Vizsla Silver (TSX: VZLA) has started the year off strong with an updated mineral resource estimate for its flagship Panuco project in Sinaloa, Mexico. The update has resulted in a substantial 43% increase in measured and indicated mineral resources at the project, following the conversion of inferred resources to indicated.
The update has seen the growth of measured and indicated mineral resources to a combined 222.4 million ounces of silver equivalent. Inferred resources meanwhile have fallen by 18%, declining from 169.6 million silver equivalent ounces to 138.7 million silver equivalent ounces.
Highlights from the resource estimate include:
- 2.24 million tonnes of measured resources, at an average grade of 640 g/t silver equivalent
- Containing 28.6 million ounces of silver, 214,000 ounces gold, 3,300 tonnes lead, 7,900 tonnes zinc (46.1 million ounces silver equivalent)
- 10.72 million tonnes of indicated resources, at an average grade of 512 g/t silver equivalent
- Containing 99.2 million ounces of silver, 822,000 ounces of gold, 31,600 tonnes lead and 102,300 tonnes zinc (176.3 million ounces of silver equivalent)
- 10.50 million tonnes of inferred resources, at an average grade of 412 g/t silver equivalent
- Containing 73.6 million ounces of silver, 660,000 ounces of gold, 31,200 tonnes lead and 106,200 tonnes zinc (138.7 million ounces silver equivalent)
The resource estimate is said to cover less than 10% of the total project area, with a total of eleven veins covered under the the resource estimate. Total all-in exploration costs to date are said to amount to just $0.41 per silver equivalent ounce discovered.
“Going forward, we continue to employ a dual track development approach at Panuco, advancing the Project through development towards production in the back half of 2027, while continuing district scale exploration through low-cost means. Ongoing initiatives include a fully funded and permitted test mine program, Feasibility Study and a 10,000-metre discovery-based drill campaign. This is a remarkable achievement that comes as a result of hard work and perseverance,” commented Michael Konnert, CEO of Vizsla.
Vizsla Silver last traded at $2.46 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
