Latest news with #TyrellSutherland
Cision Canada
31-07-2025
- Business
- Cision Canada
Viridian Metals Outlines Basin-Scale Copper Targets and Structural Controls at Sedna and Results of AGSM
VANCOUVER, BC, July 31, 2025 /CNW/ - Viridian Metals Inc. (CSE: VRDN) ("Viridian" or the "Company") has completed its field program at the 2,600 km² Sedna Copper Project in the Seal Lake Basin, Labrador. The work advanced the Company's basin-scale targeting model by identifying key geological components required to host large sedimentary copper systems specifically, multi-kilometre scale reductant horizons and structural corridors over 100 km in length that would deliver copper-rich fluids to these chemical traps. "This program represents a major technical step forward for our understanding of the basin," said, Tyrell Sutherland, President & CEO of Viridian Metals. "Our approach is grounded in first principles—define the system, trace the plumbing, and follow the reductants to where they intersect major structures. We're now positioned to target copper where the right rocks and the right plumbing converge." Highlights from the program include: Multiple black shale horizons identified in outcrop and interpreted as reductants capable of trapping copper-rich fluids; several were traced for over 5 km, with evidence suggesting they may extend 20–30 km in strike These black shales occur lower in the stratigraphy than any previously recognized reductants in the basin, a position commonly associated with higher prospectivity in sedimentary copper systems One major structural corridor traced over 110–130 km of strike, with several additional structures extending tens of kilometres—potential conduits for copper-rich fluids Carbonate sedimentary units identified, providing a secondary chemical gradient that could enhance copper mobility and concentration Widespread alteration and fluid indicators support the presence of copper-leaching brines across key stratigraphic intervals Field mapping and evaluation of till material also suggest the potential presence of a second depocenter within the basin, inferred from the highly variable geology observed in parts of the project area. While this does not directly indicate increased prospectivity, greater geological variability can enhance the potential for copper accumulation by creating new trap sites and fluid pathways. The programs were conducted over a five-week period across seven remote field camps and were led by the Compass Exploration Group Ltd, in collaboration with Dr. Simon Jones of the Irish Centre for Research in Applied Geosciences ("iCRAG"). Next Steps Viridian is currently conducting detailed lab analysis of samples collected during the program, including geochemical and mineralogical work to better characterize fluid pathways and reductant horizons. Geophysical surveys are planned for Q3 2025 to improve resolution of subsurface structures and stratigraphy across key areas of interest. The Company will prioritize zones where mapped reductants and structural corridors overlap, and where geochemical and geophysical signals indicate copper mobility. This integrated approach will guide the refinement of basin-scale targets and support ongoing exploration planning. This work is supported by $225,000 in funding from Newfoundland and Labrador's 2025 Junior Exploration Assistance (JEA) program and $500,000 in funding from BHP through Viridian's participation in the 2025 Xplor cohort. Focus Shifts to Kraken Polymetallic Project Viridian's operational focus is now shifting to drilling at its Kraken Polymetallic Project, where the Company plans to follow up on copper intercepts of up to 4.1% Cu encountered in last year's drilling. The upcoming program will aim to assess the scale and continuity of high-grade zones within a broader copper-nickel mineralized corridor. Annual General and Special Meeting Viridian would also like to announce that all proposed resolutions were approved at the Company's Annual General and Special Meeting of shareholders held on July 30, 2025. A total of 29,768,015 shares were voted, representing 56.22% of total shares issued and outstanding as of the record date. All the resolutions proposed by the Board of Directors and management of the Company were passed as follows: The number of directors of the Company was set at five (5) and shareholders approved the re-election of Lee Bowles, Sebastien Charles, Stacie Clark (known as Stacie Jones) Alan Grujic, and Tyrell Sutherland as directors of the Company. McGovern Hurley LLP were re-appointed as auditors of the Company for the ensuing year and the directors have been authorized to fix their remuneration. The Company's proposed amendment of its existing Surplus Security Escrow Agreement (as described in the Company's press release dated July 9, 2025) was approved unanimously by disinterested shareholders. The Company now intends, effective July 31, 2025, to implement the amendment and restatement of its existing Surplus Security Escrow Agreement with a new escrow agreement as has been approved by the shareholders. A detailed description of the amendment and the material effect thereof are included in the Company's press release dated July 9, 2025. The Company would like to thank its shareholders for their continued support. Qualified Person Tyrell Sutherland, President and CEO of Viridian Metals, who is a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure contained in this news release. About Viridian Metals Viridian Metals is a leader in generative metal exploration with a focus on environmental responsibility and ethical practices. Founded to discover new critical metals deposits capable of transforming supply chains, we leverage innovative technologies and methods to enhance efficiency and sustainability in jurisdictions leading the energy transition. Viridian maintains expertise in a range of critical metals with a primary focus on copper, nickel and cobalt. Viridian's commitment to environmental responsibility and ethical practices ensure that its projects contribute meaningfully to the green transition, creating sustainable value for all stakeholders. