# Visionary Receives Exploration Permits for Its High-Grade Copper and Gold Pine Bay Project in the Flin Flon Mining District, Manitoba Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/visionary-receives-exploration-permits-for-its-high-grade-copper-and-gold-pine-b--94ed4833-16c6-4e77-8a5a-036050678082 Original source: https://orestocks.com/company/VCG.V/press-releases/6771433498870607 Publisher: orestocks Original announcement: 2026-10-20T12:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-20T13:17:52.881Z Atlas analysis updated: 2026-10-20T13:17:52.881Z - Company: Visionary Copper and Gold Mines Inc. - Ticker: VCG.V - Exchange: Unavailable - Region: Manitoba - Primary commodity: Copper - Secondary commodities: Gold, Zinc, Silver, Lead - Document categories: Permitting, Resource update, Other - Extracted: 2026-10-20 13:17:53 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Visionary Copper and Gold Mines Inc. has received two exploration work permits from the Province of Manitoba for its Pine Bay and Alberts Lake properties, valid through December 31, 2028. These permits authorize surface diamond drilling, line cutting, geophysics, and trail clearing, allowing the company to advance planned exploration at its high-grade copper and gold project. The company also highlighted its existing Rainbow deposit resource and ongoing efforts to secure an Advanced Exploration Permit for potential early production. Reasoning: Visionary has secured key exploration permits for its Pine Bay Project, enabling future drilling and exploration activities, which is a positive step for project de-risking and advancement, although the AEP for bulk sampling remains pending and the resource estimate is historical. - Positive factor: Exploration permits received for Pine Bay and Alberts Lake properties - Positive factor: Permits authorize surface diamond drilling, line cutting, geophysics, and trail clearing - Positive factor: De-risks future exploration and project advancement - Positive factor: Project has existing high-grade copper and gold resources \(Rainbow deposit\) - Positive factor: Good infrastructure proximity \(road access, proximity to processing facilities\) - Negative factor: Advanced Exploration Permit \(AEP\) application for bulk sample is still pending - Negative factor: Resource estimate is historical \(effective date August 2023\) and not new - Negative factor: Historical drill results mentioned are not NI 43-101 compliant and not new assays Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 13 ## Classification and evidence **Permit Granted** Polarity: positive Story-specific tag Definition: No canonical definition is currently available. Why it applies: Visionary has received two exploration work permits from the Province of Manitoba, valid through December 31, 2028, covering the Pine Bay and its adjoining Alberts Lake property. Evidence · text > Visionary has received two exploration work permits from the Province of Manitoba, valid through December 31, 2028, covering the Pine Bay and its adjoining Alberts Lake property. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The resource estimate is explicitly stated as an "NI 43-101 Mineral Resource Estimate prepared by Kirkham Geosystems Ltd." Evidence · text > NI 43-101 Mineral Resource Estimate prepared by Kirkham Geosystems Ltd. **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The Rainbow deposit hosts an Indicated Mineral Resource of 3.44 Mt grading 3.59% CuEq. Evidence · text > The Rainbow deposit hosts an Indicated Mineral Resource of 3.44 Mt grading 3.59% CuEq **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The Rainbow deposit hosts an Inferred Mineral Resource of 1.28 Mt grading 2.95% CuEq. Evidence · text > an Inferred Mineral Resource of 1.28 Mt grading 2.95% CuEq **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: The resource estimate is sourced from a technical report dated August 24, 2023, making it over two years old by the announcement date of October 2026. Evidence · text > Source: Kirkham Geosystems Ltd., "NI 43-101 Technical Report - Pine Bay Project - Flin Flon, Manitoba", dated August 24, 2023. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: The resource estimate notes explicitly state: "The Indicated and Inferred Mineral Resources use a cut-off grade of 1.3% CuEq." Evidence · text > The Indicated and Inferred Mineral Resources use a cut-off grade of 1.3% CuEq. ## Extracted facts Stored fact records: 11. Some facts used in scoring do not have a stored record. ## Resource Estimates (11) ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/visionary-receives-exploration-permits-for-its-high-grade-copper-and-gold-pine-b--94ed4833-16c6-4e77-8a5a-036050678082#fact-resource-facts-1) Pine Bay Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Pine Bay Project - Commodity: copper - Region: canada\_mb - Reported Region: Manitoba - Ticker: VCG.