Vancouver, British Columbia, August 2, 2022 – Vizsla Copper Corp. (TSXV: VCU) (“Vizsla Copper” or the “Company”) is pleased to announce the start of a core drilling program at the Carruthers Pass copper project in central British Columbia. The Company is earning a 60% interest in Carruthers Pass (the “Project”) from Cariboo Rose Resources Ltd. The Project is prospective for copper-zinc volcanogenic massive sulphide (VMS) mineralization and is located 200 km north of Smithers, BC (Figure 1).
“The start of drilling at Carruthers Pass is an exciting development for the Company,” commented Steve Blower, Vice President of Exploration for Vizsla Copper. “The drill targets ahead of us are very compelling possible sources for the high-grade mineralization at the Boulder zone. This program is the result of a huge amount of preparatory work on compilation, target development and logistics by Senior Geologist Ian Borg and Project Geologist James Chamberlain.”
The Drill Program
A helicopter supported drill program consisting of five core drill holes totalling approximately 2,000 m is planned to be completed over the next four to five weeks. Targets include extensions of copper mineralization intersected in historical drill holes and geophysical conductors identified in a new airborne VTEM geophysical survey completed earlier in the year. All targets are in the general area of the Boulder zone, an area characterized by a 5 m x 3 m x 3 m boulder of high-grade massive sulphide partially buried in scree and figure 2 shows planned drill hole locations. The Company has benefitted greatly from the help of its key contractors Kyle Patterson (Geophysical Consulting), Core-West Drilling, Aberdeen Helicopters, Discovery Mining Services (Camp), Skookum Exploration Services (Pad Building), Butch Houlind Expediting, and Discovery International Geophysics (Borehole EM surveying).
Located in a region of north-central British Columbia well-endowed with copper deposits of various styles, the Carruthers Pass Project is ripe for discovery. The Project was originally staked to explore for the source of a large, 5m x 3m x 3m boulder of high-grade copper and zinc massive sulphide mineralization protruding from a large talus slope. This boulder was first discovered in 1997 by Phelps Dodge while following up a new release of regional geochemical survey results. Thinner zones of high-grade copper and zinc mineralization were subsequently discovered in place in the steep cliffs above the boulder and the general area is now known as the Boulder Zone. Massive sulphide mineralization at the Boulder Zone is thought to belong to the Besshi-type of Volcanogenic Massive Sulphide deposits. At Carruthers Pass, the shale and volcaniclastic host rocks for the mineralization belong to the Dewar formation of the Upper Triassic Takla Group.
Past exploration on the Project has been minimal, despite the presence of many kilometres of inferred sub-crop of the target horizon and a 5 km long northwesterly trending soil geochemistry anomaly enriched in copper, zinc and other metals. Only 14 historical drill holes totalling 2,191 m have been completed in three previous drilling campaigns, the last of which was in 2011.
Vizsla Copper is earning a 60% interest in the Project from Cariboo Rose Resources Ltd. through a series of cash and share payments and exploration expenditures over a five-year period that began in 2021.
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.
Figure 1 – Carruthers Pass Project Location Map
Figure 2 – Carruthers Pass Planned Drill Holes
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.
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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.