DR_Money01
3 years ago
VLMGF: Viscount Mining Receives Results from Phase 3 Field Survey, Silver Cliff Colorado
Vancouver, British Columbia--(Newsfile Corp. - November 3, 2021) - Viscount Mining Corp. (TSXV: VML) (OTCQX: VLMGF) ("Viscount or "the Company") is pleased to announce it has received results from its third phase of the rock chip program at their Silver Cliff property in Colorado.
Highlighted results include:
28 samples assaying over 100 g/t silver.
18 samples assaying over 200 g/t silver.
4 samples assaying over 550 g/t silver including 1330 g/t and 737 g/t in the northern Kate area and 692 g/t and 560 g/t in the south Passiflora area.
Phase 3 of Viscount Mining's Silver Cliff drill program consisting of 13 holes over 881 meters has recently concluded and all of the core samples have been shipped and are currently being assayed. As a supplemental part of Viscount's phase 3 drilling program, 50 surface rock chip samples were collected around the Kate Deposit, Passiflora and surrounding areas. Most of these samples were gathered from century-year-old, shallow mining pits which are found scattered throughout the Silver Cliff region. A map depicting silver concentration of each of these 124 surface samples including 74 local rock chip samples collected back in 2013 is shown below.
Cannot view this image? Visit: https://orders.newsfilecorp.com/files/2736/101761_586ba9a354d28bb3_002.jpg
Silver Concentration and Locations
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2736/101761_586ba9a354d28bb3_002full.jpg
Twenty eight (28) of these rock chip samples collected at the surface tested over 100 g/t silver, with the highest testing sample assayed 1330 g/t silver. The presence of such high-grade silver deposits being revealed at the surface by shallow, abandoned pits, shows high promise for an eventual open pit mine. Many of these higher testing samples were collected from two locations: the southwest Passiflora and the northern area of the Kate Deposit and extension.
In the southwest Passiflora area, concentrations of silver in collected rock chip samples ranged from 122 G/T to 692 G/T. Though Viscount has done less extensive drilling in the Passiflora, most of the promising mineralization and assay values have come from holes drilled in this southwest region (DDH-20-05 and DDH-21-10). Two of the holes drilled during phase 3 were also located in this area and are currently being assayed. An internal report from CoCa Mines in 1983, estimated a potential resource of 40 million short tons, based on 14 drill holes (not NI 43-101 compliant), with the best intercept reporting to be 256 g/t silver and 1.4 g/t gold. Viscount drilled four holes in the Passiflora in 2020/21 to depths greater than 193 m that showed anomalous silver throughout all, some anomalous gold as well as strong silica and clay alteration and pyritization over most of the holes. Duval Mining geologists had identified a quartz monzonite at shallow depth in the vicinity of the Passiflora mine. Quartz monzonite is a rock that is also commonly associated with porphyry ore bodies. The additional holes at the Passiflora are aimed at identifying this structure.
In the northern area of the Kate Deposit, 15 surface rock chip samples assayed between 71 and 1330 g/t silver, well above the current economic cut-off grade. Seven (7) of these high-grade rock chip samples, including the two highest testing (737 and 1330 G/T), on land outside of the current extent of the ore body as defined by Dr. Gilles Arseneau in 2018. The report titled Mineral Resource Estimate for the Silver Cliff Property, Custer County, Colorado, USA dated April 15, 2018 was prepared by Dr. Gilles Arseneau, Ph.D., P. Geo of Arseneau Consulting Services ("ACS") in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards incorporated by reference in National Instrument 43-101 ("NI 43-101") for its Silver Cliff property in Colorado.
These results support a possible expansion of the ore body, specifically near the surface, both to the West and Northeast. These are areas that were drilled during the third phase. As we await the core results, this collection of surface rock chip results gives us some insight into the silver resource expansion as defined by Dr. Gilles Arseneau in 2018 and for the Phase 4 drill program preparation.
Jacob Hooker, Exploration Manager commented: "The completion of Phase 3 drilling was designed to test outside the boundaries of the Kate Deposit. Upon receipt of the drill results in correlation with the soil samples, the final phase 4 of drilling will be designed to further the understanding of the Kate deposit. The goal of expanding our NI 43-101 resource is meeting and surpassing company expectations."
Tenneco Minerals leased the Kate property in 1987. They had previous drill data available to them, which was the results from 11,930 meters in 249 drill holes that had been done since 1968.The following two years, Tenneco drilled an additional 143 holes totaling 7,949 meters. Based on the accumulated data and feasibility study, Tenneco Minerals made the decision with silver at $5.00 USD an ounce to construct at that time a $35,000,000 USD milling operation for the extraction of the silver reserves at Silver Cliff. Shortly thereafter Tenneco's parent company was sold, and the planned milling operation was abandoned.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Harald Hoegberg PG, an independent consulting geologist who is a "Qualified Person" (QP) as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About Viscount Mining (TSXV: VML) (OTCQX: VLMGF)
Viscount Mining is a project generator and an exploration company with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.
The Silver Cliff property in Colorado lies within the historic Hardscrabble Silver District in the Wet Mountain Valley, Custer County, south-central Colorado. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road. The property consists of 96 lode claims where high grade silver, gold and base metal production came from numerous mines during the period 1878 to the early 1900's. The property underwent substantial exploration between 1967 and 1984.
The property is interpreted to encompass a portion of a large caldera and highly altered sequence of tertiary rhyolitic flows and fragmental units which offers potential to host deposits with both precious and base metals. This has been demonstrated in the mineralization historically extracted from the numerous underground and surface mining operations. Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study on which basis it was planned to bring the property to production. The plan was abandoned following a takeover by another company.
The Cherry Creek exploration property is in an area commonly known as the Cherry Creek Mining District, located approximately 50 miles north of the town of Ely, White Pine County, Nevada. Cherry Creek consists of 578 unpatented and 17 patented claims as well as mill rights. Cherry Creek includes more than 20 past producing mines. In January 2021, Viscount entered into an exploration earn - in agreement with a wholly owned subsidiary of Centerra Gold Inc. Centerra is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia and other markets worldwide.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim MacKenzie"
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Email: info@viscountmining.com
FORWARD-LOOKING STATEMENTS
This news release includes certain statements that may be deemed "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Viscount Mining's operations, exploration and development plans, expansion plans, estimates, expectations, forecasts, objectives, predictions and projections of the future. Specifically, this news release contains forward-looking statements with respect to the Offering, the receipt of required approvals, the timing of thereof and the amount and use of proceeds therefrom. Generally, forward-looking statements can be identified by the forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "projects", "intends", "anticipates", or "does not anticipate", or "believes", or "variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Viscount Mining to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and development and operation of Viscount Mining's projects, the actual results of current exploration, development activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future precious metals prices, as well as those factors discussed in the sections relating to risk factors of our business filed in Viscount Mining's required securities filings on SEDAR. Although Viscount Mining has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Viscount Mining does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. 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.
DR_Money01
4 years ago
VLMGF:Viscount Mining Drills 99.6 g/t Silver over 21.6 Meters at Silver Cliff Colorado
Newsfile Corp.
Wed, January 13, 2021, 7:00 AM PST
Vancouver, British Columbia--(Newsfile Corp. - January 13, 2021) - Viscount Mining Corp. (TSXV: VML) (OTCQB: VLMGF) ("Viscount Mining") is pleased to announce the results from our first of 10 holes of the 2020 drill campaign at our Silver Cliff project in Colorado. Hole DDH-20-01 had the purpose of seeing if ore grade mineralization (above 35 g/t silver according to Viscounts 2018 NI 43-101) was continuous from hole K16-05 (390.9 g/t silver over 13.7 meters) in the south, to hole K16-01 (837.4 g/t silver over 15.2 meters), about 81 meters to the north-east.
The new hole, DDH-20-01 assayed 99.6 g/t silver over 21.6 meters from 19.5 meters to 41.1 meters. Strong showings were encountered of 137.9 g/t silver from 19.5 meters to 25.3 meters and 202.7g/t silver, from 35.3 meters to 41.4 meters. This seems to indicate that there may be continuity of the "Kate East Zone". An additional three holes were drilled in this zone, and we are awaiting those results.
Figure 1
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2736/71882_e0b362cc849189cb_002full.jpg
The core from the 10 holes has been submitted to the lab for assays and will be news released when received.
The next phase of the exploration program is planned to commence in early this year. Plans include conducting additional drilling, geophysics, field mapping and sampling in areas that have not received the full attention they deserved during the historic exploration.
Viscount's 2020/2021 drill campaign has three objectives. They are to expand the previously defined Kate resource (the "KSR") with the objective of adding to the ACS resource estimate of the KSR/Kate deposit. Also, to further outline the Kate East high-grade zone as well as moving forward on the evaluation of the resource potential of several other promising targets.
Quality Assurance/Quality Control ("QA/QC") Measures, Chain of Custody:
All the drilling to date has been core. The company has implemented a rigorous quality assurance/quality control program at the Silver Cliff project. Core is retrieved from then drill site to a locked storage facility, where it is logged and then cut by independent geologists. Half of the core is bagged, and standards, blanks and duplicates are frequently inserted in to the sample stream. These are then boxed and then shipped via UPS to Skyline Labs in Tucson, Arizona. Pulps and rejects will then be retrieved, and stored with the split core at our locked facility.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Harald Hoegberg PG, an independent consulting geologist who is a "Qualified Person" (QP) as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About Viscount Mining (TSXV: VML) (OTCQB: VLMGF)
Viscount Mining is a project generator and an exploration company with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.
The Silver Cliff property in Colorado lies within the historic Hardscrabble Silver District in the Wet Mountain Valley, Custer County, south-central Colorado. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road. The property consists of 2,319.48 hectares where high-grade silver, gold and base metal production came from numerous mines during the period 1878 to the early 1900's. The property underwent substantial exploration between 1967 and 1984.
The property is interpreted to encompass a portion of a large caldera and highly altered sequence of tertiary rhyolitic flows and fragmental units which offers potential to host deposits with both precious and base metals. This has been demonstrated in the mineralization historically extracted from the numerous underground and surface mining operations. Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study on which basis it was planned to bring the property to production. The plan was abandoned following a takeover by another company.
The Cherry Creek exploration property is in an area commonly known as the Cherry Creek Mining District, located approximately 50 miles north of the town of Ely, White Pine County, Nevada. Cherry Creek consists of 320 unpatented and patented claims as well as mill rights and is comprised of more than 2,658 hectares. Cherry Creek includes more than 20 past producing mines.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim MacKenzie"
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Email: info@viscountmining.com
FORWARD-LOOKING STATEMENTS
This news release includes certain statements that may be deemed "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Viscount Mining's operations, exploration and development plans, expansion plans, estimates, expectations, forecasts, objectives, predictions and projections of the future. Specifically, this news release contains forward-looking statements with respect to the Offering, the receipt of required approvals, the timing of thereof and the amount and use of proceeds therefrom. Generally, forward-looking statements can be identified by the forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "projects", "intends", "anticipates", or "does not anticipate", or "believes", or "variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Viscount Mining to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and development and operation of Viscount Mining's projects, the actual results of current exploration, development activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future precious metals prices, as well as those factors discussed in the sections relating to risk factors of our business filed in Viscount Mining's required securities filings on SEDAR. Although Viscount Mining has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Viscount Mining does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. 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.
DR_Money01
4 years ago
VLMGF: Viscount Mining Completes Phase 1 Drilling At
Silver Cliff Colorado
Viscount Mining Completes Phase 1 Drilling at Silver Cliff Colorado
Vancouver, British Columbia--(Newsfile Corp. - November 12, 2020) - Viscount Mining Corp. (TSXV: VML) (OTCQB: VLMGF) ("Viscount Mining") is pleased to announce it has completed the first phase on November 9th of a three phase drill program at its Silver Cliff property in Colorado.
A total of ten NQ core holes were drilled for a combined length of 2,379 feet (729.8 meters).
Four holes were drilled to further define the Kate East high grade zone. Hole DDH-20-01 drilled in this zone showed some spectacular acanthite mineralization. Acanthite is a common silver mineral in moderately low-temperature hydrothermal veins and in zones of supergene enrichment. Acanthite, a silver sulfide mineral (Ag2S) is the most important mineral of silver in the Kate mineral deposit.
Five of the holes were drilled to expand the resource defined in Viscount's NI 43-101 report by Dr. Gilles Arseneau of ACS in 2018.
Hole DDH-20-05 was drilled in the Passiflora target area. Moderate sulfidation and silcification was encountered at 40 feet (12.1 meters) and continued to 564 feet (179.9 meters). Here, a zone was encountered of marked increase in sulfidation and silicification. This was the target zone based on early historic drilling done in the 1980s. It persisted to about 610 feet (184.5 meters), which was longer than expected. Moderate pyrite was observed to the end of the bore. The core from the 10 holes has been submitted to the lab for assays and will be news released when received.
The next phase of the exploration program is planned to commence in early 2021. Plans include conducting additional drilling, geophysics, field mapping and sampling in areas that have not received the full attention they deserved during the historic exploration.
Viscount's 2020/2021 drill campaign has three objectives. They are to expand the previously defined Kate resource (the "KSR") with the objective of adding to the ACS resource estimate of the KSR/Kate deposit. Also, to further outline the South Kate high grade zone as well as moving forward on the evaluation of the resource potential of several other promising targets.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Harald Hoegberg PG, an independent consulting geologist who is a "Qualified Person" (QP) as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About Viscount Mining (TSXV: VML) (OTCQB: VLMGF)
Viscount Mining is a project generator and an exploration company with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.
The Silver Cliff property in Colorado lies within the historic Hardscrabble Silver District in the Wet Mountain Valley, Custer County, south-central Colorado. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road. The property consists of 2,319.48 hectares where high grade silver, gold and base metal production came from numerous mines during the period 1878 to the early 1900s. The property underwent substantial exploration between 1967 and 1984.
The property is interpreted to encompass a portion of a large caldera and highly altered sequence of tertiary rhyolitic flows and fragmental units which offers potential to host deposits with both precious and base metals. This has been demonstrated in the mineralization historically extracted from the numerous underground and surface mining operations. Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study on which basis it was planned to bring the property to production. The plan was abandoned following a takeover by another company.
The Cherry Creek exploration property is in an area commonly known as the Cherry Creek Mining District, located approximately 50 miles north of the town of Ely, White Pine County, Nevada. Cherry Creek consists of 320 unpatented and patented claims as well as mill rights and is comprised of more than 2,658 hectares. Cherry Creek includes more than 20 past producing mines.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim MacKenzie"
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Email: info@viscountmining.com
FORWARD-LOOKING STATEMENTS
This news release includes certain statements that may be deemed "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Viscount Mining's operations, exploration and development plans, expansion plans, estimates, expectations, forecasts, objectives, predictions and projections of the future. Specifically, this news release contains forward looking statements with respect to the Offering, the receipt of required approvals, the timing of thereof and the amount and use of proceeds therefrom. Generally, forward-looking statements can be identified by the forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "projects", "intends", "anticipates", or "does not anticipate", or "believes", or "variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Viscount Mining to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and development and operation of Viscount Mining's projects, the actual results of current exploration, development activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future precious metals prices, as well as those factors discussed in the sections relating to risk factors of our business filed in Viscount Mining's required securities filings on SEDAR. Although Viscount Mining has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Viscount Mining does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. 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.
