Viridis Mining and Minerals (ASX:VMM) has staked 842 claims across 2 projects considered prospective for rare earth elements (REE) and uranium in Newfoundland and Labrador, Canada.
The company reports it spent $60,000 to apply for the claims that cover the Ytterby and Star Lake projects, with the licences to be issued within 30 days of the staking application.
Initial work planned for the projects will comprise unmanned aerial vehicle (UAV) radiometric and aerometric surveys to acquire higher-resolution imagery. This work will be followed by geochemical sampling of any identified anomalous targets.
Fieldwork programs at both projects will begin in the second half of 2023 and will include onsite geological evaluation and rock chip sampling to prioritise target definition for future drilling.
Commenting on the new applications, Viridis Mining and Minerals Executive Chairman Agha Shahzad Pervez says: “The successful acquisition of these promising exploration territories signifies Viridis’ strategic move into the critical minerals sector.
“The successful acquisition of these promising exploration territories signifies Viridis’ strategic move into the critical minerals sector”
Our dedicated team remains steadfast in its pursuit of fostering a comprehensive portfolio of mineral exploration assets to underpin growth and add value to the company.”
Viridis reports the newly acquired Ytterby claims are near the Mistastin batholith, which is known to potentially host ‘substantial’ zirconium-yttrium-niobium-rare earth element deposits. The company says the property lies within the south-eastern Churchill and Grenville Province of the Canadian Shield, which has previously attracted the attention of the Japan Oil, Gas and Metals National Corporation (JOGMEG).
The company says Ytterby provides it with exposure to a ‘significant’ land footprint of about 107km-square, considered prospective for REE, at a minimal cost of acquisition.
Meanwhile, the Star Lake Project is considered prospective for REE mineralisation associated with uranium and comprises 418 claims covering a total land area of 104km-square.
Viridis reports the newly staked exploration claims are located 35km away from Pasadena, and the ground is considered to be a greenfield exploration opportunity for REE and uranium potential based on historical data, with ‘minimal’ modern exploration completed to date.
Viridis Mining and Minerals is a resource exploration and development company focused on its portfolio of assets in Canada and Australia. These assets include the South Kitikmeot Gold Project in Nunavut, Canada, and the Boddington West Gold and Bindoon Nickel-Copper-PGE Projects in Western Australia.
Additionally, the company holds the Poochera Project in South Australia and the Smoky Project in New South Wales, which are considered prospective for kaolin-halloysite.
Write to Harry Mulholland at Mining.com.au
Images: Viridis Mining and Minerals Ltd
