Monthly Archives: September 2016

Viscount Announces Strong Magnetic Correlation with Known Silver Mineralization and Discovery of Untested Drill Targets at Silver Cliff, Colorado

Viscount Mining Corp

PRESS RELEASE                                                                                              September 13, 2016

VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or “the Company”) is pleased to announce the Company has an update on field exploration and preparations for drilling at Silver Cliff, Colorado.

The exploration currently underway as announced on July 6, 2016 is to facilitate a confirmation of historic drill holes for a core drill program planned for September 2016. This program is intended to help define the structural setting that controls silver mineralization and other possibly economic commodities.

In late July 2016, the Company completed over thirty line-miles of magnetic geophysical surveying. The resulting extensive data package has subsequently been compiled and clearly shows a good correlation between high magnetic responses and silver mineralization encountered by historical drilling. Not only do the high magnetic responses correlate with known silver mineralization, but there also are other high response zones that remain open or untested by drilling. These represent areas to target for discovery of extensions to reported mineral inventories and additional zones of mineralization.

The activities at Silver Cliff currently ongoing are:

  • Detailed geological mapping and sampling to verify previous historical work and geochemical assays
  • Acquisition of additional maps and data to supplement the Company’s extensive knowledge base
  • Preparations for a phase one drill program planned for September 2016
  • Digitalization of all critical information for use in an upcoming NI 43-101 technical report.

Past drilling at Silver Cliff was designed to test only the flat-lying shallow mineralized bodies with vertical holes but not the high-angle mineralized structures which are now interpreted to be the ultimate controls for ore emplacement. This indicates that follow-up drill programs need to include angle holes which will test these mineralized structures.

Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study which formed the company’s decision to put the property into production. Plans were halted due to the restructuring of Tenneco after it was sold.

The Silver Cliff claim block is thought to overlie a large caldera and porphyry system which increases the potential to host a number of deposit types ranging from precious metals to base metals. This has been demonstrated in the mineralogy and grades reported in historical documents describing a number of underground mining operations dating back to the late 1800’s and early 1900’s.

Jim MacKenzie, the Company’s President and CEO stated “We are very excited to see Silver Cliff progressing forward at this accelerated pace. The upcoming drilling is expected to be a major step in moving Silver Cliff toward being a premier silver property in the Western US”.

The Company further announces that pursuant to the Company’s Stock Option Plan it wishes to grant 300,000 stock options at a price of $0.57 per common share to 3 directors, of the Company. As per the Company’s Stock Option Plan, the options granted are exercisable until September 8, 2021. Grant of the options is subject to the approval of the TSX Venture Exchange.

About Silver Cliff Property

The Silver Cliff property lies within the historic Hardscrabble Silver District in Colorado. The Property consists of 96 lode claims where high grade silver, gold and base metal production came from numerous mines during the period 1878 to 1894. It is located 44 miles WSW of Pueblo, Colorado, and has year-around access by paved road. The property underwent substantial exploration between 1967 and 1984 for the purpose of defining mineral inventories. The major explorers were Freeport, Hecla, Homestake, Moly Corp, Coca Mines and Tenneco Minerals. Based on historical reports, 40 to 50 million ounces of silver is considered reasonable to target with the planned and successive phases of drilling, however, this potential quantity is conceptual in nature and it is uncertain whether further exploration will result in the targeted quantity being delineated as a mineral resource.

Qualified Persons

The scientific and technical information contained in this news release has been reviewed and approved by Dallas W. Davis, PEng, 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 gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 10,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. 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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Drilling has Commenced at Viscount’s Flint Canyon, Cherry Creek Property in Nevada

Viscount Mining Corp

PRESS RELEASE                                                                                             September 7, 2016

VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or “the Company”), is pleased to provide an update on its flagship Cherry Creek Nevada Property (the “Property”). The Phase 1 drilling has commenced at Flint Canyon and is being managed and funded by Summit Mining Exploration Inc. (“Summit”), a wholly-owned US subsidiary of Sumitomo Corporation, under the Exploration-Earn In Agreement.

Phase 1 Reverse Circulation (RC) Drilling Program at Flint Canyon

Drilling has begun at Flint Canyon and is being conducted by Boart Longyear of Salt Lake City, Utah. The Global Drilling Services Division of Boart Longyear, founded in 1888, operates in over 30 countries for a diverse mining customer base, spanning a wide range of commodities, including gold, silver copper, nickel, zinc, uranium, and other metals and minerals.

The drill program will comprise approximately 18 reverse circulation (“RC”) holes totaling 14,366 feet (4,380 m). The Flint Canyon area contains highly dissected fault blocks of the Dunderberg Shale with the underlying Marjum Limestone and overlying Notch Peak Limestone. The Pogonip Formation overlies the Notch Peak and both units are important host rocks for Carlin-type gold mineralization in east-central Nevada. Assay results will be released as they become available from ALS Labs Limited of Elko, Nevada.

