Vendetta Reports Metallurgical Test Work and Demonstrates High Lead and Zinc Recoveries and Concentrate Grades from the Pegmont Lead-Zinc Project
FOR IMMEDIATE RELEASE March 5th, 2018
(VTT2018 – NR # 04)
Vendetta Reports Metallurgical Test Work and Demonstrates High
Lead and Zinc Recoveries and Concentrate Grades from the Pegmont
Lead-Zinc Project
Vancouver, BC – March 5th, 2018 Vendetta Mining Corp. (the “Company”) (VTT-TSX:V) is pleased
to announce the completion of the Locked Cycle Flotation metallurgical test work at the Pegmont Lead-
Zinc Project in Queensland, Australia. These results are from drilling in Zones 2, 3 and the connecting
Z Fold.
Highlights:
• Lead Concentrate : 89.7 % to 92.7 % Pb Recovery, 66.3 % to 72.5 % Pb
Concentrate Grade
• Zinc Concentrate : 70.4 % to 75.5 % Zn Recovery, 52.3 % to 54.9 % Zn
Concentrate Grade
• Transition Zone material produced a metallurgical performance equivalent to
the sulphide zones
The results highlight that saleable high quality concentrates can be produced for both lead and
zinc over the zones tested and that the results are very consistent. Transition Zone material
produced a metallurgical performance equivalent to the sulphide zones.
Metallurgical testing of the Pegmont Lead -Zinc Mineral Resource has now included sulphide
mineralisation from Zones 1, 2, 3 and the Bridge Zone plus transition mineralisation from Zone 1. This
complements metallurgical testing of the sulphide mineralisation from the Burke Hinge Zone and Zone
5 lens B and C plus transition mineralisation from Burke Hinge Zone which was conducted at the end
of 2016 (see Vendetta news release March 6th 2017, VTT2017 NR#1).
Composites were produced from quarter and half NQ and HQ diamond drill core taken from between
2 and 5 drill holes per composite. The objective of the current testing was to confirm the grades and
recoveries for both Lead and Zinc concentrates over a broad er spread of the Pegmont Mineral
Resource, the distribution of the metallurgical samples is shown in Figure 1. For Zones 1 , 2 and 3,
within the open pit shell, mining dilution was simulated by taking an additional 0.5 m of core from
either side of the mineralised zone being tested. For the Bridge Zone the dilution interval was increased
to 1.0 m on the hanging wall and 0.5 m on the footwall to reflect the impact of the likely underground
mining method, although considered a conservative approach . Composite grades are shown in Table
1.
The samples were subjected initially to Open Cycle Flotation testing to establish test conditions for the
Locked Cycle Flotation testing , which provides a better estimation of the likely plant performance
under continuous operation with recycling of intermediate grade streams.
The Grade and Recovery performance from the locked cycle flotation testing is shown in Table 1.
Michael Williams, Vendetta’s President and CEO commented “The metallurgical results presented
here continue to demonstrate the value of the open pit potential in Zone 1, 2 and 3, and of the adjacent
Bridge Zone underground target. We are particularly pleased with the performance of the Zone 1
Transition material , with validation of this near surface, low strip m aterial we will look to add
additional Transition tonnes as part of the 2018 program.”
Table 1. Composite Details, Locked Cycle 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 Mineralisation
Zone 1
PVRD104, PVRD109,
PVRD110, PVRD111,
PVRD121
7.92 3.34 91.8 66.3 75.5 54.5
Zone 2
PVRD079, PVRD113,
PVRD122, PVRD127,
PVRD130
7.28 3.23 90.8 67.8 71.3 54.9
Zone 3 PVRD059, PVRD096,
PVRD116, PVRD124 7.42 3.04 89.7 68.2 73.7 54.8
Bridge
Zone
PVRD114, PVRD135,
PVRD146, PVRD147 8.80 2.49 92.7 68.0 70.4 52.3
Transition Mineralisation*
Zone 1 PVRD123, PVRD126 8.82 2.80 91.3 72.5 75.2 53.3
* Transition mineralization is defined as predominately sulphide lead -zinc mineralization in variably weathered rocks , with
high iron oxide mineralogy.
Impurity analyses for the lead and zinc concentrates are not yet available. The head grades of potential
impurity elements are of a similar order as for the composites tested 2016/2017. In the previous round
of testing no significant deleterious elements were identified in the concentrates.
The Pegmont sulphide resource is hosted in quartz, garnet, chlorite and magnetite and the sulphide
minerals are galena, sphalerite and minor pyrite and pyrrhotite. Optical mineralogy has shown that the
majority of the galena and sphalerite are liberated at the primary grind size of p80 passing 106 microns
but that there is a minor proportion of finely associated galena and sphalerite composites. These
composites require regrinding to finer than 20 microns to achieve satisfactory liberation.
The flotation regime chosen for the selective flotation of the lead and zinc concentrates for the Pegmont
composites uses industry standard reagents at usage levels that are typical of many lead -zinc flotation
operations. The circuit tested is also industry typical with a roughing stage followed by regrind of the
rougher concentrates and then two stages of closed cycle cleaning. The regrind used was 15 and 10
kWh/t for the lead and zinc circuits respectively. The circuit used is shown in Figure 2.
The four sulphide zone composites were subjected to Bond Ball Mill W ork Index testing. The results
varied from 18.4 to 20.9 kWh/dry metric tonne. This is consistent with the results from Burke Hinge
Zone and Zone 5 where results ranged from 16.6 to 19.4 kWh/dry metric tonne. This would place the
ore in the medium-hard to hard range.
The tests were performed by ALS Metallurgy in Burnie Tasmania under the supervision of Vendetta’s
consulting metallurgist Mr Geoff Richmond.
Figure 1. Surface Map Showing the location of 2017 Metallurgical Samples
Figure 2. Locked Cycle Flotation Flowsheet for Separate Lead and Zinc Concentrates
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 sil ver 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 Mine ral 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 Directo r 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.
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, 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 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 antic ipated, 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.