Vizsla Copper Extends Deerhorn and Takom Deposits and Intersects Strongest Copper Mineralization to Date at the Megaton Zone
VIZSLA COPPER EXTENDS DEERHORN AND
TAKOM DEPOSITS AND INTERSECTS
STRONGEST COPPER MINERALIZATION TO
DATE AT THE MEGATON ZONE
VANCOUVER, BC
,
Dec. 5, 2023
/CNW/ - Vizsla Copper Corp. (TSXV: VCU) (OTCQB: VCUFF)
(
FRANKFURT
: 97E0) ("
Vizsla Copper
" or the "
Company
") is pleased to report additional assay
results from its summer core drilling program at the Woodjam copper-gold project (the "
Woodjam
Project
" or "
Woodjam
") in central BC (Figure 1). Highlights include significant extensions to the
Deerhorn and Takom deposits and the strongest copper mineralization to date at the Megaton zone.
HIGHLIGHTS
Mineralization Extended at the Deerhorn and Takom Deposits.
Drill hole DH23-107 (Deerhorn):
Intersected
37.5m
averaging 0.64% CuEq (0.12% Cu, 0.78 g/t Au)
includes a higher-grade sub-interval of
22.5m
averaging 0.84% CuEq (0.13% Cu, 1.07 g/t
Au)
Drill hole DH23-104 (Deerhorn):
Intersected
90.7m
averaging 0.36% CuEq (0.10% Cu, 0.38 g/t Au)
Drill hole TK23-111 (Takom):
Intersected
20.0m
averaging 0.69% CuEq (0.50% Cu, 0.27 g/t Au)
Intersected a second zone of
97.60m
averaging 0.20% CuEq (0.15% Cu, 0.08 g/t Au)
Megaton Drilling
Drill hole MT23-116 (Megaton):
Intersected
110.1m
averaging 0.26% copper equivalent (CuEq) (0.20% Cu, 0.01 g/t Au)
Note: Copper equivalent values are based on metal prices of $4.00/lb Cu, $1,800/oz Au, $22/oz Ag and $15/lb Mo.
"
I'm very pleased with the results of our first drilling program at Woodjam,
" commented
Craig
Parry
, Executive Chairman. "
Our strategy of acquiring under-appreciated assets in top-tier
jurisdictions and adding value through aggressive exploration is progressing nicely. We will
continue to pursue this strategy with more exploration at Woodjam and our other highly prospective
projects.
"
"Thanks to our field crews, led by Senior Geologist Ian Borg and Project Geologist Colin Bateman,
the summer drilling program at Woodjam has been a resounding success,"
commented
Steve
Blower
, Vice President of Exploration
. "We safely and effectively explored several different target
areas. Mineralization at the Deerhorn and Takom deposits was expanded and gaps in the drilling
at the large Southeast deposit were successfully filled. However, I'm most excited about the result
at the Megaton zone, where drill hole MT23-116 intersected the strongest mineralization there to
date and has established a clear vector for further exploration. There are strong indications that
Megaton is another porphyry center at Woodjam."
DEERHORN
Drill holes DH23-104 and DH23-107 were completed to evaluate down-dip and up-dip extensions,
respectively, on the southernmost section of historical drilling at the Deerhorn Zone. Historical drill
hole DH12-37 had previously intersected a long interval of copper and gold mineralization (
100.0 m
@ 0.97 g/t Au and 0.13 % Cu from
211.0 m
) on this section. Drill holes DH23-104 and DH23-107
extended the mineralization in both the down-dip and up-dip directions (Table 1 and Figures 2 and 3)
and demonstrate that the system is robust at the south end of the zone and remains open for
expansion in this direction. Drill hole DH23-109 was completed as a
100m
step-out further south
and while it did not intersect significant copper or gold mineralization, the drill hole was strongly
altered and is interpreted to have intersected an altered envelope around the plunging zone of
mineralization. More drilling is required at the south end of Deerhorn.