DR_Money01
4 years ago
Viscount Mining Samples 1925 g/t Silver and 76g/t Gold and Adds Claims at Cherry Creek Property in Nevada
VANCOUVER, Canada –- October 20, 2020 Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or “the Company”) has expanded the claim block on their 100% controlled Cherry Creek Project in eastern White Pine County, Nevada. The company staked 24 unpatented lode claims in the southeast part of the project, adjacent to an area of prolific historic gold and silver mining. Precious metal mineralization in the area commonly occurs in quartz veins with several distinct orientations hosted by quartzite and interbedded phyllite. Review and reinterpretation of existing surface geochemical data identified three untested gold and silver exploration targets, including: New Century Mine East, Rattlesnake Canyon and Nitown.
The New Century Mine is a historic gold and silver producer on the east end of an east-west trending mineralized vein that includes the past-producing Exchequer Mine. Gold and silver ore in the New Century occurred in near-vertical quartz veins and breccia zones in a quartzite host rock. The East New Century Mine target occurs along a projected eastern extension of the New Century vein. The extension is defined by an east-striking quartz vein, with local large resistant outcrops of jasperoid and silicified quartz breccia that occur at intersections between the veins and north-striking high-angle faults. A sample of a brecciated quartz vein outcrop along the eastern extension contained a gold concentration of 1.69 g/t and 320 g/t Ag. Another sample taken approximately 600 meters to the east of the previous sample, contained 16.95 g/t Au and 1925 g/t Ag. This indicates that the extension could have a strike length on the order of 800 meters. Jasperoid breccia outcrops contained elevated gold (0.034 g/t) and silver concentrations (2.65 g/t), although were not extensively sampled.
Further east of the New Century Mine, samples from the dumps of two small prospects in the Rattlesnake Canyon area contained gold concentrations of 76 g/t and 7.5 g/t. The samples came from quartz veins that possibly strike to the north in quartzite. The 76 g/t sample represents the highest gold value in a rock-chip sample on the Cherry Creek project. Beyond local rock-chip sampling, little exploration or evaluation work has been done in this area.
The Nitown target occurs along a ridge with scattered workings and mining disturbance several hundred meters southeast of the Star Mine, the largest historic gold and silver mine on the property. The exploration target is defined by gold concentrations in soil samples. The gold in soils anomaly includes four soil samples of greater than 100 ppb Au, two of which are greater than 700 ppb Au. The samples occur in an elongated southeast trend that is approximately 800 meters long. Rock-chip sampling, additional geologic mapping, and possible trenching are warranted to evaluate this target.
Work plans are currently being formulated to evaluate these targets along with other known targets on the property.
QC and Analytical Procedures
The soil and rock chip analytical packages have been conducted by ALS Labs Limited, of Elko, Nevada. Soil samples were collected and analyzed by a 58 elements via ME-MS61 and AuAA-23, with over limit analyses for Au, Ag, Pb, Zn and Cu. Rock Chip samples were collected and analyzed by a 58 elements via ME-MS61 and AuAA-23, with over limit analyses for Au, Ag, Pb, Zn and Cu. Consult the ALS website for more information on the analytical packages being used on the Cherry Creek samples: http://www.alsglobal.com/Our-Services/Minerals/Geochemistry/Service-Schedule
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Harald Hoegberg PG, an independent consulting geologist who is a "Qualified Person" (QP) as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF)
Viscount Mining is a project generator and an exploration company with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.
The Silver Cliff property in Colorado lies within the historic Hardscrabble Silver District in the Wet Mountain Valley, Custer County, south-central Colorado. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road. The property consists of 2,319.48 hectares where high grade silver, gold and base metal production came from numerous mines during the period 1878 to the early 1900’s. The property underwent substantial exploration between 1967 and 1984.
The property is interpreted to encompass a portion of a large caldera and highly altered sequence of tertiary rhyolitic flows and fragmental units which offers potential to host deposits with both precious and base metals. This has been demonstrated in the mineralization historically extracted from the numerous underground and surface mining operations. Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study on which basis it was planned to bring the property to production. The plan was abandoned following a takeover by another company.
The Cherry Creek exploration property is in an area commonly known as the Cherry Creek Mining District, located approximately 50 miles north of the town of Ely, White Pine County, Nevada. Cherry Creek consists of 293 unpatented and patented claims as well as mill rights and is comprised of more than 2,442 hectares. Cherry Creek includes more than 20 past producing mines.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim MacKenzie”
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Email: info@viscountmining.com
FORWARD-LOOKING STATEMENTS
This news release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Viscount Mining’s operations, exploration and development plans, expansion plans, estimates, expectations, forecasts, objectives, predictions and projections of the future. Specifically, this news release contains forward looking statements with respect to the Offering, the receipt of required approvals, the timing of thereof and the amount and use of proceeds therefrom. Generally, forward-looking statements can be identified by the forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “projects”, “intends”, “anticipates”, or “does not anticipate”, or “believes”, or “variations of such words and phrases or state that certain actions, events or results “may”, “can”, “could”, “would”, “might”, or “will” be taken”, “occur” or “be achieved”. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Viscount Mining to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and development and operation of Viscount Mining’s projects, the actual results of current exploration, development activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future precious metals prices, as well as those factors discussed in the sections relating to risk factors of our business filed in Viscount Mining’s required securities filings on SEDAR. Although Viscount Mining has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Viscount Mining does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. 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.
DR_Money01
4 years ago
VLMGF: Viscount Mining Commences Drilling Silver Cliff Colorado
Vancouver, British Columbia--(Newsfile Corp. - October 14, 2020) - Viscount Mining Corp. (TSXV: VML) (OTCQB: VLMGF) ("Viscount Mining") is pleased to announce it has commenced the first phase of a three phase drill program at its Silver Cliff property in Colorado.
Viscount's 2020 drill campaign has three objectives. They are to expand the previously defined Kate resource (the "KSR"). Also to further outline the South Kate high grade zone and to test new targets. Five of the planned holes are East, North and West of the resource defined by Dr. Gilles Arseneau in his 2018 NI 43-101 report. Four drill holes are to start to define the south Kate high grade zone. If this is successful, it will potentially improve the grade of the KSR
Many of the historic holes had been drilled for Tenneco Minerals at the KSR between 1987 and 1990, following which the company completed a feasibility study for open pit mining of silver and announced plans to construct a $35,000,000 milling operation at Silver Cliff. Shortly thereafter, the parent company, Tenneco was sold and the new owners decided to divest their mineral interests and the decision was reversed in 1991.
Viscounts 2016 and 2017 drill campaigns was to confirm historic drilling in the KSR. This was necessary, since the core and RC chips from the previous drilling had been lost, and only incomplete assay results are known. Based on the data collected by Viscount, and the selected historic drilling data, Dr. Gilles Arseneau estimated that the Kate deposit contained 2,064,000 tonnes of Indicated Mineral Resource averaging 84 g/t of silver for 5,560,000 ounces of silver and 3,172,000 tonnes of Inferred Mineral Resource averaging 70 g/t of silver for 7,143,900 ounces of silver.
Hole ID Length (m) Grade (gpt silver)
DDH-73-2 13.3 2,102.7
89-26 5.92 181.1
89-27 18.2 218.0
89-28 5 654.7
88-47 7.6 160.2
K16-01 6.1 1778.0
K16-03 9.15 233.0
In the above table, all but K16-01 and K16-03 are from historic data. The Kate high grade zone is 82 meters in strike length, and open to the north east, and potentially to the north. The historical data in the summary table used a 2 opt cut-off grade and total depth of the holes are not known.
Two holes will test new targets. One of the holes in the Kate high grade zone will be drilled past the high grade to test the hypothesis that a second mineralized zone exists at depth. The other drill hole will test the Passiflora target. Historic drilling has showed significant silver and gold intercepts. An internal report from CoCa Mines in 1983, estimated a 40 million ton resource, but this is not NI 43 101 compliant. The historic data reported that 14 holes were drilled in the Passiflora area with the best silver grade being 256 gpt, and best gold 1.4 gpt.
Viscount will be continuing to drill with the objective of adding to the ACS resource estimate of the KSR/Kate deposit, as well as moving forward on the evaluation of resource potential of several other promising targets.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Harald Hoegberg PG, an independent consulting geologist who is a "Qualified Person" (QP) as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About Viscount Mining (TSXV: VML) (OTCQB: VLMGF)
Viscount Mining is a project generator and an exploration company with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.
The Silver Cliff property in Colorado lies within the historic Hardscrabble Silver District in the Wet Mountain Valley, Custer County, south-central Colorado. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road. The property consists of 2,319.48 hectares where high grade silver, gold and base metal production came from numerous mines during the period 1878 to the early 1900's. The property underwent substantial exploration between 1967 and 1984.
The property is interpreted to encompass a portion of a large caldera and highly altered sequence of tertiary rhyolitic flows and fragmental units which offers potential to host deposits with both precious and base metals. This has been demonstrated in the mineralization historically extracted from the numerous underground and surface mining operations. Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study on which basis it was planned to bring the property to production. The plan was abandoned following a takeover by another company.
The Cherry Creek exploration property is in an area commonly known as the Cherry Creek Mining District, located approximately 50 miles north of the town of Ely, White Pine County, Nevada. Cherry Creek consists of 293 unpatented and patented claims as well as mill rights and is comprised of more than 2,442 hectares. Cherry Creek includes more than 20 past producing mines.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim MacKenzie"
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Email: info@viscountmining.com
FORWARD-LOOKING STATEMENTS
This news release includes certain statements that may be deemed "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Viscount Mining's operations, exploration and development plans, expansion plans, estimates, expectations, forecasts, objectives, predictions and projections of the future. Specifically, this news release contains forward looking statements with respect to the Offering, the receipt of required approvals, the timing of thereof and the amount and use of proceeds therefrom. Generally, forward-looking statements can be identified by the forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "projects", "intends", "anticipates", or "does not anticipate", or "believes", or "variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Viscount Mining to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and development and operation of Viscount Mining's projects, the actual results of current exploration, development activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future precious metals prices, as well as those factors discussed in the sections relating to risk factors of our business filed in Viscount Mining's required securities filings on SEDAR. Although Viscount Mining has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Viscount Mining does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. 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.
DR_Money01
4 years ago
VLMGF: Viscount Mining Announces Closing of Over Subscribed Non - Brokered Private Placement
VANCOUVER, British Columbia, Jul 29, 2020 (GLOBE NEWSWIRE via COMTEX) -- VANCOUVER, British Columbia, July 29, 2020 (GLOBE NEWSWIRE) -- Viscount Mining Corp. (TSX-V: VML) (OTCQB:VLMGF) ("Viscount Mining") is pleased to announce it has closed its non-brokered private placement (the "Private Placement") with the assistance of IBK Capital Corp announced by news release dated July 23, 2020. The private placement was originally announced for total gross proceeds of up to $4,000,000 however Viscount filed a price reservation form to increase the size of the Private Placement to total gross proceeds of $5,000,000 with and as sought approval for an over-allotment of 15% for a total of $5,750,000.
The closing comprises 23,958,332 units of the Company (each a "Unit") at a price of $0.24 per Unit. Each Unit consists of one common share of the Company (a "Share") and one transferrable Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Share at a price of $0.32 for term of 2 years following closing, being July 29, 2022 (the "ExpiryDate").
Net proceeds from the Offering, are expected to be used for the exploration and development of the Viscount Mining mineral property interests and ongoing working capital requirements.
In connection with the closing the Company will pay cash commissions of $343,610 and issue 1,426,964 finder's warrants pursuant to and in accordance with applicable securities laws and Exchange policy. The finder's warrants have the same terms as the Warrants.
The transaction constituted a related party transaction within the meaning of Multilateral Instrument 61-101 ("MI 61-101") as a policy of the TSX Venture Exchange, there were directors and insiders of the Company that participated and together subscribed for an aggregate of 1,096,958 Units pursuant to the Offering. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Offering by the insider does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101.
The Offering is subject to TSX Venture Exchange approval. There will be a hold period of four months and one day on all securities issued under this financing.
Viscount is in the final planning stages of preparing for a drill program beginning in August at Silver Cliff, Colorado, where we have an open pit resource which we expect to expand.
The Silver Cliff project consists of 96 contiguous patented and unpatented lode claims encompassing approximately 900 hectares in the Hardscrabble Silver District, Custer County, south-central Colorado. The project lies immediately north of the town of Silver Cliff and Westcliffe and is 50 kilometers south of Canon City, 88 kilometers west-southwest of Pueblo and 225 kilometers south of Denver.
The Kate Silver Resource (the "KSR") has been extensively drilled since the 1960's, and is one of four known historic silver deposits on the Silver Cliff property. The KSR underlies approximately 36 hectares or 4% of the 900 hectares at Silver Cliff which Viscount controls.
The initial KSR silver resource estimate for Viscount was prepared in April 2018 by Gilles Arseneau, Ph.D., P. Geo., of Arseneau Consulting Services ("ACS") in accordance with CIM standards incorporated by reference in National Instrument 43-101 ("NI 43-101") using results from 19 cored HQ holes drilled in two phases in 2016 and 2017 plus results from historic holes verified by the 2016-17 programs as assessed by ACS.
Many of the historic holes had been drilled for Tenneco Minerals at the KSR between 1987 and 1990, following which the company completed a feasibility study for open pit mining of silver and announced plans to construct a $35,000,000 milling operation at Silver Cliff. Shortly thereafter, the parent company, Tenneco was sold and the new owners decided to divest their mineral interests and the decision was reversed in 1991.
Of Viscount's two drilling campaigns on the KSR/Kate deposit, nine holes totalling 455.2 metres were drilled in 2016 and ten additional holes totalling 912.1 metres were drilled in October of 2017. The drilling programs were primarily aimed at verifying the historical drill results. The best intersections from the 2016 and 2017 drilling according to ACS are:
Hole # From (m) To (m) Interval (m) Ag (g/t)
K16-01 Including Including 18.29 18.29 24.38 32.00 24.38 28.04 13.71 6.09 3.66 924.0 1,768.0 427.0
K16-03 Including 17.37 24.99 34.14 34.14 16.76 9.14 141.5 241.5
K16-04 Including 18.59 27.74 36.88 35.36 18.29 7.62 204.0 380.0
K16-05 including 19.81 25.91 33.53 32.00 13.72 6.09 390.6 762.0
K16-08 Including 32.00 39.62 52.73 50.29 20.73 10.67 230.0 403.0
K17-02 including 1.50 12.00 34.50 30.00 33.00 18.00 93.0 120.5
K17-04 Including 18.00 22.50 39.00 34.50 21.00 12.00 121.7 180.8
K17-05 including 9.50 11.00 24.50 18.50 15.00 7.50 279.6 477.0
Effective April 15 2018, ACS estimated that the Kate deposit contained 2,064,000 tonnes of Indicated Mineral Resource averaging 84 g/t of silver for 5,560,000 ounces of silver and 3,172,000 tonnes of Inferred Mineral Resource averaging 70 g/t of silver for 7,143,900 ounces of silver.
classification tonnes grade Ag (g/t) ounces silver
Indicated 2,064,000 84 5,560,900
Inferred 3,172,000 70 7,143,900
(1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
(2) The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
(3) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
(4) The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
Mineral Resources were estimated by ordinary kriging using Geovia GEMs Version 6.8.1 modelling software into 10 by 10 by 5 m blocks. All mineralized blocks were assigned a 2.36 t/m3bulk density. ACS considers that blocks estimated during pass one and from at least 4 drill holes could be assigned to the Indicated category.