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:6da35ceefcf412c8bc7c - Deposit or zone: Rainbow #### Resource Data - Category: indicated - Tonnes: 3442000 - Grade: 3.14 - Grade Unit: % - Contained Metal: 238.3 - Contained Unit: mlb - Cutoff Grade: 1.3 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2023-08-24 #### Metal Equivalent - Metal Eq. Grade: 3.59 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-08-24T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: The Indicated Mineral Resource for copper at Rainbow shows high grades and substantial contained metal, providing a strong foundation for the project, though the estimate is historical. - Positive factor: High-grade copper in Indicated category - Positive factor: Significant contained metal \(238.3 Mlb Cu\) - Positive factor: NI 43-101 compliant estimate - Negative factor: Estimate is historical \(effective date August 2023\) Evidence · table > 3.14 Context: 3,442,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.2 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/visionary-receives-exploration-permits-for-its-high-grade-copper-and-gold-pine-b--94ed4833-16c6-4e77-8a5a-036050678082#fact-resource-facts-2) Pine Bay Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Pine Bay Project - Commodity: gold - Region: canada\_mb - Reported Region: Manitoba - Ticker: VCG.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:6da35ceefcf412c8bc7c - Deposit or zone: Rainbow #### Resource Data - Category: indicated - Tonnes: 3442000 - Grade: 0.34 - Grade Unit: g/t - Contained Metal: 37.6 - Contained Unit: koz - Cutoff Grade: 1.3 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2023-08-24 #### Metal Equivalent - Metal Eq. Grade: 3.59 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-08-24T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Gold contributes as a byproduct to the Indicated Mineral Resource at Rainbow, adding value to the polymetallic deposit, though the estimate is historical. - Positive factor: Gold as a byproduct in Indicated category - Positive factor: NI 43-101 compliant estimate - Negative factor: Estimate is historical \(effective date August 2023\) Evidence · table > 0.34 Context: 3,442,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.2 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/visionary-receives-exploration-permits-for-its-high-grade-copper-and-gold-pine-b--94ed4833-16c6-4e77-8a5a-036050678082#fact-resource-facts-3) Pine Bay Project · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Pine Bay Project - Commodity: zinc - Region: canada\_mb - Reported Region: Manitoba - Ticker: VCG.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:6da35ceefcf412c8bc7c - Deposit or zone: Rainbow #### Resource Data - Category: indicated - Tonnes: 3442000 - Grade: 0.75 - Grade Unit: % - Contained Metal: 56.9 - Contained Unit: mlb - Cutoff Grade: 1.3 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2023-08-24 #### Metal Equivalent - Metal Eq. Grade: 3.59 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-08-24T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Zinc contributes as a byproduct to the Indicated Mineral Resource at Rainbow, enhancing the polymetallic nature of the deposit, though the estimate is historical. - Positive factor: Zinc as a byproduct in Indicated category - Positive factor: NI 43-101 compliant estimate - Negative factor: Estimate is historical \(effective date August 2023\) Evidence · table > 0.75 Context: 3,442,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.2 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/visionary-receives-exploration-permits-for-its-high-grade-copper-and-gold-pine-b--94ed4833-16c6-4e77-8a5a-036050678082#fact-resource-facts-4) Pine Bay Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Pine Bay Project - Commodity: silver - Region: canada\_mb - Reported Region: Manitoba - Ticker: VCG.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:6da35ceefcf412c8bc7c - Deposit or zone: Rainbow #### Resource Data - Category: indicated - Tonnes: 3442000 - Grade: 6.26 - Grade Unit: g/t - Contained Metal: 692.8 - Contained Unit: koz - Cutoff Grade: 1.3 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2023-08-24 #### Metal Equivalent - Metal Eq. Grade: 3.59 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-08-24T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Silver contributes as a byproduct to the Indicated Mineral Resource at Rainbow, adding to the overall metal endowment, though the estimate is historical. - Positive factor: Silver as a byproduct in Indicated category - Positive factor: NI 43-101 compliant estimate - Negative factor: Estimate is historical \(effective date August 2023\) Evidence · table > 6.26 Context: 3,442,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.2 years before this release ### indicated [Link to this fact](https://atlas-staging.minestarters.com/news/visionary-receives-exploration-permits-for-its-high-grade-copper-and-gold-pine-b--94ed4833-16c6-4e77-8a5a-036050678082#fact-resource-facts-5) Pine Bay Project · lead Historical result Needs review: historical\_restatement #### Identity - Project: Pine Bay Project - Commodity: lead - Region: canada\_mb - Reported Region: Manitoba - Ticker: VCG.