UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN
PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE
ACT OF 1934
For the month
of January 2025
Commission File
Number: 001-41225
VIZSLA SILVER CORP.
(Registrant)
Suite 700, 1090 West Georgia
Street
Vancouver, British Columbia
V6E 3V7 Canada
(Address
of Principal Executive Offices)
Indicate by check mark whether the Registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☐ Form 40-F ☒
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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VIZSLA SILVER CORP. |
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(Registrant) |
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Date:
January 6, 2025 |
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By |
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/s/ Michael Konnert |
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Michael Konnert |
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Chief Executive Officer |
EXHIBIT INDEX
EXHIBIT 99.1
VIZSLA SILVER ANNOUNCES 43% INCREASE IN MEASURED
AND INDICATED MINERAL RESOURCES AT PANUCO, INCLUDING 46 MOZ GRADING 640 G/T AGEQ IN FIRST MEASURED RESOURCE ESTIMATE
NYSE: VZLA
TSX: VZLA
VANCOUVER, BC, Jan. 6, 2025 /CNW/ - Vizsla
Silver Corp. (NYSE: VZLA) (TSX: VZLA) (Frankfurt: 0G3) ("Vizsla Silver" or the "Company") is pleased
to announce the results of an updated mineral resource estimate ("Updated Mineral Resource Estimate") for its flagship,
100% owned Panuco silver-gold project (the "Project" or "Panuco") located in Sinaloa, Mexico. The Updated
Mineral Resource Estimate was completed by Allan Armitage, Ph.D., P.Geo., of SGS Geological Services.
Highlights of the Updated Mineral Resource Estimate,
including a comparison to the previous mineral resource estimate released in January 2024:
| • | 43% increase in combined measured and indicated mineral
resources from 155.8 to 222.4 Moz AgEq |
| • | Added 46 Moz AgEq in new measured resources and 176
Moz AgEq in new indicated resources |
| • | 9.4% increase in combined measured and indicated grade
at Copala (580 g/t to 635 g/t AgEq) |
| • | 4.5% increase in global indicated grade (511 g/t to 534
g/t AgEq) |
| • | 18% decrease in inferred mineral resources from 169.6
to 138.7 Moz AgEq mostly due to conversion to indicated resources |
| • | 4.9% decrease in inferred grade (433 g/t to 412 g/t AgEq) |
Key Statistics:
| • | The Updated Mineral Resource represents less than 10%
of the known vein strike of the newly consolidated district |
| • | 91% of the value of the Updated Mineral Resource Estimate
is comprised of precious metals, including 56% from silver |
| • | A total of 11 epithermal veins were included in the
Updated Mineral Resource Estimate |
| • | Total all-in exploration cost of US$0.41/oz AgEq
discovered |
Combined Measured and Indicated Mineral Resources are
estimated at 12.96 million tonnes ("Mt") grading 307 grams per tonne ("g/t") silver, 2.49 g/t gold, 0.27% lead, and
0.85% zinc (222.4 million ounces ("Moz") silver equivalent ("AgEq") at 534 g/t AgEq). The Updated Mineral
Resource Estimate includes measured mineral resources of 28.6 Moz of silver, 214 thousand ounces ("koz") of gold, 3.3 kilotonnes
("kt") of lead, and 7.9 kt of zinc (46.1 Moz AgEq) and indicated mineral resources of 99.2 Moz of silver, 822 koz of
gold, 31.6 kt of lead, and 102.3 kt of zinc (176.3 Moz AgEq).
Inferred Mineral Resources are estimated
at 10.5 Mt grading 219 g/t silver, 1.96 g/t gold, 0.30% lead, and 1.01% zinc (412 g/t AgEq). The Updated Mineral Resource Estimate
includes inferred mineral resources of 73.6 Moz of silver, 660 koz of gold, 31.2 kt of lead, and 106.2 kt of zinc (138.7 Moz AgEq).
