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
The land consolidation secures Pt. Leamington’s down-plunge extent and adds five EM-based targets to feed a 20,000-metre drill program.
Rhea-AI Summary
Visionary Copper and Gold Mines (VCGMF) has acquired and staked approximately 3,575 hectares around its 100%-owned Pt. Leamington VMS deposit in Newfoundland, expanding its land position there to about 33,000 hectares.
The new ground covers the interpreted down-plunge projection of the deposit and a 3 km segment south along the Pt. Leamington Trend, where a prior airborne EM survey identified five isolated conductors on the same stratigraphic horizon as the deposit, two with historically reported massive sulphide boulders nearby. These targets will complement a planned 20,000-metre Phase 2 drilling program.
Under a purchase agreement for three mineral licences, Visionary will pay C$10,000, issue C$40,000 of common shares (subject to TSXV acceptance) and grant the vendor a 1% net smelter return royalty, buyable for C$1,000,000. Pt. Leamington hosts a pit-constrained Indicated resource of 5.0 Mt at 1.42% CuEq and total Inferred resources of 15.4 Mt at 1.32% CuEq.
Positive
- Land package +3,575 ha to approximately 33,000 ha at Pt. Leamington
- Five EM conductors on host horizon, two with massive sulphide boulders nearby
- 20,000-metre Phase 2 drilling program planned at Pt. Leamington deposit
- Pt. Leamington pit-constrained Indicated resource 5.0 Mt at 1.42% CuEq (156.8 Mlb CuEq)
- Total Pt. Leamington Inferred resources 15.4 Mt at 1.32% CuEq (450.5 Mlb CuEq)
- Acquisition cash cost limited to C$10,000 plus C$40,000 in common shares
Negative
- Vendor granted 1% NSR royalty on acquired licences, buyback cost C$1,000,000
- Issue of C$40,000 in common shares introduces additional, though small, shareholder dilution
- Purchase agreement and share issuance remain subject to TSXV acceptance
AI-generated analysis. How Rhea-AI works. Not financial advice.
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
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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
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
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
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
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, 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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FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What exactly did Visionary acquire or stake in this transaction?
Visionary acquired and staked approximately 3,575 hectares across six mineral licences comprising 143 Mineral Claims. Three mineral licences are being purchased from Stephen Stockley Agriculture and Fabrication, and additional ground has been staked, consolidating the interpreted down-plunge projection of Pt. Leamington and the southern portion of the Pt. Leamington Trend.
What are the key terms of Visionary’s agreement with the vendor?
For the three mineral licences, Visionary will pay the vendor C$10,000 in cash and issue C$40,000 of Visionary common shares at a price equal to the greater of the 60-day volume weighted average price and the TSX Venture Exchange Discounted Market Price. The vendor will also receive a 1% net smelter return royalty, which Visionary may repurchase with a one-time payment of C$1,000,000. The consideration shares will be subject to a four-month resale restriction, and the agreement is subject to TSX Venture Exchange acceptance.
How do the new EM conductors relate to the Pt. Leamington discovery model?
The southern EM conductors lie on the same volcanic stratigraphic horizon that hosts the Pt. Leamington deposit. Historical work reported massive sulphide boulders near two of the five conductors. Pt. Leamington itself was discovered after an airborne EM anomaly was followed up by finding massive sulphide boulders and drilling, so the company views this combination of EM conductors and nearby boulders as a proven exploration model for the new Southern Targets.
What mineral resource categories and grades are reported for Pt. Leamington?
The pit-constrained Indicated Mineral Resource is 5.013 Mt grading 0.90 g/t gold, 12.2 g/t silver, 0.54% copper, 1.39% zinc and 0.01% lead, equivalent to 1.42% CuEq for 156.8 Mlb CuEq. Total Inferred Mineral Resources are 15.440 Mt grading 0.85 g/t gold, 15.3 g/t silver, 0.36% copper, 1.85% zinc and 0.03% lead, equivalent to 1.32% CuEq for 450.5 Mlb CuEq. These Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.
Who is the qualified person for the technical information, and what is their role?
The technical information in the news release was reviewed and approved by Jason Flight, P.Geo., who is a “qualified person” under NI 43-101 and serves as Vice President of Exploration for Visionary. Because of this role, he is not independent under NI 43-101.
What other advanced-stage projects does Visionary highlight in its portfolio?
Visionary highlights the Rainbow deposit at its Pine Bay Project in the Flin Flon Mining District, where it reports an Indicated Mineral Resource of 3.44 Mt grading 3.59% CuEq for 272.4 Mlb CuEq and an Inferred Mineral Resource of 1.28 Mt grading 2.95% CuEq for 83.4 Mlb CuEq, plus an additional 1.0 Mt Inferred at the Pine Bay deposit grading 2.62% Cu. The portfolio also includes the Nash Creek Project in New Brunswick, where a 2018 PEA reported a pre-tax IRR of 34.1% (25.2% post-tax) and pre-tax NPV8% of $230 million ($128 million post-tax) at $1.25 zinc.