Cherry Creek and Silver Cliff’s potential is just starting to be realized
SmallCapPower | June 10, 2016: Most gold and silver-related equities have performed well so far in 2016, yet there’s still a few good projects that haven’t received the kind of attention that is likely deserved. Up until recently this could have applied to Viscount Mining Corp. (CVE:VML), yet the sentiment seems to be quietly changing.
Nevada has a history of big gold discoveries, so it’s not surprising that juniors such as Gold Standard Ventures Corp. (CVE:GSV) and Rye Patch Gold Corp. (CVE:RPM) have seen its stock price soar. Viscount Mining, meanwhile, owns more than 10,000 acres and 20 past producing mines as part of its Cherry Creek property in Nevada, and has Japan’s Sumitomo Corporation helping develop the project in return for a 75% interest.
Viscount CEO Jim MacKenzie, in an exclusive interview with SmallCapPower, talked about the recent move in the Company’s stock.
“We’ve been very active in getting out and telling our story. People are excited about Nevada and (our relationship with) Sumitomo, and the fact that they will be drilling this summer,” he said.
Mr. MacKenzie also mentioned that in addition to the planned drilling at Cherry Creek, Viscount will also begin drilling its 100%-owned Silver Cliff property in Colorado. Thus, he expects a lot of news will be coming from the Company in 2016, such as sampling programs that are associated with the drilling.
“We hoping to have a compliant resource on the Silver Cliff property by the end of the year,” he added.
Hecla Mining and Tenneco Minerals took the Silver Cliff property to the pre-feasibility study phase in the 1980s and determined that there was 50 million ounces of silver (non-NI 43-101 compliant) on the property. Although Viscount Mining isn’t able to use that historical information, it intends to prove out that 50 million ounces, and the Company believes that figure could be “considerably” higher.
Viscount Mining Corp. currently has 35.2 million shares outstanding.
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