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Overview and Core Business
Viscount Mining Corp (symbol: VLMGF) is a mining exploration and project generator company specializing in the assessment of precious and base metal resources in the Western United States. With an operational focus in regions such as Nevada and Colorado, the company employs advanced geological and geophysical techniques within historic mining districts known for their rich mineralization. Key industry terms such as mineral exploration, project generation, and drilling programs are intrinsic to its identity and provide context to its technical operations.
Business Operations and Exploration Strategy
The company’s strategy centers on exploring properties that have historical significance in silver, gold, and base metal production. It utilizes both reverse circulation (RC) drilling and core drilling methodologies to evaluate targets identified through detailed geochemical and geophysical surveys. The process involves mapping anomalies, analysis of soil and rock samples, and interpretation of geological structures to hypothesize potential mineralized zones.
Targeted Properties: Notably, the Cherry Creek property in Nevada and the Silver Cliff property in Colorado reflect the company’s diversified approach to exploration. These areas are characterized by historical mining activities with a legacy of high-grade mineral deposits.
Technical Approach: By integrating modern drilling techniques with extensive geological research, Viscount Mining is able to assess complex mineral systems. This scientific approach helps underpin the exploratory results and ensures that all investigations are firmly grounded in established geological principles.
Partnerships and Strategic Financing: The company has leveraged strategic partnerships, including ties with notable industry players such as a wholly owned subsidiary of Centerra Gold Inc. Additionally, its financing activities, including non-brokered private placements, are designed to fund exploration programs while maintaining operational flexibility.
Market Position and Industry Relevance
Positioned within a competitive sector of exploration and mining, Viscount Mining distinguishes itself through a methodical, data-driven approach. The company’s operations are imbued with technical expertise and industry-specific insights that offer a clearer understanding of regional mineralization trends. Rather than immediate production, its value lies in the identification and generation of projects that enhance the broader portfolio of potentially high-yield mineral resources. By focusing on long-established mining districts, the company underlines its commitment to long-term strategic exploration rather than short-term operational milestones.
Technical Analysis and Geoscience Insights
At the core of the company’s technical operations is a comprehensive analysis of geophysical anomalies including magnetic, resistivity, and geochemical signatures. These measurements are crucial for inferring the underlying structure of potential mineralized zones. For instance, anomalous soil and rock geochemical patterns have been pivotal in identifying targets that may host porphyry or other mineralized deposits. Such rigorous scientific methodologies reflect the company’s commitment to robust exploration practices.
Organizational Strength and Governance
Viscount Mining's governance framework emphasizes transparency, technical rigor, and strategic oversight. With experienced leadership at the helm, the company ensures that its exploratory initiatives are conducted within the appropriate regulatory and technical frameworks. Corporate actions such as shareholder meetings and the re-appointment of key advisory firms underscore a commitment to maintaining rigorous internal controls and robust governance protocols.
Conclusion
In summary, Viscount Mining Corp is an exploration-centric enterprise that combines advanced technical methodologies with strategic property evaluations in historically rich mining districts. Through partnerships, strategic financing, and methodical exploration practices, it endeavors to unlock the potential of its extensive mineral property portfolio. This detailed description provides investors and analysts with an enhanced understanding of its operations, technical capabilities, and strategic positioning in the mining exploration sector.
Viscount Mining has begun drilling at the Passiflora target in Silver Cliff, Colorado, focusing on a significant geophysical anomaly. The anomaly, detected by Quantec's survey, indicates a potentially large mineralized system starting at ~400m depth and extending to ~1.5km, with a detectable length of ~1.4km and width of at least 700m, representing a volume over 665,000,000m³.
Historic reports from 1983 indicated at least 64M oz. silver at 51.9 G/T (non-NI 43-101 compliant). The company is launching an 8000m drill program, starting with a 1500m core exploratory discovery hole. Previous drilling of six shallow holes showed phyllic alteration and increased metal concentration throughout.
The geologic setting, within a caldera, associated alteration, and presence of Manto deposits suggest a possible porphyry-style deposit. Quantec noted this as one of the lowest resistivity anomalies they have ever encountered.
Viscount Mining and partner Centerra Gold have initiated their drilling program at the Cherry Creek property in Nevada. The program targets two key areas: first, a region with significant molybdenum and gold geochemical anomalies in soil and rock samples, featuring gold-bearing jasperoid formations; second, the Exchequer Fault zone's extension. The magnetic anomaly in the first target suggests a possible mineralized porphyry at depth. The program consists of approximately seven Reverse Circulation (RC) drill holes, totaling 1,500 meters of drilling.
Viscount Mining Corp. (TSXV: VML) (OTC Pink: VLMGF) held its 2024 Annual General and Special Meeting of shareholders on September 23, 2024, in Vancouver, BC. The meeting saw a participation of 29,026,334 common shares, representing 26.34% of the company's outstanding common shares. Shareholders elected all director nominees listed in the Company's Management Information Circular dated August 20, 2024, including Jim MacKenzie, Andrew Gertler, Dr. Grant Devine, and Mark J. Abrams. Additionally, shareholders re-approved the Company's stock option plan and re-appointed Davidson & Company LLP as the Company's auditors.
Viscount Mining Corp. (TSXV: VML) (OTC Pink: VLMGF) has closed its over-subscribed non-brokered private placement, raising $5,552,300 by issuing 22,209,200 units at $0.25 per unit. Each unit includes one common share and one warrant exercisable at $0.30 for 24 months. The company will use the proceeds for exploration and development of its Colorado properties and general corporate purposes. Insider participation totaled 1,048,193 units. Viscount is preparing to drill exploratory holes at the Passiflora in Silver Cliff to test a large conductive anomaly, potentially indicating a significant mineral system. The company is also planning a drill program at the Kate Deposit in Silver Cliff, where it has an open pit NI 43-101 resource.
Viscount Mining has announced a $5,000,000 non-brokered private placement. The offering will comprise 20,000,000 units at $0.25 per unit. Each unit includes one common share and one transferable share purchase warrant, exercisable at $0.30 for two years. Up to 5% in cash may be paid as finders' fees. The proceeds will fund exploration, development, and working capital. Insider participation makes it a related party transaction under MI 61-101, but exemptions apply as insider involvement stays below 25% of market capitalization. Approval from TSX Venture Exchange is pending, and issued securities will have a four-month-plus-one-day hold period.
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