VANCOUVER, BC / ACCESSWIRE / March 31, 2014 / Viscount Mining Corp. (TSX VENTURE: VML) (“Viscount” or “the Company”), a mineral resource development company with a portfolio of past producing silver mines and exploration properties on its wholly-owned land in Nevada, is pleased to announce it has located a detailed geological report identifying previously unknown facts regarding its wholly-owned lands in Nevada.
The report which is not 43-101 compliant authored in 1985, was written by Michael Tignoni and titled,” Ticup-Fillmore and Star Mines, Cherry Creek Mining District, White Pine County Nevada for Ticup Mining Corporation headed by Fred Anderson.” The report provides previously unknown historical information of the potential of these strategic veins owned by Viscount Mining within the Cherry Creek project area.
“The following salient points have been extracted from the report and clearly demonstrate that a very great potential has come to light, positioning the project with additional large tonnages of silver and gold reserves,” states Dr. Howard Lahti, VP of Exploration at Viscount Mining Corp.
- A total of 46 samples were taken by Tognoni with 20 assaying more than 5 oz./t silver, 12 samples with more than 20 oz./t silver, 5 samples greater than 40 oz./t silver, and 3 samples with greater than 150 oz./t silver. The highest sample 239.68 oz./t silver.
- The Exchequer Vein extends from Pine Nut Canyon west of the Ticup and goes past the Ticup Mine from a total length of 3.5 miles and has the same azimuth as other prolific ore producers in Eastern Nevada. The Fillmore Vein extends past the Chance Mine for a length of 2.5miles up to the Black Metal Fault. The intersection of these two veins near the Fillmore and Ticup Mines make this an extremely attractive target.
- The silver mineralization in the Fillmore and Ticup Veins occurs in lens shaped chutes with the Ticup Mine occurring in one that according to historical records produced more than 3,000,000 ounces with some grades exceeding 3500 oz. /t silver by 1913. Tognoni states that there is a very good potential of finding more rich silver ore shoots in these two veins.
- The best example of the bedding replacement at the Ticup Mine is on the Fillmore Vein. The vein intersects the Exchequer Vein at Jacobsen Cut and extends for 2.5 miles to the Chase Mine and on to the Black Metal Fault.
The Cherry Creek Mining District is located in White Pine County approximately 90km north of Ely, NV. The district has a long history of gold, silver and tungsten production from high-grade vein and replacement deposits
“This report could presage a game-changing opportunity for the Company,” comments Jim MacKenzie CEO of Viscount Mining Corp. He continues to state, “The report documents significant reserve potential that clearly validates the need to commit additional resources to this location. A drill program becomes a very high priority and could prove out the intrinsic commercial value of this extraordinary data.”
Technical aspects of this news release have been reviewed and approved by Dr. Howard Lahti, a qualified person within the meaning of National Instrument 43-101.
About Viscount Mining (TSX-V: VML)
Viscount Mining is a development company with a portfolio of exploration properties in Nevada comprising of 2,700 acres (the majority of the claims are patented claims), all 100% owned including more than 20 past producing silver and gold mines. For additional information regarding the above noted property and other corporate information, please visit the company’s website at www.viscountmining.com
ON BEHALF OF THE BOARD OF DIRECTORS
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to the potential additional silver discovery at the Ticup Mine. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which management believes to be reasonable but which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration and production, (3) a decreased demand for minerals, (4) any number of events or causes which may delay or cease exploration and development of the Company’s property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labor problems; (5) the risk that the Company does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements
SOURCE: Viscount Mining Corp.