UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN
PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE
ACT OF 1934
For the month
of May 2024
Commission File
Number: 001-41225
VIZSLA SILVER CORP.
(Registrant)
Suite 700, 1090 West Georgia
Street
Vancouver, British Columbia
V6E 3V7 Canada
(Address
of Principal Executive Offices)
Indicate by check mark whether the Registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☐ Form 40-F ☒
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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VIZSLA SILVER CORP. |
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(Registrant) |
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| Date:
May 3, 2024 |
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By |
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/s/ Michael Konnert |
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Michael Konnert |
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Chief Executive Officer |
EXHIBIT INDEX
EXHIBIT 99.1
VIZSLA SILVER PROVIDES FURTHER UPDATE ON ACQUISITION
OF LARGE CLAIM PACKAGE ALONG HIGHLY PROSPECTIVE STRUCTURAL TREND, SOUTH OF PANUCO
NYSE: VZLA
TSX-V: VZLA
VANCOUVER, BC, May 3, 2024 /CNW/ - Vizsla
Silver Corp. (TSXV: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) ("Vizsla Silver" or the "Company") is pleased
to announce that it has now issued 448,137 common shares (the "Consideration Shares") for the previously announced asset
purchase agreement (the "Acquisition Agreement") dated March 5, 2024, entered into with Inca Azteca Gold S.A.P.I. de
C.V. (the "Seller") and the Company's wholly owned subsidiary, Minera Canam, S.A. de C.V. ("Minera Canam")
pursuant to which the Company agreed to acquire, through Minera Canam, all of the Seller's right, title and interest in and to the mineral
concessions (the "Acquisition").
The Company will acquire two large claims comprising
10,667.0 Ha (the "El Richard - San Enrique claims" or "San Enrique prospect") located south and partially
adjacent to the Company's Panuco project (the "Panuco Project" or "Panuco"). The San Enrique prospect
is situated along the highly prospective Panuco - San Dimas corridor and is covered 100% with LiDAR and partially covered with high-resolution
aero-magnetic and radiometric surveys.
For full details on the Acquisition, please view the
April 16, 2024, news release located on our website at https://vizslasilvercorp.com/news/2024/.
The Consideration Shares have been issued at a share
price of C$1.97 for total consideration of C$882,830 (US$650,000). The Consideration Shares are subject to a four-month hold period pursuant
to applicable Canadian securities laws and the Seller has agreed to voluntary resale restrictions, whereby 12.5% of the Consideration
Shares will become free trading on the date that is four months and one day from the effective date and an additional 12.5% will become
free trading every three months thereafter.
About the San Enrique prospect
The San Enrique prospect area is adjacent to the southern
boundary of the Panuco project. The prospect comprises two titled mining claims covering 10,667.0 Ha (El Richard with 3,688.6 Ha and San
Enrique with 6,978.4 Ha) in the emerging silver-gold-rich Panuco - San Dimas corridor with estimated past production plus current resources
and reserves of 1.2-Boz Ag and 15-Moz Au.
The LiDAR and mag survey from the San Enrique prospect
show strong NW-trending lineaments, indicative of regional faults and fractures. Two of these lineaments are aligned and seem to be the
SE extensions of the Copala fault and the Cordon del Oro - Animas vein structures in Panuco. The main lithologies identified to date are
predominantly rhyolite domes which produce strong magnetic anomalies in the north, and felsic flows and tuffs (rhyolites and dacites).
Recent 40Ar/39Ar age dating on adularia separates from veins in Panuco project indicates that epithermal mineralization
post dates felsic volcanism in the area. Additionally, preliminary recognizance mapping in the northeast has revealed the presence of
andesite tuffs and flows, quartz veining and breccia structures. The Santa Fe mine is located three kilometres south of San Enrique, is
owned and operated by Inca Azteca Gold and is a small scale mine producing high-grade silver and gold from a NW trending epithermal vein.
This supports the hypothesis that the NW trending structures within San Enrique have the potential to host additional veins yet to be
discovered.
