VANCOUVER, BC, July 5, 2023 /CNW/ - Vizsla Copper Corp. (TSXV: VCU) (OTCQB: VCUFF) (FRANKFURT: 97E0) ("Vizsla Copper" or the "Company") is pleased to announce the start of the summer core drilling program at the Woodjam copper-gold project (the "Woodjam Project" or "Woodjam") in south-central BC.
HIGHLIGHTS
"I'm very pleased that we've begun drilling at Woodjam," commented Craig Parry, Executive Chairman. "The Company is cashed up, we have an excellent exploration team in place and we have an exciting project on which to deploy them. Vizsla Copper is well positioned to benefit from strong copper market fundamentals going forward."
"This drill program and the high-quality targets before us are the result of a great deal of hard work by our exploration team, particularly Ian Borg (Senior Geologist), Colin Bateman (Project Geologist), Chris Leslie (Technical Advisor) and Kyle Patterson (Consulting Geophysicist at Convolutions Geoscience), and their efforts are tremendously appreciated," commented Steve Blower, Vice President of Exploration. "We've been excited to start drilling since we acquired the Project late in 2022 and we look forward to building on the exceptional results generated by the previous operators, Consolidated Woodjam Copper, on this highly prospective project."
This drill campaign will target high-grade copper/gold porphyry-related mineralization in and around the central corridor of known mineralization at Woodjam (Figures 1 and 2). Targets can be categorized into two groups: (1) deposit extensions and, (2) new target areas. Deposit extensions will be evaluated at the Deerhorn and Southeast deposits. Examples of planned drill hole cross-sections at each of these areas are provided as Figures 3 and 4, respectively. Recent drilling at both deposits by Consolidated Woodjam Copper returned some spectacular results, including 123m of 2.49 g/t Au and 0.4% Cu in 2020 drill hole DH20-071 at Deerhorn, and 142.4m of 0.56% Cu and 0.23 g/t Au in 2021 drill hole SE21-089 at Southeast. The current drill program will evaluate the potential to expand this mineralization.
The second group of targets is comprised of new exploration areas not immediately adjacent to known deposits. Targets here are largely based on new geophysical survey results gathered from recent high-definition heli-borne magnetic and Z-Axis Tipper Electromagnetic (ZTEM) surveys completed by Vizsla Copper, which have generated numerous new target areas for evaluation.
Approximately 8,000m of drilling is planned in 16 drill holes. The program will take approximately three months to complete. Samples will be submitted for assay regularly through the program, and results will be disclosed in due course.
Figure 1 – Woodjam Property Map
Figure 2 – Target Area Locations
Figure 3 – Deerhorn Deposit Example Longitudinal Section
Figure 4 – Southeast Deposit Example Cross-Section
The Company would also like to announce that it has granted 3,600,000 incentive stock options to directors, officers, employees, and consultants of the Company. The incentive stock options will vest over a period of two years, have an exercise price of $0.24 per share, and are valid for a 5-year period from the grant date. The options were granted pursuant to the Company's incentive stock option plan are subject to the approval and policies of the TSX Venture Exchange.
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).
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.
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 required regulator approvals for the Copperview Acquisition and the RG Copper Acquisition; satisfying the requirements of the Underlying Option Agreement; the exploration and development of the Woodjam Project, Redgold Project and Copperview 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.
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