VANCOUVER, BC, Jan. 8, 2024
/CNW/ - Vizsla Silver Corp. (NYSE: VZLA) (TSXV: VZLA)
(Frankfurt: 0G3) ("Vizsla
Silver" or the "Company") is pleased to announce 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 2023:
- 48.7% increase in indicated mineral resources from 104.8 to
155.8 Moz AgEq
- 48.7% increase in inferred mineral resources from 114.1 to
169.6 Moz AgEq
- 17% increase in average indicated mineral resource grade
from 437 to 511 g/t AgEq
- New addition of La Luisa containing 4.0 Moz AgEq indicated
and 25.3 Moz AgEq of Inferred Resources
Key Statistics:
- The Updated Mineral Resource represents less than 10% of the
known vein strike of the newly consolidated district
- 90% 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$0.32/oz AgEq discovered
Indicated Mineral Resources are estimated at 9.5
million tonnes ("Mt") grading 289 grams per tonne ("g/t") silver,
2.41 g/t gold, 0.27% lead, and 0.84% zinc (511 g/t silver
equivalent ("AgEq")). The Updated Mineral Resource Estimate
includes indicated mineral resources of 88.2 million ounces ("Moz")
of silver, 736 thousand ounces ("koz") of gold, 25.4 kilotonnes
("kt") of lead, and 79.9 kt of zinc (155.8 Moz AgEq).
Inferred Mineral Resources are estimated at 12.2 Mt
grading 239 g/t silver, 1.93 g/t gold, 0.29% lead, and 1.03% zinc
(433 g/t AgEq). The Updated Mineral Resource Estimate
includes inferred mineral resources of 93.7 Moz of silver, 758 koz
of gold, 35.4 kt of lead, and 125.3 kt of zinc (169.6 Moz
AgEq).
The Updated Mineral Resource Estimate is centred on the western
portion of Panuco, encompassing ~8
km of the known 86 km of cumulative vein strike in the district.
The Updated Mineral Resource Estimate includes 178 new
infill/expansion holes (100,222 metres) completed by Vizsla Silver
between September 2022 and
September 2023. In total, the Updated
Mineral Resource Estimate is based on a total drill database of 822
holes (302,931 metres) completed by Vizsla Silver since
November 2019.
"We are pleased to announce another significant resource
update milestone for the high-grade Panuco silver gold district," commented
Michael Konnert, President and
CEO. "Although substantial, this update represents only a moment
in time at the Project, as drills continue to turn in
2024."
"The Project's indicated resource now stands at 88 million
ounces of silver and 736 thousand ounces of gold, while the
inferred resource contains 94 million ounces of silver and 758
thousand ounces of gold. This represents a 49% increase in both
indicated and inferred ounces and a 17% increase in indicated grade
relative to the previous estimate. Resource focused drilling
throughout 2023 was successful in converting almost half of the
January 2023 inferred resource to the
indicated category while exploration drilling added new resources
at both Copala and Napoleon. The
bulk of this year's resource growth came from the Napoleon Area,
largely driven by the inclusion of La Luisa, which added an
additional 25Moz AgEq in inferred mineralization."
"What's most impressive is that although we continue to
expand the Project's mineral inventory year after year, our current
resource still accounts for less than 10% of the known veins we
have in the district. Going forward, we will focus on de-risking
and advancing the high-grade resource in the west towards
development, taking advantage of the Project's incredible
infrastructure, while simultaneously hunting for the next epicenter
of mineralization in the central and eastern portions of the
district. This is an outstanding 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
2024."
Vizsla Silver will be hosting a webcast to discuss the
Updated Mineral Resource Estimate at 10:00am PT on Thursday,
January 11th, 2024. 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 1,
2023.
