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Cherry Creek Nevada

Summary

Viscount’s flagship property is focused on exploratory mining operations in the immediate vicinity of an area commonly known as the Cherry Creek Project, located approximately 30 miles north of the town of Ely, in White Pine County, Nevada.

 

The Cherry Creek claims currently consist of over 400 unpatented and patented claims as well as mill rights. Viscount has acquired all rights by purchasing the from the owners the patented claims which, allow Viscount the exclusive rights to prospect and explore for, mine by underground or open pit methods, mill, prepare for market, store, sell and dispose of all ores and minerals on or under the described properties.

 

Viscount has also acquired over 20 past silver / gold / tungsten producing mines including Blue Bird, Chance Mine, Filmore, Last Chance, Exchequer/ New Century Mine, Ticup and Motherlode mines.

 

Geologically, most of the mines are located in numerous Precambrian to Triassic aged quartzites, shales, limestones and dolomites as vein deposits, mostly in the Prospect Mountain Quartzite and the Cambrian Carbonate Formations. One of our project’s goals is focused on exploring the extensions of major veins in the district.

 

The three past important mines located in the Cherry Creek project are the Ticup, New Century / Exchequer and Star Mines. Because these three large past producing mines and the numerous smaller mine can indicate a possible hidden large mineral system related to a buried acid intrusive pluton Viscount staked all of the prospective ground between and adjacent to the old mines and prospects. This is the first time the all of the ground is under one company.

Flint Canyon

 

Summit recognizes that Viscount’s Flint Canyon area exhibits alteration and mineralization characteristic of Carlin-type gold deposits. The exploration program in 2016 will start at Flint Canyon, a Carlin-type gold deposit, in Cherry Creek with a soil sampling combined with continued detailed geologic mapping and drilling.

 

The 2015 mapping at Flint Canyon found the area to be much more complexly faulted 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 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 Newmont Mining’s nearby Long Canyon gold deposit.

 

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 indicated 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.

 

The Flint Canyon jasperoid and carbonate rock chip samples are highly anomalous in gold mineralization. Of the 203 rock samples collected in the Flint Canyon domain (includes northern Lead Mine Canyon):

 

• Maximum gold grade of 3.83 g/t Au, or (0.123 o/t) Au

 

• 6 samples > 1.0 g/t Au

 

• 51 samples > 0.1 g/t Au

 

• 81 samples > 0.05 g/t Au (50 ppb Au), the lower threshold for significant gold value.

 

Exchequer/New Century Mines

and Star/Grey Eagle Mines

 

Recent mapping and sampling by the project geologists have verified the anomalous gold in this area, from the Star Mine up to and past the Grey Eagle vein which is subparallel to the Exchequer vein.  Since the Star structure strikes northwest, it may extend to the Exchequer vein. Therefore, the potential target area extends from the Star Mine to the Exchequer structure. The drill programs will test the possibility of a major deep seated gold-silver and base metals deposit in this general mineralized area. This could become a significant new area with economic grade mineralization. With the possibility of connecting the three past producing mines underground, could mean a significant cost saving in mining if an economic grade deposit is discovered.

 

• The 2016 program at Exchequer/New Century Mines and Star/Grey Eagle Mines is as follows:

 

• Satellite imagery – high resolution satellite imaging of the entire property and generation of rectified 1m topography to be loaded to Vulcan and ArcGIS programs.

 

• Detailed mapping and interpretation of faulting and structures and develop a structural & lithological reconstruction model of the Cherry Creek range.

 

• Transfer mapping and sampling data from ArcGIS to the Vulcan program to allow for dimensional geological interpretation and modeling.

 

• Submit drilling plan for permitting at Star/Gray Eagle Mines, and Exchequer/New Century Mines.

 

• Property-wide drilling budgeted for 32 holes at 24,000 feet (7320 m).

 

 

 

History

Numerous exploration and mining activities were conducted in the past at Cherry Creek up to 1964. These activities were primarily focused on silver/gold with associated base metals and tungsten. The Cherry Creek district contains patented land ownership from most of the older mines in the area. Numerous archival mine reports and history have been identified for the Cherry Creek District in NBMG Bulletin 85. Numerous mines exist in the district and exploited silver, gold with base metals and tungsten in the late 19th and early 20th century. A photo of the Cherry Creek area is located in Figure 1.

 

Cherry Creek

Here at one time was the largest town in White Pine County, part of the Cherry Creek Mining District. Cherry Creek's main years of gold and silver production were between 1872 and 1883. At the peak of its prosperity, the town had an estimated population of 6,000.

