Vendetta Continues to Intersect High Grade Lead-Zinc from Zone 2 Open Pit Target, Pegmont Lead-Zinc Project
FOR IMMEDIATE RELEASE November 15th, 2017
(VTT2017 – NR # 13)
Vendetta Continues to Intersect High Grade Lead-Zinc from Zone 2
Open Pit Target, Pegmont Lead-Zinc Project
Vancouver, BC – November 15th, 2017 Vendetta Mining Corp. (the “Company”) (VTT -TSX:V) is
pleased to announce further results from Zones 2 and 5 at the Pegmont Lead-Zinc Project in Queensland,
Australia.
Zones 2 Highlights:
PVRD102: 9.20 metres of 11.51% Pb+Zn (7.87% Pb, 3.28% Zn);
PVRD113: 8.25 metres of 10.73% Pb+Zn (7.99% Pb, 2.74% Zn);
PVRD121: 7.90 metres of 13.00% Pb+Zn (9.92% Pb, 3.08% Zn); and
PVRD127: 5.50 metres of 10.48% Pb+Zn (7.35% Pb, 3.13 Zn)
Zones 5 Highlights:
PVRD086: 8.90 metres of 9.79% Pb+Zn (6.16% Pb, 3.62% Zn)
A full summary of the sulphide lead-zinc results including estimated true widths are provided in Table
1 and 2, the location of the holes is shown on the map in Figure 1.
Michael Williams, Vendetta’s President and CEO commented “ The Company is very pleased that the
resource development drilling continues to yield high grade results, these coupled with the previously
released results build a solid basis for updating the mineral resource estimate which the Company is
planning to complete in Q1 2018.”
Zone 2
This drilling continues a series of sections which were released previously, see Vendetta news release
VTT2016 NR #9, August 24, 2017. Drilling in Zone 2 occurred on six sections, with a final strike spacing
of nominally 50 m. For drill hole locations please see Figure 1.
Drill hole PVRD102 was drilled on a section which included previously released holes PVRD073, 074,
075 and 079. It was located to test for the presence of a previously unidentified fold whose presence was
inferred from the structural analysis of the completed holes . It successfully intersected high grade
mineralisation and confirmed the presence of a fold structure.
Drill holes PVRD093 and 095 were dril led from the same pad towards the north -west. PVRD095
intersected both the geology and mineralisation as anticipated. PVRD093 didn’t intersect the host
lithology, subsequent structural analysis suggests the hole ended prematurely, it will likely be extended
in the future.
Holes PVRD121 and 122 were drilled from the same pad towards the north-west, these holes intersected
the host banded iron stone slightly shallower than predicted in the geological model. The holes
successfully intersected high grade mineralisation outside of the current resource model.
PVRD113 single hole drilled on the edge of modelled high grade intersected both the geology and
mineralisation as anticipated.
The next section comprises three holes; PVRD136, 137 and 138, which are yet to be logged.
PVRD127 interested high grade mineralisation 10 m deeper than expected, in an area in the resource
model which is modelled as having lower than intersected grades.
The south-western most section drilled in Zone 2 includes four holes; PVRD130, 131, 133 and 134. To
date only PVRD130 has been logged and assayed, returning a high grade intersection about 15 m deeper
than expected and preliminary interpretation suggests is an unknown fold structure.
Table 1. Summary of Open Pit Target Zone 2 Sulphide Assay Results.
Bore
Hole
Dip / Azimuth
From
(m) To (m)
Interval (m)
True Thickness*
(m)
Vertical Depth
Below Surface (m)
Grade#
Pb+Zn
%
Pb
%
Zn
%
Ag
g/t
PVRD102 -62/323 83.00 92.20 9.20 6.5 74.4 11.15 7.87 3.28 16
PVRD095 -71/295 107.05 115.08 8.03 8.0 101.6 7.44 4.13 3.32 21
including 109.05 114.08 5.03 5.0 103.5 11.37 6.42 4.96 33
PVRD093 No Significant Result
PVRD113 -76/321 98.12 106.37 8.25 7.6 94.1 10.73 7.99 2.74 13
including 98.12 104.37 6.25 5.8 94.1 13.16 9.73 3.44 14
PVRD121 -51/318 103.98 111.88 7.90 5.9 81.9 13.00 9.92 3.08 13
PVRD122 -65/320 103.63 109.13 5.50 5.5 93.5 13.54 9.76 3.78 14
PVRD127 -88/177 75.50 81.00 5.50 5.3 75.1 10.48 7.35 3.13 9
including 75.50 80.00 4.50 4.4 75.1 12.56 8.93 3.63 10
PVRD130 -68/318 84.56 92.39 7.83 6.8 78.6 8.66 6.04 2.62 7
including 84.56 90.39 5.83 4.2 78.6 10.81 7.50 3.31 8
*True thickness is estimated using structural measurements and three dimensional geological modelling.
