- Early drilling at Kraken intersects copper and nickel sulfides over widths of up to 20 metres.
- Four holes cut more than 10 metres of semi-massive to massive pyrrhotite with chalcopyrite.
- Viridian is funded with $2 million in treasury to continue drilling through October.
- Viridian Metals (CSE: VRDN) closed at C$0.52, up C$0.04 or 8.33 per cent.
Viridian Metals Inc. (CSE: VRDN) has reported strong early results from drilling at its 100-per-cent-owned Kraken Copper-Nickel-Cobalt Project in Labrador, with several holes intersecting extensive near-surface sulfide mineralization.
This content has been prepared as part of a partnership with Viridian Metals Inc. and is intended for informational purposes only.
Of the 14 holes drilled to date, eight intersected copper and nickel sulfides over widths of up to 20 metres. Four holes cut more than 10 metres of semi-massive to massive pyrrhotite containing disseminated and veined chalcopyrite, while four holes ended in mineralization at depths of about 25 metres.
“Several of our earliest holes at Kraken are mineralized from the collar through to end-of-hole, underscoring the shallow nature of this system,” said Tyrell Sutherland, President & CEO. “Drilling will continue through to the end of October, and with approximately $2 million in the treasury, Viridian remains well capitalized to advance the project and to resume exploration and drilling programs next year.”
The company expects to complete up to 35 drill holes in the current program, covering about 400 metres of strike length at the Kraken Main Zone. Drilling is designed to confirm continuity of shallow mineralization and vector toward copper-rich zones identified in core samples.
Compass Exploration Group Ltd. is carrying out the drilling with its low-impact Mini-Rig diamond drill rig. To date, the rig has tested bedrock to 26 metres depth beneath overburden of up to 9 metres. Viridian is working to expand the rig’s capacity to 50 metres. The Mini-Rig reduces surface disturbance and costs, allowing the company to test more shallow targets suited to the mineralization style at Kraken.
The first batch of drill core is scheduled for shipment to Activation Laboratories in Ontario at the end of September, with results expected before the end of October. QA/QC protocols include certified standards, blanks, and duplicates to ensure accuracy.
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