Vancouver, British Columbia, November 23, 2021 – Vizsla Copper Corp. ( TSXV:VCU ) (OTC:VCUFF) (“ Vizsla Copper”) and Cariboo Rose Resources Ltd . (TSXV:CRB) (“Cariboo Rose”) announce the amendment of the option agreement dated February 1 st , 2021 whereby Vizsla Copper may earn a 60% interest in the Carruthers Pass Project (the “ Option ”).
The amendment defers the first anniversary requirement to complete $100,000 of expenditures to the second year anniversary whereby Vizsla Copper will now be required to complete $400,000 in exploration expenditures. To maintain the Option in good standing, Vizsla Copper is required to complete $3,000,000 in exploration expenditures, make cash payments of $400,000 and provide $250,000 of share issuances over a five year term.
The Project
Carruthers Pass is a copper-zinc-silver-gold and cobalt volcanogenic massive sulphide (VMS) property located in northern BC approximately 75 kilometers southeast of the former producing Kemess copper gold mine owned by Centerra Gold Inc. (TSX: CG). It was discovered in 1997 by Phelps Dodge Corporation of Canada (now Freeport McMoRan Copper and Gold Inc.). Drilling in 2011 cored a large boulder on the property that returned 3.1 meters of 6.2% copper, 5.8% zinc, 2.37 g/t gold and 192.0 g/t silver. The exact source of the boulder has not been located, but it may be from an outcrop of massive sulphides in the cliffs above. Numerous untested airborne electromagnetic (EM) anomalies exist on the property.
The Carruthers Pass property is approximately 200 kilometers northeast of the community of Smithers. The Kemess Mine Road passes 25 kilometers north and east of the claims while industrial logging roads extend from Takla Lake northward to within 35 kilometers of the property.
About Vizsla Copper
Vizsla Copper is a new and well-funded copper exploration company that was recently spun out of Vizsla Silver Corp. with a mandate to explore, acquire and develop quality copper projects around the globe. The Company has two prospective exploration projects in British Columbia, Canada; Blueberry (porphyry copper) and Carruthers Pass (volcanogenic massive sulphide). The Company is led by a Board and Management team with a track record of success in mineral exploration, development and operations.
Qualified Person
The Company’s disclosure of technical or scientific information in this press release has been reviewed and approved by Steve Blower, P.Geo., Vice President of Exploration for Vizsla Copper. Mr. Blower is a Qualified Person as defined under the terms of National Instrument 43-101.
Contact Information : For more information and to sign-up to the mailing list, please contact:
Chris Donaldson, Chief Executive Officer and Director
Tel: (604) 813-3931 | Email: chris@vizslacopper.com
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.
