Vendetta Reports Additional High Grade Drilling Results from Zones 2 and 3 at Pegmont Lead-Zinc Project
FOR IMMEDIATE RELEASE August 24th, 2017
(VTT2017 – NR # 9)
Vendetta Reports Additional High Grade Drilling Results from Zones 2
and 3 at Pegmont Lead-Zinc Project
Vancouver, BC – August 24th, 201 7 Vendetta Mining Corp. (the “Company”) (VTT-TSX:V) is
pleased to announce further drill results from the 2017 program at the Pegmont Lead-Zinc Project in
Queensland, Australia.
This initial part of the program has been executed in Zone 3 and is now being extended to Zone 2. The
goal is to expand and upgrade the Mineral Resource near the base of the open pit shell used to constrain
the June 2017 Mineral Resource and to locate additional mineralization within the pit shell (see news
release, VTT2017-NR #6) but outside of the resource estimation search parameters.
Zones 2 Highlights:
PVRD067: 8.4 metres of 11.30% Pb+Zn (8.05% Pb, 3.24% Zn);
PVRD074: 6.2 metres of 14.64% Pb+Zn (11.43% Pb, 3.21% Zn); and
PVRD079: 9.1 metres of 11.06% Pb+Zn (7.45% Pb, 3.61% Zn)
Zones 3 Highlights:
PVRD069: 6.2 metres of 9.72% Pb+Zn (6.44 Pb, 3.29% Zn); and
PVRD072: 4.6 metres of 11.32% Pb+Zn (8.20% Pb, 3.12% Zn);
A full summary of the sulphide lead-zinc results including estimated true widths are provided in Table
1 and the location of the holes is shown on the map in Figure 1.
Michael Williams, Vendetta’s President and CEO commented “These results coupled with the
previously announced Zone 3 assays give us reason to be encouraged by the consistently higher grades
being intersected in the current program. We will continue to focus on the areas within the pit the shell
that have the greatest potential to increase both tonnes and grade while also targeting potential expansion
of the resource in areas that may later fall inside an optimized pit shell. We are continuing to develop
the underground target in Zone 5 and are commencing testing conceptual exploration targets near the
Burke Hinge Zone.”
Zones 2 and 3 Results
Zone 2 is a flat to moderately dipping area, located bet ween 50 and 100 m from surface, with a strike
length of 2 km. Holes PVRD067 and 068 are drilled from that same pad, the high grade intersection in
PVRD069 is located in a flat dipping portion of Zone 2. Hole PVRD068 was drilled to test a modelled
low grade zone in Zone 2 immediately prior to the “Z” fold, and confirmed the zone is a site of structural
attenuation (stretching and thinning) separating the high grade open folds in Zone 2 and the “Z” fold.
PVRD073, 074, 079 and 075 are drilled from one pad into Zone 2. Hole 073 was drilled into the
attenuated fold limb at the base o f Zone 1, while the high grade intersections in holes PVRD074, 079
and 075 are located in a moderately dipping open fold structure to the north -east of the “Z’ fold.
PVRD074 will be used for metallurgical test work.
Zone 3 is located about 50 to 100 m below Zone 2, it is flat to moderately dipping, separated from Zone
2 by a drag fold called the “Z fold”. It has a modelled strike of 1.2 km.
Holes PVRD069, 071 and 072 are drilled from the same pad, the high grade intersections in the
moderately dipping Zone 3 are spaced about 20 m apart and are in the same structural position as the
previously reported high grade intersections in holes PVRD065, 066 and 063 (see VTT NR #5), located
40-50 m to the NE. Hole PVRD077 was probing the down dip extent of the high grade structure
intersected in aforementioned holes, it intersected the host lithology but lacked mineralization.
Table 1. Summary of Open Pit Target Zone 2 and 3 Drill Assay Results.
Bore
Hole
Dip / Azimuth
From
(m) To (m)
Vertical Depth
Below Surface (m)
Interval (m)
True Thickness*
(m)
Grade#
Pb+Zn
%
Pb
%
Zn
%
Ag
g/t
Zone 2
PVRD067 -52/316 108.07 116.50 91.4 8.43 6.9 11.30 8.05 3.24 13
Including 108.07 115.51 90.6 7.44 6.1 12.64 9.09 3.56 15
PVRD068 -86/330 No Significant Result
PVRD073 -51/324 129.30 130.55 99.0 1.25 1.0 3.82 1.06 2.76 6
PVRD074 -89/305 113.70 119.87 119.8 6.17 5.8 14.64 11.43 3.21 21
PVRD075 -81/114 106.83 114.55 112.5 7.72 7.6 9.16 6.52 2.64 11
Including 106.83 112.55 110.5 5.72 5.6 11.82 8.43 3.39 14
PVRD079 -85/325 114.56 123.62 122.6 9.06 8.9 11.06 7.45 3.61 8
Including 115.56 121.62 120.1 6.06 5.9 14.08 10.01 4.07 10
Zone 3
PVRD069 -80/153 186.68 192.93 185.1 6.25 6.1 9.72 6.44 3.29 9
Including 186.68 190.93 183.2 4.24 4.1 13.35 8.70 4.64 11
PVRD071 -71/142 188.10 194.95 181.6 6.85 6.8 9.20 6.17 3.03 9
Including 188.10 192.95 180.3 4.85 4.8 12.35 8.23 4.13 11
PVRD072 -65/136 189.09 193.72 174.5 4.63 4.5 11.32 8.20 3.12 16
PVRD077 -62/135 No Significant Result
*True thickness is estimated using structural measurements and three dimensional geological modeling.
#Drill intersections are summarized using a combined 1% lead and zinc grade with maximum 1 m internal
dilution.
Ongoing Drilling
To date the a total of 52 drill holes have been completed for a total of 13,322 m in Zones 1, 2, 3 and 5.
Processing, logging and sampling of the core not discussed in this release is ongoing. The Company will
release results as they become available.
Drilling continues with two drills, one drill is working in Zone 1 and the other has commenced the
exploration program testing conceptual targets near the Burke Hinge Zone.
Figure 1. Surface Map Showing 2017 Mineral Resource Block Model Contours, Pit Shell and
Location of Current Results and 2017 Completed Holes
Notes on Zone 3 Drilling and Assay QA/QC
The drilling at Zone 2 and 3 involved drilling RC pre-collars using a 5.75 inch diameter face sampling
bit to depth prior to casing and continuing the hole in NQ2 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.
Diamond core samples were taken on nominal 1 m lengths, with a diamond saw being used to half core
and then quarter the core. Quarter core samples a re dispatched for analysis, so as 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 analyzed 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 will be surveyed by a licensed surveyor
prior to undertaking an update of the mineral resource estimate. Down hole surveys were undertaken
using a true north seeking gyroscope with stations nominally every 6 m.
All NQ2 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 two exploration permits that cover an area of
approximately 3,468 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.
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, Australia. Forward -looking statements include statements that are
predictive in nature, are reliant on future event s or conditions, or include 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 201 7 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 nine months ended, February 29th, 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.