Category: Exploration and Development

CEO Michael Konnert stated, “Vizsla has had success drilling high-grade silver and gold at the Copala-Panuco district. Our goal is to drill a near-term resource at Napoleon, where we recently doubled the depth extension…”

Geologist and Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), Michelle Robinson comments “results of our phase-one program at Picachos imply a robust and geographically expansive mineralized system for which we have only just scratched the surface. I am very pleased with our results, in particular the number of targets demanding follow up drilling or for newly discovered zones, a first ever drill hole. The Cocolmeca vein structure (CVS) is persistent and strongly mineralized and I look forward to expanding the depth and strike length in 2021, as well as continuing the exploration of the rest of the CVS, particularly in the central Cocolmeca area.”

“The Company continues to outline a much larger epithermal system in the San Juan Area of the Plomosas Project. The recent drilling data at the San Francisco Vein delineates additional zones of epithermal veining and hydrothermal breccias, extending existing structures 200 m to the south. The integration of the San Juan Area with the potential acquisition of concessions between the San Marcial and Plomosas Projects delineates an initial 4 km long, 100%-controlled north-south mineralized corridor. This corridor represents only one of the nine mineralized corridors under exploration by the Company inside the Plomosas Silver Project…”

“We are excited to see how drilling at the El Capitan oxide gold zone at the Penoles project is expanding gold mineralization down-dip and along strike from the drilling that was used for the maiden 43-101 Resource (2015). In addition, the discovery and delineation of the Hanging Wall Zone provides an opportunity to expand the near-surface gold mineralization and enhance the overall project.”

Greg McKenzie, President and CEO commented: “We are pleased to see the current drill program is advancing with strong productivity, despite challenges associated with COVID. Infill sampling and assays of previously unsampled areas have generated insight, and allow us to significantly expand mineralized areas, improve continuity and has demonstrated higher grades. As our exploration program continues over the coming months, we look forward to unlocking further value on the San Diego Project.”

“Casados, like El Orito, is the second major epithermal silver and gold discovery our exploration team has made since we began working on the Los Ricos North property only 8 months ago,” said Brad Langille, President and CEO. “These discoveries, along with the resource drilling at El Favor and La Trini, we believe will be paramount to the team defining a significant Mineral Resource Estimate at Los Ricos North in 2021. This additional discovery at Casados continues to strengthen our belief that Los Ricos North is a very large mineralized system.”

“Magna has a promising portfolio of silver projects in Mexico and an ambitious exploration program planned for the year. We expect good results from Margarita, as well as our other properties, and we look forward to reporting the results over the course of 2021.”

“We are very pleased with the results from our inaugural drill program at San Javier. While previously thought to be controlled by low angle structures, our new drill results suggest that the high-grade gold is associated with higher-angled structures in close proximity to what we believe is a heavily mineralized breccia pipe system seen in the drill core.”

Phase four drilling to date has completed 6 drill holes AMDD20-22 to AMDD21-27 for total 2,785 metres. Results have been received for holes AMDD20-22 to AMDD21-25. Drilling is ongoing with drill hole 28 in progress and further drill holes planned.

“The continued material expansion of the Buena Suerte Gold Zone and the positive drilling results at El Rincón and the newly identified Bellotoso zone not only brings us closer to our goal of developing a major bulk-tonnage, oxide gold resource to support both the conceptual 20,000 tonnes per day target capacity being addressed by our planned preliminary economic assessment, but also the potential for gold production growth in the years to come.”