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:6da35ceefcf412c8bc7c - Deposit or zone: Rainbow #### Resource Data - Category: indicated - Tonnes: 3442000 - Grade: 0.03 - Grade Unit: % - Contained Metal: 2.3 - Contained Unit: mlb - Cutoff Grade: 1.3 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2023-08-24 #### Metal Equivalent - Metal Eq. Grade: 3.59 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-08-24T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Lead is present as a minor byproduct in the Indicated Mineral Resource at Rainbow, contributing to the polymetallic nature, though the estimate is historical. - Positive factor: Lead as a minor byproduct in Indicated category - Positive factor: NI 43-101 compliant estimate - Negative factor: Estimate is historical \(effective date August 2023\) Evidence · table > 0.03 Context: 3,442,000 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/visionary-receives-exploration-permits-for-its-high-grade-copper-and-gold-pine-b--94ed4833-16c6-4e77-8a5a-036050678082#fact-resource-facts-6) Pine Bay Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Pine Bay Project - Commodity: copper - Region: canada\_mb - Reported Region: Manitoba - Ticker: VCG.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:9598c79ddd84e69d91bc - Deposit or zone: Rainbow #### Resource Data - Category: inferred - Tonnes: 1282000 - Grade: 2.55 - Grade Unit: % - Contained Metal: 72.1 - Contained Unit: mlb - Cutoff Grade: 1.3 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2023-08-24 #### Metal Equivalent - Metal Eq. Grade: 2.95 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-08-24T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: The Inferred Mineral Resource for copper at Rainbow shows high grades, indicating potential for future conversion, but carries lower confidence as it is historical and in the Inferred category. - Positive factor: High-grade copper in Inferred category - Positive factor: NI 43-101 compliant estimate - Negative factor: Estimate is historical \(effective date August 2023\) - Negative factor: Inferred category has lower geological confidence Evidence · table > 2.55 Context: 1,282,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/visionary-receives-exploration-permits-for-its-high-grade-copper-and-gold-pine-b--94ed4833-16c6-4e77-8a5a-036050678082#fact-resource-facts-7) Pine Bay Project · gold Historical result Needs review: historical\_restatement #### Identity - Project: Pine Bay Project - Commodity: gold - Region: canada\_mb - Reported Region: Manitoba - Ticker: VCG.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:9598c79ddd84e69d91bc - Deposit or zone: Rainbow #### Resource Data - Category: inferred - Tonnes: 1282000 - Grade: 0.27 - Grade Unit: g/t - Contained Metal: 11.1 - Contained Unit: koz - Cutoff Grade: 1.3 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2023-08-24 #### Metal Equivalent - Metal Eq. Grade: 2.95 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-08-24T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Gold contributes as a byproduct to the Inferred Mineral Resource at Rainbow, adding to the polymetallic potential, but is historical and in the lower confidence Inferred category. - Positive factor: Gold as a byproduct in Inferred category - Positive factor: NI 43-101 compliant estimate - Negative factor: Estimate is historical \(effective date August 2023\) - Negative factor: Inferred category has lower geological confidence Evidence · table > 0.27 Context: 1,282,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/visionary-receives-exploration-permits-for-its-high-grade-copper-and-gold-pine-b--94ed4833-16c6-4e77-8a5a-036050678082#fact-resource-facts-8) Pine Bay Project · zinc Historical result Needs review: historical\_restatement #### Identity - Project: Pine Bay Project - Commodity: zinc - Region: canada\_mb - Reported Region: Manitoba - Ticker: VCG.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:9598c79ddd84e69d91bc - Deposit or zone: Rainbow #### Resource Data - Category: inferred - Tonnes: 1282000 - Grade: 0.69 - Grade Unit: % - Contained Metal: 19.5 - Contained Unit: mlb - Cutoff Grade: 1.3 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2023-08-24 #### Metal Equivalent - Metal Eq. Grade: 2.95 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-08-24T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Zinc contributes as a byproduct to the Inferred Mineral Resource at Rainbow, enhancing the polymetallic nature, but is historical and in the lower confidence Inferred category. - Positive factor: Zinc as a byproduct in Inferred category - Positive factor: NI 43-101 compliant estimate - Negative factor: Estimate is historical \(effective date August 2023\) - Negative factor: Inferred category has lower geological confidence Evidence · table > 0.69 Context: 1,282,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/visionary-receives-exploration-permits-for-its-high-grade-copper-and-gold-pine-b--94ed4833-16c6-4e77-8a5a-036050678082#fact-resource-facts-9) Pine Bay Project · silver Historical result Needs review: historical\_restatement #### Identity - Project: Pine Bay Project - Commodity: silver - Region: canada\_mb - Reported Region: Manitoba - Ticker: VCG.