Viscount will be continuing to drill with the objective of adding to the ACS resource estimate of the KSR/Kate deposit as well as moving forward on the evaluation of resource potential on 3 other areas of historic deposits at Silver Cliff.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Harald Hoegberg PG, an independent consulting geologist who is a "Qualified Person" (QP) as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF)
Viscount Mining is a project generator and an exploration company with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.
The Silver Cliff property in Colorado lies within the historic Hardscrabble Silver District in the Wet Mountain Valley, Custer County, south-central Colorado. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road. The property consists of 2,319.48 hectares where high grade silver, gold and base metal production came from numerous mines during the period 1878 to the early 1900's. The property underwent substantial exploration between 1967 and 1984.
The property is interpreted to encompass a portion of a large caldera and highly altered sequence of tertiary rhyolitic flows and fragmental units which offers potential to host deposits with both precious and base metals. This has been demonstrated in the mineralization historically extracted from the numerous underground and surface mining operations. Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study on which basis it was planned to bring the property to production. The plan was abandoned following a takeover by another company.
The Cherry Creek exploration property is in an area commonly known as the Cherry Creek Mining District, located approximately 50 miles north of the town of Ely, White Pine County, Nevada. Cherry Creek consists of 293 unpatented and patented claims as well as mill rights and is comprised of more than 2,442 hectares. Cherry Creek includes more than 20 past producing mines.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim MacKenzie"
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Email: info@viscountmining.com
FORWARD-LOOKING STATEMENTS
This news release includes certain statements that may be deemed "forward-looking statements" within the meaning of applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to Viscount Mining's operations, exploration and development plans, expansion plans, estimates, expectations, forecasts, objectives, predictions and projections of the future. Specifically, this news release contains forward looking statements with respect to the Offering, the receipt of required approvals, the timing of thereof and the amount and use of proceeds therefrom. Generally, forward-looking statements can be identified by the forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "projects", "intends", "anticipates", or "does not anticipate", or "believes", or "variations of such words and phrases or state that certain actions, events or results "may", "can", "could", "would", "might", or "will" be taken", "occur" or "be achieved". Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Viscount Mining to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the exploration and development and operation of Viscount Mining's projects, the actual results of current exploration, development activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future precious metals prices, as well as those factors discussed in the sections relating to risk factors of our business filed in Viscount Mining's required securities filings on SEDAR. Although Viscount Mining has attempted to identify important factors that could cause results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended.
There can be no assurance that any forward-looking statements will prove accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Viscount Mining does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. 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.
DR_Money01
4 years ago
VLMGF: Viscount Mining Arranges $4-Million Financing
Viscount Mining Corp
Symbol VML
Shares Issued 54,802,129
Close 2020-07-22 C$ 0.355
Recent Sedar Documents
View Original Document
Viscount Mining arranges $4-million financing
2020-07-23 08:57 ET - News Release
Mr. Jim MacKenzie reports
VISCOUNT MINING CORPORATE UPDATE
Viscount Mining Corp. has arranged a non-brokered private placement with the assistance of IBK Capital Corp. for the sale of up to 16,666,667 units of Viscount Mining at a price of 24 cents per unit for gross proceeds of up to $4-million. Each unit will consist of one common share and one common share purchase warrant, with each warrant exercisable to acquire one additional share at a price of 32 cents per warrant share for a period of two years following the closing date of the offering.
Net proceeds from the offering are expected to be used for the exploration and development of the Viscount Mining mineral property interests and continuing working capital requirements.
The final closing expected to occur on or before Tuesday, July 28, 2020. Completion of the offering is subject to certain conditions, and receipt of all necessary regulatory approvals, including TSX Venture Exchange approval. All securities issued pursuant to the offering will be subject to a four-month hold period in accordance with applicable Canadian securities laws. The company will be paying a finder's fee or commission on a portion of the private placement.
Viscount is in the final planning stages of preparing for a drill program beginning in August at Silver Cliff, Colorado, where the company has an open-pit resource which it expects to expand. The Silver Cliff project consists of 96 contiguous patented and unpatented lode claims encompassing approximately 900 hectares in the Hardscrabble silver district, Custer county, south-central Colorado. The project lies immediately north of the town of Silver Cliff and Westcliffe and is 50 kilometres south of Canon City, 88 kilometres west-southwest of Pueblo and 225 kilometres south of Denver.
The Kate silver resource (the KSR) has been extensively drilled since the 1960s, and is one of four known historic silver deposits on the Silver Cliff property. The KSR underlies approximately 36 hectares or 4 per cent of the 900 hectares at Silver Cliff which Viscount controls.
The initial KSR silver resource estimate for Viscount was prepared in April, 2018, by Gilles Arseneau, PhD, PGeo, of Arseneau Consulting Services (ACS), in accordance with CIM standards incorporated by reference in National Instrument 43-101 using results from 19 cored HQ holes drilled in two phases in 2016 and 2017 plus results from historic holes verified by the 2016 to 2017 programs as assessed by ACS.
Many of the historic holes had been drilled for Tenneco Minerals at the KSR between 1987 and 1990, following which the company completed a feasibility study for open-pit mining of silver and announced plans to construct a $35-million milling operation at Silver Cliff. Shortly thereafter, the parent company, Tenneco was sold and the new owners decided to divest their mineral interests and the decision was reversed in 1991.
Of Viscount's two drilling campaigns on the KSR/Kate deposit, nine holes totalling 455.2 metres were drilled in 2016 and 10 additional holes totalling 912.1 metres were drilled in October of 2017. The drilling programs were primarily aimed at verifying the historical drill results. The best intersections from the 2016 and 2017 drilling according to ACS are as displayed in the attached table.
Hole No. From To Interval Ag
(m) (m) (m) (g/t)
K16-01 18.29 32.00 13.71 924.0
Including 18.29 24.38 6.09 1,768.0
Including 24.38 28.04 3.66 427.0
K16-03 17.37 34.14 16.76 141.5
Including 24.99 34.14 9.14 241.5
K16-04 18.59 36.88 18.29 204.0
Including 27.74 35.36 7.62 380.0
K16-05 19.81 33.53 13.72 390.6
including 25.91 32.00 6.09 762.0
K16-08 32.00 52.73 20.73 230.0
Including 39.62 50.29 10.67 403.0
K17-02 1.50 34.50 33.00 93.0
including 12.00 30.00 18.00 120.5
K17-04 18.00 39.00 21.00 121.7
Including 22.50 34.50 12.00 180.8
K17-05 9.50 24.50 15.00 279.6
including 11.00 18.50 7.50 477.0
Effective April 15, 2018, ACS estimated that the Kate deposit contained 2,064,000 tonnes of indicated mineral resource averaging 84 g/t of silver for 5.56 million ounces of silver and 3,172,000 tonnes of inferred mineral resource averaging 70 g/t of silver for 7,143,900 ounces of silver.
Classification Tonnes Grade Ag (g/t) Silver (oz)
Indicated 2,064,000 84 5,560,900
Inferred 3,172,000 70 7,143,900
(1) Mineral resources which are not mineral reserves do not have demonstrated economic
viability.
(2) The estimate of mineral resources may be materially affected by environmental,
permitting, legal, title, taxation, socio-political, marketing or other relevant issues.
(3) The inferred mineral resource in this estimate has a lower level of confidence than
that applied to an indicated mineral resource and must not be converted to a mineral reserve.
It is reasonably expected that the majority of the inferred mineral resource could be
upgraded to an indicated mineral resource with continued exploration.
(4) The mineral resources in this report were estimated using the Canadian Institute of
Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves,
Definitions and Guidelines prepared by the CIM standing committee on reserve definitions
and adopted by the CIM Council.
Mineral resources were estimated by ordinary kriging using Geovia GEMs version 6.8.1 modelling software into 10 by 10 by five m blocks. All mineralized blocks were assigned 2.36 tonnes per cubic /m bulk density. ACS considers that blocks estimated during pass one and from at least four drill holes could be assigned to the indicated category.
Viscount will be continuing to drill with the objective of adding to the ACS resource estimate of the KSR/Kate deposit as well as moving forward on the evaluation of resource potential on three other areas of historic deposits at Silver Cliff.
Qualified persons
The scientific and technical information contained in this news release has been reviewed and approved by Harald Hoegberg, PG, an independent consulting geologist who is a qualified person (QP) as such term is defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.
About Viscount Mining Corp.
Viscount Mining is a project generator and an exploration company with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada. The Silver Cliff property in Colorado lies within the historic Hardscrabble silver district in the Wet Mountain Valley, Custer county, south-central Colorado. It is located 44 miles west-southwest of Pueblo, Colo., and has year-around access by paved road.
We seek Safe Harbor.
© 2020 Canjex Publishing Ltd. All rights reserved.
DR_Money01
5 years ago
VLMGF:Viscount Mining Provides Corporate Update
VANCOUVER, Canada – Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or “the Company”), is pleased to provide a corporate update and review of our two properties located in Cherry Creek, Nevada, and Silver Cliff, Colorado.
Jim MacKenzie, Viscount CEO, stated “We are very excited by the prospects for the company in the coming year. After much uncertainty in the junior resource sector we believe we are well positioned with two strong properties located in the United States. Viscount is very encouraged by the potential at Cherry Creek, Nevada, with 20 past producing mines and at Silver Cliff, Colorado, where we have an open pit discovery which we expect to expand with future drill programs.”
1. Cherry Creek Nevada
The Cherry Creek property is 100% owned by Viscount and consists of 276 contiguous unpatented and 17 patented claims as well as mill rights. This 2,434 hectare property encompasses more than 20 past producing gold and silver mines with the three largest of these historic mines being the Exchequer/New Century, the Ticup and the prolific Star Mine. In 2013, Snowden Mining Industry Consultants Inc. completed a NI 43-101 Technical Report on Cherry Creek. Their geologists, while investigating the area of the historic Star mine, ranged to the west into the Flint Canyon area and identified structural, mineralogical and stratigraphic parallels with the sediment-hosted deposit being mined by Newmont Goldcorp Corp. at Long Canyon 96 kilometers to the north and which was purchased for US$2.3 billion in 2011.
On September 25th, Viscount announced receipt of a thesis completed by David J. Freedman on the Cherry Creek Mining District as partial fulfillment of the requirements for a Master of Science degree in Geology at the University of Nevada, Reno, Ralph J. Roberts Center for Research in Economic Geology (CREG) under the direction of advisor Dr. Michael W. Ressel, Ph.D., a research geologist with the Nevada Bureau of Mines and Geology. Previously, Dr. Ressel was Newmont Mining’s Chief Geologist for North America.
Mr. Freedman’s thesis documents a large, long-lived hydrothermal system and shows abundant evidence of hydrothermal-induced mineralization (metals carried by hot water and deposited in favorable rocks, and structures, etc.). This large hydrothermal footprint encompasses nearly eight square kilometers of favorable structures and stratigraphy; and, is responsible for the metallic mineralization that has allowed over 20 historical mines to operate in the district. The thesis documents the various mineral occurrences and relates them to each other in time and space, which is extremely useful for pursuing exploration targets because Viscount can now use this work to help develop a model of the mineralizing events and to a degree predict where the next deposits might be located.
Historic Mining
Cherry Creek has historically documented production of 312,012 short tons of mineralized material that yielded 32,450 ounces of gold, 1.6 million ounces of silver, 144,000 pounds of copper and 832,000 pounds of lead from more than 20 historic silver and gold mines including the Exchequer/New Century, Ticup/Motherlode and the Star Mine.
Geologically, the majority of the historic mines produced from vein deposits in numerous Precambrian to Triassic-age quartzites, shales, limestones and dolomites, mostly in the Prospect Mountain Quartzite and the Cambrian Carbonate Formations. The two largest were the Exchequer/New Century Mine and the Star Mine. Both ceased operations in the 1920s. F.C. Schrader reports on the historical resources at the Exchequer/New Century and Star mines in (Schrader, Frank C., 1931, Spruce Mountain District Elko County and Cherry Creek (Egan Canyon) District White Pine County, Nevada State Bureau of Mines, University of Nevada Bulletin No. 7). In this report, Schrader comments on the Star mine as follows: “The mineralized material at Star mine is said to average about a quarter of an ounce in gold and 20 ounces in silver to the ton, and about 8% each in lead and zinc. Some of the mineralized material, however, is very rich in both gold and silver and is said to run as high as 800 ounces in silver to the ton”.
The data disclosed by Schrader in 1931 has not been verified by a qualified person as defined in NI 43-101 because the actual production records are not known to be available for examination.
Work Programs
The 2014 sampling results indicate widespread occurrences of anomalous to high grade gold, silver, and base metal mineralization thereby confirming the information cited in historic reports.
From the 302 samples collected, 17 assayed greater than 1 g/t gold with 7 assaying greater than 10 g/t gold and a high value of 76.9 g/t or nearly 2.5 ounces per ton gold. Ninety nine samples assayed higher than 1 ounce per ton silver, with 31 having values greater than 10 ounces per ton and a high value of more than 8,700 g/t or 280 ounces per ton silver.
Surface base metal values were also very anomalous: with 3 containing greater than 1% copper and one with 3.4%; 14 lead assays were greater than 1% with a maximum value of than 20%. Zinc showed 10 sample assays greater than 1% with a high of 14%.
Ticup, Doctor’s Cut and Jacob’s Cut historic mines
In 2015 12 RC drill holes were completed in the historic silver mining area encompassing the former Ticup, Doctor’s Cut and Jacob’s Cut mines. Hole depths ranged from 79.3m (260 ft.) to 329.3m (1080 ft.), with a total of 2224.1m (7297 ft.) completed. This area will be revisited in our upcoming work program.
Notable Drill and Silver Assays:
Hole CC001: 9.1 meters at 52.6 g/t Ag (maximum silver assay 99.4 g/t)
Hole CC002: 27.5 meters at 52.0 g/t Ag (maximum silver assay 167g/t)
Hole CC006: 12.2 meters at 117.6 g/t Ag (maximum silver assay 506 g/t
Hole CC008: 100.5 meters at 7.4 g/t Ag (maximum silver assay 64g/t)
Hole CC010: 15.2 meters at 54.2 g/t Ag (maximum silver assay 133g/t)
Hole CC011: 30 meters at 50.00 g/t Ag (maximum silver assay 247g/t)
The intercepts stated above are drill widths. True thickness of the intercepts cannot be estimated at this time. Additional drilling is required to obtain the additional information required to estimate the true thickness of the mineralized intercepts of these zones.
