Vizsla Silver Adds Unparalleled MINE- Building and Operating Expertise, Appoints Simon Cmrlec to the Role of COO
VIZSLA SILVER ADDS UNPARALLELED MINE-
BUILDING AND OPERATING EXPERTISE,
APPOINTS SIMON CMRLEC TO THE ROLE OF
COO
NYSE: VZLA TSX-V: VZLA
VANCOUVER, BC
,
Jan. 30, 2024
/CNW/ -
Vizsla Silver Corp.
(TSXV: VZLA) (NYSE:
VZLA) (
Frankfurt
: 0G3) ("
Vizsla Silver
" or the "
Company
") is pleased to announce Simon Cmrlec
will be joining Vizsla Silver as Chief Operating Officer ("
COO
"). Mr. Cmrlec is a highly experienced
senior engineer with over 30-years of industry experience who has been a director of Vizsla Silver
since its formation and has most recently held the position of Chief Operating Officer of Ausenco, a
global mining engineering and consulting firm. He has extensive experience in building mining
projects around the world and across a number of different commodities and will be tasked with
advancing Vizsla Silver's world-class
Panuco
silver-gold Project towards production, with the goal of
becoming one of the world's largest single-asset silver producers. Mr. Cmrlec commences the role
on
April 1, 2024
.
"
Simon has been involved with Vizsla Silver since its inception, preceding the acquisition of the
Panuco-Copala District
," commented
Michael Konnert
, President & CEO. "
His guidance as a
director has been invaluable in establishing the culture and direction of the Company. Now, we are
honoured to welcome him as the incoming Chief Operating Officer as we embark on the next stage
of development for the Panuco Project. We thank Martin for all of his contributions and wish him
the best in his future endeavours
."
"
I am delighted to work closely with Mike and our excellent Vizsla team as we de-risk and develop
the world's next tier one silver asset
," commented Simon Cmrlec. "
Projects that are as well
endowed as
Panuco
are rare and it's a privilege to be part of its future."
Mr. Cmrlec began his career with Western Mining Corporation (WMC) at its Olympic Dam Mine in
South Australia
where he held several technical and operations roles. He was an Owners
Representatives for the Olympic Dam Expansion Project (ODP) where he supported the design,
construction and commissioning of the Smelter and Hydrometallurgical facilities. Following the
completion of the ODP project Mr. Cmrlec joined Kvaerner and was involved in the construction and
commissioning of various base metals, iron ore and gold projects in the US,
South America
,
Middle
East
and
South Africa
. In 2001, he joined Inco on the Goro Nickel project in
New Caledonia
as the
Project Manager responsible for the Refinery facility. Mr. Cmrlec held a number of roles on the Goro
Nickel project including Senior Project Manager and Construction director in his eight years there.
Mr. Cmrlec joined Ausenco in 2009 as the Manager, Project Delivery before assuming the role of
President APAC/
Africa
. In 2015, Mr. Cmrlec moved to
Canada
and became Ausenco's President
North America before transitioning to President Americas in 2017 and the Chief Operating Officer in
2019.
Mr. Cmrlec graduated with a B.
Eng (Hons)
in Metallurgical Engineering from the Gartrell School of
Mining, Metallurgy and Applied Geology at the University of
South Australia
in 1994.
Mr. Cmrlec will replace
Martin Dupuis
, who is no longer with the Company. We want to thank Mr.
Dupuis for his many contributions, which have helped advance the
Panuco
project through its maiden
resource and two subsequent resource updates.
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 8, 2024
, the Company announced an updated mineral resource estimate for
Panuco
(the
"
Updated Mineral Resource
"). The Updated Mineral Resource includes an estimated in-situ
indicated mineral resource of 155.8 Moz AgEq and an in-situ inferred resource of 169.6 Moz AgEq.
An updated technical report is being prepared on the updated Mineral Resource Estimate in
accordance with National Instrument 43-101 –
Standards of Disclosure for Mineral Projects
and will
be available on the Company's website and SEDAR within 45 days of the date of announcement of
the Updated Mineral Resource.
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
. To date, Vizsla Silver has completed over 350,000 metres of drilling at
Panuco
leading to the discovery of several new high-grade veins. For 2024, Vizsla Silver is focused on de-
risking the resource base located in the western portion of the district ahead of a development
decision. Additionally, Vizsla Silver has budgeted +65,000 metres of resource/discovery-based
drilling designed to upgrade and expand the Project's mineral resource, as well as test other high
priority targets across the district.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
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 exploration, development, and
production at
Panuco
, including plans for resource/discovery-based drilling designed to upgrade and
expand the mineral resource.
Forward
looking statements and forward
looking information relating to any future mineral
production, liquidity, enhanced value and capital markets profile of Vizsla, future growth potential for
Vizsla 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; no escalation in the severity of public health crises; costs of
exploration and development; the estimated costs of development of exploration projects; Vizsla's
ability to operate in a safe and effective manner and its ability to obtain financing on reasonable
terms.
These statements reflect Vizsla'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; the ability of the communities in which the Company operates to
manage and cope with the implications of public health crises; the economic and financial
implications of public health crises to the Company; 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; the ongoing military conflict in
Ukraine
; general economic facts; and the factors
identified under the caption "Risk Factors" in Vizsla Silver's management discussion and analysis and
other public disclosure documents. 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.
SOURCE
Vizsla Silver Corp.
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For further 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], Website:
www.vizslasilvercorp.ca
CO: Vizsla Silver Corp.
CNW 08:00e 30-JAN-24