Vancouver-based Vizsla Silver Corp. announced today a significant discovery at its Panuco project, marking the highest grade intercept of silver and gold to date. The company's recent exploration yielded an impressive 9,920 grams per tonne (g/t) silver and 663 g/t gold over a true width of 0.64 meters at the Copala structure within the project.
The Panuco project, located in Mexico, has been a focus for Vizsla Silver, a company specializing in gold and silver ores. The findings from the latest drilling campaign were filed in a report with the U.S. Securities and Exchange Commission (SEC) as a Form 6-K, which is used by foreign private issuers to provide timely updates on material events.
Michael Konnert, Chief Executive Officer of Vizsla Silver, expressed his enthusiasm for the discovery, stating in the press release, "This intercept not only demonstrates the high-grade nature of the Panuco deposit but also solidifies the project's potential for significant silver and gold mineralization."
The results have the potential to expand the known mineralized zones at Panuco and provide a boost to the ongoing exploration efforts. Vizsla Silver Corp., previously known as Vizsla Resources Corp., has been actively exploring and developing the Panuco project, with the aim of outlining and expanding its high-grade silver and gold resources.
Investors and market watchers will likely keep a close eye on Vizsla Silver's progress as the company continues to explore and define the scope of the Panuco project. Today's announcement could have implications for the company's future operations and its position in the precious metals market.
This news is based on the latest SEC filings and the company's press release dated June 26, 2024.
In other recent news, Vizsla Silver Corp. has received court approval for the spinout of Vizsla Royalties Corp., marking a significant reorganization for the mining company. The move will result in Vizsla Royalties becoming a separate entity, dedicated to managing and growing a portfolio of precious metals royalties and streams. This strategic shift allows Vizsla Silver to concentrate on its core mining operations.
In the wake of this development, H.C. Wainwright has raised its target for Vizsla Silver shares to $3.50, maintaining a Buy rating on the stock. The firm's confidence in Vizsla Silver's prospects is reflected in this adjustment, following the approval of the spinout by Vizsla's shareholders.
Furthermore, Vizsla Silver has reported significant silver and gold intercepts at its Copala project, including 1,017 grams per tonne of silver and 8.19 grams per tonne of gold over a true width of 13 meters. These findings are part of the company's ongoing exploration program, aimed at expanding its resource base.
In addition to these developments, Vizsla Silver's shareholders have approved all proposed resolutions at a recent special meeting. While the specific details of the resolutions were not disclosed, such approvals typically relate to governance changes, financial restructuring, or corporate actions requiring shareholder consent.
These are recent developments in Vizsla Silver's continuous business activities in the mining sector, aimed at maximizing shareholder value through the exploration and development of precious metal resources.
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