News

VANCOUVER, British Columbia, March 24th, 2022 (Newsfile Corp.) – Visionary Gold Corp. ("Visionary" or the "Company") (TSX-V:VIZ) is pleased to announce the discovery of a 3 kilometre (km) zone of copper-gold mineralization on the Company’s Lewiston-Miz claims, located approximately 1.5 km southeast of the Wolf Gold Project (“Wolf” or “Wolf Shear Zone”) where anomalous gold values were intersected in each of five holes drilled in 2021 (see February 4th, 2022 press release).

Mineralization at Lewiston-Miz is believed to be associated with multi-kilometre long, north to northeasterly trending shear zones. Soil geochemistry along these structures at Lewiston-Miz presents much stronger anomalies for gold (“Au”), copper (“Cu”), silver (“Ag”), arsenic (“As”), bismuth (“Bi”) and tellurium (“Te”) than at Wolf. The mineralized zones at Lewiston-Miz occur within chlorite and epidote altered metagreywacke and quartzite and lay directly east of a north-striking quartz diorite dyke. A large Archean granite intrusive; the Lewiston Lakes Pluton, and a large regional fault; the Diamond Springs Fault, are less than 1 km to the east.

CEO Wes Adams commented: “Surface gold and copper grades accompanied by strong geochemical anomalies along 3 km of strike at Miz clearly represent a new top priority drill target for Visionary. Impressive results from our regional exploration programs have now identified several new targets associated with the Miner’s Delight Formation and other nearby areas within this portion of the Wyoming Craton, including the Wind Hill target located adjacent to Wolf, which we also plan to test.  We will continue to provide updates on new targets as we work toward an exciting summer drill program, for which we have already secured a drill rig.”

Visionary has recently staked new claims in the Lewiston-Miz area, which now includes 214 contiguous claims, covering approximately 4280 acres.

Planning and permitting of drillholes to test the Lewiston-Miz shear structure have commenced and drilling is expected to take place this summer and fall 2022.

2021 Exploration Summary

During the 2021 exploration campaign, a total of 1,011 core samples, 624 rock samples and 3,211 soil samples (85 line km) were taken across the Company’s claims in the Lewiston Mining District. The core samples came from 5 holes drilled in the Wolf Shear (see PR with date November 19, 2021 and February 4, 2022).

Wolf and Wind Hill

The drilling program at Wolf (see PR dated February 4, 2022) revealed the existence of several mineralized zones associated with sub-parallel shear zones and/or highly deformed and metamorphosed greywacke belonging to the Miner’s Delight formation. The mineralized zones present strong to moderate chloritic alteration, silicification, and/or an increase in quartz veinlets. The mineralized intervals and the lithologies intercepted are illustrated in Figure 1.

Figure 1: Wolf drillhole plan map and vertical drillhole long section showing lithology and gold assay results

Further exploration work revealed a mineralized zone located approximately 700 metres northwest of Wolf (see PR November 19, 2021) where rock samples have yielded assay values up to 2.82 grams per tonne (“g/t”), 1.71 g/t and 1.66 g/t gold respectively within old mine working and outcrops. This area, Wind Hill, appears to be geochemically similar to the Wolf, where anomalous gold, arsenic and antimony are associated with mapped shears, and display moderately elevated electrical chargeability. The shear zones at Wind Hill are strongly deformed and contain high concentrations of iron oxide. The 2021 drilling confirmed continuous low-grade gold mineralization along strike at Wolf. Follow-up drilling in 2022 will test for ore shoots within the Wolf Shear Zone as well as testing for mineralized cross-cutting structures and ladder veins that have been identified by mapping and sampling as potential hosts for the higher-grade mineralization.

Lewiston-Miz Targets

Drilling will focus on north to northeast trending mineralized shears that contain highly anomalous levels of Gold, Silver, Copper, Arsenic, Antimony, Tellurium and Bismuth, immediately adjacent to intrusive quartz diorite, tonalite and other mafic dykes. Additional structural mapping, rock and soil sampling will also be included as part of the exploration program.

A map of the Lewiston-Miz land tenure with sample locations is shown below in Figure 2. The stars represent significant historic mine workings.

Figure 2. Visionary Gold Corp’s land tenure in the Lewiston Gold District, Fremont County, Wyoming

Table 1. Select rock samples results from the Lewiston-Miz Area

Geologically, the Lewiston-Miz targets are located within the Miner’s Delight formation and, much like the Wolf and Wind Hill shears, are strongly deformed. The samples thought to be most representative are VGR000130 and VGR000131 with grades of 3.68 grams per tonne (“g/t”) Au, 1.05 percent Cu and 1.63 Au g/t Au and 2.11 percent Cu, respectively. These samples were collected adjacent to old mine workings near the contact with a quartz diorite dike that strikes north-south. The geochemical anomalies (Figure 3 and Figure 4 below)  appear to be associated with the intrusive dike, within Archean schist and amphibolite.

