Metallurgical Test Work Yields Excellent Recoveries and Concentrate Grades at Pegmont Lead – Zinc Project
FOR IMMEDIATE RELEASE March 6th, 2017
(VTT2017 – NR # 1)
Metallurgical Test Work Yields Excellent Recoveries and Concentrate
Grades at Pegmont Lead – Zinc Project
Vancouver, BC – March 6th, 2017 Vendetta Mining Corp. (the “Company”) (VTT-TSX:V) is
pleased to announce the initial metallurgical test work on the Pegmont Lead -Zinc project from the
Burke Hinge Zone open pit target (BHZ) and the high zinc grade Zone 5 underground target.
Using industry standard test work the initial flotation tests produce d separate lead and zinc
concentrates using bench scale batch (open cycle) flotation. Tests wer e performed by ALS
Metallurgy, in Burnie Tasmania, under the supervision of Vendetta’s consulting metallurgist Mr. Geoff
Richmond.
Three composites from sulphide mineralization at BHZ, and Zone 5 Lens B and C were processed. A
fourth test was performed on transition mineralization at BHZ. In all cases, separate marketable lead
and zinc concentrates were produced.
Table 1. Composite Details, Overall Recoveries and Concentrate Grades.
Area
Composite
Bore Holes
Included in
Composite
Composite
Head Grades
(diluted)
Lead Circuit Zinc Circuit
Pb % Zn% Pb Recovery
%
Concentrate Pb
Grade %
Zn Recovery
%
Concentrate
Zn Grade %
Sulphide Mineralization
BHZ
PVRD023, 024,
026, 027, 041,
042, 043, 044 &
045
5.02 3.03 91.5 70.6 61.8 50.7
Zone 5,
Lens B
PVRD013, 030,
032, 33, 34 & 37 5.61 4.74 88.5 68.0 75.6 50.1
Zone 5,
Lens C
PVRD030, 033 &
037 4.30 5.48 83.0 66.1 76.7 50.3
Transition Mineralization*
BHZ PVRD023 3.19 2.90 80.6 57.0 19.3 48.9
* Transition mineralization is defined as predominately sulphide lead-zinc mineralization in variably weathered rocks, with
high iron oxide mineralogy.
Key Points:
BHZ and Zone 5 c omposites were selected such that they are representative of the lead-zinc
mineralization intersected during Vendetta’s 2016 drilling program.
Sulphide composites were prepared using quarter core HQ. BHZ transition sample was prepared
using half core HQ.
All sulphide composites included barren hangingwall and footwa ll country rock to simulate
mining dilution. The BHZ transition test did not include dilution.
Pre-concentration method investigated included magnetic separation and heavy media
separation. These were performed on the BHZ sulphide and Zone 5 Lens B composites, results
indicate that no meaningful advantage can be gained from pre-concentration.
All composites were ground to P80 passing 105 μm.
Each composite was subject to a series of developmental batch flotation tests, including a
roughing only test and either two or three cleaning tests with rougher concentrate regrind (P80
passing 15 to 27 μm)
BHZ Transition test was performed on an intersection f rom one drill hole only and is not
considered representative. Zinc recove ries in the zinc concentrate of the BHZ Transition were
hampered by locking of sphalerite in galena and gangue minerals, this is reflected in the
relatively high recovery of zinc (22.3%) to the lead concentrate. While transition mineralization
represents a relatively small proportion of the mineralization at the BHZ open pit target flotation
optimization work is ongoing.
Bond Ball Mill Work Index comminution test work, was performed on the BHZ Sulphide and
Zone 5 Lens B composites, returning16.6 kWh/t and 19.4 kWh/t respectively, placing them in
the medium to medium hard range.
There remains scope to further optimize the flotation results. It is generally accepted that locked
cycle flotation will result in higher recoveries more comparable to commercially operated
flotation plant, compared to batch flotation.
Further details about these test s will be made available on the Companies web page and
Corporate Presentation.
Michael Williams, Vendetta’s President and CEO commented “These initial metallurgical results are a
significant technical milestone. The results demonstrate a classic grade recovery profile , producing
marketable lead and zinc concentrates in all cases. This allows the Company to continue planning the
2017 resource development program with confidence as we further de-risk the Project”.
About The Pegmont Lead Zinc Project
The Pegmont lead-zinc-silver deposit is located in North West Queensland Mineral Province, 175 km
south-east of the major mining center of Mount Isa, 25 km west o f South32’s world class Cannington
silver-lead-zinc operation and 28 km north of Chinova Resources’ Osborne and Kulthor copper -gold
operations. It is proximate to infrastructure including roads, rail, and natural gas for power generation.
Pegmont is a mul tiple lens, stratiform Broken Hill style deposit that outcrops with an overall shallow
dip to the south east and is hosted in a magnetite rich, banded iron formation within high metamorphic
grade rocks. The project consists of three granted mining leases and two exploration permits that cover
an area of approximately 3,468 ha.
Since the F ebruary 2014 NI 43 -101 Mineral Resource Estimate on Zones 1 to 4 there has been over
13,500 m of drilling, primarily in the Zone 5 underground target and the Burke Hinge Z one open pit
target. Highlights of the Companies drill results from Burke Hinge Zone and Zone 5 are presented in
Table 2 below, the Company plans to update the resource estimate in the near future.