The Updated Mineral Resource Estimate is centred on
the western portion of Panuco, encompassing ~8.6 km of the known 86 km of cumulative vein strike in the district. The Updated Mineral
Resource Estimate includes 157 new infill/expansion holes (69,754 metres) completed by Vizsla Silver between September 2023 and September
2024. In total, the Updated Mineral Resource Estimate is based on a total drill database of 979 holes (372,685 metres) completed by Vizsla
Silver since November 2019.
"We are pleased to announce the fourth significant
resource update for the high-grade Panuco silver gold district," commented Michael Konnert, President and CEO. "This
update comes just four years after the initial discovery was made at Napoleon and represents only a snapshot in time as every vein included
in the global project resource remains open for further expansion."
"Drilling throughout 2024 focused on converting
resources within the Copala and Napoleon areas into higher confidence categories and was designed to in-fill previously reported intercepts
used for resource estimation in the Panuco Preliminary Economic Assessment published on July 24, 2024. Global Measured and Indicated resources
now stand at 222.4 Moz AgEq grading 534 g/t AgEq, representing a 43% increase in contained ounces and a 4.5% increase in average grade,
relative to the previous estimate. We are particularly excited to announce our first Measured Resource Estimate, containing 46 Moz at
an average grade of 640 g/t AgEq. The bulk of the Measured resource is located at Copala, in and around areas designated for the first
few years of mining. This update reflects the excellent mineralized continuity that exists at Copala. Reducing the space between drill
holes at Copala to 25 metres has resulted in a significantly higher-grade profile in the upper levels of the resource and PEA mine plan."
"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.
I want to thank everyone from the entire Vizsla team, including our contractors and local communities, and look forward to another successful
year in 2025."
Vizsla Silver will be hosting a webcast to discuss
the Updated Mineral Resource Estimate at 10:00am PT on Thursday, January 9, 2025. To register, please click here.
A technical report is being prepared on the Updated
Mineral Resource Estimate in accordance with National Instrument 43-101 ("NI-43-101") and will be available on the Company's
website and SEDAR within 45 days of the date of this release. The effective date of the Updated Mineral Resource Estimate is September
9, 2024.
Panuco Project Resource Summary (150 g/t AgEq cut-off)
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1Updated MRE |
2Previous MRE |
Variance |
Resource Class |
M&I |
Inferred |
Indicated |
Inferred |
M&I |
Inferred |
Tonnes (MT) |
12.96 |
10.50 |
9.50 |
12.20 |
3.46 |
-1.70 |
Au g/t |
2.49 |
1.96 |
2.41 |
1.93 |
0.08 |
0.03 |
Ag g/t |
307 |
219 |
289 |
239 |
17.84 |
-20.28 |
Pb % |
0.27 |
0.30 |
0.27 |
0.29 |
0.00 |
0.01 |
Zn % |
0.85 |
1.01 |
0.84 |
1.03 |
