Visionary Copper & Gold (TSXV:VCG) - New Drill Phase to Upgrade Massive Newfoundland Copper Asset

Max Porterfield (0:00)

Hi, I'm Max Porterfield, President and CEO of Visionary Copper & Gold.

We're advancing a portfolio of copper and gold rich VMS deposits in key Canadian mining jurisdictions across Canada. Our flagship being the Pt. Leamington deposit on the province of Newfoundland that we're focused on growing significantly, going to a phase two 20,000 meter drilling campaign this fall.

Crux Investor (0:22)

Max, good to see you. Good to see you.

Max Porterfield (0:24)

Great to be here.

Crux Investor (0:25)

Great to have you here, even better.

We're at Beaver Creek. This conference seems to be extremely well run. Lots of meetings lined up for everyone. How have you fares?

Max Porterfield (0:34)

It's been a great conference. Actually, I've been coming to this for a decade now. And this year has been the most productive in all years.

Not only the quality of investors has always been great, I think it's consistently improving. And then the breadth of interest is improving as we get more developed in our focus in Newfoundland.

Crux Investor (0:52)

Well, I say that it helps when you have a good story, right?

Max Porterfield (0:55)

Absolutely.

Crux Investor (0:55)

So, Pt. Leamington, let's kind of focus on that today if you don't mind, because there's a lot going on there. You just finished a drill program. What were the kind of learnings?

Max Porterfield (1:03)

So that was actually the first drilling campaign in over two decades at the property. So it was originally discovered in 1971 by Noranda.

They operated till 1997, divested it in BHP, had a short stint in it in 1999 to 2001, but no exploration since 2004 So phase one was focused on expanding the strike extent of Pt. Leamington. The current 20 million ton resource that exists is over a strike of 600 meters down to 400 meters open at depth. Phase one expanded the strike extent to over 1.1 kilometers, which we were quite excited about, excuse me.

And that was one of the key milestones of phase one. Second to that, if you look at these major VMS systems, they have a significant endowment, oftentimes, of copper in the feeder system to the massive sulfide lens. And the 20 million tons that exist today at Pt. Leamington is exclusively the massive sulfide lens. And so the second part of that is our discovery of Kraken Copper Zone, which is a parent discovery hole of 76 meters of 0.45 copper with another 23.5 meters of 0.4 copper. So that is, again, over 100 meters interval in Kraken. We subsequently stepped out over 300 meters, continued to hit wide intervals of mineralization. So leading into phase two, what we're looking to accomplish is expand and build the resource in the feeder system at Kraken, and then also simultaneously upgrade the current resource and the confidence in it from a majority inferred up into an indicated category, which is your natural progression on things.

Crux Investor (2:37)

Yep. And so you talk about phase two being, I think you've talked about a 20,000 meter program. It's quite a big program.

Max Porterfield (2:42)

That's correct.

Crux Investor (2:43)

So before we kind of get into that, just in terms of the type of drilling, I get the extension. You've gone a little bit deep. Was the first systematic drill program for such a long time?

Max Porterfield (2:56)

Yeah.

Crux Investor (2:57)

Was the mineralization at the end of the drill at 400 meters? I mean...

Max Porterfield (3:01)

So when you look at the existing resource, you have the discovery hole is 120 meters of massive sulfides. Yeah. Then after you come out of that, you go into the stringer zone, which is the feeder system, to the massive sulfide lens. And so that was what we are outlining. The first discovery is the Kraken zone, is what we are calling the feeder system. And oftentimes you can have a very significant endowment. And really, if you look at massive sulfide or VMS deposits, typically they are 3 to 5 million tons. Large ones, I would consider 20 to 30 million tons. And then you have the giants that are over 60 million tons.

If you look at the emergence of a lot of these major VMS systems more recently, a portion of what was overlooked was the feeder system.

You've had big discoveries that have grown into big discoveries like Micklevenny Bay, which was acquired by El Dorado for 3.6 billion over in Saskatchewan. And then you have nearby, about 80 kilometers from us, you have FireFly Metals' Ming deposit, which again started as a 3 to 4 million ton massive sulfide lens, has now grown to over 75 million tons. So at Pt. Leamington, we're starting as a 20 million ton massive sulfide lens.