VANCOUVER, BC, Jan. 16,
2024 /CNW/ - Vizsla Copper Corp. (TSXV: VCU)
(OTCQB: VCUFF) (FRANKFURT: 97E0)
("Vizsla Copper" or the "Company") is pleased to
announce it has acquired, or has agreed to acquire, an additional
16,008 hectares of prospective exploration ground contiguous with
the Company's Woodjam Copper-Gold Project (the "Woodjam
Project"). A majority of the additional claims were acquired
via low-cost staking, while a small portion are to be purchased
from an arm's length vendor.
HIGHLIGHTS
- Expansion of Flagship Woodjam Project: With the
addition of these claims, the Woodjam Project will cover 90,163
hectares of prospective southern Quesnel Terrane.
- Prospective Geology: The newly staked claims are
largely underlain by intrusive rocks of the Takomkane batholith,
which hosts porphyry-related copper-gold mineralization at the
nearby Southeast deposit. The purchased claims are largely
underlain by Nicola Gp. volcaniclastic rocks.
"I am pleased that we've been able to add over 16,000
hectares of prospective geology to the Woodjam Project area,"
commented Steve Blower, Vice
President of Exploration. "High-grade gold and zinc
mineralization outcrops on the purchased claims and the newly
staked claims extend the Woodjam property over highly prospective
and underexplored geology covered by a thin mantle of glacial
till. We intend to explore both of these areas in
2024."
The Claims
The claims to be purchased (see Figure 1) total 1,226 hectares
and cover a zone of outcropping quartz-carbonate veins in Nicola
volcaniclastic rocks with high-grade sphalerite and gold
mineralization. Grab samples collected by Vizsla Copper
contain up to 26.8% Zn and 9.01 g/t Au over thicknesses estimated
to be 0.2 metres, summarized in Table 1 below. No known drill
holes have been completed in the area and Vizsla Copper will
complete detailed geological, ground geophysical and surficial
geochemistry surveys to develop drill targets.
Table 1: Rock
chip assays from purchased claims.
|
Sample
|
Ag
g/t
|
Au
g/t
|
Cu %
|
Zn %
|
C00367757
|
244.0
|
9.01
|
1.54
|
10.8
|
C00367758
|
3.2
|
3.20
|
0.67
|
26.8
|
C00367759
|
0.6
|
0.57
|
0.14
|
7.6
|
C00367760
|
3.1
|
3.10
|
0.66
|
19.0
|
C00367761
|
1.3
|
1.30
|
1.01
|
23.4
|
These claims will be acquired from an arms-length vendor for
200,000 common shares of Vizsla Copper. The claims will be subject
to a 2.0% net smelter returns royalty, of which Vizsla Copper has
the right to purchase 1.0% (one-half) for $1.0 million in cash. The acquisition is subject
to standard closing conditions, including the approval of the TSX
Venture Exchange (the "TSXV"), and should close in the
coming weeks.
The newly staked claims have an area of 14,782 hectares and are
in two blocks contiguous with the southern end of the Woodjam
Project. They are largely underlain by intrusive rocks of the
Takomkane batholith, the same intrusive complex that hosts the
large Southeast porphyry related copper-gold deposit at the Woodjam
Project. Outcrop is rare in the area, particularly in the
western block, where the highly prospective Takomkane margin is
hidden by a mantle of unconsolidated glacial till.
Geophysical and soil geochemical surveys will be required to
develop drill targets here.
Figure 1 – Woodjam New Claims Location
The Woodjam Project
The 90,163-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 easily 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, 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. These six
mineralized zones form a cluster approximately 5 kilometres in
diameter.
In 2023 Vizsla Copper completed a total of 7,599 metres in 18
holes, successfully extending the Deerhorn and Takom deposits while
also intersecting the strongest mineralization to date at the
Megaton zone.
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 three additional copper exploration properties: Copperview,
Redgold 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 it 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.sedarplus.ca) and the Company's website
(www.vizslacopper.com).
QA/QC
Samples were submitted to ALS Canada Ltd.'s preparation site in
Kamloops, BC before being shipped
to the ALS analytical laboratory in North
Vancouver, BC. Each sample was fine crushed before a 250 g
split was pulverized with greater than 85% passing 75 microns.
Samples were analysed using ALS's 30 g Fire Assay Fusion method
(Au-ICP21) with an ICP-AES finish for gold, and with a 48-element
four-acid digest method (ME-MS61) with an ICP-AES/MS finish.
Overlimit values for copper, silver, and zinc were determined using
the ME-OG62 method, which involves a four-acid digest followed by
an ICP-AES finish.
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: completion of the acquisition of mineral claims; the
Company's growth and business strategies; and the exploration and
development of the Company's properties.
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.