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward Looking Information This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes, but is not limited to, information regarding the plans and expectations of the Company and expectations in respect of other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Company's current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to the factors set forth in the Company's Filing Statement dated October 28, 2024 under the caption "Risk Factors". Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
The Market Online
25-06-2025
- Business
- The Market Online
This junior copper stock could be a Canadian leader in the making
The world will need about 3.7 million tons of copper beyond existing supply to meet 2030 demand, driven by the critical metal's malleability, conductivity, corrosion resistance and antimicrobial properties. This is equivalent to over 60 new mines, each of which could take a decade or more to reach production. This dynamic grows more severe over the longer term, with industry requiring more copper over the next 30 years than has been mined in the history of humanity to meet net-zero emissions goals, setting the stage for a massive copper deficit over the next decade. Investors looking to capitalize on this deficit must first understand copper demand's main drivers, each lying at the heart of the green energy transition. Here's a breakdown, according to Visual Capitalist, of the critical metal's global tailwind: Electric vehicles require 132 pounds of copper per vehicle, with the sector's demand for the critical metal expected to post a 14-per-cent compound annual growth rate (CAGR) through 2035. The battery sector requires up to 540 pounds of copper per megawatt (MW), with copper demand positioned for a 21.8-per-cent CAGR through 2035. Solar panels require 5.5 tons of copper per MW and are forecasted to achieve an 11.9-per-cent copper demand CAGR through 2035. Wind turbines require about 8 tons of copper per MW and are on track for a monumental 33.1-per-cent copper demand CAGR through 2035. This is in addition to copper's traditional uses in architecture, electrical wire, as well as numerous specialized applications, together representing tens of billions in market value. These high-growth industries are running counter to the trend in copper development capital, which has almost halved since 2013, prompting a growing number of institutions to call for higher prices up to US$40,000 per ton – almost four times the price of US$10,034.20 as of June 24 – and a growing number of investors to expand their due diligence into copper projects with strong cases for trading at a discount to their potential. A junior miner with a data-driven case to generate leverage above and beyond copper's tailwind is Viridian Metals (CSE:VRDN), market capitalization C$21.83 million, the largest claim holder in Newfoundland and Labrador. Map of Viridian Metals' Sedna and Kraken projects and surrounding major developments. (Source: Viridian Metals) Viridian is focused on developing two 100-per-cent-owned critical metals projects with potentially significant roles in the global supply chain, as reinforced by: An underexplored tier-one mining jurisdiction, populated by industry heavyweights such as Vale, Tata Steel and Rio Tinto, marked by the strongest level of community support chief executive officer Tyrell Sutherland, a 40-per-cent shareholder, has seen in his over 15-year career. We'll meet him in the management section later on. A fully funded 2025 exploration program following a recently closed over C$2 million financing, as well as inclusion in BHP's prestigious 2025 Xplor program, the latter affording Viridian a non-dilutive grant of C$1.1 million and access to the major miner's unmatched industry expertise to stake and study the Seal Basin, including its Sedna project, which we'll cover in the next section. Alignment with Canada's critical minerals strategy, which will see the Federal government invest nearly C$4 billion in domestic exploration, development and production, as well as numerous other government programs representing millions in potential funding. Investors have been recognizing the portfolio's high conviction since Viridian went public in November 2024, lifting the junior copper stock by 69.88 per cent from C$0.259 at inception to C$0.44 as of June 24, with the company's highly prospective land package still in the earliest stage of proving out its mineral wealth and value-creation potential. To get a better sense of investor enthusiasm and ground it in data, let's turn our attention to Viridian's next project in line for exploration, explaining why it supports the stock's long-term room to run. The Sedna project Viridian's 2,600-square-kilometre (km) Sedna project is located in the Seal Basin, a sedimentary copper basin as of yet untouched by advanced exploration with hundreds of copper occurrences