2015-08-05 06:24 ET - News Release
Viscount completes Cherry Creek soil sampling program
Mr. Jim MacKenzie reports
VISCOUNT MINING PHASE 2 EXPLORATION UPDATE ON THE CHERRY CREEK PROPERTY, NEVADA
Viscount Mining Corp. is providing an update on the recently completed phase 2 soil sampling program (463 samples), as well as on the geologic mapping and rock chip sampling programs on its Cherry Creek property, which is currently being explored by Summit Mining Exploration II Inc., a wholly owned U.S. subsidiary of Sumitomo Corp., under an exploration earn-in agreement.
Phase 2 soil sampling program
The phase 2 soil survey was concluded and results for silver included in the May-June activity report issued by Rangefront Geological, the firm contracted by Summit to conduct Cherry Creek exploration. It states that "1,663 soil samples have been collected, 1,498 samples in 2015 and 165 in 2014." Analysis has been by a 51-element-plus-gold-ICP (inductively coupled plasma) procedure (ME-MS41 and Au-TL43) at ALS Labs Ltd. of Elko, Nev. The sample grid spacing is 75 metres by 75 metres. The phase 2 sampling program extended the soil grid to the west, and covers the historic Doctor's Cut, Fillmore, Ticup and Geneva mines. Preliminary review of the phase 2 sample results in the Exchequer fault, Geneva, Ticup and Fillmore mine areas shows widespread anomalous silver values over the Swasey limestone, Wheeler shale and Marjum-Weeks limestone formations.
Phase 2 geologic mapping and rock chip sampling
Contract geologists Dr. Jamie Robinson and Will Ostrenga continued geological mapping and report having "covered the majority of the high-priority Swasey-Wheeler formations along and north of the Exchequer fault, extending from the Fillmore mine in the west to the Star-Gray Eagle mines, and northeast to the Exchequer-New Century mines." In addition, a reconnaissance transect northeast along the Swasey-Wheeler contact to the Black Metals fault was completed. Rock chip samples were collected while geologic mapping was being conducted.
To date, 578 rock chip samples have been collected and submitted for assay and analysis. The samples are being analyzed by a 49-element-plus-gold-AA (atomic absorption) procedure (ME-MS61 and AuAA-23). Results for these samples are pending. The following points concerning geology in the mapped area are excerpts from the Summit activity report for May to June, 2015:
Mapping shows that the formations on and along the Exchequer fault are highly dissected, and rotated by secondary and tertiary faults associated with the principle Exchequer fault. It is not a simple linear fault as depicted on earlier geologic maps. Previous mapping does not show the true extent of the faulting; almost all of these wedge boundaries and contacts of the Swasey limestone and Wheeler shale in the central mapped area are fault contacts. Faulting and fracturing of these reactive rocks are critical for the formation of mineral deposits, as the fractures act as conduits for mineralizing fluids.
Mapping the northeast transect along the Swasey-Wheeler contact to the Black Metals fault indicates widespread alteration and mineralization continue along trend, and are often associated with east-west- and northwest-trending fault zones.
Viscount anticipates the work on drill targeting will start later this month, once all of the final assay data are received and map data formatted in the drill computer model. Approximately 8,000 feet of reverse circulation drilling of 10 to 12 holes are expected to begin in mid-September, 2015.
Viscount Mining is very pleased with the exploration work on the property, and the results obtained by Summit Mining Exploration and Rangefront Geological Services.
The scientific and technical information contained in this news release has been reviewed by Dallas W. Davis, PEng, FEC, an independent consulting geologist who is a qualified person as such term is defined under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.
About Sumitomo Corp.
Sumitomo Corp. is one of the largest integrated trading and investment companies in Japan. Sumitomo Corp., a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financings, serves as an organizer and a co-ordinator for various projects, and invests in businesses from the information industry to the retailing industry. Summit Mining Exploration Inc. is a wholly owned subsidiary of Sumitomo Corp. and is headquartered in Colorado, United States.
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