Visionary Copper and Gold Mines Reports Wide Intersections of Copper and Gold at Pt. Leamington Deposit with Mineralization in Every Hole at the New Kraken Zone
- Drill hole PL-118 intersected wide intervals of gold, silver, copper and zinc:
| Interval m | Au g/t | Ag g/t | Cu % | Zn % |
| 9.7 | 0.62 | 21.28 | 0.47 | 2.51 |
| 10.5 | 0.30 | 9.19 | 0.45 | 2.52 |
| 13.1 | 0.58 | 17.23 | 0.33 | 3.12 |
| 29.6 | 1.24 | 9.88 | 0.80 | 1.59 |
| 22.5 | 0.14 | 2.37 | 0.53 | 0.03 |
| 41.5 | 0.04 | 1.85 | 0.39 | 0.03 |
| 7.5 | 0.04 | 4.98 | 0.89 | 0.11 |
- All of the holes drilled to test the Kraken zone intersected base and precious metals mineralization; which remains open in all directions; and
- Results from Phase 1 positions the Company to expand and upgrade the current Pt. Leamington mineral resources as well as the opportunity to further define and expand the Kraken zone.
Vancouver, British Columbia--(Newsfile Corp. - May 13, 2026) - Visionary Copper and Gold Mines Inc. (TSXV: VCG) (OTCQB: VCGMF) (the "Company" or "Visionary") is pleased to announce drilling results from the recently concluded Phase 1 exploration program at the 100% owned Pt. Leamington Project (the "Project") located in central Newfoundland (See News Release Dated April 1, 2026). The property is accessible by road and trails, approximately 18km and 37km from the towns of Pt. Leamington and Grand Falls-Windsor and 20km from the provincial power grid.
Max Porterfield, Visionary President & CEO, stated, "Today's results confirm the continuity of the emerging Kraken zone and the potential to improve the existing near surface gold, copper, zinc and silver rich Pt. Leamington deposit through further exploration." Max continued, "The Phase 1 program positions Visionary to quickly upgrade and expand the Pt. Leamington resource estimate while concurrently expanding the adjacent Kraken, in the next phase of drilling."
The program was successful in both expanding the Pt. Leamington volcanogenic massive sulphide ("VMS") deposit (the "Deposit") strike to over 1km in drill hole PL-111, discovering a new copper-rich zone of mineralization (the "Kraken") intersecting 75.8m of 0.45% Cu (248.2m to 324m) and an additional 23.5m of 0.43% Cu (342m to 365.5m) on the newly emerging, lower footwall horizon (the "Kraken Horizon") in PL-112 and intersecting mineralization outside the existing resource (See News Release Dated March 2, 2026) (See Pt. Leamington Deposit Plan View with 2026 Drilling).
The Company drilled an additional seven holes to test continuity of the Deposit and the newly discovered Kraken zone identified early in the Phase 1 program. A number of drill holes returned wide intersections of base and precious metals mineralization outside the existing Pt. Leamington deposit resource estimate and separately in the emerging Kraken including:
- PL-114 - 10.0m of 0.58 g/t Au, 8.66 g/t Ag, 0.85% Cu, 0.94% Zn (8.0m to 18.0m)
- PL-114 - 10.5m of 0.16 g/t Au, 5.27 g/t Ag (161.5m to 172.0m)
- PL-114 - 1.50m of 0.47 g/t Au, 0.46% Zn (236.9m to 238.4m)
- PL-114 - 5.9m of 0.47% Zn (281.7m to 287.6m)
- PL-115 - 1.1m of 1.43 g/t Au, 5.20 g/t Ag, 0.77% Cu, 0.51% Zn (15.4m to 16.5m)
