VIZSLA SILVER EMBARKS ON EXPANSIVE ACQUISITION WITHIN MEXICO’S SILVER-LOADED PANUCO – SAN DIMAS CORRIDOR
Vizsla Silver has made a strategic move to expand its footprint in Mexico’s fertile Sinaloa Silver Belt by acquiring the La Garra-Metates District, a move that represents a significant addition to the company’s asset portfolio at a cost less than 3% of its market capitalization. This acquisition signifies the company’s first venture into managing a historically productive silver district under a public enterprise. According to the company’s President and CEO, this area not only complements their existing portfolio but underlines Vizsla Silver’s commitment and growing dominance in the globally significant silver-rich region of Mexico.
The La Garra-Metates District consists of 16 claims spanning 16,962 Ha, nestled in the burgeoning silver and gold-rich Panuco – San Dimas corridor. This region has been privately held and largely unexplored due to limited accessibility and exploration activities for the past approximately 60 years, offering a ripe opportunity for Vizsla Silver’s exploration efforts. The area is characterized by N-NNW trending silver-gold-rich veins that mirror the geological settings of Vizsla Silver’s flagship Panuco Project.
Diving into the specifics, the La Garra-Metates District hosts the La Garra and Metates vein systems, featuring approximately 2.6 km and 1.8 km of known strike lengths, respectively. These vein systems exhibit high-grade potential, as evidenced by a five-day site visit conducted by Vizsla Silver, which resulted in the collection of 37 samples that confirmed significant silver equivalent grades.
In alignment with the Acquisition Agreement, Vizsla Silver is set to navigate a series of financial commitments, including cash payments and the issuance of common shares to the Sellers over a span of 24 months post-closing. Moreover, a Royalty Agreement stipulates the grant of a 1% net smelter returns royalty (NSR) on the district to the Sellers, with Vizsla holding repurchase rights.
Considering the strategic significance of the La Garra-Metates District within the Panuco – San Dimas corridor, Vizsla Silver is poised to undertake an extensive exploration and development venture. With the project residing in close proximity to First Majestic Silver’s prolific operation, the acquisition heralds a promising addition to Vizsla Silver’s endeavors in Mexico.
About the Panuco Project, Vizsla Silver’s flagship initiative, it represents a past-producing district with over 86 kilometres of vein extent. The project is currently undergoing an ambitious exploration and development phase, aiming to substantiate its status as a major silver and gold resource.
Vizsla Silver’s strategic acquisition of the La Garra-Metates District is more than an expansion of their asset portfolio; it’s a statement of the company’s long-term commitment to becoming a leading figure in the silver industry. With a systematic approach to exploration and development, alongside a keen eye for untapped opportunities, Vizsla Silver is firmly on a path toward uncovering the full potential of the Panuco – San Dimas corridor’s silver and gold wealth.
Quality Assurance / Quality Control protocols are in place to ensure the integrity of exploration data, including the use of certified reference materials, duplicates, and blank samples. For the detailed exploration and resource estimates, Vizsla Silver adheres to the standards set by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), which are in accordance with the Canadian Securities Administrators’ National Instrument 43-101.
It is important to note that while this exploration and potential expansion endeavor paints a promising future for Vizsla Silver, potential investors and stakeholders are reminded that exploration projects come with risks and uncertainties. Mineral resources that are not mineral reserves do not have demonstrated economic viability, and as such, there is no guarantee that the explored resources will be converted into economically viable mining reserves.
Vizsla Silver’s proactive approach to expanding its portfolio in Mexico’s silver-rich regions underscores the company’s vision and determination to establish a strong presence in the global silver market. As exploration progresses and the potential of the La Garra-Metates District unfolds, Vizsla Silver continues to set the stage for a future as a prominent player in the silver industry.
