Vancouver, British Columbia--(Newsfile Corp. - April 27, 2022) - Viscount Mining Corp. (TSXV: VML) (OTCQX: VLMGF) ("Viscount" or "the Company") is pleased to announce our partner Centerra Gold Inc. (TSX: CG) (NYSE: CGAU) has signed an agreement with Alford Drilling of Spring Creek, Nevada to provide core drilling services. Drilling has begun on the 100% controlled Cherry Creek Project in eastern White Pine County, Nevada.
The initial drill program is anticipated to run until July 1 focusing on the Star target. The first phase of drilling is planned for 15 holes with an aggregate of footage of 14,000 feet (4,268 meters).
Many other targets are ready for drilling now, and will be announced in upcoming news releases.
Viscount CEO Jim MacKenzie stated: "After significant work by the Centerra team on the property over the past year very diligently defining targets we are now able to start unlocking the potential of the Cherry Creek district. Starting with the Star target which had a substantial history of gold and silver production with noteworthy grades including some of the ore shoots averaging 24,880 g/t silver, we look forward getting started with the first of the initial eleven targets identified by Centerra.
Star Target Area Location
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The Star Vein system is comprised of the subparallel South Star Vein and the North Star Vein emplaced about 9 m (30 ft) apart. Based on the Schrader report of 1931 both veins have a production history, with the South Star Vein having the greatest production. The larger South Star Vein had an average gold grade of 7.8 g/t gold and an average silver grade of 622 g/t silver; with 8% lead and 8% zinc. Some very rich ore shoots averaged 24,880 g/t silver. The vein system has been traced over 670m and extends over 260m at depth. The best ore shoot is 300m long. (Source: University of Nevada Bulletin 14a, Nevada State Bureau of Mines and Mackay School of Mines. Author: F. C. Schrader geologist of the U.S. Geological Survey 1931.) All of Schrader's estimates are deemed to be historical and not 43-101 compliant.
The maximum rock sample for gold was 61.4 g/t. Fourteen rock samples ran greater than or equal to 2.0 g/t gold. The high soil sample for gold 2,190 ppb, while eight samples ran greater than or equal to 200 ppb gold. The maximum rock sample silver for silver was 8,710 g/t, while the maximum silver value in soils was 221 ppm. Seventeen rock samples ran greater than or equal 100 g/t silver, while eight soil samples ran greater than or equal to 20 ppm silver.
Quality Assurance/Quality Control ("QA/QC") Measures, Chain of Custody
The Company has implemented a rigorous QA/QC program using best industry practices at the Cherry Creek Property. Rock and soil samples are placed in securely sealed bags for transportation to the Bureau Veritas Mineral Laboratory in Elko, Nevada, for sample preparation and subsequent analysis at Bureau Veritas Mineral Laboratories Canada, in Vancouver. The insertion of standards, blanks and duplicates was conducted by Centerra personnel at the property site.
Analysis for rock samples is completed at Bureau Veritas using the following prep and analysis packages:
PRP 70-250 Crush, split and pulverize 250g rock to 200 mesh
FA450 50g Lead Collection Fire Assay Fusion - AAS Finish
AQ 201 1:1:1 Aqua Regia digestion ICP-MS analysis
Analysis for soil and sediment samples are completed at Bureau Veritas using the following soil and sediment prep and analysis packages:
DY060 Dry at 60C
SS80 Dry at 60C sieve 100g to -80 mesh
FA450 50g Lead Collection Fire Assay Fusion - AAS Finish
AQ 201 1:1:1 Aqua Regia digestion ICP-MS analysis
DISP2 Heat treatment of Soils and Sediments
Qualified Persons
This News Release was prepared by M.J. Abrams; BS and MS Geology, CPG #11451; Idaho PG #570; California PG#4138; Oregon RG#938. M.J. Abrams is a Qualified Person as defined by NI 43-101. The scientific and technical disclosure included in this news release was 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 (TSXV: VML) (OTCQX: 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 96 lode claims 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. Based on the accumulated data and feasibility study, Tenneco Minerals made the decision with silver at $5.00 USD an ounce to construct at that time a $35,000,000 USD milling operation for the extraction of the silver reserves at Silver Cliff. Shortly thereafter Tenneco's Mining Unit was sold, 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 578 unpatented and 17 patented claims as well as mill rights. Cherry Creek includes more than 20 past producing mines. In January 2021, Viscount entered 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.
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
"Jim MacKenzie"
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Email: info@viscountmining.com
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.
Forward-Looking Statements
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 contemplated drill program and any correlation to any historical results. The Company cannot provide any assurances that the entire drill program described above will be completed. 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.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE 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.
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