 

 

 

 

 

 

 

 

 

 

Cherry Creek District began operations in 1861 with production continuing until 1940. For more information: NBMG Bulletin 85, Pg 47-49, NBMG Bulletin 14, Pg 31.

 

 

 

 

 

 

 

 

 

 

Ownership History

A company of volunteer soldiers under a Captain Tober discovered a gold-silver bearing quartz vein in the area at Egan Canyon, approximately 5 miles south of the subject claims, possibly as early as 1861. In 1863, some early mining started in the Gold (Egan) Canyon. The Gilligan mine was developed in 1863, the production from which was processed in the first mill in Nevada constructed in 1864. Silver was and still is the principal economic metal in the area; however gold associated with the silver has also provided significant economic returns. By 1866 both a 5-stamp and a 10-stamp mill were operating. In 1869 a 20-stamp mill was built at the head of Egan Canyon to treat the silver ores, there were now by this time three mills operating in the area.

 

The first mine in the Cherry Creek area was the Ticup, discovered in 1872. This initial discovery brought an immediate rush of prospectors to the area. Following on from the Ticup were the Star, Exchequer and Grey Eagle mines. The town of Cherry Creek, located at the mouth of Cherry Creek Canyon was formed in 1873 with an early population in the range of 400 by this time seven mines were operating. This initial production era stopped in 1875 with a general downturn in the US economy.

 

The next period of significant mining production began in 1880. At its peak, around 1882, the town had a transient population of 6000 and 1800 permanent residents. New claims were developed at the Ticup and Exchequer mines and by 1874 there were a reported twenty mines of various production rates in operation. In that year a major fire led to the closure of the Star Mine.

 

The initial production focus was silver chloride, evidenced at the surface by muddy yellow-grey stains. This type of silver ore could be smelted directly. Later siliceous and sulphide ores became more evident and more difficult to treat by direct smelting. A combination of low silver prices, the higher cost of mining and recovering silver from the deeper sulphide ores, and a continuation of low economic growth in the US and Europe led, by end 1885, to the closure of the mines in the district.

 

In 1905 a return to production was experienced in the Cherry Creek area. The Ticup, Exchequer, and Star Mines were reopened and production began at two new mines, the National and the New Century. An extension of the Northern Nevada Railway through Cherry Creek was opened in 1906; however production from the area again faded by 1910 with some of the mines only operating at a very small scale. The Penns Star Mining Company built a flotation mill to process the sulphide ores that continued to process ores through to 1921.

 

In 1927, the Nevada Standard Mining Company was formed and purchased forty one claims that encompassed most of the districts mining claims and operating companies. The company continued to actively mine the Star (the most productive mine in the area), Gray Eagle, Imperial and Exchequer mines. The mines by then had workings of more than 40,000 feet. The Company worked the mines through to 1940 when production from the area finally ceased.

 

Figure 1: Claim Map showing patented and un-patented claims

Figure 1-2: Regional Geology

Location

The Cherry Creek project area can be reached by heading south of Wells, Nevada on highway 93 and then west on a local county road for 8 miles. Most of the federal land in the project area is governed by the Bureau of Land Management (BLM) in the Cherry Creek mine district. The claim areas are accessed from the town of Cherry Creek to the northwest via a well maintained unpaved road up the Exchequer Valley to the Exchequer mine area and from there by foot. Access to lower topographical elevations may be gained for the purposes of exploration on a year round basis. For air service, the closest major airport is in Salt Lake City, Utah located approximately 110 miles to the north east.

 

Climate

The climate in the region of Cherry Creek is semi-arid with monthly precipitation less than 3 cm. Snowfalls of 18 cm or more can occur during the winter months, particularly at the higher elevations.

Daily temperatures range in the summer between highs of 21 and 32°C during the day and between lows of 2 and 10°C during the night time. Winter temperatures range during the day between -4 and 4°C and at night time between -12 and -4°C with potentially lower temperatures at higher elevations.

 

Topography, elevation and vegetation

The regional topography is mountainous with the mineral claims located in the Cherry Creek Range that runs generally north-south for approximately 80 km. The highest point in the range is an unnamed peak, 3,188 meters located just south of the border between the White Pine and Elko Counties. The mineral claims in which Viscount have interests are located along the western and eastern slopes of the Cherry Creek Range at a surface elevation of between 2,130 and 2,440 masl (meters above sea level) and are located to the west of the Steptoe Valley that has an elevation of about 1,830 masl. The entrance to the Exchequer Mine is at an elevation of approximately 2,130 masl.

