In this KE Report company update, I’m joined by Mike Pettingell, Senior Vice President of Business Development and Strategy at Vizsla Silver (TSX: VZLA, NYSE: VZLA), to break down the company’s expansive exploration strategy and its ambitions beyond the current Copala resource.

Key Focus: True Exploration, Resource Expansion, and the Hunt for “Project 2”

Highlights from the conversation include:

• 2025 Drill Campaign:
  Vizsla is in the midst of a 25,000-meter exploration-focused drill program, with 8,000 meters already completed. This is not infill or extensional – this is true exploration aimed at uncovering new centers of mineralization across the broader Panuco district.
  
  
• Project One – Resource Growth Near Copala:
  
  
  • Focus on shallow, high-grade targets near the Copala and Napoleon corridors, which could improve early cash flow in the upcoming feasibility study.
    
    
  • Drilling from underground platforms is planned to efficiently test high-potential zones.
    
    
• Proximal and Near-Mine Targets:
  
  
  • Areas like San Peter, San Jack, and La Luisa sit within haulage distance to the proposed mill and could be fast-tracked into future mine plans if successful.
    
    
• Project 2 – District-Scale Discovery Upside:
  
  
  • Follow-up drilling is underway at Animas (6m @ 900 g/t AgEq) and Camelia-San Dimas – targets located in the central and eastern parts of the district.
    
    
  • These areas are higher up in the system geologically and could host large, standalone systems.
    
    
• New Greenfield Projects – Santa Fe, San Enrique, La Garra:
  
  
  • Recently acquired and historically mined, these properties are now being evaluated for new resource potential.
    
    
  • Santa Fe is the priority, with a permitted 350 tpd mill on-site. Vizsla aims to fast-track a 43-101 resource using legacy data and internal expertise.
    
    
• Exploration Budget:
  Vizsla plans to spend ~$20 million on exploration this year, with flexibility to expand based on drill success.
  
  

If you have any follow up questions for Mike please email me at Fleck@kereport.com. 

Click here to visit the Vizsla website to learn more about the Company.

Figure 1: Copala mineral resources seen on longitudinal section and showing potential high grade mineralization extending close to surface (blue ellipses).

Figure 2: Plan map of the Panuco property highlighting resource extension (purple circle) and proximal exploration targets in the west (orange circle). The blue wavy lines in the west represent the recently completed ground HLEM survey lines.

Figure 3: Plan map of the Panuco property highlighting high priority district-wide targets in the central-northeast areas (blue circles). Blue wavy lines in the west represent the ground HLEM survey lines in the west area. Main veins with mineral resources in the west are also shown.