Vancouver, British Columbia--(Newsfile Corp. - August 24, 2017) - Vendetta Mining Corp. (TSXV: VTT) (the "Company") is pleased to announce further drill results from the 2017 program at the Pegmont Lead-Zinc Project in Queensland, Australia.
This initial part of the program has been executed in Zone 3 and is now being extended to Zone 2. The goal is to expand and upgrade the Mineral Resource near the base of the open pit shell used to constrain the June 2017 Mineral Resource and to locate additional mineralization within the pit shell (see news release, VTT2017-NR #6) but outside of the resource estimation search parameters.
Zones 2 Highlights:
- PVRD067: 8.4 metres of 11.30% Pb+Zn (8.05% Pb, 3.24% Zn);
- PVRD074: 6.2 metres of 14.64% Pb+Zn (11.43% Pb, 3.21% Zn); and
- PVRD079: 9.1 metres of 11.06% Pb+Zn (7.45% Pb, 3.61% Zn)
Zones 3 Highlights:
- PVRD069: 6.2 metres of 9.72% Pb+Zn (6.44 Pb, 3.29% Zn); and
- PVRD072: 4.6 metres of 11.32% Pb+Zn (8.20% Pb, 3.12% Zn);
A full summary of the sulphide lead-zinc results including estimated true widths are provided in Table 1 and the location of the holes is shown on the map in Figure 1.
Michael Williams, Vendetta's President and CEO commented "These results coupled with the previously announced Zone 3 assays give us reason to be encouraged by the consistently higher grades being intersected in the current program. We will continue to focus on the areas within the pit the shell that have the greatest potential to increase both tonnes and grade while also targeting potential expansion of the resource in areas that may later fall inside an optimized pit shell. We are continuing to develop the underground target in Zone 5 and are commencing testing conceptual exploration targets near the Burke Hinge Zone."
Zones 2 and 3 Results
Zone 2 is a flat to moderately dipping area, located between 50 and 100 m from surface, with a strike length of 2 km. Holes PVRD067 and 068 are drilled from that same pad, the high grade intersection in PVRD069 is located in a flat dipping portion of Zone 2. Hole PVRD068 was drilled to test a modelled low grade zone in Zone 2 immediately prior to the "Z" fold, and confirmed the zone is a site of structural attenuation (stretching and thinning) separating the high grade open folds in Zone 2 and the "Z" fold.
PVRD073, 074, 079 and 075 are drilled from one pad into Zone 2. Hole 073 was drilled into the attenuated fold limb at the base of Zone 1, while the high grade intersections in holes PVRD074, 079 and 075 are located in a moderately dipping open fold structure to the north-east of the "Z' fold. PVRD074 will be used for metallurgical test work.
Zone 3 is located about 50 to 100 m below Zone 2, it is flat to moderately dipping, separated from Zone 2 by a drag fold called the "Z fold". It has a modelled strike of 1.2 km.
Holes PVRD069, 071 and 072 are drilled from the same pad, the high grade intersections in the moderately dipping Zone 3 are spaced about 20 m apart and are in the same structural position as the previously reported high grade intersections in holes PVRD065, 066 and 063 (see VTT NR #5), located 40-50 m to the NE. Hole PVRD077 was probing the down dip extent of the high grade structure intersected in aforementioned holes, it intersected the host lithology but lacked mineralization.
Table 1. Summary of Open Pit Target Zone 2 and 3 Drill Assay Results.
