Hole 3 yields 0.57% Ni+Cu+Co* over
21.1 m from surface
Hole 5 yields 4.15% Copper over 0.65m
VANCOUVER, BC, Nov. 26,
2024 /CNW/ - Viridian Metals Inc. (TSXV: VRDN) (the
"Company") is pleased to announce the receipt of analytical
results for its first 6 drill holes from it's 2024 drilling
campaign on the Kraken Ni-Cu-Co Project.
"These first results from our 2024 drill campaign, demonstrate
grades that are notably higher than what we have traditionally seen
in the Main Zone. Narrow high-grade intersections in one case
containing over 4% copper in this near surface environment
highlight the strong potential for economic mineralization at the
western margin of the intrusion." said Tyrell Sutherland, CEO and president of Viridian
Metals. "The remaining 17 drill holes target areas primarily
within the intrusion itself, I am optimistic that these will
further confirm the continuity and potential of this emerging zone.
This is an exciting step forward for the Kraken project as we
continue to unlock its value and position it as a key contributor
to the critical metals supply chain."
Highlights
Hole VKS24-003 returned:
21.1m @ 0.27% Ni,
0.26% Cu and 0.04% Co from surface
-
-
- Including 10.5m @ 0.38% Ni, 0.35%
Cu and 0.05% Co from 10m
- Including 2.85m @ 0.56% Ni, 0.62%
Cu and 0.07% Co from 17.65m
Hole VKS24-005 returned:
9.4m @ 0.09% Ni,
0.36% Cu and 0.01% Co from 0.25m
-
-
- Including 2.15m @ 0.26% Ni, 1.82%
Cu and 0.1% Co from 7.5m
- Including 0.65m @ 0.24% Ni,
4.15% Cu and 0.03% Co from 9m
The first six drill holes were aimed at defining the western
margin of the Main Zone. Holes 3 and 5 successfully intersected
Main Zone mineralization with results including 21.1m of 0.57% combined Ni+Cu+Co combined and
2.15m of 2.17% Ni+Cu+Co combined.
These define the margin of the intrusion at the main zone. The
company awaits analytical results from the remaining 17 holes of
it's 2024 diamond drilling campaign. All intervals are reported as
core widths and mineralized intervals in all the holes drilled thus
far are not representative of the true width as zone orientations
are not yet apparent.
|
Drillhole ID
|
|
From (m)
|
To (m)
|
Width (m)
|
Ni+Cu+Co*
|
|
VKS24-003
|
|
0.00
|
21.10
|
21.10
|
0.57 %
|
|
including
|
10.00
|
20.50
|
10.50
|
0.78 %
|
|
Including
|
10.00
|
12.05
|
2.05
|
1.09 %
|
|
and
|
17.65
|
20.50
|
2.85
|
1.25 %
|
|
VKS24-005
|
|
0.25
|
9.65
|
9.40
|
0.47 %
|
|
including
|
7.50
|
9.65
|
2.15
|
2.17 %
|
|
VKS24-006
|
|
1.55
|
3.00
|
1.45
|
0.49 %
|
Table 1: Highlight summary of the Company's latest assay
results
*Distribution of relative amounts of Ni, Cu and Co are broken
out in detail in pages below.
Figure 1: Map showing location of drill holes, gossans,
geology and conductors at the Kraken Main Zone. Historical Drill
Holes are shown with associated drill traces and mineralized
sections colored.
|
Drillhole ID
|
Azimuth
|
Dip
|
Length (m)
|
From (m)
|
To (m)
|
Width (m)
|
Ni%
|
Cu%
|
Co%
|
|
VKS24-001
|
44
|
80
|
3.6
|
No Significant
Values
|
|
VKS24-002
|
61
|
75
|
10.7
|
No Significant
Values
|
|
VKS24-003
|
33
|
70
|
21.7
|
0.00
|
1.00
|
1.00
|
0.10 %
|
0.07 %
|
0.02 %
|
|
|
|
|
1.00
|
2.00
|
1.00
|
0.11 %
|
0.08 %
|
0.02 %
|
|
|
|
|
2.00
|
3.00
|
1.00
|
0.11 %
|
0.07 %
|
0.02 %
|
|
|
|
|
3.00
|
3.95
|
0.95
|
0.09 %
|
0.07 %
|
0.02 %
|
|
|
|
|
3.95
|
4.80
|
0.85
|
0.32 %
|
0.15 %
|
0.04 %
|
|
|
|
|
4.80
|
5.35
|
0.55
|
0.70 %
|
0.43 %
|
0.09 %
|
|
|
|
|
5.35
|
5.80
|
0.45
|
0.09 %
|
0.08 %
|
0.02 %
|
|
|
|
|
5.80
|
6.35
|
0.55
|
0.09 %
|
0.07 %
|
0.02 %
|
|
|
|
|
6.35
|
7.00
|
0.65
|
0.20 %
|
0.86 %
|
0.03 %
|
|
|
|
|
7.00
|
7.65
|
0.65
|
0.55 %
|
0.36 %
|
0.07 %
|
|
|
|
|
7.65
|
8.20
|
0.55
|
0.05 %
|
0.19 %
|
0.01 %
|
|
|
|
|
8.20
|
9.00
|
0.80
|
0.05 %
|
0.03 %
|
0.02 %
|
|
|
|
|
9.00
|
10.00
|
1.00
|
0.03 %
|
0.01 %
|
0.01 %
|
|
|
|
|
10.00
|
10.50
|
0.50
|
0.36 %
|
0.63 %
|
0.05 %
|
|
|
|
|
10.50
|
11.00
|
0.50
|
0.77 %
|
0.21 %
|
0.10 %
|
|
|
|
|
11.00
|
11.55
|
0.55
|
0.77 %
|
0.43 %
|
0.10 %
|
|
|
|
|
11.55
|
12.05
|
0.50
|
0.64 %
|
0.21 %
|
0.08 %
|
|
|
|
|
12.05
|
13.00
|
0.95
|
0.09 %
|
0.10 %
|
0.02 %
|
|
|
|
|
13.00
|
13.85
|
0.85
|
0.09 %
|
0.15 %
|
0.02 %
|
|
|
|
|
13.85
|
14.35
