Vizsla Silver Corp awarded EPCM and mine-design contracts for its Panuco silver-gold project in Sinaloa, Mexico, on April 23, 2026 [4].
These agreements signal a transition from exploration to active development for the company. By securing technical partners to manage engineering and design, Vizsla Silver aims to increase production capacity and bring its Mexican assets into operation.
The total value of the awarded contracts is $220 million [2]. This figure includes a $170 million EPCM contract [3] and a $50 million mine-design contract [3]. The company has engaged M3 Engineering & Technology and Mining Plus to execute these works [1].
This development follows a period of strong market performance for the company. Shares of Vizsla Silver have risen more than 60% in the past year [1]. The company is listed on the Toronto Stock Exchange as VZLA-A and on the NYSE American as VZLA [1].
The Panuco project is located in the state of Sinaloa, where the company is targeting silver and gold deposits [1]. The EPCM, or Engineering, Procurement, Construction Management, phase is critical for establishing the infrastructure required to extract minerals efficiently.
By splitting the awards between specialized engineering and mine design, the company is structuring the project to address both the physical build and the strategic layout of the mine [2]. These steps are necessary to move the project toward a final investment decision and subsequent production.
“The total value of the awarded contracts is $220 million.”
The commitment of $220 million in contracts indicates that Vizsla Silver is moving beyond the speculative phase of exploration and into the capital-intensive stage of mine construction. The correlation between the stock's 60% increase and these project milestones suggests investor confidence in the company's ability to execute its development plan in Mexico.
