Vancouver, British Columbia – (Newsfile Corp. – November 3, 2021) – Viscount Mining Corp. (TSXV: VML) (OTCQX: VLMGF) (“Vicomte or “the Company”) is pleased to announce that it has received the results of its third phase of the rock chip program on its Silver Cliff property in Colorado.
The results highlighted include:
28 samples grading more than 100 g / t silver.
18 samples grading more than 200 g / t silver.
4 samples grading more than 550 g / t silver including 1330 g / t and 737 g / t in the North Kate sector and 692 g / t and 560 g / t in the Passiflora south sector.
Phase 3 of Viscount Mining‘s Silver Cliff drill program comprising 13 holes over 881 meters was recently completed and all core samples have been shipped and are being analyzed. As part of Viscount’s Phase 3 drill program, 50 surface rock chip samples were collected around the Kate deposit, Passiflora and surrounding areas. Most of these samples were collected from shallow, century-old mining pits scattered throughout the Silver Cliff area. A map showing the silver concentration of each of these 124 surface samples, including 74 local rock chip samples collected in 2013 is shown below.
Concentration of money and locations
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Twenty-eight (28) of these rock chip samples collected at the surface tested over 100 g / t silver, with the highest test sample grading 1330 g / t silver. The presence of such high-grade silver deposits, revealed to the surface by shallow and abandoned pits, holds great promise for a possible open pit mine. Many of these higher test samples were taken from two locations: the southwest of Passiflora and the northern area of the Kate deposit and its extension.
In the southwestern Passiflora region, silver concentrations in collected rock chip samples ranged from 122 G / T to 692 G / T. Although Viscount has done smaller drilling in Passiflora, most of the promising mineralization and assay values come from holes drilled in this southwestern 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 analyzed. An internal CoCa Mines report 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 ratio of 256 g / t silver and 1.4 g / t gold. Viscount drilled four holes in Passiflora in 2020/21 at depths greater than 193 m which showed silver anomalies overall, anomalous gold as well as strong alteration and pyritization of silica and l clay on most holes. Duval Mining geologists had identified a shallow quartz monzonite near the Passiflora mine. Quartz monzonite is a rock that is also commonly associated with porphyry ore deposits. The additional holes at the Passiflora aim to identify 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 tests (737 and 1330 G / T), on land outside the current extent of the deposit as defined by Dr. Gilles Arseneau in 2018. The report entitled 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 d ‘Arseneau Consulting Services (“ACS”) in accordance with the Defining Standards of the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) incorporated by reference in National Instrument 43-101 (“NI 43-101 ”) For his Silver Cliff property in Colorado.
These results support a possible expansion of the deposit, particularly near the surface, both to the west and to the northeast. These are areas that were drilled during the third phase. While waiting for the results of the core, this collection of results of fragments of rocks on the surface gives us an overview of the expansion of silver resources as defined by Dr. Gilles Arseneau in 2018 and for the preparation of the drilling program of the phase 4.
Jacob Hooker, Director of Exploration commented: “The completion of the Phase 3 drilling was designed to test outside the boundaries of the Kate deposit. Upon receipt of the drilling results correlated with the soil samples, the final phase 4 of drilling will be designed to deepen the understanding of the Kate deposit. The goal of expanding our NI 43-101 resource is to meet and exceed business expectations. “
Tenneco Minerals leased the Kate property in 1987. They had previous drill data, which was the results of 11,930 meters in 249 drill holes that had been completed since 1968. In the next two years, Tenneco drilled an additional 143 holes totaling 7,949 meters. Based on the accumulated data and the feasibility study, Tenneco Minerals made the decision with silver at US $ 5.00 per ounce to build at that time a grinding operation of $ 35,000,000. US for the extraction of silver reserves at Silver Cliff. Soon after, Tenneco’s parent company was sold and the planned grinding operation was abandoned.
The scientific and technical information contained in this press release has been reviewed and approved by Harald Hoegberg PG, an independent consulting geologist who is a “qualified person” (QP) as that term is defined in National Instrument 43-101. – Disclosure standards for mining projects (“NI 43-101”).
About Viscount Mining (TSXV: VML) (OTCQX: VLMGF)
Viscount mining is a project generator and 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 is located in the historic Hardscrabble Silver district in the Wet Mountain Valley in Custer County in south-central Colorado. It is located 44 miles WSW from Pueblo, Colorado, and is accessible year round by an asphalt road. The property consists of 96 lode claims where production of silver, gold and high-grade base metals came from numerous mines during the period from 1878 to the early 1900s. of significant exploration between 1967 and 1984.
The property is interpreted to encompass part of a large caldera and a strongly altered sequence of Tertiary rhyolitic flows and fragmentary units that have the potential to host precious and base metal deposits. This has been demonstrated in the mineralization historically mined from numerous underground and surface mining operations. Drilling carried out in the 1980s by Tenneco resulted in a historic pre-feasibility study on the basis of which it was planned to bring the property into production. The plan was abandoned following a takeover by another company.
The Cherry Creek exploration property is located in an area commonly referred to as the Cherry Creek Mining District, located approximately 50 miles north of the town of Ely, in White Pine County, Nevada. Cherry Creek consists of 578 unpatented claims and 17 patented claims as well as factory rights. Cherry Creek includes more than 20 old mines in production. In January 2021, Viscount entered into an exploration gain agreement with a wholly owned subsidiary of Centerra Gold Inc. Centerra is a Canadian gold company focused on the exploitation, development, exploration and acquisition of gold properties in North America, Asia and other markets around the world.
For more information regarding the aforementioned property and other company information, please visit the company’s website at www.viscountmining.com
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim Mac Kenzie”
President, CEO and Director
For more information, please contact:
Viscount Investor Relations
Email: [email protected]
This press release includes certain statements that may be considered “forward-looking statements” within the meaning of applicable Canadian securities laws. Forward-looking statements include, without limitation, statements regarding operations, exploration and development plans, expansion plans, estimates, expectations, forecasts, objectives, predictions and projections of the future of Viscount Mining. Specifically, this press release contains forward-looking statements regarding the Offer, the receipt of required approvals, the timing thereof, and the amount and use of proceeds therefrom. Generally, forward-looking statements may be identified by forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “expected”, “estimates”. “,” Plans “,” intends “,” anticipates “or” does not anticipate “, or” believes “, or” variations of these words and expressions or state that certain actions, events or results “may” , “may”, “could”, “would”, “could” or “will be“ taken ”,“ occur ”or“ be achieved. ”Forward-looking statements are subject to known and unknown risks, uncertainties and ” other factors which may cause the actual results, level of activity, performance or achievements of Viscount Mining to differ materially 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 Visc projects ount Mining, actual results of current exploration, development activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of precious metals, as well as the factors discussed in the sections relating to our business risk factors filed in the required securities filing documents of Viscount Mining 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 differ materially from those anticipated, described. , estimated, evaluated or planned.
There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking statements. Viscount Mining does not undertake to update any forward-looking statements which are incorporated by reference herein, except in accordance with applicable securities laws.
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