VANCOUVER, B.C., Feb. 14, 2018 (GLOBE NEWSWIRE) — Viscount Mining Corp. (TSX-V:VML) (OTCQB:VLMGF) (“Viscount” or “the Company”), is pleased to announce the fourth 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 P17001 and DDH P17003, the sixth and seventh of ten holes.
2017 Drill Holes Announced to Date
|Viscount Hole #||Historical Hole #||From (m)||From (ft.)||To
|Length (m)||Length (ft.)||Ag
Current hole P17001was drilled at -90 degrees and gave the following results: 113.5 g/t (3.65 oz/t) over 9 m (29.53 ft) from 24m (78.74 ft) to 33 m (108.27 ft) including 237.5 g/t (7.64 oz/t) over 3 m (9.84 ft) from 25.5 m (83.66) to 28.5 m (93.54 ft). This hole is notable in that it assessed the less tested northern portion of the Kate deposit. The true thickness of the reported intersection of this hole is estimated at 100%.
Current hole P17003 was drilled at -90 degrees and gave the following results: 58.5 g/t (1.88 oz/t) over 6 m (19.7 ft) from15 m (49.2 ft) to 21 m (68.9 ft) that includes 86 g/t (4.92 oz/t) over 1.5 m (4.92 ft) from16.5 m (54.13 ft) to 18 m (59.05 ft). The true thickness of the reported intersection of this hole is estimated at 100%.
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 P17001, P17002, P17003, P17004 and P17010.
Mark Abrams, Viscount Director and geologist stated: “The drill program from 2016 and 2017 is showing very positive results that have lead us to believe we are getting to a point in our understanding where we can start to target potential higher grade feeder zones some of which appear to have been the focus of historic mining.
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 and 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’s PI 17001, P17003 results and for the previous above – tabulated holes, 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). Eight certified standards were included with the shipment of samples from P17001 and P17003.
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.