0.01 |
-0.02 |
AgEq (g/t) |
534 |
412 |
511 |
433 |
22.81 |
-21.13 |
AuEq (g/t) |
6.58 |
4.91 |
6.81 |
5.76 |
-0.23 |
-0.85 |
Au (koz) |
1,036 |
660 |
736 |
758 |
300 |
-98 |
Ag (koz) |
127,819 |
73,621 |
88,192 |
93,653 |
39,627 |
-20,032 |
Pb (kt) |
34.9 |
31.2 |
56.0 |
35.4 |
-21 |
-4 |
Zn (kt) |
110.2 |
106.2 |
79.9 |
125.3 |
30 |
-19 |
1AgEq (koz) |
222,362 |
138,711 |
155,841 |
169,647 |
66,521 |
-30,936 |
2AuEq (koz) |
2,739 |
1,654 |
2,076 |
2,261 |
663 |
-607 |
1Metal price assumptions are $26.00/oz silver, $1,975/oz gold, $2,425/t lead and $2,976/t zinc. |
2Metal price assumptions are $24.00/oz silver, $1,800/oz gold, $2,425/t lead and $2,976/t zinc. |
Panuco Project Measured, Indicated and Inferred
Mineral Resource Summary by Vein (150 g/t AgEq cut-off)
Vein |
Tonnes |
Average Grade |
Contained Metal |
Ag |
Au |
Pb |
Zn |
AgEq |
Au Eq |
Ag |
Au |
Pb |
Zn |
1AgEq |
2AuEq |
(Mt) |
(g/t) |
(g/t) |
( %) |
( %) |
(g/t) |
(g/t) |
(koz) |
(koz) |
(kt) |
(kt) |
(koz) |
(koz) |
Measured |
Copala |
1.88 |
442 |
3.09 |
0.08 |
0.15 |
684 |
8.92 |
26,744 |
187 |
1.4 |
2.9 |
41,418 |
540 |
Napoleon |
0.36 |
161 |
2.34 |
0.51 |
1.41 |
404 |
4.55 |
1,853 |
27 |
1.8 |
5.1 |
4,638 |
52 |
Total
Measured |
2.24 |
397 |
2.97 |
0.15 |
0.35 |
640 |
8.22 |
28,597 |
214 |
3.3 |
7.9 |
46,056 |
592 |
Indicated |
Copala |
4.29 |
402 |
2.50 |
0.09 |
0.17 |
600 |
7.80 |
55,374 |
345 |
3.8 |
7.2 |
82,781 |
1,076 |
Tajitos |
0.72 |
380 |
2.34 |
0.14 |
0.25 |
571 |
7.36 |
8,833 |
55 |
1.0 |
1.8 |
13,277 |
171 |
Cristiano |
0.36 |
610 |
3.67 |
0.25 |
0.45 |
912 |
11.73 |
7,102 |
43 |
0.9 |
1.6 |
10,614 |
137 |
Copala Area
Total |
5.37 |
413 |
2.56 |
0.11 |
0.20 |
617 |
8.01 |
71,309 |
443 |
5.7 |
10.6 |
106,672 |
1,384 |
Napoleon |
3.78 |
150 |
2.25 |
0.52 |
1.78 |
399 |
4.32 |
18,184 |
273 |
19.4 |
67.2 |
48,404 |
525 |
Napoleon HW |
0.99 |
217 |
2.09 |
0.47 |
1.64 |
448 |
5.04 |
6,885 |
66 |
4.6 |
16.2 |
14,206 |
160 |
Luisa |
0.49 |
143 |
2.12 |
0.31 |
1.44 |
364 |
4.08 |
2,238 |
33 |
1.5 |
7.0 |
5,693 |
64 |
Josephine |
0.06 |
230 |
2.54 |
0.38 |
1.09 |
473 |
5.64 |
452 |
5 |
0.2 |
0.7 |
928 |
11 |
Cruz |
0.03 |
145 |
2.01 |
0.38 |
2.01 |
380 |
4.03 |
154 |
2 |
0.1 |
0.7 |
403 |
4 |
NP Area Total |
5.34 |
163 |
2.21 |
0.49 |
1.72 |
405 |
4.44 |
27,913 |
379 |
25.9 |
91.7 |
69,634 |
763 |
Total
Indicated |
10.72 |
288 |
2.39 |
0.30 |
0.95 |
512 |
6.23 |
99,222 |
822 |
31.6 |
102.3 |
176,306 |
2,147 |
Measured & Indicated |
Total M&I |
12.96 |
307 |
2.49 |
0.27 |
0.85 |
534 |
6.58 |
127,819 |
1,036 |
34.9 |
110.2 |
222,362 |
2,739 |
Inferred |
Copala |
2.32 |
322 |
1.83 |
0.16 |
0.27 |
476 |
6.09 |
24,014 |
137 |
3.7 |
6.2 |
35,452 |
454 |
Tajitos |
0.89 |
346 |
2.08 |
0.27 |
0.43 |
527 |
6.66 |
9,936 |
60 |
2.4 |
3.9 |
15,132 |
191 |
Cristiano |
0.34 |
460 |
2.49 |
0.16 |
0.31 |
665 |
8.57 |
4,959 |
27 |
0.5 |
1.0 |
7,168 |
92 |
Copala Area
Total |
3.55 |
341 |
1.96 |
0.19 |
0.31 |
507 |
6.48 |
38,909 |
224 |
6.7 |
11.1 |
57,752 |
739 |
Napoleon |
2.28 |
159 |
1.46 |
0.44 |
1.63 |
340 |
3.64 |
11,637 |
107 |
