Volcanogenic Massive Sulphide (VMS) Deposit

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Visionary Targets Expansion of Pt. Leamington Deposit, Central Newfoundland
Globenewswire· 2025-09-02 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].
Respected VMS Geologist and Industry Leader Peter Dimmell Joins Callinex’s Board of Directors
Globenewswire· 2025-07-30 12:30
Core Viewpoint - Callinex Mines Inc. has appointed Mr. Peter Dimmell as the lead director on the technical committee, bringing over 50 years of exploration experience to advance the Pt. Leamington Project in Newfoundland [2][3][7]. Company Developments - Mr. Dimmell was part of the discovery team for the Pt. Leamington VMS deposit and has extensive experience with other mines in Newfoundland [3][7]. - The Pt. Leamington Project has a pit constrained Indicated Mineral Resource of 5.0 million tonnes grading 2.5 g/t AuEq, totaling 402,000 ounces AuEq, and an Inferred Mineral Resource of 13.7 million tonnes grading 2.24 g/t AuEq, totaling 986,500 ounces AuEq [4][11]. - The deposit is characterized as a large, felsic-hosted VMS deposit with a strike length of 500 meters and a maximum thickness of 85 meters, with drilling indicating massive sulphides to a depth of 360 meters [5][11]. Strategic Moves - Callinex has entered into a purchase agreement to acquire a mineral license consisting of 5 claims adjacent to the Pt. Leamington Project, issuing 50,000 common shares to the vendor [8][9]. - The transaction includes a 1% net smelter return royalty, which can be repurchased for C$1,000,000, subject to TSX Venture Exchange acceptance [9].