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Vizsla Silver Corp. (TSXV: VZLA, NYSE: VZLA, Frankfurt: 0G3) is a Canadian mineral exploration and development company with its headquarters in Vancouver, BC. The company is primarily focused on advancing its flagship, 100%-owned Panuco silver-gold project located in Sinaloa, Mexico. This project spans 17,856.5 hectares and is notable for its high-grade silver and gold mineralization.
At the core of the Panuco project are numerous mineral deposits, including the Copala and Napoleon veins. The Panuco district has a proven track record with over 86 kilometers of total vein extent and 35 kilometers of underground workings, supported by established roads, power, and permits.
Vizsla Silver has made significant strides in exploration, completing over 368,000 meters of drilling to discover several new high-grade veins. The company recently announced an updated mineral resource estimate for Panuco, which includes an estimated in-situ indicated mineral resource of 155.8 Moz AgEq and an in-situ inferred resource of 169.6 Moz AgEq.
In a strategic move to expand its resource base, Vizsla Silver entered into an agreement to acquire the past-producing La Garra-Metates district situated in the heart of the Panuco – San Dimas corridor. This acquisition includes two vein systems with significant silver and gold grades, further bolstering the company's portfolio.
For 2024, Vizsla Silver has outlined an ambitious plan, budgeting over 65,000 meters of resource and discovery-based drilling. The primary objectives are to upgrade and expand the existing mineral resources, as well as to test other high-priority targets across the district. The company aims to de-risk the resource base located in the western portion of the district ahead of a development decision, strategically positioning itself to become a leading silver producer globally.
Vizsla Silver is not just limited to exploration. The company is actively involved in various strategic initiatives, including the spinout of Vizsla Royalties Corp. (Spinco) to its shareholders. This move is expected to enhance shareholder value by unlocking the potential of its royalty assets.
Ensuring rigorous quality control, Vizsla Silver employs systematic insertion of control samples, certified reference materials, duplicates, and blanks into the sample stream. These samples are analyzed at ISO certified facilities, maintaining high standards of accuracy and reliability.
With a talented management team, a strong financial position, and a clear focus on strategic growth, Vizsla Silver is well-positioned to capitalize on the rising demand for silver driven by global decarbonization and electrification efforts.
Vizsla Silver (TSX: VZLA) has initiated a fully funded and permitted test mining and bulk sample program at its 100%-owned Panuco silver-gold project in Sinaloa, Mexico. The program aims to validate geotechnical conditions, reconcile resource models, and build operational experience.
The program includes approximately 1,071 meters of ramp and lateral development, with plans to mine about 10,000 tonnes of high-grade material. The company has awarded contracts to two Mexican contractors: Econsa for earthworks and OMyTC for underground mining operations. The program commenced on November 28, 2024, with bulk earthworks.
Additionally, Vizsla continues exploration with a 10,000-metre discovery-based drill campaign using two rigs in the eastern district, and has contracted Geofisica TMC for a ground HLEM survey. A Feasibility Study is planned for H2 2025, following an updated mineral resource estimate in early Q1 2025.
Vizsla Silver (VZLA) has received final approval to graduate from the TSX Venture Exchange to the Toronto Stock Exchange. Trading on TSX will begin November 7, 2024, under the symbol 'VZLA', while delisting from TSXV occurs November 6, 2024. The company will maintain its NYSE American listing. The uplisting represents a growth milestone that is expected to increase market visibility and broaden investor exposure. Vizsla's Panuco silver-gold project recently completed a Preliminary Economic Study showing 15.2 Moz AgEq annual production over 10.6 years, with after-tax NPV5% of US$1.1B and 86% IRR.
Vizsla Silver has received conditional approval to graduate from TSX Venture Exchange to the Toronto Stock Exchange (TSX), pending final conditions. The company's common shares will continue trading under symbol VZLA on both TSX and NYSE American. No action is required from shareholders for this transition.
Additionally, under its ATM Program launched September 13, 2024, the company issued 3,900,000 common shares on NYSE American at an average price of US$2.1892, generating gross proceeds of US$8.54 million with commissions of US$256,136.40 paid to agents for the quarter ended October 31, 2024.
Vizsla Silver's Mexican subsidiary, Minera CANAM, has been awarded the Socially Responsible Company Distinction (ESR) for the third consecutive year since 2022. This recognition, Mexico's highest corporate social responsibility award, is jointly presented by CEMEFI and ALIARSE to companies demonstrating exceptional commitment to social and environmental values.