10.0 |
37.1 |
24,941 |
267 |
Napoleon HW |
0.59 |
202 |
2.12 |
0.64 |
2.15 |
458 |
4.91 |
3,800 |
40 |
3.7 |
12.6 |
8,619 |
92 |
Luisa |
2.83 |
132 |
2.24 |
0.28 |
1.24 |
355 |
4.05 |
12,049 |
204 |
8.1 |
35.2 |
32,307 |
369 |
Josephine |
0.21 |
176 |
1.81 |
0.34 |
1.01 |
360 |
4.19 |
1,180 |
12 |
0.7 |
2.1 |
2,406 |
28 |
Cruz |
0.35 |
171 |
3.58 |
0.30 |
1.64 |
510 |
5.92 |
1,907 |
40 |
1.0 |
5.7 |
5,676 |
66 |
NP Area Total |
6.25 |
152 |
2.00 |
0.38 |
1.48 |
368 |
4.09 |
30,573 |
403 |
23.5 |
92.6 |
73,949 |
822 |
*San Antonio |
0.30 |
226 |
1.30 |
0.01 |
0.03 |
325 |
4.33 |
2,038 |
12 |
0.0 |
0.1 |
2,936 |
39 |
*Animas |
0.40 |
169 |
1.68 |
0.29 |
0.60 |
327 |
4.37 |
2,101 |
21 |
1.1 |
2.3 |
4,074 |
54 |
Total Inferred |
10.50 |
219 |
1.96 |
0.30 |
1.01 |
412 |
4.91 |
73,621 |
660 |
31.2 |
106.2 |
138,711 |
1,654 |
Note: |
1AgEq = Ag ppm + (((Au ppm x Au price/gram) + (Pb% x Pb price/t) + (Zn% x Zn price/t))/Ag price/gram). Metal price assumptions are $26.00/oz silver, $1,975/oz gold, $2,425/t lead and $2,976/t zinc. |
2AuEq = Au ppm + (((Ag ppm x Ag price/gram) + (Pb% x Pb price/t) + (Zn% x Zn price/t))/Au price/gram). Metal price assumptions are $26.00/oz silver, $1,975/oz gold, $2,425/t lead and $2,976/t zinc. |
*Animas and San Antonio use metal price assumptions are $24.00/oz silver, $1,800/oz gold, $2,425/t lead and $2,976/t zinc. |
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Panuco Project Measured, Indicated & Inferred
Mineral Resource Sensitivity Table
Classification |
Tonnes |
Average Grade |
Contained Metal |
COG AgEq |
Ag |
Au |
Pb |
Zn |
AgEq |
AuEq |
Ag |
Au |
Pb |
Zn |
1AgEq |
2AuEq |
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(Mt) |
(g/t) |
(koz) |
( %) |
( %) |
(g/t) |
(g/t) |
(koz) |
(koz) |
(kt) |
(kt) |
(koz) |
(koz) |
Measured |
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300 |
1.61 |
505 |
3.70 |
0.15 |
0.33 |
803 |
10.37 |
26,174 |
192 |
2.4 |
5.4 |
41,645 |
538 |
250 |
1.80 |
468 |
3.48 |
0.15 |
0.35 |
749 |
9.67 |
27,069 |
201 |
2.7 |
6.2 |
43,259 |
559 |
200 |
1.99 |
435 |
3.24 |
0.15 |
0.35 |
698 |
8.99 |
27,848 |
207 |
3.0 |
7.0 |
44,665 |
575 |
150 |
2.24 |
397 |
2.97 |
0.15 |
0.35 |
640 |
8.22 |
28,597 |
214 |
3.3 |
7.9 |
46,056 |
592 |
120 |
2.40 |
376 |
2.83 |
0.14 |
0.35 |
606 |
7.80 |
28,966 |
218 |
3.4 |
8.3 |
46,731 |
601 |
100 |
2.52 |
361 |
2.71 |
0.14 |
0.34 |
583 |
7.48 |
29,201 |
219 |
3.5 |
8.6 |
47,151 |
605 |
Indicated |
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300 |
6.45 |
409 |
3.32 |
0.33 |
1.01 |
707 |
8.77 |
84,819 |
689 |
21.2 |
65.3 |
146,506 |
1,818 |
250 |
7.59 |
368 |
3.00 |
0.32 |
1.01 |
642 |
7.90 |
89,848 |
732 |
24.5 |
77.0 |
156,602 |
1,929 |
200 |
9.00 |
327 |
2.70 |
0.31 |
0.99 |
576 |
7.07 |
94,704 |
781 |
27.8 |
89.0 |
166,714 |
2,044 |
150 |
10.72 |
288 |
2.39 |
0.30 |
0.95 |
512 |
6.23 |
99,222 |
822 |
31.6 |
102.3 |
176,306 |
2,147 |
120 |
12.07 |
263 |
2.18 |
0.28 |
0.91 |
469 |
5.70 |
102,055 |
846 |
33.6 |
110.0 |
182,123 |
2,210 |
100 |
13.13 |
246 |
2.04 |
0.27 |
0.88 |
440 |
