Vizsla Silver Corp. (TSX: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) has awarded key contracts supporting development of its Panuco silver-gold project in Mexico, according to reporting by Abdul Rahman for Insider Monkey. The company selected M3 Engineering for engineering, procurement and construction management services and Mining Plus for mine design and development work tied to the project's pre-production phase.
Vizsla Silver said the appointments mark another milestone in advancing the Panuco project, which a November 2025 feasibility study projected could produce an average of 17.4 million ounces of silver equivalent annually over at least nine years. Shares of the company have climbed more than 60% over the past year as investors continue to monitor progress at the high-grade silver and gold asset in Sinaloa, Mexico.
The significance of these contract awards lies in their impact on the project's timeline and investor confidence. By securing experienced firms like M3 Engineering and Mining Plus, Vizsla Silver is de-risking the development phase and moving closer to production. The feasibility study's robust economics—an after-tax NPV (5%) of US$1.8B, a 111% IRR, and a 7-month payback at US$35.50/oz silver and US$3,100/oz gold—underscore the project's potential to generate substantial returns. For investors, the stock's 60%+ gain reflects growing confidence that Panuco will become a leading primary silver producer.
Vizsla Silver is concurrently advancing mine development and district-scale exploration. The Panuco project is 100% owned and located in Sinaloa, Mexico, a jurisdiction with a strong mining history. The company's strategy focuses on both near-term production and long-term resource expansion, which could further enhance project economics.
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The contract awards and positive feasibility study position Vizsla Silver as a compelling story in the precious metals space. With silver prices remaining strong and gold near record highs, the Panuco project's high-grade nature could provide significant leverage to metal prices. Investors will be watching for further updates on construction timelines and exploration results.