Panuco Project Resource Summary (150 g/t AgEq
cut-off)
|
Updated
MRE
|
Previous
MRE
|
Variance
|
Resource
Class
|
Indicated
|
Inferred
|
Indicated
|
Inferred
|
Indicated
|
Inferred
|
Tonnes
(MT)
|
9.5
|
12.2
|
7.5
|
7.2
|
2.0
|
5.0
|
Au
g/t
|
2.41
|
1.93
|
2.12
|
2.14
|
0.29
|
-0.21
|
Ag
g/t
|
289
|
239
|
243
|
304
|
46
|
-65
|
Pb
%
|
0.27
|
0.29
|
0.23
|
0.19
|
0.04
|
0.10
|
Zn
%
|
0.84
|
1.03
|
0.71
|
0.54
|
0.13
|
0.49
|
AgEq
(g/t)
|
511
|
433
|
437
|
491
|
74
|
-58
|
AuEq
(g/t)
|
6.81
|
5.76
|
5.82
|
6.55
|
0.99
|
-0.79
|
Au
(koz)
|
736
|
758
|
508
|
496
|
228
|
262
|
Ag
(koz)
|
88,192
|
93,653
|
58,330
|
70,672
|
29,862
|
22,981
|
Pb
(kt)
|
56.0
|
35.4
|
17.2
|
13.7
|
38.8
|
21.7
|
Zn
(kt)
|
79.9
|
125.3
|
53.3
|
38.9
|
26.6
|
86.4
|
1AgEq
(koz)
|
155,841
|
169,647
|
104,793
|
114,113
|
51,048
|
55,534
|
2AuEq
(koz)
|
2,076
|
2,261
|
1,404
|
1,516
|
672
|
745
|
Panuco Project Indicated & Inferred Mineral Resource
Summary by Vein (150 g/t AgEq cut-off)
Classification
|
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)
|
Indicated
|
Copala
|
4.5
|
380
|
2.46
|
0.08
|
0.15
|
573
|
7.64
|
55,201
|
358
|
3.7
|
6.9
|
83,270
|
1,110
|
Tajitos
|
0.6
|
358
|
2.24
|
0.12
|
0.21
|
538
|
7.18
|
7,295
|
46
|
0.7
|
1.3
|
10,953
|
146
|
Cristiano
|
0.2
|
581
|
3.37
|
0.25
|
0.43
|
858
|
11.45
|
3,961
|
23
|
0.5
|
0.9
|
5,851
|
78
|
Copala Area
Total
|
5.4
|
385
|
2.48
|
0.09
|
0.17
|
580
|
7.74
|
66,457
|
427
|
5.0
|
9.2
|
100,074
|
1,343
|
Napoleon
|
3.3
|
162
|
2.39
|
0.52
|
1.73
|
425
|
5.66
|
17,276
|
255
|
17.2
|
57.4
|
45,223
|
603
|
Napoleon HW
|
0.4
|
164
|
1.72
|
0.42
|
1.53
|
365
|
4.87
|
2,259
|
24
|
1.8
|
6.5
|
5,029
|
67
|
Luisa
|
0.3
|
177
|
2.56
|
0.39
|
2.01
|
459
|
6.12
|
1556
|
22
|
1.1
|
5.5
|
4,027
|
54
|
Josephine
|
0.1
|
221
|
2.88
|
0.39
|
1.11
|
492
|
6.56
|
491
|
6
|
0.3
|
0.8
|
1,092
|
15
|
Cruz
|
0.0
|
144
|
2.01
|
0.37
|
1.71
|
373
|
4.97
|
153
|
2
|
0.1
|
0.6
|
396
|
5
|
NP Area
Total
|
4.1
|
164
|
2.34
|
0.50
|
1.72
|
421
|
5.66
|
21,735
|
309
|
20.4
|
70.7
|
55,767
|
743
|
Total
Indicated
|
9.5
|
289
|
2.41
|
0.27
|
0.84
|
511
|
6.81
|
88,192
|
736
|
25.4
|
79.9
|
155,841
|
2,076
|
Inferred
|
Copala
|
3.2
|
332
|
1.77
|
0.12
|
0.20
|
476
|
6.34
|
33,722
|
179
|
3.7
|
6.2
|
48,320
|
644
|
Tajitos
|
1.0
|
365
|
2.04
|
0.22
|
0.39
|
540
|
7.21
|
12,260
|
69
|
2.3
|
4.0
|
18,140
|
242
|
Cristiano
|
0.7
|
443
|
2.54
|
0.15
|
0.29
|
650
|
8.66
|
10,213
|
59
|
1.1
|
2.0
|
14,974
|
200
|
Copala Area
Total
|
4.9
|
355
|
1.94
|
0.15
|
0.25
|
515
|
6.86
|
56,195
|
307
|
7.1
|
12.3
|
81,434
|
1,081
|
Napoleon
|
3.2
|
137
|
1.64
|
0.45
|
1.76
|
342
|
4.57
|
14,045
|
168
|
14.4
|
55.9
|
35,063
|
467
|
Napoleon HW
|
0.8
|
220
|
2.17
|
0.59
|
2.02
|
479
|
6.39
|
5,976
|
59
|
5.0
|
17.0
|
13,027
|
174
|
La Luisa
|
2.0
|
159
|
2.13
|
0.30
|
1.51
|
386
|
5.15
|
10,439
|
139
|
6.0
|
30.8
|
25,326
|
338
|
Josephine
|
0.2
|
161
|
2.05
|
0.33
|
1.00
|
364
|
4.85
|
1161
|
15
|
0.7
|
2.2
|
2,618
|
35
|
Cruz
|
0.3
|
170
|
3.75
|
0.31
|
1.48
|
519
|
6.91
|
1698
|
37
|
1.0
|
4.6
|
5,169
|
69
|
NP Area
Total
|
6.6
|
157
|
1.97
|
0.41
|
1.68
|
383
|
5.10
|
33,319
|
418
|
27.1
|
110.6
|
81,203
|
1,082
|
San Antonio
|
0.3
|
226
|
1.30
|
0.01
|
0.03
|
325
|
4.33
|
2,038
|
12
|
0.0
|
0.1
|
2,936
|
39
|
*Animas
|
0.4
|
169
|
1.68
|
0.29
|
0.60
|
327
|
4.37
|
2,101
|
21
|
1.1
|
2.3
|
4,074
|
54
|
Total
Inferred
|
12.2
|
239
|
1.93
|
0.29
|
1.03
|
433
|
5.76
|
93,653
|
758
|
35.4
|
125.3
|
169,647
|
2,261
|
*Animas is Rosarito and
Cuevillas veins
|
|
|
|
|
|
|
|
|
|
|
|
Panuco Project 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
|
|
(Mt)
|
(g/t)
|
(koz)
|
( %)
|
( %)
|
(g/t)
|
(g/t)
|
(koz)
|
(koz)
|
(kt)
|
(kt)
|
(koz)
|
(koz)
|
Indicated:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
300
|
5.58
|
415
|
3.41
|
0.31
|
0.96
|
718
|
9.57
|
74,501
|
612
|
17.2
|
53.5
|
128,810
|
1,716
|
250
|
6.54
|
375
|
3.09
|
0.3
|
0.95
|
653
|
8.70
|
78,809
|
651
|
19.5
|
62.2
|
137,286
|
1,830
|
200
|
7.86
|
331
|
2.75
|
0.29
|
0.9
|
581
|
7.75
|
83,610
|
694
|
22.2
|
70.8
|
146,774
|
1,958
|
150
|
9.48
|
289
|
2.41
|
0.27
|
0.84
|
511
|
6.81
|
88,192
|
736
|
25.4
|
79.9
|
155,841
|
2,076
|
120
|
10.75
|
263
|
2.2
|
0.25
|
0.79
|
467
|
6.22
