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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. (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.
Vizsla Silver Corp has announced promising results from 12 new drill holes in its 100%-owned Panuco silver-gold project in Mexico.
Key highlights include:
- Drill hole CS-24-354 returned 1,503 g/t silver equivalent (AgEq) over 13.00m true width (TW), including 6,229 g/t AgEq over 1.40m TW.
- CS-24-344 returned 1,363 g/t AgEq over 8.70m TW.
- CS-24-352 returned 2,872 g/t AgEq over 5.00m TW.
- CS-24-347 returned 2,440 g/t AgEq over 6.00m TW.
The drilling confirms high-grade silver and gold mineralization continuity at Copala, essential for a Preliminary Economic Assessment planned for early Q3 2024.
Copala currently hosts indicated resources of 83.3 Moz AgEq at 573 g/t AgEq and inferred resources of 48.3 Moz AgEq at 476 g/t AgEq.
Additionally, Vizsla granted 6,050,000 stock options and 775,000 restricted share units to its directors, officers, employees, and consultants, subject to TSX Venture Exchange and NYSE American approval.
Vizsla Silver Corp. (NYSE: VZLA, TSXV: VZLA) has announced key dates and details for the potential spinout of Vizsla Royalties Corp. If approved at the Special Meeting on June 17, 2024, the final court order will be sought on June 24, 2024. Shareholders of record on June 21, 2024, will receive one-third of a Spinco Share and one-third of a Spinco Warrant for each Vizsla Silver Share held. Spinco Warrants will allow purchasing Spinco Shares at $0.05 until the earlier of 120 days post-listing on TSXV or December 31, 2025. Vizsla Silver shareholders will own approximately 45% of Spinco post-arrangement. Spinco aims to list shares and warrants on TSXV and will undertake several post-closing steps, including a $3.5M loan from Vizsla Silver and a $3M private placement.
Vizsla Silver Corp. (NYSE: VZLA, TSX-V: VZLA) has announced a special shareholder meeting on June 17, 2024, to approve the spinout of Vizsla Royalties Corp. (Spinco). Shareholders will receive one-third of a Spinco share and one-third of a Spinco warrant per Vizsla Silver share, with the warrant exercisable at $0.05 until December 31, 2025. Approval requires two-thirds of the shareholder votes. If approved, the spinout is expected to close by June 24, 2024.
Post-Arrangement, Vizsla shareholders will hold 45% of Spinco, while Vizsla retains 55%. Spinco has applied for TSXV listing, subject to fulfilling listing requirements. Post-closing steps include loan settlements, an additional $3.5M loan from Vizsla, Spinco’s buyback rights, a $3M private placement, and a 1-for-10 share consolidation.
Vizsla Silver Corp. (NYSE: VZLA) reported results from 16 new drillholes targeting the Napoleon Vein at its Panuco silver-gold project in Mexico. Highlights include several high-grade silver and gold intercepts, such as 2,561 g/t AgEq over 2.40 meters in hole NP-24-431 and 4,533 g/t AgEq over 1.30 meters in hole NP-24-429. The ongoing 30,000-meter drill program aims to expand and convert resources. Drilling has shown excellent continuity, expanding known high-grade zones, and revealing new mineralized areas like the El Molino Vein. These results are expected to support resource conversion as Vizsla prepares for a preliminary economic assessment in early Q3.
Vizsla Silver Corp. reported additional high-grade intercepts at the La Luisa Vein in its Panuco project in Mexico. The results from six new drillholes demonstrated continuity of high-grade mineralization, with impressive grades of silver, gold, lead, and zinc. The ongoing exploration campaign aims to expand and convert near-surface mineralization at La Luisa. The company plans to test potential feeder zones soon and refine the project ahead of the maiden project PEA in Q3 2024.
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