PRESS RELEASE
January
19, 2017
·
Drill Hole K16-01 assayed 1,778.5 g/t (57.2 oz/t) silver over a 20-ft.
(6.1m) interval within a 50 ft. (15.2m) mineralized intersection averaging 837.4
g/t (26.9 oz/t)
VANCOUVER, Canada –- Viscount
Mining Corp. (TSX-V: VML) (OTCQB:
VLMGF) (“Viscount” or “the Company”), is pleased to announce further drill
results from the Silver Cliff property in the Hardscrabble Silver District of Custer
County, Colorado (the "Property"). The 2016 drill program commenced
in mid-November had as its primary objective the confirmation of information in
reports on historical drilling on one of the Silver Cliff deposits known as the
Kate Silver Resource (the “KSR”) by twinning historic holes.
Nine holes with a total of
1,502 ft. (457.8 m) were completed in the recent campaign and this release is
reporting values from K16-01, K16-03, K16-04, K16-05, K16-06,
and K16-08 from which core was assayed at
ALS Canada Ltd., at their laboratories in Reno, Nevada, and Vancouver, BC. In
the case of K16-08, core sampling and, hence, assaying inadvertently stopped at
173 feet (52.7 m), only 3 feet (0.9 m) past the historical intersection of
silver mineralization. Viscount will extend the sampling of this hole when the
next phase of work commences.
A summary of drill intersections
for which assays have been received to date is presented below. The hole
collars lie within a northeast trending corridor that is 833 ft. (254m) from K16-05
to K16-03. Holes K16-03 and -04 were drilled at -90° (vertical) and the others
toward north at -60° to the horizontal. Although rock units dip or slope at 2°
to 5° toward the east-southeast as noted under the heading “Silver Cliff
Geology”, the present interpretation is that silver-bearing mineralization and
silica have replaced portions of a porous limestone reef unit. Such replacement
is typically uneven rather than uniformly tabular. Because of this and the
early stage of drilling, true widths are not estimated.
Viscount Hole #
|
Twinned Hole #
|
From (m)
|
From (ft.)
|
To
(m)
|
To
(ft.)
|
Length (m)
|
Length (ft.)
|
Ag
(oz/t)
|
Ag
(g/t)
|
K16-01
|
73-2
|
16.76
|
55
|
32.00
|
105
|
15.24
|
50
|
26.9
|
837.4
|
K16-01
|
73-2
|
18.29
|
60
|
28.04
|
92
|
9.75
|
32
|
40.9
|
1271.1
|
K16-01
|
73-2
|
18.29
|
60
|
24.38
|
80
|
6.09
|
20
|
57.2
|
1778.5
|
K16-03
|
89-27
|
17.37
|
57
|
34.14
|
112
|
16.77
|
55
|
4.5
|
141.1
|
K16-03
|
89-27
|
24.99
|
82
|
34.14
|
112
|
9.15
|
30
|
7.8
|
242.0
|
K16-04
|
89-26
|
15.54
|
51
|
36.88
|
121
|
21.34
|
70
|
5.7
|
178.5
|
K16-04
|
89-26
|
18.59
|
61
|
34.15
|
121
|
18.29
|
60
|
6.5
|
203.4
|
K16-04
|
89-26
|
23.17
|
76
|
34.15
|
121
|
13.72
|
45
|
8.1
|
250.7
|
K16-05
|
89-53
|
19.81
|
65
|
33.53
|
110
|
13.72
|
45
|
12.6
|
390.9
|
K16-06
|
88-2
|
19.81
|
65
|
36.58
|
120
|
16.77
|
55
|
1.2
|
36.1
|
K16-06
|
88-2
|
30.48
|
100
|
36.58
|
120
|
6.10
|
20
|
1.7
|
53.8
|
K16-08
|
88-36
|
32.00
|
105
|
52.73
|
173
|
20.73
|
68
|
7.4
|
228.6
|
K16-08
|
88-36
|
35.05
|
115
|
52.74
|
173
|
17.68
|
58
|
8.6
|
265.9
|
Kaare Foy, Viscount
Chairman stated: “We are very pleased with the drill program conducted in 2016
as it has demonstrated that there is significant silver mineralization that
occurs at a shallow depth between 50 ft. (15.2m) to about 175 ft. (53.3m) that
may be amenable to open pit mining. More drilling and a prefeasibility report
will need to be done before an economic evaluation can be made. These results
have prompted the Company to consider doing additional mapping, possible
geophysical surveys and more strategically placed drill holes to outline the
shape, dimensions, and potential grade. Once this is completed and if warranted
by the results, a prefeasibility study will be considered that will include
extensive metallurgical studies, mining methods, and costs.”
Silver Cliff Geology
The following information
has been obtained from historical reports that describe the Kate silver
prospect.
Structure in the area appears
quite simple. Dips are to the east-southeast at 2o to 5o. Faulting is not
obvious on the surface and a contour map of the surface of the lower obsidian
suggest that no faults with more than 50 feet of displacement occur within the
area of the Kate mineralization. Examination of PQ wireline core drilled in
1989 for a metallurgical sample, indicate; however, that faults with minor
displacement are numerous.
Jim Ebisch reiterated what
he stated in the December 21st news release, namely that “The 2016
drilling shows that the silver mineralization (blue-grey mineralization) is
hosted predominantly by a gently-dipping, silicified carbonate reef that formed
during a volcanic hiatus. The Kate Silver Resource (the “KSR”) at this juncture
appears to be the result of simple carbonate replacement by silica-rich,
silver/lead/zinc-bearing fluids adjacent to interpreted deep seated epithermal
veins. These carbonate rock systems replaced by silicification–associated
resources are commonly found over large lateral extents and the greatest
promise for the KSR may eventually lie in undiscovered stacked horizons, in
combination with high-grade epithermal veins that may underlie the KSR.”
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. The
major explorers were Freeport, Hecla, Homestake, Moly Corp, Coca Mines and
Tenneco Minerals.
The Silver Cliff Property is
interpreted to encompass a large caldera and porphyry system which offers
potential to host a number of deposits from both precious metals to base
metals. This has been demonstrated in the mineralogy and grade historically
extracted from numerous underground mining operations dating back to the late
1800s and early 1900s.
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. Reported historical
silver grades range from below detection to a high of 2,125 g/t (68 o/t) Ag
over 13.4 metres. Reported historical gold grades range from below detection to
a high of 9.06 g/t (0.29 o/t) Au over 1.2 metres. Plans were halted due to the
restructuring of Tenneco after it was sold.
Quality Assurance/Quality
Control ("QA/QC") Measures, Chain of Custody
The Company has
implemented a QA/QC program using best industry practices at the Silver Cliff
Property. Drill core samples are sawn in half lengthwise and one half transported
in securely-sealed bags to the ALS laboratory in Reno, Nevada, for analysis. Prior
to transport, 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. The sample pulps and rejects will be retrieved from ALS. All samples were analyzed for Ag and 50 other
elements by ALS method “Ultra Trace Aqua Regia ICP-MS” with code ME-MS41. In
the case of Ag determined by this method to be in excess of 100 ppm, a further
analysis for Ag was done utilizing method “Ore Grade Aqua Regia ICP-AES” with
ALS code Ag-OG46. For the three 5-ft interval samples from K16-01 containing
more than 1,500 ppm Ag, the ALS method “Ag 30g FA – GRAV finish WST-SIM” with
code Ag- GRA21 was utilized.
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").
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
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.
###
