Vizsla Silver has reached an agreement to acquire the La Garra-Metates district, a past-producing area located in the Panuco – San Dimas corridor in Mexico.
The La Garra-Metates District, situated 108km northeast of Mazatlan in Sinaloa, Mexico, includes 16 claims spanning 16,962ha.
This district is around 32km north-northwest of the Panuco Project and 32km south-southwest of San Dimas, positioning it within a prolific mining region. The site has been privately held for over six decades.
Preliminary reconnaissance work by Vizsla Silver’s geologists identified the presence of at least two significant vein systems.
These systems exhibit strike lengths of 2.6km and 1.8km and carry notable silver and gold grades.
Geological setting of the La Garra-Metates district is similar to that of the nearby Panuco Project and San Dimas, featuring N-NNW-trending silver-gold-rich veins.
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By GlobalData
The two main vein systems known to date are the north-south trending La Garra and the northwest trending Cerro Verde – Las Playas vein system.
Vizsla Silver plans to leverage its experienced team in Mexico to expedite the permitting and exploration processes at the La Garra-Metates District.
The company’s expertise in the region is expected to facilitate a swift commencement of these critical development stages.
Vizsla Silver president and CEO Michael Konnert said: “Vizsla Silver has agreed to acquire another highly prospective precious metals rich district in the Sinaloa Silver Belt, marking the first time that the La Garra-Metates District has ever been in a public company.
“The consolidation and acquisition of a vastly under-explored, past-producing district in the state of Sinaloa is an excellent addition to our portfolio and demonstrates our strength in the region.
“Similar to our flagship Panuco Project, which represents one of the largest, undeveloped, high-grade silver primary assets globally, La Garra hosts sub-vertical structures reminiscent of Vizsla Silver’s Napoleon vein, as well as flat-lying structures like Copala.
“We believe we have the potential to build a multi-generational asset base and become a globally significant producer of silver in Sinaloa.”
Earlier this year, Vizsla Silver acquired 16,008ha of exploration territory, thereby expanding its Woodjam copper-gold project in British Columbia, Canada.