- PL-115 - 52.7m of 0.30% Cu (97.0m to 149.7m)
- PL-115 - 2.6m of 1.07% Cu (173.8m to 176.4m)
- PL-116 - 29.9m of 0.27% Cu (459.6m to 489.5m), including 14.5m of 0.39% Cu (459.6m to 474.1m), and including 3.5m of 0.19 g/t Au, 2.53 g/t Ag and 0.40% Cu (486.0m to 489.5m)
- PL-117 - 7.5m of 0.35% Cu, 0.17% Zn (75.5m to 83.0m) including 1.5m of 1.74% Cu, 0.52% Zn (77.0m to 78.5m)
- PL-117 - 10.5m of 0.37% Zn (153.5m to 164.0m)
- PL-117 - 6.0m of 0.52% Zn (184.0m to 190.0m)
- PL-117 - 1.5m of 0.71 g/t Au (217.0m to 218.5m)
- PL-118 - 9.7m of 0.62 g/t Au, 21.28 g/t Ag, 0.47% Cu, 2.51% Zn (28.0m to 37.7m)
- PL-118 - 10.5m of 0.30 g/t Au, 9.19 g/t Ag, 0.45% Cu, 2.52% Zn (51.5m to 62.0m)
- PL-118 - 22.5m of 0.14 g/t Au, 0.53% Cu (234.0m to 256.5m)
- PL-118 - 41.5m of 0.39% Cu (305.5m to 347.0m) including 7.5m of 0.89% Cu (339.5m to 347.0m)
- PL-119 - 92.0m of 0.21 g/t Au, 0.21% Cu, 0.28% Zn (106.5m to 198.5m) including 26.9m 0.54 g/t Au, 5.72 g/t Ag, 0.49% Cu, 0.86% Zn (106.5m to 133.4m)
- PL-120 - 5.1m of 0.38 g/t Au, 9.35 g/t Ag, 0.11% Cu, 084% Zn (88.4m to 93.5m)
- PL-120 - 3.7m of 1.28% Zn (208.5m to 212.2m)
- PL-120 - 10.4m of 1.15% Zn (221.6m to 232.0m)
- PL-120 - 24.4m of 0.36% Zn (247.5m to 271.9m)
Drilling tested both the Pt. Leamington Horizon, which hosts the currently defined Point Leamington mineral resource, and the interpreted Kraken Horizon and intersected base and precious metals mineralization over strike extent of over 800m (PL-111 to PL-120). Step-out drilling to follow up from Kraken discovery hole PL-112 included five drill holes covering 275m of strike. Three holes were completed to the north covering 175m of strike (PL-114, PL-115, PL-120) and two holes over 100m strike to the south (PL-118, PL-119) (See Pt. Leamington Deposit 3D View with 2026 Drilling).
Most significantly, PL-118 intersected the Kraken and returned 22.5m of 0.14 g/t Au, 0.53% Cu (234.0m to 256.5m) and 41.5m of 0.39% Cu (305.5m to 347.0m) including 7m of 0.89% Cu (339.5m to 347.0m) in a 55m step out to the south from PL-112. Additionally, PL-115 intersected the Kraken in a 65m step-out to the north from PL-112 and returned 52.7m of 0.30% Cu (97.0m to 149.7m) and 2.6m of 1.07% Cu.
Drill hole PL-116 intersected the Kraken in a 131m step out below PL-112 and returned 1.5m of 0.86% Zn (363.5m to 365.0m), 0.8m of 0.25 g/t Au, 4.20 g/t Ag, 0.77% Cu (417.6m to 418.4m), 29.9m of 0.27% Cu (459.6m to 489.5m) including 14.5m of 0.39% Cu (459.6m to 474.1m) and 3.5m of 0.40% Cu (486.0m to 489.5m).
PL-117 was a 160m step out above PL-112 and intersected the Kraken returning 7.5m of 0.35% Cu and 0.17% Zn including 1.5m of 1.74% Cu, 0.52% Zn (75.5m to 83.0m), 10.5m of 0.37% Zn (153.5m to 164.0m), 6.0m of 0.52% Zn (184.0m to 190.0m) and 1.5m of 0.71 g/t Au (217.0m to 218.5m).
All holes that were drilled during the Phase 1 program targeting the Kraken Horizon intersected mineralization associated with Kraken and the discovery remains open in all directions. Results from Phase 1 positions Visionary to expand and upgrade the current mineral resource at the Deposit and define the emerging Kraken copper zone in the next phase of drilling.