documented in the 1960s, 1970s and 2010s in the Geological Survey of Newfoundland and Labrador's Mineral Occurrence Data System. Sedimentary basins host some of the largest and highest-grade copper deposits in the world, often delivering resources of more than 1 billion tons grading over 2 per cent copper. Management believes the Seal Basin, which was less than 10 per cent staked prior to their involvement, to be one of the most promising exploration regions in the country. Drilling surface mineralization at the Kraken project. (Source: Viridian Metals) Sedna has yielded high-grade rock samples along a 3.6-km stretch, including copper nuggets weighing up to 300 pounds, substantiating its geological similarity to globally leading sedimentary copper deposits, such as Ivanhoe Mines' 18,655-kiloton Kamoa-Kakula mine in the Congo and Highland Copper's 5.7-billion-pound White Pine mine in the US. Viridian channel samples have only bolstered Sedna's prospectivity, motivating the junior copper company to mobilize for geological work in early June to answer fundamental questions about the source of copper mineralization, including the age of the basin, whether it's of the marine or lake varieties, and which fluids are responsible for copper mobilization. Here are the highlight samples: 3.7 m at 5.3 per cent copper and 5.7 grams per ton (g/t) of silver. 1.4 metres at 1.5 per cent copper and 1.6 g/t silver. Additionally, historical work adjacent to the project in the upper stratigraphy drilled 1.9 metres at 4.7 per cent copper and 42 g/t silver at the Adeline Island Showing and trenched 11 metres at 2.9 per cent copper and 46 g/t silver along the Whiskey Lake Shear, leaving the more richly mineralized lower stratigraphy untouched. Sedna's early exploration success also led Viridian to expand the project and stake 2,600 square km across the well-mapped basin – bringing it to 70 per cent staked – making the junior copper miner the first-mover in the region and the largest claim holder in the province, adding more than 70 known, near-surface and largely unexplored copper occurrences. Viridian plans to leverage BHP's capabilities and allocate C$400,000-C$500,000 to increase its geological understanding of these new claims with eyes on potential partnerships with major miners. Residing near road and power infrastructure, and diversified by a potential silver by-product – with the metal sitting near a 10-year high of US$36.31 per ounce as of June 16 – Viridian's Sedna project is positioned to serve as the catalyst for unlocking the Seal Basin's district-scale upside, supported by what Sutherland sees as Labrador's 'exceptional geological potential' and the basin's 'capacity to deliver significant value,' according to the staking news release. The Kraken project Viridian intends to carry momentum from Sedna's likely positive news flow into late-2025 exploration at its adjacent 185-square-km Kraken copper-nickel-cobalt project, which has yielded Viridian and historical drilling of more than 4.1 per cent copper and is hosted by the same intrusions as the legendary Voisey's Bay, whose production + reserves stand at 65 million tons grading 2.4 per cent nickel, 1.3 per cent copper and ~0.1 per cent cobalt. Another analogue, Power Metallic's Nisk project in Quebec, recently delivered high-grade copper on historically nickel-dominant terrain, positioning the company for a near-term resource. Similar to copper, nickel and cobalt also play critical roles in the energy transition, with both expected to enter deficits over the next decade, and the International Energy Agency estimating that the world will need at least 60 new nickel mines and 17 new cobalt mines to stand a chance at reaching net-zero emissions. Kraken's district-scale, polymetallic upside is backed up by more than 169 conductors totaling more than 64 km of strike length near surface. This is in addition to: Surface mineralization up to 2.2 per cent nickel-copper-cobalt in pods distributed over 37 km suited to Viridian's low-cost portable drilling approach, which cuts set-up costs by 25x and mobilization costs by over 6x compared to full-sized drills, while benefitting from a less stringent permitting process. Viridian's first-mover advantage as a primarily copper-focused explorer in the region, keen to replicate Power Metallic's success at Nisk based on how the project's copper-rich ore bodies often shift away from nickel mineralization, requiring their own set of exploration parametres. The project's highest-priority target, the Kraken Main Zone, encompasses a 5-km conductor founded on historical intercepts by mining majors, including Noranda Kennecott's 8 metres grading 0.5 per cent nickel-copper-cobalt and Teck Resources' standout 46 metres at 0.3 per cent copper-nickel-cobalt (from 2 metres). The Kraken project. (Source: Viridian Metals) Viridian subsequently verified these impressive historical results with maiden drilling up to 14.8 metres at 0.42 per cent copper-nickel-cobalt from bedrock surface, leaving multiple high-grade intercepts to be tested and initial down-hole electromagnetic surveying to potentially shed light on untapped prospectivity. The junior copper miner expects to deliver a 43-drillhole exploration program at Kraken by year-end to further define high-grade copper zones, followed by a near-term maiden resource – which management believes could reach 100-300 million tons grading 0.3-0.8 per cent copper-nickel-cobalt – likely adding steam to ongoing market enthusiasm. A leadership team optimized for exploration