VANCOUVER, BC, Feb. 28, 2023 /CNW/ – Vizsla Copper Corp. (TSXV: VCU) (OTQB: VCUFF) (“Vizsla Copper” or the “Company“) is pleased to report the preliminary results from a high-definition aeromagnetic geophysical survey at the Company’s 65,252 ha Woodjam Copper Project (“Woodjam“). Woodjam is prospective for copper-gold porphyry style mineralization and is located 55 km east of Williams Lake, BC (Figure 1).
“Our high-definition airborne magnetic survey results have exceeded our expectations,” commented Steve Blower, Vice President of Exploration. “We have been able to fingerprint all of the known copper-gold porphyry zones on the property and have identified numerous targets with similar magnetic features. Many of these overburden covered target areas have never been drilled. Detailed review of the results around the known deposits is underway and will be disclosed in a series of news releases in the coming weeks.“
WOODJAM AIRBORNE SURVEY
A total of 2,999 line-km of helicopter-borne aeromagnetic, radiometric and VLF-EM surveying over an area of 273.8 km2 centered on the central mineralized corridor at Woodjam. This corridor is home to the Deerhorn and Southeast porphyry copper-gold deposits, among others. The high-resolution survey, designed with flight lines spaced 100m apart, was completed on January 2nd. Preliminary results have been received and the results are detailed below.
Known zones of gold-rich porphyry copper mineralization associated with discrete magnetic porphyritic intrusions (Deerhorn, Megabuck, Takom and 3 Firs) are identifiable in the gridded horizontal gradient (HG) magnetic image as HG high anomalies (Figure 2). Numerous other HG high anomalies are present in the dataset, many of which have never been drilled. 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. Conversely, the large Southeast deposit, which is not associated with magnetic porphyritic intrusions, corresponds to a large HG low feature in the new dataset. As with the HG high anomalies, similar HG low patterns are present in the remainder of the survey area. A single drill hole in 2021 intersected 142.4m @ 0.56% Cu and 0.23 g/t Au in drill hole SE21-89 at the Southeast deposit.
Inverted models of the aeromagnetic gradient data are currently being finalized and will be used to help interpret the geology around known deposits and refine targets in other areas. A series of detailed near-deposit reviews are being conducted and the results will be disclosed as they become available. In addition, Geotech Ltd. has been contracted to complete an airborne Z-Axis Tipper Electromagnetic (ZTEM) survey over an area similar to that covered by the aeromagnetic survey. Targets from the magnetic gradient inversions and the ZTEM survey will be the primary focus for drilling programs later in the year.
Figure 1 – Woodjam Location Map
Figure 2 – Aeromagnetic Horizontal Gradient Results
The Woodjam Project
The 65,252 ha 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.
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).
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.