VANCOUVER, BC, June 28,
2023 /CNW/ - Vizsla Copper Corp. (TSXV: VCU)
(OTCQB: VCUFF) (FRANKFURT: 97E0)
("Vizsla Copper" or the "Company") is pleased to
announce that, further to its news releases dated May 12, 2023 and June 20,
2023, it has completed the acquisition (the
"Acquisition") of RG Copper Corp.("RG Copper"). RG
Copper has the right to acquire up to a 70% interest in the Redgold
Copper-Gold Project (the "Redgold Project") pursuant to an
option agreement entered into with the owners of the Redgold
Project.
"I appreciate the hard work from the Vizsla Copper team to
get this transaction across the line efficiently and
cost-effectively," commented Craig
Parry, Executive Chairman. "It was important to close
this transaction ahead of our upcoming drill program at the
adjacent Woodjam project. The Redgold project adds to the
pipeline of strong drill ready targets and will play a significant
role in our future exploration plans in our district-scale
landholdings in the heart of the prolific Quesnel terrain."
The Redgold Project
The Redgold Project consists of 58 mineral claims covering an
area of 8,278 hectares contiguous with Imperial Metals' Mount
Polley project and Vizsla Copper's Woodjam project. A total of 49
drill holes have previously been completed on the Redgold Project
together with numerous geochemical (i.e., rock and soil) and
geophysical (i.e., induced polarization and magnetics) surveys.
Porphyry related copper-gold mineralization was initially
discovered in the early 1970's and over the course of subsequent
exploration programs, at least five zones of copper-gold
mineralization have been discovered. In each of the zones,
copper-gold mineralization is associated with late Triassic to
early Jurassic alkaline monzonite or syenite stocks, dykes or
intrusive breccias. The Redgold Project was most recently explored
by Gold Fields in 2014 and has been largely dormant since. The most
recent drilling was completed by Gold Fields in 2012. Drill hole
RG12-11, drilled at the East Zone, intersected 0.21% Cu and 0.24
g/t Au over 152 metres and cored 85.6 metres of syenite intrusive
breccia, a common host rock for copper-gold ore at the adjacent
Mount Polley mine. Mineralization at the East Zone remains open to
the northeast.
Transaction Details
The Company issued 12,000,000 common shares of the Company (the
"Consideration Shares") to the former shareholders of RG
Copper as consideration for all of the issued and outstanding
shares of RG Copper. The Consideration Shares will be subject to a
four-month hold period pursuant to applicable Canadian securities
laws. In addition, the former shareholders of RG Copper have agreed
to voluntary resale restrictions whereby 25% of the Consideration
Shares will become free trading every six months after closing of
the Acquisition.
Additional details regarding the Acquisition and the Redgold
Copper-Gold Project are set out in the Company's news releases
dated May 12, 2023 and June 20, 2023.
Figure 1: Woodjam and Redgold Property Map
About Vizsla Copper
Vizsla Copper is a Cu-Au-Mo focused mineral exploration and
development company headquartered in Vancouver, Canada. The Company is primarily
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 four additional copper exploration properties: Copperview,
Redgold, Blueberry and Carruthers
Pass, all 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: the exploration and development of the Company's
projects; 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.