Visionary Outlines 20,000-Metre Phase 2 Drill Program to Grow Pt. Leamington Resource and Advance Kraken Copper Discovery
Visionary launches a 20km Phase 2 drill program targeting resource upgrades and defining the Kraken zone.
Visionary Copper and Gold Mines Inc. announced a 20,000-metre Phase 2 diamond drilling program at its 100%-owned Pt. Leamington Project in Newfoundland. The initiative aims to convert approximately 50% of the 13.7 million tonnes of pit-constrained Inferred Mineral Resources to the Indicated category. Objectives include expanding the massive sulphide resource, defining the newly discovered Kraken copper-rich footwall stringer zone, and testing for regional VMS extensions.
Phase 1 drilling, consisting of 10 holes totaling 3,556 metres, successfully extended the system to over 1km of strike and identified the Kraken zone. This discovery was highlighted by an intercept of 75.8m at 0.45% Cu in hole PL-112. The 2021 Mineral Resource Estimate serves as the baseline, reporting 5.013 Mt Indicated at 1.42% CuEq and 15.440 Mt Inferred at 1.27-1.74% CuEq.
Technical parameters for the resource estimate use C$25/t NSR for pit-constrained resources and C$75/t for out-of-pit Inferred material. Metal prices applied in the estimate were $1,625/oz Au, $3.50/lb Cu, $1.20/lb Zn, and $22/oz Ag. The Qualified Person is Jason Flight, P. Geo., Vice President of Exploration, who is not independent under NI 43-101.
Visionary Copper and Gold Mines Inc. (VCG) announced the scope and objectives of its Phase 2 drilling program, which follows regulatory approval received on September 2, 2026, and the selection by the Junta de Energía Eléctrica (JEA). This release marks an expected, incremental step in the exploration lifecycle, aligning with previous management guidance to upgrade resources and define the Kraken target ahead of a Preliminary Economic Assessment (PEA).
The company did not announce any new discoveries, financing, or strategic partnerships. The market was already aware of the Phase 2 approval and the intent to drill.
Visionary Copper and Gold Mines Inc. is a mineral exploration and development company focused on base and precious metals in Canada. Its flagship project is Pt. Leamington, a felsic-hosted Volcanogenic Massive Sulphide (VMS) deposit in central Newfoundland. The project hosts a substantial pit-constrained Indicated resource of 5.0 Mt and Inferred resources of 15.4 Mt.
The project benefits from a 100% ownership structure and a recently expanded ~30,000-hectare land package encompassing the historic Lewis Lake VMS target area. Additional portfolio assets include the Rainbow and Pine Bay projects in Manitoba, and the Nash Creek Project in New Brunswick.