Visionary Consolidates Ground Down-Plunge from Pt. Leamington Deposit and Southern Trend, Securing Five Airborne EM Conductors on the Host Horizon, Two with Historical Massive Sulphide Boulders
Visionary Consolidates Ground Down-Plunge
from Pt. Leamington Deposit and Southern
Trend, Securing Five Airborne EM Conductors
on the Host Horizon, Two with Historical
Massive Sulphide Boulders
Highlights:
Land Consolidation Provides Room for Growth at Depth:
Visionary has acquired additional
ground along the projected down-plunge trend of the Pt. Leamington VMS deposit (the "Deposit"),
providing opportunity to expand the Deposit at depth. Major VMS deposits commonly extend well
below their initial discovery footprint.
Southern Pt. Leamington Trend consolidated:
The Company has acquired the ground
immediately south of the Deposit along the Pt. Leamington Trend, where a modern airborne
electromagnetic ("EM") survey has identified five isolated conductors interpreted to lie on the
same stratigraphic horizon that hosts the Deposit.
Discovery-style targets:
Two of the five conductors have historically reported massive sulphide
boulders nearby - the same combination of an airborne EM anomaly and proximal massive
sulphide boulders that led to the discovery of the Pt. Leamington Deposit.
Near-term targets for Phase 2:
The new targets complement the Company's planned 20,000-
metre Phase 2 drilling program at the Deposit.
Vancouver, British Columbia--(Newsfile Corp. - September 22, 2026) - Visionary Copper and Gold
Mines Inc. (TSXV: VCG) (OTCQB: VCGMF) (the "Company" or "Visionary") is pleased to announce that
it has consolidated the land package covering the interpreted down-plunge extent of its 100%-owned
gold/copper/zinc/silver Pt. Leamington Volcanogenic Massive Sulphide ("VMS") deposit (the "Deposit")
in central Newfoundland. In addition, the Company has acquired the ground immediately to the south of
the Deposit, consolidating the southern portion of the Pt. Leamington Trend (the "Trend"), where a
modern airborne EM survey has outlined five isolated conductors interpreted to occur on the Deposit's
host horizon. The newly acquired and staked ground total approximately 3,575 hectares across six
mineral licences comprising 143 Mineral Claims. These acquisitions bring Visionary's Pt. Leamington
land position to approximately 33,000 hectares (
See Pt. Leamington Claim Acquisition Map with
EM
Conductors and Massive Sulphide Boulders
).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3408/315390_d572147f64ae8af5_001full.jpg
Max Porterfield, President and CEO of Visionary, stated,
"With this consolidation, Visionary now
controls the Pt. Leamington deposit from the surface through its down-plunge projection, as well as the
most prospective ground along the trend to the south. VMS deposits are known for continuing to
significant depths, and we believe securing the full depth potential of Pt. Leamington is essential to
unlocking the long-term value of the Deposit."
Mr. Porterfield continued,
"To the south, we have now
consolidated ground around five airborne EM conductors on the same horizon as Pt. Leamington, two
of which have massive sulphide boulders reported nearby. That is exactly how Pt. Leamington itself
was found, and we look forward to testing these targets."
Jason Flight, Visionary's Vice President of Exploration, commented,
"Pt. Leamington's story began with
an airborne conductor and massive sulphide boulders, and the first hole drilled into that target
discovered the Deposit. Having five conductors on the same host stratigraphy, two with nearby
massive sulphide boulders, gives us a clear and proven exploration model to follow along the
southern trend."
Down-Plunge Consolidation: Securing the Depth Potential of Pt. Leamington
VMS deposits frequently extend to considerable depths, often well beyond the limits of early drilling. The
Pt. Leamington Deposit has been drilled to a vertical depth of approximately 400 metres and the 2021
Mineral Resource Estimate is predominantly pit-constrained, leaving the deeper, down-plunge portion of
the mineralized system largely untested. The newly consolidated ground now places the entire
interpreted down-plunge projection of the Deposit within Visionary's land package.
FireFly Metals Ltd.'s Ming deposit in north-central Newfoundland illustrates the scale and depth potential
of VMS systems, extending approximately 3 kilometres along plunge and remaining open at depth. Its
footwall stringer zone reaches approximately 150 metres in thickness and exceeds 200 metres in width.
