Elevated Silver Prices Shine Light on Bonanza-Grade Silver Discoveries in Mexico
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NEW YORK, Oct. 1, 2020 /PRNewswire/ -- Silver has been consistently outperforming gold this year, creating some serious excitement around the silver market and the companies operating in prolific regions. Although silver has come down from its high of $29.85, it's still up over 75% since the beginning of the year at $23.50 and could go higher still as investors look for protection against volatile equity markets. The rising prices have resulted in significant investments into the space, along with bonanza-grade silver discoveries, generating exciting opportunities for silver mining companies like Vizsla Resources Corp. (TSXV:VZLA) (OTCQB:VIZSF), First Majestic Silver Corp (NYSE:AG) (TSX:FR), Pan American Silver Corp (TSX:PAAS) (NASDAQ:PAAS), Coeur Mining (NYSE:CDE), and Fortuna Silver Mines Inc. (NYSE:FSM) (TSX:FVI).
Junior miner Vizsla Resources Corp. (VZLA.V) (VIZSF.QB) is proving itself as a force to be reckoned with in the space after announcing three sets of impressive high-grade silver drill results from its Panuco silver-gold project in Sinaloa over the last month. The company also received a C$10 million investment from Eric Sprott during a private placement financing at the end of July.
Uncovering Bonanza-Grade Silver in Mexico
Mexico is the top silver producing country in the world, responsible for nearly 23% of world production and more than 200 million ounces in 2019. In addition to its world-class mineral wealth, the country offers a regulatory environment that is highly favorable to the mining industry. In 2020, the 'last great silver district' in the country was consolidated for the first time by Vizsla Resources Corp.
After sampling high-grade silver at the Panuco silver-gold project, Vizsla commenced a drill program that will include up to 31,000 meters of drilling in 2020 and the company has continued to uncover promising results ever since.
Vizsla Resources Corp. has continued to turn out exciting discoveries at Panuco, starting with a high-grade discovery of 8,078 g/t silver equivalent (1,808.2 g/t silver, 66.8 g/t gold, 2.99% lead and 3.30 % zinc) over 6.0m from 69.0, including 12,992 g/t silver equivalent (2,889.2 g/t silver, 107.9 g/t gold, 4.80% lead and 4.56 % zinc) over 3.7m from 69.5m, including 21,034 g/t silver equivalent (2,240.0 g/t silver, 199.0 g/t gold, 12.85% lead and 3.27% zinc) over 0.85m from 72.35m. A month later, the company reported drilling 421 g/t silver equivalent (231.0 g/t silver and 2.19 g/t gold) over 6.75 meters from 286.40 meters including 1,245 g/t silver equivalent (821.0 g/t silver and 5.08 g/t gold) over 1.5m from 286.4 m. Then on August 27, Vizsla Resources Corp. announced its third discovery on the property after drilling 1,019 silver equivalent (689.5 grams per tonne (g/t) silver, 3.76 g/t gold) over 2.5 meters from 141.5 meters including 2,206 g/t silver eq.
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