
Stock Options
The Company would like to announce that it has granted a total 220,000 options to an officer at a strike price of
Neither
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward–Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward–looking 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 forward–looking statements or information. These forward–looking statements or information relate to, among other things: the development of
Forward–looking statements and forward–looking 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 management's reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's 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; Vizsla's ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Vizsla's 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 forward–looking 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
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