Viridian Metals (CSE:VRDN) says step-out drilling along the Main Zone of its Kraken Project in Labrador, Canada, has intersected visually identified sulphides across a distance of 3km.
In an update, the company reports that all eight holes completed along the southern Main Zone intersected sulphides that it considers to be similar in style to those previously identified within the zone.
The latest holes tested approximately 3km of the southern Main Zone, beginning about 500m south of Viridian’s 2025 drilling and extending towards a hole completed in 2023.
Seven holes encountered patchy net-textured sulphides from the top of bedrock, while five ended in similar sulphide mineralisation, which the company says remains open.
The broadest interval was recorded in hole VKS26-063, which intersected 47.3m of patchy net-textured sulphides. Three other holes returned intervals of 41.8m, 33.2m, and 28m.
Two of the holes also intersected semi-massive sulphide intervals of 7.7m and 6.7m.
‘Visually identified sulphides’
“These results demonstrate the scale over which we continue to see the same sulphide system at Kraken Main,” Viridian Metals CEO Tyrell Sutherland says.
“Across 3km of the southern Main zone, drilling has now intersected visually identified sulphides at an average spacing of approximately 400m, including higher-intensity semi-massive sulphides comparable to our best results to date.”
Viridian says the 3km section was previously tested by two partially analysed holes spaced more than 1km apart, along with a 2023 drill hole at its southern end.
“We are now filling in that gap, consistently encountering sulphides from the top of bedrock, with several holes ending in visual mineralisation. These results are consistent with the scale of the Main Zone suggested by our interpretation,” Sutherland adds.
Viridian currently has two drill rigs on site completing the 19th and 20th holes of the season, both of which are testing the Venus target. The drilling is following up a 2023 hole that returned 7.55m at 0.4% nickel, 0.2% copper, and 0.05% cobalt.
Viridian expects to complete the two Venus holes next week, after which both rigs will return to the northern Main Zone.
There, the company plans to extend several holes from its 2025 program that ended in upper disseminated mineralisation or failed to reach bedrock.
First step-out assays due in October
To date, Viridian says it has drilled approximately 900m and has seen an uptick in metres drilled by 20% in the month of September.
Viridian expects initial samples through hole VKS26-063 to be processed and submitted to the laboratory next week, with assay results expected before the end of October.
The results will provide the first assays from the step-out drilling across the southern portion of Kraken Main, according to the company.
DTC eligibility
Separately, Viridian has announced that its common shares are now eligible for electronic clearing and settlement in the US through the Depository Trust Company (DTC).
The company says DTC eligibility is expected to simplify trading of its shares in the US and could improve accessibility for US investors.
Viridian’s shares recently began trading on the OTCQB Venture Market under the ticker VIRMF.
Viridian Metals describes itself as a “pioneer and leader in generative metal exploration”, with a focus on environmental responsibility and ethical practices.
Write to Jackson Chen at Mining.com.au
Main Image: Viridian Metals
