Vizsla Silver To Substantially Improve its ESG Results

Vizsla Silver provided an update on its environmental, social and governance (ESG) initiatives, especially those involving key partnerships. The company also provided an update on its exploration campaign at the Panuco project in Sinaloa, highlighting the progress it has made.

The company has made significant progress on its ESG initiatives through its recent partnership with MetaVu and Blockhead Technologies, which are creating an ESG-reporting platform for all Inventa Capital companies. Vizsla is expected to be the first player to use the new platform that the company expects will improve its practices regarding environmental management, social obligations and good governance.

Vizsla's main commitments include impacting the environment as little as possible and finding solutions to leave the land it operates on in optimal conditions. Accountability and transparency with stakeholders, host communities and ejidos, promoting long-term initiatives that will benefit communities and creating a safe and healthy work environment are also of the essence for the approach.

“Since day one, Vizsla has been committed to making ESG best practices a priority in everything we do. Our newly formed partnership with leading industry experts MetaVu and Blockhead demonstrates our dedication to enhance and formalize our ESG practices which will put us on track to releasing Vizsla’s first Sustainability Report in the first half of 2023,” said Michael Konnert, CEO, Vizsla Silver.

The company's main ESG achievements so far include no lost-time incidents for 560 consecutive days, consisting of 833,000 work hours completed. In addition, Minera CANAM, a subsidiary of Vizsla, received the Socially Responsible Company award in August 2022. To date, the company has signed 30-year exploitation contracts with three of the five ejidos near the Panuco project, and 70 percent of its workforce is from the local community.

Vizsla also provided an update on its project’s drilling campaign, highlighting that currently, six rigs are focused on expanding resources at Copala and Napoleon. Additionally, three rigs continue to target high-priority zones throughout the project to unlock discoveries. The company has drilled 100,000m since March. These results will be added to the planned resource update by the end of 2022.

The district-scale Panuco epithermal silver-gold vein project covers 9,386.5ha in Sinaloa. The property has a long mining history: its first silver production occurred in the 16th century and it has been in production intermittently ever since. The project has more than 20 veins, of which several have demonstrated high silver and gold grades. Konnert told MBN that the Panuco project is the consolidation of a district-scale land package, comparable in size and geology to First Majestic’s San Dimas mine.