Viscount Mining Identifies Multiple
Gold, Silver and Base Metal Targets at Cherry Creek
Nevada
VANCOUVER, Canada ( September 8,
2021)-- Viscount Mining Corp. (TSX-V: VML) (OTCQX: VLMGF) ("Viscount" or "the
Company") is pleased to announce the
2021 work program on the 100% controlled Cherry Creek Project in
eastern White Pine County, Nevada is continuing to meet its planned
milestones.
Viscount's partner Centerra Gold Inc. (Centerra) has deployed
a team of geologists on the project since late January to conduct
field work that includes geological mapping, collection geochemical
samples and claim staking. Centerra's team is also
responsible for the oversight of the geophysical contractor crews
who are completing IP, aeromagnetic surveys, and ground magnetic
surveys on target areas developed by Centerra.
Both the new and historical geochemical sampling results
indicate the potential for multiple target types including sediment
hosted, disseminated gold deposits; manto or replacement silver
deposits; high-grade gold and silver vein deposits; and finally
intrusive related base metal deposits. The geophysical surveys also
lend support to the existence of these styles of targets being
present on the project and greatly assist in the
targeting.
The program was expanded based on results over time to
include the following activities:
1)
Rock geochemical sampling (425 samples to date).
2)
Soil geochemical sampling (625 samples to date).
3)
Geological mapping, initially focused on the Star and
Exchequer areas; moved onto the Doctor's Cut and TiCup mine areas;
and now has expanded property wide. This work is still very
much in progress and will be discussed in more detail at a later
date.
4)
IP survey (46.3-line km).
5)
Ground magnetic survey (8 sq. km.)
6)
Aeromagnetic survey (850-line km.)
Centerra undertook the staking of 262 new lode claims,
bringing the number of unpatented lode claims to 562. The property
also includes 17 patented lode claims. The new claims
were necessary in order to control and test the newly developing
exploration targets; as well as some the company had been working
up previously. The claims were primarily added to the west, north
and east sides of the project and include mineralized projections
of the Black Metal and Exchequer Faults.
Viscount CEO Jim MacKenzie stated: "The significance of the
additional claims has increased the size of Cherry Creek by more
than 7,011 hectares and has extended the opportunity to focus on
multiple gold, silver and base metal targets. Our partner Centerra
has diligently and methodically worked on the property this year to
significantly expand the potential of Cherry Creek. With many
probable target areas to work with, Cherry Creek is a district
play, rather than an individual target. We are looking forward to
the upcoming drill program"
In order to better understand the prospective of the
district, Centerra has utilized geochemical sampling and geophysics
to map the large Eocene intrusive rock body that floors the
district.
Eocene intrusive rocks in Nevada are closely associated with
many of the Carlin type gold deposits in the
region.
Knowing the footprint of this permissive rock unit can help
direct where budget resources are being spent to develop the
gold-silver and other related target environments on the
property.
This information along with stratigraphic and structural data
the geology team is currently gathering allows the prioritization
of the targets as we move forward. Centerra and Viscount
geologists are reviewing the data as it is received and are
continually updating our understanding of the property.
The company has been working with EM Strategies to permit an
initial Phase 1 core drilling program under a Notice of Intent
(NOI).
The NOI has been approved by the BLM.
The permitting work on Cherry Creek was done with a
forward-looking view to allow the program and permit to be expanded
if needed without undue delays.
QC and Analytical
Procedures
Results for this ongoing work are being received and will be
reported once this phase of work is complete.
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 (TSX VENTURE:
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 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 562 unpatented and 17 patented
claims as well as mill rights and is comprised of more than 7,011
hectares.
Cherry Creek includes more than 20 past producing
mines.
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
claims on 944 hectares 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 resulted in a historical pre-feasibility study on which
basis it was planned to bring the property to production. The plan
was abandoned following takeover by another company.
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: 1 844 863 3622
Email: info@viscountmining.com
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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.
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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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