PRESS RELEASE
March
29, 2017
VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB:
VLMGF) (“Viscount” or “the Company”), reports that in 2016 Summit
Mining Exploration Inc. (Summit) continued an ongoing mineral exploration and
evaluation program in the Cherry Creek mining district of northern White Pine
County, Nevada as part of their earn-in agreement with Viscount. Rather than explore the previously
producing areas of the Cherry Creek property which encompasses just
about all of the historical silver, silver gold-base metal and tungsten mines
located in the Cherry Creek Mining District, Summit elected to focus their 2016
exploration program on a reverse‐circulation drilling program in the Flint
Canyon area which they discovered in 2014‐15 to have anomalous gold in soil and
rock chips. The area has no historic mines and had only minimal modern
exploration prior to Viscount and Summit.
Summit’s initially proposed 2016
program was expanded to include: (1) drilling 32 reverse-circulation (RC) holes
in the Flint Canyon target area; (2) geologic mapping at a scale of 1:2500 in
the area south and west of the Flint Canyon target and in the north end of
Silver Canyon, several kilometers to the east; (3) collection of 412 rock‐chip
samples for geochemical analysis; and, (4) collection of 1868 soil samples for
geochemical analysis in a grid that covers the Flint Canyon target area with
extensions in all directions.
The 32 RC holes at Flint Canyon
combined for 5,369 total meters (17,615 feet). They were drilled with variable
azimuths and inclinations from eleven distinct pads to depths ranging from 86.9
to 304.9 meters. Formations encountered in the drill holes included Marjum
limestone, Dunderberg Shale, Notch Peak Formation, Pogonip Formation, and
undifferentiated dolomite (OSD). In
general, the strongest gold concentrations occurred in near surface silicified
zones in the Marjum limestone. Gold
intercepts occurred in local silicified zones along the Dunderberg/Marjum
contact, in collapse breccias and silicified strata in the Pogonip Formation,
and silicified breccia in undifferentiated dolomite. Twenty‐one of the 32 holes included at least
one sample interval with 0.100 g/t Au and two holes returned samples with
greater than 1.00 g/t Au, with a maximum of 4.03 g/t gold in a single sample of
a strongly oxidized, decomposed felsic dike in Hole CC021. The best
multi‐sample intercept was by hole CC021 with 0 to 18.3 meters averaging 0.438
g/t Au, including the 4.03 g/t altered dike.
Five of the holes had intercepts of at least 10 meters with average gold
concentrations of 0.100 g/t or greater.
Mineralized zones with elevated levels of gold display few associated
geochemical anomalies, although weakly enhanced concentrations of arsenic
(<200 and="" barium="" locally.="" o:p="" occur="" ppm="">200>
According to Summit’s report “the
results of the 2016 drilling program could be interpreted to indicate that
Flint Canyon is on the distal edge of a large disseminated gold system.”
None of
the 32 holes were surveyed. Drill data density is insufficient to estimate true
thickness of the mineralized intervals reported above.
Mapping south of Flint Canyon drill
area identified a frontier‐level gold exploration target in Lead Mine
Canyon. The target lies in a 250‐ x
75‐meter exposure of Marjum siltstone. Pods of jasperoid and coarse calcite
occur along the limestone/siltstone contact and in minor faults that cut the
contact. Four samples of jasperoid from those silicified zones contained gold
values between 0.283 and 1.085 g/t. Soil samples from the siltstone commonly
contained elevated gold values between 0.02 and 0.1 g/t, with one sample
containing 0.5 g/t.
In Silver Canyon, jasperoid outcrops
along the contact between Dunderberg Shale and Marjum limestone are locally
enriched in silver, 200‐500 g/t, and commonly display low anomalous gold.
Summit has elected to exit the
agreement and has given Viscount all the exploration data and information.
Viscount now has complete control of the Cherry Creek property.
Summit considers that there is still
potential to find Kinsley Mine and Long Canyon type gold deposits on the
property as outlined in this quote from their 2016 Exploration Report on Cherry
Creek:
“In addition to
the Flint Canyon area displaying the potential for a Kinsley Mine analogue,
anomalous gold in soil and rock‐chip samples from the Pogonip Formation
indicate that there could be a disseminated gold deposit at depth that is
analogous to Newmont Mining Corporation’s Long Canyon Mine currently in
production. At Long Canyon, disseminated gold mineralization occurs in a
lenticular and laminated limestones as well as collapse breccias in the lower
Pogonip Formation and in laminated limestone and siltstone at the base of the
Notch Peak Formation near the contact with the Dunderberg Shale.”
In addition to follow up work
required on untested gold in soil and rock chip samples at Flint Canyon and two
targets previously described herein; several other targets exist on the
property that warrant drill testing.
These targets will be summarized in a separate news release.
In the meantime Viscount is speaking
with interested parties about the Cherry Creek property.
All of the results given in this news
release were taken directly from the Rangefront Geological drill report
prepared for Summit Mining Exploration Inc. All of the assaying was done by an
ISO certified analytical company. Rangefront Geological and Summit geologists
do all their work using the best industrial practices.
Quality Assurance/Quality Control ("QA/QC")
Measures, Chain of Custody:
The Company has implemented a
rigorous QA/QC program using best industry practices at the Cherry Creek
Property. Drill core samples are transported in security-sealed bags for
analyses at ALS Labs Limited, of Elko, Nevada. Individual samples are labeled,
placed in plastic sample bags and sealed. Groups of samples are then placed
into durable rice bags that are then shipped. A small ‘B split’ of each sample
of drill cutting interval was collected at the rig and archived in secure
storage. The sample pulps and rejects will be retrieved from ALS. The insertion
of standards, blanks and duplicates as well as logging was conducted by
Rangefront Geological and Summit personnel at the property site.
Qualified Persons
The exploration and drill
programs were managed by David Tretbar, Summit Exploration’s Executive Vice
President, Exploration and Mineral Resources, a Qualified Person as defined by
NI 43-101. Mr. Tretbar is a registered Professional Geologist in Arizona (#
48036) and a Certified Professional Geologist (CPG # 11086) with the American
Institute of Professional Geologists.
The scientific and technical
information contained in this news release has been reviewed 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 an exploration company with a portfolio of silver
and gold properties in the Western United States, including Cherry Creek in
Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than
9,000 acres, all 100% owned, and includes more than 20 past producing mines.
Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the
historical past-producing mineral districts of Silver Cliff and Rosita Hills.
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: 604-960-0535
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 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.
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