Viridian Metals Kraken Assays Confirm Big Potential
Contributed Opinion

Important Disclosures:

1. Bob Moriarty: I, or members of my immediate household or family, own securities of: Viridian Metals Inc. My company has a financial relationship with: Viridian Metals Inc. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.
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I've watched the metals markets closely and see that a full moon on October 26, 2026, could either speed up the current decline or trigger a quick reversal. The Daily Sentiment Indicator sits at 20 for gold and 16 for silver, so it has not yet signaled a bottom, while a 13.5-month cycle low is expected between December and January. That leaves the sector either heading lower or turning higher from here.

A month ago, I laid out the plans for Viridian Metals Inc. (VRDN:CSE; VIRMF:OTCQB) on its Kraken property, and those first assays have now arrived, showing strong results that support the original thesis. The company controls 185 square kilometers in Labrador with mineralization spread across a 64-kilometer chain of near-surface pods. Two drills are active through the end of October, targeting 43 separate pods, and 27 shallow holes have already been completed in 2026, with more results expected every two to three weeks.

Management had modeled an average mineralized thickness near 8.6 meters, yet the actual intercepts are coming in at 30 to 50 meters, which immediately points to a larger system than first projected. The style is not hundreds of meters of low-grade material but rather shallow high-grade pods comparable in mineralogy to Voisey Bay, though on a broader scale.

In hole VKS26 062, the company intersected 40.8 meters grading 0.63 percent CuEq, including 15.05 meters at 1.09 percent CuEq, while hole VSK26 060 returned 23.0 meters of 0.44 percent CuEq, including 10.85 meters at 0.72 percent CuEq. Both holes also showed 1.5 percent CuEq right at the bedrock contact, and overall grades came in roughly three times higher than anticipated for the same thickness.

The broader Kraken target hosts more than 150 conductors, all less than 150 meters deep. The current program is focused on the Kraken Main area covering about 5 square kilometers, while the larger exploration target of 41 million to 61 million tonnes at 0.35 to 0.52 percent CuEq was based on only a 2 square kilometer portion.

Earlier work by Teck Resources Ltd. (TECK:TSX; TECK:NYSE) returned 18 meters of 0.43 percent CuEq, and Kennecott intersected 0.5 percent CuEq over 8 meters, though not all historic core was assayed. With copper prices at record levels, the economics now look far more attractive than in prior years when the combined copper-nickel price did not support development.

One factor that stands out is the unusually tight share structure. Management and directors control about 62 percent of the stock, institutions hold another 18 percent, and only 20 percent remains available to retail buyers, making accumulation difficult without planning ahead. I expect a meaningful re-rating of the share price as the steady flow of assays continues to validate the scale and grade of the pods.