Vizsla Silver Acquires Fresnillo Claims Near Panuco

Vizsla Silver has announced that it has entered into an agreement to acquire 10 mining claims totaling 2,378ha from Fresnillo, located along the Panuco-San Dimas corridor. As consideration for the transaction, Vizsla Silver will pay US$2 million in cash and issue US$4 million in common shares to Fresnillo.

Seven of the 10 claims, totaling 1,734ha, are considered strategic as they are directly adjacent to Vizsla’s Panuco project and cover highly prospective areas, including potential extensions of veins with known mineralization. The acquired claims include several targets with exploration potential linked to established mineralized structures. 

“With this acquisition, we now have more prospective ground adjacent to our flagship Panuco project to continue exploring,” stated Michael Konnert, President and CEO. “The Strategic Claims host past production along a trend of known mineralized structures, several of which are included in the recently announced Panuco Feasibility Study. The acquisition of the Claims provides our team with new high-priority targets, which, pending exploration success, not only have the potential to grow the overall resource base but also bolster mine economics in future mine updates and technical studies.”

Mergers and Acquisitions in Mexico

Vizsla Silver’s acquisition is part of Mexico’s 2025 mining M&A activity, highlighting ongoing consolidation and strategic moves by major and mid-tier miners.

In November, Mexican Gold Mining announced the acquisition of full ownership of certain mineral titles and associated rights covering 3,824.3585ha at the Tatatila Project in Veracruz, Mexico. This acquisition was completed under a mining concessions assignment agreement with its subsidiary Roca Verde Exploración and Chesapeake Gold, along with its subsidiaries Minerales El Prado, and Chesapeake México.

Alongside Mexican Gold, Pan American Silver completed its US$2.1 billion acquisition of MAG Silver, significantly increasing its exposure to high-grade silver through MAG’s 44% stake in the Juanicipio Mine in Zacatecas, one of Mexico’s premier silver-gold operations. Meanwhile, Torex Gold secured full ownership of the Los Reyes gold-silver project in Sinaloa through a US$327 million takeover of Prime Mining. Los Reyes is a development-stage asset with over 1.5Moz of gold in indicated resources, allowing Torex to expand its operational footprint and diversify its resource base.

In September, First Majestic Silver announced its plan to acquire Gatos Silver in an all-stock transaction valued at US$970 million, uniting the assets of both companies across three silver-producing districts. Gatos’ Cerro Los Gatos mine will join First Majestic’s portfolio alongside the San Dimas mine in Durango and the Santa Elena operation in Sonora. The Los Gatos district comprises 14 identified mineralized zones, including three silver-lead-zinc deposits: the Cerro Los Gatos mine, the Esther deposit, and the Amapola deposit.

Despite these headline transactions, the overall value of M&As in the mining sector has declined. According to Bloomberg, in 2024, mining M&A deals have seen a 94% drop compared to 2023, noted Todd Sibilla, Commodity Applications Specialist at Bloomberg, during a conference. Experts note that some M&A deals face government scrutiny, potentially blocking foreign acquisitions. Additionally, rising metal prices and improved technology are driving redevelopment of old mines, but Carolyn McIntosh, Partner, Squire Patton Boggs, cautions that buyers may inherit environmental remediation liabilities, making careful assessment essential in M&A transactions.