The San Enrique prospect contains several indicators
that suggest it is a highly prospective area, namely: location (Panuco - San Dimas corridor), high-grade deposits immediately north (Copala
and Panuco), structural controls (southeast extensions of the Copala fault and Cordon - Animas lineament), domes and an operating mine
to the south along another NW regional fault (Santa Fe mine, Inca Azteca).
Vizsla Silver is in the process of acquiring a multispectral
World View III satellite image covering the whole Panuco and San Enrique claims to speed up the target generation process. Furthermore,
the Company intends to conduct regional recognizance-mapping and a stream-sediment geochemical survey at San Enrique in the near future.
About the Panuco Project
The newly consolidated Panuco silver-gold project
is an emerging high-grade discovery located in southern Sinaloa, Mexico, near the city of Mazatlán. The 17,856.5-hectare, past
producing district benefits from over 86 kilometres of total vein extent, 35 kilometres of underground mines, roads, power, and permits.
The district contains intermediate to low sulfidation
epithermal silver and gold deposits related to siliceous volcanism and crustal extension in the Oligocene and Miocene. Host rocks are
mainly continental volcanic rocks correlated to the Tarahumara Formation.
On January 8, 2024, the Company announced an updated
mineral resource estimate for Panuco which includes an estimated in-situ indicated mineral resource of 155.8 Moz AgEq and an in-situ inferred
resource of 169.6 Moz AgEq.
About Vizsla Silver
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. To date, Vizsla Silver has completed over 350,000 metres of drilling at Panuco leading to the discovery of several
new high-grade veins. For 2024, Vizsla Silver has budgeted +30,000 metres of resource/discovery-based drilling designed to upgrade
and expand the mineral resource, as well as test other high priority targets across the district.
Qualified Person
In accordance with NI 43-101, Jesus Velador, Ph.D.
MMSA QP., Vice President of Exploration, is the Qualified Person for the Company and has reviewed and approved the technical and scientific
content of this news release.
Information Concerning Estimates of Mineral Resources
The scientific and technical information in this news
release was prepared in accordance with NI 43-101 which differs significantly from the requirements of the U.S. Securities and Exchange
Commission (the "SEC"). The terms "measured mineral resource", "indicated mineral resource" and "inferred
mineral resource" used herein are in reference to the mining terms defined in the Canadian Institute of Mining, Metallurgy and Petroleum
Standards (the "CIM Definition Standards"), which definitions have been adopted by NI 43-101. Accordingly, information contained
herein providing descriptions of our mineral deposits in accordance with NI 43-101 may not be comparable to similar information made public
by other U.S. companies subject to the United States federal securities laws and the rules and regulations thereunder.
You are cautioned not to assume that any part or all
of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards, "inferred mineral resources"
are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence
and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral
resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve.
However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with
continued exploration. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility
studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically
or legally mineable. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however,
the SEC normally only permits issuers to report mineralization that does not constitute "reserves" by SEC standards as in place
tonnage and grade without reference to unit measures.
Canadian standards, including the CIM Definition Standards
and NI 43-101, differ significantly from standards in the SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted new mining
disclosure rules under subpart 1300 of Regulation S-K of the United States Securities Act of 1933, as amended (the "SEC Modernization
Rules"), with compliance required for the first fiscal year beginning on or after January 1, 2021. The SEC Modernization Rules replace
the historical property disclosure requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC Modernization
Rules, the SEC now recognizes estimates of "measured mineral resources", "indicated mineral resources" and "inferred
mineral resources". Information regarding mineral resources contained or referenced herein may not be comparable to similar information
made public by companies that report according to U.S. standards. While the SEC Modernization Rules are purported to be "substantially
similar" to the CIM Definition Standards, readers are cautioned that there are differences between the SEC Modernization Rules and
the CIM Definitions Standards. Accordingly, there is no assurance any mineral resources that the Company may report as "measured
mineral resources", "indicated mineral resources" and "inferred mineral resources" under NI 43-101 would be the
same had the Company prepared the resource estimates under the standards adopted under the SEC Modernization Rules.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
SPECIAL NOTE REGARDING FORWARD LOOKING STATEMENTS
This news release
includes certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform
Act of 1995 and "forward-looking information" under applicable Canadian securities laws. When used in this news release,
the words "anticipate", "believe", "estimate", "expect", "target", "plan",
"forecast", "may", "would", "could", "schedule" and
similar words or expressions, identify forward-looking statements or information. These forward-looking statements or information
relate to, among other things: the exploration, development, and production at the Panuco Project and the San Enrique prospect, including
the potential acquisition of a multispectral World View III satellite image covering the whole Panuco and San Enrique claims and the
conduct of regional recognizance-mapping and a stream-sediment geochemical survey at San Enrique.
