Vizsla Copper Completes Airborne Magnetic Survey at Woodjam Copper Project and Reports Results from Carruthers Pass Drilling
VIZSLA COPPER COMPLETES AIRBORNE
MAGNETIC SURVEY AT WOODJAM COPPER
PROJECT AND REPORTS RESULTS FROM
CARRUTHERS PASS DRILLING
VANCOUVER, BC
,
Jan. 11, 2023
/CNW/ - Vizsla Copper Corp. (TSXV: VCU) (OTQB: VCUFF)
("
Vizsla Copper
" or the "
Company
") has kicked off its exploration efforts at the newly acquired
Woodjam Copper Project ("
Woodjam
") with a high-definition aeromagnetic geophysical survey.
Woodjam is prospective for copper and copper-gold porphyry style mineralization and is located 55
km east of
Williams Lake, BC
(Figure 1). Results of a core drilling program at the Carruthers Pass
Project ("Carruthers Pass") are also reported.
"
After many months of waiting, we're thrilled to get started on exploration at Woodjam,"
commented
Steve Blower, Vice President of Exploration.
"This large survey is centered on the main
mineralized corridor and will deliver state-of-the-art magnetics products that will help to
characterize the geology of the area and pinpoint the location of magnetic intrusions that are often
associated with copper-gold porphyry mineralization at Woodjam. At the Carruthers Pass project,
the results of our drilling program continue to demonstrate that the property is highly prospective
for VMS mineralization.
"
The Woodjam Airborne Survey
Precision GeoSurveys Inc. was contracted to fly approximately 3,000line km of helicopter-borne
aeromagnetic, radiometric and VLF-EM surveying over the central mineralized corridor at Woodjam.
This corridor is home to the Deerhorn and Southeast porphyry copper-gold deposits, among others.
Limited drilling programs on the property in 2020 and 2021 intersected up to
110.0m
@ 0.44% Cu
and 2.57 g/t Au
in drill hole DH20-71 at the Deerhorn deposit, and
142.4m
@ 0.56% Cu and 0.23
g/t Au
in drill hole SE21-89 at the Southeast deposit. The high-resolution survey, designed with
flight lines spaced
100m
apart, was completed on
January 2nd
, the data is currently being
processed and the results will be reported in due course. Figure 2 shows the location of the
survey.
The Carruthers Pass Drilling Program
At the Carruthers Pass property, a helicopter supported core drilling program was completed in the
late summer. A total of
1,345m
was drilled in three drill holes (CP22-15,
16B
and 17), plus one
abandoned drill hole (CP22-16). All of the drill holes are located in the Boulder zone and evaluated
new potential sources for the namesake high-grade, massive sulphide boulder located there. The
results from the drill program are encouraging and of particular interest is the discovery of massive
sulphide layers in drill hole CP22-17, within a strong helicopter borne Versatile Time Domain
Electromagnetic (VTEM) conductor. The massive sulphide layers are composed dominantly of
pyrite and/or pyrrhotite, and may represent distal facies of a base metal rich VMS deposit.
Geochemical analyses from drill core samples have been received. Highlights include 2,150 ppm Cu
over
1.0m
from
439.5m
and 2,227 ppm Zn over
2.2m
from
549.5m
in drill hole CP22-
16B
.
Stock Options
A total of 1,825,000 incentive stock options (the "
Options
") have been granted to employees,
officers, directors and consultants of the Company. The Options are exercisable at a price of
$0.265
, have a term of five years, and will vest over a period of 24 months. The Options were
granted pursuant to the Company's incentive stock option plan and are subject to regulatory
approval.
The Projects
Woodjam
The Woodjam Project is located 55 kilometers 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 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 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 kilometers in diameter.
Carruthers Pass
The Carruthers Pass project is located in north central BC and was originally staked to explore for
the source of a large,
5m
x
3m
x
3m
boulder of high-grade copper and zinc massive sulphide
mineralization protruding from a large talus slope. This boulder was first discovered in 1997 by
Phelps Dodge
while following up on a new release of regional geochemical survey results. Thinner
zones of high-grade copper and zinc mineralization were subsequently discovered in place in the
steep cliffs above the boulder and the general area is now known as the Boulder Zone. Massive
sulphide mineralization at the Boulder Zone is thought to belong to the Besshi-type of Volcanogenic
Massive Sulphide deposits. At Carruthers Pass, the shale and volcaniclastic host rocks for the
mineralization belong to the Dewar formation of the Upper Triassic Takla Group. Exploration on the
Project is relatively immature, with only 14 historical drill holes totalling
2,191 m
completed in three
previous drilling campaigns, the last of which was in 2011. This is despite the presence of many
kilometres of inferred sub-crop of the target horizon, and a 5 km long northwesterly trending soil
geochemistry anomaly enriched in copper, zinc and other metals. Vizsla Copper is earning a 60%
interest in the Project from Cariboo Rose Resources Ltd. through a series of cash and share
payments and exploration expenditures over a five-year period that began in 2021.
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
,
and 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
).
Figure 1 – Woodjam Location Map
Figure 1 – Woodjam Location Map (CNW Group/Vizsla Copper Corp.)
Figure 2 – Woodjam Aeromagnetic Survey Location
Figure 2 – Woodjam Aeromagnetic Survey Location (CNW Group/Vizsla Copper Corp.)
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.
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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CO: Vizsla Copper Corp.
CNW 08:00e 11-JAN-23