VISIBLE GOLD EXPANDS HORSEFLY GOLD PROPERTY BY 170 KM Superscript 2 IMMEDIATELY WEST OF IAMGOLD'S NELLIGAN MINING COMPLEX
Visible Gold pivots to aggressive expansion under new leadership following $3 million asset liquidation.
The most recent news (March 2, 2026) announces a significant 170 km² expansion of the Horsefly gold property in Quebec. Visible Gold acquired 304 mining claims immediately west of IAMGOLD’s Nelligan Mining Complex for $150,000 cash and 1,000,000 common shares. Crucially, the vendor retains 0% royalties, giving Visible Gold 100% unencumbered ownership. This follows the February 23, 2026, appointment of Jean-Marc Lacoste as CEO, a veteran with a track record of $250 million in M&A.
The news is Routine - Positive. While the land expansion is large (tripling the project size) and strategically located near a 11.8-million-ounce gold system (Nelligan), it is a logical follow-up to the corporate update provided in October 2025. The market was already aware that Horsefly was the "flagship" and that the company had $1.5 million in fresh cash from the Fokus Mining asset sale to fund such moves. - Strategic Alignment: The acquisition validates the new CEO's mandate to "identify and advance high-quality gold opportunities." - Financial Impact: The $150k cash outlay is manageable given the $750k final payment received from Fokus in January 2026. - Operational Impact: The 0% royalty status is a rare and highly positive attribute for an exploration-stage property, increasing the project's long-term net present value (NPV).
Visible Gold Mines is a Quebec-focused explorer. Its flagship is the Horsefly Property, located 19 km west of IAMGOLD’s Nelligan project. The property targets gold-bearing deformation corridors and felsic intrusions similar to the Nelligan deposit. Following the recent expansion, the project covers 392 claims. The company also holds the MegaLi Lithium project (100% owned after SPOD Lithium default) and the Veronik gold property.