Visionary Metals Intercepts Broad Zones of Disseminated, Magmatic Nickel Mineralization in 2023 Drill Program
Visionary Metals Intercepts Broad Zones of
Disseminated, Magmatic Nickel Mineralization
in 2023 Drill Program
Vancouver, British Columbia--(Newsfile Corp. - January 16, 2024) -
Visionary Metals Corp. (TSXV:
VIZ)
("
Visionary
" or the "
Company
") is pleased to announce results from its 2023 Reverse Circulation
("
RC
") drill program at its King Solomon Nickel Project in Central Wyoming (Figure 1).
Highlights include:
6 meters ("m") of 0.52% nickel ("Ni") including 1.5 m of 0.7% Ni in hole KSR23-004, approximately
220 m from last year's intercept of 44 m of 0.23% Ni, including 17 m of 0.42% Ni in KSR22-003
(see March 6, 2023, news release).
Disseminated nickel mineralization in 12 of 14 holes drilled within 1 kilometer ("km") by 600 m
ultramafic body (See Table 1 on Page 4).
Intercumulus, magmatic nickel sulfides identified in polished thin-section analysis of RC chips.
"We are encouraged to see widespread nickel mineralization in all but two RC drill holes in 2023 and
look forward to an expanded diamond core drilling program at King Solomon in 2024," commented
CEO Wes Adams. "The 2023 RC drill program confirmed our hypothesis that King Solomon is a large,
disseminated nickel sulfide deposit and core drilling in 2024 is expected to better define distribution of
mineralization, and determine true widths and grades, as RC drilling is only an indicative exploration tool.
The fact that we have consistently identified magmatic sulfides in thin section analysis is also
encouraging and suggests that there may be additional high-grade nickel mineralization within the
system, as demonstrated in hole KSR23-004."
The King Solomon nickel deposit represents the first of several nickel bearing ultramafic bodies
identified during regional exploration along a structural corridor that has now been traced for 100 km and
bears similar characteristics to other productive nickel deposits which have disseminated mineralization
near surface and high-grade massive sulfide mineralization at depth. Ground based electromagnetic
surveys will be conducted in Spring of 2024 to identify possible high-grade nickel sulfide targets at depth
at King Solomon and at other Visionary prospects, regionally. A comprehensive 2024 exploration plan is
being designed and will be discussed in future news releases.
Figure 1. Granite mountains ultramafic occurrences
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Figure 2. Local geology with 2023 RC drill traces
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King Solomon RC Drill Program Overview
The 2023 exploration program at King Solomon included detailed geological mapping, petrographic
analysis, geophysics (gradient array, induced polarization) and an RC drill campaign using a track-
mounted Schramm 685 rig. A total of 14 drill holes (Figure 2) were drilled for a total of 3,175 m to follow
up on the 2022 intersection in drill hole KS22-003 of 44.5 m of 0.23% Ni, 0.01% Co (from 87 m depth),
including 17.0 m of 0.42% Ni, 0.023% Co and anomalous levels of precious metals (see press release
March 6, 2023). The campaign began at the end of September and was completed at the beginning of
November. Mineralized intercepts were encountered in every hole except for KSR23-008, which was
drilled northeast of the target structure.
Figure 3. Cross-section showing nickel mineralization within magmatic intrusive.
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Table 1. Mineralized Intercepts From 2023 RC Drill Program
Hole
From
(m)
To (m)
Length
(m)
Lithology
Co (ppm)
Cr (ppm)
Cu (ppm)
Fe (%)
Ni %
KSR23-001
89.9
132.6
42.7
Peridotite
63.5
1312.57
26.92
5.12
0.11
KSR23-002
48.8
153.9
105.2
Peridotite
95.2
2930.88
28.57
6.90
0.15
KSR23-003
59.4
132.6
73.2
Peridotite
98.5
3052.81
6.57
6.66
0.16
KSR23-003
160.0
173.7
13.7
Peridotite
84.3
1511.11
7.42
6.58
0.12
KSR23-004
36.6
91.4
54.9
Peridotite
114.3
2500.85
46.95
7.08
0.19
Including
61.0
67.1
6.1
Peridotite
267.9
2266.25
41.35
7.30
0.52
and
64.0
65.5
1.5
Peridotite
155.5
2240.00
0.47
7.22
0.70
KSR23-005
53.3
131.1
77.7
Peridotite
90.2
2476.76
16.16
7.00
0.14
KSR23-005
181.4
205.7
24.4
Peridotite
71.1
1234.63
6.01
7.84
0.10
KSR23-006
65.5
126.5
61.0
Peridotite
87.0
2246.98
90.25
6.25
0.12
KSR23-006
141.7
192.0
50.3
Peridotite
77.3
1616.99
20.58
6.14
0.09
KSR23-007
128.0
135.6
7.6
Peridotite
123.0
3328.00
52.30
10.89
0.11
KSR23-009
118.9
134.1
15.2
Iron Formation
30.2
174.10
1312.00
9.05
0.01
KSR23-010
166.1
172.2
6.1
Amphibolite
82.3
1717.25
118.40
6.87
0.11