TAKOM
Drilling at the Takom deposit successfully extended mineralization on the east side of the deposit
with drill hole TK23-111 (Table 1 and Figures 2 and 4). TK23-111 intersected
20m
averaging 0.69%
CuEq and a second interval of
97.60 m
averaging 0.20% CuEq.
MEGATON
Wide spaced, historical drilling at the Megaton zone, located approximately 2km northeast of the
large Southeast Deposit has commonly intersected long intervals of low-grade copper mineralization
over a large area. The geology at Megaton is similar to that at the Southeast zone, with
mineralization hosted by several phases of altered monzonite, including potassium feldspar porphyry,
along the northern edge of the Takomkane batholith. New Direct Current Induced Polarization
(DCIP) geophysical survey data collected earlier this year indicated greater concentrations of
sulphide mineralization may be present north of previous drilling. Drill hole MT23-116, collared
150m
north of historical drill hole MT21-07 intersected the strongest mineralization to date at Megaton,
110.1m
averaging 0.26% Cueq (Figures 5 and 6). Drill hole MT23-118, completed
180m
northeast
of MT23-116 intersected
63.3m
averaging 0.18% Cueq. Much of the large DCIP anomaly remains
undrilled to the north of drill holes MT23-116 and MT23-118, where interpreted structures extend
from the Southeast deposit.
Table 1 – Woodjam 2023 Drilling Highlights
Hole-ID
Area
Cutoff
Significant Intersections
2,3
From
(m)
To
(m)
Length
(m)
Cu
(%)
Mo
(%)
Au
(g/t)
Ag
(g/t)
Cueq
(%)
SE23-101
1
SE
0.2% Cu
177.0
308.5
131.5
0.49
0.012
0.07
1.43
0.60
includes
0.5% Cu
185.0
245.0
60.0
0.64
0.011
0.10
1.75
0.76
and
0.2% Cu
398.0
448.0
50.0
0.29
0.046
0.04
1.99
0.50
and
0.2% Cu
487.0
497.0
10.0
0.79
0.215
0.37
10.25
1.92
SE23-102
1
SE
0.2% Cu
136.9
430.1
293.2
0.54
0.005
0.05
1.84
0.61
includes
0.5% Cu
157.0
223.1
66.1
0.81
0.005
0.08
1.89
0.90
and includes
0.5% Cu
260.0
327.1
67.1
0.54
0.005
0.05
1.43
0.60
and
0.2% Cu
442.0
481.1
39.1
0.34
0.013
0.03
1.50
0.42
DH23-104
Deerhorn
0.2 g/t Au
308.3
399.0
90.7
0.10
0.001
0.38
0.86
0.36
DH23-107
Deerhorn
0.2 g/t Au
256.0
293.5
37.5
0.12
0.001
0.78
0.57
0.64
includes
0.5 g/t Au
265.0
287.5
22.5
0.13
0.001
1.07
0.63
0.84
and
0.2 g/t Au
356.0
414.0
58.0
0.07
0.001
0.44
0.54
0.37
includes
0.5 g/t Au
386.0
407.0
21.0
0.09
0.001
0.69
0.59
0.55
SE23-110
SE
0.1 % Cu
214.5
252.0
37.5
0.19
0.001
0.02
0.71
0.21
includes
0.2 % Cu
222.0
235.7
13.7
0.24
0.002
0.02
0.92
0.28
and
0.1 % Cu
276.0
296.0
20.0
0.18
0.003
0.02
0.56
0.21
TK23-111
Takom
0.1% Cu
133.0
153.0
20.0
0.50
0.001
0.27
2.38
0.69
and
0.1 % Cu
164.4
262.0
97.6
0.15
0.000
0.08
0.46
0.20
MT23-116
Megaton
0.1 % Cu
48.0
72.0
24.0
0.18
0.002
0.01
1.20
0.20
and
0.1 % Cu
123.0
155.0
32.0
0.14
0.003
0.00
1.11
0.17
and
0.1 % Cu
197.0
307.1
110.1
0.20
0.011
0.01
1.38
0.26
includes
0.2 % Cu
206.0
228.0
22.0
0.32
0.017
0.01
1.00
0.40
includes
0.2 % Cu
285.1
297.1
12.0
0.40
0.039
0.03
7.66
0.63
MT23-118
Megaton
0.1 % Cu
136.0
151.0
15.0
0.14
0.002
0.01
0.68
0.16
and
0.1 % Cu
271.1
334.4
63.3
0.15
0.006
0.01
0.99
0.18
and
0.1 % Cu
416.2
430.2
14.0
0.13
0.017
0.01
1.03
0.21
Notes:
1.