|
0.50
|
0.49 %
|
0.58 %
|
0.06 %
|
|
|
|
|
14.35
|
15.00
|
0.65
|
0.69 %
|
0.70 %
|
0.09 %
|
|
|
|
|
15.00
|
16.30
|
1.30
|
0.07 %
|
0.09 %
|
0.02 %
|
|
|
|
|
16.30
|
17.65
|
1.35
|
0.08 %
|
0.08 %
|
0.02 %
|
|
|
|
|
17.65
|
18.35
|
0.70
|
0.71 %
|
0.65 %
|
0.09 %
|
|
|
|
|
18.35
|
19.45
|
1.10
|
0.70 %
|
0.82 %
|
0.09 %
|
|
|
|
|
19.45
|
20.00
|
0.55
|
0.13 %
|
0.19 %
|
0.02 %
|
|
|
|
|
20.00
|
20.50
|
0.50
|
0.50 %
|
0.60 %
|
0.07 %
|
|
|
|
|
20.50
|
21.10
|
0.60
|
0.06 %
|
0.06 %
|
0.01 %
|
|
VKS24-004
|
24
|
75
|
20.7
|
No Significant
Values
|
|
VKS24-005
|
107
|
69
|
21.05
|
0.25
|
0.95
|
0.70
|
0.04 %
|
0.03 %
|
0.01 %
|
|
|
|
|
0.95
|
2.55
|
1.60
|
0.08 %
|
0.07 %
|
0.01 %
|
|
|
|
|
2.55
|
4.00
|
1.45
|
0.02 %
|
0.01 %
|
0.00 %
|
|
|
|
|
4.00
|
4.55
|
0.55
|
0.16 %
|
0.16 %
|
0.02 %
|
|
|
|
|
4.55
|
6.00
|
1.45
|
0.02 %
|
0.05 %
|
0.00 %
|
|
|
|
|
6.00
|
7.50
|
1.50
|
0.02 %
|
0.03 %
|
0.00 %
|
|
|
|
|
7.50
|
8.00
|
0.50
|
0.56 %
|
0.31 %
|
0.07 %
|
|
|
|
|
8.00
|
8.60
|
0.60
|
0.18 %
|
0.26 %
|
0.02 %
|
|
|
|
|
8.60
|
9.00
|
0.40
|
0.03 %
|
0.05 %
|
0.01 %
|
|
|
|
|
9.00
|
9.65
|
0.65
|
0.24 %
|
4.15 %
|
0.03 %
|
|
VKS24-006
|
76
|
75
|
23.65
|
1.55
|
2.00
|
0.45
|
0.58 %
|
0.64 %
|
0.08 %
|
|
|
|
|
2.00
|
3.00
|
1.00
|
0.07 %
|
0.05 %
|
0.01 %
|
Table 2: Assay results for holes VKS24-001 to VKS24-006
with Co, Cu and Ni percentages
QA/QC
Compass Exploration Group Ltd. (Compass) was retained to perform
the drilling, logging and sampling of drill core.
On receipt from the drill site AW sized drill core was
systematically logged for geological attributes, photographed and
sampled at Viridian's Core Shack in Goose Bay, NL. Core was cut in
half lengthwise along a pre-determined line, with one half (same
half, consistently, dictated by cut line where present) collected
for analysis and one half stored as a record. Standard reference
materials and blanks were inserted by Compass personnel at regular
intervals into the sample stream. Bagged samples were sealed with
security tags to ensure integrity during transport. They were
delivered by expeditor to Activation Labs' facility in Ancaster, ON.
Activation Labs is accredited to ISO/IEC 17025:2017. Samples
were dried, crushed (< 7 kg) up to 80% passing 2 mm using riffle
split (250 g) and pulverized to 95% passing 105 µm (code RX1). A
four-acid near-total digest with an inductively coupled plasma
optical emission spectroscopy (ICP-OES) finish was used for
35-element analysis on 0.25g sample pulps (code 1F2). Samples that
were over the analyses limit for Co, Cu and Ni were reanalyzed
using sodium peroxide fusion ICP (code 8-peroxide-icp-oes).
The Company also announces that pursuant to its equity incentive
plan it has granted 2,530,600 stock options to certain consultants
of the company. The grant will be effective November 27th, 2024. Each option may
be exercised for 1 common share in the capital of the Company at a
price of $0.45 per share. The options
expire 3 years from the date of the grant.
About Viridian Metals
Viridian Metals is a pioneer and leader in generative metal
exploration with a focus on environmental responsibility and
ethical practices. Founded with the intention of discovering new
critical metals deposits with the potential to transform the metal
supply chain. We leverage innovative technologies and methods to
enhance efficiency and sustainability in jurisdictions eager to be
leaders in supplying the energy transition. Viridian maintains
expertise in a range of critical metals with a primary focus on
copper, nickel and cobalt in the near term. Our commitment to
integrity and transparency fosters strong partnerships with both
local and global stakeholders.
This press release has been reviewed and approved by Mr.
Tyrell Sutherland M.Sc., P.Geo., a "qualified person"
as defined in National Instrument 43-101 - Standards of
Disclosure for Mineral Projects
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: (i) the potential for
mineralization at the Company's mining properties including the
Kraken Project (ii) the plans and expectations of the Company; and
(iii) 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.
SOURCE Viridian Metals