5.33 |
103,884 |
862 |
35.0 |
115.1 |
185,927 |
2,251 |
Inferred*: |
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300 |
4.98 |
336 |
2.94 |
0.39 |
1.25 |
615 |
7.43 |
53,734 |
471 |
19.5 |
62.4 |
98,509 |
1,190 |
250 |
6.18 |
297 |
2.61 |
0.36 |
1.20 |
549 |
6.59 |
59,000 |
519 |
22.5 |
74.0 |
109,085 |
1,309 |
200 |
7.70 |
259 |
2.30 |
0.34 |
1.14 |
485 |
5.78 |
64,200 |
570 |
26.0 |
87.5 |
120,017 |
1,431 |
150 |
9.80 |
221 |
1.99 |
0.31 |
1.06 |
418 |
4.95 |
69,482 |
627 |
30.1 |
103.7 |
131,701 |
1,561 |
120 |
11.26 |
200 |
1.80 |
0.29 |
1.02 |
381 |
4.49 |
72,324 |
653 |
33.1 |
114.4 |
138,018 |
1,626 |
100 |
12.38 |
186 |
1.68 |
0.28 |
0.97 |
357 |
4.18 |
74,139 |
667 |
35.1 |
120.5 |
141,975 |
1,665 |
*Does not include Animas or San Antonio |
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Panuco Project Updated Mineral Resource Estimate
Notes:
| • | The updated mineral resource was estimated by Allan Armitage,
Ph.D., P. Geo. of SGS Geological Services and is an independent Qualified Person as defined by NI 43-101. Mr. Armitage conducted three
site visits to the Property: May 29, 2023, November 6 to November 8, 2023, and May 23, 2024. |
| • | The classification of the Updated Mineral Resource Estimate
into Measured, Indicated and Inferred mineral resources is consistent with current 2014 CIM Definition Standards for Mineral Resources
and Mineral Reserves. The effective date for the Updated Mineral Resource Estimate is September 9, 2024. |
| • | All figures are rounded to reflect the relative accuracy
of the estimate and numbers may not add due to rounding. |
| • | All mineral resources are presented undiluted and in situ,
constrained by continuous 3D wireframe models (considered mineable shapes), and are considered to have reasonable prospects
for eventual economic extraction. |
| • | Mineral resources are not mineral reserves. Mineral resources
which are not mineral reserves, do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence
than that applying to an Indicated or Measured Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected
that the majority of Inferred Mineral Resources could be upgraded to Indicated or Measured Mineral Resources with continued exploration. |
| • | The database comprises a total of 979 drill holes for 372,685
metres of drilling completed by Vizsla Silver between November 2019 and September 2024. |
| • | The mineral resource estimate is based on 29 three-dimensional
("3D") resource models, constructed in Leapfrog, representing the Napoleon-Cruz-Josephine area (13 wireframes), Luisa area
(3 wireframes), the Copala-Tajitos-Cristiano area (7 wireframes), Animas (5 wireframes) and San Antonio (1 wireframe). |
| • | Silver, gold, lead and zinc were estimated for each mineralization
domain in the Panuco Project. Blocks within each mineralized domain were interpolated using 1.5 metre capped composites assigned to that
domain. To generate grade within the blocks, the inverse distance squared (ID2) interpolation method was used for all domains.
