Viscount Mining TITAN MT Survey Confirms Significantly Large Conductive Anomaly Indicating Likely Porphyry at Silver Cliff, Colorado.
PRESS RELEASE September 22, 2022
Viscount Mining TITAN MT Survey Confirms Significantly Large
Conductive Anomaly Indicating Likely Porphyry
at Silver Cliff, Colorado.
• As verified by Quantec geoscientists, a deposit with this large scale size and this high of
a conductivity (extremely low resistivity) is likely explained by a huge system of
interconnected mineralized fractures.
• The main body of the conductive anomaly starts at a depth of ~450m and continues
another ~1.5km, maybe deeper (this was the extent of the MT survey depth capability).
The length of the anomaly is ~1. 4km in the SW -NE direction with a w idth 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, Canada ( September 22, 2022) – Viscount Mining Corp. (TSX -V: VML) (OTCQX:
VLMGF) (“Viscount” or “the Company”) is pleased to announce our results of our Titan MT survey on
Passiflora in Silver Cliff, Colorado.
During the early summer of 2022, Viscount contracted Quantec Geoscience to perform a five-line TITAN MT
survey over the Silver Cliff caldera of the Passiflora target. Quantec is authorized by the Association of
Professional Geoscientists of Ontario (PGO) and has acquired many reputable clients such as Newmont Mining,
Barrick Gold, Agnico - Eagle Mining, De Beers Consolidated Mines Limited and the Nevada Department of
Energy to name a few. The purpose of the survey was to identify conductive areas below the survey surface
which could represent metal deposits, or perhaps the presence of a porphyry. As shown by Figure 1 below,
each of the five, parallel lines surveyed by Quantec Geoscience were 2.2 kilometers (1.36 miles) in length and
separated by 175 meters (574 feet).
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Figure 1. An aerial image showing locations of the five TITAN MT survey lines positioned over the Silver
Cliff caldera.
Ground-penetrating resistivity data gathered overnight from each of the survey line s was analyzed and
converted by Quantec -employed qualified professionals into cross sections. In their executive summary,
Quantec Geoscience describes their findings, saying: “The TITAN MT survey identified a zone of extremely
low resistivity in the Silver Cliff caldera. The main anomaly is bowl -shaped and at a depth of ~450m (~147 5
ft) at the point nearest to the surface below lines L1E and L2E... The 2D and 3D modeled depth of the anomaly
extends ~1500m (~4920 ft) deep, or to an elevation of ~900m (~2950 ft), but the source could be deeper. The
extreme conductivity of the anomaly and sensitivity of the MT method limit resolution of the inversion result
below the massive conductive zone.”
Figure 2, below, is a cross section of through line L1E which de picts 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.
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Figure 2. A cross section through line L1E showing resistivity (in ohm-m) to a depth of ~2400 meters
(~7975 feet) below the surface.
Jim MacKenzie, Viscount CEO commented, “In response to these extraordinary findings, Viscount is currently
putting together a drill program aimed at determining the composition of the very high conductivity source .
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.”
Quantec also commented on the structure of the anomaly, saying: “there are branches oriented in a roughly E-
W direction that come closer to the surface to ~320m (~1050 ft) depth below lines L4E and L5E in the south-
eastern part of the grid. These branches could be related to fault-controlled mineralization or alteration.” Figure
3 illustrates these branches that extend closer to the surface in an overhead, 3D view of the highly conductive
deposit.
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Figure 3. A view of the 3D model of the large region of low-resistivity (<2 ohm-m) inside the Silver Cliff
caldera.
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, inferring a potential deposit size of
40 million tons of AgEq in the form of silver, gold, lead, and zinc (not NI 43-101 compliant). It is noted in his
report that the deposit was presented as “a set of steep ly 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.
Viscount has drilled a total of six 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.
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Jacob Hooker, Silver Cliff Exploration Manager noted, “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. This caldera is one
of at least ten eruptive centers of the Central Colorado Volcanic Fiel d (CCVF). Four of these ten have been
further classified as silicic eruptive centers, of which the Silver Cliff caldera is one (McIntosh and Chapin,
2004). Another member of this classification is Newmont’s Cripple Creek Mine, a highly profitable, still active
deposit located ~70km NNE of the Passiflora. The ore being mined at Cripple Creek is primarily from diatremes
(volcanic breccia pipes), which overlie sulfide-altered, porphyritic igneous intrusions. A similar system of
diatremes and sulfide-hosting igneous intrusions may also exist at depth in the Passiflora target.”
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) (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 $5.00 USD an ounce
to construct at that time a $35,000,000 USD milling operation for the extraction of the silver reserves at Silver
Cliff. Shortly thereafter Tenneco’s Mining Unit was sold, and the planned milling operation was abandoned.
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: [email protected]
September 22, 2022 - Press release
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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
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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
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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 result s
to be materially different from those anticipated, described, estimated, assessed or intended.
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