Visionary Expands Its Land Position at Pt. Leamington Project, Newfoundland
Visionary advances VMS exploration at its Pt. Leamington project in Newfoundland through ongoing land consolidation efforts.
Visionary Copper and Gold Mines Inc. has entered into an agreement to acquire a 100% interest in three mineral licences comprising 69 mineral claims, known as the "French claims," from V.A. French Geological Consultants Inc. The transaction consolidates the company's land position along the Pt. Leamington Volcanogenic Massive Sulphide (VMS) trend in central Newfoundland, making the French claims contiguous with the previously acquired Stockley claims.
Consideration for the deal includes C$10,000 in cash, C$30,000 in common shares, and a 1.0% Net Smelter Return (NSR) royalty retained by the vendor. Visionary holds a one-time right to purchase the entire royalty for C$1,000,000, which would reduce it to 0%. The acquisition is subject to TSX Venture Exchange approval and consolidates ground containing historical geophysical conductors and massive sulphide boulders. The company aims to evaluate the area as a single geological system rather than separate claim blocks, supporting its Phase 2 exploration strategy.
Visionary Copper and Gold Mines Inc. (VCG) has completed a routine land consolidation step, acquiring additional ground to secure the full strike and down-plunge potential of the Pt. Leamington VMS trend. The financial consideration for the acquisition is immaterial, totaling C$40,000, with a 1% NSR royalty that is standard for early-stage acquisitions in Newfoundland.
The transaction does not introduce new drilling results, resource updates, or financing events. Instead, it serves as an incremental step in securing exploration ground ahead of the planned Phase 2 drilling program. The market impact is expected to be neutral to slightly positive, as the move removes potential land tenure risks and consolidates targets for the upcoming drill program.
Visionary Copper and Gold Mines Inc. is an exploration-stage company focused on base and precious metals in Canada. Its flagship project is the Pt. Leamington VMS deposit in central Newfoundland, which hosts a 2021 Indicated Resource of 5.0 Mt at 1.42% CuEq and an Inferred Resource of 15.4 Mt at 1.32% CuEq. The company recently discovered the "Kraken" copper-rich footwall stringer zone during Phase 1 drilling. This zone lies outside the current resource estimate and represents a potential near-surface expansion.
Secondary assets include the Pine Bay Project in Manitoba, featuring the Rainbow deposit with 3.44 Mt Indicated at 3.59% CuEq, and the Nash Creek Project in New Brunswick. The company has expanded its land package to approximately 30,000 hectares, securing key VMS targets and historical exploration data from major operators like BHP/Billiton and Noranda.