All estimates are based on variable block dimensions (by deposit area) and estimation search parameters (by domain). |
| • | Average density values were assigned per zone based on 2,293
samples analysed by ALS in Zacatecas, Mexico or inhouse plus 16% standards, duplicates and sample checks. |
| • | It is envisioned that the Panuco Project deposits may
be mined using underground mining methods. Mineral resources are reported at a base case cut-off grade of 150 g/t AgEq. The mineral resource
grade blocks were quantified above the base case cut-off grade, below surface and within the constraining mineralized wireframes. |
| • | The base-case AgEq Cut-off grade considers metal prices
of $26.00/oz Ag, $1,975/oz Au, $2425/t Pb and $2976/t Zn and considers metal recoveries of 93% for silver, 90% for gold, 94% for Pb and
94% for Zn. |
| • | The base case cut-off grade of 150 g/t AgEq considers
a mining cost of US$45.00/t rock and processing, treatment and refining, transportation and G&A cost of US$50.00/t of mineralized
material. |
| • | The Updated Mineral Resource Estimate may be materially affected
by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. |
The Company remains well-funded for its 2025 operational
objectives including 1) a fully permitted bulk sample test mine program, 2) updated metallurgical test work, 3) delivery of a Feasibility
Study and 4) ongoing discovery-based drilling designed to test high priority targets located in the eastern areas of the district. Depending
on ongoing exploration success, the Company plans to publish a further update to the Updated Mineral Resource Estimate in the second half
of 2025.
Discovery Costs
To date, the Company has incurred an aggregate of
approximately US$146.7 million in exploration expenditures over the life of the Project. This equates to an estimated discovery
cost per silver equivalent ounce of US$0.41 for resources defined in the Updated Mineral Resource Estimate.
About the Panuco project
The newly consolidated Panuco silver-gold project
is an emerging high-grade discovery located in southern Sinaloa, Mexico, near the city of Mazatlán. The 17,856.5-hectare, past
producing district benefits from over 86 kilometres of total vein extent, 35 kilometres of underground mines, roads, power, and permits.
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.
About Vizsla Silver
Vizsla Silver is a Canadian mineral exploration and
development company headquartered in Vancouver, BC, focused on advancing its flagship, 100%-owned Panuco silver-gold project located in
Sinaloa, Mexico. The Company recently completed a Preliminary Economic Study for Panuco in July 2024 which highlights 15.2 Moz AgEq of
annual production over an initial 10.6-year mine life, an after-tax NPV5% of US$1.1B, 86% IRR and a 9-month payback at US$26/oz Ag and
US$1,975/oz Au. Vizsla Silver aims to become the world's leading silver company by implementing a dual track development approach at Panuco,
advancing mine development, while continuing district scale exploration through low-cost means.
