Vizsla Silver reports more high-grade assays at Panuco in Mexico

Vizsla Silver (TSXV: VZLA; NYSE: VZLA) says new drill results show continuity in high-grade mineralization at its Panuco silver-gold project in Sinaloa, western Mexico.   

Vancouver-based Vizsla released assays from 14 drill holes on the 68-sq.-km Panuco project on Mexico’s Pacific coast near the city of Mazatlán, about 1,000 km northwest of Mexico City.  

The infill drilling on the Copala structure of Panuco’s western area showed highlights of 15 metres grading 1,548 grams silver-equivalent per tonne in hole CS-22-46, Vizsla said in a news release on Wednesday. That included 3.07 metres grading 3,872 grams silver-equivalent and 2.31 metres grading 3,356 grams silver-equivalent.  

Hole CS-22-248 returned 20.6 metres grading 787 grams silver-equivalent including 1.02 metres grading 1,099 grams silver-equivalent and 0.26 metres grading 3,195 grams silver-equivalent.  

“Drilling at Copala continues to demonstrate exceptional continuity of high-grade mineralization,” Vizsla president and CEO Michael Konnert said in the release. “Step-out drilling beyond the resource wireframe continues to highlight Copala’s near-term growth potential.” 

Vizsla said it has three drill rigs targeting the Copala and Cristiano area, where near-surface high-grade mineralization remains open laterally and at depth. The western part of Panuco encompasses about 8 km of the area’s 86-km vein strike.  

Drilling at Copala has traced mineralization along 1,100 metres of strike length and about 400 metres down dip, the company said. It is also drilling an uplifted block to the east of Copala that may host similar mineralization closer to the surface on the footwall side of the fault. 

In January, Vizsla updated Panuco’s indicated mineral resource to 7.5 million tonnes grading 243 grams silver per tonne, 2.12 grams gold, 0.23% lead and 0.71% zinc for contained metal of 58.3 million oz. of silver, 508,000 oz. gold, 17,000 tonnes lead and 53,300 tonnes zinc.  The company highlighted the 71% increase in indicated contained silver-equivalent to 104.8 million oz. from 61.1 million oz. reported in March last year. 

Shares in Vizsla were flat Wednesday afternoon in Toronto at $1.80 each, within a 52-week range of $1.19 to $2.85, valuing the company at $326 million.