|
91,066
|
759
|
26.8
|
85.3
|
161,308
|
2,149
|
100
|
11.74
|
246
|
2.05
|
0.24
|
0.75
|
437
|
5.82
|
92,965
|
773
|
27.7
|
88.5
|
164,833
|
2,195
|
Inferred:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
300
|
6.47
|
355
|
2.82
|
0.36
|
1.23
|
634
|
8.34
|
73,931
|
587
|
23.1
|
79.4
|
131,930
|
1,734
|
250
|
7.9
|
317
|
2.54
|
0.34
|
1.17
|
565
|
7.51
|
80,365
|
644
|
26.8
|
92.1
|
143,338
|
1,908
|
200
|
9.7
|
278
|
2.24
|
0.32
|
1.12
|
499
|
6.66
|
86,784
|
698
|
30.9
|
108.4
|
155,748
|
2,076
|
150
|
12.19
|
239
|
1.93
|
0.29
|
1.03
|
433
|
5.76
|
93,653
|
758
|
35.4
|
125.2
|
169,647
|
2,261
|
120
|
14.04
|
216
|
1.75
|
0.28
|
0.97
|
393
|
5.25
|
97,502
|
791
|
38.6
|
136.1
|
177,648
|
2,368
|
100
|
15.47
|
201
|
1.63
|
0.26
|
0.92
|
367
|
4.89
|
99,985
|
812
|
40.8
|
142.9
|
182,671
|
2,433
|
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 $24.00/oz
silver, $1,800/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 $24.00/oz
silver, $1,800/oz gold, $2,425/t lead and $2,976/t zinc.
|
Panuco Project Updated Mineral Resource Estimate
Notes:
- The classification of the Updated Mineral Resource Estimate
into 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 1,
2023.
- 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, 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 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 Mineral Resources with continued
exploration.
- The database comprises a total of 822 drill holes for 302,931
metres of drilling completed by Vizsla Silver between November 2019 and September 2023.
- The mineral resource estimate is based on 28 three-dimensional
("3D") resource models, constructed in Leapfrog, representing the
Napoleon area (15 wireframes), the Copala area (7 wireframes), Tajitos (1 wireframe), 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 1,919
samples analysed by ALS in Zacatecas,
Mexico or inhouse with 5% checks by ALS.
- 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
$24.00/oz Ag, $1800/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 ongoing +65,000 metre
2024 drill program with four drill rigs designed to upgrade and
expand the Project's resource base and test high priority targets
located in the west, central and eastern areas of the district.
Dependent on ongoing exploration success, the Company plans to
publish a further update to the Updated Mineral Resource Estimate
in the second half of 2024.
Discovery Costs
To date, the Company has incurred an aggregate of approximately
US$103.0 million in exploration
expenditures over the life of the Project. This equates to an
estimated discovery cost per silver equivalent ounce of
US$0.32 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 7,189.5 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. To date,
Vizsla Silver has completed over 310,000 metres of drilling at
Panuco leading to the discovery of
several new high-grade veins. For 2024, Vizsla Silver is focused on
de-risking the resource base located in the western portion of the
district ahead of a development decision. Additionally, Vizsla has
budgeted +65,000 metres of resource/discovery-based drilling
designed to upgrade and expand the Project's mineral resource, as
well as test other high priority targets across the district.
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.
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
Website: www.vizslasilvercorp.ca
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 Panuco, including drilling programs, the
mobilization of drill rigs; and the potential for underground
mining methods; the preparation of a technical report on the
Updated Mineral Resource Estimate; and the potential further update
to the Updated Mineral Resource Estimate in the second half of
2023.
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; no escalation in the severity of the
COVID-19 pandemic; 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; the ability of the communities in
which the Company operates to manage and cope with the implications
of COVID-19; the economic and financial implications of COVID-19 to
the Company; 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.
SOURCE Vizsla Silver Corp.