Episode Details

Interview with Max Porterfield, CEO, Visionary Copper & Gold Mines

Our previous interview: https://www.cruxinvestor.com/posts/visionary-copper-gold-tsxvvcg-20000m-drill-program-targets-resource-growth-in-newfoundland-10814

Recording date: 25th September 2026

Visionary Copper & Gold Mines Inc. (TSXV:VCG, OTCQB:VCGMF) is advancing Pt. Leamington, a 100%-owned gold-copper-zinc-silver VMS deposit in central Newfoundland. The deposit was discovered by Noranda in the 1970s but saw no exploration between 2004 and Visionary's Phase 1 programme in 2026. Its 2021 NI 43-101 resource contains 5.0 Mt of Indicated resources at 1.42% CuEq and 15.4 Mt of Inferred resources at 1.32% CuEq. The pit-constrained portion hosts roughly 500,000 ounces of gold, 170 Mlb of copper and about 680 Mlb of zinc.

Phase 1 comprised 10 holes totalling 3,556 metres. It extended the massive sulphide system to more than 1 km of strike and discovered Kraken, a copper stringer zone in the deposit footwall. Discovery hole PL-112 returned 75.8 metres at 0.45% copper, including 12.0 metres at 1.09% copper. Follow-up holes PL-115 and PL-118 also returned wide copper intervals. None of this mineralisation is included in the current resource. CEO Max Porterfield argues that the existing 20 Mt resource represents only the massive sulphide lens, and that the feeder system beneath it has never been systematically tested.

The company's next step is a 20,000-metre Phase 2 diamond drilling programme. About 90% of the budget will be spent at Pt. Leamington, with each hole passing through the lens and into Kraken. The programme targets conversion of about half of the 13.7 Mt of pit-constrained Inferred resources to Indicated, extension of the lens, and definition of Kraken for the next resource estimate. Porterfield also expects Kraken to improve the future pit's strip ratio, since material previously classed as waste could become mineralised feed.

Two further initiatives add optionality. First, a hyperspectral review of 48 historical holes identified eight with wide stringer intervals that were never fully sampled, and Visionary plans to resample up to 2,000 metres of core. Second, the company has consolidated about 3,575 hectares covering the down-plunge extension of the deposit and a 3 km segment of trend to the south. That ground contains five untested airborne EM conductors on the host horizon, two with historical massive sulphide boulders nearby. Part of the acquisition remains subject to TSX Venture Exchange acceptance.

The team includes Vice President of Exploration Jason Flight, who worked at FireFly Metals' nearby Ming deposit during its growth, and Peter Jones, former founding CEO of Hudbay Minerals. Newfoundland offers supportive permitting, a local drilling workforce and a deep-water port at Botwood.

The key risks are financing and grade. Phase 2 funding is still being completed, which implies dilution. Kraken's copper grades are moderate, and its value will depend on bulk-tonnage pit economics. The 2021 CuEq figures rely on dated price assumptions, and historical boulder and core observations have not been verified by the company's qualified person. Investors should watch for completion of the Phase 2 financing, assays from resampled historical core, and early Phase 2 holes into Kraken. Together these will indicate whether Pt. Leamington's next resource estimate can show meaningful growth.

Learn more: https://www.cruxinvestor.com/companies/visionary-copper-gold-mines

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