Vancouver, British Columbia – (May 18 2021) – Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount Mining”) is pleased to announce it has completed the analysis of the recent geophysical and geochemical study at its Silver Cliff property in Colorado.
In early March, Viscount began the 2021 field season with joint geophysical and geochemical surveys. The surveys, conducted on the Kate extension of Viscount’s Silver Cliff project, span an area that is oriented to the North-East and covers about 13 hectares. These surveys were done to examine the relationship between surface geochemistry and sub-surficial magnetics, and to investigate their usefulness in directing future drill programs.
The soil samples were gridded on 15-meter centers and lines were set 100 meters apart. Four lines were collected, each line containing 25 samples, for a total of 100 soil samples. A Geometrics G-858 MagMapper was used to collect continuous magnetometer readings over the same area. The soil samples were analyzed by SGS using a mobile metals isotopes (MMI) analytical procedure. This technique is especially well suited for buried strata bound deposits that exist at Silver Cliff. There are very few ore outcrops to guide the drilling at Silver Cliff. MMI measures the mobile metal ions that have been released from the mineralization and travels upwards towards the surface, then bond with unconsolidated materials such as sand, soil and dirt at the soil/ air interface. This helps to define locations of buried ore horizons. The MMI procedure was used by Snowden Consultants successfully as the method for soil sample analysis in their 2012 NI 43-101 document on Viscount’s Cherry Creek property in Nevada. The figures below indicate the results of these geophysical and geochemical surveys.
Soil/ Magnetometer Locations
The color shaded areas on the map are the magnetometer responses in the survey area. The blue shades are magnetic low responses, the green and yellow represents intermediate responses, while the red shaded area are high responses.
Higher concentrations of silver seem to appear at the surface above areas of lower magnetism. The concentration of silver in the soil correlates positively with zinc and lead, which is very similar to what we found in the analysis of the core from the 2020 drill program. This could be important pathfinder set of elements to guide drilling in the future. Five surface rock samples were collected in the survey area and the silver concentrations ranged from 31.1 to 280 g/t. Viscount drilled one hole in the survey area during the 2020 campaign. It is located in between the magnetic low and high fields and assayed 51.9 g/t over 19.4 meters.
Mark Abrams, Vice-President of Exploration stated “the soil sampling shows further evidence of the presence of the North-East trending zone that was noticed after the 2020 drill program. Three core holes from the 2021 spring drilling campaign, completed in April, are located within the area of geophysical analysis. Drill hole 21-04 was drilled in a magnetic low region, and the drill holes 21-05 and 21-06 were drilled in a magnetic high region. This should aid in further understanding the relationship between surficial and sub-surficial geochemistry of the Kate area. These results should help determine if either the MMI procedure or collection of magnetometer readings could be a vital resource for the guiding of future drill programs.”
Viscount anticipates starting Phase III of this drill program in the summer 2021. The program will be focusing on the discoveries of Phase 2 and concentrated on expanding the Kate Silver Resource to the North. Based on the results of the 20/21 drill program, Viscount will be commissioning an update to its current 43-101 resource.
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.
An internal report from CoCa Mines in 1983, estimated a potential resource of 40 million short tons at the Passiflora, 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.
Tenneco Minerals leased the Kate property in 1987. They had the 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 a feasibility study, Tenneco Minerals made the decision to construct a $35,000,000 milling operation for the extraction of the silver reserves at Silver Cliff. Shortly thereafter Tenneco decided to sell the minerals division, and the planned milling operation was abandoned.
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. 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 and is one of the largest Western-based gold producers in Central Asia.
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
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Viscount Investor Relations
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.
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