#Drill intersections are summarized intersection lengths >2.0m, using a combined 1% lead and zinc grade
with maximum 1 m internal dilution. Included intervals are at a combined 3% lead and zinc grade with no
internal dilution.
Zone 5
Drill hole PVRD086 was drilled at the north-east end of Zone 5, approximately 500 m along strike from
the previously released results , see Vendetta news release VTT2017 NR #12 , November 7, 2017, and
shows that within Zone 5 there is metal zonation, with zinc grade increasing towards the south-west.
Drill Hole PVRD088 attempted to drill along strike from PVRD086 but the drill path didn’t follow the
expected course and the hole intersected the attenuated north limb of Syncline C. Th e same target was
attempted again with PVRD089 which in turn also didn’t follow the expected path and was subsequently
abandoned.
Table 3. Summary of Zone 5 Assay Results Underground Target.
Bore
Hole
Dip /
Azimuth
Lens
From (m) To (m)
Interval (m)
True
Thickness* (m)
Grade#
Pb+Zn
%
Pb
%
Zn
%
Ag
g/t
PVRD086 -77/187 333.57 342.47 8.90 8.7 9.79 6.16 3.62 8
including 334.59 339.47 4.88 4.6 13.48 9.60 3.88 13
PVRD088 -82/191 No Significant Result
PVRD089 -86/180 Abandoned - No Significant Result
*True thickness is estimated using structural measurements and three dimensional geological modelling.
#Drill intersections are summarized intersection lengths >2.0m, using a combined 1% lead and zinc grade
with maximum 1 m internal dilution. Included intervals are at a combined 5% lead and zinc grade with no
internal dilution.
Copper-Gold Target Exploration
At the copper-gold target two exploration holes have been completed from one drill pad. The first hole,
PVRD149 intersected minor veining including a quartz vein (3 cm) with boxwork (suggesting the
presence of leached sulphide) and a ~5 cm silica + chalcopyrite + pyrite vein. A 20 m zone of low tenor
chalcopyrite infilling fractures was present. PVRD150, drilled beneath PVRD149, failed to intersect any
visible chalcopyrite. The Company believes that there has been insufficient sulphide mineralization
intersected to explain the TEM conductor anomaly. A third drill hole, PVRD151, has commenced,
located 300 m to the SW of PVRD149.
Update on Pegmont Resource Development Drilling
To date, a total of 95 drill holes have been completed during the 2017 program, for a total of 20,058 m.
Including completed drill holes discussed in this release, the Company has announced the results from
56 drill holes, see also Company news releases dated July 25th 2017 (VTT2017 NR #7), August 24th
2017 (VTT2017 NR #9), September 19th 2017 (VTT2017 NR #10) and November 7th 2017 (VTT2017
NR#12).
Processing, logging, sampling and assaying of the core not released to date is ongoing. Results will be
released as they become available. Drilling is scheduled to be concluded on or about the December 15th,
prior to the arrival of the wet season in North West Queensland.
Figure 1. Surface Map Showing 2017 Mineral Resource Block Model Contours, Pit Shell,
Location of Current Results and 2017 Completed Holes.
Metallurgical Sampling
Metallurgical sampling of Zones 1 and 2 sulphide material has been completed and the two composites
dispatched to the ALS Metallurgy laboratory in Tasmania.
A total of five holes formed the sulphide composite for Zone 2: PVRD079, 113, 122, 127 and 130,
covering approximately 500 m of strike length. The composite included dilution through the addition of
0.5 m of sub 3% Pb+Zn material on both the hangingwall and footwall to reflect potential mining
performance, the composite has a length weighted average grade of 7.59% Pb and 3.02 % Zn, a grade
considered to be representative of the Company’s 2016 and 2017 drilling in Zone 2, as summarized
below, from north-east to south-west, at a 3% Pb+Zn cut off:
PVRD036^: 7.54 m of 6.14% Pb+Zn (3.56% Pb, 2.57% Zn)
PVRD053^: 9.49 m of 9.84 % Pb+Zn (6.83% Pb, 3.01% Zn)
PVRD067#: 7.44 m of 12.64% Pb+Zn (9.09% Pb, 3.56% Zn)
PVRD074#: 6.17 m of 14.64% Pb+Zn (11.43% Pb, 3.21% Zn)
PVRD075#: 5.72 m of 11.82% Pb+Zn (8.43% Pb + 3.30% Zn)
PVRD079#: 8.06 m of 11.57% Pb+Zn (8.36% Pb, 3.22% Zn)
PVRD102*: 9.20 m of 11.51% Pb+Zn (7.87% Pb, 3.28% Zn)
PVRD095*: 5.03 m of 11.37% Pb+Zn (6.42% Pb, 4.96% Zn)
PVRD113*: 6.25 m of 13.16% Pb+Zn (9.73% Pb, 3.44% Zn)
PVRD121*: 7.90 m of 13.00% Pb+Zn (9.92% Pb, 3.08% Zn)
PVRD122*: 5.50 m of 13.54% Pb+Zn (9.76% Pb, 3.78% Zn)
PVRD047>: 8.30 m of 12.27% Pb+Zn (7.21% Pb, 5.06% Zn)
PVRD127*: 4.50 m of 12.56% Pb+Zn (8.93% Pb, 3.63% Zn)
PVRD130*: 5.83 m of 10.81 % Pb+Zn (7.50% Pb, 3.31% Zn)
Please refer to the following for full details:
^ VTT2016 NR #9, November 30, 2016,
> VTT2016 NR #6, September 21, 2016
# VTT2016 NR #9, August 24, 2017,
* This Release
Geology and assay results from Zone 1 sulphide and transition material are being interpreted and will
be released shortly.
