Great First Results Point to Confirming the Historical Resource
SmallCapPower | December 28, 2016: Earlier last week Viscount Mining Corporation (TSXV:VML)(OTCQB:VLMGF) released the first results from the drill program it commenced mid-November on its Silver Cliff Property in Colorado, U.S.A, and the results are very positive for Viscount future outlook. Over a 15.24-meter (50-ft) section, the core tested had an average concentration of 837.4g/t (26.92oz/t) Ag, with a 6.1-meter (20-ft) section within the larger intersection boasting a whopping 1,778.5 g/t (57.2oz/t) Ag.
This drill program, which is being used to confirm the historical resource at the Kate Silver Resource deposit from the 1980’s, is a good start and very encouraging for the miner. Probably the most encouraging is that the mineralized zone sampled is located within 32m (105-ft) of the surface. This creates the opportunity for Viscount to mine via an open-pit, which is significantly less capital intensive than an underground and can be put into operation much sooner.
In addition, the team believes that the deposit is relatively flat with only a slight down dip which will further increase the economics as there will be less overburden to be removed to access the mineral. This flat deposit also opens up the possibility to extend it laterally beyond the historical PEA limits. Based on the historic PEA, Viscount management is looking to define a 40-50mm ounce Ag deposit, and if the results continue to bear fruit such as this, that goal will be met.
As the entire 457.8m (1,502-ft) program consisting of nine holes has been completed, expect the assay results from the remaining 8 holes to be released as the lab work finishes, which will continue to affect the stock price positivity if similar results are released. Today alone, Viscounts stock jumped 15% to $0.70/ share in early day trading, before settling down closing at $0.65/share for a solid 6.5% gain on the day.
About Viscount Mining Corporation
Viscount Mining Corporation is a mineral exploration company building a portfolio of high quality properties in mining friendly jurisdictions in the United States. It currently has two properties under exploration, its flagship property Cherry Creek, Nevada and Sliver Cliff, Colorado. Its shares trade on the Toronto Venture Exchange and the Over The Counter Markets under the symbols VML, and VLMGF respectively.
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