Vizsla Copper: Rigs Turning, Assays Incoming and Copper Is Popping

0:14In spring, Craig Parry told us he was eagerly awaiting the start of a drill program at Beasley Copper's newly acquired Palmer Project in southeastern Alaska. Last month, the company says it had intersected thick intervals of massive, semi-massive and massive sulfide mineralization within the South Wall Zone. Assays are pending. The company also had a headline number of 304.8 meters of 0.48 copper equivalent at its dear discovery in central British Columbia. Greg, welcome back to Mining Stock Daily. Thank you, Michael. what a time to be back. Copper price is at all time high and we're drilling copper across every one of our projects, I can tell you at the moment.

0:55So never been a better time to invest in copper stocks. And, you know, we direct people to look very closely at Weasel Copper because I think what we've got ahead in the next couple of months is quite extraordinary. It'll be the most important few months of the company's history. Let's get into it. Let's start with your Palmer. So per your last news release in July, you've drilled about 2200 meters of a 10 ,000 meter program up there in southeastern Alaska. You are focused on the Southwall system. In 2023, that system had drill results showing 43.8 meters of 8.22 % copper equivalent. You wanted to further define and expand the high-grade copper-rich core at Southwall, Craig.

1:43Yes, that's right, Michael, so we've been drilling assiduously away there for six weeks or so now, actually a little bit longer than that, seven weeks. And as you allude there, we're drilling in and around that incredible zone, one high-grade copper zone, at least one of the rigs. And I should say we've got four rigs turning at present, two in British Columbia, we'll come back to those, and the two at Palmer. And one of those rigs is looking to expand that very high-grade copper zone. And, you know, we've drilled a hole that's about 50 metres away from a whole CMR 23171. So if people look on our website, you can find out all about that.

2:25And one of those holes, you know, that hole there was 24 metres at 11.15 % copper equivalent. You know, it's pretty hard to keep a lid on those sorts of things when you're pulling out big rods of massive sulphide from the ground. So we put out a market update there a couple of weeks ago, just pointing out the fact that we're drilling through these high-grade massive sulphide lenses. Assays are taking a lot longer than we would hope to turn around. You know, already we're seeing sort of two-month turnarounds, at least on assays here in BC and Alaska. So that's a little bit frustrating. But we should have some of these results back from those high-grade zones over the next month and then continuously throughout the year, given that we're going to be drilling most of the year or most of our projects.

3:17And, you know, so we're testing the expansion possibilities of that high-grade, high-copper-grade zone one. We're also out there drilling targets at our HG target and we're about to start drilling at the ag deposit. The ag deposit is important because it does have a very high-grade zone through it as well, you know. So some of the moment the ag deposit is 5 million tonnes at nearly 4 % copper equivalent, and that includes a small zone of about 220 ,000 tonnes at 7 % copper equivalent. So some extraordinary grades to come out of that ag zone that have come out of that ag zone. So we're looking forward to getting the rig set up on that and expanding that high-grade zone.

4:03And at the moment, you know, the entire resource as it stands now is, you know, effectively 18 million tonnes at about 3.1 % copper equivalent. So that's, you know, an extraordinary deposit in its own right. But what we're seeing coming out of the ground suggests that it has potential to be much bigger than that and even higher grade. So I'm excited about that program. You know, the Palmer Project's very much our flagship project and it is really delivering for us. So look out for news from Palmer as we go here. and, you know, I'm very hopeful it will make another discovery there. You did note that one of the drills at the Southwall system was terminated due to some faulting.

4:46Any concerns there just regarding system continuity? Yeah, that was an interesting one. It wasn't such faulting as so much faulting we've recognised there, but what we think is that we found a void, you know, probably caused by the chemical dissolution of some of the sulphides and copper mineralisation there. So that created a void. And that seems to be potentially a feeder zone for this part of the mineralised system. So that's an interesting target in itself, looking for the feeder zones below or around these very high-grade zones could potentially deliver a lot more high-grade tonnes. So it was interesting to hit that void.

5:29It was a little bit frustrating because we lost the hole, but we stepped out a little ways and put another hole down, and that's what we reported in that news release from a couple of weeks ago. And those assays, we're eagerly awaiting them. I think the bulk of the Palmer assays will start coming in in the next month, and it should be pretty exciting times from there. It's mid-August. Let's record this. You are planning to do about 10 ,000 right now. and we did see, I think you did about, you announced 2200 that you had done with the last news release, which was July 20th. You're on track right now.

