Vizsla Discovers New High-Grade Precious Metals Zone at Panuco

Vizsla Silver reported the results of 18 drill holes that targeted the southern extension of the Napoleon Vein at the Panuco silver-gold project in Sinaloa. The company said its exploration work has led to the identification of a new zone rich in high-grade precious metals, which will now be explored further. The results will be added to the company’s resource estimate, planned for 4Q22.

In a press release, Vizsla announced that the southern extension of Napoleon remains the company's main target due to its high mining potential. It noted that results from 18 new holes led to the discovery of a high-grade mineralized shoot, which has increasing grades and widths along strike.

Among the main highlights of the drilling program were the hole NP-22-258, featuring “2,098g/t silver equivalent over 4.3m true width, [consisting of] 1,139g/t silver, 11.48g/t gold, 0.32  percent lead and 0.85 percent  zinc,” as well as the hole NP-22-271, with “677g/t of silver equivalent over 7m true width, [consisting of] 223g/t silver, 2.76g/t gold, 1.54  percent lead and 5.01 percent zinc.”

“Furthermore, today’s reported high-grade intercepts demonstrate that Napoleon is more than a single structure, it is interpreted to be a vein system with multiple splays hosting great potential for additional resource growth. Drilling continues with three rigs, including one direction rig, focussed on resource expansion and conversion along the Napoleon Vein Corridor,” said Michael Konnert, President and CEO, Vizsla Silver.

Vizsla explained that its 2021 exploration program allowed it to better understand the controls on mineralization along the Napoleon vein. Due to the results of the exploration program, the company believed that the corridor was tilted, with the southern extension at the top of the near-surface mineralized horizon. Consequently, in 1Q22, Vizsla used up to four rigs in order to test this possibility and expand its resources. The latest results from the 18 drill holes led to the identification of high-grade precious metals below the Napoleon resource. To date, the are has been laid 800m along strike, 300m down and is open to depth. The company highlighted that it will continue with its exploration program in the area, ahead of the planned resource upgrade in 4Q22.

The district-scale Panuco epithermal silver-gold vein project covers 9,386.5ha in Sinaloa. The property has a long mining history: its first silver production occurred in the 16th century and it has been in production intermittently ever since. The project has more than 20 veins, of which several have demonstrated high silver and gold grades. Konnert told MBN that the Panuco project is the consolidation of a district-scale land package, comparable in size and geology to First Majestic’s San Dimas mine.