(VZLA-TSX-V)
VANCOUVER, BC, July 26, 2021
/CNW/ - Vizsla Silver Corp. (TSXV: VZLA) (OTCQB:
VIZSF) (Frankfurt:
0G3) ("Vizsla" or the "Company") announces that due
to an increase of COVID-19 risk in the local municipality in which
Vizsla operates, the Company has decided to temporarily suspend
drilling at its Panuco project in
Mexico for two weeks.
President and CEO Michael Konnert
stated, "Vizsla's top priority remains the health and safety of
both our team and the communities in which we work. This
current wave of the COVID-19 virus is the most significant
experienced to date in southern Sinaloa. As such, the Company feels it is
prudent to play its role in helping to minimize the potential risk
of transmission. A temporary, two-week pause of all activities,
including drilling at Panuco, has
commenced and travel to and from site halted. Since the start of
the year, we have had tremendous success at the drill bit,
significantly expanding the mineralized footprint at both Napoleon
and Tajitos, while simultaneously
advancing new targets in the greater district. Our team will put
this two-week period to good use for safety training, desktop
review(s) and critical analysis of our exploration work program
completed to date."
Vizsla has implemented enhanced COVID-19 protocols and
preventative measures to mitigate the spread of COVID-19 to protect
its employees, contractors, their families, and surrounding
communities. Vizsla continues to follow the Government of
Mexico's COVID-19 infection
prevention guidance and is working in close partnership with
several departments of the Sinaloa State Government. Following a
precautionary two-week pause, Vizsla will reassess the situation
and look to restart drilling as it is safe to do so.
To date, the Company has completed 85,000m of drilling in 333 holes from its
ongoing, fully-funded resource/discovery-based drill program at
Panuco. With a significant number
of assay results still pending, Vizsla expects to maintain
consistent news flow over the coming weeks and months.
About Vizsla Silver
Vizsla is a Junior mineral exploration and development company
focused on advancing its flagship, 100%-owned Panuco silver-gold project located in
Sinaloa, Mexico.
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 restart of drilling
activities; the development of Panuco, including drilling programs and
mobilization of drill rigs; and future mineral exploration,
development and production; and the dissemination of news releases
over the coming weeks and months.
Forward–looking statements and forward–looking information
relating to any future mineral production, liquidity, enhanced
value and capital markets profile of Vizsla, future growth
potential for Vizsla 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; no escalation in the severity of the
COVID-19 pandemic; costs of exploration and development; the
estimated costs of development of exploration projects; Vizsla's
ability to operate in a safe and effective manner and its ability
to obtain financing on reasonable terms.
These statements reflect Vizsla'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 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; the ability of the communities in
which the Company operates to manage and cope with the implications
of COVID-19; the economic and financial implications of COVID-19 to
the Company; 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's
management discussion and analysis. Readers are cautioned against
attributing undue certainty to forward–looking statements or
forward-looking information. Although Vizsla 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 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.