Vancouver, British Columbia--(Newsfile Corp. - February 25, 2021) - Viscount Mining Corp. (TSXV: VML) (OTCQB: VLMGF) ("Viscount Mining") Viscount has started the 2021 field season at their Silver Cliff project in central Colorado. In December 2020, Viscount retained a consulting geophysicist to review published geophysical data, and start to make interpretations. Some small scale map interpretation was possible, but for Viscount's practical needs, it was determined that larger scale magnetic mapping should be conducted.
Phase 2 drilling will begin shortly. Plans are to focus on increasing the silver resource to the east, continue to define the Kate East zone and additional exploration drilling in the Passiflora target. A third phase will commence in mid to late summer 2021, and refinement of current targets will be reviewed in conjunction with the results from the spring program.
Viscount's 2020/2021 drill campaign has three objectives. They are to expand the previously defined Kate resource (the "KSR") with the objective of adding to the NI 43 101 resource estimate of the KSR/Kate deposit. Also, to further outline the Kate East high grade zone as well as moving forward on the evaluation of the resource potential of several other promising targets.
Currently, field crews are at the Silver Cliff project to conduct geochemical soil sampling and geophysical surveys. A soil sampling program has been initiated, which will be followed by ground magnetic survey in an effort to further define the Kate East higher grade zone. The soil samples will be analyzed utilizing S.G.S. proprietary Mobile Metallic Ion (MMI) technology. Viscount has had success with this methodology at our Cherry Creek project in 2011. The MMI technology targets metal ions which are released from buried mineralization and migrate towards the surface. They accumulate near surface close to the soil/air or soil/organic layer interface. This minimizes the dispersion of the elements, as this much less affected by mechanical weathering, thus producing more focused sampling results. The initial survey will be a grid of four lines with 100 samples.
The purpose of the two surveys are to give us a more detailed understanding of the configuration and extent of the Kate East zone that will assist in a more efficient placement of drill holes in phase 3. Both surveys traverses known mineralized zones. This will help us discriminate between stronger anomalies and weaker anomalies. For example, line 1 on the second graphic the furthest north will traverse DDH-20-10 that had a 19.4 m section that assayed 51.9 g/t. This knowledge can then be used for additional surveys to help in a faster expansion of the resource.
The graphic below is one of the maps developed by our consulting geophysicist. It shows the major structural components in the larger project area. This emphasizes Kate's positioning near the major northwest southeast fault shown in orange dotted line. As planned a more detailed survey will delineate boundaries of the Kate East high grade zone.
The graphic below is of the grid we are currently working on. The purple spots on the yellow lines are the soil sampling stations located 25 m apart. The three lines with no dots on them, as well as the soil survey lines will be surveyed by the magnetometer. The magnetometer will take continuous readings as the instrument person walks all seven lines. This will allow us to make detailed comparisons of the magnetic and geochemical responses.
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 320 unpatented and patented claims as well as mill rights and is comprised of more than 2,658 hectares. 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
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.