Table 2. Selected Highlights of the 2014 – 2016 Burke Hinge Zone and Zone 5 Drilling^
Bore
Hole
Dip /
Azimuth
From
(m)
To
(m)
Interval
(m)
True
Thickness*
(m)
Grade
Pb+Zn
%
Pb
%
Zn
%
Ag
g/t
Burke Hinge Zone – Open Pit Target
PVR018 -60/205 81.0 87.0 6.0 5.4 7.30 4.90 2.41 7.0
PVR019 -60/205 62.0 69.0 7.0 6.7 11.52 7.79 3.72 12.4
PVR021 -60/205 57.0 70.0 13.0 13.0 7.34 4.29 3.04 6.6
and 81.0 87.0 6.0 6.0 10.11 6.98 3.13 12.5
PVRD023 -60/205 40.64 46.64 6.00 6.0 9.48 6.08 3.40 17.8
PVRD026 -60/025 69.65 75.65 6.00 3.7 10.41 5.94 4.47 10.4
PVRD027 -60/205 34.16 37.16 3.00 3.0 11.48 7.55 3.93 27.9
PVRD041 -60/205 31.0 36.0 5.0 4.9 9.15 5.99 3.16 9.1
PVRD042 -60/205 42.5 46.45 4.00 3.9 16.83 12.28 4.55 19.9
Zone 5 – Underground Target
PVRD030 -68/330 290.85 299.15 8.30 7.9 10.73 5.82 4.91 6.8
and 317.25 323.00 5.75 4.8 11.01 5.85 5.16 9.0
PVRD032 -70/350 253.28 260.28 7.00 6.2 9.55 6.40 3.15 8.0
PVRD033 -70/350 276.63 281.63 5.00 4.6 9.72 5.77 3.95 8.0
PVRD037 -88/240 297.38 303.38 6.00 5.5 9.72 4.53 5.19 6.2
PMR283 -90 276.0 285.0 9.0 9.0 13.23 6.35 6.88 7.7
PVRD052A -51/138 215.63 230.40 14.77 6.8 11.91 5.46 6.45 5.56
PVRD017 -56/153 260.60 265.16 4.56 4.2 15.60 5.45 10.15 6.1
^Note: For full details about the above drill results please see the Company’s previous news
releases dated the 7th September 2016, 21st September 2016 and 30th November 2016.
About Vendetta Mining Corp.
Vendetta Mining Corp. is a Canadian junior exploration company engaged in acquiring, exploring, and
developing mineral properties with an emphasis on lead and zinc. It is currently focused on advanced
stage exploration projects in Australia, the first of w hich is the recently optioned Pegmont Lead Zinc
project. Additional information on the Company can be found at www.vendettaminingcorp.com
Qualified Person
Peter Voulgaris, MAusIMM, MAIG, a Director of Vende tta, is a non-independent qualified person as
defined by NI 43 -101. Mr. Voulgaris has reviewed the technical content of this press release, and
consents to the information provided in the form and context in which it appears.
Geoff Richmond FAusIMM, a Consulting Metallurgist to Vendetta, is a qualified person as defined by
NI 43-101. Mr Richmond has reviewed the metallurgical technical content of this press release, and
consents to the information provided in the form and context in which it appears.
ON BEHALF OF THE BOARD OF DIRECTORS
“Michael Williams”
Michael Williams
President & CEO
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Certain statements within this news release, other than statements of historical fact relating to Vendetta
Mining Corp., are to be considered forward -looking statements with respect to the Company’s intentions
for its Pegmont project in Queensland, Australia. Forward-looking statements include statements that are
predictive in nature, are reliant on future events or conditions, or include words such as “expects”,
“anticipates”, “plans”, “believes”, “considers”, “significant”, “intends”, “targets”, “estimate s”,
“seeks”, attempts”, “assumes”, and other similar expressions.
The forward-looking statements are based on a number of assumptions which, while considered reasonable
by Vendetta Mining Corp., are, by their nature, subject to inherent risks and uncertai nties and are not
guarantees of future performance. Factors that could cause actual results to differ materially from those in
forward-looking statements include: the interpretation of current results from the 2016 drilling program
mentioned in this news release, further results from the 2017 drilling program, the accuracy of exploration
results, the accuracy of Mineral Resource Estimates, the anticipated results of future exploration, the
forgoing ability to finance further exploration, delays in the compl etion of exploration, delays in the
completion of the updated Mineral Resource Estimate, the future prices of lead, zinc, and other metals, and
general economic, market and/or business conditions. There can be no assurances that such statements and
assumptions will prove accurate and, therefore, readers of this news release are advised to rely on their
own evaluation of the information contained within. In addition to the assumptions herein, these
assumptions include the assumptions described in Vendetta Mining Corp.’s Management’s Discussion and
Analysis for the periods ended November 30th, 2016 and 2015.
Although Vendetta Mining Corp. has attempted to identify important risks, uncertainties and other factors
that could cause actual performance, achievements, actions, events, results or conditions to differ materially
from those expressed in or implied by the forward-looking statements, there may be other risks, uncertainties
and other factors that cause future performance to differ from what is anticipated , estimated or intended.
Unless otherwise indicated, forward -looking statements contained herein are as of the date hereof and
Vendetta Mining Corp. does not assume any obligation to update any forward-looking statements after the
date on which such statements were made, except as required by applicable law.