RC Hole CC045 Reconnaissance test of the Star Vein System, 2018
The Star Mine had the largest historic production, exclusively from an east-west mineralized fault zone. Mine drifts followed two veins hosted in the Pre-Cambrian quartzites, shales and limestones.
After encountering an underground working from 123.4 to 125 m, hole CC045 intersected 7.6 m to 132.6 m of quartz-veined black phyllite interpreted to be an unmined portion of the North Star Vein and its footwall. This intercept of 4.5 m estimated true thickness, assayed 1.6 g/t gold and 24.88 g/t silver. The intercept includes two higher grade intervals: 3.26 g/t gold and 36 g/t silver over 1.52 m (126.49-128.01 m) and 2.42 g/t gold and 27.5 silver over 1.53 m (131.06-132.59m) respectively of estimated true thickness 0.90 m and 0.91 m.
RC Hole CC046 Reconnaissance test of the Exchequer Vein System, 2018
The Exchequer vein system hosted some of the oldest mines in the district, namely the Exchequer and Imperial (New Century) mines in what was considered the northern part of the Star Group of claims (Snowden, May 2013 and Bulletin No. 7, 1931). There are two veins that are roughly parallel, 9 to 18m apart, and strike N 80 W. They are called the Exchequer to the north and the Blue Vein to the south. They can be traced for about 915m and the quartz monzonite between the two veins was said to be of milling grade (Schrader 1931). The 915 m or greater strike length of the Exchequer vein systems is considered to represent a gold and silver target with excellent upside.
Hole CC046 was drilled to 174 meters across the Exchequer and Blue veins at an azimuth of 200° and angle of -65°. It was designed to test the deeper portions of both veins as well as the intervening mineralized intrusive.
The geology encountered by hole CC046 is complex due to the Exchequer Vein’s propensity to
“feather out” in quartzite of the Precambrian Prospect Mountain Formation. This Formation in the Exchequer Mine area hosts numerous veins as well as a mix of intermediate intrusive dikes that have intruded parallel to the veins. A “feathered” appearance noted in drill sample chips of the Exchequer Vein may indicate potential for a stockwork type of mineralization surrounding the main veins and, if so, suggests the possibility for a much larger mineralization target. Surface rock sampling of stockwork quartz veining along the strike of the Exchequer Vein in an area of no historic mining or drilling has yielded sample results up to 1.69 g/t gold and 320 g/t silver also providing encouragement to search for a nearby bulk tonnage target.
1. Silver Cliff, Colorado
The Silver Cliff project consists of 96 contiguous patented and unpatented lode claims encompassing approximately 900 hectares in the Hardscrabble Silver District, Custer County, south-central Colorado. The project lies immediately north of the town of Silver Cliff and Westcliffe and is 50 kilometers south of Canon City, 88 kilometers west-southwest of Pueblo and 225 kilometers south of Denver.
The Kate Silver Resource (the “KSR”) was the first area drilled by Viscount and is one of four known historic silver deposits on the Silver Cliff property. The KSR underlies approximately 36 hectares or 4% of the 900 hectares at Silver Cliff which Viscount controls.
The initial or maiden KSR silver resource estimate for Viscount was prepared in April 2018 by Gilles Arseneau, Ph.D., P. Geo., of Arseneau Consulting Services (“ACS”) in accordance with CIM standards incorporated by reference in National Instrument 43-101 (“NI 43-101”) using results from 19 cored HQ holes drilled in two phases in 2016 and 2017 plus results from historic holes verified by the 2016- 17 programs as assessed by ACS.
Many of the historic holes had been drilled for Tenneco Minerals at the KSR between 1987 and 1990, following which the company completed a feasibility study for open pit mining of silver and announced plans to construct a mill at Silver Cliff. Shortly thereafter, the parent company, Tenneco, decided to divest their mineral interests and the decision was reversed in 1991.
Of Viscount’s two drilling campaigns on the KSR/Kate deposit, nine holes totalling 455.2 metres were drilled in 2016 and ten additional holes totalling 912.1 metres were drilled in October of 2017. The drilling programs were primarily aimed at verifying the historical drill results. The best intersections from the 2016 and 2017 drilling are:
Hole #
From (m)
To (m)
Interval (m)
Ag (g/t)
K16-01
Including Including
18.29
18.29
24.38
32.00
24.38
28.04
13.71
6.09
3.66
924.0
1,768.0
427.0
K16-03
Including
17.37
24.99
34.14
34.14
16.76
9.14
141.5
241.5
K16-04
Including
18.59
27.74
36.88
35.36
18.29
7.62
204.0
380.0
K16-05
including
19.81
25.91
33.53
32.00
13.72
6.09
390.6
762.0
K16-08
Including
32.00
39.62
52.73
50.29
20.73
10.67
230.0
403.0
K17-02
including
1.50
12.00
34.50
30.00
33.00
18.00
93.0
120.5
K17-04
Including
18.00
22.50
39.00
34.50
21.00
12.00
121.7
180.8
K17-05
including
9.50
11.00
24.50
18.50
15.00
7.50
279.6
477.0
Effective April 15 2018, ACS estimated that the Kate deposit contained 2,064,000 tonnes of Indicated Mineral Resource averaging 84 g/t of silver for 5,560,000 ounces of silver and 3,172,000 tonnes of Inferred Mineral Resource averaging 70 g/t of silver for 7,143,900 ounces of silver.
classification
tonnes
grade Ag (g/t)
ounces silver
Indicated
2,064,000
84
5,560,900
Inferred
3,172,000
70
7,143,900
(1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
(2) The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
(3) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.
(4) The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.
The Mineral Resources were estimated from 133 drill holes, 19 of which were drilled by Viscount in 2016 and 2017. A three-dimensional solid of the Kate mineralization was generated on north-south sections spaced 25 m apart. All silver grades were capped to 1,000 g/t and composited to 2.5 m prior to estimation.
Mineral Resources were estimated by ordinary kriging using Geovia GEMs Version 6.8.1 modelling software into 10 by 10 by 5 m blocks. All mineralized blocks were assigned a 2.36 t/m3bulk density. ACS considers that blocks estimated during pass one and from at least 4 drill holes could be assigned to the Indicated category.
Viscount will be continuing to drill with the objective of adding to the ACS resource estimate of the KSR/Kate deposit as well as moving forward on evaluation of resource potential on 3 other areas of historic mining at Silver Cliff.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, P.Eng, FEC, an independent consulting geologist who is a "Qualified Person" (QP) as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). It should be noted that the QP has not conducted a field inspection of the Cherry Creek property.
About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF)
Viscount Mining is a project generator and an exploration company with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.
The Silver Cliff property lies within the historic Hardscrabble Silver District in the Wet Mountain Valley, Custer County, south-central Colorado. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road. The property consists of 900 hectares where high grade silver, gold and base metal production came from numerous mines during the period 1878 to the early 1900’s. The property underwent substantial exploration in the 1967 to 1984 period and again in the late 1980s. The property encompasses a portion of a large caldera and highly altered sequence of Tertiary rhyolitic flows and fragmental units which host deposits with both precious and base metals. This has been demonstrated in the mineralization historically extracted from the numerous underground and surface mining operations. Drilling in the 1980s by Tenneco resulted in a feasibility study on which basis it was planned to bring the property to production. The plan was abandoned following take over by another company.
The Cherry Creek property is in an area commonly known as the Cherry Creek Mining District, located approximately 53 miles north of the town of Ely, in White Pine County, Nevada. The property consists of 276 unpatented and 17 patented claims as well as mill rights, with its more than 2,434 hectares encompassing in excess of 20 historic mines.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim MacKenzie”
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 1 844 863 3622
Email: info@viscountmining.com
Neither 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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
DR_Money01
5 years ago
(VLMGF) Viscount Mining Announces Completion of Master's Thesis For Cherry Creek Nevada
VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or “the Company”), is pleased to announce the receipt of a master’s thesis completed on the Cherry Creek Mining District in Nevada where our Cherry Creek property is located.
The thesis was prepared by David J. Freedman as partial fulfillment of the requirements for the Master of Science degree in Geology at the University of Nevada, Reno Ralph J. Roberts Center for Research in Economic Geology (CREG); under the direction of advisor Dr. Michael W. Ressel Ph.D., a research geologist with the Nevada Bureau of Mines and Geology. Previously, Dr. Ressel was Chief Geologist of North America for Newmont Mining.
The thesis is entitled: “Igneous and Hydrothermal Geology of the Central Cherry Creek Range, White Pine County, Nevada.” It discusses the local geology, geochemistry, age date work, igneous geology, rock alteration, and mineralization. Several of the Company’s gold and silver target areas are discussed in the thesis and directly benefit from the new geological understanding and new geochemical data.
The thesis work has documented a large, long lived hydrothermal mineralizing system and shows abundant evidence of hydrothermal mineralization (metals carried by hot water and deposited in favorable rocks, and vein structures etc.) This large hydrothermal footprint encompasses nearly eight kilometers of stratigraphy and is responsible for the metallic mineralization that has allowed over 40 historical mines to operate in the district. The thesis documents the various mineral occurrences and relates them to each other in time and space, which is extremely useful for pursuing exploration targets because Viscount can now develop a model of the mineralizing events and to a degree predict where the next deposits might be located.
The company is currently incorporating the findings of this thesis into its targeting and exploration work for the fall of 2019.
Viscount Director Mark Abrams, BSc. and MSc. in Geology stated: “We are very pleased with the findings in Mr. Freedman’s thesis. The age of the intrusions and related mineralization is very consistent with other productive precious metal mining districts in north-central and eastern Nevada. The deep reaching through-going, high angle faults have fractured the host rocks and prepared them to allow circulation of mineralizing fluids carrying precious and base metals. These high-angle faults coupled with the low-angle bedding parallel faults allow the mineralizing fluids to ascend through the rock column and travel laterally along the contacts between rock units to later precipitate mineralization in favorable horizons in the known regional host rocks that occur at Cherry Creek.”
About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF)
Viscount Mining is a project generator and an exploration company with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.
The Silver Cliff property in Colorado lies within the historic Hardscrabble Silver District in the Wet Mountain Valley, Custer County, south-central Colorado. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road. The property consists of 900 hectares where high grade silver, gold and base metal production came from numerous mines during the period 1878 to the early 1900’s. The property underwent substantial exploration between 1967 and 1984.
The property is interpreted to encompass a portion of a large caldera and highly altered sequence of Tertiary rhyolitic flows and fragmental units which offers potential to host deposits with both precious and base metals. This has been demonstrated in the mineralization historically extracted from the numerous underground and surface mining operations. Drilling in the 1980s by Tenneco resulted in a feasibility study on which basis it was planned to bring the property to production. The plan was abandoned following take over by another company.
The Cherry Creek Property exploration is focused in an area commonly known as the Cherry Creek Mining District, located approximately 30 miles north of the town of Ely, in White Pine County, Nevada. Cherry Creek consists of over 400 unpatented and patented claims as well as mill rights, and is comprised of more than 3238 hectares. Cherry Creek includes more than 20 past producing mines.
For additional information regarding the above noted properties and other corporate information, please visit the Company's website at www.viscountmining.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim MacKenzie”
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 1 844 863 3622
Email: info@viscountmining.com
Neither 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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
DR_Money01
6 years ago
VLMGF Viscount Mining Announces Reconnaissance Drill Test Results At Its Cherry Creek Property In Nevada
VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or “the Company”) conducted a two-hole reconnaissance reverse circulation (RC) drill test totaling 434 meters (m) or 1,425 feet (ft) on the Cherry Creek property in late November and early December 2018. Hole numbers are CC045 and CC046. The purpose of the drilling was to test the Star Vein and the Exchequer Vein system’s in the vicinity of their namesake historic mines for continuity of the veins at depth, and to better understand the nature of the mineralization in the veins and host geology. The holes were drilled utilizing a Foremost Explorer 1500 RC drill supplied by Boart Longyear of Elko, Nevada.
Mark Abrams, Viscount Director and geologist, stated: “The two-hole reconnaissance drill test program accomplished the objectives we hoped to achieve. First, hole CC045 established that the South Star Vein extends much deeper than previously known from review of existing underground mapping. Further, the vein possibly widens at depth, although more drilling is required to confirm this. Hole CC045 also successfully tested the upper level of the lesser known North Star Vein and established gold and silver mineralization is present within 132 m (434 ft) of the surface, even though the vein has not been mapped on the surface. We are encouraged by this and intend to explore for the North Star Vein on the surface. Additionally, both hole CC045 and CC046 appear to have identified quartz vein stockwork alteration which we plan to investigate further. Stockworks are a common feature in many mineral deposits and mines worldwide. They consist of swarms of thin discontinuous veinlets that can host mineralization.”
RC Hole CC045 test of the Star Vein System
The Star Vein system is comprised of the South Star Vein and the North Star Vein emplaced about 9 m (30 ft) apart and are subparallel to each other. Both veins have a production history, with the South Star Vein having the greatest production. Mineralization in the Star veins is hosted in a black phyllite and grey/tan quartzite of the Precambrian Prospect Mountain Formation.
Hole CC045 was drilled across the North Star and South Star veins. The hole was designed to test the deeper portion of the South Star vein, as well as, the North Star Vein. It was drilled to 261 m (855 ft) on an azimuth of 204° and at a -65° angle to horizontal.
After encountering an underground working from123.4 to 125 m (405-410 ft), hole CC045 intersected 7.6 m (25 ft) to 132.6 m (435 ft) of quartz-veined black phyllite interpreted to be an unmined portion of the North Star Vein and its footwall. This intercept of 4.5 m (14.76 ft) estimated true thickness assayed 1.6 grams of gold per tonne (g/t Au) or 0.051 oz/ton and 24.88 grams of silver per tonne (g/t Ag) or 0.796 oz/ton. The intercept includes two higher grade intervals: 3.26 g/t Au (0.10 oz/ton) and 36 g/t Ag (1.15 oz/ton) over 1.52 m (126.49-128.01 m or 415-420 ft) and 2.42 g/t Au (0.08 oz/ton) and 27.5 g/t Ag (0.88 oz/ton) over 1.53 m (131.06-132.59 or 430-435 ft), respectively of estimated true thickness 0.90 m (2.95 ft) and 0.91 m (2.97 ft).
Hole CC045 also intersected what is interpreted from the presence of quartz and sulphides in several sections to be an unmined portion of the South Star Vein from 230.1 m (755 ft) to 260.6 m (855 ft) where caving backfill in historic mine workings caused the hole to be terminated. The 30.5 m (100 ft) interval has an estimated true thickness of 19.59 m (64 ft) whereas the historic production width was in the 0.5-2.0 m range.