 

The abandoned town of Cherry Creek is located in the Steptoe Valley as shown on Figure 5.The vegetation sparsely covering the slopes of the Cherry Creek Range is generally stunted juniper and fir. At higher elevations the juniper gives away to Pinyon and other pines followed by mountain mahogany and open stands of alpine balsam, bristlecone and cattail pine. The natural vegetation remains in all areas other than some small areas developed for mining operations.

 

Regional Interests

A number of major mining companies hold exploration claims and/or have mining projects underway regionally up to and including producing properties nearby. Please note Figure 4 to see the locations of neighboring interests held by Piedmont Mining, Pilot Gold, Newmont Mining, Nevada Sunrise Gold Corp., US Gold Corp., and Barrick Gold Corp., amongst others.

 

Figure 4:  Nearby Producing Operations

Figure 5: Topography

Geology

The Cherry Creek Project Area lays within the Basin and Range Tectonic Province of the western US. The Basin and Range Province consists of a series of North to NNE trending mountain ranges separated by broad alluvial basins. The mountain ranges are structurally high areas; the basins are structurally low areas. Complex fault movements resulting from deep seated crustal extension formed the basins and ranges. The crustal extension process began between 30 and 20 million years ago, and is still on going to this day.

 

The area contains every geologic system from the Precambrian to the late Triassic with shales, quartzites, limestones, and dolomites. The entire area is tilted on a west dipping homocline partially covered by latter rhyolite tuffs and flows. These rock units are cut by three sets of faults and intruded by two smaller igneous plutons (32.1 m.y.) with numerous north west and north east trending dikes, some of are up to 1,200 feet wide and 4 miles in length. Most of the favorable ore is found along structural contacts with the Prospect Mountain Quartzite and major lithologic units and faults.

 

The general structural trend of the north part of the Cherry Creek Mining District is that of a west dipping monocline. The oldest structures in the area are the bedding plane faults. They are all hosted in the Cambrian sections, and have metal deposits associated with them. Three major right lateral faults cut across the range. Two of these, the Black Metal Fault and the Exchequer Fault are in the prospect area, and both strike to the northeast. They displace the bedding plane faults, but not the intrusives, thus being bracketed in terms of possible age. The Black Metal Fault is the more northerly of the two, and is thought to have the greatest displacement (1,220 m). It is persistent, and in the field it is marked by quartz veins silicification and brecciation.

 

The Exchequer fault is the host to the Exchequer vein, described previously. Just west of the mine, the vein is hosted in quartzite and splits into several segments. Additional northeasterly faults exist in the district, and some are associated with metal deposition.

East –West striking faults also exist and are thought to be part of the general development of the northeasterly trending systems. They are not as common, but significant as they host the Star vein.

 

 

Fieldwork

Phase 1 2015 Drill Program

 

In fall 2015, Viscount commenced exploration drill program at the Cherry Creek Mining District in Nevada. The drill program comprised 12 holes totaling 2224.1m (7297 ft.). The reverse circulation (or "RC") drilling targeted the high grade silver (+/- gold, zinc, lead) mineralization at the Ticup Mine area.

 

A total of 1551 samples were submitted to ALS Global for assay and multi‐element analysis. Samples consisted of 1394 unique drill cutting intervals each representing a minimum of 1.5m (4 ft. 11 in) and 157 reference samples. Analytical results from the reference material, comprising 1 blank (landscape marble) and 3 commercial silver standards, did not indicate any QA/QC issues in the laboratory sample preparation or analyses.

 

At the Ticup Mine a large block of highly altered and mineralized Wheeler Shale and Swasey Limestone was interpreted by Rangefront to be the down-faulted lateral extension of the Doctor's Cut vein. The drilling tested structural intersections and lithological contacts.

 

The drill program was managed by Summit Exploration's Executive Vice President, Exploration and Mineral Resources, David Tretbar, a Qualified Person as defined by NI 43-101.

 

Moderate to high grade silver mineralization was intercepted in many of the holes. Notable drill intercepts and silver assays results include:

 

• Hole CC001: 9.1 m at 52.6 g/t Ag, maximum silver assay value of 99.4 g/t

• Hole CC002: 27.5 m at 52.0 g/t Ag, maximum silver assay value of 167 g/t

• Hole CC006: 12.2 m at 117.6 g/t Ag, maximum silver assay value of 506 g/t

• Hole CC008: 100.5 m at 7.4 g/t Ag, maximum silver assay value of 64 g/t

• Hole CC010: 15.2 m at 54.2 g/t Ag, maximum silver assay value of 133 g/t

• Hole CC011: 30.5 m at 50.0 g/t Ag, maximum silver assay value of 247 g/t

 

Drill Results are as follows:

 

Table 1 - List of the 2015 drill holes including the depths of best silver intercepts encountered in the holes, intercept interval in meters ("Length"), average silver concentrations in the best zones, and maximum silver or gold concentrations in the zone.

