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THE JOURNAL - AN OFFICIAL PUBLICATION BY THE ALASKA MINERS ASSOCIATION
DECEMBER 2025 | WWW.ALASKAMINERS.ORG
Vizsla Copper announces acquisition of Palmer Critical Minerals VMS project BY NORTH OF 60 MINING NEWS & COURTESY VIZSLA COPPER
upside," said American Pacific Mining CEO Warwick Smith. "Vizsla's leader- ship team has been behind multiple billion-dollar valuations (Vizsla Silver, Skeena Resources), with the proven technical abilities and commitment necessary to move Palmer forward expeditiously during what we believe will be the most exciting critical metals market in generations." In preparation for the transaction, Vizsla Copper is consolidating its shares on a 10-to-1 basis and raising C$25 million ($17.9 million) through a private placement that will involve the issuance of 18.5 million post-con- solidated shares at C$1.08 each for C$20 million ($14.3 million), plus a combination of flow-through shares priced at C$1.24 each and charity flow-through shares at C$1.72 each for an additional C$5 million ($3.6 million). The cash raised from flow- through and charity flow-through shares must be invested in Canadian projects.
for an option to acquire up to 50% of the zinc concentrate produced from a future mine at the Southeast Alaska project. Without a major backer with the financial and technical wherewithal to advance Palmer through permit- ting and into development, American Pacific put the project up for sale. Vizsla Copper, a Vancouver-based mineral exploration company advancing the Poplar and Woodjam projects in Southern British Colum- bia, has agreed to acquire the high- grade VMS project for C$15 million ($10.7 million) in Vizsla shares and C$15 million in milestone payments of either cash or shares. "Our strategy has always centered around executing transactions that deliver value and upside for our shareholders, and we see the best path forward for Palmer as one that's led by a dedicated group with the resources to unlock the exploration
million lb) lead, 66.3 g/t (25.6 million oz) silver, 0.33 g/t (128,100 oz) gold, and 25.5% (3.05 million metric tons) barite. Five of the mineral commodities in the Palmer resource — barite, copper, lead, silver, and zinc — are on the final 2025 list of critical minerals published recently by the U.S. Geo- logical Survey. American Pacific became involved in the Palmer project through the buyout of Constantine Metal Resources Ltd. in 2022. As a result of the acquisition, the company gained a roughly 45% joint venture interest in Palmer, with Dowa Metals & Mining Alaska Ltd. owning the remaining interest in the high-grade volcanogenic massive sulfide (VMS) zinc-copper-silver- gold-barite mine project. Last November, Dowa handed over full ownership of Palmer to American Pacific and paid the junior exploration company $10 million (C$14 million)
V izsla Copper Corp. announced in November that it has reached a deal to acquire the Palmer critical and precious metals project in Southeast Alaska from American Pacific Mining Corp. for $21.4 million. "This is a transformational day for Vizsla Copper," said Vizsla Copper Chairman and CEO Craig Parry. “I’ve spent the past 25 years searching for high-grade copper deposits and understand how rare it is to find a project like Palmer, and even rarer to find one in such a strategic loca- tion. High-grade projects like Palmer allow for tremendous flexibility when it comes to delivering environ- mentally sustainable small footprint operations. Importantly, we pride
and news flow. The team and I look forward to building Vizsla Copper into the preeminent North Ameri- can critical minerals explorer and developer.” Located toward the north end of the Southeast Alaska Panhandle near the port town of Haines, Palmer hosts 4.77 million metric tons of indicated resource averaging 1.69% (178 million lb) copper, 5.17% (543 million pounds) zinc, 0.14% (14.2 million lb) lead, 28.4 grams per metric ton (4.4 million oz) silver, 0.29 g/t (439,000 oz) gold, and 20.6% (980,400 metric tons) barite. In addition, the project hosts 12 million metric tons of inferred resource aver- aging 0.57% (151.5 million lb) copper, 3.92% (1.04 billion lb) zinc, 0.47% (124.2
ourselves on working constructively in collaboration and consultation with traditional landowners and communities and look forward to engaging positively with people and groups in the region. "The world and the United States are desperate for critical mineral projects, further emphasizing the importance of Palmer. Simply put, this is the right asset at the right time. We thank the team at Ameri- can Pacific for working to complete this agreement in a timely manner. We look forward to deploying a two- pronged approach in 2026, advanc- ing the Palmer Project in Alaska while simultaneously advancing the Thira discovery in British Columbia, resulting in year-round exploration
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