Figure 3: Wolf-Wind Hill and Lewiston-Miz Gold Geochemical Anomalies

Figure 4: Mosaic maps for Wolf-Wind Hill and Lewiston-MIZ: Ag, Cu, Bi and geology.

Quality Assurance/Quality Control (QA/QC) Technical Disclosure

Drill Core QA/QC Drill core (HQ ~63.5 millimetres) was geologically logged with samples defined based on observed geological features. Sample intervals were cut in half with a core saw with on half placed in a sample bag and the other retained in the core box for reference. Samples were batch shipped from Visionary’s secure logging facility to ALS Global laboratory (ISO/IEC 17025:2017 accredited) in Reno, NV, or American Analytical Services Inc. (ISO 17025:2005 accredited) in Osburn, ID. A QA/QC program using the insertion of blanks, duplicates and certified reference materials was maintained throughout the program.

Soil Samples QA/QC

Soil samples were collected by hand using long nosed shovels from C horizon soils where possible. The nature of the terrain and significant outcrop produces poor quality soil that is often very shallow. Approximately 0.5 kilograms of soil sample was collected; organic material and gravel were removed from the sample. Samples were kept at the Company’s secure, locked storage facility until shipped direct to ALS Geochemistry’s preparation laboratory in Elko, NV. Soils were then dried at 60 degrees Celsius and sieved to 180 microns (80 mesh). Twenty-five grams of sample is digested with Aqua Regia and analyzed by ICP-MS. Multielement analysis for was carried out by ALS Geochemistry of Reno, NV (Code: AuME-ST43), a super trace multielement package that analyzes for 53 elements including Au, platinum (“Pt”) and palladium (“Pd”).

QA/QC included the following: industry certified standards were inserted into the sample stream along with analytical blank material at the Company’s secure facility; sample duplicates were collected in the field. 153 QA/QC samples of 3211 total soil samples were applied to the sample stream, or approximately 5 percent.

References

Hausel, D. 1991. Economic Geology of the South Pass Granite-Greenstone Belt, Southern Wind River Range, Wyoming; Report of Investigations No.44, The Geologic Survey of Wyoming, 1991.

About Visionary Gold Corp.

Visionary Gold Corp is a Vancouver-based mineral exploration company focused on precious metals discovery and development in the historically productive Lewiston gold district of Fremont County, Wyoming, a district that, while having a strong gold mining history, has never been explored using modern techniques. The Company now controls an approximately 50 square kilometre land package with numerous drill ready targets.

For further information, please visit the company website at:
www.visionarygoldcorp.com

Contact:
Wes Adams, Chief Executive Officer
Visionary Gold Corp.
410-325 Howe Street
Vancouver, BC V6C 1Z7
Tel: (303) 809-4668

Technical Disclosure Advisory

The scientific and technical information in this announcement as it relates to exploration results at the Lewiston-Miz Project is based on information reviewed by Mr. Alan Roberts.  Mr Roberts (MSc: Mineral Exploration & Geophysics) is a Senior Consultant to Visionary Gold Corp. and is a Certified Professional Geologist (AIPG: CPG#11260) through the American Institute of Professional Geologists (AIPG), an organization whose members are recognized as Qualified Persons pursuant to NI 43-101.  Mr Roberts has sufficient experience in the exploration and development of the style of mineralisation under consideration to act as a Qualified Person as defined in the “NI 43-101 Standards of Disclosure for Mineral Projects, dated June 24, 2011”. Mr Roberts consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. Mr. Roberts is an independent consultant to the company.

It should be noted that the potential quantity and grade of the exploration targets disclosed in this press release is conceptual in nature, that there has been insufficient exploration to define a mineral resource and that it is uncertain if further exploration will result in the target being delineated as a mineral resource as per the NI 43-101 reporting standards.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of Canadian securities legislation. These include, without limitation, statements with respect to analysis of core samples and other results from Visionary's 2021 exploration program and further drilling and exploration progress. Forward-looking statements are necessarily based on several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic and regulatory risks; capital and operating costs varying significantly from management estimates; timing of the provision of services by third parties; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; inflation; fluctuations in commodity prices; delays in the development of projects; and the other risks involved in the mineral exploration and development industry generally.  Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether because of new information, future events, or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.