Vancouver-based explorer Vizsla Silver (TSX-V:VZLA) has intercepted up to 9,920 grams per tonne (g/t) silver and 663g/t gold at its flagship Panuco Project in Mexico.
The explorer, which has a market capitalisation of around C$576 million ($632.4 million), has released the results of five new drill holes aimed at infilling near-surface indicated resources.
Vizsla says drilling continues to confirm high-grade continuity throughout Copala.
Hole CS-24-356 returned an intersection of 4.2m @ 8,817g/t silver equivalent (1,694g/t silver and 103.2g/t gold), including 0.64m @ 55,769g/t silver equivalent (9,920g/t silver and 663g/t gold).
CEO Michael Konnert says the results represent some of the highest-grade gold intercepts drilled to date at the Panuco Project.
“Our ongoing infill program, targeting the near-surface ultra high-grade zone at Copala continues to deliver exceptional silver and gold grades over very broad widths,” he says.
“In addition to confirmation of continuity, hole CS-24-356 also expanded high-grade mineralisation closer to surface.”
Konnert says Vizsla will continue conversion drilling at Copala to de-risk the project ahead of a maiden Preliminary Economic Assessment, which is slated for completion in early Q3 2024.
The Copala deposit currently hosts indicated resources of 83.3 million ounces @ 573g/t silver equivalent and inferred resources of 48.3 million ounces @ 476g/t silver equivalent.
Exploration and resource drilling at Copala has so far traced mineralisation along about 1,770m of strike and 400m down dip.
Vizsla is drilling 10,000m across 35 holes to move indicated resources into the higher confidence measured category.
The program, which is scheduled for completion by mid to late July, is also targeting Copala-like structures.
For 2024, Vizsla expects to undertake over 30,000m of resource/discovery-based drilling designed to upgrade and expand the resource, as well as test other high priority targets across the district.
Write to Angela East at Mining.com.au
Images: Viszla Silver
