PRESS RELEASE October 24, 2017
VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or the “Company”) is pleased to announce that its Phase 2 twin drilling program has commenced at Silver Cliff, Colorado, using a coring rig operated by BDW International Drilling Inc.
Geologist Harald Hoegberg has been engaged for on-site supervision of the drill program to ensure compliance with QA/QC protocol adopted in consultation with our Qualified Person (QP) Dallas Davis. Dr. Gilles Arseneau of “Arseneau Consulting Services” is providing overall supervision and has chosen 10 of the Kate Silver Deposit historical drill holes to be twinned.
Results will assess upside potential and contribute to the verification of historical resources at the nearly flat-lying Kate Silver Deposit which, at less than 70 feet (21 metres) depth and up to 88 feet (27 metres) apparent true thickness, would have open pit mining potential. The 2017 holes will be drilled to an average depth of about 328 feet (100 metres) versus an average of 197 feet (60 metres) for historic drilling at Kate.
Dr. Howard Lahti, VP Exploration, stated “I am extremely optimistic that this 2nd phase of drilling will not only advance confidence in the historical silver mineralization reported for the Kate Deposit, but also demonstrate that there is considerable resource potential at depth.” Historical records show that deeper rhyolite tuff layers have elevated silver concentrations. In particular, a number of the few historic holes deeper than 197 feet (60 metres) either ended in or passed through mineralized tuff and Emmons (1896, p. 10) reported “films or stains of metallic sulphides, said to assay high in silver… lining delicate cracks in the tuff” units intercepted when sinking the 2,640-foot (805 metres) Geyser mine shaft approximately 2625 feet (800 metres) southeast of Viscount’s 2016 drill holes. 5 of the 10 planned holes will therefore probe to depths of more than 328 feet (100 metres) to test the potential continuity and grade of deeper mineralized tuff while one or more of the holes will test prominent cross-cutting faults for high grade silver, either in altered adjacent volcanics or in veins within the fault zones.
Chairman Kaare Foy stated “We have the opportunity to bring an historical resource current. The drill results from our phase one program showed some of the highest silver grades drilled in North America. As we continue with the Phase two drill program we will work toward the beginning of a current silver resource at Silver Cliff.”
In summary, Viscount will continue the process commenced with Phase 1 in 2016 for twinning past drill holes to determine intercept details that have not been available for preparing a NI-43-101 update of the historical silver resource. The drilling will also test the potential for multiple mineralized zones that would increase the volume of material accessible by open pit mining.
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”), has prepared, supervised the preparation or approved the scientific and technical disclosure in this news release.
About Viscount Mining (TSX VENTURE: VML) (OTCQB: 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 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 2,029 acres 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 Minerals 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. Other companies exploring here besides Tenneco Minerals have included: Freeport, Hecla, Homestake, Moly Corp, Coca Mines and Tenneco Minerals. In January 2017, Viscount Mining reported additional high grade silver intersections from the drill program completed in December 2016.
The Cherry Creek Property is focused on exploration in the immediate vicinity of an area commonly known as the Cherry Creek Mining District, located approximately 30 miles north of the town of Ely, in White Pine County, Nevada. Cherry Creek consists of over 400 unpatented and patented claims as well as mill rights, and is comprised of more than 8,000 acres. Cherry Creek includes more than 20 past producing mines including Blue Bird, Chance Mine, Filmore, Last Chance, Exchequer/ New Century Mine, Ticup and Motherlode mines.
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
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 1 844 863 3622
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.
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.