Vizsla Copper (TSXV: VCU; US-OTC: VCUFF) agreed to acquire the Delta and Helm Bay projects in Alaska from Agnico Eagle Mines (TSX, NYSE: AEM) in a share deal valued at 32 million dollars, or 23.3 million US dollars. The transaction was announced on September 8, 2026 and makes Agnico the largest shareholder in the junior explorer.
Delta is a polymetallic sulphide project located 60 km southwest of Tok and about 700 km northwest of Juneau. Helm Bay is a gold project 35 km north of Ketchikan. Agnico would hold 19.9 percent of Vizsla at closing and 22 percent once disinterested shareholders approve its status as a new control person. That vote is scheduled for November 18. The structure keeps Agnico exposed to both properties through its equity stake, warrants, royalties and as much as 20 million dollars in milestone payments, while exploration spending and development risk shift to Vizsla.
Delta carries a 2006 historical inferred estimate of 15.4 million tonnes grading 0.6 percent copper, 1.6 percent lead, 3.8 percent zinc, 62 grams silver per tonne and 1.7 grams gold per tonne. Vizsla calculates that the estimate contains 204 million pounds of copper, 543 million pounds of lead, 1.29 billion pounds of zinc, 30.7 million ounces of silver and 840,000 ounces of gold. The company said verification work, confirmation drilling and updated geological modelling may be required before a current estimate can be published. Earlier operators spent more than 20 million dollars and drilled more than 25,000 metres at Delta, which covers 161 sq km across 249 state claims. Vizsla shares held at 1.57 dollars in Toronto, valuing the company at 141.5 million dollars.
Source: MINING.COM - https://www.mining.com/agnico-takes-22-of-vizsla-in-32m-alaska-deal/