Viridian Metals (TSXV: VRDN) announced Friday it has expanded its land position in Labrador through staking, securing 2,600 km² of the prospective Seal Basin.  

This newly acquired claim package contains over 70 documented copper occurrences, the majority of which remain unexplored, the company said, adding that it has become the largest claim holder in Canada’s Newfoundland and Labrador.  

“This large project area is a testament to the exceptional geological potential we see in Labrador,” Viridian CEO Tyrell Sutherland said in a news release. 

 “The area we’ve secured offers a wealth of exploration opportunities. We are excited to accelerate our work in such a highly prospective region and believe it has the capacity to deliver significant value as we seek to discover the extent [of] its mineral wealth.” 

The region is believed to host promising geological formations conducive to copper concentration, Viridian said. The newly acquired Seal Basin claims bolster Viridian’s ability to implement large-scale exploration initiatives, defining high-priority zones through preliminary data analysis.  

The copper occurrences are documented in the Geological Survey of Newfoundland and Labrador’s Mineral Occurrence Data System (MODS) recorded during mapping programs in the 1960’s, 70s and 2010s, it said.  

Viridian has the Kraken project in Labrador, in area spans 185km2 that has been the site of historical work by Noranda/Kennecott and Teck Resources and the Sedna project.

This month, Viridian Metals was chosen by BHP from hundreds of global applicants to participate in its 2025 Xplor accelerator program. 

By market close in Toronto Friday, Viridian’s stock was up over 11%. The company has a C$24.3 million market capitalization.

Source: MINING.COM – Read More