The results from the Phase 1 program, the first exploration drilling at the Project in over two decades, builds upon the Pt. Leamington deposit, which includes:
- A, pit constrained, Indicated Mineral Resource of 5.0 Mt grading 2.5 g/t AuEq with 402 koz AuEq (comprising 145.7 koz gold, 2.0 Moz silver, 60.0 Mlb copper, 153.5 Mlb zinc and 1.5 Mlb lead);
- A pit constrained Inferred Mineral Resource of 13.7 Mt grading 2.24 g/t AuEq with 986.5 koz AuEq (comprising 354.8 koz gold, 6.2 Moz silver, 110.2 Mlb copper, 527.3 Mlb zinc, 7.0 Mlb lead); and
- An out-of-pit Inferred Mineral Resource of 1.7 Mt grading 3.06 g/t AuEq with 168.5 koz AuEq (comprising 65.4 koz gold, 1.4 Moz Ag, 13.3 Mlb copper, 102.9 Mlb zinc, 2.6 Mlb lead).
(see news release dated October 25, 2021)
Table 1: 2026 Phase 1 Drill Results
| Hole ID | From (m) | To (m) | Length (m) | Au g/t | Ag g/t | Cu % | Zn % | CuEq (%) | Location/ Comments |
| PL-111 | 120.3 | 123.1 | 2.8 | 1.20 | 9.96 | 0.62 | 1.87 | 1.83 | Pt. Leamington - Outside Existing |
| PL-111 | 138.6 | 147.8 | 9.2 | 1.16 | 3.92 | 0.01 | 0.53 | 1.03 | Pt. Leamington - Outside Existing |
| PL-111 | 151.2 | 155.5 | 4.3 | 0.10 | 0.77 | 0.01 | 0.52 | 0.19 | Pt. Leamington - Outside Existing |
| PL-111 | 299.5 | 301.4 | 1.9 | 0.04 | 2.00 | 0.02 | 0.39 | 0.13 | Kraken Zone |
| PL-111 | 330.0 | 335.0 | 5.0 | 0.12 | 1.25 | 0.00 | 0.51 | 0.20 | Kraken Zone |
| PL-112 | 27.3 | 48.2 | 20.9 | 0.35 | 18.25 | 0.30 | 1.96 | 0.96 | Pt. Leamington - Infill |
| PL-112 | 60.1 | 112.0 | 51.9 | 0.46 | 9.40 | 0.37 | 1.32 | 0.95 | Pt. Leamington - Infill |
| including | 60.1 | 68.5 | 8.4 | 0.48 | 11.77 | 0.70 | 2.06 | 1.39 | |
| including | 72.1 | 90.4 | 18.3 | 0.54 | 9.76 | 0.61 | 0.86 | 1.11 | |
| including | 92.3 | 112.0 | 19.7 | 0.49 | 10.65 | 0.11 | 1.80 | 0.87 | |
| PL-112 | 248.2 | 324.0 | 75.8 | 0.03 | 1.69 | 0.45 | 0.02 | 0.40 | Kraken Zone |
| including | 307.5 | 319.5 | 12.0 | 0.13 | 4.95 | 1.09 | 0.02 | 0.99 | |
| PL-112 | 342.0 | 365.5 | 23.5 | 0.01 | 1.32 | 0.43 | 0.01 | 0.35 | Kraken Zone |
| PL-114 | 8.0 | 18.0 | 10.0 | 0.58 | 8.66 | 0.85 | 0.94 | 1.35 | Pt. Leamington - Partially Outside Resource |
| PL-114 | 161.5 | 172.0 | 10.5 | 0.16 | 5.27 | 0.01 | 0.08 | 0.16 | Kraken Zone |
| PL-114 | 236.9 | 238.4 | 1.5 | 0.47 | 0.50 | 0.03 | 0.46 | 0.49 | Kraken Zone |
