Vizsla Silver Announces Major Increase in Mineral Resources
NYSE: VZLA TSX: VZLA
Vizsla Silver Corp. is thrilled to detail the updated mineral resource estimates for its flagship, fully owned Panuco silver-gold project. Located in a promising district, the project has experienced a remarkable boost in known mineral resources.
Highlights from the Updated Mineral Resource Estimate
The latest assessments show a significant rise in measured and indicated mineral resources, elevating the figures from 155.8 million ounces (Moz) to an astonishing 222.4 Moz AgEq. A total of 46 Moz AgEq was added in new measured resources, alongside an increase of 176 Moz AgEq within the indicated resources.
Key Comparisons to Previous Estimates
- 43% increase in combined measured and indicated mineral resources.
- Noteworthy increases in grades: A 9.4% rise in the combined measured and indicated grade for the Copala area and a 4.5% increase in global indicated grades.
- The inferred mineral resources decreased by 18%, primarily due to conversions to indicated resources.
Valuable Insights on the Mineral Resources
The combined measured and indicated resources of the Panuco project are now estimated at 12.96 million tonnes (Mt) grading 307 grams per tonne (g/t) silver, showcasing a wealth of valuable minerals. Specifically, the project holds an incredible average grade of 534 g/t AgEq.
Composition of the Updated Estimates
The updated resources boast substantial quantities of other key mineral resources, including:
- Measured resources containing 28.6 Moz of silver and 214 thousand ounces (koz) of gold.
- Indicated resources that include 99.2 Moz of silver and 822 koz of gold.
Focus on Exploration Costs
The all-in exploration cost to date stands at approximately USD 0.41 per ounce AgEq. This successful effort situates Vizsla Silver in a competitive position as it continues to explore the immense potential within the district.
Future Plans and Expectations
The updated mineral resource estimate is primarily based on the western area of the Panuco project and includes insights from 157 new infill and expansion holes analyzed. The Company has future initiatives aimed at further resource conversions, which align with ongoing development and exploration activities expected through 2025.
Company Commentary
Michael Konnert, President and CEO of Vizsla Silver, expressed his delight at these results, emphasizing the potential for ongoing expansion due to the excellent continuity observed throughout the mineralized zones.
About the Panuco Project
The Panuco silver-gold project represents a prime opportunity for growth given its historical production background and extensive vein system. As the Company advances its operations towards production, it is simultaneously undertaking targeted exploration efforts to enhance its resource estimates further.
Frequently Asked Questions
What was the size increase in mineral resources at Panuco?
The mineral resources at Panuco have increased from 155.8 Moz AgEq to 222.4 Moz AgEq, a remarkable 43% growth.
What factors led to the reduction in inferred resources?
The reduction in inferred resources was mainly due to the successful conversion of these resources into indicated categories, based on extensive drilling efforts.
What minerals does the updated estimate cover?
The updated estimate includes significant amounts of silver, gold, lead, and zinc.
When can we expect further updates on exploration results?
Further updates regarding exploration results are anticipated in the second half of 2025 as ongoing efforts continue to demonstrate success.
Who conducted the updated mineral resource estimate?
The estimate was conducted by Allan Armitage, Ph.D., who is considered an independent Qualified Person as per NI 43-101.
