Viscount Mining Commences Phase 2 Drilling Silver Cliff Colorado
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Viscount Mining Commences Phase 2 Drilling
Silver Cliff Colorado
Vancouver, British Columbia - (March 30, 2021) - Viscount Mining Corp. (TSX-V: VML) (OTCQB:
VLMGF) ("Viscount Mining") is pleased to announce it has commenced the second phase of a three
phase drill program at its Silver Cliff property in Colorado.
The 2021 phase 2 exploration campaign is designed to expand the NI 43-101 Kate Silver Resource (KSR)
done by Dr. Gilles Arseneau in 2018. This will be done by further defining the limits of the Kate East
zone, a zone that has the potential of raising the grade of the deposit. Viscount is also expanding the
drilling to increase the tonnage that can be included in upcoming resource reports. Also, additional
drilling will be conducted in the Passiflora target to continue to explore the potential to add to the total
resource of the Silver Cliff project
Fig 1. Aerial View of Viscount’s Silver Cliff Project and Phase 2 Proposed D.H. Locations
Four drill holes are planned to further define the Kate East zone. To date, all holes drilled by Viscount has
intercepted significant silver grades (see table below). If this continues, it will potentially improve the
grade of the resource as defined by Dr. Gilles Arseneau in his 2018 NI 43-101 report.
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Three drill holes are planned to be drilled to the east of DDH-20-10. Two are to the south-east of DDH-
20-10. Some historic drill results showed promise in this direction. The third is located about 485 m to the
east, and additional historic drill holes show promise in this area. If the drill hole indicates additional
mineralization. Subsequent holes will be drilled in phase 3 between this hole and DDH-20-10, and as
defined by the geophysical and geochemical surveys.
Fig 2. Structural Map of Viscount’s Project area and D.H. Locations
The maps above shows two different views of Viscount’s two primary working targets and planned drill
hole locations in phase 2. The first map is an aerial photograph showing the KSR general location and the
Passiflora target. The second map shows structure in the Silver Cliff caldera. Note the abundance of
curved faults that are so typical in calderas.
Viscount is also planning to drill three additional holes in the Passiflora target. Historic drilling has
showed significant silver and gold intercepts. An internal report from CoCa Mines in 1983, estimated a
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potential resource of 40 million short tons, based on 14 drill holes (not NI 43-101 compliant), with the
best intercept reporting to be 256 g/t silver and 1.4 g/t gold. Viscount drilled one hole in the Passiflora in
2020 to a depth of 193.9 m that showed anomalous silver throughout, some anomalous gold as well as
strong silica and clay alteration and pyritization over most of the hole.
Tenneco Minerals leased the property in 1987. They had the previous drill data available to them, which
was the results from 11,930 meters in 249 drill holes that had been done since 1968. The following two
years Tenneco drilled an additional 143 holes totaling 7,949 meters. Based on the accumulated data and a
feasibility study, Tenneco Minerals made the decision to construct a $35,000,000 milling operation for
the extraction of the silver reserves at Silver Cliff. Shortly thereafter Tenneco decided to sell the minerals
division, and the planned milling operation was abandoned.
Viscounts 2016 and 2017 drill campaigns was to confirm historic drilling in the KSR. This was necessary,
since the core and RC chips from all the previous drilling, including Tenneco’s, have been lost, and only
incomplete assay results, reports and summaries are known. Based on the data collected by Viscount, and
the selected historic drilling data, Dr. Gilles Arseneau estimated that the Kate deposit contains 2,064,000
tonnes of indicated reserves averaging 84 g/t silver, and an inferred resource of 7,143,900 tonnes
averaging 70 g/t of silver, using a 35 g/t cut-off. The report titled Mineral Resource Estimate for the
Silver Cliff Property, Custer County, Colorado, USA dated April 15, 2018 was prepared by Dr. Gilles
Arseneau, Ph.D., P. Geo of Arseneau Consulting Services (“ACS”) in accordance with the Canadian
Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards incorporated by reference in
National Instrument 43-101 (“NI 43-101”) for its Silver Cliff property in Colorado.
SUMMARY OF VISCOUNT'S DRILLING IN KATE EAST
HOLE ID FROM (M) TO
(M) INTERVAL (M) ASSAY (G/T) INCLUDING
K16-1 18.3 32.0 13.7 924.9 6.1 M @ 1769.5 G/T
K16-3 17.3 34.1 16.8 141.5
K16-4 15.6 36.9 21.3 179.1 7.6 M @ 380.2 G/T
K16-5 19.8 33.5 13.7 388.6 6.1 M @ 757.3 G/T
K16-6 29.0 36.6 7.6 47.3
K16-7 23.5 38.7 15.2 153.2 7.6 M @ 252.8 G/T
K16-8 32.0 52.7 20.7 230.6 6.1 M @ 542.3 G/T
K16-9 25.9 41.1 15.2 136.6
DDH20-01 19.5 41.1 21.6 100.6
DDH20-02 15.5 25.6 10.1 63.9
DDH20-03 15.1 30.0 14.9 702.7 7.6 M @ 1259.1 G/T
DDH20-04 15.6 30.8 15.2 105.1
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The Phase 2 programs, both the geochemical and geophysical surveys and drilling, are aimed at defining
additional silver resources to the East of the existing KSR. We are also planning the additional drilling at
the Passiflora Target, to start investigating the veracity of previous estimates. Phase 3 will be focusing on
the discoveries of phase 2, and also looking towards expanding the Kate Silver Resource to the North.
Mark Abrams, VP of Exploration commented: “As Viscount continues its drill program defining
additional silver targets at the Kate deposit, this will offer the potenti al for increasing the historic silver
resource potentially mineable by open pit. The high silver values from our last drill campaign and the most
recent results continues toward addressing our primary goal which is to expand our current resource by
extending the drill program outside the perimeter of the area encompassed by the Tenneco PEA. We look
forward to reporting further assays from this program as they become available.”
The Company also wishes to announce that pursuant to the Company’s Stock Option Plan it has granted
700,000 stock options at a price of $0. 375 per common share to certain advisors and consultants of the
Company. As per the Company’s Stock Option Plan, the options granted are exercisable until M arch 26,
2026. The Options and underlying common shares are subject to a four -month hold period in accordance
with the policies of the TSX Venture Exchange. Grant of the options is subject to the approval of the TSX
Venture Exchange.
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").
About Viscount Mining (TSX VENTURE: VML) (OTCQB: 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 2,319.48 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 a takeover by another company.
The Cherry Creek exploration property is in an area commonly known as the Cherry Creek Mining District,
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located approximately 50 miles north of the town of Ely, White Pine County, Nevada. Cherry Creek consists
of 293 unpatented and patented claims as well as mill rights and is comprised of more than 2,442 hectares.
Cherry Creek includes more than 20 past producing mines. In January 2021, Viscount entered into 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 m arkets worldwide and is one of the largest Western -based
gold producers in Central Asia.
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: [email protected]
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
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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
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