FireFly's August 25, 2026 resource update reported 57.3 Mt of Measured and Indicated Mineral
Resources grading 2.4% CuEq and 17.3 Mt of Inferred Mineral Resources grading 2.8% CuEq (see
FireFly Metals Ltd., "Ming Underground Mine" and August 25, 2026 resource disclosure).
Southern Pt. Leamington Trend: Five Airborne EM Conductors on the Host Horizon
The acquired ground immediately south of the Deposit covers approximately 3km segment of the trend
that hosts the Pt. Leamington deposit. In 2007 Fugro Airborne Surveys was commissioned by TLC
Ventures Corp. to complete HeliGeoTEM over its Point Leamington Property. This survey identified five
isolated airborne EM conductors (the "Southern Targets") that are interpreted to lie on the same volcanic
stratigraphic horizon that hosts the Pt. Leamington Deposit.
Historical exploration by previous operators reported massive sulphide boulders at surface in proximity
to two of the five southern targets.
A Proven Discovery Model
The Pt. Leamington Deposit was discovered in the 1970s by Noranda Exploration Co. Ltd. following an
airborne EM anomaly, after which massive sulphide boulders were found in proximity to the conductor.
The first hole drilled to test the target intersected massive sulphide mineralization and became the
discovery hole for the Deposit that Visionary is advancing today. The Southern Targets display the same
geological and geophysical signature - airborne EM conductors on the Pt. Leamington host horizon with
nearby massive sulphide boulders - making them high-priority targets for ground follow-up and drilling.
Transaction Terms
Visionary entered into a mineral property purchase agreement with Stephen Stockley Agriculture and
Fabrication Inc. (the "Vendor") whereby the Vendor has agreed to sell three (3) mineral licenses to
Visionary and, in consideration of which, Visionary will pay the Vendor C$10,000 and issue the Vendor
C$40,000 of common shares of Visionary (the "Consideration Shares").
The Consideration Shares will
be issued at a price equal to the greater of the 60 day volume weighted average price of the common
shares of Visionary prior to the date of the Agreement and the Discounted Market Price (as defined by
the rules of the TSX Venture Exchange).
In addition, the Vendor will receive a 1% net smelter return
royalty, which may be repurchased with a one time payment of C$1,000,000.
The Consideration Shares will be subject to restrictions on resale for a period of four months.
The
Agreement and the transactions contemplated therein are subject to the acceptance of the TSX Venture
Exchange.
Cautionary Statements
Mineralization hosted on adjacent or nearby properties, including FireFly Metals' Ming deposit, is not
necessarily indicative of mineralization on the Company's Pt. Leamington Project. Information regarding
the Ming deposit has been taken from FireFly's public disclosure and has not been verified by the
Company's qualified person.
The historical massive sulphide boulder occurrences described in this news release are historical in
nature and have not been verified by the Company's qualified person. The Company is not treating this
information as current and it should not be relied upon. Airborne EM conductors may be caused by
sources other than massive sulphide mineralization, including graphitic or clay-rich rocks, and there is no
certainty that drilling will intersect mineralization.
Pt. Leamington Mineral Resource
The Pt. Leamington Mineral Resource Estimate was prepared by P&E Mining Consultants Inc. ("P&E")
for Callinex Mines Inc. The NI 43-101 Technical Report had an effective date of August 20, 2021, signing
date of December 5, 2023 and was filed on December 18, 2023 and the table below states the mineral
resources from the P&E 2021 Technical Report.
Resource
Tonnes
(Mt)
Au
Ag
Cu
Pb
Zn
CuEq
g/t
koz
g/t
Moz
%
Mlb
%
Mlb
%
Mlb
%
Mlb
Pit Indicated
5.013
0.90
145.7
12.2
2.0
0.54
60.0
0.01
1.5
1.39
153.5
1.42
156.8
Pit Inferred
13.727
0.80
354.8
14.0
6.2
0.36
110.2
0.02
7.0
1.74
527.3
1.27
384.8
Out-of-Pit
Inferred
1.713
1.19
65.4
25.5
1.4
0.35
13.3
0.07
2.6
2.72
102.9
1.74
65.7
Total Indicated
5.013
0.90
145.7
12.2
2.0
0.54
60.0
0.01
1.5
1.39
153.5
1.42
156.8
Total Inferred
15.440
0.85
420.2
15.3
7.6
0.36
123.5
0.03
9.6
1.85
630.1
1.32
450.5
Table 1. Pt. Leamington Mineral Resource Estimate. Source: P&E Mining Consultants Inc., NI 43-101
Technical Report - Pt. Leamington Project, Newfoundland, Canada, Report No. 403, effective August
20, 2021 with a signing date of December 5, 2023.
1. Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability.
2. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing or other
relevant issues.
3. The Inferred Mineral Resource has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a
Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource
with continued exploration.
4. Mineral Resources were classified in accordance with CIM Definition Standards (2014) and CIM Best Practices Guidelines (2019).
5. The 2021 Mineral Resource Estimate used C$25/t NSR cut-offs for pit-constrained Indicated and Inferred Mineral Resources and C$75/t for out-of-
pit Inferred Mineral Resources. Copper-equivalent values were calculated using the following metal prices: Au at US$1,625/oz, Cu at US$3.50/lb, Zn
US$1.20/lb, Ag at US$22/oz. Foreign exchange rate of CDN$1.00 = US$0.77. Metallurgical recoveries have been estimated to be 75% gold, 80%
copper, 85% zinc and 25% silver. Smelter payables have been estimated to be 85% gold, 90% copper, 85% zinc and 90% silver.
Qualified Person
The technical information contained in this news release has been reviewed and approved by Jason
Flight, P
.
Geo., a "qualified person" under NI 43-101. Mr. Flight is not independent under NI 43-101 as
he is Vice President of Exploration for the Company.
About Visionary Copper and Gold Mines Inc.
Visionary Copper and Gold Mines Inc.
(TSXV: VCG) (OTCQB: VCGMF)
is advancing its portfolio of
base and precious metals rich deposits located in established Canadian mining jurisdictions. The
focus of the portfolio is highlighted by the 100% owned Pt. Leamington Deposit in Newfoundland,
located in one of the richest VMS and Gold Districts in Canada. The Company prepared a pit
constrained Indicated Mineral Resource of 5.0 Mt grading 1.42% CuEq for 156.8 Mlb CuEq (145.7
koz gold, 60.0 Mlb copper, 153.5 Mlb zinc, 2.0 Moz silver, 1.5 Mlb lead), a pit constrained Inferred
Mineral Resource of 13.7 Mt grading 1.27% CuEq for 384.8 Mlb CuEq (354.8 koz gold, 110.2 Mlb
copper, 527.3 Mlb zinc, 6.2 Moz silver, 7.0 Mlb lead) and an out-of-pit Inferred Mineral Resource of
1.7 Mt grading 1.74% CuEq for 65.7 Mlb CuEq (65.4 koz gold, 13.3 Mlb copper, 102.9 Mlb zinc, 1.4
Moz Ag, 2.6 Mlb lead) (see news release dated October 25, 2021). Additionally the Company is
permitting the Rainbow deposit at its rich VMS Pine Bay Project located near existing infrastructure in
the Flin Flon Mining District. The Company prepared an indicated mineral resource on the Rainbow
deposit of 3.44 Mt grading 3.59% CuEq for 272.4 Mlb CuEq (238.3 Mlb Cu, 56.9 Mlb Zn, 37.6 koz Au,
692.8 koz Ag, 2.3 Mlb Pb), an inferred mineral resource on the Rainbow deposit of 1.28 Mt grading
2.95% CuEq containing 83.4 Mlb CuEq (72.1 Mlb Cu, 19.5 Mlb Zn, 11.1 koz Au, 222.2 Koz Ag, 0.8
Mlb Pb) and an inferred mineral resource at the Pine Bay deposit of 1.0 Mt grading 2.62% Cu
containing 58.1 Mlb Cu (see news release dated July 10, 2023). Additionally, the portfolio includes the
Nash Creek Project located in the VMS rich Bathurst Mining District of New Brunswick. A 2018 PEA
generates a strong economic return with a pre-tax IRR of 34.1% (25.2% post-tax) and NPV8% of $230
million ($128 million post-tax) at $1.25 Zinc (see news release dated May 14, 2018).
For additional information, please contact:
Visionary Copper and Gold Mines Inc.
Max Porterfield, President and Chief Executive Officer
Phone:
(604) 605-0885
E-mail:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Some statements in this news release contain forward-looking information. These statements include,
but are not limited to, statements with respect to future expenditures. These statements address future
events and conditions and, as such, involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by the statements. Such factors
include, among others, the ability to complete the proposed drill program, additional capital
requirements for its work programs and the timing and amount of expenditures. Except as required
under applicable securities laws, Visionary does not assume the obligation to update any forward-
looking statement
.
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