Vizsla Silver Corp.‘s (TSXV: VZLA) (NYSE: VZLA) recent drilling campaign at the Panuco silver-gold project in Mexico brought back high-grade mineral continuity where mining is likely to happen in the first two years of production.
The company included this on Wednesday as part of a progress report on its 22 new drill holes on the Copala resource area. The drilling was designed to infill near-surface indicated mineral resources.
The Copala structure is dominant in precious metals and located in the western portion of the Panuco district. It lies approximately 800 meters east of the Napoleon Vein. Indicated Resources at Copala currently contain 83.3 million ounces of silver equivalent at 573 grams per tonne of silver equivalent, while Inferred Resources contain 48.3 million ounces of silver equivalent at 476 grams per tonne.
“Infill drilling at Copala continues to highlight excellent precious metals continuity,” said Michael Konnert, President & CEO.
“Our recent infill campaign focused on upgrading resources within the area designated for the first two years of potential production.”
Connert noted that the program has increased the high-grade area closer to the surface. With these results, the team has initiated an additional 5,000-meter program aimed at expanding resources beyond the current Mineral Resource Estimate (MRE) and upgrading more inferred resources at Copala. The additional drilling is anticipated to be finished by late September.
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Recent infill program drilled 10K meters in 33 holes
Exploration and resource drilling at Copala have outlined mineralization over approximately 1,770 meters of strike length and 400 meters down dip. A recent infill program drilled 10,172 meters in 33 holes to upgrade near-surface indicated resources in the central part of the main Copala structure to the measured resource category. Twenty-two infill holes confirmed high-grade precious metal continuity along the structure.
Recent LiDAR mapping revealed a historic mine adit at Copala central. Meanwhile, 3D drilling data suggests potential resource expansion up dip from a previous hole with visible gold. The prospective expansion area, estimated at 120 by 200 meters, also includes additional near-surface targets along the strike of Copala and at the intersection with the Cristiano veins.
Vizsla has initiated a new 5,000-meter drill program. The intent of which is to expand resources beyond the current MRE and upgrade inferred resources. This program is expected to finish by late September.
Several companies are active in gold and silver mining across Central America.
One notable player is Aura Minerals (TSX: ORA), which operates the San Andres gold mine in Honduras and the Aranzazu project in Mexico.
Furthermore, Condor Gold (TSX: COG) (AIM: CNR) is another company with its La India project in Nicaragua, aiming to develop a high-grade gold deposit. Additionally, Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF) has reported high-grade returns from its 2024 drill results at the Eastern Borosi Mine Complex also in Nicaragua. These demonstrated the potential to expand the mine beyond the previously stated life of mine.
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