Quality Assurance / Quality Control
Drill core and rock samples were shipped to ALS Limited
in Zacatecas, Zacatecas, Mexico and in North Vancouver, Canada for sample preparation and for analysis at the ALS laboratory in North
Vancouver. The ALS Zacatecas and North Vancouver facilities are ISO 9001 and ISO/IEC 17025 certified. Silver and base metals were
analyzed using a four-acid digestion with an ICP finish and gold was assayed by 30-gram fire assay with atomic absorption ("AA")
spectroscopy finish. Over limit analyses for silver, lead and zinc were re-assayed using an ore-grade four-acid digestion with AA finish.
Control samples comprising certified reference samples,
duplicates and blank samples were systematically inserted into the sample stream and analyzed as part of the Company's quality assurance
/ quality control protocol.
Qualified Person
The Updated Mineral Resource Estimate was completed
by Allan Armitage, Ph.D., P.Geo., of SGS Geological Services. Mr. Armitage is an independent Qualified Person as defined by NI 43-101.
Mr. Armitage has reviewed and approved the technical contents 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 U.S. Securities and Exchange
Commission (the "SEC"). The terms "measured mineral resource", "indicated mineral resource" and "inferred
mineral resource" used herein are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum
Standards (the "CIM Definition Standards"), which definitions have been adopted by NI 43-101. Accordingly, information contained
herein providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar information made public
by other U.S. companies subject to the United States federal securities laws and the rules and regulations thereunder.
You are cautioned not to assume that any part or all
of the 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.
The SEC adopted new mining disclosure rules Pursuant
to subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (the "SEC Modernization Rules"). 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". As an eligible issuer under the Multijurisdictional Disclosure System
the Company is exempt from compliance with the SEC Modernization Rules and information regarding mineral resources contained or referenced
herein may not be comparable to similar information made public by companies that report according to the SEC Modernization Rules. While
the SEC Modernization Rules are purported to be "substantially similar" to the CIM Definition Standards, readers are cautioned
that there are differences between the SEC Modernization Rules and the CIM Definitions Standards. Accordingly, there is no assurance any
mineral resources that the Company may report as "measured mineral resources", "indicated mineral resources" and "inferred
mineral resources" under NI 43-101 would be the same had the Company prepared the resource estimates under the standards adopted
under the SEC Modernization Rules.
Website: www.vizslasilvercorp.com
X: https://x.com/VizslaSilver
LinkedIn: https://www.linkedin.com/company/vizsla-silver
YouTube: https://www.youtube.com/@VizslaSilver
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 Panuco, including drilling programs; the
potential for underground mining methods; the preparation of a technical report on the Updated Mineral Resource Estimate; ongoing initiatives
including a test mine program, feasibility study and 10,000 metre drill program; and the potential further update to the Updated Mineral
Resource Estimate in the second half of 2025.
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 Mexico; regulatory, consent or permitting delays; risks relating to reliance on the Company's management
team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain insurance to cover all
risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate sufficient cash flow
from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining projects, including
the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects; contests over title
to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health and safety; operating
or technical difficulties in connection with mining or development activities; employee relations, labour unrest or unavailability; the
Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully integrate acquired assets;
the speculative nature of exploration and development, including the risks of diminishing quantities or grades of reserves; stock market
volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders of the Company; litigation
risk; and the factors identified under the caption "Risk Factors" in Vizsla Silver's management discussion and analysis. Readers
are cautioned against attributing undue certainty to forward-looking statements or forward-looking information. Although Vizsla Silver
has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause
results not to be anticipated, estimated or intended. Vizsla Silver does not intend, and does not assume any obligation, to update these
forward-looking statements or forward-looking information to reflect changes in assumptions or changes in circumstances or any other events
affecting such statements or information, other than as required by applicable law.
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SOURCE Vizsla Silver Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2025/06/c6033.html
%CIK: 0001796073
For further information: Contact Information: For more information
and to sign-up to the mailing list, please contact: Michael Konnert, President and Chief Executive Officer, Tel: (604) 364-2215, Email:
info@vizslasilver.ca
CO: Vizsla Silver Corp.
CNW 06:00e 06-JAN-25
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