Previously disclosed and included here for completeness.
2.
Composite intervals are calculated above noted cutoffs and may include a maximum of 10m of internal waste.
3.
Copper equivalent values are based on metal prices of $4.00/lb Cu, $1,800/oz Au, $22/oz Ag and $15/lb Mo.
The drill program is now complete. A total of
7,599m
was drilled in 18 drill holes. Assay results have
now been received for all of the drill holes.
Figure 1 – Woodjam Property Map
Figure 1 – Woodjam Property Map (CNW Group/Vizsla Copper Corp.)
Figure 2 – Drilling Target Area Locations
Figure 2 – Drilling Target Area Locations (CNW Group/Vizsla Copper Corp.)
Figure 3 – Deerhorn Drill Holes DH23-104 and 107 Cross Section
Figure 3 – Deerhorn Drill Holes DH23-104 and 107 Cross Section (CNW Group/Vizsla Copper
Corp.)
Figure 4 – Takom Drill Hole TK23-111 Cross Section
Figure 4 – Takom Drill Hole TK23-111 Cross Section (CNW Group/Vizsla Copper Corp.)
Figure 5 – Megaton Area Drilling Plan
Figure 5 – Megaton Area Drilling Plan (CNW Group/Vizsla Copper Corp.)
Figure 6 – Megaton Drill Hole MT23-116 Cross Section
Figure 6 – Megaton Drill Hole MT23-116 Cross Section (CNW Group/Vizsla Copper Corp.)
Table 2 – 2023 Drill Hole Details
Hole-ID
Length (m)
Azm
Dip
Northing
Easting
Elevation
SE23-100
603
170
-75
5788697
613288
960
SE23-101
506
315
-80
5788288
613082
981
SE23-102
509
310
-75
5788210
612934
991
WJ23-103
452
345
-60
5789223
612130
1095
DH23-104
429
220
-65
5791793
611532
924
WJ23-105
111
345
-60
5789399
612193
1083
WJ23-106
452
20
-60
5789400
612194
1083
DH23-107
414
220
-55
5791797
611525
924
SE23-108
360
130
-65
5787532
612714
1024
DH23-109
439
220
-65
5791751
611608
924
SE23-110
411
130
-65
5787668
612555
1013
TK23-111
359
310
-55
5788486
610928
992
DH23-112
251
215
-65
5792258
611256
916
TK23-113
302
310
-55
5788499
610318
953
DH23-114
221
210
-60
5792079
611074
918
ME23-115
419
320
-55
5791352
611156
925
MT23-116
476
310
-70
5789461
614872
958
ME23-117
434
310
-80
5791096
611126
942
MT23-118
452
330
-70
5789576
615006
965
Note: Coordinates are North American Datum 1983, Universal Transverse Mercator Zone 10 North (NAD83 z 10N)
Sampling, Chain of Custody, Quality Assurance and Quality Control
All sampling was conducted under the supervision of Vizsla's geologists and the chain of custody
from the sampling facility in Horsefly to the sample preparation facility, ALS Laboratories in
Kamloops, BC
, was continuously monitored.
Core samples were taken as ½ core, from a minimum of
0.3 m
to a maximum of
2 m
core length to
account for lithological or alteration boundaries. Samples were then crushed, pulverised and sample
pulps were analysed using industry standard analytical methods including a 4-Acid, ICP-MS
multielement package (ALS code ME-MS61) and an ICP-AES method for high-grade copper
samples (ALS code ME-OG62). Gold was analysed using a 30 g aliquot by fire assay with an ICP-
AES finish (ALS code Au-ICP21).
