Visionary Copper and Gold Mines Inc. has announced significant progress across multiple fronts at its Pt. Leamington Project in central Newfoundland. The company has submitted Phase 2 drilling permits, filed prospecting permits for a newly expanded regional land package covering approximately 30,000 hectares, and mobilized field personnel to the site.
Phase 2 Drilling and Prospecting Permits
An application for Exploration Approval has been submitted to the Newfoundland and Labrador Department of Energy and Mines for a Phase 2 diamond drilling program at the Pt. Leamington VMS Deposit on Mining Lease 136. This program aims to upgrade and expand the existing mineral resource and further define the Kraken Zone discovered during Phase 1. Concurrently, a permit for prospecting, geochemical sampling, and ground-based geophysical surveying has been filed covering all 21 mineral licenses in the expanded ~30,000 hectare land package, including the Lewis Lake area.
Field Personnel Mobilized
Field teams are now on site, engaged in ground truthing of identified VMS target areas across the newly expanded regional package and preparing for the upcoming Phase 2 drilling program.
Phase 1 Drilling Highlights
The Phase 1 program successfully intersected mineralization in every hole drilled in the Kraken Zone. Notable results include 75.8 meters of 0.45% copper (hole PL-112), 41.5 meters of 0.39% copper including 7.5 meters of 0.89% copper (PL-118), and 52.7 meters of 0.30% copper (PL-115). The Kraken Zone remains open for expansion.
Regional Lewis Lake Targets
Multiple undrilled and partially tested off-hole electromagnetic conductors, IP chargeability anomalies, and untested airborne targets have been identified in the Wild Bight Group, the host of the Pt. Leamington VMS deposit. Previous work by Billiton/BHP concluded that the Lewis Lake area has an environment permissive to host a massive sulphide deposit similar to Pt. Leamington.
Max Porterfield, President and CEO of Visionary, commented: "The Phase 1 program delivered everything we hoped for, with mineralization in every Kraken hole and wide intervals of base metals across over 800 meters of strike. With permits submitted, rigs being lined up, and our people on the ground preparing the site and ground-truthing regional targets, Visionary is executing on all fronts simultaneously."
