Viscount, Centerra drill 1,456 g/t silver over 1.5 metres at Cherry Creek, Nevada

Viscount Mining Corp. [VML-TSXV; VLMGF-OTCQX] and its partner, a wholly owned subsidiary of Centerra Gold Inc. [CG-TSX; CGAU-NYSE], have completed the phase 1 core drilling program at the 100%-controlled Cherry Creek project in eastern White Pine County, Nevada. Centerra can acquire a 70% interest in the property through making annual payments totaling US$250,000 over four years and spending US$8,000,000 on mineral exploration.

Centerra’s drilling identified three vertically stacked Carbonate Replacement Deposit (CRD) type features and mineralized zones at the Ti-Cup target. These are large scale brecciation features in the limestone that host high-grade silver veins and lower grade silver mineralization that borders and overlaps the three zones. Base metal values encountered in these zones included lead to 10,001 ppm, zinc to 10,001 ppm, copper to 4,579.8 ppm and tungsten to 101 ppm. These minerals generally occur in narrow veins and replacement zones from 0.75 to 4 meters in thickness.

Drilling revealed several hundred metres of brecciation and anomalous silver mineralization which is approaching economic grades at depth. The surface projection of the breccias and mineralization projects to the northeast and away from the historic producing mine in an area that has not been historically explored. The potential for a high-grade silver bonanza CRD exists at the prospect and in the silver soil anomaly. Grab sample anomalies continue for more than a kilometer to the northeast into the higher terrain.

With these recently identified permissive hydrothermal breccias in the Ti-Cup mine area, all of which overlie an Eocene age intrusive rock thought to be a mineralization driver in the district; the potential for finding silver and base metal CRD deposits is considered very good.
The Ti-Cup was a major silver producer in the Cherry Creek Mining District. The deposits occurred as high-grade lenticular chutes and replacements within the vein and a thrust fault.

The maximum rock sample silver for silver in the Ti-Cup target area was 83.4 oz/t (2,860 g/t), while the maximum silver value in soils was 28.1 g/t. Forty-six rock samples ran greater than or equal 50 g/t silver, with ten rock samples assaying greater than or equal to 500 g/t; while two soil samples ran greater than or equal to 20 ppm silver. The Ti-Cup is clearly a silver dominant target.

Mark Abrams, Viscount VP of Exploration, stated: “The geological setting at Cherry Creek has many similarities to the “Upper and Lower Hilltop Zones” at the Ruby Hill gold mine recently reported on by i80 Gold Corp. in their December 19, 2022 news release. The Ruby Hill mine is located approximately 50 miles west of the Cherry Creek project. There are many other examples of CRD deposits in the region, including those associated with the Bingham Canyon mining complex in Utah. CRD deposits are an important source of silver and base metals in many jurisdictions.”

Exploration activities targeted broader areas that were primarily defined by IP and airborne magnetics, with much less weight put on geochemical influence.
Eleven holes (CC-22-001 through CC-011) totaling 3,283.75 metres of drilling were completed between late April and September by Alford Drilling of Spring Creek, Nevada. Five holes (CC-22-001-CC22-004 and CC-22-010) were drilled on the Star target; Five holes (CC-22-005-CC-22-009) were drilled on the Ti-Cup target; and one hole, CC-22-011, was drilled on the New Century-Rattlesnake target.

All results for the drill program have been received. Key intercepts include the Star Mine gold intercept in CC-22-04; and multiple Ag +/- W key intercepts in Ti-Cup Mine prospect. Overlimit assays for Ag were necessary for certain intervals CC-22-04, CC-22-07 and CC-22-09 that exceeded 90.9 g/t (100 ppm).
Drill hole CC-22-04 returned 7.20 metres of 35.15 g/t silver. CC-22-04 returned 1 metre of 1.966 g/t gold. CC-22-05 returned 1.15 metres of 90.7 g/t silver. CC-22-07 returned 1 metre of 349 g/t silver. CC-22-09 returned 1.5 metres of 1,456 g/t silver and CC-22-09 returned 5 metres of 297 g/t silver.

Initial work planned for 2023 includes follow-up surface work associated with the drilling at Ti-Cup to verify the continuation of potential mineralization in the lower CRD unit; formulate drilling plans and continue permitting for two developing target areas in the southwest portion of the Cherry Creek land position where work earlier in 2022 identified magnetic geophysical, and molybdenum geochemical anomalies. These anomalies are located in areas where the mineralized Black Metal and Exchequer faults pass through the Cherry Creek property and extend IP geophysics and geochemical sampling as well as geological mapping into the recently acquired Mary Anne patented claims located along our southeast border.

The Cherry Creek exploration property is in an area commonly known as the Cherry Creek Mining District, located approximately 50 miles north of the town of Ely, White Pine County, Nevada.

Cherry Creek consists of 578 unpatented and 41 patented claims as well as mill rights. Cherry Creek includes more than 20 past producing mines.