Vizsla Copper Provides Updates ON Woodjam Copper-GOLD Project Expansion
VIZSLA COPPER PROVIDES UPDATES ON
WOODJAM COPPER-GOLD PROJECT
EXPANSION
VANCOUVER, BC
,
Feb. 21, 2024
/CNW/ - Vizsla Copper Corp. (TSXV: VCU) (OTCQB: VCUFF)
(
FRANKFURT
: 97E0) ("
Vizsla Copper
" or the "
Company
") is pleased to announce that it has
completed the acquisition (the "
Acquisition
") of a 100% interest in two mineral claims (the "
Stope
Baby Claims
") covering exploration ground contiguous with the Company's Woodjam Copper-Gold
Project (the "
Woodjam Project
").
The Company is also pleased to announce that it has entered into an agreement (the "
Purchase
Agreement
") with an arm's-length, third party vendor (the "
Copper Pit
Vendor
") to acquire a 100%
interest in two mineral claims (the "
Copper Pit Claims
") covering exploration ground contiguous with
the Woodjam Project.
Stope Baby Acquisition Details
Further to the Company's news release dated
January 16, 2024
, the Company issued an aggregate
of 200,000 common shares of Vizsla Copper (each, a "
Vizsla Copper Share
") to arm's length
vendors (the "
Stope Baby Vendors
"). The Company has also granted the Stope Baby Vendors a
2% net smelter returns royalty. Vizsla Copper has the right to purchase 1% of such royalty for
$1,000,000
in cash.
Additional details regarding the Acquisition and the Stope Baby Claims are set out in the Company's
news release dated
January 16, 2024
.
Copper Pit Acquisition Details
Pursuant to the Purchase Agreement entered into with the Copper Pit Vendor, Vizsla Copper has
agreed to purchase two mineral claims totalling 59.5 ha from the Copper Pit Vendor, free and clear
of any encumbrances, in exchange for the issuance of 100,000 Vizsla Copper Shares (the
"
Consideration Shares
"). The Consideration Shares will be subject to a four-month hold period
pursuant to applicable Canadian securities laws, after which 25% of the Consideration Shares will
become free trading. In addition, the Copper Pit Vendor has agreed to voluntary resale restrictions
whereby an additional 25% of the Consideration Shares will become free trading every four months
thereafter. 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 Woodjam Project
The >90,000-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.
Figure 1 – Woodjam New Claims Location
Figure 1 – Woodjam New Claims Location (CNW Group/Vizsla Copper Corp.)
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
).
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.
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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 21-FEB-24