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Portfolio Highlight - Point Leamington
Visionary holds a 100% ownership Point Leamington Deposit in Newfoundland, located in one of the richest VMS and Gold Districts in Canada. Pt. Leamington is a large, near surface, pit constrained mineral resource rich in gold, copper and other critical minerals. The property benefits from excellent infrastructure, with direct access via road and trail networks, situated approximately 37 kilometres from the city of Grand Falls–Windsor and 20 kilometres from the provincial power grid.
The Point Leamington deposit was originally discovered by Noranda in the 1970s and advanced as a potential open-pit mining operation. In 1999 BHP Billiton optioned the Project in exchange for funding its advancement to commercial production. The last exploration drilling to expand the deposit area occurred in 2004.
Newfoundland – World Class Mining District
The region is recognized as one of Canada’s richest volcanogenic massive sulphide (VMS) districts on a per-square-kilometre basis. The historic Buchans Mine produced approximately 16 million tonnes of ore with exceptional grades, including 14.5% zinc, 7.6% lead, 1.3% copper, 1.4 g/t gold, and 127 g/t silver. More recently, Teck Resources operated the nearby Duck Pond Mine until its closure in 2015.
