VANCOUVER, BC, Feb. 21,
2024 /CNW/ - Vizsla Copper Corp. (TSXV: VCU) (OTCQB:
VCUFF) (FRANKFURT: 97E0)
("Vizsla Copper" or the "Company") is pleased to
announce that it has completed the acquisition (the
"Acquisition") of a 100% interest in two mineral claims (the
"Stope Baby Claims") covering exploration ground contiguous
with the Company's Woodjam Copper-Gold Project (the "Woodjam
Project").
The Company is also pleased to announce that it has entered into
an agreement (the "Purchase Agreement") with an
arm's-length, third party vendor (the "Copper Pit
Vendor") to acquire a 100% interest in two mineral claims
(the "Copper Pit Claims") covering exploration ground
contiguous with the Woodjam Project.
Stope Baby Acquisition
Details
Further to the Company's news release dated January 16, 2024, the Company issued an aggregate
of 200,000 common shares of Vizsla Copper (each, a "Vizsla
Copper Share") to arm's length vendors (the "Stope Baby
Vendors"). The Company has also granted the Stope Baby Vendors
a 2% net smelter returns royalty. Vizsla Copper has the right to
purchase 1% of such royalty for $1,000,000 in cash.
Additional details regarding the Acquisition and the Stope Baby
Claims are set out in the Company's news release dated January 16, 2024.
Copper Pit Acquisition
Details
Pursuant to the Purchase Agreement entered into with the Copper
Pit Vendor, Vizsla Copper has agreed to purchase two mineral claims
totalling 59.5 ha from the Copper Pit Vendor, free and clear of any
encumbrances, in exchange for the issuance of 100,000 Vizsla Copper
Shares (the "Consideration Shares"). The Consideration
Shares will be subject to a four-month hold period pursuant to
applicable Canadian securities laws, after which 25% of the
Consideration Shares will become free trading. In addition, the
Copper Pit Vendor has agreed to voluntary resale restrictions
whereby an additional 25% of the Consideration Shares will become
free trading every four months thereafter. The Acquisition is
subject to standard closing conditions, including the approval of
the TSX Venture Exchange (the "TSXV"), and should close in
the coming weeks.
The Woodjam Project
The >90,000-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 easily accessed by logging
roads. Geologically, the Woodjam 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, 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. These six
mineralized zones form a cluster approximately 5 kilometres in
diameter.
Figure 1 – Woodjam New Claims Location
In 2023 Vizsla Copper completed a total of 7,599 metres in 18
holes successfully extending the Deerhorn and Takom deposits while
also intersecting the strongest mineralization to date at the
Megaton zone.
About Vizsla Copper
Vizsla Copper is a Cu-Au-Mo focused mineral exploration and
development company headquartered in Vancouver, Canada. The Company is primarily
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 three additional copper exploration properties: Copperview,
Redgold and Carruthers Pass, all
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 it 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.sedarplus.ca) 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. Forward-looking
statements in this news release include, among others, statements
relating to: completion of the acquisition of mineral claims; the
Company's growth and business strategies; and the exploration and
development of the Company's properties.
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.