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Visionary Targets Expansion of Pt. Leamington Deposit, Central Newfoundland
Globenewswireยท2025-09-02 12:30

Core Viewpoint - Visionary Copper and Gold Mines Inc. is set to initiate a comprehensive exploration program at its 100% owned Pt. Leamington Project in Newfoundland, aiming to expand the volcanogenic massive sulphide deposit by targeting high-priority exploration areas, particularly near-surface resources [2][4][5]. Exploration Program Overview - The exploration program marks the first drilling activity in over two decades, focusing on resource expansion and targeting higher-grade zones [3][4]. - The program will include sampling of six historic drill holes to facilitate a broader resampling initiative [3] - The exploration is strategically timed with elevated metal prices, particularly for copper and gold, to maximize the potential value of the Pt. Leamington deposit [4]. Technical Insights - The Pt. Leamington deposit is recognized as one of the higher tonnage deposits in the Newfoundland Appalachians, with significant potential for resource growth due to its open-ended nature in multiple directions [5]. - The exploration will prioritize testing downdip and along-strike extensions, which have proven successful in similar deposits in the region [5]. Project Accessibility and Environmental Compliance - The Pt. Leamington Project is accessible via road and trails, located approximately 18 km from Pt. Leamington and 20 km from the provincial power grid [5]. - All exploration activities will comply with environmental and regulatory standards, ensuring ongoing engagement with local stakeholders [5]. Specific Exploration Targets - The program includes plans to drill two diamond holes to potentially double the near-surface strike length of the deposit to nearly 1.2 km [10]. - The current strike extent of the deposit is 560 m, with historical drilling indicating significant mineralization, including intersections of 6.73 m at 0.19% Cu and 0.97 g/t Au [11]. - A focus will be placed on the Lower Footwall Zone, which has shown potential for resource growth and is not currently included in the pit-constrained resource [19][22]. Resource Estimates - The Pt. Leamington deposit hosts a significant mineral resource, with a pit-constrained Indicated Mineral Resource of 5.0 million tonnes grading 2.5 g/t AuEq, equating to approximately 402,000 ounces of AuEq [32]. - An Inferred Mineral Resource of 13.7 million tonnes grading 2.24 g/t AuEq is also identified, totaling around 986,500 ounces of AuEq [32]. Future Plans - Visionary plans to conduct mineralogical and metallurgical testwork to evaluate recovery methods for copper, zinc, and gold, which will inform a Preliminary Economic Evaluation for the Project [30]. - The exploration strategy aims to unlock additional value by expanding near-surface mineralization and optimizing metallurgical processes [5][30].