Forward-looking
statements and forward-looking information relating to any future mineral production, liquidity, enhanced value and capital markets
profile of Vizsla Silver, future growth potential for Vizsla Silver and its business, and future exploration plans are based on management's
reasonable assumptions, estimates, expectations, analyses and opinions, which are based on management's experience and perception of
trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances,
but which may prove to be incorrect. Assumptions have been made regarding, among other things, the price of silver, gold, and other metals;
costs of exploration and development; the estimated costs of development of exploration projects; Vizsla Silver's ability to operate
in a safe and effective manner and its ability to obtain financing on reasonable terms.
These statements reflect Vizsla Silver's respective
current views with respect to future events and are necessarily based upon a number of other assumptions and estimates that, while considered
reasonable by management, are inherently subject to significant business, economic, competitive, political and social uncertainties and
contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different
from the results, performance or achievements that are or may be expressed or implied by such forward-looking
statements or forward-looking information and Vizsla Silver has made assumptions and estimates based on or related to many of these factors.
Such factors include, without limitation: the Company's dependence on one mineral project; precious metals price volatility; risks associated
with the conduct of the Company's mining activities in Mexico; regulatory, consent or permitting delays; risks relating to reliance on
the Company's management team and outside contractors; risks regarding mineral resources and reserves; the Company's inability to obtain
insurance to cover all risks, on a commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate
sufficient cash flow from operations; risks relating to project financing and equity issuances; risks and unknowns inherent in all mining
projects, including the inaccuracy of reserves and resources, metallurgical recoveries and capital and operating costs of such projects;
contests over title to properties, particularly title to undeveloped properties; laws and regulations governing the environment, health
and safety; operating or technical difficulties in connection with mining or development activities; employee relations, labour unrest
or unavailability; the Company's interactions with surrounding communities and artisanal miners; the Company's ability to successfully
integrate acquired assets; the speculative nature of exploration and development, including the risks of diminishing quantities or grades
of reserves; stock market volatility; conflicts of interest among certain directors and officers; lack of liquidity for shareholders
of the Company; litigation risk; and the factors identified under the caption "Risk Factors" in Vizsla Silver's management
discussion and analysis. Readers are cautioned against attributing undue certainty to forward-looking
statements or forward-looking information. Although Vizsla Silver has attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause results not to be anticipated, estimated or intended. Vizsla Silver
does not intend, and does not assume any obligation, to update these forward-looking statements or forward-looking information
to reflect changes in assumptions or changes in circumstances or any other events affecting such statements or information, other than
as required by applicable law.
SOURCE Vizsla Silver Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2024/03/c8480.html
%CIK: 0001796073
For further information: For more information and to sign-up to
the mailing list, please contact: Michael Konnert, President and Chief Executive Officer, Tel: (604) 364-2215, Email: info@vizslasilver.ca,
Website: www.vizslasilvercorp.ca
CO: Vizsla Silver Corp.
CNW 19:00e 03-MAY-24
Vizsla Silver (AMEX:VZLA)
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Vizsla Silver (AMEX:VZLA)
Gráfica de Acción Histórica
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