Vizsla Silver Corp. [TSXV-VZLA] said Mining Hall of Fame member Eduardo Luna has agreed to join the company’s board of directors. “Eduardo has over 40 years of experience in the mining industry and has recently retired from the board of Wheaton Precious Metals Corp. (TSX-WPM, NYSE-WPM),’’ the company said in a press release.
“We are extremely honoured to welcome Eduardo Luna to the Vizsla board,’’ said Vizsla President and CEO Michael Konnert. “Eduardo is one of the most accomplished and experienced miners in all of Mexico. He was instrumental in unlocking value for Luismin, Goldcorp and Silver Wheaton at the world-class San Dimas mine, which continues to be one of the country’s top producers of silver and gold.’’
Luna is currently Chairman of the Board of directors of Rochester Resources Ltd. [TSXV-RCT], a junior natural resources company with assets in Mexico.
Vizsla shares edged up 0.735% or $0.01 to $1.37 on Wednesday and trade in a 52-week range of $2.24 and $1.26.
Vizsla is working to develop its 100%-owned Panuco silver-gold epithermal vein project in Mexico. “With San Dimas representing a direct analogue to Panuco, located only 80 kilometres to the north, Eduardo brings a wealth of applicable experience and wisdom to support the next phase of development at the Panuco district,’’ Konnert said.
The newly-consolidated Panuco gold-silver project is an emerging high-grade discovery located in southern Sinaloa, near the city of Mazatlan.
Back in September 13, 2019, Vizsla snapped up Canam Alpine Ventures Ltd., a company that held options to acquire a 100% interest in the Panuco mining concessions and related infrastructure and processing facilities. Canam could exercise its options by completing US$3.4 million in work commitments and making payments of US$43 million over a 72-month period.
The option allowed for the acquisition of over 75 kilometres of total vein extent, a 500 ton-per-day mill, 35 kilometres of underground mines, tailings facilities, roads, power and permits.
The Panuco project hosts an estimated in-situ indicated resource of 104.8 million ounces of silver equivalent (AgEq). On top of that is an in-situ inferred resource of 114.1 million ounces of AgEq. To date, Viszla has completed over 310,000 metres of drilling at Panuco leading to the discovery of several new high-grade veins.
This year, the company budgeted for 90,000 metres of resource/discovery-based drilling designed to upgrade and expand the mineral resource, as well as test other high priority targets across the district.
Vizsla is a company that was formed to acquire metal projects in Canada and Mexico. Its portfolio includes the 20,265-hectare Blueberry Project, which lies on a copper-porphyry trend southwest of Houston, British Columbia.