| PL-114 | 281.7 | 287.6 | 5.9 | 0.04 | 0.15 | 0.01 | 0.46 | 0.13 | Kraken Zone |
| PL-115 | 15.4 | 16.5 | 1.1 | 1.43 | 5.20 | 0.77 | 0.51 | 1.85 | Pt. Leamington - Outside Existing Resource |
| PL-115 | 27.4 | 49.4 | 22.0 | 0.24 | 6.42 | 0.00 | 0.02 | 0.22 | Pt. Leamington - Infill |
| PL-115 | 97.0 | 149.7 | 52.7 | 0.01 | 0.52 | 0.30 | 0.02 | 0.26 | Kraken Zone - Within and Outside Existing Resource |
| including | 97.0 | 133.2 | 36.2 | 0.01 | 0.73 | 0.36 | 0.02 | 0.30 | Kraken Zone - Within and Outside Existing Resource |
| including | 101.7 | 113.7 | 12.0 | 0.04 | 1.88 | 0.61 | 0.04 | 0.53 | |
| PL-115 | 173.8 | 176.4 | 2.6 | 0.02 | 1.54 | 1.07 | 0.01 | 0.87 | Kraken Zone |
| PL-115 | 302.0 | 320.0 | 18.0 | 0.04 | 0.46 | 0.01 | 0.26 | 0.09 | Kraken Zone |
| PL-116 | 189.2 | 201.0 | 11.8 | 0.56 | 18.51 | 0.29 | 1.41 | 1.00 | Pt. Leamington - Infill |
| PL-116 | 207.1 | 228.0 | 20.9 | 0.58 | 11.53 | 0.18 | 1.58 | 0.95 | Pt. Leamington - Infill |
| including | 213.0 | 216.5 | 3.5 | 0.72 | 13.98 | 0.06 | 2.39 | 1.14 | |
| PL-116 | 253.5 | 277.5 | 24.0 | 0.07 | 1.18 | 0.10 | 0.26 | 0.19 | Pt. Leamington - Infill |
| including | 268.5 | 273.0 | 4.5 | 0.05 | 1.80 | 0.09 | 0.45 | 0.21 | |
| PL-116 | 299.5 | 300.0 | 0.5 | 0.29 | 7.80 | 1.69 | 0.04 | 1.61 | Pt. Leamington - Infill |
| PL-116 | 363.5 | 365.0 | 1.5 | 0.01 | 0.30 | 0.04 | 0.86 | 0.22 | Kraken Zone |
| PL-116 | 417.6 | 418.4 | 0.8 | 0.25 | 4.20 | 0.77 | 0.01 | 0.82 | Kraken Zone |
| PL-116 | 459.6 | 489.5 | 29.9 | 0.06 | 1.15 | 0.27 | 0.02 | 0.27 | Kraken Zone |
| including | 459.6 | 474.1 | 14.5 | 0.04 | 1.54 | 0.39 | 0.03 | 0.36 | |
| including | 486.0 | 489.5 | 3.5 | 0.19 | 2.53 | 0.40 | 0.02 | 0.48 | |
| PL-117 | 7.5 | 24.6 | 17.1 | 0.04 | 2.99 | 0.60 | 0.15 | 0.55 | Pt. Leamington - Infill |
| including | 16.3 | 24.6 | 8.3 | 0.04 | 4.41 | 0.82 | 0.13 | 0.73 | |
| PL-117 | 75.5 | 83.0 | 7.5 | 0.08 | 2.30 | 0.35 | 0.17 | 0.38 | Kraken Zone |
| including | 77.0 | 78.5 | 1.5 | 0.08 | 3.00 | 1.74 | 0.52 | 1.57 | |
| PL-117 | 153.5 | 164.0 | 10.5 | 0.06 | 1.44 | 0.01 | 0.37 | 0.13 | Kraken Zone |
| PL-117 | 184.0 | 190.0 | 6.0 | 0.09 | 0.95 | 0.00 | 0.52 | 0.18 | Kraken Zone |
| PL-117 | 217.0 | 218.5 | 1.5 | 0.71 | 0.00 | 0.00 | 0.01 | 0.56 | Kraken Zone |
| PL-118 | 28.0 | 37.7 | 9.7 | 0.62 | 21.28 | 0.47 | 2.51 | 1.43 | Pt. Leamington - Outside Existing |
