VANCOUVER, BC, June 12,
2023 /CNW/ - Vizsla Copper Corp. (TSXV: VCU)
(OTCQB: VCUFF) (FRANKFURT:
97E0) ("Vizsla Copper" or the "Company") is pleased
to announce the signing of an option agreement (the "Option
Agreement") with Trailbreaker Resources Ltd.
("Trailbreaker"), pursuant to which the Company has been
granted the option to acquire a 100% interest in 6,482 hectares of
land contiguous with the Company's Woodjam Project.
HIGHLIGHTS
- Expansion of Flagship Woodjam Project: With the addition
of these claims, the Woodjam Project has grown significantly to
72,805 hectares of prospective southern Quesnel Terrane.
- Prospective Geology: These new claims are underlain by
intrusive rocks belonging to the Takomkane batholith, which hosts
the large porphyry-related copper-gold Southeast deposit on the
Woodjam property.
"These claims are a terrific addition to the Woodjam
Project," commented Steve
Blower, Vice President of Exploration. "They are proximal
to porphyry-related copper-gold deposits and share similar
geology. Work on the Trailbreaker claims will be a high
priority for the Company going forward."
The Claims
The four claims that are subject to the Option Agreement are
contiguous with the southern edge of the Woodjam Project and cover
a total of 6,482 hectares. The geology underlying the claims
consists predominantly of till covered intrusive rocks belonging to
the early Jurassic Takomkane batholith, host to the nearby
Southeast copper-gold porphyry-related deposit at the Woodjam
Project. Given the prospective geology, the new claims will be a
high priority for upcoming exploration programs at the Woodjam
Project.
Terms of Option
Agreement
Pursuant to the Option Agreement, Vizsla Copper has the option
to acquire a 100% interest in the four claims by issuing an
aggregate of 400,000 common shares to Trailbreaker over three
years, subject to approval by the TSX Venture Exchange. Vizsla
Copper has the right to accelerate the option any time after the
first anniversary.
The optioned claims will be subject to a 2% net smelter return
royalty ("NSR"). Trailbreaker and Teck Resources Limited will
retain a 1% NSR each on three of the claims and Trailbreaker will
retain a 2% NSR on the fourth claim. Half of the 1% NSR may be
bought from Trailbreaker for $500,000. Half of the 2% NSR may be bought from
Trailbreaker for $1,000,000.
Figure 1 – Woodjam New Claims Location
The Woodjam Project
The 72,805-hectare Woodjam Project is located 55 kilometres east
of the community of Williams Lake
in an area characterized by a low elevation, flat to gently
undulating landscape that is well accessed by logging roads.
Geologically, the Woodjam Project is located within the prolific
Quesnel Terrane – a large regional depositional belt commonly
dominated by alkalic volcanic units and related volcaniclastic
lithologies. The Quesnel terrane
hosts both alkaline and calc-alkaline porphyry
copper+/-gold+/-molybdenum deposits, including the Copper Mountain,
New Afton, Highland Valley, Gibraltar, Mount Polley, Mount Milligan and
Kemess mines.
To date, six zones of porphyry-related mineralization (Megabuck,
Deerhorn, Takom, Three Firs, Southeast, Megaton) have been
identified at the Woodjam Project by drilling (95,092 metres in 281
holes since 2009 and a further 114 holes, 30,092 metres
predominantly from 1998). These six mineralized zones form a
cluster approximately 5 kilometres in diameter.
About Vizsla Copper
Vizsla Copper is a Cu-Au-Mo focused mineral exploration and
development company headquartered in Vancouver, Canada. The Company is focused on
its flagship Woodjam project, located within the prolific Quesnel
Terrane, 55 kilometers east of the community of Williams Lake, British Columbia. It has two
additional copper exploration properties, the Blueberry and
Carruthers Pass projects, well
situated amongst significant infrastructure in British Columbia. The Company's growth
strategy is focused on the exploration and development of its
copper properties within its portfolio in addition to value
accretive acquisitions. Vizsla Copper's vision is to be a
responsible copper explorer and developer in the stable mining
jurisdiction of British Columbia,
Canada and is committed to socially responsible exploration
and development, working safely, ethically and with integrity.
Vizsla Copper is a spin-out of Vizsla Silver (TSX.V: VZLA)
(NYSE: VZLA) and is backed by Inventa Capital Corp., a premier
investment group founded in 2017 with the goal of discovering and
funding opportunities in the resource sector. Additional
information about the Company is available on SEDAR (www.sedar.com)
and the Company's website (www.vizslacopper.com).
Qualified Person
The Company's disclosure of technical or scientific information
in this press release has been reviewed and approved by
Ian Borg, P.Geo., Senior Geologist
for Vizsla Copper. Mr. Borg is a Qualified Person as defined under
the terms of National Instrument 43-101.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
FORWARD LOOKING
STATEMENTS
The information contained herein contains "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and "forward-looking
information" within the meaning of applicable Canadian securities
legislation. "Forward-looking information" includes, but is not
limited to, statements with respect to the activities, events or
developments that the Company expects or anticipates will or may
occur in the future, including, without limitation, planned
exploration activities. Generally, but not always, forward-looking
information and statements can be identified by the use of words
such as "plans", "expects", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "believes"
or the negative connotation thereof or variations of such words and
phrases or state that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved" or the negative connotation thereof. Forward-looking
statements in this news release include, among others, statements
relating to: obtaining the required approvals; satisfying the
requirements of the Option Agreement; the exploration and
development of the Woodjam Project; and the Company's growth and
business strategies.
Such forward-looking information and statements are based on
numerous assumptions, including among others, that the results of
planned exploration activities are as anticipated, the anticipated
cost of planned exploration activities, that general business and
economic conditions will not change in a material adverse manner,
that financing will be available if and when needed and on
reasonable terms, that third party contractors, equipment and
supplies and governmental and other approvals required to conduct
the Company's planned exploration activities will be available on
reasonable terms and in a timely manner. Although the assumptions
made by the Company in providing forward-looking information or
making forward-looking statements are considered reasonable by
management at the time, there can be no assurance that such
assumptions will prove to be accurate.
Forward-looking information and statements also involve known
and unknown risks and uncertainties and other factors, which may
cause actual events or results in future periods to differ
materially from any projections of future events or results
expressed or implied by such forward-looking information or
statements, including, among others: negative operating cash flow
and dependence on third party financing, uncertainty of additional
financing, no known mineral reserves or resources, the limited
operating history of the Company, the influence of a large
shareholder, aboriginal title and consultation issues, reliance on
key management and other personnel, actual results of exploration
activities being different than anticipated, changes in exploration
programs based upon results, availability of third party
contractors, availability of equipment and supplies, failure of
equipment to operate as anticipated; accidents, effects of weather
and other natural phenomena and other risks associated with the
mineral exploration industry, environmental risks, changes in laws
and regulations, community relations and delays in obtaining
governmental or other approvals.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in the forward-looking information or implied by
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that forward-looking information and statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated, estimated or
intended. Accordingly, readers should not place undue reliance on
forward-looking statements or information. The Company
undertakes no obligation to update or reissue forward-looking
information as a result of new information or events except as
required by applicable securities laws.
SOURCE Vizsla Copper Corp.