VANCOUVER, British Columbia, Jan. 25, 2018 (GLOBE NEWSWIRE) — Viscount Mining Corp. (TSX-V:VML) (OTCQB:VLMGF) (“Viscount” or “the Company”), is pleased to announce the third set of 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 and completed on December 9th 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”). This release is reporting values from DDH P17006 and DDH P17007, the fourth and fifth of ten holes.
2017 Drill Holes Announced to Date
Current hole P17006 was drilled at -60 degrees and gave the following results: 149.88 g/t (4.82 oz/t) over 24.5 m (80.4 ft) from 0m (0 ft) to 24.5m (80.4 ft) including 203.9 g/t (6.56 oz/t) over 15.5 m (50.9 ft) from 0 m (0 ft) to 15.5 m (50.9 ft). Reported for historic hole 88_16 twinned by P17006 was 3.81 oz/t over 85 ft from 10 to 95 ft. The true thickness of the reported intersection of this hole is estimated at 83%.
Current hole P17007 was drilled at -60 degrees and gave the following results: 42.85 g/t (1.38 oz/t) over 39 m (128 ft) from 0 m (0 ft) to 39 m (128 ft) that includes 82.5 g/t (2.65 oz/t) over 12 m (39.3 ft) from12 m (39.4 ft) to 24 m (78.7 ft). Reported for historic hole 88_32 twinned by P17007 was 3.43 oz/t over 40 ft from 30 to 70 ft and 2.06 oz/t over 10 ft from 95 to 105 ft. Assays for individual sampled intervals are not known and there could be uncertainty as to whether short tons or tonnes (metric) was referenced in tables available to Viscount. The true thickness of the reported intersection of this hole is estimated at 83%.
The silver mineralization either parallels the topographic surface or the 3-5° dip of the volcanic stratigraphy. Thus, true thickness is approximated by the drill hole intersections of the vertical holes for which assays are reported in the above table. They are 100% of the vertical drill hole intersections. Those holes are P17002, P17004 and P17010.
Mark Abrams, Viscount Director and geologist stated: “Results from the Phase 1 and Phase 2 twin core hole drilling program at Silver Cliff have given us a measure of confidence in the reliability of the historic drill results and geological interpretations made on the previous drilling. We have noticed increased silver mineralized thicknesses in some of the twinned holes. The Phase 1 and Phase 2 holes have also provided additional geological information useful for further interpretation and targeting purposes.”
It is with heavy hearts that the Board and Management of Viscount Mining announces the passing of its VP of Exploration, Dr. Howard Lahti.
Dr. Lahti had been with Viscount since its inception, was most dedicated to the Company, and was well respected by all with whom he worked. The Board extends its deepest sympathies to his family, friends and colleagues. He will be greatly missed.
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 PI 17002, DDH P17004, DDH 17006, DDH 17007 and DDH P17010 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
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.
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.