Vizsla Silver plans 37,000-metre drill program in Mexico
Vizsla Silver Corp. [VZLA-TSX, NYSE, 0G3 Frankfurt] has outlined its key objectives and milestones in 2025 saying it plans to complete at least 37,000 metres of drilling at the company’s flagship, 100%-owned Panuco silver-gold project in Sinaloa, Mexico.
That will include 12,000 metres of geotechnical drilling in support of a feasibility study, which is expected to be delivered in the second half of 2025.
The company is also planning for over 25,000 metres of continuing discovery-based and resource expansion drilling.
On Wednesday, Vizsla shares rose 1.42% or $0.04 to $2.84. The shares trade in a 52-week range of $3.31 and $1.44.
In his year-end summary, including the outlook for 2025, Vizsla Silver President and CEO Michael Konnert described 2024 as a “transformative year’’ for the company.
The newly-consolidated Panuco gold-silver project is an emerging high-grade discovery located in southern Sinaloa, near the city of Mazatlan.
A preliminary economic assessment for Panuco envisages a 3,300 tonnes per day production rate for the first three years, expanding to 4,000 tonnes per day in year four, producing silver-gold dore with an initial mine life of 10.6 years.
The PEA forsees life of mine average payable production of 15.2 million ounces of AgEq annually (9.2 million ounces of silver and 78,000 ounces of gold.
On January 6, 2025, the company announced an updated mineral resource estimate for Panuco, which includes an estimated in situ combined measured and indicated resource of 222.4 million ounces of AgEq and an in-situ inferred resource of 138.7 million ounces of AgEq
Vizsla recently launched a fully funded and fully permitted test mining and bulk sample program at Panuco.
The company said test mining will focus on underground ramp development, lateral access, and ore extraction from the 460-level zone on the Copala structure. Also, approximately 10,000 tonnes of high-grade material is expected to be mined as part of the development. This bulk sample material will be stockpiled on site and may be used for future metallurgical testing.
Speaking of the 37,000 plus metres of planned drilling, the company said two diamond drill rigs will be active on the property, with the ability to scale up depending on exploration success. Exploration drills will focus on priority targets proximal to the current resources in the west, as well as on other high-priority targets in the central and eastern portions of the district.
Key targets include the Copala structure, which remains open along strike to the north and downdip to the south. Vizsla said it intends to drill two near-surface targets in the second half of 2025 once the team completes detailed structural and alteration mapping along Copala, south of the old adit.
At the Napoleon area, the company plans to conduct resource expansion drilling along the hangingwall-4 vein (HW4), downdip to the east and along the 400-meter-wide gap in La Luisa vein between the current mineral resource area and the shallow drill holes located 500 metres to the north.