Vizsla Intercepts High-Grade Gold, Silver in SinaloaBy Alejandro Ehrenberg | Wed, 07/08/2020 - 14:47
Vizsla Resources has announced additional drilling results from the Napoleon Vein Corridor at the Panuco silver-gold project in Sinaloa. A total of eleven holes have been completed to date at Napoleon with results for mineralized intervals in four holes. High-grade intercepts have been returned, the company said.
"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 14,500m drill program underway, we 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," said Vizsla President and CEO, Michael Konnert.
As described by Konnert in an interview with Mexico Business News, the Panuco project is the consolidation of a district-scale land package, comparable in size and geology to First Majestic’s San Dimas mine. “It holds more than 20 veins, several of which have demonstrated high silver and gold grades. The project is located 45 minutes outside of Mazatlan. The project is high-grade silver and gold, with a total greater than 75km of cumulative vein strike. So far, there are no base metals. Geologically, it has a similar vein system to the San Dimas mine,” he said.
Konnert went on to explain that the area’s first silver production occurred in the 1500s and it has been producing intermittently ever since, with steady production over the last several decades. “Regarding the history of the land, we have records of all the production that has taken place. The Panuco epithermal vein project is the consolidation of mining concessions totaling 9,386.5ha in a producing mining camp,” he added.
Vizsla believes there is significant high-grade silver and gold potential at Panuco. “This is the first time the entire district will be explored as a consolidated region that has not seen modern exploration except for a small drill campaign between 2006 and 2008 on a portion of the district,” Konnert noted. The Napoleon Vein Corridor is located almost entirely on concessions optioned from Rio Panuco, which Vizsla has the right to fully purchase, including the 500 ton per day El Coco mill, tailings facility, roads, power and permits for a total of US$23 million.
The company explained that the Napoleon corridor is hosted in weakly magnetic fine-grained diorite. The structure hosts two main quartz veins that are separated by 10 to 20m and appears to dip very steeply to sub-vertical. So far it has been mapped along strike for over 2,000m. 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 wallrock pieces. The greyish quartz has that color due to the presence of 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.