Viscount Mining Finds Widespread Silver Mineralization over 170 meters per hole on Multiple Drill Holes at the Passiflora in Silver Cliff Colorado
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Vancouver, British Columbia--(Newsfile Corp. - July 22, 2021) - Viscount Mining Corp. (TSXV: VML) (OTCQB: VLMGF) ("Viscount Mining") is pleased to announce results from our exploration holes at the Passiflora at its Silver Cliff property in Colorado.
Three additional holes were drilled in the Passiflora target during the 2021 spring campaign. The Passiflora has been a target from early exploration efforts in the Silver Cliff area. In 1983 Ron Rivera of CoCa Minerals (CoCa) conducted a mineral inventory study based on 18 drill holes in what they thought was the main target in the Passiflora. This excluded 13 holes that he determined did not have a bearing on the main ore body. CoCa indicated an inferred resource of 40 million tons of 1.62 oz. per ton (not NI 43-101 compliant and therefore not to be relied upon) at the Passiflora, with the best intercept reported to be 256 g/t silver and 1.4 g/t gold. The historical estimate did not use current CIM definitions and the exploration manager has not done sufficient work to classify the historical estimate as current mineral resources or reserves.
HISTORIC PASSIFLORA DRILL HOLES
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Viscount has drilled 4 holes in the Passiflora target to date, with good results. Viscount drilled one hole in the Passiflora in 2020 to a depth of 193.9 m that showed anomalous silver throughout, some anomalous gold as well as strong silica and clay alteration and pyritization over most of the hole. Hole 21-08 was a stratigraphic and lithological test conducted outside of the main zone of mineralization. Hole 20-05 saw silver mineralization throughout the total length of 172.7 meters. Holes 21-09 and 21-10 also encountered silver mineralization for the length of both bores (both 183.3 meters). In hole 21-10, a 1.8-meter section assayed 142.3 g/t silver. Anomalous gold mineralization throughout (the highest gold assay of 0.95 g/t) has been noted in the Passiflora target in both holes. In hole 21-10 there was gold mineralization over 183.3 meters. Gold does not seem to be associated with the alteration at the Kate Resource area but is commonly associated with Passiflora alteration metals.
Silver Cliff Exploration Manager, Jacob Hooker, commented on the immense potential for Passiflora resources saying, "Intensifying phyllic alteration is visibly evident in drill core from numerous Passiflora holes to the depth of around 200 meters. This information, paired with the known volcanic history of the region, suggests that a porphyry system could lie beneath."
Holes 20-05, 21-09, and 21-10 were all strongly altered with what was visually identified as sericite and pyrite. Also, copper seems to be enriched in zones throughout holes 20-05, 21-09 and 21-10, though no chalcopyrite was observed in the core. Thin sections are currently being prepared for microscopic mineral identification. Both sericite and pyrite are minerals that are part of the phyllic alteration halo assemblages that commonly surrounds Copper porphyry deposits. Rivera also mentioned that Duval Mining geologists had identified a quartz monzonite at shallow depth in the vicinity of the Passiflora mine. Quartz monzonite is a rock that is also commonly associated with porphyry ore bodies.
Quality Assurance/Quality Control ("QA/QC") Measures, Chain of Custody:
All Viscount's drilling to date has been core. The company has implemented a rigorous quality assurance/quality control program at the Silver Cliff project. Core is retrieved from the drill site to a locked storage facility, where it is logged and then cut by independent geologists. Half of the core is bagged, and standards, blanks and duplicates are frequently inserted in to the sample stream. These are then boxed and then shipped via USPS to Skyline Labs in Tucson, Arizona. Pulps and rejects will then be retrieved, and stored with the split core at our locked facility.
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 (TSXV: 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.
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 a takeover by another company.
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
For further information, please contact:
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.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/90976.
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