"Although we're eager to resume drilling, the health and safety of our employees and our communities is paramount," president and CEO Michael Konnert said on Friday.

The company expects to start with two rigs on September 1 and ramp up to 10 rigs by month-end as conditions improve but it remains prepared to adjust plans as required.

It's aiming for an initial resource at Panuco in the first quarter of 2022.

The company changed name from Vizsla Resources in February and has spun out its British Columbia copper assets into Vizsla Copper, which is separately aiming to raise C$5 million at 15c per share and 18c per flow-through share.

Vizsla raised $69 million in June after underwriters of a $60 million bought-deal financing exercised their over-allotment option in full.

Units were priced at $2.50.

The company now has about $57 million in cash after its move in July to acquire the Copala property, taking its 100%-owned Panuco silver-gold project to 9,400ha, which includes a mill and 35km of underground mines.

Shares in Vizsla (TSXV: VZLA) gained 1% on Friday to close at C$2, a midpoint in its one-year range, capitalising it about $259 million (US$203 million).