| PL-118 | 51.5 | 62.0 | 10.5 | 0.30 | 9.19 | 0.45 | 2.52 | 1.12 | Pt. Leamington - Outside Existing |
| PL-118 | 75.2 | 88.3 | 13.1 | 0.58 | 17.23 | 0.33 | 3.12 | 1.40 | Pt. Leamington - Infill |
| PL-118 | 105.4 | 135.0 | 29.6 | 1.24 | 9.88 | 0.80 | 1.59 | 1.95 | Pt. Leamington - Infill |
| PL-118 | 234.0 | 256.5 | 22.5 | 0.14 | 2.37 | 0.53 | 0.03 | 0.54 | Kraken Zone |
| PL-118 | 305.5 | 347.0 | 41.5 | 0.04 | 1.85 | 0.39 | 0.03 | 0.36 | Kraken Zone |
| including | 339.5 | 347.0 | 7.5 | 0.04 | 4.98 | 0.89 | 0.11 | 0.78 | |
| PL-119 | 83.8 | 94.8 | 11.0 | 0.62 | 13.13 | 0.34 | 1.67 | 1.13 | Pt. Leamington - Infill |
| PL-119 | 106.5 | 198.5 | 92.0 | 0.21 | 2.36 | 0.21 | 0.28 | 0.39 | Pt. Leamington - Outside Existing |
| including | 106.5 | 133.4 | 26.9 | 0.54 | 5.72 | 0.49 | 0.86 | 1.00 | |
| PL-119 | 275.0 | 315.0 | 40.0 | 0.03 | 0.51 | 0.01 | 0.23 | 0.07 | Kraken Zone |
| PL-120 | 51.7 | 74.4 | 22.7 | 0.55 | 11.19 | 0.35 | 1.41 | 1.03 | Pt. Leamington - Infill |
| PL-120 | 88.4 | 93.5 | 5.1 | 0.38 | 9.35 | 0.11 | 0.84 | 0.58 | Pt. Leamington - Outside Existing Resource |
| PL-120 | 129.5 | 144.5 | 15.0 | 0.04 | 0.60 | 0.02 | 0.42 | 0.13 | Pt. Leamington - Infill |
| PL-120 | 208.5 | 212.2 | 3.7 | 0.08 | 0.25 | 0.01 | 1.28 | 0.33 | Kraken Zone |
| PL-120 | 221.6 | 232.0 | 10.4 | 0.06 | 1.32 | 0.01 | 1.16 | 0.30 | Kraken Zone |
| PL-120 | 247.5 | 271.9 | 24.4 | 0.02 | 0.09 | 0.02 | 0.36 | 0.10 | Kraken Zone |
Notes:
- True width estimates are unknown and will be determined with more drilling.
- PL-111 collar (previously reported) is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 21N: 599763m East and 5458396m North and 192m above sea level, and started at 065Az, -60 degree dip.(EOH 363m)
- PL-112 collar (previously reported) is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 21N: 599359m East and 5458923m North and 151m above sea level, and started at 065Az, -47 degree dip.(EOH 444m)
- PL-113 collar is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 21N: 599520m East and 5458612m North and 177m above sea level, and started at 065Az, -47 degree dip.(EOH 263m)
- PL-113 was a near surface hole drill to test the Pt. Leamington deposit outside the existing resource and did not return any material mineralization. PL-113 was not drilled deep enough to test the Kraken Horizon.