KSR23-010
179.8
187.5
7.6
Pyroxenite
84.1
1493.00
206.80
6.62
0.11
KSR23-010
236.2
257.6
21.3
Pyroxenite
66.6
1179.21
6.04
6.81
0.10
KSR23-011
157.0
199.6
42.7
Peridotite
96.9
2223.43
37.71
7.08
0.14
KSR23-012
62.5
94.5
32.0
Peridotite
34.3
3416.71
1.65
8.51
0.14
KSR23-012
141.7
164.6
22.9
Peridotite
98.5
2628.67
25.18
6.85
0.16
KSR23-013
79.2
94.5
15.2
Peridotite
122.5
2269.00
109.77
8.10
0.16
KSR23-014
88.4
158.5
70.1
Peridotite
98.6
2734.78
15.17
7.39
0.15
Mineralization was encountered from approximately 15 m true depth (KS23-004) to a maximum true
depth of 225 m (KS23-005, KS23-0010). Nickel values are lower and often wider than in the 2022
discovery diamond core drill hole KS22-003. For example, adjacent hole KSR23-014 intersected 70 m
at 0.15 % Ni compared to core hole KS22-003 44.5 m of 0.23% Ni. The decrease in nickel grades and
increase in down hole width could be the result of sample dilution and mixing. An unexpected and large
amount of groundwater was encountered in many of the RC holes, potentially causing the loss of fines in
the slurry water and mixing of material in sample intervals. Core drilling will be required to further define
the exact widths and grades of mineralization.
Thin Section Analysis
Polished thin-section samples were observed with a Leitz SM-Lux incident and transmitted light
polarizing microscope.
Samples of hand selected chips from six reverse circulation drill holes (KSR23-003-005, 007, 010,
013) contain disseminated, cuspate, intercumulus, magmatic pyrrhotite-pentlandite/violarite
assemblages.
Magnetite-rich nickel mineralization only occurs near last year's intersection in core hole KS22-
003, suggesting this area represents a local zone of digested magnetite-garnet sediment rafts.
The bulk of the ultramafic intrusion contains typical magmatic pyrrhotite-nickel sulfide
mineralization.
Such primary igneous features suggest high potential for massive nickel sulfides.
Regional Geology and Exploration Summary
The Granite Mountains district is dominated by Archean granite, granite-gneiss and banded iron
formation, within which younger Archean peridotite to pyroxenite bodies occur over a length of 100 km,
defining an underexplored Archean Greenstone Belt (Figure 1). Visionary's land package covers many
of these outcropping ultramafic bodies and has recently expanded to approximately 13,686 acres, or
55km
2
including 520 unpatented 20-acre mining claims on Bureau of Land Management lands and 3286
acres of Wyoming State lease lands.
During the 2023 field season, many nickeliferous ultramafic
occurrences were inspected, all of which were unexplored prior to Visionary's exploration efforts.
Visionary's inhouse geophysical crews conducted ground magnetic, dipole-dipole, and gradient array
induced polarization ("IP") surveys. We have now identified many magnetic anomalies west of King
Solomon that correspond with interpreted ultramafics at Tin Cup to the west of King Solomon. A drill-
ready target exists 900 m west of King Solomon, at the Dumbbell prospect, on an outcropping peridotite
with a coincident gradient array IP anomaly. Tin Cup contains numerous drill-ready ultramafic-IP targets.
Disseminated nickel sulfides have been identified microscopically in an olivine pyroxenite 20 km east of
King Solomon. All of this highlights the excellent potential for nickel sulfide discoveries regionally and
within Visionary's strong land position and proximity to excellent infrastructure.
Next Steps
The 2024 field season will focus on electromagnetic surveying ("EM") surveying to evaluate for potential
massive sulfide bodies at depth and core drilling to determine actual grades and widths and to increase
knowledge of the broad zones of mineralization intercepted in the 2023 RC drill program at King
Solomon. Regional nickel exploration in the Granite Mountains is planned to include core drilling at Tin
Cup, 9 km West of King Solomon and at Dumbbell, which is a new nickel target identified 1 km west of
King Solomon.
EM Surveys will also take place at these locations and at Black Rock, where hole BR22-
001 intercepted 33 m of 0.15% nickel in the 2022 drill program.
Technical Disclosure, Quality Assurance/Quality Control (QA/QC):
A qualified geologist supervised the entire drill campaign and was on site for logging, sampling and
monitoring of drill activities. The Schramm 685 RC rig came with 10-foot (3.05 m) rods and an attached
sampling cyclone with sample splitter. Two samples of approximately 5 kg were collected for each 5-foot
(1.52 m) drill interval, as well as sieved samples for logging chip trays.
