Vancouver, British Columbia, April 5, 2023 – Vizsla Copper Corp. (TSXV: VCU, OTQB: VCUFF) (“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 Megabuck copper-gold zone on the Company’s 65,252 hectare Woodjam Copper Project (“Woodjam”). Woodjam is prospective for copper-gold porphyry mineralization and is located 55 kilometres east of Williams Lake, BC (Figure 1).
HIGHLIGHTS
- Megabuck zone response: The recently completed aeromagnetic survey highlights the Megabuck porphyry system – a magnetic monzonite porphyritic intrusion that hosts strong copper-gold mineralization (e.g., 242.8 metres of 1.09 g/t Au and 0.15% Cu; WJ04-032)
- Extensions of known mineralization: Mineralization on the flanks of the Megabuck porphyry is open at depth and to the north, where historical drilling is very limited. These areas represent compelling targets for future drill programs.
- Exciting new target: A magnetic high anomaly, like those at Megabuck and Deerhorn, 2 kilometres to the southeast of Megabuck, is completely undrilled.
“Copper and gold porphyry-style mineralization outcrops at the Megabuck zone, and the host rock has historically been referred to as the Megabuck porphyry intrusion” commented Steve Blower, Vice President of Exploration. “Our recently completed aeromagnetic survey suggests that there are other overburden covered porphyritic intrusions in the immediate area that have never been drilled.”
MEGABUCK ZONE
As with other copper and gold zones on the property, including the nearby high-grade Deerhorn deposit, porphyry-related copper-gold mineralization at Megabuck is associated with steeply dipping, cylindrical, magnetic, and porphyritic monzonite intrusions. Mineralization is best developed on the flanks of these intrusions. Highlights from historical Megabuck drilling by previous operators are shown in Table 1, below.
Table 1 –Historical Megabuck Drilling Highlights
Note: Cueq and Aueq are calculated with prices of US$1,800/oz Au and US$4.00/lb Cu.
EXPLORATION POTENTIAL AT THE MEGABUCK ZONE
Clear exploration targets at the Megabuck zone are present down-dip of known mineralization on the southeast and northwest flanks of the Megabuck porphyritic intrusion (Figures 2 and 3). The target area to the north is particularly intriguing due to the paucity of drilling there. As well, a broad and vertically extensive magnetic-high, similar to the anomaly at Deerhorn, exists 2 kilometres to the southeast and is completely undrilled (Figure 3). This area represents a high priority target for the upcoming summer drilling program.
NEXT STEPS
Targets continue to be ranked and prioritized ahead of core drilling programs planned for later in the year. A total of 10,000 metres of core drilling is currently envisaged, beginning in the early summer. 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 drilling programs later in the year.
Figure 1 – Woodjam Location Map
Figure 2 – Megabuck Area Plan Map
Figure 3 – Megabuck Zone 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, 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).
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.
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.
