Vancouver, British Columbia--(Newsfile Corp. - August 9, 2017) - Vendetta Mining Corp. (TSXV: VTT) announce the filing of the National Instrument 43-101 (NI 43-101) Technical Report on the updated Mineral Resource estimate of the Pegmont Lead-Zinc project, in Queensland Australia, to support the Mineral Resource estimate announced by Vendetta on June 27th, 2017.
The independent NI 43-101 technical report for the updated Pegmont Mineral Resource was prepared for Vendetta by leading independent mining consultants AMC Mining Consultants (Canada) Limited. The report titled Pegmont Resource Update June 2017 has been filed on the SEDAR website at www.sedar.com and will be placed on Vendetta's web site www.vendettaminingcorp.com. The technical report has an effective date of 22nd June 2017 and includes drilling and other technical data to 8th May 2017.
Drilling Update
Development drilling continues at the Pegmont with two drills, one currently drilling in Zone 5 and the other in Zones 2-3.
Processing, logging and sampling of the core is ongoing. Initial results from the program were released on July 25th, 2017, see Vendetta's News Release VTT2017-NR#7 for details. The next batch of assays are expected shortly and will be released as soon as the Company has processed and incorporated the results into the geological models.
Follow up drilling on the new Copper target will commence shortly. The Copper target was identified at the end of the 2016 program with exploration hole PVR040 intersecting 3.0 metres of 3.21% Cu and 0.57 g/t Au, see Vendetta News Release VTT2016 - # 8, October 19th 2016. In early 2017 a ground geophysical EM survey was conducted to determine the possible strike and dip, this resulted in a steeply dipping linear conductor of over 800 m being identified, details of the EM survey can be found in Vendetta's News Release VTT2017- #5, May 4th 2017.
About The Pegmont Lead Zinc Project
Pegmont is a stratiform, Broken Hill-Type deposit that outcrops with an overall shallow dip to the south east and is hosted in a magnetite-rich banded iron formation within high grade metamorphic rocks. The project consists of three granted mining leases and two exploration permits that cover an area of approximately 3,468 ha.
Pegmont is situated in the Mount Isa - McArthur Mineral Province, which hosts one of the world's richest endowments of lead-zinc-silver mineralization, including several world-class lead-zinc-silver mines.
Pegmont is located 25 km west of South 32's Cannington silver-lead-zinc operation, one of the world's largest producers of lead and silver and 28 km north of Chinova Resources' Osborne copper-gold operations. Pegmont is proximal to existing infrastructure including public roads, mine haul roads, rail, and a natural gas pipe line for power generation.
In June 2017 Vendetta updated the Mineral Resource estimate for Pegmont, for full details please see Vendetta's news release, VTT2017-NR#6, June 27th, 2017.
About Vendetta Mining Corp.
Vendetta Mining Corp. is a Canadian junior exploration company engaged in acquiring, exploring, and developing mineral properties with an emphasis on lead and zinc. It is currently focused on advanced stage exploration projects in Australia, the first of which is the Pegmont Lead Zinc project. Additional information on the Company can be found at www.vendettaminingcorp.com
Qualified Person
Peter Voulgaris, MAusIMM, MAIG, a Director of Vendetta, is a non-independent qualified person as defined by NI 43-101. Mr. Voulgaris has reviewed the technical content of this press release, and consents to the information provided in the form and context in which it appears.