Mark Abrams of the Viscount Technical Advisory Board, who was recognized for his work on developing the Pequop Trend where Cherry Creek is located in eastern Nevada, stated, “In my experience, the well-developed plumbing system, the large size and amount of the jasperoids, the amount of altered rock and the focused nature of the soil anomalies combine to make the drill targets as compelling as any I have seen elsewhere at important projects and mines in eastern Nevada.  This bodes well for the project. Flint Canyon has continued to deliver exceptional results and I am very enthusiastic about the current drill program.”

Property Road Access Improvements

Road contractor Legarza Exploration & Construction has completed construction on the 6700 ft. new access road and nine drill pads at Flint Canyon.

About Flint Canyon

The 2015 and 2016 mapping at Flint Canyon found the faulting to be more complex than previously indicated on the Adair 1961 geologic base map. Summit’s mapping program found that east-west orientated faults and fractures, which are important ore controlling structures at the Ticup and Star Mines, also occur in the area. The Flint Canyon area contains highly dissected fault blocks of the Dunderberg Shale with the underlying Marjum Limestone and overlying Notch Peak Limestone. The Pogonip Formation overlies the Notch Peak and both units are important host rocks for Carlin-type gold mineralization in east-central Nevada.

Jasperoid occurrences in Nevada are extremely significant in context to Carlin-type gold deposits and mineralized jasperoid outcrops are common throughout the Flint Canyon area. They occur principally along the base of the Dunderberg Shale, but other outcrops are found along the Pogonip-Notch Peak contact. Many major gold discoveries have been made based on the presence of outcropping, weakly mineralized jasperoid hosted in and along bedding contacts of carbonate rocks. At Flint Canyon, jasperoid is found in the same carbonate rocks that are prolific host rocks at nearby large gold deposits (Newmont Mining-Long Canyon and Kinross Gold Corporation-Bald Mountain deposits).

The jasperoid beds, interpreted as west dipping tabular features, occur along the base of the Dunderberg Shale and within the Pogonip group limestone. Summit’s geological team indicates that the Dunderberg Shale is generally recessive and is exposed mainly along the outcropping contacts with more competent rocks. The Dunderberg appears to be moderately altered throughout its distribution, and, at Flint Canyon, it experienced widespread and significant alteration by hydrothermal fluids. The underlying Marjum Limestone is usually competent and unaltered, while the overlying Pogonip exhibits variable alteration.

Mineralization identified by this work is hosted within and extending out from silica bodies known as jasperoids formed at the Pogonip Limestone/Notch Peak Limestone contact, within the Dunderberg Shale, and within and extending out from jasperoids formed at the Dunderberg Shale/Marjum Limestone contact. Jasperoids form from silica and iron replacement of the limey component of rocks when warm springs carrying silica, iron and potentially metals such as gold circulate through the rock column. As the silica and iron rich waters percolate through the rock, the limey component of the rock dissolves, migrates away and redeposits as calcite veins (calcium carbonate) in areas outboard of the warm spring waters. The host rock, depending on its content of limey material, may form caves or even collapse as the limey component is flushed out. Collapse features have been noted in outcrop and in new road cuts in the anomaly areas of Flint Canyon. This event makes the rock more permeable and allows even more silica rich waters to flow in.  As the waters flush in they begin to deposit silica and iron as jasperoids. Gold deposition can occur as part of this process and, in fact, has at Flint Canyon.

The Cherry Creek district, including Flint Canyon, is cut by very deep seated fault structures. These faults would have provided a very good plumbing system that allowed – mineralizing waters to circulate through the rock column over a large area.  In looking at the gold mineralized rock at Flint Canyon, one can see more than one event of silica, iron and likely gold introduction into the rock. Multiple events like this have been known to drive up the gold grade at other projects and may also have done so at Flint Canyon.

Jim MacKenzie, Viscount President and CEO stated: “We are very pleased with completion of the new road and the commencement of the first drill program at Flint Canyon, which we anticipate will validate the soil and rock samples from the previous work programs. Based on the history of Carlin type deposits, we feel it has the potential to host large bodies of mineralization.”

Qualified Persons

The scientific and technical information contained in this news release has been reviewed and approved 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”).

The exploration and drill programs are being 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. Mr. Tretbar holds a Master’s Degree in Geochemistry from the Mackay School of Mines, University of Nevada Reno.

The Company further announces that it has granted 255,000 stock options to consultants of the Company.  The option grants will vest immediately and as per the Company’s Stock Option Plan, the options granted are exercisable until August 8, 2021.  Grant of the options is subject to the approval of the TSX Venture Exchange.

About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF)

Viscount Mining is an exploration company with a portfolio of gold and silver 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.  Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property.  Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement.  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

About Sumitomo Corporation

Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in businesses from the information industry to the retailing industry.  Summit Mining Exploration, Inc. is a wholly-owned subsidiary of Sumitomo Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp

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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