Viscount Mining Commences Drilling Significant Large Geophysical Anomaly Indicating Potential Porphyry Type Deposit at Silver Cliff, Colorado.
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 ha iniziato a perforare presso l'obiettivo Passiflora a Silver Cliff, Colorado, concentrandosi su un'importante anomalia geofisica. L'anomalia, rilevata dal sondaggio di Quantec, indica un potenziale sistema mineralizzato di grandi dimensioni che inizia a circa 400 metri di profondità e si estende fino a circa 1,5 km, con una lunghezza rilevabile di circa 1,4 km e una larghezza di almeno 700 metri, rappresentando un volume di oltre 665.000.000 m³.
Rapporti storici del 1983 indicavano almeno 64 milioni di once d'argento a 51,9 G/T (non conforme alle norme NI 43-101). L'azienda sta avviando un programma di perforazione di 8000 metri, partendo con un foro esplorativo di 1500 metri. Le perforazioni precedenti di sei fori poco profondi hanno mostrato alterazione fillica e un aumento della concentrazione di metallo in tutto il sito.
Il contesto geologico, all'interno di una caldera, l'alterazione associata e la presenza di depositi Manto suggeriscono una possibile scoperta in stile porfido. Quantec ha notato che questa è una delle anomalie di resistività più basse che abbiano mai incontrato.
Viscount Mining ha comenzado a perforar en el objetivo Passiflora en Silver Cliff, Colorado, centrándose en una anomalía geofísica significativa. La anomalía, detectada por la encuesta de Quantec, indica un sistema mineralizado potencialmente grande que comienza a aproximadamente 400 metros de profundidad y se extiende hasta 1,5 km, con una longitud detectable de aproximadamente 1,4 km y un ancho de al menos 700 metros, representando un volumen superior a 665,000,000 m³.
Los informes históricos de 1983 indicaron al menos 64 millones de onzas de plata a 51,9 G/T (no conforme a la norma NI 43-101). La empresa está lanzando un programa de perforación de 8000 metros, comenzando con un agujero de exploración de 1500 metros. La perforación previa de seis agujeros poco profundos mostró alteración fílmica y aumento de la concentración de metales en todo el lugar.
El contexto geológico, dentro de una caldera, la alteración asociada y la presencia de depósitos de Manto sugieren un posible depósito de estilo pórfido. Quantec señaló que esta es una de las anomalías de resistividad más bajas que han encontrado.
Viscount Mining는 콜로라도의 실버 클리프에 위치한 파시플로라 타겟에서 중요한 지구물리학적 이상현상에 집중하여 드릴링을 시작했습니다. Quantec의 조사에서 감지된 이 이상현상은 약 400m 깊이에서 시작하여 약 1.5km까지 확장되는 잠재적으로 큰 광물화 시스템을 나타내며, 약 1.4km의 감지 가능한 길이와 최소 700m의 너비를 가지고 있어 665,000,000m³ 이상의 부피를 나타냅니다.
1983년의 역사적 보고서에 따르면, 64M 온스의 은이 51.9 G/T (비 NI 43-101 준수)로 존재한다고 합니다. 이 회사는 1500m의 탐사 발견 구멍부터 시작하여 8000m 드릴 프로그램을 시작하고 있습니다. 이전에 실시된 6개의 얕은 구멍의 드릴링에서는 필릭 변화를 보여주며 금속 농도가 증가하는 것을 확인했습니다.
칼데라 안의 지질적 환경, 관련된 변화 및 만토(Manto) 매장물의 존재는 포르피리 스타일의 매장물 가능성을 암시합니다. Quantec은 이것이 그들이 만난 가장 낮은 저항성 이상 중 하나라고 언급했습니다.
Viscount Mining a commencé à forer sur la cible Passiflora à Silver Cliff, Colorado, en se concentrant sur une anomalie géophysique significative. L'anomalie, détectée par l'enquête de Quantec, indique un système minéralisé potentiellement important commençant à environ 400 mètres de profondeur et s'étendant jusqu'à environ 1,5 km, avec une longueur détectable d'environ 1,4 km et une largeur d'au moins 700 mètres, représentant un volume supérieur à 665 000 000 m³.
Les rapports historiques de 1983 ont indiqué au moins 64 millions d'onces d'argent à 51,9 G/T (non conforme à la norme NI 43-101). L'entreprise lance un programme de forage de 8000 mètres, commençant par un trou de découverte d'exploration de 1500 mètres. Les forages précédents de six trous peu profonds ont montré une altération phyllique et une augmentation de la concentration métallique dans l'ensemble de la zone.
Le cadre géologique, au sein d'une caldera, l'altération associée et la présence de dépôts Manto suggèrent un potentiel dépôt de style porphyre. Quantec a noté qu'il s'agit de l'une des anomalies de résistivité les plus faibles qu'ils aient jamais rencontrées.
Viscount Mining hat mit Bohrungen am Ziel Passiflora in Silver Cliff, Colorado, begonnen und konzentriert sich dabei auf eine erhebliche geophysikalische Anomalie. Die Anomalie, die durch die Untersuchung von Quantec erkannt wurde, deutet auf ein potenziell großes mineralisiertes System hin, das in einer Tiefe von etwa 400 m beginnt und sich bis zu etwa 1,5 km erstreckt, mit einer nachweisbaren Länge von etwa 1,4 km und einer Breite von mindestens 700 m, was ein Volumen von über 665.000.000 m³ darstellt.
