Vancouver, British Columbia (April 2, 2020) – Vizsla Resources Corp. (TSX-V: VZLA) (“Vizsla” or the “Company”) reports that the Company is postponing its Mexican exploration operations at the Panuco project (the “Project”) in accordance with the recent announcement by the Mexican Federal Government to temporarily suspend all non-essential business operations until April 30, 2020, in response to the COVID- 19 virus outbreak. During this time, however, the Company expects to release drill assays from the Project.
“The safety of our employees is of the utmost importance during these times. Vizsla continues to monitor the situation and remains dedicated to following local health protocols to protect its personnel. When it is safe to do so, drilling will recommence at the Project”, commented Michael Konnert, President and CEO. “In the meantime, we continue to await results at the Honduras Vein and look forward to announcing those in due course.”
The Company has been able to complete an additional seven drill holes at the Honduras Vein and samples for six of the holes have been submitted for analysis prior to the suspension of exploration. Field mapping has significantly advanced the northern extension of the Animas and the Cordon del Oro vein corridors and the company is looking forward to testing these targets upon the resumption of its exploration program.
The Company will be proceeding with a work from home policy for its employees at the Project and continues to support the local team with awareness and response to the COVID-19 virus. The break in field activities will provide the Company’s technical team an additional opportunity to review results to date and refine the 2020 exploration program campaign.
The Company is in a strong financial position to manage the current business environment. It remains fully funded for the 2020 discovery drill program and for corporate overhead, having raised $6,000,000 in December 2019.Vizsla continues to use VRIFY Technology to safely market the Company and the Panuco district to shareholders and potential investors. Please find the Company’s VRIFY profile here: https://vrify.com/explore/companies/vizsla-resources
About the Panuco project
Vizsla has an option to acquire 100% of the newly-consolidated 9,386.5 Ha Panuco district in southern Sinaloa, Mexico, near the city of Mazatlán. The option allows for the acquisition of over 75 Kms of total vein extent, a 500 tpd mill, 35 Kms of underground mines, tailings facilities, roads, power and permits.
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.
Michael Konnert, President and Chief Executive Officer
Tel: (604) 838-4327
Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Vizsla to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption “Risk Factors” in the Company’s Annual Information Form dated as of February 26, 2020 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
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