Panuco - Mexico


Comparable in size and geology to First Majestic’s San Dimas mine, containing more than 20 veins, several of which have demonstrated high silver and gold grades.



Situated off a major highway, in the Sierra Madre epithermal belt, 80 km from First Majestic’s San Dimas mine.


This is the first time the entire district will be consolidated, and it has seen only sparse past exploration.


The district scale camp has substantial infrastructure including roads, permits, power and a skilled workforce in neighbouring towns.

About The Panuco Project

The district-scale Panuco silver-gold epithermal vein project is the consolidation of mining concessions totaling 9,386.5 hectares in a producing mining camp outside of Concordia, Sinaloa. The area’s first silver production occurred in the 1500’s and has been producing intermittently ever since, with steady production over the last several decades.

The property contains many quartz-carbonate veins with workings defining both steeply plunging and sub-horizontal ore shoots. Mineralization occurs as silver sulphides including argentite and acanthite, native gold, electrum and native silver associated with pyrite, minor galena, sphalerite and rare chalcopyrite. Alteration is not well understood though large zones of strong disseminated pyrite alteration extends over one kilometre away from major veins.

Exploration Program

Canam commenced its 6 step systematic exploration work in 2019.

  1. Target identification
  2. First pass Mapping
  3. Detailed Mapping
  4. Initial drilling
  5. Advanced drilling
  6. Resource drilling

The drilling program commenced in December 2019 completing 29,500 metres of core drilling at the end of 2020. The 2021, 90,000 metre, program is currently underway.

The companies exploration process has resulted in the discovery of the high-grade Napoleon and Tajitos ore bodies which are currently in the resource drilling phase. 

Significant intersections from the Vizsla drilling campaigns include;

  • Hole NP-21-07intersecting  5.36 metres true width grading 3,597 g/t Silver Equivalent (816 g/t silver and29.48 g/t gold, 1.36% Pb and 2.12% Zn) from  69.0 metres downhole at Napoleon,
  • Hole NP-21-89 intersecting 10.30 metres true width grading 663.4 g/t Silver Equivalent (355.9 g/t silver and 3.13 g/t gold, 0.80% Pb and 0.81% Zn) from 92.0 metres downhole at Napoleon, and
  • Hole CS-21-21B intersecting 7.94metres true width grading 573 g/t Silver equivalent ( 387 g/t silver and 2.25 g/t gold) from 95 metres downhole at Tajitos.


Harris, S. 2020, Panuco Technical Report

Qualified Person

The scientific and technical information in this website has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and reviewed and approved on Matin Dupuis P.Geo Vice President of Technical Services for Vizsla Silver a Qualified Person as defined by NI 43-101 (the “Qualified Person”). Core drilling, surveying logging, sample preparation, analytical and quality control procedures (including the insertion of blind standards, blanks, pulp and field duplicates into the sample stream) used to produce the results mentioned in the text of this news release are documented in detail in  Harris, (2020). The assaying was done by ALS Chemex using fire-assay methods with a gravimetric finish for gold and four-acid digest for silver followed by fire assaying with both a gravimetric finish and ICP-AES finish.

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