Historische Berichte aus dem Jahr 1983 wiesen auf mindestens 64 Millionen Unzen Silber bei 51,9 G/T hin (nicht NI 43-101-konform). Das Unternehmen startet ein Bohrprogramm über 8000 m, beginnend mit einem 1500 m tiefen Erkundungsbohrloch. Frühere Bohrungen von sechs flachen Löchern zeigten phyllitische Veränderungen und eine erhöhte Metallkonzentration im gesamten Bereich.
Die geologische Umgebung innerhalb einer Caldera, die damit verbundene Alteration und das Vorhandensein von Manto-Ablagerungen deuten auf die Möglichkeit eines porphyrischen Deposit hin. Quantec wies darauf hin, dass dies eine der niedrigsten Widerstands-Anomalien ist, die sie je festgestellt haben.
- Large-scale geophysical anomaly detected with significant mineralization potential
- Historic reports indicate substantial silver resource (64M oz at 51.9 G/T)
- Previous drilling showed consistent metal concentration increases
- Launching comprehensive 8000m drill program
- Historic silver resource estimates are not NI 43-101 compliant
- Significant depth of target (400m-1.5km) could increase mining costs
- New stock options grant of 3,750,000 at CAD$0.30 may cause dilution
- According to Quantec geoscientists, a deposit with this large size and this high of a conductivity (extremely low resistivity) is likely explained by a significant system of interconnected mineralized fractures.
- The main body of the conductive anomaly starts at a depth of ~400m and continues to a depth of ~1.5km, maybe deeper. The detectable length of the anomaly is ~1.4km in the SW-NE direction with a width of at least 700m and an open interpretation to the untested NW. This represents a total volume of over 665,000,000m3 as determined by Quantec.
Vancouver, British Columbia--(Newsfile Corp. - January 22, 2025) - Viscount Mining Corp. (TSXV: VML) (OTC Pink: VLMGF) ("Viscount" or "the Company") is pleased to announce drilling has commenced on the Passiflora in Silver Cliff, Colorado.
During the Viscount drill campaign in 2017 at the Kate Silver Resource, field reconnaissance noted that areas to the north seemed to exhibit phyllic/argillic alteration. This was confirmed by drilling in this area in 2020 to 2022, and showed anomalous precious and base metal concentrations. The only historic report available on the Passiflora target is one written by R. A. Rivera for Coca Mines in 1983. In this report, Rivera gives a brief history of the exploration efforts, and a reserve calculation for the Passiflora target released indicated at least 64M oz. silver at 51.9 G/T (not NI 43-101 compliant). It is noted in his report that the deposit was presented as "a set of steeply dipping, NNW striking, tabular mineralized zones" (Rivera, 1983). It is also implied that the deposit could go much deeper as Rivera states that some drill holes presented high assay values at their total depths but they did not test the conductive anomaly at depth as identified by Quantec.
The Quantum Geophysics TITAN MT completed resistive survey under took by Viscount showed that a strong conductor was present staring at a depth of around 400 meters, and continues to ~ 1.5km (the lower limit might be somewhat different). Viscount is inaugurating an 8000m drill program starting with drilling a 1500m core exploratory discovery hole to try to determine the nature of this anomaly. The geologic setting, in a caldera, the associated alteration and the presence of Manto deposits, make it possible that a porphyry style deposit may be reason for the geophysical anomaly.
Figure 1, below, is a cross section of through line L1E which depicts a view of the massive, low resistivity anomaly described by Quantec. As shown, the bowl-shaped anomaly extends ~1400m (~4590 ft) across the center of the caldera, and at least 1500m (~4920 ft) deep, maybe deeper, depending upon the accuracy of resistivity detection below the conductive body.
Figure 1. A cross section through line L1E showing resistivity (in ohm-m) to a depth of ~2400 meters (~7975 feet) below the surface.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2736/237886_d7b57d4ea4551bbe_002full.jpg
Jim MacKenzie, Viscount CEO commented, "We are excited to begin our drill program aimed at determining the composition of the very high conductivity source. The volcanic history of the region as a caldera makes it completely reasonable to assume that the Passiflora target could be a porphyry at depth. Quantec Geoscience stated this is one of the lowest resistivity anomalies they have ever seen. The Quantec survey shows that the geophysical foot print has the indication that we are looking at a potentially significantly large mineral system at the Passiflora."
Viscount has drilled a total of six shallow drill holes throughout the Passiflora target, with the deepest hole going 215m (705 ft) below the surface. In each of the six holes, evident phyllic alteration and associated metal concentration increases were observed throughout the entire drilled depth. The level of increased alteration displayed, as well as the volcanic history of the region as a caldera, prompted Viscount Mining to further explore the probability of the Passiflora target presenting as a porphyry at depth.
Viscount is also in the process of mapping the upcoming drill program to continue to advance the Kate Deposit.
Qualified Persons
The scientific and technical information contained in this news release has been 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").
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The Company also announces that is has granted an aggregate of 3,750,000 options ("Options") to Directors, Officers and consultants of the Company with such Options being exercisable at an exercise price of Cdn
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 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
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 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 is a Canadian-based gold mining company focused on operating, developing, exploring and acquiring gold properties in North America, Asia 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 actual size of the anomaly, feasibility, grade of mineralization and the content of the mineralization. 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 SEDARPlus. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/237886
FAQ
What is the size of the geophysical anomaly discovered at Viscount Mining's (VLMGF) Silver Cliff project?
What is the historical silver resource estimate at VLMGF's Passiflora target?
What is the scope of VLMGF's new drilling program at Silver Cliff?
What did previous drilling results show at VLMGF's Passiflora target?
