Vendetta Reports Additional High Grade Drilling Results from the Recent Bridge Zone Discovery at the Pegmont Lead-Zinc Project
FOR IMMEDIATE RELEASE February 13th, 2018
(VTT2018 – NR # 02)
Vendetta Reports Additional High Grade Drilling Results from the
Recent Bridge Zone Discovery at the Pegmont Lead-Zinc Project
Vancouver, BC – February 13th, 2018 Vendetta Mining Corp. (the “Company”) (VTT-TSX:V) is
pleased to announce results from the Bridge Zone and other drilling from the completed 2017 program
at the Pegmont Lead-Zinc Project in Queensland, Australia.
Bridge Zone Sulphide Highlights:
PVRD132: 6.00 metres of 14.41% Pb+Zn (11.24% Pb, 3.17% Zn);
PVRD135: 6.16 metres of 13.39% Pb+Zn (10.29% Pb, 3.10% Zn);
PMRD016: 4.39 metres of 13.05% Pb+Zn (10.77% Pb, 2.28% Zn);
PVRD146: 9.22 metres of 12.17% Pb+Zn (9.77% Pb, 2.40% Zn); and
PVRD147: 9.98 metres of 10.31% Pb+Zn (7.81% Pb, 2.50% Zn)
A full summary of the sulphide lead -zinc results including estimated true widths are provided in Table
1 and 2 and the location of the holes is shown on the map in Figure 1 and for the Bridge Zone
intersections on the plan in Figure 2. A cross section through the Bridge Zone is shown in Figure 3.
Michael Williams, Vendetta’s President and CEO commented “These additional results from the Bridge
Zone discovery continue to support the high grade continuity of this zone. Potential development of the
Bridge Zone is enhanced by its proximity to the main optimised pit s hell at Pegmont, the closest drill
intersection to date lying only 120 m to the east and 50 m below the pit shell. We look forward to adding
the Bride Zone to the Mineral Resource Estimate which the Company is working to have completed by
the end of March. There remains significant potential to develop the Bridge Zone further, this will form
part of the 2018 drilling program.”
Bridge Zone Underground Target
The Company announced the discovery of the Bridge Zone on September 19th, 2017 (see news release
VTT2017 NR#10). Since then a further ten holes targeting the Bridge Zone mineralization were
completed. Three of these holes were successful re-entries of previous Burke Hing Zone drilling,
extended to intersect the Bridge Zone; two historic holes PMRD016 and 020 (drilled 1996) and one
Vendetta drill hole PVRD028 (drilled 2016).
Hole PVRD146 and 147 were drilled on a section at the south -eastern most section to date, both
intersecting >9 m widths and consistent hig h grades. About 50 m down dip f rom PVRD147, hole
PVRD148 intersected the mineralised horizon but only at 1 m thickness.
PVRD132 was drilled on the previously announced section including holes PVRD106, 107 and 108,
about 33 m down dip of PVRD108, it intersected high grades mineralisation consistent with PVRD108.
PVRD028, drilled at Burke Hinge Zone in 2016, was successfully re-entered and extended to intersect
the mineralised horizon at about 80 m down dip of PVRD132. It found the mineralised horizon had
thinned and grades has also declined.
While on the PVRD028 drill site it was decided to re-enter historic RC hole PMR016 and extend in core
to obtain some closer spaced information at relatively small cost. This hole successfully intersected the
Bridge Zone about 25 m along strike of PVRD108, achieving comparable grades and thicknesses.
PVRD135 was drilled on the previously announced section that included holes PVRD115, 112, 114, 092
and 117, see the updated cross section in Figure 3. PVRD135 intersected high grade mineralisation and
widths about 33 m down dip of PVRD117, which were consistent with PVRD117.
PVRD118, was drilled to test for a possible syncline target where it is theorised the beds return towards
the Burke Hinge Zone. Structural analysis found however that the mineralised horizon changes to dip,
dipping steeply to the south-east, this changes the possible location of the syncline, which remains an
exciting exploration target, see Figure 3.
PVRD129 and PMRD020 tested the north-west end strike extent and failed to intersect the mineralised
horizon, based on detailed structural data and analysis it is now believed that the host beds are folded
downwards and potentially dip below these two holes.
Core from holes PVRD114, 135, 146 and 147 was used to form a metallurgical composite for the Bridge
Zone, the composite weighted 96 kg at an average diluted grade of 8.76% Pb and 2.60% Zn. Test work
is currently ongoing at the ALS Metallurgy laboratory.
The Company plans to continue to expand the Bridge Zone and test the revised structural model for the
syncline targets in 2018.
Zone 5 Underground Target
Three holes; PVRD099, 101A and 103, were drilled at the NE end of Zone 5. All three holes experienced
excessive drill path deviation, PVRD10 1 was abandoned and re -drilled as PVRD101A , which was
completed, but didn’t intersect the design target, hitting the attenuated northern limb of Syncline C.
Hole PVRD099 targeted the keel of Syncline C, the location of previous high grade intersections,
however the hole lifted, intersecting both upper and lower lenses on the southern limb of Sy ncline C.