6:08You're going to be able to get the full program done before you have to wrap up for the fall? Yeah, no worries at all. The drilling window ends sort of early to mid-September. We've had a few weather delays so far, but nothing too bad. So, yeah, I think we'll get that 10 ,000 metres done. And, Michael, we may even add a couple of thousand metres more given the results or given what we're seeing come out of the ground there. So, you know, but we'll keep the marketing informed of that as we go here. But, gee, it's looking good. It's an incredible high-grade deposit. Let's swing down to central BC and then we're going to talk about Thera.

6:48In your July 16th release, Thera is described as, I think this was your quote, one part of a much larger system with multiple porphyry centers across the corridor. You had a step up from the single 800 by 500 meter zone, and you're now launching a phase two drill program of 8 ,000 meters. Yeah, exactly, Michael. We've now, you know, we haven't found all of the edges to that Thera system yet, so that's looking enormous. You know, it's, as you say, it's probably now 600 meters by about 900 meters. we've only drilled down to 500 metres so far. You know, listeners can start doing a bit of Excel work and putting some numbers around this, but given that we've already got that large poplar resource that's eight kilometres away to the north of us, that's already over 300 million tonnes and around that 0.4 % copper equivalency, you know, it's not hard to see that this Thera system, the Poplar project and all of its porphyry hypotheses will amount to well over a billion tonnes at those sorts of grades in the not-too-distant future.

7:58We're not there yet, but that's the reason for the drilling. We've got one rig there at the moment. We've left one down at Woodjam. We'll talk a little bit about that in a second, but the second rig will move up there, continue that Thera drill out. And, of course, we've tested a couple of other targets to the west of Camp Lake and Copper Pond. And, you know, we hit some interesting mineralisation there. I think it's too early to say that we've made a discovery. But we're back in there now and I think things are looking good. So I think that that's a good chance of leading to another discovery of another porphyry apophysy in there, separate to the Thera one.

8:35And then out to the east of Thera, we've got three or four other targets that, you know, I would expect that at least one of those will be a porphyry apophysy, given the scale of the alteration and that quartz serocyte biorite alteration you see across that zone. So there has to be several porphyry aquifuses in there to give you that much alteration and that volume of altered rock. So, you know, you can't predict these things, but I think that we're on to something there and we're a chance of making another discovery whilst we keep drilling out these, you know, this very big theory system. When are you going to be publishing updates on Woodjam?

9:18Woodjam, we're still a little ways away. We took during the fall, sorry, the spring breakup, rather than making a mess there at Theura, we took the rigs down to Woodjam where we've got better access and, you know, better roads and things so we could keep drilling during the breakup. And that's, you know, that's delivering for us. We are testing a couple of other targets out there, nothing to report on that front. But we've just been drilling, you know, there's a very high-grade component to wood jam on the Deerhorn system. I think that at the moment there's 33 million tonnes at 0.7 % copper equivalent in that zone.

9:58Dr Chris Leslie and Steve Blower, who lead our exploration programs, are very keen on this Deerhorn part of the wood jam property. and, you know, look out for some news there. I'm quite surprised that we've seen quite a lot of sulphide and even some semi-massive sulphide in that system in the past. We're testing a long strike step out there over target that Chris Leslie generated and, you know, it's early days but I'm pretty confident we're going to surprise the market with some good results out of wood jam as well. So, you know, across the group, across the company and our projects, there's some incredibly exciting things happening.

10:44You know, we're hitting there at Woodjam, we're hitting, you know, growing that Theera deposit all the time and its surrounding porphyries. And then, so, you know, potentially another discovery coming there and some outstanding drill results from that Theera project. And then at Palmer, again, you know, you've seen in that last news release the tenor of mineralisation that we're pulling out of the ground there. And I think, you know, that this HG deposit that we're testing, there were a good chance of discovery is there as well. So here you are, you've got a company with$100 million market capitalisation, massive resource base already on its books, including the high-grade Palmer and the lower-grade BC Porphyries, testing targets at each of those projects and its delivering and assays coming, you know, now is the time to own Vizla Copper.

11:41I think that, you know, no one will regret investing in the company over the next couple of months with all of that going on in the background. And then lastly, you know, we are out there on the acquisition trail and I think we're seeing some really interesting things. One project in particular that really suits what we're doing suits our strategy of having a pipeline of quality high-grade projects that we can bring into development ourselves. So look out for news on that front. It's going to be an incredibly exciting time for investors. Great, Barry. Thanks for speaking with Mining Stock Daily.

12:17Michael, always a pleasure, mate. Thank you. the information presented should not be considered investment advice mining stock daily and affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein please do your own research or speak with a licensed financial representative before making any investment decisions