Drilling is evidently going too slow for management at Vizsla Resources (TSXV: VZLA) Panuco silver-gold project in Sinaloa, Mexico. The company this morning announced the addition of a fifth drill rig to the currently ongoing 31,300 metre drill campaign, which notably comes from a different drilling contractor than the four drills currently on site.
This additional drill is to be focused on the Tajitos discovery on the Cinco Senores vein corridor within the project. Drilling by this unit will be conducted as a follow up to the previously announced discovery. The existing rigs meanwhile will continue to remain focused on the three main vein corridors of Napoleon, Cordon del Oro and Animas.
To date, four holes have been completed on the Tajitos Vein. Last month, the company released the assays from the first three of these holes, reporting highlight values of 3,581 g/t silver equivalent over 1.15 metres at a depth of 78.96 metres, within a larger interval of 1,808 g/t silver equivalent over 4.5 metres. The vein in said to have had significant mine development despite never having been previously drilled.
Drilling to be conducted by the additional rig will look to step out along strike at depth from these initial intercepts. The vein currently has over 360 metres of known strike.
A total of 16,600 metres of drilling has been completed within the current drill program at Panuco, as of October 7th.
Vizsla Resources last traded at $1.50 on the TSX Venture.
Information for this briefing was found via Sedar, and Vizsla Resources. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.