Viridian Metals has established an initial conceptual Exploration Target of 41 to 61 million tonnes grading 0.35% to 0.52% copper equivalent at the Kraken Main zone, situated within its 100%-owned Kraken copper-nickel-cobalt project in Labrador.

The estimate was prepared by APEX Geoscience Ltd. using historical drilling and geophysical data collected prior to the 2026 field season. The calculation incorporates an average bulk density of 3.0 t/m³ and is based on a modelled average mineralized thickness of 8.6 metres across a footprint of approximately two square kilometres.

The company emphasized that the conceptual figures exclude all drilling completed during the ongoing 2026 campaign. That active program continues to test the broader system, which encompasses more than 60 identified conductors.

Alongside the target estimate, Viridian released final overlimit assay results for three samples from hole VKS26-054, covering an aggregate core length of approximately 2.5 metres within a 6.2-metre interval from 20.7 metres depth that returned 0.38% copper, 0.62% nickel, 0.08% cobalt, and 1.57% copper equivalent.

Viridian plans to initiate metallurgical test work in late Q4 2026 to establish project-specific metal recoveries for copper, nickel, and cobalt. The current exploration target relies on an assumed 80% recovery rate across all three metals. Additional assay results from the ongoing field work remain pending and will be published upon receipt and review.

“The important thing about this initial target is what is not in it,” said Tyrell Sutherland, President and CEO of Viridian Metals. “It is based on an average mineralized thickness of just 8.6 metres, includes none of our 2026 drilling and covers only Kraken Main within a broader system containing over 60 conductors. With relatively sparse drilling informing the target, there remains a great deal to learn about the thickness and continuity of this zone. We have already reported mineralized intervals exceeding 50 metres from this year’s program and continue to infill it to better define its scale. This gives us a solid starting point for understanding the potential of the broader Kraken system.”

— Tyrell Sutherland, President and CEO of Viridian Metals

Read the full announcement: Viridian Announces Initial Exploration Target at Kraken Main Zone