Hole PVRD103 was drilled in a further attempt to drill the keel of Syncline C, again lifted and failed to
hit its target.
Zone 1 and Burke Hinge Zone Open Pit Targets
PVRD146 was drilled to intersect the Bridge Zone, within the RC pre-collar portion of the hole it also
intersected Burke Hinge Zone mineralization in the lower lens.
Two holes were drilled in Zone 1, both intersected the fold structure at the planned depths but at a
location where it has been attenuated.
Results from the final 24 holes of the 2017 resource development drilling program, drilled in Zones 2
and 3, are currently being validated and interpreted, these results will be released as they are finalized.
Table 1. Summary of Bridge Zone and Zone 5 Underground Targets Assay Results
Bore
Hole
Dip / Azimuth
From
(m) To (m)
Interval (m)
True Thickness*
(m)
Grade#
Pb+Zn
%
Pb
%
Zn
%
Ag
g/t
Bridge Zone – Sulphide
PVRD129 -69/203 No Significant Result
PMRD020 -58/204 No Significant Result
PVRD118 -64/030 339.34 343.00 3.66 1.2 2.92 1.14 1.78 9
PVRD135 -76/024 226.63 233.79 7.16 5.6 11.67 8.95 2.72 14
including 227.63 233.79 6.16 4.8 13.39 10.29 3.10 16
PMRD016 -59/206 285.90 291.29 5.39 5.2 11.15 9.23 1.91 22
including 285.90 290.29 4.39 4.2 13.05 10.77 2.28 26
PVRD132 237.52 245.36 7.84 7.3 11.31 8.82 2.48 15
including 237.52 243.52 6.00 5.4 14.41 11.24 3.17 18
PVRD028 -78/207 280.17 283.43 3.26 3.0 5.95 2.84 3.11 6
including 281.17 283.43 2.26 2.1 7.79 3.53 4.26 6
PVRD146 -53/207 290.00 299.22 9.22 7.2 12.17 9.77 2.40 14
and 308.08 310.02 1.94 1.9 3.94 1.89 2.06 8
PVRD147 -63/2004 284.75 292.73 9.98 9.4 10.31 7.81 2.50 10
including 285.75 292.73 6.98 6.5 13.93 10.57 3.36 12
PVRD148 -77/210 No Significant Result
Zone 5 – Sulphide
PVRD099 -79/143 237.86 243.63 5.77 5.3 8.66 6.31 2.35 12
and 338.10 340.64 2.54 2.3 13.09 7.26 5.83 7
PVRD101A -80/318 No Significant Result
PVRD103 -73/158 No Significant Result
*True thickness is estimated using structural measurements and three dimensional geological
modelling.
#Drill intersections are summarized intersection lengths >2.0 m, 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.
Figure 1. Surface Map Showing 2017 Mineral Resource Block Model Contours, Pit Shell and
Location of Current Results and 2017 Completed Holes
Figure 2. Bridge Zone Mineralised Host Intersection Plan
Figure 3. Cross Section through Bridge Zone
Table 2. Summary of Zone 1 and Burke Hinge Zone Open Pit Target 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
Zones 1 – Sulphide
PVRD144 -61/142 No Significant Result
PVRD145 -76/145 No Significant Result
Burke Hinge Zone – Sulphide
PVRD146^ -53/207 95 100 5 5 75.9 5.33 2.80 2.53 5
Including 95 99 4 4 75.9 6.40 3.34 3.06 7
*True thickness is estimated using structural measurements and three dimensional geological modelling.
#Drill intersections are summarized intersection lengths >2.0 m, 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.
^Intersection from RC pre-collar portion.
Notes on Drilling and Assay QA/QC
The drilling discussed in this release involved drilling RC pre -collars using a 5.75 inch diameter face
sampling bit to depth prior to cas ing and continuing the hole in N Q2 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 metallurgical test
work it is then halved again. This is performed to provide sufficient sample for metallurgical test work
while retaining a permanent core record.
The PVRD146 Burke Hinge Zone intersection was drilled using 5.25 inch reverse circulation (RC), face
sampling hammer. Samples bec ame wet due to wet season rain and as such were subsampled using a
spear rather than normal riffle split. Duplicate samples indicate the spear sampling was unbiased.
Field duplicate samples of core 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.
Samples used for the results described herein were prepared and analyzed 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 are located using handheld GPS, and the collars have since 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 true thickness
noted are 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 granted 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 several worl d-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 details please see
Vendetta’s news release, VTT2017-NR#6, June 27th, 2017 and the NI 43-101 technical report “Pegmont
Resource Update June 2017” available on SEDAR.
The Company expect to complete an updated NI 43-101 technical report in Q1, 2018.
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 the advanced
stage Pegmont Lead Zinc project in Queensland, Australia. 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, Australia. Forward -looking statements include statements that are
predictive in nature, are reliant on future events or conditions, or includ e words such as “expects”,
“anticipates”, “plans”, “believes”, “considers”, “significant”, “intends”, “targets”, “estimates”,
“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 uncertainties 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 in this news release, further results from the 2017 drilling program, the accuracy of
exploration results, the accuracy of Mineral Reso urce 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 31st, 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 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.