Vizsla Silver Outlines Its 2025 Exploration Program at Panuco, Highlighting Significant Upside Potential

Core Viewpoint - Vizsla Silver Corp has announced an expanded exploration program at its Panuco silver-gold project, indicating significant upside potential for resource growth and production [1][2]. Company Overview - Vizsla Royalties Corp holds a 3.5% NSR royalty on the proposed Panuco PEA mine plan and a 2% NSR royalty on other exploration concessions in the Panuco district [1]. - The company is positioned to benefit from any growth in resource and production potential without dilution or capital outlay [3]. Exploration Objectives - Vizsla Silver aims to complete over 25,000 meters of exploration drilling, with approximately 8,000 meters already completed [8]. - An Airborne Electromagnetic (TEM) survey covering over 1,000 line-kilometers is planned, along with advancing mapping of the district to achieve 70% coverage [8]. - A Feasibility Study is targeted for completion in the second half of 2025, with initial production expected in the second half of 2027 [3]. Resource Base - Vizsla Silver has defined a global resource base of over 2.7 million gold equivalent ounces in the Measured and Indicated (M+I) category, plus an additional 1.7 million ounces in the Inferred category at the Panuco project [2]. - These resources represent only about 8% of the known vein potential within the district, indicating substantial room for expansion [2]. Financial Metrics - A Preliminary Economic Study for the Panuco project published in July 2024 highlights an annual production of 15.2 million ounces of silver equivalent over an initial mine life of 10.6 years, with an after-tax NPV5% of US$1.1 billion, an 86% IRR, and a 9-month payback period at silver and gold prices of US$26/oz and US$1,975/oz respectively [5].