success Viridian's vastly underexplored portfolio is under the care of a leadership team with 65 per cent insider ownership and mining expertise from the field, to capital markets, to the C-Suite, granting the junior copper company a strong foundation towards converting exploration upside into significant shareholder value. Let's meet them now: Tyrell Sutherland, Viridian Metals' CEO and top investor at 40 per cent of shares outstanding, is a geologist with 15 years of experience in mineral exploration with an emphasis on Indigenous collaboration and projects in northern Canada. Sutherland was instrumental in the acquisition and initial resource growth of Auteco Minerals' Pickle Crow mine, and served on the board of Levon Resources, owner of the largest undeveloped silver deposit in the world, during its sale to Discovery Silver. Sutherland also brings extensive experience with major miners, including as a geologist for Ivanhoe Mines and Anglogold Ashanti and as a core logger for Kirkland Lake Gold. Lee Bowles, chief business development officer, has built an over 25-year career at independent investment dealers in Toronto, New York and London. Bowles played a key role in building one of Canada's top resource investment dealers and is currently focused on providing institutional equity sales coverage focused on Europe. Sabino Di Paolo, CPA, CA, chief financial officer (CFO), is a specialist in public and private mineral exploration companies, having served as CFO of Cornerstone Capital Resources, UrbanGold Minerals, Melkior Resources and Everton Resources, among numerous other public exploration and non-exploration companies. Charlene Duffett, exploration manager, hailing from Goose Bay, Labrador, has spent the past five years engaged in remote mineral exploration across northern Canada, complementing her research background in hydrothermal deposits in Labrador's Central Mineral Belt. Duffett is a board member of She Connects, a non-profit supporting mentorship for women, and she received a 2018 Young Mining Professionals Scholarship for her contributions to the industry. Coulter Wright, head of government and grant funding, brings more than 25 years of corporate finance, investment and start-up experience to Viridian, including 12 years at AGF Investments as vice president and portfolio manager of the Canadian Growth Equity Fund. Wright's strategic investment in Real Matters led him to an executive role in 2014, guiding the mortgage and insurance technology company through three acquisitions. He has served as co-founder and CFO of Charly Inc. and redPADEL since 2016 and is currently CFO of GetintheLoop Marketing. Alan Grujic, board member, is an innovator in the areas of engineering and finance. His track record includes the founding of Infinium Group, a boundary-pushing trading firm, Galiam Capital, a quantitative hedge fund, as well as All of Us Financial, a trading platform acquired by PayPal in 2022. The following year, Grujic stepped into advisory roles in AI and biosecurity and is currently building an AI consulting start-up. Viridian's top brass ties the junior miner's value proposition together with a well-rounded skill set – one built on years of identifying and developing exploration-stage assets across the mining business cycle – optimizing investors for an outsized outcome should copper demand continue to climb as expected. Viridian's momentum is a trend worth following Our due diligence can lead us to only one conclusion, and it's that Viridian Metals' position as Newfoundland and Labrador's leading mineral claims holder has long-term staying power. As we've delineated, this thesis is supported by the project portfolio's data-driven, district-scale potential for harvesting exploration upside, positioning the company to become a leader in the Canadian junior copper space. Here's a refresher on the company's reasons for conviction: A target commodity in short supply, despite being integral to the global green energy transition, making price appreciation a reasonable long-term assumption. Over 70 copper occurrences, 169 conductors and 800 electromagnetic anomalies across a district-scale land package representing multiple years of exploration. Cash of C$2.6 million as of June 10 to continue nudging the market into recognizing Sedna and Kraken's massive upside through positive news flow. A leadership team, highly aligned with shareholders, experienced at navigating the junior mining market in risk-on and risk-off environments. These factors combine into a considerably de-risked investment opportunity, where the common sources of junior mining volatility – unproven assets, commodity demand, management chops – have all been thoroughly mitigated. Viridian's institutional ownership vehemently agrees, standing at an impressive 13 per cent, suggesting that the company's approximately 23 per cent retail ownership has made a potentially transformational investment the broader market is missing. With no debt and a tight 50 million shares issued, plus only 9.5 million shares tied to warrants, Viridian is in a prime position to tap capital markets opportunistically, while preserving shareholder value, as an increasingly tight copper market allows it to expedite project development. Join the discussion: Find out what everybody's saying about this junior copper stock on the Viridian Metals Inc. Bullboard and check out Stockhouse's stock forums and message boards. This is sponsored content issued on behalf of Viridian Metals Inc., please see full disclaimer here.
