Vizsla Silver Announces Resumption of Field Work Activities at Its Panuco Project in Mexico
VIZSLA SILVER ANNOUNCES RESUMPTION OF FIELD WORK
ACTIVITIES AT ITS PANUCO PROJECT IN MEXICO
NYSE: VZLA TSX: VZLA
VANCOUVER, BC
,
May 5, 2025
/CNW/ -
Vizsla Silver Corp.
(TSX: VZLA) (NYSE: VZLA) (
Frankfurt
: 0G3) ("
Vizsla Silver
" or the "
Company
") is
pleased to announce that it has resumed all field work activities at its flagship
Panuco
silver-gold Project located in
Western Mexico
. Ongoing
programs include test mine development, geotechnical drilling, exploration drilling, mapping and geophysical surveys.
"
With security conditions now normalized in the region we have resumed our on-site work programs at
Panuco
", commented
Michael Konnert
,
President and CEO. "
In connection with the re-start, all Vizsla Silver employees, contractors and consultants have completed a Health and Safety
refresher course and are back working on their respective project areas. Advancement of the underground test mine continues with no material
impact on schedule and budget. The portal box cut is complete, and ramp development is progressing. Regarding exploration, we have been able
to use this downtime to assess our recently announced discovery at Animas and optimize the current exploration strategy. This is supported by
ongoing mapping and geophysics around the Copala Resource to prioritize target areas with similar characteristics across the district. Looking
ahead, we anticipate consistent news flow over the coming weeks and months as we continue to advance test mine development and progress
through the exploration programs. With two exploration rigs turning, and several upcoming potential catalysts including a Feasibility Study, Vizsla
Silver is well funded and well positioned to advance Panuco Project 1 and potentially locate Project #2 in the second half of the year
."
About the Panuco Project
The newly consolidated
Panuco
silver-gold project is an emerging high-grade discovery located in southern
Sinaloa, Mexico
, near the city of Mazatlán.
The 7,189.5-hectare, past producing district benefits from over 86 kilometres of total vein extent, 35 kilometres of underground mines, 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.
On
January 6, 2025
, the Company announced an updated mineral resource estimate for
Panuco
which includes an estimated in-situ combined
measured and indicated mineral resource of 222.4 Moz AgEq and an in-situ inferred resource of 138.7 Moz AgEq (please refer to Vizsla Silver's press
release dated
January 6
, 2025).
About Vizsla Silver
Vizsla Silver is a Canadian mineral exploration and development company headquartered in
Vancouver, BC
, focused on advancing its flagship, 100%-
owned
Panuco
silver-gold project located in
Sinaloa, Mexico
. The Company recently completed a Preliminary Economic Study for
Panuco
in
July 2024
which highlights 15.2 Moz AgEq of annual production over an initial 10.6-year mine life, an after-tax NPV5% of
US$1.1B
, 86% IRR and a 9-month
payback at
US$26
/oz Ag and
US$1,975
/oz Au. Vizsla Silver aims to become the world's leading silver company by implementing a dual track
development approach at
Panuco
, advancing mine development, while continuing district scale exploration through low-cost means.
Quality Assurance / Quality Control
Drill core samples were shipped to ALS Limited in
Zacatecas
,
Zacatecas, Mexico
and in
North Vancouver, Canada
for sample preparation and for
analysis at the ALS laboratory in
North Vancouver
and rock samples were shipped to SGS Lab in
Durango Mexico
for sample preparation and
analysis. The ALS Zacatecas,
North Vancouver
facilities and SGS lab are ISO 9001 and ISO/IEC 17025 certified. Silver and base metals were
analyzed using a four-acid digestion with an ICP finish and gold was assayed by 30-gram fire assay with atomic absorption ("AA") spectroscopy finish.
Over limit analyses for silver, lead and zinc were re-assayed using an ore-grade four-acid digestion with AA finish.
Control samples comprising certified reference samples, duplicates and blank samples were systematically inserted into the sample stream and
analyzed as part of the Company's quality assurance / quality control protocol.
Qualified Person
In accordance with NI 43-101,
Jesus Velador
, Ph.D. MMSA QP, Vice President of Exploration, is the Qualified Person for the Company and has
reviewed and approved the technical and scientific content of this news release.
