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Vizsla Silver Provides Further Update on Acquisition of Large Claim Package Along Highly Prospective Structural Trend, South of Panuco
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
About this update from Vizsla Silver Corp.
[{"type":"text","content":" 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 a...