The Ytterby exploration claims are strategically situated near the Mistastin Batholith, Labrador, a structure known for hosting Zr-Y-Nb-REE deposits. The Star Lake exploration claims are located 35km from the town of Pasadena, Newfoundland, and represent a greenfield exploration opportunity for rare earths and uranium.

Overview

On 22 May 2023 the Company announced the successful staking of 842 claims, covering a total area of 211km², prospective for rare earth elements (‘REE’) and uranium in Newfoundland and Labrador, Canada.

Newfoundland and Labrador offer a favourable mining environment, with a supportive government for mineral exploration and operations. In 2010 and 2011 this section of Labrador, south and west of Mistastin Lake, was explored for the first time, and REE mineralisation was discovered in association with compositionally evolved granitoid rocks (A Kerr and M A Hamilton 2014).

Highlights

  • Viridis has staked two prospects totalling ~211km² (842 new claims) across Newfoundland and Labrador, Canada, which are highly prospective for rare earths

  • The Ytterby exploration claims are strategically situated near the Mistastin Batholith, Labrador, a structure known for hosting Zr-Y-Nb-REE deposits
  • The Star Lake exploration claims are located 35km from the town of Pasadena, Newfoundland, and represent a greenfield exploration opportunity for rare earths and uranium
  • Viridis plans to conduct UAV radiometric/aeromagnetic surveys followed by field programs over the target areas
  • Project generation ongoing with the identification and review of a number of potential acquisition opportunities in the battery and critical minerals sector

Ytterby

The Ytterby exploration claims in Labrador are strategically situated near the Mistastin batholith, and Mistastin and Misery Lakes. The Mistastin Batholith is known for potentially hosting substantial Zr-Y-Nb-REE deposits, which are currently generating significant exploration interest. The mineral property is within the southeastern Churchill and Grenville Province of the Canadian Shield. The properties within this region have previously attracted the attention of JOGMEC (Japan Oil, Gas and Metals National Corporation) for its potential to host rare earths. The project provides the Company with exposure to a significant land footprint (~107km²) prospective for REE, at minimal cost of acquisition.

Viridis Ytterby Licences

Star Lake

The Company staked the second property which is prospective for REE mineralisation associated with uranium in Newfoundland comprising of 418 claims covering a total 104km². The exploration claims are situated 35km away from Pasadena. This ground is considered by the Company to be a greenfield exploration opportunity for REE and uranium potential based on historical data, with minimal modern exploration completed to date.

Initial planned work at the Ytterby and Star Lake Projects will comprise of UAV radiometric/aeromagnetic surveys to acquire higher resolution imagery, followed by geochemical sampling of any identified anomalous targets.

Future exploration will comprise onsite geological evaluation (structure, lithological, stratigraphic disposition) and rock chip sampling to prioritise target definition for future drilling.

Next Steps

Initial planned work at the Ytterby and Star Lake Projects will comprise of UAV radiometric/aeromagnetic surveys to acquire higher resolution imagery, followed by geochemical sampling of any identified anomalous targets.

Fieldwork programs, commencing in second half of 2023, will include onsite geological evaluation (structure, lithological, stratigraphic disposition) and rock chip sampling to prioritise target definition for future drilling.