Vizsla Silver Corp (VZLA)

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VIZSLA SILVER AGREES TO ACQUIRE NEWLY CONSOLIDATED PAST-PRODUCING SILVER DISTRICT IN THE EMERGING SILVER-GOLD-RICH PANUCO - SAN DIMAS CORRIDOR IN MEXICO
PR Newswire
Thu, Mar 28, 2024, 9:42 AM EDT17 min read

VANCOUVER, BC, March 28, 2024 /PRNewswire/ - Vizsla Silver Corp. (TSXV: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) ("Vizsla Silver" or the "Company") is pleased to announce that it has entered into an agreement to acquire the past-producing La Garra-Metates district (the "La Garra-Metates District" or "La Garra") situated in the heart of the silver-gold-rich Panuco – San Dimas corridor. Reconnaissance work conducted by Vizsla Silver's geologists shows the presence of at least two vein systems with respective strike lengths of 2.6 km and 1.8 km carrying significant silver and gold grades.

Highlights

Large property package at 16,962 Ha (more than 2x the area of the Company's Panuco project (the "Panuco Project")).

While this district has seen past production dating back centuries, the La Garra-Metates District has seen minimal exploration and no drilling.

Vizsla Silver's sampling demonstrated multi-kilo silver equivalent grades over several kilometers of strike.

Epithermal vein systems trending N-NNW in a geological setting akin that of the Panuco Project and First Majestics Silver Corp.'s San Dimas project ("San Dimas").

Potential for high-grade shoots along-strike and at depth on two known vein systems with estimated strike length of 2.6 km and 1.8 km, respectively.

Significant potential to discover new veins given the underexplored nature of the district.

The La Garra-Metates District has been acquired for less than 3% of Vizsla Silver's market capitalization.

"Vizsla Silver has agreed to acquire another highly prospective precious metals rich district in the Sinaloa Silver Belt, marking the first time that the La Garra-Metates District has ever been in a public company." Stated Michael Konnert, President, and CEO. "The consolidation and acquisition of a vastly under-explored, past-producing district in the state of Sinaloa is an excellent addition to our portfolio and demonstrates our strength in the region. Similar to our flagship Panuco Project, which represents one of the largest, undeveloped, high-grade silver primary assets globally, La Garra hosts sub-vertical structures reminiscent of Vizsla Silver's Napoleon vein, as well as flat-lying structures like Copala. Additionally, the La Garra-Metates District is located ~32 kilometers to the south of First Majestic Silver's San Dimas Mine, a prolific precious metals producer and is one of nine billion-ounce silver equivalent districts in Mexico. Vizsla Silver has a long-term view of its role in the silver industry and within this region of Mexico. We believe we have the potential to build a multi-generational asset base and become a globally significant producer of silver in Sinaloa. While Vizsla Silver's focus continues to be to develop the Panuco-Copala district while exploring for new centers of high-grade mineralization, this acquisition allows for new major discoveries in the future and a growing pipeline of potential production as we continue to generate a dominant footprint in this emerging, but globally significant silver-belt."

https://finance.yahoo.com/news/vizsla-silver-agrees-acquire-newly-134200429.html