 

Topographic map of the Doctor’s Cut‐Ticup Mine area, showing the locations of the 12 drill holes in the Viscount Mining 2015 exploration drilling program. The locations of sections A‐A’ and B‐B’ are also shown.

Simplified geologic section A‐A’ that trends east‐west, as shown on Topographic map of the Doctor’s Cut‐Ticup Mine area. The actual orientations of the drill holes are also shown on Topographic map of the Doctor’s Cut‐Ticup Mine area.

 

Simplified geologic section B‐B’ that trends north‐south, as shown on Topographic map of the Doctor’s Cut‐Ticup Mine area. The actual orientations of the drill holes are also shown on Topographic map of the Doctor’s Cut‐Ticup Mine area.

 

Geologic map of the central portion of the claim block showing simplified locations of major structures identified in the 2015 mapping program. The positions of select features that are mentioned in the text are also shown.

 

Snowden conducted some limited mapping, 5 short IP lines soil and rock chip sampling and limited mapping that were restricted to small areas near the Exchequer, Star and Mother Load mines on the west slope of the Cherry Creek Range. Also very limited mapping was done near Flint Canyon where Long Canyon type geology and unconformity was found. This work determined that it was a property of merit. Details of this NI43-101 report can be accessed at this link  Technical Report of the Cherry Creek Project

 

 

Summit Geological 2015 Program

 

Phase 2 Soil Sampling Program

 

The Phase 2 soil survey was concluded and results for silver included in the May – June activity  report  issued by Summit Exploration on the Cherry Creek property.  They state that “1663 soil samples have been collected, 1498 samples in 2015 and 165 in 2014”. Analysis has been by a 51‐element + gold ICP procedure (ME‐MS41 & Au‐TL43) at ALS Labs Limited, of Elko, Nevada. The sample grid spacing is 75m by 75m.  The Phase 2 sampling program extended the soil grid to the west and covers the historic Doctor’s Cut, Fillmore, Ticup, and Geneva Mines.  Preliminary review of the Phase 2 sample results in the Exchequer Fault, Geneva, Ticup and Fillmore Mine areas show widespread anomalous silver values over the Swasey Limestone, Wheeler Shale and Marjum-Weeks Limestone formations.

 

Phase 2 Geologic Mapping & Rock Chip Sampling

 

Contract Geologists Dr. Jamie Robinson and Will Ostrenga continued geological mapping and report having “covered the majority of the high priority Swasey-Wheeler formations along and north of the Exchequer Fault, extending from the Fillmore Mine in the west to the Star-Gray Eagle Mines and northeast to the Exchequer–New Century Mines”. In addition, a reconnaissance transect northeast along the Swasey-Wheeler contact to the Black Metals Fault was completed.  Rock chip samples were collected while geologic mapping was being conducted.

 

 

Mapping shows that the formations on and along the Exchequer Fault are highly dissected and rotated by secondary and tertiary faults associated with the principle Exchequer Fault.  It is not a simple linear fault as depicted on earlier geologic maps.  Previous mapping does not show the true extent of the faulting; almost all of these “wedge” boundaries and contacts of the Swasey Limestone and Wheeler Shale in the central mapped area are fault contacts.  Faulting and fracturing of these reactive rocks are critical for the formation of mineral deposits as the fractures act as conduits for mineralizing fluids.

 

Mapping the northeast transect along the Swasey-Wheeler contact to the Black Metals Fault indicates widespread alteration and mineralization continues along trend and is often associated with east-west and northwest trending fault zones.

 

Geological 2014 Program

 

Assay results received from Summit’s 2014 sampling also demonstrates 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 made by Summit geologists across the Cherry Creek property.  The distribution of mineralized samples throughout the prospect, and accompanying alteration, suggests good potential for significant metal accumulations.

The 2014 rock chip sampling results Summit conducted 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, assays ranged from below detection to: 21 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 2.6 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 more than 20%.  Zinc showed 10 sample assays greater than 1% with a high of 14%.

Assay results received from Summit 2014 sampling also demonstrates 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 made by Summit geologists across the Cherry Creek property.  The distribution of mineralized samples throughout the prospect, and accompanying alteration, suggests good potential for significant metal accumulations.

 

The 2014 rock chip sampling results Summit conducted 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, assays ranged from below detection to: 21 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 2.6 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 more than 20%.  Zinc showed 10 sample assays greater than 1% with a high of 14%.

Table: Summit Geological 2014 Sampling Cherry Creek

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Email: info@viscountmining.com

 

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