Certified reference material was inserted every 10
th
sample. Coarse blank was inserted every 20
th
sample. For approximately 2.5% of core samples, the remaining ½ core was taken as a field
duplicate. For 2.5% of core samples a preparation duplicate is taken after coarse crushing is
complete at the laboratory.
In addition to Vizsla's QA/QC program, additional blanks, reference materials and duplicates were
inserted by ALS according to their internal procedures. Data verification of the analytical results
included a statistical analysis of the standards and blanks that must pass certain parameters for
acceptance to ensure accurate and verifiable results.
Repricing of Warrants
The Company intends to reprice and extend the expiry date of a total of 3,072,061 share purchase
warrants exercisable at
$0.65
per common share expiring on
April 14, 2024
(the "
Warrants
"). The
Warrants were issued pursuant to a private placement which closed on
April 14, 2022
. The
Company proposes to reprice the Warrants to
$0.35
per share and extend the expiry date by an
additional year to
April 14, 2025
.
All other terms and conditions of the Warrants remain unchanged. The extension of the Warrants is
subject to acceptance by the TSX Venture Exchange.
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 Corp. (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
).
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, including
Woodjam; the release of exploration results; and the Company's growth and business strategies.
Forward
looking statements and forward
looking information relating to any future mineral
production, liquidity, enhanced value and capital markets profile of the Company, future growth
potential for the Company and its business, and future exploration plans are based on management's
reasonable assumptions, estimates, expectations, analyses and opinions, which are based on
management's experience and perception of trends, current conditions and expected developments,
and other factors that management believes are relevant and reasonable in the circumstances, but
which may prove to be incorrect. Assumptions have been made regarding, among other things, the
price of silver, gold, and other metals; no escalation in the severity of public health crises; costs of
exploration and development; the estimated costs of development of exploration projects; the
Company's ability to operate in a safe and effective manner and its ability to obtain financing on
reasonable terms.
These statements reflect the Company's respective current views with respect to future events and
are necessarily based upon a number of other assumptions and estimates that, while considered
reasonable by management, are inherently subject to significant business, economic, competitive,
political and social uncertainties and contingencies. Many factors, both known and unknown, could
cause actual results, performance, or achievements to be materially different from the results,
performance or achievements that are or may be expressed or implied by such forward
looking
statements or forward-looking information and the Company has made assumptions and estimates
based on or related to many of these factors. Such factors include, without limitation: precious
metals price volatility; risks associated with the conduct of the Company's mining activities;
regulatory, consent or permitting delays; risks relating to reliance on the Company's management
team and outside contractors; the Company's inability to obtain insurance to cover all risks, on a
commercially reasonable basis or at all; currency fluctuations; risks regarding the failure to generate
sufficient cash flow from operations; risks relating to project financing and equity issuances; risks
and unknowns inherent in all mining projects, including the inaccuracy of reserves and resources,
metallurgical recoveries and capital and operating costs of such projects; contests over title to
properties, particularly title to undeveloped properties; laws and regulations governing the
environment, health and safety; the ability of the communities in which the Company operates to
manage and cope with the implications of public health crises; the economic and financial
implications of public health crises to the Company; operating or technical difficulties in connection
with mining or development activities; employee relations, labour unrest or unavailability; the
Company's interactions with surrounding communities; the Company's ability to successfully integrate
acquired assets; the speculative nature of exploration and development, including the risks of
diminishing quantities or grades of reserves; stock market volatility; conflicts of interest among
certain directors and officers; lack of liquidity for shareholders of the Company; litigation risk; the
ongoing military conflict in
Ukraine
; general economic facts; and the factors identified under the
caption "Risk Factors" in the Company's management discussion and analysis and other public
disclosure documents.
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 05-DEC-23