The Acquisition was completed pursuant to a share purchase agreement dated March 27, 2024. The sellers are arm’s length to Vizsla Silver.
The Company has agreed to make cash payments in an aggregate of
The sellers have agreed that
The Company has paid an aggregate of
The Company has also granted the sellers
The Company has granted Asteria Mining Services S.A.P.I. de C.V., an arm’s length Mexican company, a
About the La Garra-Metates District
The La Garra-Metates District area contains N-NNW-trending silver-gold-rich veins in a geological setting akin that of the Panuco Project and
In December 2023, Vizsla Silver conducted a five-day site visit and collected 37 samples on vein outcrops and underground pillars on La Garra and
Sample # |
Vein |
Area |
Sample Length |
Ag |
Au |
Pb |
Zn |
AgEq |
||
(m) |
(g/t) |
(g/t) |
% |
% |
(g/t) |
|||||
G566682 |
El Orito |
La Garra |
Dump |
22 |
7.00 |
0.05 |
0.02 |
495 |
||
G566683 |
El Orito |
La Garra |
Grab |
1 |
0.01 |
0.00 |
0.00 |
1 |
||
G566684 |
Rosita |
La Garra |
0.50 |
70 |
2.22 |
0.44 |
0.42 |
243 |
||
G566686 |
Rosita |
La Garra |
0.30 |
76 |
1.70 |
0.16 |
0.08 |
193 |
||
G566687 |
Rosita |
La Garra |
1.00 |
5 |
0.06 |
0.02 |
0.25 |
18 |
||
G566688 |
FW La Garra |
La Garra |
0.30 |
25 |
0.64 |
0.07 |
0.05 |
70 |
||
G566689 |
FW La Garra |
La Garra |
0.90 |
4 |
0.05 |
0.01 |
0.05 |
9 |
||
G566691 |
FW La Garra |
La Garra |
0.50 |
3 |
0.03 |
0.01 |
0.05 |
7 |
||
G566692 |
La Garra |
La Garra |
0.60 |
68 |
0.83 |
0.08 |
0.14 |
127 |
||
G566693 |
La Garra |
La Garra |
0.75 |
11 |
0.13 |
0.01 |
0.05 |
21 |
||
G566694 |
La Garra |
La Garra |
Dump |
110 |
1.71 |
0.10 |
0.09 |
224 |
||
G566696 |
|
La Garra |
Grab |
6 |
0.02 |
0.00 |
0.00 |
7 |
||
G566697 |
|
La Garra |
1.00 |
5 |
0.02 |
0.00 |
0.00 |
6 |
||
G566698 |
La Gigante |
La Garra |
1.10 |
87 |
0.49 |
0.00 |
0.01 |
115 |
||
G566699 |
La Gigante |
La Garra |
2.30 |
343 |
2.04 |
0.01 |
0.01 |
457 |
||
G566700 |
|
La Garra |
2.00 |
847 |
2.29 |
0.09 |
0.08 |
948 |
||
G566751 |
|
La Garra |
0.90 |
1,156 |
12.30 |
0.02 |
0.04 |
1,908 |
||
G566752 |
FW La Garra |
La Garra |
0.70 |
52 |
0.60 |
0.45 |
0.27 |
112 |
||
G566753 |
La Brillosa |
La Garra |
0.60 |
4 |
0.07 |
0.07 |
0.00 |
10 |
||
G566754 |
Nivel 4 |
|
1.30 |
641 |
3.08 |
0.12 |
0.17 |
814 |
||
G566756 |
|
|
Grab |
402 |
2.50 |
0.02 |
0.01 |
543 |
||
G566757 |
Veta La Yaqui |
|
Dump |
627 |
10.10 |
0.39 |
0.51 |
1,295 |
||
G566758 |
Veta La Yaqui |
|
1.30 |
36 |
0.39 |
0.01 |
0.01 |
60 |
||
G566759 |
Veta La Yaqui |
|
2.50 |
99 |
0.52 |
0.01 |
0.03 |
128 |
||
G566760 |
Veta Petra |
|
2.00 |
885 |
6.03 |
0.02 |
0.02 |
1,231 |
||
G566761 |
Veta Petra |
|
1.10 |
56 |
0.55 |
0.00 |
0.00 |
89 |
||
G566762 |
Veta Petra |
|
0.90 |
17 |
0.19 |
0.00 |
0.00 |
29 |
||
G566763 |
Mina La Juanita |
|
0.60 |
203 |
2.40 |
0.01 |
0.01 |
351 |
||
G566764 |
Mina La Juanita |
|
1.20 |
498 |
4.33 |
0.01 |
0.00 |
756 |
||
G566766 |
Mina |
|
1.00 |
385 |
2.75 |
0.01 |
0.01 |
544 |
||
G566767 |
Mina |
|
1.00 |
6 |
0.05 |
0.00 |
0.00 |
9 |
||
G566768 |
Mina |
|
2.00 |
6 |
0.05 |
0.00 |
0.01 |
9 |
||
G566769 |
Mina |
|
2.00 |
4 |
0.21 |
0.00 |
0.01 |
18 |
||
G566771 |
Mina |
|
1.80 |
4 |
0.02 |
0.00 |
0.01 |
5 |
||
G566772 |
|
|
0.30 |
71 |
0.50 |
0.01 |
0.00 |
100 |
||
G566773 |
Manto Gaby |
|
1.00 |
226 |
2.08 |
0.00 |
0.00 |
351 |
||
G566774 |
|
|
1.00 |
1 |
0.01 |
0.00 |
0.00 |
1 |
Table 1: Assays from rock samples collected on veins at La Garra.
Note: AgEq = Ag g/t x Ag rec. + ((Au g/t x Au Rec x Au price/gram)+(Pb% x Pb rec. X Pb price/t) + (Zn% x Zn rec. X Zn price/t))/Ag price/gram. Metal price assumptions are |
