Viscount Mining Corp. [VML-TSXV, VLMGF-OTCQB], on Wednesday January 10, released a second set of assay results from drilling at the Silver Cliff property, located in the Hardscrabble Silver District of Custer County, Colorado.
The aim of the program, which commenced in October 2017, is to verify historical drill results for current mineral resource estimation on one of the Silver Cliff deposits known as the Kate Silver Resource. A second objective is to test the potential for deeper silver mineralization, the company said in a press release on Wednesday.
The press release report assays from two holes – P17004 and DDH P17010, the second and third of 10 holes. These are part of a Phase 2 HQ core drilling program.
Viscount is a project generator, engaged in building a portfolio of high quality exploration properties in the United States. Its portfolio includes the flagship Cherry Creek property in Nevada, which contains over 20 past-producing silver, gold and tungsten mines.
The Silver Cliff project block consists of 96 Lode claims covering most of the historical past producing mineral districts of Silver Cliff and Rosita Hills. The block hosts a number of high grade silver and gold deposits. Between 1967 and 1984, it was an exploration target for a number of high profile U.S. mining companies, including Freeport McMoran Inc. (FCX-NYSE).
The property is thought to overlie a large caldera and porphyry system which increases the prospect’s potential to host a number of precious and base metal deposits, Viscount said.
Drilling on the Kate Silver Resource began in November 2016. The company has said it believes the region containing and immediately surrounding the Kate Silver Resource is materially underexplored. It said the historical resource there could be greatly enhanced in the future with just a few strategically placed drill holes.
“The results of our Phase 2 drilling at Silver Cliff are continuing to show the twinned hole multiple ounce mineralization is greater than what was drilled in the 1980s,” said Viscount Chairman Kaare Foy. “This was also indicated in some of the nine twinned holes drilled in 2016 where five out of nine holes had noticeably thicker silver-rich sections.’’
Highlights from the latest batch of results, included hole P17004, which returned the following values: 90.35 g/t silver (2.83 oz/ton) over 33 metres from 6 – 39 metres, including 95.48 g/t silver over 30.32 metres from 9 – 39 metres and 109.04 g/t silver over 24.01 metres from 15 – 38 metres.
“Viscount believes that last year’s twin drill program, along with the recently completed twin drill program will not only begin to verify the historical tonnage and grade and could also result in a significant increase in overall tonnage,’’ said Dr. Howard Lahti, Viscount’s Vice-President, Exploration.
Viscount shares were unchanged at 37.5 cents on Wednesday and trade in a 52-week range of 73 cents and 21.5 cents.