Included in the above interval was 1.52 m (5 ft) of quartz-veined black phyllite from 240.79 to 242.31 m (790-795 ft) that assayed 0.822 g/t Au (0.026 oz/ton) and 30 g/t Ag (0.96 oz/t). Estimated true thickness is 0.9 m (2.95 ft).
RC Hole CC046 test of the Exchequer Vein System
The Exchequer Vein system is comprised of the Exchequer Vein (also known as the New Century or Imperial Vein) and the Blue Vein. The Exchequer and Blue Veins are distinct, subparallel, approximately 9 to 18 m (30 to 60 ft) apart along the Exchequer Fault and separated by quartz monzonite which hosts disseminated gold and silver mineralization as reported in Nevada Bureau of Mines and Geology Bulletin 14, Spruce Mountain District, Elko County and Cherry Creek (Egan Canyon) District, White Pine County, F.C. Schrader (USGS), August 1, 1931. .
Hole CC046 was drilled to 174 m (570 ft) across the Exchequer and Blue veins at an azimuth of 200° and angle of -65°. It was designed to test the deeper portions of both veins as well as the intervening mineralized intrusive.
The geology encountered by hole CC046 is complex due to the Exchequer Vein’s propensity to “feather out” in quartzite of the Precambrian Prospect Mountain Formation. This Formation in the Exchequer Mine area hosts numerous veins as well as a mix of intermediate intrusive dikes that have intruded parallel to the veins. A “feathered” appearance noted in drill sample chips of the Exchequer Vein may indicate potential for a stockwork type of mineralization surrounding the main veins and, if so, suggests the possibility for a much larger mineralization target. Surface rock sampling of stockwork quartz veining along the strike of the Exchequer Vein in an area of no historic mining or drilling has yielded sample results up to 1.69 g/t Au (0.054 oz/ton) and 320 g/t Ag (10.24 oz/ton), also providing encouragement to search for a nearby bulk tonnage target.
Based on the amount of quartz vein and fine-grained sulfide in the chips, the Exchequer Vein is interpreted to have been intersected from 91 to 110 m (300-360 ft) in hole CC046. The true thickness is estimated at 12 m (39.3 ft). A dark porphyritic dike from126.5 to 129.5 m (415-425 ft) is likely the quartz monzonite dike noted in the literature as occurring between the Exchequer Vein and the Blue Vein. The Blue Vein, as evidenced by the abundance of blue-green chlorite in a 90% quartz matrix, was cut from 166 to 174 m (545-570 ft for an estimated true thickness of 5 m (16.4 ft). Assayed intervals from both veins were not anomalous.
Quality Assurance/Quality Control ("QA/QC") Measures, Chain of Custody
The Company has implemented a rigorous QA/QC program using best industry practices at the Cherry Creek Property. Drill cuttings samples are split down on the rig to 3-4 kilograms and placed in securely-sealed bags for transportation to the ALS laboratory in Elko, Nevada; for sample preparation and subsequent analysis at ALS Canada Ltd. in Vancouver. A small “B split” of each of drill cutting sample interval was collected at the rig and archived in secure storage. The sample pulps and rejects will be retrieved from ALS. The insertion of standards, blanks and duplicates as well as logging was conducted by Viscount personnel at the property site.
Assays for gold are completed at ALS using the Au-ICP21 method. This method includes a fire assay fusion of a 30 gram sample charge that has been pulverized to 85% passing 200 Mesh, followed by ICP (Inductively Coupled Plasma-Atomic Emission Spectrometry (ICP-AES). Analysis for silver and pathfinder elements was also completed at ALS using the ME-ICP41 method. This method utilizes a 0.5 gram sample charge that has been pulverized to 85% passing 200 Mesh followed by Aqua Regia dissolution and then analyzed by ICP-AES.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, P.Eng, FEC, an independent consulting geologist who is a "Qualified Person" (QP) as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). It is noted that seasonal weather conditions have prevented a field inspection which will be conducted by the QP as soon as possible in the Spring.
About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF)
Viscount Mining is a project generator and an exploration company with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.
The Silver Cliff property in Colorado lies within the historic Hardscrabble Silver District in the Wet Mountain Valley, Custer County, south-central Colorado. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road. The property consists of 2,319.48 acres where high grade silver, gold and base metal production came from numerous mines during the period 1878 to the early 1900’s. The property underwent substantial exploration between 1967 and 1984.
The property is interpreted to encompass a portion of a large caldera and highly altered sequence of tertiary rhyolitic flows and fragmental units which offers potential to host deposits with both precious and base metals. This has been demonstrated in the mineralization historically extracted from the numerous underground and surface mining operations. Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study on which basis it was planned to bring the property to production. The plan was abandoned following takeover by another company.
The Cherry Creek exploration property is in an area commonly known as the Cherry Creek Mining District, located approximately 50 miles north of the town of Ely, White Pine County, Nevada. Cherry Creek consists of 293 unpatented and patented claims as well as mill rights and is comprised of more than 2,442 hectares. Cherry Creek includes more than 20 past producing mines.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim MacKenzie”
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 1 844 863 3622
Email: info@viscountmining.com
Neither 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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
DR_Money01
6 years ago
Viscount Mining Commences Drilling at Cherry Creek, Nevada
Vancouver, British Columbia--(Newsfile Corp. - November 29, 2018) - Viscount Mining Corp. (TSXV: VML) (OTCQB: VLMGF) ("Viscount" or "the Company")is pleased to announce it has started a two to four-hole (610 metres -1,464 metres) reverse circulation drill program to make an initial test of the Star and Exchequer vein systems. The program will be results driven and will be expanded as needed based on visual inspection of the samples logged on site.
Kaare Foy, Viscount Chairman stated: "In 2013 Snowden completed a NI 43-101 report and its geologists, while evaluating the Star mine property identified geological, structural, mineral and stratigraphic parallels with Newmont's Long Canyon mine to the north which they purchased for US$2.3 billion in 2011 but mentioned the mineralization hosted by the Long Canyon Mine is not necessarily indicative of the mineralization hosted on the Company's Cherry Creek Property."
Mark Abrams, Viscount geologist, added: "Assay results received from sampling also demonstrate the poly-metallic character of Cherry Creek's mineralization. Many of the highest assay values coincide with the known historic mining trends and the structural interpretations across the Cherry Creek property. The distribution of mineralized samples throughout the prospect, and accompanying alteration, suggests good potential for significant metal accumulations."
Star Mine
The Star Mine was the largest producer in the district. It produced from only a more or less east to west trending mineralized fault zone, with drifts following two veins hosted in the Pre-Cambrian quartzites, shales and limestones. (Snowden Mining Industry Consultants Technical Report, NI 43-101 May 20 2013). In reference to material extracted, Schrader (p. 35) states that "…it is said to average about a quarter of an ounce in gold and 20 ounces in silver to the ton, and about 8 per cent each in lead and zinc….Some….however, is very rich in both gold and silver and is said to run as high as 800 ounces in silver to the ton." (Schrader, Frank C., 1931, Spruce Mountain District Elko County and Cherry Creek (Egan Canyon) District White Pine County, Nevada State Bureau of Mines, University of Nevada Bulletin No. 7). The data disclosed by Schrader in 1931 has not been verified by a qualified person as defined in NI 43-101 because the actual production records are not known to be available for examination. The Star Mine has never undergone exploration using modern techniques or modern drilling. Recognizing that the range of grades cited by Schrader is only conceptual because of the limited information provided at the time, a significant exploration drill program nevertheless is considered to be warranted to test the potential.
Exchequer Mine, Blue Vein and New Century (Imperial) Mine
The Exchequer and Imperial (New Century) mines are some of the oldest in the district, and were considered the northern part of the Star Group of claims (Snowden, May 2013 and Bulletin No. 7 1931). There are two veins that are roughly parallel, 9 to 18m apart, and strike N 80 W. They are called the Exchequer to the north and the Blue Vein to the south. They are separated by a quartz monzonite that is hosted in argillite, shale and quartzite. They can be traced for about 915m and the quartz monzonite between the two veins was said to be of milling grade (Schrader 1931). The 915m or greater strike length of the Exchequer vein systems is considered to represent a gold and silver target with excellent upside.
Viscount also is currently in the final planning stages for a winter drill program at Silver Cliff to expand the indicated and inferred mineral resource announced by Viscount news release on May 30th of this year.This next phase will continue to confirm the historical data reported by Tenneco in order to expand the current resource and test new targets. Between 1987 and 1990Tenneco Minerals completed a feasibility study after an intensive drilling campaign and announced plans to construct a $35 million mill at Silver Cliff. (This was the year before the parent company, Tenneco, decided to divest their mineral interests so the decision was reversed in 1991).
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, P.Eng, FEC, an independent consulting geologist who is a "Qualified Person" as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About Viscount Mining (TSXV: VML) (OTCQB: VLMGF)
Viscount Mining is a project generator and an exploration company with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.
The Silver Cliff property in Colorado lies within the historic Hardscrabble Silver District in the Wet Mountain Valley, Custer County, south-central Colorado. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road. The property consists of 2,319.48 acres where high grade silver, gold and base metal production came from numerous mines during the period 1878 to the early 1900's. The property underwent substantial exploration between 1967 and 1984.
The property is interpreted to encompass a portion of a large caldera and highly altered sequence of tertiary rhyolitic flows and fragmental units which offers potential to host deposits with both precious and base metals. This has been demonstrated in the mineralization historically extracted from the numerous underground and surface mining operations. Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study on which basis it was planned to bring the property to production. The plan was abandoned following takeover by another company.
The Cherry Creek Property exploration property is focused in an area commonly known as the Cherry Creek Mining District, located approximately 30 miles north of the town of Ely, in White Pine County, Nevada. Cherry Creek consists of over 400 unpatented and patented claims as well as mill rights, and is comprised of more than 3238 hectares. Cherry Creek includes more than 20 past producing mines.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim MacKenzie"
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 1 844 863 3622
Email: info@viscountmining.com
Neither 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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
kjlars5
8 years ago
Sumitomo's quest for more gold starts with Viscount Mining
What does Sumitomo know ?
http://www.mining.com/web/sumitomos-quest-for-more-gold-starts-with-viscount-mining/
Japanese giant Sumitomo Corporation is on a quest for gold. Its only exploration-level joint venture is with Viscount Mining. Resource Maven Gwen Preston explores the Viscount proposition, including the historic potential of its Cherry Creek, Nevada, land package and its potential to produce Carlin-type gold.
Sumitomo's quest - Viscount Mining Corp map
Sumitomo Corporation currently has very few exploration-stage joint ventures. One of them has subsidiary Summit Mining International advancing a project owned by Viscount Mining Corp. (VML:TSX.V).
Viscount's flagship asset is the Cherry Creek project in Nevada. And last February Sumitomo, through its subsidiary Summit Mining, signed on to earn 75% ownership by spending $10 million on the project over eight years, in addition to producing a bankable feasibility study at an estimated cost of between $30 million and $40 million.
Why is Sumitomo Corporation interested in Cherry Creek? For its multi-faceted potential.
Cherry Creek is a land package that for many years was divided up among a list of owners, most of whom were not inclined to work together. Viscount's first feat was negotiating with each of these owners and assembling the property for the first time.
"The really enticing aspect of Viscount Mining Corp.'s Cherry Creek is the possibility of Carlin-type gold."
History speaks to part of its potential: Cherry Creek hosts 20 historic mines that produced silver, gold and tungsten between 1872 and 1940. The mines tapped into vein mineralization, the extent and sources of which have never been explored with modern techniques. The possibility of finding more high-grade silver and tungsten is pretty high.
That's interesting, but the really enticing aspect of Cherry Creek is the possibility of Carlin-type gold.
Cherry Creek, Nevada
Cherry Creek, Nevada
The Flint Canyon area of Cherry Creek comprises dissected blocks of the Dunderberg Shale, with Marjum Limestone underneath and Notch Peak Limestone and Pogonip Formation on top.
At nearby deposits the Dunderberg, Notch Peak and Pogonip units are important Carlin gold hosts. At Flint Canyon not only are all three units present, but a second key characteristic also prevails: jasperoid outcrops.
Many Carlin-type gold deposits have been found because jasperoid outcrops along the bedding contacts of mineralization carbonate rocks. At Flint Canyon, the jasperoids appear to lie along the base of the Dunderberg shale and along the Pogonip-Notch Peak contact.
At this point Flint Canyon has only seen mapping, which determined the jasperoid and carbonate bedding relationships just described, and rock chip sampling, which returned gold in 138 of 203 samples.
"Last year, near the end of the season in October, Summit specifically focused on Flint Canyon and its Carlin-type gold characteristics," said Jim MacKenzie, CEO of Viscount Mining. "Based on that work, they are going to make Flint Canyon a very high priority target in 2016. What got them really excited were all the jasperoid occurrences."
MacKenzie couldn't provide any details on Summit's plans for the year because they have not yet been announced, but he did say there's "going to be a significant amount of money put into Flint Canyon this year." The work will start with building roads—and that in itself is notable, as Summit had previously planned to do helicopter work and the decision to build roads suggests the company plans to be there for a while.
Flint won't be the only part of the project getting attention.
MacKenzie says Summit will be mapping, sampling and drilling other targets as well. A detailed exploration plan should be announced shortly.
"What they originally liked about the property: they referred to it as a 'candy store' because of all the targets and the potential for gold, silver, lead, zinc and tungsten," said MacKenzie.
The market has already noticed the significance of the relationship: Viscount's shares are up 160% since last summer.
With almost a decade of junior resource-focused journalism under her belt, Gwen Preston launched Resource Maven. Preston watches the wires, talks to her network and analyzes economics to identify resource news that matters and figure out how to profit. She focuses on early-stage exploration and development stories. Preston has been interviewed on CBC and in Financial Post.
Want to read more Gold Report interviews like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see a list of recent interviews with industry analysts and commentators, visit our Streetwise Interviews page.
Source: Gwen Preston, Resource Maven (3/21/16)
https://www.streetwisereports.com/pub/na/sumitomos-quest-for-more-gold-could-start-with-viscount-mining
Disclosure:
1) The following companies mentioned in the article are sponsors of Streetwise Reports: Viscount Mining Corp. Streetwise Reports does not accept stock in exchange for its services.
2) Gwen Preston: I own, or my family owns, shares of the following companies mentioned in this interview: None. I personally am, or my family is, paid by the following companies mentioned in this interview: None. My company has a financial relationship with the following companies mentioned in this interview: None. I was not paid by Streetwise Reports for writing this article.
3) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer.
4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their families are prohibited from making purchases and/or sales of those securities in the open market or otherwise during the up-to-four-week interval from the time of the interview until after it publishes.
Source for images and maps: Viscount Mining Corp.
kjlars5
8 years ago
This is Great News !!
