Vancouver, British Columbia--(Newsfile Corp. - March 27, 2024) - Visionary Metals Corp. (TSXV: VIZ) (OTC Pink: VIZNF) ("Visionary" or the "Company") is pleased to announce that it has been recommended for funding of up to USD $1,000,000 from the Wyoming Energy Authority ("WEA") through its energy matching funds program. Visionary has proposed a total project budget of USD $3,085,000 and has committed to spending USD $2,085,000, over the next twelve months. The proposed proceeds will be used to advance the King Solomon Nickel Project and to evaluate the potential for additional critical and strategic mineral deposits in Central Wyoming. At the conclusion of the project, Visionary has agreed to produce a technical report detailing all findings and recommendations for future work programs, which will be shared with the WEA and Wyoming State Geologic Survey.
"It is great to be working in Wyoming, where leaders in government and innovative companies are working together to find new sources of critical and strategic minerals like nickel and cobalt and platinum group elements. These elements are used to make stainless steel, batteries for hybrid and electric vehicles, semi-conductors, catalytic converters, consumer electronics and other products which we consume, but do not produce in any abundance, domestically. The first step toward creating domestic circular supply chains for the strategic minerals used in these products is to locate and evaluate new resources and we're gratified that Wyoming is taking the initiative to support our exploration efforts."
About The King Solomon Nickel Project
The King Solomon Nickel Project represents the first known discovery of nickel sulfide in the State of Wyoming and the first new nickel discovery in decades in the western United States. The King Solomon deposit is the first of several nickel bearing ultramafic bodies identified during regional exploration along a structural corridor that has now been traced for 100 kilometres ("km") which Visionary intends to evaluate. These nickel bearing bodies of rock bear similar characteristics to other productive Archean nickel sulfide districts, which have disseminated mineralization near surface and high-grade massive sulfide mineralization at depth. The King Solomon Deposit was discovered on just the third drill hole of Visionary's 2022 drill program (See March, 6th, 2022 Press Release) and reverse circulation drilling in 2023 intercepted disseminated nickel mineralization in 12 out of 14 holes (see January 17th, 2024 Press Release).
Next Steps
In the coming months, Visionary plans to begin a regional Versatile Time Domain Electromagnetic ("VTEM") survey to target possible massive sulfide mineralization at Tin Cup, King Solomon, Black Rock and other unnamed targets within Visionary's land package. Diamond core drilling is expected to begin at King Solomon in July to determine accurate grades and widths of the broad zones of mineralization intercepted in Visionary's 2023 RC drill program, which intersected nickel mineralization in all but two drill holes. Drill programs at Tin Cup, Black Rock and other targets will be planned and executed after completion of the VTEM survey.
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 55 square kilometres with numerous drill ready targets, all accessible by road and within a one-hour drive from Visionary's US headquarters in Lander, Wyoming.
Contact:
Wesley Adams, Chief Executive Officer
Visionary Metals Corp.
407-325 Howe Street
Vancouver, BC V6C 1Z7
Tel: (303) 809-4668
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: receipt of all of the WEA funds; Visionary's capital commitment of USD $2,085,000; conduct of a regional VTEM survey; conduct of a diamond core drilling program; and other potential exploration and development activities based on the results of the VTEM survey. 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 ability of the Company to raise sufficient funds to conduct its proposed exploration and development activities.
The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors including: the Company may not raise sufficient funds to conduct its proposed exploration and development activities; the Company may determine not to proceed with certain planned activities; 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/203201
