Viridian Metals expands land holdings in Labrador, Canada
This acquisition makes Viridian the largest claim holder in Newfoundland and Labrador, enhancing its capacity to conduct large-scale exploration initiatives in one of the most promising regions in the country.
The newly acquired area contains more than 70 documented copper occurrences, most of which remain unexplored.
The staking has expanded Viridian's previous claim within the Seal Basin from approximately 10km² to the current 2,600km².
Viridian Metals CEO Tyrell Sutherland said: 'This large project area is a testament to the exceptional geological potential we see in Labrador.
'The area we have secured offers a wealth of exploration opportunities. We are excited to accelerate our work in such a highly prospective region and believe it has the capacity to deliver significant value as we seek to discover the extent [of] its mineral wealth.'
Viridian aims to define high-priority zones through preliminary data analysis. The region's geological formations are believed to be conducive to copper concentration, aligning with Viridian's primary focus on copper.
The copper occurrences in the Seal Basin are documented in the Geological Survey of Newfoundland and Labrador's Mineral Occurrence Data System. These records were created during mapping programmes in the 1960s, 1970s and 2010s.
The underexplored nature of the Seal Basin, combined with modern exploration techniques, offers an opportunity to discover copper deposits in a Tier-One jurisdiction.
The region's proximity to key roads and power infrastructure, coupled with the growing demand for critical minerals, presents a significant opportunity to secure potentially high-grade copper.
Viridian Metals also recently announced the receipt of analytical results from six drill-holes at the Kraken Ni-Cu-Co (nickel-copper-cobalt) Project 2024.
Holes three and five successfully hit the Main Zone mineralisation, with results including 21.1m at 0.57% combined Ni+Cu+Co and 2.15m at 2.17% Ni+Cu+Co.
The company is awaiting analytical results from the remaining 17 holes of the diamond drilling campaign.
The results from these drill-holes are expected to further define the mineralisation within the Kraken Ni-Cu-Co Project.
"Viridian Metals expands land holdings in Labrador, Canada" was originally created and published by Mining Technology, a GlobalData owned brand.
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