Drilling Update at Viscount's Flint Canyon, Cherry Creek Property in Nevada
http://finance.yahoo.com/news/drilling-viscounts-flint-canyon-cherry-140800666.html;_ylt=A0LEVybWJW1YCU0AzAFXNyoA;_ylu=X3oDMTExN2w1ZXNrBGNvbG8DYmYxBHBvcwMyBHZ0aWQDVUlDMl8xBHNlYwNzYw--?soc_src=social-sh&soc_trk=tw via @YahooFinance
TechnologyMarketsIndustriesMy ScreenersMy Portfolio
US Markets close in 4 hrs and 18 mins
S&P 500
2,268.53
10.70 (0.47%)
Dow 30
19,920.47
38.71 (0.19%)
Nasdaq
5,468.53
39.45 (0.73%)
Crude Oil
53.86
0.57 (1.07%)
Gold
1,166.90
2.10 (0.18%)
Silver
16.45
0.05 (0.28%)
Drilling Update at Viscount's Flint Canyon, Cherry Creek Property in Nevada
Marketwired MarketwiredNovember 22, 2016
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 22, 2016) - Viscount Mining Corp. (TSX VENTURE:VML)(OTCQB:VLMGF) ("Viscount" or "the Company"), is pleased to provide an update on its flagship Cherry Creek Nevada Property (the "Property"). The Phase 1 drilling commenced at Flint Canyon in early September; and is being managed and funded by Summit Mining Exploration Inc. ("Summit"), a wholly-owned US subsidiary of Sumitomo Corporation, under the Exploration-Earn In Agreement.
The 2016 Phase 4 soil sampling program was completed in late July. A total of 1,250 samples were collected, including those at closer spacing than the 75m by 75m reported in the news release of (August 10, 2016). All were submitted to ALS Global for gold assay and multi-element geochemical analysis. In the central Flint Canyon area, the results reported by Summit show a positive correlation of gold and arsenic to the locations of the jasperoid occurrences and with major faults and regional structures. The soil sample results and geological map data were used for guidance in the drill planning.
A reverse circulation (RC) drill plan was made based on soil anomalies, geologic mapping, and targeting of the jasperoid outcrops. The initial drill program that was reported in the news release of (September 7, 2016) was for 18 holes from 12 drill sites for total of 14,366 feet (4,380 m).
The revised drill plan is for 34 holes from 11 sites for 24,000 feet (7,317 m). Drilling has progressed well and is continuing due to good weather, ground conditions, and short drill rig moves. Currently the program is expected to continue to the end of November.
A map showing the new roads and drill pads at Flint Canyon may be consulted using the following link: http://media3.marketwire.com/docs/Flint_Cayon_Road_and_Drill_Pad_Map.jpg
Mark Abrams, Viscount Technical Advisory Board, stated: "Summit has conducted a very well planned and executed exploration program to date at Flint Canyon. My initial examination of Flint Canyon drill samples shows features typically associated with a Carlin-type gold deposit, including silicification and disseminated fine grained pyrite which are present. We look forward to the continued testing of targets on the property and the analysis of the lab results that will follow."
About Flint Canyon
The 2015 and 2016 mapping at Flint Canyon found the faulting to be more complex than previously indicated on the Adair 1961 geologic base map. Summit's mapping program found that east-west orientated faults and fractures, which are important ore controlling structures at the Ticup and Star Mines, also occur in the area. The Flint Canyon area contains highly dissected fault blocks of the Dunderberg Shale with the underlying Marjum Limestone and overlying Notch Peak Limestone. The Pogonip Formation overlies the Notch Peak and both units are important host rocks for Carlin-type gold mineralization in east-central Nevada.
Jasperoid occurrences in Nevada are extremely significant in context to Carlin-type gold deposits and mineralized jasperoid outcrops are common throughout the Flint Canyon area. They occur principally along the base of the Dunderberg Shale, but other outcrops are found along the Pogonip-Notch Peak contact. Many major gold discoveries have been made based on the presence of outcropping, weakly mineralized jasperoid hosted in and along bedding contacts of carbonate rocks. At Flint Canyon, jasperoid is found in the same carbonate rocks that are prolific host rocks at nearby large gold deposits (Newmont Mining-Long Canyon and Kinross Gold Corporation-Bald Mountain deposits).
The jasperoid beds, interpreted as west dipping tabular features, occur along the base of the Dunderberg Shale and within the Pogonip group limestone. Summit's geological team indicates that the Dunderberg Shale is generally recessive and is exposed mainly along the outcropping contacts with more competent rocks. The Dunderberg appears to be moderately altered throughout its distribution, and, at Flint Canyon, it experienced widespread and significant alteration by hydrothermal fluids. The underlying Marjum Limestone is usually competent and unaltered, while the overlying Pogonip exhibits variable alteration.
Mineralization identified by this work is hosted within and extending out from silica bodies known as jasperoids formed at the Pogonip Limestone/Notch Peak Limestone contact, within the Dunderberg Shale, and within and extending out from jasperoids formed at the Dunderberg Shale/Marjum Limestone contact. Jasperoids form from silica and iron replacement of the limey component of rocks when warm springs carrying silica, iron and potentially metals such as gold circulate through the rock column. As the silica and iron rich waters percolate through the rock, the limey component of the rock dissolves, migrates away and redeposits as calcite veins (calcium carbonate) in areas outboard of the warm spring waters. The host rock, depending on its content of limey material, may form caves or even collapse as the limey component is flushed out. Collapse features have been noted in outcrop and in new road cuts in the anomaly areas of Flint Canyon. This event makes the rock more permeable and allows even more silica rich waters to flow in. As the waters flush in they begin to deposit silica and iron as jasperoids. Gold deposition can occur as part of this process and, in fact, has at Flint Canyon.
The Cherry Creek district, including Flint Canyon, is cut by very deep seated fault structures. These faults would have provided a very good plumbing system that allowed mineralizing waters to circulate through the rock column over a large area. In looking at the gold mineralized rock at Flint Canyon, one can see more than one event of silica, iron and likely gold introduction into the rock. Multiple events like this have been known to drive up the gold grade at other projects and may also have done so at Flint Canyon.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, P.Eng, FEC, an independent consulting geologist who is a "Qualified Person" as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
The exploration and drill programs are being managed by David Tretbar, Summit Exploration's Executive Vice President, Exploration and Mineral Resources, a Qualified Person as defined by NI 43-101. Mr. Tretbar is a registered Professional Geologist in Arizona (#48036) and a Certified Professional Geologist (CPG #11086) with the American Institute of Professional Geologists. Mr. Tretbar holds a Master's Degree in Geochemistry from the Mackay School of Mines, University of Nevada Reno.
About Viscount Mining (TSX VENTURE:VML) (VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 9,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
About Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in businesses from the information industry to the retailing industry. Summit Mining Exploration, Inc. is a wholly-owned subsidiary of Sumitomo Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp
ON BEHALF OF THE BOARD OF DIRECTORS
Jim MacKenzie, President, CEO and Director
Neither 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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
kjlars5
8 years ago
Viscount Mining Reports High Grade Silver Intercept at its Silver Cliff Property in Colorado
http://www.einnews.com/pr_news/358949987/viscount-mining-reports-high-grade-silver-intercept-at-its-silver-cliff-property-in-colorado
- Drill Hole K16-01 assayed 1,778.5 g/t or (57.2 oz/t) silver over 20-ft. or (6.1 m) in a 50-ft. (15.24 m) section averaging 837.4 g/t (26.9 oz/t)
/EINPresswire.com/ -- VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 21, 2016) - Viscount Mining Corp. (TSX VENTURE:VML) (OTCQB:VLMGF) ("Viscount" or "the Company"), is pleased to announce the first drill results from the Silver Cliff property in the Hardscrabble Silver District of Custer County, Colorado (the "Property"). The 2016 drill program that Viscount commenced in mid-November of this year had as its primary objective the confirmation of historical drilling and mineral resource documentation on one of the Silver Cliff deposits known as the Kate Silver Resource (the "KSR"). Nine holes with a total of 1,502 ft. (457.8 m) were completed as part of the drill program and this release is reporting values from K16-01, which was the first hole drilled and assayed at ALS Canada Ltd., at their laboratories in Reno, Nevada, and Vancouver, BC.
Assay results for confirmation hole K16-01 drilled at an inclination of -60° averaged 1,778 parts per million (ppm, i.e. g/t and which equals 57.2 oz/t) over 20 ft. (6.1 m) from 60 to 80 ft. (18.3 to 24.4 m) of core interval. Each analyzed sample in this interval represented 5 ft. (1.52 m). The 50 ft. (15.24 m) of mineralized core from 55 to 105 feet (16.76 to 32.00 m) averaged 837.35 ppm (26.92 oz/t). The collar of K16-01is estimated from historic maps and field evidence to be within 4 ft. (1.2 m) of historical drill hole DDH 73-2 for which reports show 1,927.7 g/t silver over 13.5 m (62 oz/t over 44.29 ft.).
Based on core logging, the mineralization is associated with silica which has replaced locally vuggy limestone of a reef comprised of fossilized stromatolites. Viscount's technical team attributes the difference in silver values between 2016 drill hole K16-01 and historical drill hole DDH73-2 to the fact that such replacement typically is not uniform. The mineralized siliceous zone intersected by K16-01 is located at a depth from which it could be mined efficiently utilizing open pit techniques, and, because the reef appears to be nearly flat-lying, there is potential for lateral extensions of the mineralization.
Kaare Foy, Viscount Chairman stated: "We are extremely pleased with the early results of our 2016 drill campaign at Silver Cliff. The high silver values represent a solid starting point toward addressing our primary goal for Silver Cliff which is to confirm the historical mineral resource and then look to enlarge that resource by extending the drill program outside the perimeter of the original resource on which the PEA was done by Tenneco. Today's release represents a solid cornerstone for this mission and we look forward to reporting further assays from this program as they become available."
Jim Ebisch, Viscount's Project Manager for the 2016 drill program further stated that: "Even given the fact that there is a historical silver resource and PEA completed for the Silver Cliff project, we believe the region containing, and immediately surrounding the KSR is materially underexplored and the historical resource there could be greatly enhanced in the future with just a few strategically placed drill holes. The 2016 drilling shows that the silver mineralization (blue-grey mineralization) is hosted predominantly by a gently-dipping, silicified carbonate reef that formed during a volcanic hiatus. The KSR at this juncture appears to be the result of simple carbonate replacement by silica-rich, silver/lead/zinc-bearing fluids adjacent to interpreted deep seated epithermal veins. These carbonate rock systems replaced by silicification-associated resources are commonly found over large lateral extents and the greatest promise for the KSR may eventually lie in undiscovered stacked horizons, in combination with high-grade epithermal veins that may underlie the KSR."
Future exploration work at Silver Cliff's KSR region will depend on the evaluation of the current confirmatory drill program once all of the assay results have been received and interpreted by Viscount's technical team.
About Silver Cliff Property
The Silver Cliff property lies within the historic Hardscrabble Silver District in Colorado. The Property consists of 96 lode claims where high grade silver, gold and base metal production came from numerous mines during the period 1878 to 1894. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road. The property underwent substantial exploration between 1967 and 1984. The major explorers were Freeport, Hecla, Homestake, Moly Corp, Coca Mines and Tenneco Minerals.
The Silver Cliff Property is interpreted to encompass a large caldera and porphyry system which offers potential to host a number of deposits from both precious metals to base metals. This has been demonstrated in the mineralogy and grade historically extracted from numerous underground mining operations dating back to the late 1800s and early 1900s.
Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study which formed the company's decision to put the property into production. Known historical silver grades range from below detection to a high of 2,125 g/t (68 o/t) Ag over 13.4 metres. Known historical gold grades range from below detection to a high of 9.06 g/t (0.29 o/t) Au over 1.2 metres. Plans were halted due to the restructuring of Tenneco after it was sold.
Quality Assurance/Quality Control ("QA/QC") Measures, Chain of Custody
The Company has implemented a QA/QC program using best industry practices at the Silver Cliff Property. Drill core samples are sawn in half lengthwise and one half transported in securely-sealed bags to the ALS laboratory in Reno, Nevada, for analysis. Prior to transport, individual samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags that are then shipped. The sample pulps and rejects will be retrieved from ALS. All samples were analyzed for Ag and 50 other elements by ALS method "Ultra Trace Aqua Regia ICP-MS" with code ME-MS41. In the case of Ag determined by this method to be in excess of 100 ppm, a further analysis for Ag was done utilizing method "Ore Grade Aqua Regia ICP-AES" with ALS code Ag-OG46. For the three 5-ft interval samples from K16-01 containing more than 1,500 ppm Ag, the ALS method "Ag 30g FA - GRAV finish WST-SIM" with code Ag- GRA21 was utilized.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, P.Eng, FEC, an independent consulting geologist who is a "Qualified Person" as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About Viscount Mining (TSX VENTURE:VML) (OTCQB:VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 9,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
ON BEHALF OF THE BOARD OF DIRECTORS
Jim MacKenzie, President, CEO and Director
Neither 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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
DoYourDDLikeMe
8 years ago
Viscount drills 50 feet of 26.92 ounces per ton silver.
2016-12-21 09:08 ET - News Release
Mr. Jim MacKenzie reports
VISCOUNT MINING REPORTS HIGH GRADE SILVER INTERCEPT AT ITS SILVER CLIFF PROPERTY IN COLORADO
Viscount Mining Corp. has released first drill results from the Silver Cliff property in the Hardscrabble silver district of Custer county, Colorado. The 2016 drill program that Viscount commenced in mid-November, 2016, had as its primary objective the confirmation of historical drilling and mineral resource documentation on one of the Silver Cliff deposits known as the Kate silver resource. Nine holes for a total of 1,502 feet (457.8 metres) were completed as part of the drill program, and this release is reporting values from K16-01, which was the first hole drilled and assayed at ALS Canada Ltd. at its laboratories in Reno, Nev., and Vancouver, B.C.
Assay results for confirmation hole K16-01 drilled at an inclination of minus 60 degrees averaged 1,778 parts per million (also grams per tonne and which equals 57.2 ounces per ton) over 20 feet (6.1 metres) from 60 feet to 80 feet (18.3 metres to 24.4 metres) of core interval.
Each analyzed sample in this interval represented five feet (1.52 metres).
The 50 feet (15.24 metres) of mineralized core from 55 feet to 105 feet (16.76 metres to 32 metres) averaged 837.35 parts per million (26.92 ounces per ton).
The collar of K16-01 is estimated from historic maps and field evidence to be within four feet (1.2 metres) of historical drill hole DDH 73-2, for which reports show 1,927.7 grams per tonne silver over 13.5 metres (62 ounces per ton over 44.29 feet).
Based on core logging, the mineralization is associated with silica which has replaced locally vuggy limestone of a reef comprising fossilized stromatolites. Viscount's technical team attributes the difference in silver values between 2016 drill hole K16-01 and historical drill hole DDH73-2 to the fact that such replacement typically is not uniform. The mineralized siliceous zone intersected by K16-01 is located at a depth from which it could be mined efficiently utilizing open-pit techniques, and, because the reef appears to be nearly flat lying, there is potential for lateral extensions of the mineralization.
