Vancouver, July 19, 2023 -
Visionary Metals Corp. (TSXV: VIZ) ("Visionary" or the "Company") is pleased to announce plans for a 4,500 metre drill program at its King Solomon Nickel project ("King Solomon") in the Granite Mountains of Central Wyoming which is expected to commence in Q4, 2023. The program will follow up on the Company's recent nickel sulfide discovery made at King Solomon (see news release dated March 6, 2023).
Visionary has staked new claims at both its King Solomon project and Tin Cup prospect, located 15 kilometres west of King Solomon, where a new 4.3km-long nickel-in-soil anomaly has been identified. In total, Visionary now controls approximately 45km2 of federal mining claims and mineral leases on Wyoming State Lands in the Granite Mountains, where it is exploring for critical, and strategic metals required for global electrification, including nickel, cobalt, copper and platinum group elements.
"We are excited to announce plans for a follow-up drill program at King Solomon to expand on a brand-new nickel-sulfide discovery, which we believe may be the first new nickel sulfide discovery in the continental western United States since the early 1940s," stated Visionary Metals CEO, Wes Adams. "Our encouraging regional exploration results at Tin Cup indicate that King Solomon is not an isolated nickel occurrence, and that potential exists for more discoveries regionally. Geologically, the Granite Mountains of Central Wyoming exhibit all of the characteristics needed to form copper, nickel and platinum group element deposits and Visionary is focused on unlocking the potential of this new exploration district."
King Solomon Exploration Highlights
- 1.5km by 600m wide low-resistivity, moderate chargeability gradient geophysical anomaly, indicative of the target sulfide mineralization.
- Discovery hole KS22-003 intercepted 44m of 0.23% nickel, including 17m of 0.43% nickel and 226 parts per million (ppm) cobalt at top of geophysical anomaly (see news release dated March 6, 2023).
- Discovery made within an area with significant permanent infrastructure, including haul roads, high tension electrical lines and natural gas pipelines, installed for previous nearby uranium mining.
- Microscopic analysis identified class one (battery-grade) nickel sulfide within ultramafic host rock.
- Permit amendments underway for 12,000m of Reverse Circulation ("RC") drilling.
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Figure 1. Plan View Gradient Geophysical Survey Results
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Figure 2. Microscope Photo of Pentlandite Observed in KS22-003 Drill Core
Tin Cup Exploration Highlights
- 648 soil samples and 242 rock samples collected.
- 3.5km induced polarization ("IP") line.
- Nickel-chromium in-soil anomaly at least 4.3km long corresponding with recently discovered ultramafic outcrops, the essential host rock for potential nickel mineralization.
- These ultramafic rocks are associated with coincident IP and nickel-in-soil anomalies indicative of sulfide mineralization.
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Figure 3. Mapped soil anomaly at Tin Cup and Ultramafic Outcrop
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Figure 4. Tin Cup IP Geophysical Cross-section
About Visionary Metals Corp.
Visionary Metals Corp. is a Vancouver-based mineral exploration company focused on making new electric metals discoveries in Fremont County, Wyoming. Visionary's mission is to explore responsibly and to develop resources in a manner that is beneficial to all stakeholders. While central Wyoming has a strong mining history and favourable geologic conditions to host many types of metal deposits, it has never been systematically explored using modern techniques. The Company now controls a land package greater than 80 square kilometres with numerous drill ready targets, all accessible by road and within a one-hour drive from Visionary's US headquarters in Lander County, Wyoming.
Contact:
Wesley Adams, Chief Executive Officer
Visionary Metals Corp.
407-325 Howe Street, Vancouver, BC V6C 1Z7
Tel: (303) 809-4668
Technical Disclosure
IP data was collected initially with a 25m spaced dipole-dipole and then with 50m and 100m dipole spaced dipole-dipole setup.
Soil samples were collected by hand using long nosed shovels from C horizon soils where possible. Approximately 0.5 kilograms of soil sample was collected; organic material and gravel were removed from the sample. Samples were kept at the Company's secure, locked storage facility until shipped direct to ALS Geochemistry's preparation laboratory in Elko, NV. Soils were then dried at 60 degrees Celsius and sieved to 180 microns (80 mesh). Twenty-five grams of sample is digested with Aqua Regia and analyzed by ICP-MS. Multielement analysis was carried out by ALS Geochemistry of Reno, NV (Code: AuME-ST43), a super trace multielement package that analyzes for 53 elements including Au, platinum and palladium.
The scientific and technical information in this announcement as it relates to exploration results is based on information reviewed by Mr. Michael Page FAusIMM), a Qualified Person pursuant to National Instrument 43-101 - Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators ("NI 43-101"). Mr. Page has 50 years of relevant nickel exploration experience in the style of mineralization under consideration to act as a Qualified Person. Mr. Page consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. Mr. Page is the Company's Chief Geologist .
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. These include, without limitation, statements with respect to: the completion of the satisfaction of certain debts of the Company for shares. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: the approval of the Exchange of the shares for debt transactions.
The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: denial of acceptance of the Company's filing of a shares for debt application by the Exchange; and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
