Vizsla Silver(TSX:VZLA)

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.

Investor website: https://vizslasilvercorp.com/

About

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.

Verified company data

Cash position
$100M+
Shares outstanding
343.9 M
Fully diluted shares
367.06 M
Mineral resource
On January 6, 2025, the Company announced an updated mineral resource estimate for Panuco which includes an estimated in-situ combined measured and indicated mineral resource of 222.4 Moz AgEq and an in-situ inferred resource of 138.7 Moz AgEq (please refer to Vizsla’s press release dated January 6, 2025).
Projects
["Panuco Project\n\n## Overview\n\n#### District Scale & 100% Owned\n\n- Applying modern exploration techniques to a newly consolidated land package that has never been systematically explored\n- Quadrupled land package since January 2024, now over 30k ha\n\n#### Location, Location, Location\n\n- Situated in an underexplored area of the emerging Western Mexico Silver Belt\n- 80km from San Dimas (1Bn+ Oz AgEq in production(1) \\+ reserves)\n\n#### Existing Infrastructure\n\n- Past producing district that benefits from access to HV power, water, roads, and proximal to Mazatlán\n- To date, Vizsla has completed over 375,000 metres of diamond drilling without constructing a single road\n\n#### World’s Largest Undeveloped High-Grade Silver Primary Resource Advancing to Production\n\n- Upgrading resources to higher confidence categories\n- Completed conversion drilling and test mine commenced in Q4 2024 to de-risk initial production\n- Targeting first silver in H2 2027\n\n#### Corporate Strength\n\n- Vizsla is well funded with $94M+ in cash plus ITM options(2) & warrants, no debt, and industry leading team & board\n\n- [Panuco Project](https://vizslasilvercorp.com/projects/panuco-project/)\n - [Overview](https://vizslasilvercorp.com/projects/panuco-project/overview/)\n - [Maps & Figures](https://vizslasilvercorp.com/projects/panuco-project/maps-figures/)\n - [Photo Gallery](https://vizslasilvercorp.com/projects/panuco-project/photo-gallery/)\n - [Mineral Resource Estimate](https://vizslasilvercorp.com/projects/panuco-project/mineral-resource-estimate/)\n - [Preliminary Economic Assessment](https://vizslasilvercorp.com/projects/panuco-project/preliminary-economic-assessment/)\n - [Feasibility Study](https://vizslasilvercorp.com/projects/panuco-project/feasibility-study/)\n\n## Feasibility Study\n\nOn November 12, 2025 the Company announced the [**Feasibility Study**](https://vizslasilvercorp.com/vizsla-silver-delivers-positive-feasibility-study-for-the-panuco-project/) on the Project.\n\nThe 2025 Panuco Feasibility Study considers two contiguous underground mines, the Copala Mine and the Napoleon Mine, with on-site treatment of the mined material processed through a 3-stage crushing-grinding circuit, along with a leach and Merrill Crowe circuit to produce silver-gold doré bars. The mines will be contractor-operated, utilizing ramp-access and a combination of long-hole stoping and drift-and-fill mining methods.\n\nThe processing throughput capacity of 3,300 tonnes per day for the first 3 years, expanding to 4,000 tonnes per day in year 4, results in an initial mine life of 9.4 years. The Feasibility Study leverages the Panuco district’s existing infrastructure in a well-established mining jurisdiction, including all-weather access roads, high-voltage power, and an abundance of water and skilled labour.\n\nThe Feasibility Study is derived using the Company’s updated NI 43-101 Mineral Resource Estimate (dated February 20, 2025). The effective date of the Feasibility Study is November 4th, 2025.\n\n#### NI 43-101 Technical Report and Feasibility Study\n\n[Panuco Project NI 43-101 Technical Report and Feasibility Study](https://wp-vizslasilvercorp-2024.s3.ca-central-1.amazonaws.com/media/2025/12/2025-12-02-panuco-trfs.pdf) [Download](https://wp-vizslasilvercorp-2024.s3.ca-central-1.amazonaws.com/media/2025/12/2025-12-02-panuco-trfs.pdf)"]
Leadership
Michael A. Konnert (President, Chief Executive Officer, Mining entrepreneur with expertise in deal-making, financing, and corporate development. Founder of Vizsla Silver Corp. and co-founder of Inventa Capital.), Mahesh Liyanage (Chief Financial Officer, Chartered Professional Accountant with over 20 years of experience in public company reporting and regulatory compliance.), Simon Cmrlec (Chief Operating Officer & Director, Senior engineer with over 30 years of experience in mining projects globally, previously COO of Ausenco.), Michael Pettingell (SVP, Business Development and Strategy, Geologist with over 10 years of experience in mining and capital markets.), Jesus Velador (VP, Exploration, Over 20 years of experience in precious metals exploration, previously managed exploration programs at Fortuna Silver Mines.), Hernando Rueda (Director of Mexico, Professional Geologist with over 20 years of experience, former Regional Exploration Manager at Capstone Mining.), Jennifer Hanson (not discovered), Craig Parry (Independent Director / Chairman, Experienced executive and geologist with a history of leading successful resource projects, currently Lead Director of Skeena Resources Ltd.), Harry Pokrandt (Independent Director, Capital Markets Executive with over 30 years of experience in mining and technology.), David Cobbold (Independent Director, Veteran investment banker with 25 years of experience in financial services, currently Vice Chairman of Metals and Mining at Macquarie Group.), Eduardo Luna (Independent Director, Over 40 years in the precious metals mining industry, former senior executive at several companies including Goldcorp Inc.), Suki Gill (Independent Director, Chartered Professional Accountant with 23 years of experience in audit and assurance services for resource companies.)

Verified data last updated: 2026-05-15

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