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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 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.
Vizsla Silver Corp. (TSX-V: VZLA, NYSE: VZLA) has announced a positive preliminary economic assessment (PEA) for its Panuco silver-gold project in Mexico. The PEA, conducted by Ausenco and supported by Entech and SGS, forecasts an after-tax NPV (5%) of $1.137 billion and an after-tax IRR of 85.7%. The project requires an initial capex of $224 million and is expected to produce an average of 15.2 million ounces of silver equivalent (AgEq) annually at an all-in sustaining cost (AISC) of $9.40 per ounce AgEq over an 11-year mine life. The mine is anticipated to generate substantial free cash flow with a rapid payback period of nine months. Ongoing drilling is expected to further enhance the project's economics. Key metrics include a 3,300 tpd production rate for the first three years, expanding to 4,000 tpd in Year 4, and a life-of-mine (LOM) average annual production of 15,225 koz AgEq. The assessment is based on conservative metal prices of $26/oz silver and $1,975/oz gold.
Vizsla Silver Corp. (NYSE/TSXV: VZLA) has announced exceptional results from five new drill holes at the Copala resource area within its Panuco silver-gold project in Mexico. Notably, hole CS-24-356 yielded 8,817 g/t silver equivalent (AgEq) over 4.20 metres true width (mTW), including the highest-grade intercept ever recorded at Panuco with 55,769 g/t AgEq over 0.64 mTW. This intercept comprises 9,920 g/t silver and 663 g/t gold.
Additional highlights include hole CS-24-362 with 1,103 g/t AgEq over 10.50 mTW, including 4,881 g/t AgEq over 1.47 mTW. The drilling program, aimed at converting near-surface Indicated Mineral Resources to Measured Resources, confirms high-grade mineral continuity and expands mineralization closer to the surface. The ongoing 10,000-metre infill program is expected to conclude by mid to late July, with further exploration planned to upgrade and expand resources in high-priority areas.
Vizsla Silver announces the final approval of its plan to spin out its subsidiary, Vizsla Royalties Corp, from the TSX Venture Exchange.
The reorganization will be effective at 12:01 a.m. on June 24, 2024. Current shares of Vizsla Silver will be delisted from the TSX Venture Exchange at the close of business on June 21, 2024, with new shares commencing trading on June 24, 2024. The CUSIP number for the new shares will be 92859G608.
On June 19, 2024, Vizsla Silver announced that the Supreme Court of British Columbia approved its plan of arrangement with Vizsla Royalties Corp. Under this arrangement, shareholders will receive one new Vizsla Silver share, one-third of a Vizsla Royalties common share, and one-third of a Vizsla Royalties share purchase warrant for each Vizsla Silver share held. This arrangement will result in Vizsla Royalties no longer being a wholly-owned subsidiary of Vizsla Silver. The closing of the arrangement is expected on June 24, 2024.
Vizsla Silver Corp. (NYSE: VZLA, TSX-V: VZLA, Frankfurt: 0G3) announced that shareholders approved the plan of arrangement with Vizsla Royalties Corp. at a special meeting. Shareholders will receive one-third of a common share and one-third of a common share purchase warrant of Spinco for each Vizsla Silver share held. 43.69% of the outstanding shares were present, and the arrangement was approved by 85.03% of the votes. The Spinco share option plan was also approved by 69.16% of votes. The company will seek a final order from the Supreme Court of British Columbia on June 19, 2024. Shareholders of record on June 21, 2024, will receive Spinco securities.
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