VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or “the Company”), is pleased to announce the first assay results from the Phase 2 HQ core drilling program at their Silver Cliff property in the Hardscrabble Silver District of Custer County, Colorado (the “Property”). The 2017 program commenced in mid-October has as its primary objective the verification of historical drill results for current mineral resource estimation on one of the Silver Cliff deposits known as the Kate Silver Resource (the “KSR”). A second objective is to test the potential for deeper silver mineralization. This release is reporting values from DDH P17002, the first of ten holes.
Vertical hole (-90°) P17002 penetrated to a depth of 197.1 m (646.7 ft) and assays of continuous 1.5 m (4.92 ft) sample intervals only to a depth 36 m (118.1 ft) have been received from ALS Canada Ltd. Of this portion of the hole, the first 34.5 m (113.2 ft) from surface averaged 90.35 parts per million (ppm, i.e. g/t or 2.91 oz/t), including an 18 m (59 ft) portion from 12 to 30 m (39.4 to 98.4 ft ) averaging 120.58 g/t (3.88 oz/t). Historical hole 79_5_CC drilled in 1979 and twinned by P17002 was reported to have only an 18.3 m (60 ft) interval averaging more than 31.1 g/t (1.0 oz/t), namely, from 15.2 m to 33.5 m (50 to 110 ft) with 105.43 g/t (3.39oz/t). Although results from more drill holes will be required to determine true thickness, historical geological records and Viscount’s 2016 drilling profiles indicate that the mineralized rhyolite tuff beds are nearly horizontal with apparent variations from the horizontal due to vertical displacement by faults.
Kaare Foy, Viscount Chairman stated: “We are very encouraged with the results of our first hole of Phase 2 drilling at Silver Cliff. The results show the twinned hole multiple ounce mineralization to be almost double in length. This was also indicated in some of the 9 twinned holes drilled in 2016 where 5 out of 9 holes had noticeably thicker silver-rich sections.”
Dr. Howard Lahti, VP of Exploration commented: “Viscount is continuing the drill program to see if there are other locations within the Kate deposit with much thicker or multiple zones which would offer the potential for increasing the historic silver resource potentially mineable by open pit. The high silver values from our last drill campaign and the most recent result continues toward addressing our primary goal which is to verify the historical mineral resource. Our goal also is to enlarge the historic resource by extending the drill program outside the perimeter of the area encompassed by the Tenneco PEA. We look forward to reporting further assays from this program as they become available.”
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 sample preparation and subsequent analysis at ALS Canada Ltd. in Vancouver. Prior to transport, individual samples are labeled, placed in plastic sample bags and sealed. One certified standard for each 20 samples is included. Groups of samples are then placed into durable rice bags that are then shipped. The sample pulps and rejects will be retrieved from ALS. For the 1.5 m (4.92 ft) interval samples that are the subject of this report of DDH P17002 results, the ALS method with code ME-GRA21 was utilized for determining both gold and silver. It consists of fire assay and gravimetric finish (30g nominal sample weight). Five certified standards were included with this shipment.
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 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 2,029 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 take over by another company.
The Cherry Creek Property is focused on exploration in the immediate vicinity of 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 8,000 acres. 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
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 1 844 863 3622
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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.