Vancouver, British Columbia--(Newsfile Corp. - March 2, 2022) - Viscount Mining Corp. (TSXV: VML) (OTCQX:VLMGF) ("Viscount" or "the Company") is pleased to announce our first results on the New Century-Rattlesnake Target from the 2021 work program on the 100% controlled Cherry Creek Project in eastern White Pine County, Nevada. Our partner Centerra Gold Inc. (Centerra) (TSX: CG) (NYSE: CGAU) conducted geological mapping and geochemical sampling on the property with the results below.
The Target Area Location Map below shows the eleven target areas, including the recent news released Last Chance, TiCup and Star targets; that have been the subject of focused prospecting, geochemical sampling and geophysics work. It also shows the outline of our enlarged claim position. All the targets will be discussed in upcoming news releases. This release highlights the New Century Target Area.
New Century-Rattlesnake Target Area Location
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The New Century - Rattlesnake target is comprised of the New Century (Imperial) and Exchequer mines on the southwest side of the target area in Exchequer Canyon, and a large cluster of un-named gold prospects on the northeast side of the target area in Rattlesnake Canyon. In between these areas are numerous precious metals prospects. These mines and prospects lie in faults and veins proximal to the Exchequer master fault. The Exchequer fault strikes in a northeast direction running from the Golden Butte/Limousine Butte gold mine area on its southwest end a few miles west of the Cherry Creek property, to the cluster of high-grade gold prospects in Rattlesnake Canyon at its northeast extent.
The Exchequer and New Century mines are the largest precious metal occurrences on the Exchequer fault in the target area. Production from these mines is reported by F.C Schrader in University of Nevada Bulletin 14a, Nevada State Bureau of Mines and Mackay School of Mines, 1931; as $3,000,000 in silver at silver grades of 22 opt and gold grades of 0.05 opt gold. Schrader did not break out the gold production, but it is included in the dollar amount above. (Not NI 43 101 compliant)
Mineralization at the New Century - Rattlesnake target and the past producing mines is generally localized along east-northeast near vertical quartz veins hosted in argillite, limestone, shale, and quartzite. Parallel structures are common. Additionally, many of the faults had been intruded by quartz monzonite porphyry. These are the areas where the mineralized veins form.
The strike length of the mineralized zone on the New Century-Rattlesnake target area is 2100 meters and the target area encompasses 703.75 acres or 284.8 hectares.
One hundred fifty-one rock samples and three hundred eighty-one soil samples were collected in the New Century-Rattlesnake target area and analyzed for gold, silver, and pathfinder elements. The maximum rock sample for gold is 76.9 g/t. It was initially reported our news release dated October 20, 2020. This sample represents the highest gold value in a rock-chip sample on the Cherry Creek project. A significant amount of additional sampling in 2021 has greatly expanded the Rattlesnake Canyon portion of this target area. Twenty-two rock samples ran greater than or equal to 1 g/t gold. Fifteen rock samples ran greater than or equal to 2 g/t. Nine rock samples ran greater than or equal to10 g/t. Four of the rock samples ran greater than or equal to 20 g/t. The high soil sample for gold was 99 ppb. These are significant gold values that occur in clusters over a long strike length, leading us to believe in the excellent potential of this target.
Gold Values - New Century-Rattlesnake Target Area
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The maximum rock sample for silver was 2,580 g/t, while the maximum silver value in soils was 5.43 g/t. Thirteen rock samples ran greater than or equal to 100 g/t Ag. Four rock samples ran greater than or equal to 1,000 g/t Ag. Silver geochemical values are presented on the New Century-Rattlesnake Target soil and rock sample map below:
Silver Values - New Century-Rattlesnake Target Area
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So far, Centerra has taken 1005 rock chip samples and 1207 soil samples. They have collected 82.6-line km of IP, 8 square km of ground magnetics and 850-line km of airborne magnetics. In addition, they completed a small Tromino survey (passive seismic tool for mapping stratigraphy and structure under pediment cover).
First pass mapping and sampling have been completed over large portions of the property. Additional work field work plans will be made after results are received and reviewed.
Centerra undertook the staking 278 new lode claims bringing the total number of unpatented lode claims to 578. The property also includes 17 patented lode claims. These new claims strengthen our position in the district and cover permissive lithologies, known mineralization as well as mineralized projections.
Road building and construction of 11 pads has been completed.
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. Rock and soil samples are placed in securely sealed bags for transportation to the Bureau Veritas Mineral Laboratory in Elko, Nevada, for sample preparation and subsequent analysis at Bureau Veritas Mineral Laboratories Canada, in Vancouver. The insertion of standards, blanks and duplicates was conducted by Centerra personnel at the property site.
Analysis for rock samples is completed at Bureau Veritas using the following prep and analysis packages:
PRP 70-250 Crush, split and pulverize 250g rock to 200 mesh
FA450 50g Lead Collection Fire Assay Fusion - AAS Finish
AQ 201 1:1:1 Aqua Regia digestion ICP-MS analysis
Analysis for soil and sediment samples are completed at Bureau Veritas using the following soil and sediment prep and analysis packages:
DY060 Dry at 60C
SS80 Dry at 60C sieve 100g to -80 mesh
FA450 50g Lead Collection Fire Assay Fusion - AAS Finish
AQ 201 1:1:1 Aqua Regia digestion ICP-MS analysis
DISP2 Heat treatment of Soils and Sediments
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 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 lode claims 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. Based on the accumulated data and feasibility study, Tenneco Minerals made the decision with silver at $5.00 USD an ounce to construct at that time a $35,000,000 USD milling operation for the extraction of the silver reserves at Silver Cliff. Shortly thereafter Tenneco's Mining Unit was sold, and the planned milling operation was abandonedThe 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 578 unpatented and 17 patented claims as well as mill rights. Cherry Creek includes more than 20 past producing mines. In January 2021, Viscount entered an exploration earn - in agreement with a wholly owned subsidiary of Centerra Gold Inc. Centerra Gold Inc. is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Turkey, and other markets worldwide.
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
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.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE 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.
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