Viscount Mining’s US gold and silver assets offer huge potential upside

November 29, 2019

Proactive Investors
by: Angela Harmantas

  • Project generator with exploration-stage projects with historical workings
  • Proven properties located in the mining-friendly jurisdictions of Colorado and Nevada
  • Debt-free, cash on hand and experienced management team at the helm

What Viscount Mining does:

Viscount Mining Corp (CVE:VML) (OTCMKTS:VLMGF) is rapidly building a strong portfolio of mineral assets in mining-friendly jurisdictions in the United States.

The Vancouver-based explorer is a project generator, which is essentially a junior company acquiring early-stage exploration properties to advance to a point where it becomes attractive to a larger company.

Viscount’s particular modus operandi is to identify projects with advanced exploration, underground development or past production. It then enters into partnerships for further development and exploration.

The current crown jewel in Viscount’s current portfolio is the Silver Cliff property in Colorado, located 44 miles southwest of Pueblo Colorado with year-round access to the project via a paved road.

Silver Cliff consists of 96 claims on nearly 2,100 acres of land where high-grade silver, gold and base metal production occurred in the late 19th century. Geologically speaking, the property is thought to lie on a large mineral system that increases the prospect’s potential to host a number of precious and base metal deposits.

What’s particularly attractive about Silver Cliff are the grades. Historically, grades have run as high as 2,125 grams per ton (g/t) silver over 13.4 metres, which is equivalent to 68 ounces per ton.

Adding even more upside to Viscount’s portfolio is its flagship Cherry Creek project in Nevada, near the well-known mining town of Ely. The Cherry Creek claims currently consist of over 400 unpatented and patented claims as well as mill rights.

Numerous exploration and mining activities were conducted in the past at Cherry Creek up to 1964. Activities were primarily focused on silver and gold as well as base metals and tungsten.

Today, Cherry Creek is located on the same trend as major gold projects that are home to big-name neighbours such as Kinross Gold, Newmont Goldcorp and Agnico Eagle.

With drill results in hand in a highly prolific, proven mining region, Viscount Mining is poised for discovery in the United States.

How is it doing:

Viscount recently updated shareholders about its future plans at the two properties, armed with a new study that documented abundant hydrothermal mineralization to help it understand the geology and geochemistry of the area.

Earlier in the year, the company told investors that reconnaissance drilling at its Cherry Creek property in Nevada had achieved its aims.

The objective of the work was to test the Star Vein and the Exchequer Vein systems for continuity at depth.

One hole established that the South Star Vein extends much deeper than previously known from a review of existing underground mapping. Further, the vein possibly widens at depth, although more drilling is required to confirm this, the company said at the time.

Another hole successfully tested the upper level of the lesser-known North Star Vein and established that gold and silver mineralization was present within 132 m (434 ft) of the surface, even though the vein has not been mapped on the surface.

Additionally, both holes, CC045 and CC046 appear to have identified quartz vein stockwork alteration which Viscount plans to investigate further.

Stockworks are a common feature in many mineral deposits and mines worldwide.

Highlight intercepts in CC045 included 3.26 g/t (grams per ton) gold (0.10 oz/ton) and 36 g/t silver (1.15 oz/ton) over 1.52 m (meters).

Inflection points:

  • Continue drilling to add to the resource estimate of the KSR deposit and evaluate the resource potential on three other areas of historic mining at Silver Cliff
  • Possible partnerships with other mining companies to advance Silver Cliff and Cherry Creek

What the CEO says:

“After much uncertainty in the junior resource sector we believe we are well-positioned with two strong properties located in the United States,” Viscount’s CEO Jim Mackenzie said recently.

“Viscount is very encouraged by the potential at Cherry Creek, Nevada, with 20 past-producing mines and at Silver Cliff, Colorado, where we have an open-pit discovery which we expect to expand with future drill programs."

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