Viridis Mining and Minerals Ltd (ASX:VMM) Maiden Drilling Program Commences at Colossus Ionic Clay Project

About this update from Viridis Mining And Minerals Limited

Perth, Australia, Sep 14, 2023 - (ABN Newswire) - Viridis Mining and Minerals Ltd (ASX:VMM) is pleased to report that it has commenced its maiden exploration program on the Colossus project with HIDROEX as the contractor. Highlights - HIDROEX has commenced maiden drilling program at the Colossus Rare Earth Project. - Three auger rigs have arrived on site with the campaign simultaneously targeting all four priority prospects of the Phase I drilling campaign, which adjoin the Caldeira Resource (409Mt @2,626ppm TREO) - The maiden exploration program will allow Viridis to gain a better understanding of the extent of mineralisation within the Colossus Project - Historic auger drilling has been limited to 3 metres deep onto the saprolite/clay profile's leached layer, generally presenting the lowest grades of REE mineralisation - Phase II will consist of auger drill holes to target new areas of the Alkaline Complex, focusing on the western and southeast licenses. Executive Chairman Agha Shahzad Pervez commented: "I am very pleased with the diligent work carried out by the Viridis team, resulting in the mobilisation of rigs and commencement of drilling within 6 weeks of signing a potential Tier-One Rare Earth Acquisition. This program is critical to understanding the extent of mineralisation of the Colossus Project, as we can now drill up to a depth of 20 metres into the 'REE Accumulation Zone' to see the real potential grades and optimised recoveries of Ionic Rare Earth Mineralisation. The recent success in our due diligence sampling and review of exceptional historic drill holes has provided Viridis with numerous high-priority targets. We will now execute our multi-phased drill plan with a goal to establish Colossus as a globally significant deposit." Viridis has commenced its Phase I maiden drilling program under the direct supervision and guidance of our experienced in-country Executives, Dr Klaus Petersen and Dr Jose Marques Braga Junior. The work of Dr Petersen over the last year in Rare Earths within the Pocos de Caldas Alkaline Complex, along with Dr Marques' experience with speciality metals and leading the CBMM exploration team, will play a critical role in executing a successful exploration program. The first holes will be drilled into Carijo Prospect, a large saprolite body that hosted surface grab sample PC-10 (2,753ppm TREO, 48% Nd Recovery, 45% Nd ...

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