Resignation and Appointment of New CFO
Cale Moodie has resigned from the position of Chief Financial Officer effective November 15, 2017, to
devote more time to his other ventures. Vendetta has appointed Jasmine Lau as Chief Financial Officer.
Michael Williams commented, “We would like to thank Mr Moodie for his efforts and contributions to
Vendetta since the IPO in 2010 and subsequent acquitting of the Pegmont project, and we wish him
every success is his future endeavors. I would also like to welcome Ms Lau as CFO.”
Ms Lau is a member of the Institute of Chartered Accountants of British Columbia and has focused her
career in the resource and pharmaceutical industries. Ms Lau has served as CFO and financial controller
of several public exploration companies with projects throughout the world. In addition to her experience
working with junior resource companies, Ms Lau worked at Teck Resources Ltd as a Sarbanes-Oxley
Auditor. Prior to Teck Resources Ltd., Ms Lau worked for Deloitte & Touche LLP’s Vancouver
Assurance & Advisory group where she focused on audits of public mining and resource companies.
Jasmine earned a Bachelor of Commerce from the University of British Columbia.
Mr Moodie will assist Ms Lau to ensure a smooth transition.
Notes on Zone 2 Drilling and Assay QA/QC
The drilling at Zones 2 and 5 involved drilling RC pre-collars using a 5.75 inch diameter face sampling
bit to depth prior to casing and continuing the hole in either NQ2 or HQ2 diamond core. Diamond core
samples were taken on nominal 1 m lengths but varied to match geological contacts. Samples of the core
are obtained using a diamond saw to half cut the core, if the hole is to be included in metallurgic al test
work one half of the core is then halved again. This is performed to provide sufficient sample for
metallurgical test work while retaining a permanent core record.
Field duplicate samples were taken and blanks and commercially prepared certified reference materials
(standards) were added into the sample sequence for every hole submitted. These were analysed by the
Company and no issues were noted with analytical accuracy or precision. Field duplicates are not used
in holes selected for metallurgical test work to ensure the complete intersection is available for
metallurgical test work.
Samples used for the results described herein were prepared and analysed at ALS Laboratory Group in
Townsville, Queensland. Analysis was undertaken using a four acid digest and ICP (ALS method: ME-
ICP61 for 7 elements) with over limit (>10,000 ppm lead and zinc and >100 ppm silver) high grade
samples being read with an atomic absorption spectrometer (AAS), (ALS methods: Pb-OG62, Zn-OG62
and Ag-OG62).
Drill hole collars of holes discussed in this release have been surveyed by a licensed surveyor. Down
hole surveys were undertaken using a true north seeking gyroscope with stations nominally every 6 m.
All diamond core is orientated using digital core orientation systems, this data is incorporated into the
3D interpretations. Assay intervals shown in Table 1 are down hole intervals, and the estimated true
thickness noted is based on 3D interpretations of the host lithology, structure, and mineralization.
About The Pegmont Lead Zinc Project
Pegmont is a stratiform, Broken Hill-Type deposit that outcrops with an overall shallow dip to the south
east and is hosted in a magnetite-rich banded iron formation within high grade metamorphic rocks. The
project consists of three grant ed mining leases and one exploration permit that cover an area of
approximately 8,290 ha.
Pegmont is situated in the Mount Isa – McArthur Mineral Province, which hosts one of the world’s
richest endowments of lead -zinc-silver mineralization, including seve ral world -class lead -zinc-silver
mines.
Pegmont is located 25 km west of South 32’s Cannington silver-lead-zinc operation, one of the world’s
largest producers of lead and silver and 28 km north of Chinova Resources’ Osborne copper -gold
operations. Pegmont is proximal to existing infrastructure including public roads, mine haul roads,
rail, and a natural gas pipe line for power generation.
In June 2017 Vendetta updated the Mineral Resource estimate for Pegmont, for full details please see
Vendetta’s news release, VTT2017-NR#6, June 27th, 2017.
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 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 Vendetta, 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.
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, Austral ia. 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 previous and current results from the 2017 drilling
program mentioned i n 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 completion 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 three months ended August 31, 2017.
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 anticip ated, 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.