Vizsla Silver Provides an Update ON the Copala Test MINE at Its Panuco Project IN Mexico
VIZSLA SILVER PROVIDES AN UPDATE ON THE COPALA TEST
MINE AT ITS PANUCO PROJECT IN MEXICO
VANCOUVER, BC
,
June 18, 2025
/CNW/ -
Vizsla Silver Corp. (TSX: VZLA) (NYSE: VZLA) (
Frankfurt
: 0G3
) ("
Vizsla Silver
" or the "
Company
") is
pleased to provide an update on the ongoing development of its
Copala
test mine at its 100%-owned
Panuco
silver-gold project, located in
Sinaloa,
Mexico
.
The test mine program marks a major step forward in de-risking the Panuco Project, as the Company transitions from exploration to development.
The
Copala
portal, established as part of this program, is expected to serve as the primary access to underground mining operations following a
construction decision.
"We're now testing underground at
Panuco
and executing the test mine development according to plan, at the historic
Copala
district,"
commented
COO
Simon Cmrlec
.
"Our crews are performing well, advancing safely, installing all required ventilation and ground support, and we are meeting
planned development rates. Our team is currently focused on optimising advance rates and testing contractor capabilities.
This portal will ultimately become the main access for future mining. Every meter brings us closer to the 10,000-tonne bulk sample location and
positions us for efficient resource conversion/expansion drilling from underground, and for the ultimate mine development and ramp-up. We are
on track to complete the fully funded test mine program by year-end."
Test Mine Progress
Vizsla Silver has now advanced approximately 125 metres along the
Copala
decline. The decline is advancing in favorable ground conditions at a
15% grade with dimensions of 5.5 metres wide by 5.5 metres tall. A 10,000-tonne bulk sample will be taken from the 460 level which is
approximately 70 metres vertically below the surface. The decline is currently progressing at a rate of 4 metres per day, with drilling and mucking
currently being optimised to achieve two blasts per day and advance rates of around 8 metres per day.
Image 1: Photo of Copala test mine ramp development. (CNW Group/Vizsla Silver Corp.)
Bulk Sampling & Technical Program
Upon reaching the ore zone, Vizsla Silver will extract a 10,000-tonne bulk sample and stockpile it on surface without impacting the environment by
utilising previously disturbed areas. This material will ultimately be used for:
Paste
fill and cemented rockfill (CRF) testing to support backfill planning.
Rock competency and structural consistency analysis to optimize mine design and cost models related to support requirements.
Grade reconciliation with the block model.
Technical Observations & Future Opportunities
The Copala test mine portal is situated approximately 300 metres north of the proposed processing facility. Waste stockpiles and ore staging
areas are located within 200 metres of the portal, with all current activities using existing roads and confined to previously disturbed areas from
historic mining.
Underground access will enable low-cost drilling from underground stations, supporting the conversion of existing resources to higher-confidence
categories. Several high-priority targets have already been outlined and are expected to be tested as the decline advances.
Mapped parallel structures on the surface highlight near-mine exploration upside.
The onsite workforce continues to grow, with an emphasis on hiring from the local community. Newly constructed infrastructure – including first aid
facilities, staff buildings, and workshops – not only supports operational efficiency, but also enhances safety protocols and emergency response
capabilities.
Site Layout (CNW Group/Vizsla Silver Corp.)
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'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.
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.
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; 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 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's management discussion and
analysis. Readers are cautioned against attributing undue certainty to forward–looking statements or forward-looking information. Although Vizsla 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 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], Website: www.vizslasilvercorp.ca
CO: Vizsla Silver Corp.
CNW 08:12e 18-JUN-25