Kaare Foy, Viscount's chairman, stated: "We are extremely pleased with the early results of our 2016 drill campaign at Silver Cliff. The high silver values represent a solid starting point toward addressing our primary goal for Silver Cliff which is to confirm the historical mineral resource and then look to enlarge that resource by extending the drill program outside the perimeter of the original resource on which the preliminary economic assessment was done by Tenneco. Today's release represents a solid cornerstone for this mission, and we look forward to reporting further assays from this program as they become available."
Jim Ebisch, Viscount's project manager for the 2016 drill program, further stated: "Even given the fact that there is a historical silver resource and preliminary economic assessment completed for the Silver Cliff project, we believe the region containing, and immediately surrounding, the Kate silver resource is materially underexplored and the historical resource there could be greatly enhanced in the future with just a few strategically placed drill holes.
The 2016 drilling shows that the silver mineralization (blue-grey mineralization) is hosted predominantly by a gently dipping, silicified carbonate reef that formed during a volcanic hiatus.
The Kate silver resource at this juncture appears to be the result of simple carbonate replacement by silica-rich, silver-/lead-/zinc-bearing fluids adjacent to interpreted deep-seated epithermal veins. These carbonate rock systems replaced by silicification-associated resources are commonly found over large lateral extents and the greatest promise for the Kate silver resource may eventually lie in undiscovered stacked horizons, in combination with high-grade epithermal veins that may underlie the Kate silver resource."
Future exploration work at Silver Cliff's Kate silver resource region will depend on the evaluation of the current confirmatory drill program once all of the assay results have been received and interpreted by Viscount's technical team.
About the Silver Cliff Property
The Silver Cliff property lies within the historic Hardscrabble silver district in Colorado. The property consists of 96 lode claims where high-grade silver, gold and base metal production came from numerous mines during the period 1878 to 1894. It is located 44 miles west-southwest of Pueblo, Colo., and has year-round access by paved road. The property underwent substantial exploration between 1967 and 1984. The major explorers were Freeport, Hecla, Homestake, Moly Corp., Coca Mines and Tenneco Minerals.
The Silver Cliff property is interpreted to encompass a large caldera and porphyry system which offers potential to host a number of deposits from both precious metals to base metals. This has been demonstrated in the mineralogy and grade historically extracted from numerous underground mining operations dating back to the late 1800s and early 1900s.
Drilling in the 1980s by Tenneco resulted in a historical prefeasibility study which formed the company's decision to put the property into production. Known historical silver grades range from below detection to a high of 2,125 grams per tonne (68 ounces per ton) silver over 13.4 metres. Known historical gold grades range from below detection to a high of 9.06 grams per tonne (0.29 ounce per ton) gold over 1.2 metres. Plans were halted due to the restructuring of Tenneco after it was sold.
Quality assurance/quality control measures, chain of custody
The company has implemented a quality assurance/quality control program using best industry practices at the Silver Cliff property. Drill core samples are sawn in half lengthwise and one-half is transported in securely sealed bags to the ALS laboratory in Reno, Nev., for analysis. Prior to transport, individual samples are labelled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags that are then shipped. The sample pulps and rejects will be retrieved from ALS. All samples were analyzed for silver and 50 other elements by ALS method ultratrace aqua regia ICP-MS, with code ME-MS41. In the case of silver determined by this method to be in excess of 100 parts per million, a further analysis for silver was done utilizing method ore grade aqua regia ICP-AES, with ALS code Ag-OG46. For the three five-foot interval samples from K16-01 containing more than 1,500 parts per million, ALS method silver 30-gram fire assay with gravimetric finish WST-SIM, with code Ag-GRA21, was utilized.
Qualified persons
The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, PEng, FEC, an independent consulting geologist who is a qualified person as such term is defined under National Instrument 43-101, Standards of Disclosure for Mineral Projects.
About Viscount Mining
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek comprises more than 9,000 acres, all 100 per cent owned, and includes more than 20 past-producing mines. Silver Cliff in Colorado comprises of 96 lode claims covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
We seek Safe Harbor.
© 2016 Canjex Publishing Ltd. All rights reserved.
kjlars5
8 years ago
11/22/2016 Drilling Update at Viscount's Flint Canyon, Cherry Creek Property in Nevada
http://finance.yahoo.com/news/drilling-viscounts-flint-canyon-cherry-140800666.html
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 22, 2016) - Viscount Mining Corp. (TSX VENTURE:VML)(OTCQB:VLMGF) ("Viscount" or "the Company"), is pleased to provide an update on its flagship Cherry Creek Nevada Property (the "Property"). The Phase 1 drilling commenced at Flint Canyon in early September; and is being managed and funded by Summit Mining Exploration Inc. ("Summit"), a wholly-owned US subsidiary of Sumitomo Corporation, under the Exploration-Earn In Agreement.
The 2016 Phase 4 soil sampling program was completed in late July. A total of 1,250 samples were collected, including those at closer spacing than the 75m by 75m reported in the news release of (August 10, 2016). All were submitted to ALS Global for gold assay and multi-element geochemical analysis. In the central Flint Canyon area, the results reported by Summit show a positive correlation of gold and arsenic to the locations of the jasperoid occurrences and with major faults and regional structures. The soil sample results and geological map data were used for guidance in the drill planning.
A reverse circulation (RC) drill plan was made based on soil anomalies, geologic mapping, and targeting of the jasperoid outcrops. The initial drill program that was reported in the news release of (September 7, 2016) was for 18 holes from 12 drill sites for total of 14,366 feet (4,380 m).
The revised drill plan is for 34 holes from 11 sites for 24,000 feet (7,317 m). Drilling has progressed well and is continuing due to good weather, ground conditions, and short drill rig moves. Currently the program is expected to continue to the end of November.
A map showing the new roads and drill pads at Flint Canyon may be consulted using the following link: http://media3.marketwire.com/docs/Flint_Cayon_Road_and_Drill_Pad_Map.jpg
Mark Abrams, Viscount Technical Advisory Board, stated: "Summit has conducted a very well planned and executed exploration program to date at Flint Canyon. My initial examination of Flint Canyon drill samples shows features typically associated with a Carlin-type gold deposit, including silicification and disseminated fine grained pyrite which are present. We look forward to the continued testing of targets on the property and the analysis of the lab results that will follow."
About Flint Canyon
The 2015 and 2016 mapping at Flint Canyon found the faulting to be more complex than previously indicated on the Adair 1961 geologic base map. Summit's mapping program found that east-west orientated faults and fractures, which are important ore controlling structures at the Ticup and Star Mines, also occur in the area. The Flint Canyon area contains highly dissected fault blocks of the Dunderberg Shale with the underlying Marjum Limestone and overlying Notch Peak Limestone. The Pogonip Formation overlies the Notch Peak and both units are important host rocks for Carlin-type gold mineralization in east-central Nevada.
Jasperoid occurrences in Nevada are extremely significant in context to Carlin-type gold deposits and mineralized jasperoid outcrops are common throughout the Flint Canyon area. They occur principally along the base of the Dunderberg Shale, but other outcrops are found along the Pogonip-Notch Peak contact. Many major gold discoveries have been made based on the presence of outcropping, weakly mineralized jasperoid hosted in and along bedding contacts of carbonate rocks. At Flint Canyon, jasperoid is found in the same carbonate rocks that are prolific host rocks at nearby large gold deposits (Newmont Mining-Long Canyon and Kinross Gold Corporation-Bald Mountain deposits).
The jasperoid beds, interpreted as west dipping tabular features, occur along the base of the Dunderberg Shale and within the Pogonip group limestone. Summit's geological team indicates that the Dunderberg Shale is generally recessive and is exposed mainly along the outcropping contacts with more competent rocks. The Dunderberg appears to be moderately altered throughout its distribution, and, at Flint Canyon, it experienced widespread and significant alteration by hydrothermal fluids. The underlying Marjum Limestone is usually competent and unaltered, while the overlying Pogonip exhibits variable alteration.
Mineralization identified by this work is hosted within and extending out from silica bodies known as jasperoids formed at the Pogonip Limestone/Notch Peak Limestone contact, within the Dunderberg Shale, and within and extending out from jasperoids formed at the Dunderberg Shale/Marjum Limestone contact. Jasperoids form from silica and iron replacement of the limey component of rocks when warm springs carrying silica, iron and potentially metals such as gold circulate through the rock column. As the silica and iron rich waters percolate through the rock, the limey component of the rock dissolves, migrates away and redeposits as calcite veins (calcium carbonate) in areas outboard of the warm spring waters. The host rock, depending on its content of limey material, may form caves or even collapse as the limey component is flushed out. Collapse features have been noted in outcrop and in new road cuts in the anomaly areas of Flint Canyon. This event makes the rock more permeable and allows even more silica rich waters to flow in. As the waters flush in they begin to deposit silica and iron as jasperoids. Gold deposition can occur as part of this process and, in fact, has at Flint Canyon.
The Cherry Creek district, including Flint Canyon, is cut by very deep seated fault structures. These faults would have provided a very good plumbing system that allowed mineralizing waters to circulate through the rock column over a large area. In looking at the gold mineralized rock at Flint Canyon, one can see more than one event of silica, iron and likely gold introduction into the rock. Multiple events like this have been known to drive up the gold grade at other projects and may also have done so at Flint Canyon.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, P.Eng, FEC, an independent consulting geologist who is a "Qualified Person" as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
The exploration and drill programs are being managed by David Tretbar, Summit Exploration's Executive Vice President, Exploration and Mineral Resources, a Qualified Person as defined by NI 43-101. Mr. Tretbar is a registered Professional Geologist in Arizona (#48036) and a Certified Professional Geologist (CPG #11086) with the American Institute of Professional Geologists. Mr. Tretbar holds a Master's Degree in Geochemistry from the Mackay School of Mines, University of Nevada Reno.
About Viscount Mining (TSX VENTURE:VML) (VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 9,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
About Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in businesses from the information industry to the retailing industry. Summit Mining Exploration, Inc. is a wholly-owned subsidiary of Sumitomo Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp
ON BEHALF OF THE BOARD OF DIRECTORS
Jim MacKenzie, President, CEO and Director
Neither 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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
kjlars5
8 years ago
Viscount Mining Commences Drilling on the Silver Cliff Property in Colorado 11/16/2016
http://finance.yahoo.com/news/viscount-mining-commences-drilling-silver-140800539.html
Viscount Mining Commences Drilling on the Silver Cliff Property in Colorado
Marketwired MarketwiredNovember 16, 2016Comment
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 16, 2016) - Viscount Mining Corp. (TSX VENTURE:VML)(OTCQB:VLMGF) ("Viscount" or "the Company"), is pleased to announce it has commenced drilling of its Silver Cliff property in the Hardscrabble Silver District in Custer County, Colorado (the "Property"). The drill program has the objective of confirming the historical documentation on one of the Silver Cliff deposits known as "Kate" and will also include angle holes which will test steeply dipping mineralized structures that have the potential for enhancing historical estimates based on vertical holes that tested flat-lying mineralized bodies.
In late July 2016, the Company completed over thirty line-miles of magnetic geophysical surveying. The resulting extensive data package has subsequently been compiled and clearly shows a good correlation between high magnetic responses and silver mineralization encountered by historical drilling. Not only do the high magnetic responses correlate with known silver mineralization, but there also are other high response zones that remain untested by the drilling.
In this first phase of core drilling, the Company intends to complete 10 holes totaling 2,000 feet (610 m). This program will begin to define the deposits. As stated in previous news releases, the Company on the basis of historical estimates has a target of 40 to 50 million ounces of silver on the Property. However, potential quantity and grade is conceptual in nature, as there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Recent preliminary results of representative, continuous rock chip sampling and geological mapping at a scale of 1:240 around the perimeter of the 7960 bench in the existing aggregate pit shows that silver, manganese, lead, zinc, gallium, and indium are present. Only recently have indium and gallium become of great importance, with indium used in LCD televisions and computer monitors, and, gallium in medical devices, microwave circuits, high-speed switching circuits and infrared circuits. Semi-conductive gallium nitride and indium gallium nitride produce blue and violet light-emitting diodes (LED lights) and diode lasers.
Detailed geologic mapping at a scale of 1:1000 by Viscount geologists done in the vicinity of the Kate Deposit suggests that the polymetallic resource may be a combination of epithermal vein and a carbonate replacement deposit. Previous work considered the Kate Deposit to be of supergene origin. Supergene processes of enrichment produce ore deposits that occur relatively near the surface as opposed to hypogene processes which occur deeper below the earth's surface and result in deposits that are much later discovered after being exposed by erosion and by drilling.
The detailed mapping completed in October 2016 revealed a previously undocumented, silicified carbonate reef complex. The silicification indicates replacement by hydrothermal fluids. Further, both the Kate Deposit and the silicified carbonate reef occupy the same stratigraphic position, directly above an obsidian bed. If the carbonate reef was completely replaced by silica, it would be a very brittle rock, easily shattered by minor tectonic adjustments, creating a breccia whose matrix could become mineralized by hydrothermal fluids from an epi- or hypothermal feeder vein. The discovery of the carbonate reef complex has yielded a completely different genetic model for the Kate Deposit than that proposed by previous geologists.
Jim MacKenzie, Viscount President and CEO stated: "We are very pleased with the ongoing work program at Silver Cliff. With the detailed mapping just completed revealing a previously undocumented new reef complex, we made the decision to adjust the drilling schedule to further investigate this new reef. We are very excited as this newly identified complex represents a possible expansion of Silver Cliff."
About Silver Cliff Property
The Silver Cliff property lies within the historic Hardscrabble Silver District in Colorado. The Property consists of 96 lode claims where high grade silver, gold and base metal production came from numerous mines during the period 1878 to 1894. It is located 44 miles WSW of Pueblo Colorado and has year-around access by paved road. The property underwent substantial exploration between 1967 and 1984 for the purpose of defining mineral inventories. The major explorers were Freeport, Hecla, Homestake, Moly Corp, Coca Mines and Tenneco Minerals.
Silver Cliff is thought to overlie a large caldera and porphyry system which increases the prospect's potential to host a number of deposits from both precious metals to base metals. This has been demonstrated in the mineralogy and grade historically extracted from numerous underground mining operations dating back to the late 1800s and early 1900s.
Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study which formed the company's decision to put the property into production. Known historical silver grades range from below detection to a high of 2,125 g/t (68 o/t) Ag over 13.4 metres. Known historical gold grades range from below detection to a high of 9.06 g/t (0.29 o/t) Au over 1.2 metres. Plans were halted due to the restructuring of Tenneco after it was sold.
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, P.Eng, FEC, an independent consulting geologist who is a "Qualified Person" as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
About Viscount Mining (TSX VENTURE:VML) (VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 9,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
ON BEHALF OF THE BOARD OF DIRECTORS
Jim MacKenzie, President, CEO and Director
Neither 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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
DoYourDDLikeMe
8 years ago
2016-09-13 - Silver Cliff "Mag" Survey lines up with drilling
News Release
Mr. Jim MacKenzie reports
VISCOUNT ANNOUNCES STRONG MAGNETIC CORRELATION WITH KNOWN SILVER MINERALIZATION AND DISCOVERY OF UNTESTED DRILL TARGETS AT SILVER CLIFF, COLORADO
Viscount Mining Corp. has provided an update on field exploration and preparations for drilling at Silver Cliff, Colo.