Cision Canada
02-05-2025
- Business
- Cision Canada
Viridian Metals Announces Financing to Accelerate Critical Metals Exploration in Labrador
VANCOUVER, BC, May 2, 2025 /CNW/ - Viridian Metals Inc. (CSE: VRDN) (" Viridian" or the " Company") is pleased to announce its intention to close a non brokered private placement comprised of Charity Flow-Through Units, Flow-Through Units, and Hard Dollar Units (the " Offering") for combined total proceeds of up to $1,900,000. The Offering will be comprised of a combination of: "Charity Flow-Through Units" at $0.75 per unit Each Charity Flow-Through Unit is comprised of one "flow-through" common share and one full warrant exercisable at $0.75 for 36 months from the date of issuance, subject to certain acceleration provisions in favour of the Company "Flow-Through Units" at $0.60 per unit Each Flow-Through Unit is comprised of one "flow-through" common share and one-half warrant exercisable at $0.75 for 36 months from the date of issuance "Hard Dollar Units" at $0.50 per unit Each Hard Dollar Unit is comprised of one common share and one full warrant exercisable at $0.75 for 36 months from the date of issuance, subject to certain acceleration provisions in favour of the Company Use of Proceeds The gross proceeds raised through the issuance of Flow-Through Units and Charity Flow-Through Units must be used by the Company to incur eligible Canadian exploration expenses that qualify as "flow-through critical mineral mining expenditure" within the meaning of the Income Tax Act (Canada) at the Company's Labrador mining projects. The applicable expenditures will be renounced to subscribers to the Flow-Through Units and Charity Flow-Through Units with an effective date on or before December 31, 2025. Funds will support surface geochemistry, geophysics, and drill targeting. Proceeds from the Hard Dollar Units will be used for general working capital and corporate purposes. Tyrell Sutherland, President & CEO of Viridian Metals, commented: "This financing will significantly strengthen our balance sheet, bringing total available capital to over $2.5 million. With funding in place, we're positioned to aggressively advance both the Kraken and Sedna projects. We see a clear opportunity to unlock value across multiple targets in one of the most prospective critical metals districts in Canada." Closing & Regulatory Notes The Offering is expected to close in one or more tranches, and not earlier than May 9, 2025, subject to customary closing conditions and regulatory approvals, including the approval of the Canadian Securities Exchange (the " CSE"). All securities issued pursuant to the Offering will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws. No finder's fees are anticipated in connection with the Offering. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the " U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Viridian Metals Viridian Metals is a leader in generative metal exploration with a focus on environmental responsibility and ethical practices. Founded to discover new critical metals deposits capable of transforming supply chains, we leverage innovative technologies and methods to enhance efficiency and sustainability in jurisdictions leading the energy transition. Viridian maintains expertise in a range of critical metals with a primary focus on copper, nickel and cobalt. Viridian's commitment to environmental responsibility and ethical practices ensure that its projects contribute meaningfully to the green transition, creating sustainable value for all stakeholders. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward Looking Information This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results "may", "could", "would", "might" or "will" (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forward-looking information includes, but is not limited to, information regarding the plans and expectations of the Company and expectations in respect of other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this news release, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company, including information obtained from third-party industry analysts and other third-party sources, and are based on management's current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement. Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects the Company's current beliefs and is based on information currently available to it and on assumptions it believes to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to the factors set forth in the Company's Filing Statement dated October 28, 2024 under the caption "Risk Factors". Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information contained herein is made as of the date of this news release and, other than as required by law, the Company disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected.
Yahoo
27-01-2025
- Business
- Yahoo
Viridian Metals expands land holdings in Labrador, Canada
Viridian Metals has expanded its land holdings in the Seal Basin, Labrador, by securing 2,600km² through staking. 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. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
