Inc. has received formal approval from the Newfoundland and Labrador Department of Energy and Mines for its 2026 Phase 2 diamond drilling program at the 100%-owned Pt. Leamington volcanogenic massive sulphide deposit.

The upcoming campaign aims to build upon an existing mineral resource base consisting of 5.0 million tonnes of Indicated resources and 15.4 million tonnes of Inferred resources. The work programme will focus on upgrading Inferred resources to the Indicated category, expanding the massive sulphide system, and delineating the scale and grade of the Kraken Zone.

Discovered during the 2026 Phase 1 drilling program, the Kraken Zone represents a broad, near-surface copper stringer system interpreted as part of the deposit's VMS feeder system. Because this mineralization was not included in the 2021 Mineral Resource Estimate, it offers fresh upside for the project as the company advances toward economic studies, including a Preliminary Economic Assessment.

“We look forward to building on what is already a substantial resource at Pt. Leamington. The discovery of Kraken during Phase 1 drilling has added an entirely new dimension to the Project — a broad copper-rich stringer system, interpreted to represent part of the VMS feeder system, that sits outside the 2021 Mineral Resource Estimate.”

“Defining Kraken Zone and converting resources to the indicated category are now our principal priorities at the Deposit so that we have a clear path toward economic studies including a PEA. Kraken remains sufficiently open that substantially more drilling is warranted before we understand the full scale of the system.”

— Jason Flight, Vice President of Exploration

In addition to regulatory clearance, the project has been selected by the Newfoundland Department of Mines and Energy for the Junior Exploration Assistance program, qualifying Visionary for an estimated rebate of C$96,118 on eligible exploration expenditures.

Read the full announcement: Visionary Receives Phase 2 Drill Approval for Its Pt. Leamington Gold/Copper/Zinc/Silver VMS Deposit in Newfoundland