Vancouver, British Columbia--(Newsfile Corp. - September 8, 2021) - Viscount Mining Corp. (TSXV: VML) (OTCQX: VLMGF) ("Viscount" or "the Company") is pleased to announce the 2021 work program on the 100% controlled Cherry Creek Project in eastern White Pine County, Nevada is continuing to meet its planned milestones.
Viscount's partner Centerra Gold Inc. (Centerra) has deployed a team of geologists on the project since late January to conduct field work that includes geological mapping, collection geochemical samples and claim staking. Centerra's team is also responsible for the oversight of the geophysical contractor crews who are completing IP, aeromagnetic surveys, and ground magnetic surveys on target areas developed by Centerra.
Both the new and historical geochemical sampling results indicate the potential for multiple target types including sediment hosted, disseminated gold deposits; manto or replacement silver deposits; high-grade gold and silver vein deposits; and finally intrusive related base metal deposits. The geophysical surveys also lend support to the existence of these styles of targets being present on the project and greatly assist in the targeting.
The program was expanded based on results over time to include the following activities:
- Rock geochemical sampling (425 samples to date).
- Soil geochemical sampling (625 samples to date).
- Geological mapping, initially focused on the Star and Exchequer areas; moved onto the Doctor's Cut and TiCup mine areas; and now has expanded property wide. This work is still very much in progress and will be discussed in more detail at a later date.
- IP survey (46.3-line km).
- Ground magnetic survey (8 sq. km).
- Aeromagnetic survey (850-line km).
Centerra undertook the staking of 262 new lode claims, bringing the number of unpatented lode claims to 562. The property also includes 17 patented lode claims. The new claims were necessary in order to control and test the newly developing exploration targets; as well as some the company had been working up previously. The claims were primarily added to the west, north and east sides of the project and include mineralized projections of the Black Metal and Exchequer Faults.
Viscount CEO, Jim MacKenzie, stated: "The significance of the additional claims has increased the size of Cherry Creek by more than 7,011 hectares and has extended the opportunity to focus on multiple gold, silver and base metal targets. Our partner Centerra has diligently and methodically worked on the property this year to significantly expand the potential of Cherry Creek. With many probable target areas to work with, Cherry Creek is a district play, rather than an individual target. We are looking forward to the upcoming drill program."
In order to better understand the prospective of the district, Centerra has utilized geochemical sampling and geophysics to map the large Eocene intrusive rock body that floors the district. Eocene intrusive rocks in Nevada are closely associated with many of the Carlin type gold deposits in the region. Knowing the footprint of this permissive rock unit can help direct where budget resources are being spent to develop the gold-silver and other related target environments on the property. This information along with stratigraphic and structural data the geology team is currently gathering allows the prioritization of the targets as we move forward. Centerra and Viscount geologists are reviewing the data as it is received and are continually updating our understanding of the property.
The company has been working with EM Strategies to permit an initial Phase 1 core drilling program under a Notice of Intent (NOI). The NOI has been approved by the BLM.
The permitting work on Cherry Creek was done with a forward-looking view to allow the program and permit to be expanded if needed without undue delays.
QC and Analytical Procedures
Results for this ongoing work are being received and will be reported once this phase of work is complete.
Qualified Persons
This News Release was prepared by M.J. Abrams; BS and MS Geology, CPG #11451; Idaho PG #570; California PG#4138; Oregon RG#938. M.J. Abrams is a Qualified Person as defined by NI 43-101. The scientific and technical disclosure included in this news release was 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) (OTCQX: 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 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 562 unpatented and 17 patented claims as well as mill rights and is comprised of more than 7,011 hectares. Cherry Creek includes more than 20 past producing mines.
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 96 claims on 944 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 takeover by another company.
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
"Jim MacKenzie"
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 1 844 863 3622
Email: info@viscountmining.com
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.
Forward-Looking Statements
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.
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