Vizsla Extends Papayo Prospect at Panuco ProjectBy Paloma Duran | Tue, 01/26/2021 - 12:54
Vizsla Resources announced its results from eight holes at the Papayo prospect, which belongs to the Panuco silver-gold project and extends the Papayo zone over 120m to the south.
Michael Konnert, President and CEO of Vizsla Resources, 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. The project has more than 20 veins, of which several have demonstrated high silver and gold grades. The Panuco project is located in Sinaloa and situated on a major highway in the Sierra Madre epithermal belt.
“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,” reported the company.
In September, the company announced its high-grade discovery on the first hole at Papayo, which was a demonstration of the scale and potential of both the Napoleon vein corridor and the Panuco district. The company explained that it targeted the Papayo Zone because it has the same characteristics as the initial discovery at Napoleon, with high grades sampled at surface, small scale mining and a northwest jog of the vein creating a dilation zone to host mineralization, which is in a wide complex fault zone hosted by andesite tuff, reported MBN.
Konnert mentioned in a recent press release that Papayo now extends over 240m strike with two parallel veins with mineralization. It is located 1km from the Napoleon discovery and is one of the company’s main targets. As a result, Vizsla is carrying out a systematic 100m spaced program to test the entire 2.7km length of the corridor to find new areas and delimit the Napoleon Vein.
The drilling program at Papayo has defined a central zone with mineralization that is better developed in the hangingwall vein. Meanwhile, in the south, the program has intersected a zone of mineralization near the NP-20-50, which is open for expansion with higher grades in the hangingwall and footwall veins.
The company announced that its main highlights were in the holes NP-20-50 that had “413g/t silver equivalent (198.0g/t silver, 0.96g/t gold, 1.43 percent lead and 4.53 percent zinc) over 1.91m true width from 132.4m and NP-20-36 that had 321g/t silver equivalent (144.3g/t silver, 1.21g/t gold, 0.75 percent lead and 2.41 percent zinc) over 2.46m true width from 184.5m.”
Additionally, the broader Napoleon structure hosts two main quartz veins that are separated by 10m to 20m with a series of smaller veins with variable orientations in between, which are related to the opening and the “structure under strike slip movement.” The two main veins have a width of 0.4m to 15.3m and the majority is next to the main fault structure.