Vancouver-based miner Vizsla Silver said on Thursday that two more of its workers have been confirmed dead and that three employees remain unaccounted for following the abduction of 10 staff members in Concordia, Sinaloa. The announcement came as the company reiterated that it is working closely with Mexican authorities while search efforts and a wider investigation remain underway.
The company reported that 10 of its workers were taken from its Panuco project in Mexico late in January. Mexico's attorney general's office said last month that it had located 10 bodies in the municipality of Concordia and that five of those remains had been identified.
In market trading following the update, Vizsla Silver's shares fell by 4% in afternoon session activity. The company did not provide further details about the identities of the newly confirmed deceased workers or the condition and locations of the three still missing.
Authorities have said the group was kidnapped from a silver mine situated in an area security officials describe as being under the control of "Los Chapitos," a faction of the Sinaloa cartel led by the sons of former drug lord Joaquin "El Chapo" Guzman. Vizsla Silver stated it continues to cooperate fully with Mexican authorities as the search and investigation proceed.
The unfolding developments include several distinct elements that remain active: confirmation of additional deaths, outstanding missing employees, the earlier discovery of 10 bodies in Concordia with partial identifications, and law enforcement characterizations of local control by an organized criminal faction. Vizsla Silver's public remarks focused on cooperation with authorities rather than operational or safety changes at the site.
The company and authorities have not provided further operational timelines or additional information about the investigation's next steps. Details about the circumstances of the abduction and subsequent recovery of bodies have not been expanded beyond the statements noted above.
What to watch next
- Further statements from Vizsla Silver or Mexican authorities regarding the identities of the deceased and status of the missing workers.
- Any updates on security conditions at the Panuco project and nearby areas of Concordia.
- Market reactions to subsequent company disclosures or new developments in the investigation.