The company has also received the Safe and Healthy Work Environments Distinction (ELSSA) for implementing strategies to enhance worker health, safety, and well-being. Since 2019, Vizsla has focused on responsible mining at the Panuco Project, emphasizing environmental stewardship, operational transparency, community support, and maintaining safe working conditions.
Vizsla Silver Corp. (TSXV: VZLA) (NYSE: VZLA) has completed the acquisition of the past-producing La Garra-Metates district in the Panuco – San Dimas corridor. The company will make cash payments totaling US$3,075,000 and issue 5,555,555 common shares at a deemed price of US$1.26 per share over 24 months. 90% of the shares will be subject to voluntary resale restrictions over 36 months. Vizsla Silver has paid US$1,606,500 in back taxes on the concessions and granted the sellers a 1% net smelter returns royalty (NSR), which can be repurchased for US$750,000. Additionally, a 2% NSR was granted to Asteria Mining Services as a finder's fee.
Vizsla Silver Corp. (VZLA) has announced a $65 million bought deal financing through the issuance of 25,000,000 common shares at $2.60 per share. The offering, led by Canaccord Genuity, includes an over-allotment option for an additional 15% of shares, potentially increasing the total gross proceeds to $74,750,000. The company plans to use the net proceeds to advance its Panuco Project, as well as for working capital and general corporate purposes. The offering is expected to close around September 19, 2024, subject to regulatory approvals. The shares will be offered via a prospectus supplement in Canada and the United States, with documents available on SEDAR+ and EDGAR.
Vizsla Silver Corp. (TSXV: VZLA) (NYSE: VZLA) has updated its at-the-market equity program (ATM Program) to offer and sell up to US$100 million of common shares. The sales will be made through designated agents on the TSX Venture Exchange and NYSE American. The offering is made pursuant to a prospectus supplement dated September 13, 2024, to the company's base shelf prospectus. Net proceeds will fund ongoing work programs at the Panuco Project, working capital, and general corporate purposes. The ATM Program will be effective until all shares are sold or the base shelf prospectus expires. CEO Michael Konnert stated that having an ATM Program available provides optionality, noting that the company never utilized its previous ATM from April 2021 to March 2023.
Vizsla Silver Corp. (VZLA) has filed a technical report titled 'Panuco Project – NI 43-101 Technical Report and Preliminary Economic Assessment' (PEA) with an effective date of July 24, 2024. The PEA, independently completed by Ausenco Engineering Canada ULC, supported by Entech Mining and SGS Canada Inc., is now available on SEDAR+ and the company's website. This report follows the previously announced PEA results on July 24, 2024, providing a comprehensive economic assessment of the Panuco Project. The filing of this technical report marks a significant milestone for Vizsla Silver, offering investors and stakeholders detailed insights into the project's potential economic viability and future prospects.
Vizsla Silver Corp. (VZLA) has reported exceptional results from infill drilling at the Copala resource area of its Panuco silver-gold project in Mexico. The drilling confirmed high-grade mineral continuity near the surface, where initial mining is expected to occur in the first two years of production. Highlights include:
- CS-24-381A: 6,270 g/t AgEq over 6.25m true width
- CS-24-375: 1,212 g/t AgEq over 14.20m true width
- CS-24-377: 1,083 g/t AgEq over 10.00m true width
- CS-24-380: 2,554 g/t AgEq over 13.30m true width
The company has commenced an additional 5,000+ metre drill program to expand resources and upgrade inferred resources at Copala, expected to be completed in late September.
Vizsla Silver Corp. (NYSE: VZLA, TSX-V: VZLA) has announced an updated exploration plan for its Panuco Project in Sinaloa, Mexico. The company plans to conduct 10,000 metres of new exploration drilling targeting high-priority zones in the central and east areas of the district, with a focus on identifying the next epicenter of high-grade mineralization. Additionally, 5,000 meters of resource infill/expansion drilling will be completed in the Copala central area.
This comprehensive plan also includes geophysical surveys over 950 line-km and aims to update the mineral resource estimate by Q4 2024. The previous drilling efforts have resulted in multiple new discoveries and a robust resource base that will serve as the foundation for Panuco Project 1.
Recent acquisitions of La Garra and San Enrique properties have extended Vizsla's land package, promising further exploration upside. The company is leveraging advanced technologies like AI and machine learning to enhance targeting, alongside traditional methods.
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