PRECIOUS METALS

Vizsla preparing to restart drilling at Panuco

COVID-19 pause continues in August

 Vizsla Silver’s Panuco project in Mexico

Vizsla Silver’s Panuco project in Mexico

"Although we're eager to resume drilling, the health and safety of our employees and our communities is paramount," president and CEO Michael Konnert said on Friday.

The company expects to start with two rigs on September 1 and ramp up to 10 rigs by month-end as conditions improve but it remains prepared to adjust plans as required.

It's aiming for an initial resource at Panuco in the first quarter of 2022.

The company changed name from Vizsla Resources in February and has spun out its British Columbia copper assets into Vizsla Copper, which is separately aiming to raise C$5 million at 15c per share and 18c per flow-through share.

Vizsla raised $69 million in June after underwriters of a $60 million bought-deal financing exercised their over-allotment option in full.

Units were priced at $2.50.

The company now has about $57 million in cash after its move in July to acquire the Copala property, taking its 100%-owned Panuco silver-gold project to 9,400ha, which includes a mill and 35km of underground mines.

Shares in Vizsla (TSXV: VZLA) gained 1% on Friday to close at C$2, a midpoint in its one-year range, capitalising it about $259 million (US$203 million).

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.