Information Concerning Estimates of Mineral Resources
The scientific and technical information in this news release was prepared in accordance with NI 43-101 which differs significantly from the
requirements of the U.S. Securities and Exchange Commission (the "SEC"). The terms "measured mineral resource", "indicated mineral resource" and
"inferred mineral resource" used herein are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum
Standards (the "CIM Definition Standards"), which definitions have been adopted by NI 43-101. Accordingly, information contained herein providing
descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar information made public by other U.S. companies
subject to
the United States
federal securities laws and the rules and regulations thereunder.
You are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards,
"inferred mineral resources" are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological
evidence and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral
resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. However,
it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration.
Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases.
Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable. Disclosure of "contained
ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that
does not constitute "reserves" by SEC standards as in place tonnage and grade without reference to unit measures.
Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards in the SEC Industry Guide 7. Effective
February 25, 2019
, the SEC adopted new mining disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933,
as amended (the "SEC Modernization Rules"), with compliance required for the first fiscal year beginning on or after
January 1, 2021
. The SEC
Modernization Rules replace the historical property disclosure requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC
Modernization Rules, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred mineral
resources". Information regarding mineral resources contained or referenced herein may not be comparable to similar information made public by
companies that report according to U.S. standards. While the SEC Modernization Rules are purported to be "substantially similar" to the CIM
Definition Standards, readers are cautioned that there are differences between the SEC Modernization Rules and the CIM Definitions Standards.
Accordingly, there is no assurance any mineral resources that the Company may report as "measured mineral resources", "indicated mineral
resources" and "inferred mineral resources" under NI 43-101 would be the same had the Company prepared the resource estimates under the
standards adopted under the SEC Modernization Rules.
Website:
www.vizslasilvercorp.ca
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain "Forward–Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of
1995 and "forward–looking information" under applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe",
"estimate", "expect", "target", "plan", "forecast", "may", "would", "could", "schedule" and similar words or expressions, identify forward–looking
statements or information. These forward–looking statements or information relate to, among other things: the impact on the work pause on the
Company's budget and work program planned for 2025.
Forward–looking statements and forward–looking information relating to any future mineral production, liquidity, enhanced value and capital markets
profile of Vizsla Silver, future growth potential for Vizsla Silver and its business, and future exploration plans are based on management's reasonable
assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of trends, current
conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may
prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold, and other metals; costs of exploration
and development; the estimated costs of development of exploration projects; Vizsla Silver's ability to operate in a safe and effective manner and its
ability to obtain financing on reasonable terms.
These statements reflect Vizsla Silver's respective current views with respect to future events and are necessarily based upon a number of other
assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements
to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward–looking statements
or forward-looking information and Vizsla Silver has made assumptions and estimates based on or related to many of these factors. Such factors
include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the
Company's mining activities in
Mexico
; regulatory, consent or permitting delays; risks relating to reliance on the Company's management team and
outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all risks, on a commercially
reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow from operations; risks relating to project
financing and equity issuances; risks and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources, metallurgical
recoveries and capital and operating costs of such projects; contests over title to properties, particularly title to undeveloped properties; laws and
regulations governing the environment, health and safety; operating or technical difficulties in connection with mining or development activities;
employee relations, labour unrest or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's
ability to successfully integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or
grades of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company;
litigation risk; and the factors identified under the caption "Risk Factors" in Vizsla Silver's management discussion and analysis. Readers are cautioned
against attributing undue certainty to forward–looking statements or forward-looking information. Although Vizsla Silver has attempted to identify
important factors that could cause actual results to differ materially, there may be other factors that cause results not to be anticipated, estimated or
intended. Vizsla Silver does not intend, and does not assume any obligation, to update these forward–looking statements or forward-looking
information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than as
required by applicable law.
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For further information:
Contact Information: For more information and to sign-up to the mailing list, please contact: Michael Konnert, President and
Chief Executive Officer, Tel: (604) 364-2215, Email: [email protected]
CO: Vizsla Silver Corp.
CNW 06:00e 05-MAY-25