Viridis Mining and Minerals expansion announcement

Viridis Mining and Minerals Ltd (ASX: $VMM) has signed a binding agreement to secure a further 998 Hectares of Licenses, extending and adjoining the Cupim South Prospect. This expansion provides Viridis a dominant land footprint with the potential to expand major discoveries made at Cupim South.

Executive commentary on strategic expansion

This strategic expansion is critical to ensure Cupim South has a significant land size to complement its exceptional grades. Our first batch of assays from diamond drilling at Cupim South provided a weighted average grade, in saprolite, of 3,460ppm, ranging from 15 to 45 metres thick and over 1.25km strike, which indicates the presence of a world-class ore body in this area. This expansion marks the final puzzle piece in our plan to consolidate a corridor of landholdings between two major resources and bridge Centro Sul to Cupim South. This has increased the footprint of Cupim South from 1.71km2 to a significant combined corridor of 15.75km2, comprising granted mining licenses, which sets up the potential for Cupim South to be an incredible asset for Viridis concerning both grade and scale.

Summary of Viridis Mining and Minerals expansion

Viridis Mining and Minerals Ltd has secured a critical expansion to its Cupim South Prospect, demonstrating remarkable grades from its diamond assays. The expansion extends the Cupim South prospect to form a 15.75km2 corridor that sits between two major JORC-Compliant IAC resources. This corridor combining Cupim South and Centro Sul includes one mining license, one mining license application, and one right to request mining. The results demonstrate that this central region of the Alkaline Complex holds tremendous potential for high-grade IAC REEs and allows Viridis to continue making world-class discoveries within the complex's central and southern regions. Viridis intends to commence exploration immediately within these new licenses, providing a runway for continual exploration and development of high priority targets.