Vizsla Copper Expands Woodjam Copper-GOLD Project
VIZSLA COPPER EXPANDS WOODJAM
COPPER-GOLD PROJECT
VANCOUVER, BC
,
May 9, 2023
/CNW/ - Vizsla Copper Corp. (TSXV: VCU) (OTCQB: VCUFF)
(
FRANKFURT
: 97E0) ("
Vizsla Copper
" or the "
Company
") is pleased to announce the amendment
of the Megaton Option Agreement to include an additional 1,061ha of prospective mineral claims
contiguous with the Company's Woodjam Copper-Gold Project (the "
Woodjam Project
").
HIGHLIGHTS
Expansion of Flagship Woodjam Project:
With the addition of these claims, the Woodjam
Project now covers 66,325ha of prospective southern Quesnel Terrane.
Prospective Geology:
New claims are underlain by intrusive rocks of the Takomkane batholith,
which hosts porphyry-related copper-gold mineralization at the nearby Southeast deposit.
"We've prioritized expanding our land position around the Woodjam Project ahead of our initial drill
program,"
commented
Steve Blower
, Vice President of Exploration
. "These claims are proximal to
our historical deposits and display similar geological attributes, adding to the pipeline of fantastic
exploration targets on the Woodjam Project.
"
The Claims
The 1,061ha Megaton Extension mineral claims are immediately east of the Megaton Option/JV
area, just east of the Southeast deposit (see Figure 1). The geology underlying the claims consists
predominantly of till covered intrusive rocks of the early Jurassic Takomkane batholith, host to
copper-gold porphyry-related mineralization at the Southeast deposit. Only one previous drill
program has been completed on the Megaton Extension claims – a cluster of 20, 200 -
300m
long
drill holes was completed in 2008 within a discrete, 400 x
800m
area. Native copper was identified in
several holes, returning intersections up to 0.2% Cu over
14.0m
in drill hole MT08-07A
1
. Given the
presence of widespread copper mineralization hosted in the prospective Takomkane batholith,
together with its close proximity to the Southeast deposit, the Megaton Extension area will be a high
priority for future exploration programs.
Figure 1 – Woodjam New Claims Location
Figure 1 – Woodjam New Claims Location (CNW Group/Vizsla Copper Corp.)
Updated Terms
In consideration for the amendment to the Megaton Option Agreement and subject to TSX Venture
Exchange approval, Vizsla Copper will issue 300,000 common shares to the optionors. Vizsla
Copper has the right to earn up to 100% ownership of the claims by satisfying the payments outlined
in Table 1.
Table 1 – Amended Schedule for Megaton Option Agreement
Cash Payments
Exploration Commitments
Shares
Milestone Date
C$40,000
Nil
Nil
Satisfied
C$50,000
C$250,000
Nil
Satisfied
Nil
C$206,957
450,000
Satisfied
C$60,000
C$124,771
Nil
Satisfied
C$100,000
Nil
Nil
May 6, 2024
C$250,000
C$500,000
Nil
May 6, 2025
C$250,000
C$1,000,000
Nil
May 6, 2026
C$250,000
Nil
Nil
May 6, 2027
The Woodjam Project
The 66,325ha 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,
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.
References
1. Butrenchuk and Henneberry, 2008, Geological and Drilling Report Megaton Project, BC
Geological Survey Assessment Report 30561
About Vizsla Copper
Vizsla Copper is a Cu-Au-Mo 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 will grow through 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.
Some data disclosed in this News Release relating to sampling and drilling results is historical in
nature. Neither the Company nor a qualified person has yet verified this data and therefore investors
should not place undue reliance on such data. In some cases, the data may be unverifiable due to
lack of drill core. Mineralization hosted on adjacent and/or nearby and/or geologically similar
properties is not necessarily indicative of mineralization hosted on the Company's newly acquired
property.
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
Megabuck 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.
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For further information:
and to sign-up to the mailing list, please contact: Chris Donaldson, Chief
Executive Officer and Director, Tel: (604) 813-3931, Email: [email protected]
CO: Vizsla Copper Corp.
CNW 08:00e 09-MAY-23