By Penny Langford
Visionary Copper and Gold is transitioning into a high-intensity expansion phase at its Pt. Leamington Volcanogenic Massive Sulphide (VMS) project in central Newfoundland. Following the successful discovery of the copper-rich Kraken Zone during its Phase 1 program, the company has formally submitted permits for a significant Phase 2 diamond drilling campaign. This next stage of exploration is designed not only to upgrade the existing 5.0 Mt indicated resource but also to test the thesis that Pt. Leamington is the epicenter of a much larger, district-scale mineralized system.
As the global copper price forecast 2026 points toward a structurally undersupplied market with prices clustering between $11,000 and $13,500 per tonne, advanced explorers with high-grade VMS potential are increasingly categorized among the mining stocks to watch 2026. Visionary’s aggressive move to secure a ~30,000-hectare land package suggests the company is looking well beyond the historical deposit boundaries.
The Kraken Discovery: A Paradigm Shift in Potential
The Phase 1 program at Pt. Leamington yielded a technical breakthrough: the delineation of the Kraken Zone. Located in the footwall of the main massive sulphide lens, Kraken represents a distinct, copper-rich horizon that remains open in all directions.
In VMS systems, footwall zones often host the highest-grade copper mineralization, providing the "engine" for overall project economics. At Pt. Leamington, every hole targeting the Kraken Zone to date has intersected mineralization, with strike continuity now confirmed over 800 meters. Notable intercepts from earlier work include 76 meters at 0.45% Cu and 23 meters at 1.5% Cu.
For investors monitoring the copper valuation gap, the emergence of a copper-heavy zone adjacent to an already established polymetallic resource is a significant catalyst. The Kraken Zone allows for a potential optimization of the project flow sheet, shifting the focus toward higher-value copper concentrates as global demand for electrification metals intensifies.
Phase 2 Drilling: Objectives and Scale
The upcoming Phase 2 program is expected to deploy two diamond drill rigs for a planned 15,000 to 20,000 meters of drilling. The primary objectives are twofold:
- Resource Category Upgrade: Converting current inferred resources into the indicated category within the first 500 meters from surface. This is a critical step for the eventual completion of a Preliminary Economic Assessment (PEA), which the company aims to fast-track.
- Kraken Delineation: Systematically stepping out along strike and down-plunge to determine the full dimensions of the Kraken Zone. Management intends to integrate this zone into a revised geological model that could materially increase the contained copper tonnage.
By focusing on the upper 500 meters, Visionary is prioritizing an open-pit-constrained development scenario. This approach typically offers lower capital intensity and faster timelines to production: factors that are highly prized in the current mining stocks to watch 2026 environment where capital discipline is paramount.
Pt. Leamington Project Snapshot
| Attribute | Details |
|---|---|
| Location | Central Newfoundland, Canada |
| Deposit Type | Polymetallic VMS (Au-Cu-Zn-Ag-Pb) |
| Indicated Resource | 5.0 Mt @ 2.5 g/t AuEq (402 koz AuEq) |
| Key New Zone | Kraken (Copper-rich footwall) |
| Land Package | ~30,000 Hectares (Expanded in 2026) |
| Phase 2 Program | 15,000 – 20,000 meters (Pending Permits) |
Establishing a District-Scale Footprint
Perhaps the most ambitious aspect of Visionary’s recent activity is the massive expansion of its regional land position. The company now controls roughly 300 km² across 21 mineral licenses, including the Lewis Lake area.
This regional play is built on the geological premise that VMS deposits rarely occur in isolation. In established VMS camps like Flin Flon or Noranda, multiple lenses are typically found along the same stratigraphic horizon. Visionary has already filed permits for prospecting and ground geophysical surveys across this broader package to identify "satellite" deposits that could eventually feed into a central processing hub at Pt. Leamington.
Drilling operations in remote Newfoundland landscapes are central to the district-scale exploration strategy.
Market Context: Copper Price Forecast 2026
The timing of Visionary’s expansion coincides with a period of intense scrutiny on global copper supplies. According to a consensus of major financial institutions, including JP Morgan and S&P Global, the copper price forecast 2026 suggests a sustained deficit.
Several factors are driving this outlook:
- Concentrate Shortages: Smelter capacity has expanded faster than mine supply, leading to record-low treatment and refining charges (TC/RCs).
- Infrastructure Demand: Continued investment in power grids, AI data centers, and the energy transition is keeping consumption high despite varied macro conditions.
- Jurisdictional Quality: Investors are increasingly pivoting toward projects in stable, Tier-1 jurisdictions like Canada to mitigate the risks seen in higher-political-risk regions.
As noted in our recent analysis of copper demand and the 2026 energy nexus, the "scarcity premium" for advanced-stage projects is reaching multi-year highs. If Phase 2 drilling successfully expands the Kraken Zone, Pt. Leamington may move from a regional exploration project to a strategically significant asset in the North American critical minerals supply chain.
Operational Milestones and Strategic Path
Visionary has already mobilized field personnel to the site to begin the preliminary prospecting and geophysical work authorized under its current permits. The commencement of the two-rig Phase 2 diamond drilling program is the next major milestone on the horizon, pending final exploration approval from the Newfoundland and Labrador Department of Energy and Mines.
Beyond the drill bit, the company is preparing for a two-phase metallurgical program. This work will be essential to prove that the complex polymetallic mineralization at Pt. Leamington: and the newer copper-rich Kraken material: can be effectively separated into high-value concentrates. Success in the lab will be just as important as success in the field for the project's eventual bankability.
Conclusion
Visionary Copper and Gold’s strategy at Pt. Leamington reflects a broader trend in the 2026 mining landscape: the aggressive pursuit of scale in Tier-1 jurisdictions. By doubling down on the Kraken Zone and securing a massive regional land package, the company is betting that Pt. Leamington is not just a single deposit, but the key to an entire VMS district.
For those following the critical minerals 2026 outlook, the results of the upcoming 20,000-meter Phase 2 program will provide a definitive test of this district-scale thesis. In a world hungry for copper and gold, Pt. Leamington is quickly becoming a primary focal point for Newfoundland’s mineral future.
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LinkedIn: Visionary Copper and Gold is "unleashing the Kraken" in Newfoundland. With a 20,000m Phase 2 drill program and a 30,000 ha land package, is this the next major VMS district? #Copper #Mining #Newfoundland #Gold #CriticalMinerals #MiningStocks2026
X: $VIZ moves to Phase 2 at Pt. Leamington. 20,000m of drilling targeting the copper-rich Kraken Zone. A district-scale VMS play in the making. #CopperPrice #Gold #MiningNews
