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Viscount Mining Corp. (VLMGF) is a project generator and exploration company with a focus on silver and gold properties in the Western United States. The company's flagship projects include Silver Cliff in Colorado and Cherry Creek in Nevada. Lux Partners, a key collaborator, has initiated the sales of Lux Silver, the world's first silver-backed Non-Fungible-Token (NFT), marking a significant milestone in the industry. With the commencement of revenue and ongoing exploration efforts, Viscount Mining is dedicated to driving innovation, efficiency, and shareholder value. Lux Mainnet, the operational digital network, is set to accelerate the project's visibility and accessibility for real-world transactions.
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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