About the Panuco Project
The newly consolidated
The district contains intermediate to low sulfidation epithermal silver and gold deposits related to siliceous volcanism and crustal extension in the Oligocene and Miocene. Host rocks are mainly continental volcanic rocks correlated to the Tarahumara Formation.
On January 8, 2024, the Company announced an updated mineral resource estimate for
About Vizsla Silver
Vizsla Silver is a Canadian mineral exploration and development company headquartered in
Qualified Person
In accordance with NI 43-101, Jesus Velador, Ph.D. MMSA QP., Vice President of Exploration, is the Qualified Person for the Company and has reviewed and approved the technical and scientific content of this news release.
Information Concerning Estimates of Mineral Resources
The scientific and technical information in this news release was prepared in accordance with NI 43-101 which differs significantly from the requirements of the
You are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards, “inferred mineral resources” are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable. Disclosure of “contained ounces” in a resource is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measures.
Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards in the SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted new mining disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (the “SEC Modernization Rules”), with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules replace the historical property disclosure requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC Modernization Rules, the SEC now recognizes estimates of “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources”. Information regarding mineral resources contained or referenced herein may not be comparable to similar information made public by companies that report according to
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release includes certain “Forward–Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward–looking information” under applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule” and similar words or expressions, identify forward–looking statements or information. These forward–looking statements or information relate to, among other things, the exploration, development, and production at the Panuco Project.
Forward–looking statements and forward–looking information relating to any future mineral production, liquidity, enhanced value and capital markets profile of Vizsla Silver, future growth potential for Vizsla Silver and its business, and future exploration plans are based on management’s reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management’s experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances, but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold, and other metals; costs of exploration and development; the estimated costs of development of exploration projects; Vizsla Silver’s ability to operate in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Vizsla Silver’s respective current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward–looking statements or forward-looking information and Vizsla Silver has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the Company’s dependence on one mineral project; precious metals price volatility; risks associated with the conduct of the Company’s mining activities in
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SOURCE Vizsla Silver Corp.