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:9598c79ddd84e69d91bc - Deposit or zone: Rainbow #### Resource Data - Category: inferred - Tonnes: 1282000 - Grade: 5.39 - Grade Unit: g/t - Contained Metal: 222.2 - Contained Unit: koz - Cutoff Grade: 1.3 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2023-08-24 #### Metal Equivalent - Metal Eq. Grade: 2.95 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-08-24T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Silver contributes as a byproduct to the Inferred Mineral Resource at Rainbow, adding to the overall metal endowment, but is historical and in the lower confidence Inferred category. - Positive factor: Silver as a byproduct in Inferred category - Positive factor: NI 43-101 compliant estimate - Negative factor: Estimate is historical \(effective date August 2023\) - Negative factor: Inferred category has lower geological confidence Evidence · table > 5.39 Context: 1,282,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/visionary-receives-exploration-permits-for-its-high-grade-copper-and-gold-pine-b--94ed4833-16c6-4e77-8a5a-036050678082#fact-resource-facts-10) Pine Bay Project · lead Historical result Needs review: historical\_restatement #### Identity - Project: Pine Bay Project - Commodity: lead - Region: canada\_mb - Reported Region: Manitoba - Ticker: VCG.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:9598c79ddd84e69d91bc - Deposit or zone: Rainbow #### Resource Data - Category: inferred - Tonnes: 1282000 - Grade: 0.03 - Grade Unit: % - Contained Metal: 0.8 - Contained Unit: mlb - Cutoff Grade: 1.3 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2023-08-24 #### Metal Equivalent - Metal Eq. Grade: 2.95 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-08-24T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: Lead is present as a minor byproduct in the Inferred Mineral Resource at Rainbow, contributing to the polymetallic nature, but is historical and in the lower confidence Inferred category. - Positive factor: Lead as a minor byproduct in Inferred category - Positive factor: NI 43-101 compliant estimate - Negative factor: Estimate is historical \(effective date August 2023\) - Negative factor: Inferred category has lower geological confidence Evidence · table > 0.03 Context: 1,282,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.2 years before this release ### inferred [Link to this fact](https://atlas-staging.minestarters.com/news/visionary-receives-exploration-permits-for-its-high-grade-copper-and-gold-pine-b--94ed4833-16c6-4e77-8a5a-036050678082#fact-resource-facts-11) Pine Bay Project · copper Historical result Needs review: historical\_restatement #### Identity - Project: Pine Bay Project - Commodity: copper - Region: canada\_mb - Reported Region: Manitoba - Ticker: VCG.V #### Resource scope - Estimate type: resource - Reporting standards: ni\_43\_101 - Resource group id: resource:46e3021dd4c7026a8ffe - Deposit or zone: Pine Bay #### Resource Data - Category: inferred - Tonnes: 1006000 - Grade: 2.62 - Grade Unit: % - Contained Metal: 58.1 - Contained Unit: mlb - Cutoff Grade: 1.3 - Cutoff Unit: % CuEq #### Prior Estimate - Resource Date: 2023-08-24 #### Metal Equivalent - Metal Eq. Grade: 2.62 - Metal Eq. Unit: % CuEq - Assumptions Disclosed: Yes #### Review - Needs Review: Yes - Review Reason: historical\_restatement - Historical: Yes - Historical Source Date: 2023-08-24T00:00:00.000Z #### Dates - Event date: 2026-10-20T00:00:00.000Z Reasoning: The Inferred Mineral Resource for copper at Pine Bay shows high grades, indicating potential, but carries lower confidence as it is historical and in the Inferred category. - Positive factor: High-grade copper in Inferred category - Positive factor: NI 43-101 compliant estimate - Negative factor: Estimate is historical \(effective date August 2023\) - Negative factor: Inferred category has lower geological confidence Evidence · table > 2.62 Context: 1,006,000 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports **PFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component. Why it applies: the release names the study this estimate supports **DFS-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence. Why it applies: the release names the study this estimate supports **Stale Estimate** Polarity: negative Definition: Effective date is >2 years old — data currency concern, may not reflect current geological understanding. Why it applies: effective date is 3.2 years before this release ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.