Vizsla Silver Acquires New Project In Mexico Adjacent To Panuco
Vizsla Silver (TSXV: VZLA) has expanded its land holdings dramatically in Mexico, adding 10,667 hectares of land claims to its portfolio this morning.
Referred to as the San Enrique prospect, the new project is found to the south and partially adjacent to Vizsla’s Panuco project along the Panuco-San Dimas corridor. The project is said to have been fully covered with LiDar and partially covered with aero-magnetic and radiometric surveys.
In terms of mineralization, San Enrique contains the southeast extensions of the Copala fault and the Cordon del Oro – Animas veins, as well as dome complexes. The project however has never been systematically mapped and prospected.
“With preliminary geophysics and LiDAR complete, we intend to move forward with regional recognizance-mapping and a stream-sediment geochemical survey to aid in ongoing drill targeting. Although Vizsla Silver remains committed to the near-term development of the advanced-stage Panuco-Copala district, this acquisition combined with the recently announced La Garra acquisition, further positions Vizsla Silver as a globally significant silver explorer-developer, with the potential to build a multi-generational asset base in Mexico,” commented CEO Michael Konnert.
READ: Vizsla Silver Sees Resource Estimate Grow To 155.8 Million Ounces Of Indicated Silver Equivalent
The new project was acquired for US$650,000, which is to be paid via the issuance of common shares. Shares issued are subject to a voluntary lockup, under which 12.5% of the shares will become free trading every three months once the mandatory four month hold period expires.
Vizsla Silver last traded at $1.92 on the TSX Venture.
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