The exploration currently under way as announced on July 6, 2016, is to facilitate a confirmation of historic drill holes for a core drill program planned for September, 2016. This program is intended to help define the structural setting that controls silver mineralization and other possibly economic commodities.
In late July, 2016, the company completed over 30 line miles of magnetic geophysical surveying. The resulting extensive data package has subsequently been compiled and clearly shows a good correlation between high magnetic responses and silver mineralization encountered by historical drilling. Not only do the high magnetic responses correlate with known silver mineralization, but there also are other high response zones that remain open or untested by drilling. These represent areas to target for discovery of extensions to reported mineral inventories and additional zones of mineralization.
The activities at Silver Cliff currently continuing are:
Detailed geological mapping and sampling to verify previous historical work and geochemical assays;
Acquisition of additional maps and data to supplement the company's extensive knowledge base;
Preparations for a phase one drill program planned for September, 2016;
Digitalization of all critical information for use in an upcoming National Instrument 43-101 technical report.
Past drilling at Silver Cliff was designed to test only the flat-lying shallow mineralized bodies with vertical holes but not the high-angle mineralized structures which are now interpreted to be the ultimate controls for ore emplacement. This indicates that follow-up drill programs need to include angle holes which will test these mineralized structures.
Drilling in the 1980s by Tenneco resulted in a historical prefeasibility study which formed the company's decision to put the property into production. Plans were halted due to the restructuring of Tenneco after it was sold.
The Silver Cliff claim block is thought to overlie a large caldera and porphyry system which increases the potential to host a number of deposit types ranging from precious metals to base metals. This has been demonstrated in the mineralogy and grades reported in historical documents describing a number of underground mining operations dating back to the late 1800s and early 1900s.
Jim MacKenzie, the company's president and chief executive officer, stated: "We are very excited to see Silver Cliff progressing forward at this accelerated pace. The upcoming drilling is expected to be a major step in moving Silver Cliff toward being a premier silver property in the Western U.S."
The company further announces that pursuant to the company's stock option plan it wishes to grant 300,000 stock options at a price of 57 cents per common share to three directors of the company. As per the company's stock option plan, the options granted are exercisable until Sept. 8, 2021. Grant of the options is subject to the approval of the TSX Venture Exchange.
About Silver Cliff property
The Silver Cliff property lies within the historic Hardscrabble silver district in Colorado. The property consists of 96 lode claims where high-grade silver, gold and base metal production came from numerous mines during the period 1878 to 1894. It is located 44 miles west-southwest of Pueblo, Colo., and has year-around access by paved road. The property underwent substantial exploration between 1967 and 1984 for the purpose of defining mineral inventories. The major explorers were Freeport, Hecla, Homestake, Moly Corp., Coca Mines and Tenneco Minerals. Based on historical reports, 40 million to 50 million ounces of silver are considered reasonable to target with the planned and successive phases of drilling, however, this potential quantity is conceptual in nature and it is uncertain whether further exploration will result in the targeted quantity being delineated as a mineral resource.
Qualified persons
The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, PEng, FEC, an independent consulting geologist who is a qualified person as such term is defined under National Instrument 43-101 -- standards of disclosure for mineral projects.
About Viscount Mining
Viscount Mining has a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek comprises more than 10,000 acres, all 100 per cent owned, and includes more than 20 past-producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corp. covering the Cherry Creek property. Sumitomo can earn in up to a 75-per-cent interest in the property by producing a feasibility study and by spending in addition a minimum of $10-million (U.S.) in exploration and development expenses by the eighth anniversary of the earn-in agreement.
We seek Safe Harbor.
© 2016 Canjex Publishing Ltd. All rights reserved.
DoYourDDLikeMe
8 years ago
2016-09-07 Drilling has Commenced at Viscount’s Flint Canyon, Cherry Creek Property in Nevada -
Viscount Mining Corp PRESS RELEASE September 7, 2016
VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or “the Company”), is pleased to provide an update on its flagship Cherry Creek Nevada Property (the “Property”). The Phase 1 drilling has commenced at Flint Canyon and is being managed and funded by Summit Mining Exploration Inc. (“Summit”), a wholly-owned US subsidiary of Sumitomo Corporation, under the Exploration-Earn In Agreement.
Phase 1 Reverse Circulation (RC) Drilling Program at Flint Canyon
Drilling has begun at Flint Canyon and is being conducted by Boart Longyear of Salt Lake City, Utah. The Global Drilling Services Division of Boart Longyear, founded in 1888, operates in over 30 countries for a diverse mining customer base, spanning a wide range of commodities, including gold, silver copper, nickel, zinc, uranium, and other metals and minerals.
The drill program will comprise approximately 18 reverse circulation (“RC”) holes totaling 14,366 feet (4,380 m). The Flint Canyon area contains highly dissected fault blocks of the Dunderberg Shale with the underlying Marjum Limestone and overlying Notch Peak Limestone. The Pogonip Formation overlies the Notch Peak and both units are important host rocks for Carlin-type gold mineralization in east-central Nevada. Assay results will be released as they become available from ALS Labs Limited of Elko, Nevada.
Mark Abrams of the Viscount Technical Advisory Board, who was recognized for his work on developing the Pequop Trend where Cherry Creek is located in eastern Nevada, stated, “In my experience, the well-developed plumbing system, the large size and amount of the jasperoids, the amount of altered rock and the focused nature of the soil anomalies combine to make the drill targets as compelling as any I have seen elsewhere at important projects and mines in eastern Nevada. This bodes well for the project. Flint Canyon has continued to deliver exceptional results and I am very enthusiastic about the current drill program.”
Property Road Access Improvements
Road contractor Legarza Exploration & Construction has completed construction on the 6700 ft. new access road and nine drill pads at Flint Canyon.
About Flint Canyon
The 2015 and 2016 mapping at Flint Canyon found the faulting to be more complex than previously indicated on the Adair 1961 geologic base map. Summit’s mapping program found that east-west orientated faults and fractures, which are important ore controlling structures at the Ticup and Star Mines, also occur in the area. The Flint Canyon area contains highly dissected fault blocks of the Dunderberg Shale with the underlying Marjum Limestone and overlying Notch Peak Limestone. The Pogonip Formation overlies the Notch Peak and both units are important host rocks for Carlin-type gold mineralization in east-central Nevada.
Jasperoid occurrences in Nevada are extremely significant in context to Carlin-type gold deposits and mineralized jasperoid outcrops are common throughout the Flint Canyon area. They occur principally along the base of the Dunderberg Shale, but other outcrops are found along the Pogonip-Notch Peak contact. Many major gold discoveries have been made based on the presence of outcropping, weakly mineralized jasperoid hosted in and along bedding contacts of carbonate rocks. At Flint Canyon, jasperoid is found in the same carbonate rocks that are prolific host rocks at nearby large gold deposits (Newmont Mining-Long Canyon and Kinross Gold Corporation-Bald Mountain deposits).
The jasperoid beds, interpreted as west dipping tabular features, occur along the base of the Dunderberg Shale and within the Pogonip group limestone. Summit’s geological team indicates that the Dunderberg Shale is generally recessive and is exposed mainly along the outcropping contacts with more competent rocks. The Dunderberg appears to be moderately altered throughout its distribution, and, at Flint Canyon, it experienced widespread and significant alteration by hydrothermal fluids. The underlying Marjum Limestone is usually competent and unaltered, while the overlying Pogonip exhibits variable alteration.
Mineralization identified by this work is hosted within and extending out from silica bodies known as jasperoids formed at the Pogonip Limestone/Notch Peak Limestone contact, within the Dunderberg Shale, and within and extending out from jasperoids formed at the Dunderberg Shale/Marjum Limestone contact. Jasperoids form from silica and iron replacement of the limey component of rocks when warm springs carrying silica, iron and potentially metals such as gold circulate through the rock column. As the silica and iron rich waters percolate through the rock, the limey component of the rock dissolves, migrates away and redeposits as calcite veins (calcium carbonate) in areas outboard of the warm spring waters. The host rock, depending on its content of limey material, may form caves or even collapse as the limey component is flushed out. Collapse features have been noted in outcrop and in new road cuts in the anomaly areas of Flint Canyon. This event makes the rock more permeable and allows even more silica rich waters to flow in. As the waters flush in they begin to deposit silica and iron as jasperoids. Gold deposition can occur as part of this process and, in fact, has at Flint Canyon.
The Cherry Creek district, including Flint Canyon, is cut by very deep seated fault structures. These faults would have provided a very good plumbing system that allowed – mineralizing waters to circulate through the rock column over a large area. In looking at the gold mineralized rock at Flint Canyon, one can see more than one event of silica, iron and likely gold introduction into the rock. Multiple events like this have been known to drive up the gold grade at other projects and may also have done so at Flint Canyon.
Jim MacKenzie, Viscount President and CEO stated: “We are very pleased with completion of the new road and the commencement of the first drill program at Flint Canyon, which we anticipate will validate the soil and rock samples from the previous work programs. Based on the history of Carlin type deposits, we feel it has the potential to host large bodies of mineralization.”
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, P.Eng, FEC, an independent consulting geologist who is a “Qualified Person” as such term is defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
The exploration and drill programs are being managed by David Tretbar, Summit Exploration’s Executive Vice President, Exploration and Mineral Resources, a Qualified Person as defined by NI 43-101. Mr. Tretbar is a registered Professional Geologist in Arizona (#48036) and a Certified Professional Geologist (CPG #11086) with the American Institute of Professional Geologists. Mr. Tretbar holds a Master’s Degree in Geochemistry from the Mackay School of Mines, University of Nevada Reno.
The Company further announces that it has granted 255,000 stock options to consultants of the Company. The option grants will vest immediately and as per the Company’s Stock Option Plan, the options granted are exercisable until August 8, 2021. Grant of the options is subject to the approval of the TSX Venture Exchange.
About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 9,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
For additional information regarding the above noted property and other corporate information, please visit the Company’s website at www.viscountmining.com
About Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in businesses from the information industry to the retailing industry. Summit Mining Exploration, Inc. is a wholly-owned subsidiary of Sumitomo Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim MacKenzie”
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
Neither 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.
Forward-Looking Statements
This news release contains certain statements that may be deemed “forward-looking” statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
DoYourDDLikeMe
8 years ago
The 1st mos. of drilling is almost complete at Cherry Creek, Nevada in the Flint Canyon portion of that project. Drilling at the Silver Cliff Colorado Project is expected to commence by or before month end October following up Hecla-Tenneco's historical resource drilling of the 1980's. Aside from VML/VLMGF's web-site, below is a helpful overview.
(TSX VENTURE: VML) (OTCQB: VLMGF) Viscount Mining is an exploration company with 2 significant drill projects in prime locations in the Western United States, one primarily for gold in Nevada and the other for silver in Colorado. A history of previous news releases are posted on the forum for your perusal.
The 1st project is their Cherry Creek, Nevada Gold Project that commenced being drilled Sept. 7th, 2016 with $30+ Bn EARN IN PARTNER Sumitomo Corp.
Cherry Creek is comprised of more than 9,000 acres and is surrounded by Newmont Mining (NYSE: NEM) and McEwen Mining (NYSE:MUX).
This ground was only recently consolidated into single ownership by Viscount from 5 families that held approx 3,000 of its acres back as far as the 1850's.
There is a unique earn in agreement with Sumitomo and of note, this is their only North American exploration project. (http://www.sumitomocorp.co.jp/english/business/)
The land package here includes 20 past producing mines: Mascot, Chief of Hill, Big Giant, Little Giant, Ben Butler, Exchequer, Imperial/ New Century, Star Mine, Filmore, Ticup / Motherlode, Pick & Gad, Gray Eagle, National Mine, Old Imperial, Blue Bird, Only Chance, Silver Creek, and the Logan Mine.
Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement.
Cherry Creek offers investors a superior jurisdiction with its optimal positioning in Nevada, the largest gold producing region in the US with 73% of all US gold production in 2014. Nevada is now ranked as the 4th largest gold producing jurisdiction in the world.
Viscount c/o its Earn In Agreement bears zero expenditure at Cherry Creek giving Viscount significant financial flexibility de-risking its stock from high expenditures and the need to raise funding.
Viscount's 2nd project is their 100% owned Silver Cliff, Colorado Project that is slated for drilling October - November, 2016. "While Sumitomo manages the Cherry Creek property, Viscount is completing phase 1 exploration of Silver Cliff which is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
Silver, gold, and base metal production came from numerous mines during the late 1800s. The property again underwent substantial drilling in the 1980s by Hecla Mining and Tenneco, resulting in a historic pre-feasibility study, which led to the Company's decision to put the property into production.
Subsequently a change of control and direction at Tenneco led to the stalling of the partnership and the project has been halted until present day when Viscount negotiated terms and resurrected the project thanks to access of historical records.
The goal of pending drilling is to confirm the estimated 50 million ounce historical silver resource that reported grades as high as 2,215 g/t silver and 9.06 g/t gold. If Viscount is able to verify the accuracy of this historical resource, then its certainly large enough to move the needle for a major silver producer should Viscount choose to go the Earn in and/or JV route on it.
In late March 2016, prior to the completion of a 2 stage $2.3 M CDN Financing in June, 2016 at $0.50 CDN per share, an introductory article came out from well regarded mining and geologist commentarist Gwen Preston entitled “ Sumitomo’s quest for gold via Viscount’s Cherry Creek” http://bit.ly/1Vk1MuD . Initiation of research coverage commenced August 10th and August 22nd, 2016 and can be read cutting and pasting the following links http://bit.ly/2bLkZ59 and http://bit.ly/2buei6A into your browser. These are extremely helpful for Due Diligence.
For specific information regarding the above noted properties and other corporate info., visit the Company's website at www.viscountmining.com
See https://en.wikipedia.org/wiki/Silver_mining_in_Colorado for general historical information on mining in Colorado and https://binged.it/2cXXk3S to find Silver Cliff on a map of Colorado.
About Cherry Creek Earn In Partner Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in businesses from the information industry to the retailing industry. Summit Mining Exploration, Inc. is a wholly-owned subsidiary of Sumitomo Corporation and is headquartered in Colorado, USA.
Sumitomo operates through five business segments:
1. Metal Products, Transportation & Construction Systems
2. Environment & Infrastructure
3. Media, Network, Lifestyle Related Goods & Services
4. Mineral Resources, Energy, Chemical & Electronics
• Global Revenue of $38.92B – EBITDA: $2.09B – Cash on hand: 8.12B
• Sumitomo has a market cap of $13.65B
• Sumitomo worldwide workforce is 66,860 (As of March 31, 2016)
• Operates in 66 countries with 110 offices
For more information about Sumitomo Corporation, visit http://www.sumitomocorp.co.jp/english/business/
News
Market Data
Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.
Ask ADVFN Intelligence (AI)
SantaZar
4 months ago