| BoreHole | Dip / Azimuth | From (m) |
To (m) |
Vertical Depth Below Surface (m) |
Interval (m) |
True Thickness* (m) |
Grade# | |||
Pb+Zn % |
Pb % |
Zn % |
Ag g/t |
|||||||
| Zone 2 | ||||||||||
| PVRD067 | -52/316 | 108.07 | 116.50 | 91.4 | 8.43 | 6.9 | 11.30 | 8.05 | 3.24 | 13 |
| Including | 108.07 | 115.51 | 90.6 | 7.44 | 6.1 | 12.64 | 9.09 | 3.56 | 15 | |
| PVRD068 | -86/330 | No Significant Result | ||||||||
| PVRD073 | -51/324 | 129.30 | 130.55 | 99.0 | 1.25 | 1.0 | 3.82 | 1.06 | 2.76 | 6 |
| PVRD074 | -89/305 | 113.70 | 119.87 | 119.8 | 6.17 | 5.8 | 14.64 | 11.43 | 3.21 | 21 |
| PVRD075 | -81/114 | 106.83 | 114.55 | 112.5 | 7.72 | 7.6 | 9.16 | 6.52 | 2.64 | 11 |
| Including | 106.83 | 112.55 | 110.5 | 5.72 | 5.6 | 11.82 | 8.43 | 3.39 | 14 | |
| PVRD079 | -85/325 | 114.56 | 123.62 | 122.6 | 9.06 | 8.9 | 11.06 | 7.45 | 3.61 | 8 |
| Including | 115.56 | 121.62 | 120.1 | 6.06 | 5.9 | 14.08 | 10.01 | 4.07 | 10 | |
| Zone 3 | ||||||||||
| PVRD069 | -80/153 | 186.68 | 192.93 | 185.1 | 6.25 | 6.1 | 9.72 | 6.44 | 3.29 | 9 |
| Including | 186.68 | 190.93 | 183.2 | 4.24 | 4.1 | 13.35 | 8.70 | 4.64 | 11 | |
| PVRD071 | -71/142 | 188.10 | 194.95 | 181.6 | 6.85 | 6.8 | 9.20 | 6.17 | 3.03 | 9 |
| Including | 188.10 | 192.95 | 180.3 | 4.85 | 4.8 | 12.35 | 8.23 | 4.13 | 11 | |
| PVRD072 | -65/136 | 189.09 | 193.72 | 174.5 | 4.63 | 4.5 | 11.32 | 8.20 | 3.12 | 16 |
| PVRD077 | -62/135 | No Significant Result | ||||||||
*True thickness is estimated using structural measurements and three dimensional geological modeling.
#Drill intersections are summarized using a combined 1% lead and zinc grade with maximum 1 m internal dilution.
Ongoing Drilling
To date the a total of 52 drill holes have been completed for a total of 13,322 m in Zones 1, 2, 3 and 5.
Processing, logging and sampling of the core not discussed in this release is ongoing. The Company will release results as they become available.
Drilling continues with two drills, one drill is working in Zone 1 and the other has commenced the exploration program testing conceptual targets near the Burke Hinge Zone.
Figure 1. Surface Map Showing 2017 Mineral Resource Block Model Contours, Pit Shell and Location of Current Results and 2017 Completed Holes
Notes on Zone 3 Drilling and Assay QA/QC
The drilling at Zone 2 and 3 involved drilling RC pre-collars using a 5.75 inch diameter face sampling bit to depth prior to casing and continuing the hole in NQ2 diamond core. Diamond core samples were taken on nominal 1 m lengths but varied to match geological contacts. Samples of the core are obtained using a diamond saw to half cut the core, if the hole is to be included in metallurgical test work it is then halved again. This is performed to provide sufficient sample for metallurgical test work while retaining a permanent core record.
Diamond core samples were taken on nominal 1 m lengths, with a diamond saw being used to half core and then quarter the core. Quarter core samples are dispatched for analysis, so as to provide sufficient sample for metallurgical test work while retaining a permanent core record.
Field duplicate samples were taken and blanks and commercially prepared certified reference materials (standards) were added into the sample sequence for every hole submitted. These were analyzed by the Company and no issues were noted with analytical accuracy or precision.
Samples used for the results described herein were prepared and analyzed at ALS Laboratory Group in Townsville, Queensland. Analysis was undertaken using a four acid digest and ICP (ALS method: ME-ICP61 for 7 elements) with over limit (>10,000 ppm lead and zinc and >100 ppm silver) high grade samples being read with an atomic absorption spectrometer (AAS), (ALS methods: Pb-OG62, Zn-OG62 and Ag-OG62).
Drill hole collars are located using handheld GPS, and the collars will be surveyed by a licensed surveyor prior to undertaking an update of the mineral resource estimate. Down hole surveys were undertaken using a true north seeking gyroscope with stations nominally every 6 m.
All NQ2 diamond core is orientated using digital core orientation systems, this data is incorporated into the 3D interpretations. Assay intervals shown in Table 1 are down hole intervals, and the true thickness noted are based on 3D interpretations of the host lithology, structure, and mineralization.
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 details please see Vendetta's news release, VTT2017-NR#6, June 27th, 2017 and the NI 43-101 technical report "Pegmont Resource Update June 2017" available on SEDAR.
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.
