VANCOUVER, BC, April 20,
2023 /CNW/ - Vizsla Copper Corp. (TSXV: VCU)
(OTCQB: VCUFF) (FRANKFURT: 97E0)
("Vizsla Copper" or the "Company") is pleased to
report additional results from an interpretation of a
high-definition aeromagnetic geophysical survey recently completed
over the Southeast deposit ("Southeast") on the Company's
65,252-hectare Woodjam Project ("Woodjam"). Woodjam is
prospective for copper-gold porphyry mineralization and is located
55 kilometres east of Williams Lake,
BC (Figure 1).
HIGHLIGHTS
- Southeast deposit remains open: High-grade areas of
porphyry-related copper and gold mineralization at Southeast (e.g.,
144.9m of 1.21% Cu and 0.55 g/t Au;
WJ 08-84) remain open, both laterally and at depth.
- Recent drilling results: Drilling completed at Southeast
by Consolidated Woodjam Copper in 2021 intersected strong zones of
copper and gold mineralization (e.g., 142.4m averaging 0.56% Cu and 0.23 g/t Au;
SE21-089).
- Similar nearby magnetic features are untested: Inverted
geophysical models generated from the newly acquired aeromagnetic
survey data suggest that untested targets remain – particularly
immediately southeast of the deposit.
"The Southeast deposit contains the majority of the
copper-gold porphyry-related historical resources at the Woodjam
project," commented Steve
Blower, Vice President of Exploration. "The
deposit is open for expansion and there are look-a-like features
nearby that have yet to be drilled. Our exploration team is
very eager to evaluate these targets."
SOUTHEAST DEPOSIT
The Southeast deposit is a large porphyry-related copper and
gold deposit within the prospective Takomkane batholith; a large,
composite body of early Jurassic calc-alkaline intrusive
rocks. At Southeast, copper and gold mineralization is best
developed above and on the northwest flank of a broad magnetic high
anomaly which strengthens with depth (Figures 2 and 3). The
deposit includes zones of considerable high-grade copper and gold
mineralization. For example, recent drilling in 2021
intersected 142.4m @ 0.71% CuEq
(0.56% Cu and 0.23 g/t Au) in the last hole of the program and
earlier drilling in 2008 intersected 144.9m @ 1.57 % CuEq (1.21% Cu and 0.55 g/t
Au). Further drilling and modelling are required to better
constrain the controls and orientations of the higher grade
zones.
Highlights from previous drilling at Southeast are shown in
Table 1, below. A historical mineral resource estimate is
summarized in Table 2.
Table 1 – Southeast Deposit Drilling
Highlights
Drill
hole
|
From
(m)
|
To
(m)
|
Int.
(m)
|
Au
(g/t)
|
Cu
(%)
|
AuEq
(g/t)
|
CuEq
(%)
|
SE21-089
|
115.6
|
258.0
|
142.4
|
0.23
|
0.56
|
1.08
|
0.71
|
SE11-062
|
100.6
|
211.1
|
110.5
|
0.17
|
0.45
|
0.86
|
0.56
|
and
|
256.5
|
462.4
|
205.9
|
0.18
|
0.57
|
1.05
|
0.69
|
WJ08-084
|
125.9
|
485.0
|
359.1
|
0.28
|
0.70
|
1.34
|
0.88
|
inc
|
166.7
|
311.6
|
144.9
|
0.55
|
1.21
|
2.41
|
1.57
|
Note: Cueq and Aueq are calculated with prices of US$1,800/oz Au and US$4.00/lb Cu.
Table 2 –Historical Mineral Resource Estimate for the
Southeast Deposit, Effective Date May 30,
2013
Deposit
|
Category
|
Tonnage
|
Grade
|
Metal
Content
|
|
|
M
tonnes
|
% Cu
|
g/t
Au
|
M lbs
Cu
|
000 oz
Au
|
Southeast1,2
|
Inferred
|
221.7
|
0.31
|
0.05
|
1,507
|
383.7
|
|
Notes:
|
1.
|
Source: "NI 43-101
Technical Report for Woodjam Property, Horsefly, British Columbia,
Canada", prepared by Susan Lomas, P.Geo. of Lions Gate Geological
Consulting inc. (LGGC). and issued on December 16,
2022. The historical mineral resource estimate was prepared
for Goldfields and Consolidated Woodjam Copper with an effective
date of May 30, 2013. The NSR calculation used US$1,650/oz
Au, US$3.90/lb Cu and recoveries of 56% Au and 64% Cu. The
Southeast Historical Estimate was reported within a resource
limiting pit shell based on a price assumption of US$1,650/oz Au
and US$3.90/lb Cu.
|
2.
|
Historical Estimates
are considered historical in nature and as such are based on prior
data and reports prepared by previous property owners. The reader
is cautioned not to treat them, or any part of them, as current
mineral resources or reserves. A qualified person has not done
sufficient work to classify the Historical Estimates as current
resources and Vizsla Copper is not treating the Historical
Estimates as current resources. In addition, mineral
resources are not mineral reserves and do not have demonstrated
economic viability.
|
EXPLORATION POTENTIAL AT THE
SOUTHEAST DEPOSIT
High-grade porphyry-related copper and gold zones at Southeast
remain open laterally and at depth. Further, limited drilling
has been completed peripheral to the deposit and several target
areas are evident in the recently completed, high-definition
aeromagnetic survey results. The cross-section in Figure 3
shows a good example of a look-a-like magnetic feature immediately
southeast of the Southeast deposit. Here, a broad magnetic
high anomaly that strengthens with depth is very similar to that
present at the Southeast deposit. The top and flanks of this
feature are interpreted to be highly prospective for
porphyry-related copper and gold mineralization but have yet to be
drilled.
NEXT STEPS
Inverted models of the data continue to be refined by
Kyle Patterson, P.Geo., of
Convolutions Geoscience Corp. Targets continue to be ranked
and prioritized ahead of core drilling programs planned for later
in the year. In addition, Geotech Ltd. has been contracted to
complete an airborne Z-Axis Tipper Electromagnetic ("ZTEM") survey
over an area like that covered by the aeromagnetic survey.
Targets from the magnetic gradient inversions and the ZTEM survey
will be the primary focus for the upcoming drilling programs.
Figure 1 – Woodjam Location Map
Figure 2 – Southeast Deposit Area Plan Map
Figure 3 – Southeast Deposit Cross Section
The Woodjam Project
The 65,252-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 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-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.
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. It 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).
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.