One bagged sample was retained for archival purposes and one sample was shipped to the ALS
Minerals Laboratory in Reno, Nevada (ALS) (ISO/IEC 17025:2017 accredited) from Visionary's secure
core logging facility. Shipping from site to the shipper was supervised by Visionary staff. Bags contained
a unique barcoded sample number that was trackable in the ALS system.
Prior to shipping, Visionary staff inserted the following QA/QC samples after approximately every 20
th
sample: An internationally certified, low grade nickel sulfide sample assaying 0.63% Ni (Geostats Pty.
Ltd., certified geochemical base metal reference material: GBM997-5); a commercially available marble
blank, and some previous drill sample duplicates.
Upon receipt at the lab, samples were scanned into a laboratory information management system
(LIMS) for sample tracking, scheduling, quality control, and electronic reporting. Samples were dried in
special drying ovens prior to crushing. The samples were crushed to -2 mm and a riffle split of 250
grams was then pulverized to 85% achieving a size of <75 microns using a low chrome steel, ring-puck
pulverizing vessels. Quality control testing of pulverizing efficiency was routinely conducted by ALS. The
lab also conducted its own analysis QA/QC, inserting internationally certified standards, blanks, and
duplicates. Samples for holes KSR23-002 to 014 were analyzed at the ALS laboratory in Vancouver,
British Columbia, Canada by method ME-MS61, a high precision, multi-acid digest including
Hydrofluoric, Nitric, Perchloric and Hydrochloric acids. Hole KSR23-001, which was analyzed with
Method ME-MS41, a low detection limit aqua regia method. Each aliquot was analysed by ICP
(inductively coupled plasma) mass spectrometry that produced results for 48 elements. Chip tray
intervals were analysed qualitatively with a handheld Olympus Vanta Xray Fluorescence (XRF) unit to
help guide geological logging of drill chips. At the start of each run, the instrument was calibrated with the
machine's calibration disk. The GBM997-5 nickel standard and a blank disk were analyzed after
approximately every 20
th
sample.
Qualified Person
The scientific and technical information in this announcement as it relates to exploration results is based
on information reviewed by Mr. Michael Page (FAusIMM), a Qualified Person pursuant to National
Instrument 43-101 -
Standards of Disclosure for Mineral Projects
of the Canadian Securities
Administrators ("
NI 43-101
"). Mr. Page has 50 years of relevant nickel exploration experience in the
style of mineralization under consideration and fulfills the requirements to be a Qualified Person. Mr.
Page consents to the inclusion in this announcement of the matters based on his information in the form
and context in which it appears. Mr. Page is the Company's Chief Geologist.
Visionary Metals Corp. is a Vancouver-based mineral exploration company focused on making new
electric metals discoveries in Fremont County, Wyoming. Visionary's mission is to explore responsibly
and to develop resources in a manner that is beneficial to all stakeholders. While central Wyoming has a
strong mining history and favourable geologic conditions to host many types of metal deposits, it has
never been systematically explored using modern techniques. The Company now controls a land
package greater than 80 square kilometres with numerous drill ready targets, all accessible by road and
within a one-hour drive from Visionary's US headquarters in Lander County, Wyoming.
Contact:
Wesley Adams, Chief Executive Officer
Visionary Metals Corp.
407-325 Howe Street
Vancouver, BC V6C 1Z7
Tel: (303) 809-4668
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities
legislation. These include, without limitation, statements with respect to undertaking a diamond core
drilling program at King Solomon in 2024 and the expected results therefrom, conducting ground based
electromagnetic surveys in Spring of 2024, the dissemination of information regarding a 2024
exploration plan by the Company, the potential for nickel sulfide discoveries regionally, conducting EM
surveying and other regional nickel exploration plans.
Forward-looking statements are necessarily based on estimates and assumptions that, while
considered reasonable, are subject to known and unknown risks, uncertainties and other factors which
may cause actual results and future events to differ materially from those expressed or implied by such
forward-looking statements. Such factors include, but are not limited to general business, economic and
regulatory risks; capital and operating costs varying significantly from management estimates; timing of
the provision of services by third parties; delays in obtaining or failures to obtain required governmental,
environmental or other project approvals; uncertainties relating to the availability and costs of financing
needed in the future; inflation; fluctuations in commodity prices; delays in the development of projects;
and the other risks involved in the mineral exploration and development industry generally. Although the
Company believes that the assumptions and factors used in preparing the forward-looking statements
are reasonable, undue reliance should not be placed on these statements, which only apply as of the
date of this news release, and no assurance can be given that such events will occur in the disclosed
time frames or at all. Except where required by law, the Company disclaims any intention or obligation to
update or revise any forward-looking statement, whether because of new information, future events, or
otherwise.
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.
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