VANCOUVER, British Columbia, Jan. 10, 2018 (GLOBE NEWSWIRE) — Viscount Mining Corp. (TSX-V:VML) (OTCQB:VLMGF) (“Viscount” or “the Company”), is pleased to announce the second 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 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 P17004 and DDH P17010, the second and third of ten holes.
The following table includes PI 17002 announced in Viscount’s November 28, 2017 news release
Vertical hole (-90°) P17004 was twinned with historical hole 77-07CC which showed 48.21g/t (1.55 oz/t) over 3.04 m (10ft) from 7.3 m (24 ft) to 10.36m (34 ft) and 106.99g/t (3.44oz/t) over 22.86m (75ft) from 16.4m (54ft) to 39.3m (129ft).
Current hole P17004 gave the following results: 90.35 g/t (2.83 oz/t) over 33 m (108 ft) from 6m (20ft) to 39m (128 ft) including 95.48 g/t (3.07oz/t) over 30.02m (98.5ft) from 9m (29.5 ft) to 39 m (128ft) and 109.04 g/t (3.51 oz/t) over 24.01m (78.8ft) from 15 m (49.2 ft) to 38 m (128 ft). The new section is 7.01m (23ft) thicker and is not separated by low grade 9.1m (30ft) rock.
Vertical hole (-90) P17010 was twinned with historical hole RH 27CAL that had an assay grade of 25.19 g/t (0.81 oz/t) over 48.15m (158 ft) from 0.60m (2ft) to 48.76 m (160ft).
Current hole PI 17010 gave the following results: 79.53g/t (2.57oz/t) over 33 m (108 ft) from 13.5 m (33.4 ft) to 46.5 m (152.5ft) that includes 122.85 g/t (3.95 oz/t) over 13.5 m (44.5 ft) from 33m (108ft) to 46.5 m (152.5ft). We can observe that the new drilling grade is more than 3 times higher than historical result.
The silver mineralization either parallels the topographic surface or the 3-5° dip of the volcanic stratigraphy. Thus, true thickness is approximated in the vertical holes.
Kaare Foy, Viscount Chairman stated: “The results of our Phase 2 drilling at Silver Cliff are continuing to show the twinned hole multiple ounce mineralization is greater that what was drilled in the 1980’s. 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 believes that last year’s twin drill program along with the recently completed twin drill program will not only begin to verify the historical tonnage and grade and could also result in a significant increase in the overall tonnage.”
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 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.