VCUFF - Vizsla Copper Corp. Amends Option Agreement at Carruthers Pass Project
(TheNewswire)
Vancouver, British Columbia - TheNewswire - November 23, 2021 -Vizsla Copper Corp. ( TSXV:VCU ) (OTC:VCUFF) (“ VizslaCopper”) and Cariboo Rose ResourcesLtd . (TSXV:CRB) (“CaribooRose”) announce the amendment of the optionagreement 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 requirementto complete $100,000 of expenditures to the second year anniversarywhereby Vizsla Copper will now be required to complete $400,000 inexploration expenditures. To maintain the Option in good standing,Vizsla Copper is required to complete $3,000,000 in explorationexpenditures, make cash payments of $400,000 and provide $250,000 ofshare issuances over a five year term.
The Project
Carruthers Pass is a copper-zinc-silver-gold and cobaltvolcanogenic massive sulphide (VMS) property located in northern BCapproximately 75 kilometers southeast of the former producing Kemesscopper gold mine owned by Centerra Gold Inc. (TSX: CG). It wasdiscovered in 1997 by Phelps Dodge Corporation of Canada (now FreeportMcMoRan Copper and Gold Inc.). Drilling in 2011 cored a large boulderon 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 boulderhas not been located, but it may be from an outcrop of massivesulphides in the cliffs above. Numerous untested airborneelectromagnetic (EM) anomalies exist on the property.
The Carruthers Pass property is approximately 200kilometers northeast of the community of Smithers. The Kemess MineRoad passes 25 kilometers north and east of the claims whileindustrial logging roads extend from Takla Lake northward to within 35kilometers of the property.
About Vizsla Copper
Vizsla Copper is a new and well-funded copperexploration company that was recently spun out of Vizsla Silver Corp.with a mandate to explore, acquire and develop quality copper projectsaround the globe. The Company has two prospective explorationprojects in British Columbia, Canada; Blueberry (porphyry copper) andCarruthers Pass (volcanogenic massive sulphide). The Company is ledby a Board and Management team with a track record of success inmineral exploration, development and operations.
Qualified Person
The Company’s disclosure of technical or scientificinformation in this press release has been reviewed and approved bySteve Blower, P.Geo., Vice President of Exploration for Vizsla Copper.Mr. Blower is a Qualified Person as defined under the terms ofNational Instrument 43-101.
Contact Information : For moreinformation 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 norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
FORWARD LOOKING STATEMENTS
The information contained herein contains“forward-looking statements” within the meaning of the UnitedStates Private Securities Litigation Reform Act of 1995 and“forward-looking information” within themeaning of applicable Canadian securities legislation.“Forward-looking information” includes, but is not limited to,statements with respect to the activities, events or developments thatthe 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 statementscan 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 ofsuch words and phrases or state that certain actions, events orresults “may”, “could”, “would”, “might” or “will betaken”, “occur” or “be achieved” or the negative connotationthereof.
Such forward-looking information and statements arebased on numerous assumptions, including among others, that theresults of planned exploration activities are as anticipated, theanticipated cost of planned exploration activities, that generalbusiness and economic conditions will not change in a material adversemanner, that financing will be available if and when needed and onreasonable terms, that third party contractors, equipment and suppliesand governmental and other approvals required to conduct theCompany’s planned exploration activities will be available onreasonable terms and in a timely manner. Although the assumptions madeby the Company in providing forward-looking information or makingforward-looking statements are considered reasonable by management atthe time, there can be no assurance that such assumptions will proveto be accurate.
Forward-looking information and statements also involveknown and unknown risks and uncertainties and other factors, which maycause actual events or results in future periods to differ materiallyfrom any projections of future events or results expressed or impliedby such forward-looking information or statements, including, amongothers: negative operating cash flow and dependence on third partyfinancing, uncertainty of additional financing, no known mineralreserves or resources, the limited operating history of the Company,the influence of a large shareholder, aboriginal title andconsultation issues, reliance on key management and other personnel,actual results of exploration activities being different thananticipated, changes in exploration programs based upon results,availability of third party contractors, availability of equipment andsupplies, failure of equipment to operate as anticipated; accidents,effects of weather and other natural phenomena and other risksassociated with the mineral exploration industry, environmental risks,changes in laws and regulations, community relations and delays inobtaining governmental or other approvals.
Although the Company has attempted to identifyimportant factors that could cause actual results to differ materiallyfrom those contained in the forward-looking information or implied byforward-looking information, there may be other factors that causeresults not to be as anticipated, estimated or intended. There can beno assurance that forward-looking information and statements willprove to be accurate, as actual results and future events could differmaterially from those anticipated, estimated or intended. Accordingly,readers should not place undue reliance on forward-looking statementsor information. The Company undertakes no obligation to update orreissue forward-looking information as a result of new information orevents except as required by applicable securities laws.
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