Vizsla Copper (TSXV: VCU) (OTCQB: VCUFF) released its final results from phase one of its drill program at the Thira porphyry discovery at its Poplar project. The stock rose.
The company highlighted hole TH26‑154, drilled into the northern extent of previously intersected porphyry‑related copper‑molybdenum mineralization, which cut 472.8 metres averaging 0.26% copper, 0.017% molybdenum, 0.87 grams per tonne silver and 0.04 grams per tonne gold from 13.2 metres downhole.
The Poplar project is a 44,200-hectare site about 38 kilometres from the Huckleberry Copper Mine in central B.C. Around 10 kilometres north of Thira, the Poplar project hosts the Poplar deposit, a near-surface porphyry-related copper and gold system.
Vizsla Copper’s shares rose 4.6% to C$1.13 Friday afternoon in Toronto, valuing the company at about C$101.9 million.
Next steps
The company says the new results reinforce Thira’s scale and give it clearer targets for follow‑up work. Phase two drilling at Poplar is set to begin in the coming weeks. Drilling will focus on structural offsets of Thira, the southern extent of porphyry-related mineralization at Camp Lake and the eastern extent of copper-molybdenum-silver mineralization at Copper Pond.
“We believe Thira represents only one part of a much larger system, with additional porphyry centres identified across the 8 kilometres corridor that warrant further drilling. As we prepare to launch our next fully funded, two-rig drill program, we look forward to continuing to build on the momentum,” CEO Craig Perry said.
Steve Blower, the vice-president of exploration, added: “The broad intervals of copper mineralization intersected at the Camp Lake target support our interpretation that the Thira alteration corridor is comprised of multiple porphyry centres within a much larger system. Importantly, mineralization remains open in most directions, providing excellent opportunities for continued expansion when drilling resumes.”
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