- PL-114 collar is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 21N: 599397m East and 5459038m North and 170m above sea level, and started at 065Az, -47 degree dip.(EOH 304m)
- PL-115 collar is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 21N: 599394m East and 5458977m North and 170m above sea level, and started at 065Az, -47 degree dip.(EOH 332m)
- PL-116 collar is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 21N: 599255m East and 5458844m North and 168m above sea level, and started at 065Az, -47 degree dip.(EOH 505m)
- PL-117 collar is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 21N: 599512m East and 5458967m North and 169m above sea level, and started at 065Az, -47 degree dip.(EOH 255m)
- PL-118 collar is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 21N: 599386m East and 5458876m North and 172m above sea level, and started at 065Az, -47 degree dip.(EOH 364m)
- PL-119 collar is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 21N: 599410m East and 5458834m North and 172m above sea level, and started at 065Az, -47 degree dip.(EOH 395m)
- PL-120 collar is located at the following Universal Transverse Mercator (UTM) coordinates using the North American Datum of 1983 (NAD83) within UTM Zone 21N: 599323m East and 5459093m North and 161m above sea level, and started at 065Az, -47 degree dip.(EOH 333m)
- The size of the drill core is NQ.
- All CuEq (copper equivalent) assay results in this news release use the following pricing: US$4.84 copper per pound ($10,670.26/tonne), US$1.15 zinc per pound, US$3,446/troy ounce gold ($110.79/gram), US$40.21/troy ounce silver ($1.29/gram), calculation CuEQ= Cu%+(Zn% x zinc price per pound / copper price per pound)+(Au g/t x Au price per gram / copper price per tonne) x100 + (Ag g/t x Ag price per gram / copper price per tonne) x 100. CuEq reported assumes recoveries of 75% Au, 25% Ag, 80% Cu and 85% Zn, which is based on the recoveries used for the Company's mineral resource estimate at the Pt. Leamington Project (see technical report dated December 5, 2023 and filed on SEDAR+) .
QA / QC Protocols
Core and rock samples, including standards, blanks and duplicates, are submitted to Eastern Analytical Ltd., Springdale, Newfoundland for preparation and analysis. All samples were acquired by saw-cut (drill core) with one-half submitted for assay and one-half retained for reference by Visionary personnel. Samples were submitted in sealed bags to the Springdale lab of Eastern Analytical, which is an accredited assay lab that conforms to the requirements of ISO/IEC 17025. Samples were analyzed by the Eastern's Au+ICP-34, which involved a 30g fire assay coupled with an AAS finish for Au, whereas the ICP-34 involved a four acid digestion of a 200mg subsample with an ICP-OES finish. Overlimits are analysed with Eastern's atomic absorption method, using a 0.200g to 2.00g sample, digested with three acids. All reported assays are uncut. Eastern Analytical Ltd. achieved ISO 17025 accreditation in February 2014 (for more details on the scope of accreditation visit the CALA website).
Pt. Leamington Project
The Pt. Leamington Project is located approximately 37km by road and trails from the City of Grand Falls-Windsor and approximately 20km from the provincial power grid. Pt. Leamington is a felsic-hosted, VMS deposit that dips 70 degrees to the west, has a strike length of 560m plus and a maximum thickness of 85m. Massive sulphides have been intersected to a depth of 360m below surface from approximately 21,714m of drilling in 72 holes. Regional government mapping and lithogeochemical sampling indicates that Pt. Leamington's host volcanic stratigraphy extends beyond the Deposit area.
The Deposit hosts a significant gold, copper, zinc, and silver resource, with a pit-constrained Indicated Mineral Resource of 5.0 Mt grading 2.5 g/t AuEq for 402 koz AuEq (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 2.24 g/t AuEq for 986.5 koz AuEq (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 3.06 g/t AuEq for 168.5 koz AuEq (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).
Qualified Person
The technical information contained in this news release has been reviewed and approved by Aaryn Hutchins, P. Geo, a qualified person under NI 43-101. Ms. Hutchins is a consultant for the Company and is independent of the Company. Historical information was verified from geological reports filed with the government by previous operators.
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 2.5 g/t AuEq for 402 koz AuEq (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 2.24 g/t AuEq for 986.5 koz AuEq (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 3.06 g/t AuEq for 168.5 koz AuEq (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: info@visionarycoppergold.com
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 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.