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PRESS RELEASE June 23, 2016
Viscount Mining Closes Final Tranche of Oversubscribed $2.3 Million Private Placement
VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or the “Company”) is pleased to announce that it has closed the second and final tranche of the Brokered Private Placement led by Gravitas Securities Inc. ("GRAVITAS") and previously announced in its news release of April 25, 2016, (the "Private Placement") raising gross proceeds, with the first tranche which closed on May 31, 2016, of $2,300,000 from the issuance and sale of 4,600,000 Units at a price of $0.50 per Unit.
Each Unit consists of one (1) common share ("Common Share") of the Company and one (1) share purchase warrant ("Warrant"). No new insiders were created, nor any change of control occurred, as a result of this Private Placement.
Each Warrant will entitle the holder to acquire one (1) Common Share at an exercise price of $0.70 for a period of 24 months from the closing date of the Private Placement. In the event that the Company's common shares trade at a closing price on the Exchange of greater than $0.85 per share for a period of 20 consecutive trading days at any time after the closing date, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date hereafter referred to as the ("Eligible Acceleration Date") on which such notice is given by the Company.
These Common Shares and Warrants issued under the second tranche of the Private Placement will be subject to a four month and one day resale restriction expiring October 24, 2016.
GRAVITAS acted as agent for and on behalf of Viscount and is entitled to an Agency Fee of 7% of the cash received from the sale of the Units to certain subscribers, and Compensation Warrants equal to 7% of the aggregate number of Units issued to certain subscribers, exercisable into Common Shares at an exercise price of $0.70 until June 23, 2018.
The Company intends to use the net proceeds of the Private Placement for the advancement of the Company's 100%-owned Silver Cliff property in Colorado and for general working capital. Viscount plans to use a cost- effective exploration program with surface sampling, detailed geologic mapping, geophysics, geochemistry, and drilling for the confirmation of the historical geological work and resource estimation, to substantiate the value of Silver Cliff. The Company will also be evaluating new project opportunities as part of its prospect generator business model.
Kaare Foy, Chairman commented, "We are very pleased with the wide level of support investors have in Viscount and the Private Placement. As a result of the successful closing of the second tranche, we have the funding required to advance and expedite the exploration of Silver Cliff. This financing is a major milestone for Viscount as it continues to build shareholder value and advance its flagship assets with both Cherry Creek and Silver Cliff."
About Gravitas Securities Inc.
Gravitas Securities Inc. ("GRAVITAS"), known for sophisticated sector expertise, tactical individuals with a commitment to excellence, global integration and innovation, is a leading independent, internationally owned and operated wealth management and capital markets firm. GRAVITAS provides a wide range of investment mandates and services for retail, institutional and corporate clients globally from offices in Toronto, Vancouver, Calgary and is represented in the United States through its FINRA representative, Gravitas Capital International, in New York and San Francisco.
About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF)
Viscount Mining Corp. is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 10,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a bankable feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
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
“Jim MacKenzie”
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Interesting history KJ. Reposted what you sent here to share when others show up to read up like we are.
Take care man.
This absolutely is another fractionalized land play happening right smack in Nevada's Au Ag mining sweet spot. Could be a similar playbook to TSX/NYSE GSV Gold Standard Resources further along. Here there's significant patented land consolidated into one big parcel starting with the 1st key 2600 acres that has 20 former producing mines in it. GSV did not have that not even close. that is important.
NYSE/TSX GSV Gold Standard Resources didn't start with 20 former producers on the Railroad Property but were smack where you want to be in Nevada. This is too. GSV has what 200 M shs out presently at $2.24 per share? VLMGF/VML is starting out with approx 56 M fully diluted trading here now in the $0.60 -$0.65 USD per share range.
5 families owned it all as far back as the 1850's and because they weren't good neighbors, total Hadfield McCoy story, many mining co's couldn't get a deal don until now. Rumors to be confirmed yet are that over the years Agnico Eagle, Newmont, Sumitomo and others gave it a shot and failed where Viscount closed the deal. How do Canadian mining Execs. work their magic like they do?
Jay Taylor – TAYLOR HARD MONEY ADVISORS, Sumitomo……made it known to Viscount in the fall of 2015 that the Flint Canyon area of Cherry Creek exhibits alteration and mineralization characteristic of Carlin-type gold deposits, and has made “Flint Canyon is a very high priority target area” in 2016. Outside of Flint Canyon, on February 4, 2016, Viscount Mining reported what it called “large intervals of silver mineralization,” which included 27.5 metres of 52.0 grams per tonne (g/t) silver.
Future upside for this Company could come from its Silver Cliff Project in Colorado, which lies within a silver district where numerous mines produced high-grade silver during 1878 to 1894, and between 1967 and 1984, more than 350 holes were drilled on the property. Thus, Viscount seems to be positioning itself smartly as a prospect generator and should be one to watch if the precious metals market continues to improve. For more insight on Viscount Mining see Jay Taylor’s commentary here >>
Good to learn about Nevada’s Mining Sector check out https://en.wikipedia.org/wiki/Gold_mining_in_Nevada
and
https://explorationinsights.com/MediaLib/Downloads/Home/Geologic_Overview_of_Carlin_Deposits_2002.pdf
Posted on Small Cap Power
Viscount Mining (TSXV: VML): Why it Could Be Nevada’s Next Talked About Precious Metals Story
March 21, 2016 Sean Mason SmallCapPower: To paraphrase an old mining adage, if want to find a big discovery go to where other big discoveries have been found. If it’s gold and silver you’re looking for, then, Nevada would be a great place to start.
Nevada mines about 80% of all the gold produced in United States. Much of that gold comes from the Carlin trend in the northern part of the state. But there’s another Nevada trend, Pequop, that’s smaller but could still be lucrative for those companies exploring and drilling there.
About one third of Newmont Mining’s (NYSE: NEM) global gold production comes from Nevada, and the gold giant thinks so highly of Pequop’s potential that it stepped up with a $2 billion plus purchase of Fronteer Gold’s Long Canyon Project there back in 2011.
While there’s been some buzz building about Gold Standard Ventures Corp. (TSXV: GSV), with its large land holding on the Carlin Trend, following investments from both Goldcorp and OceanaGold (See more insight here), Viscount Mining Corp. (TSXV: VML) could also attract investor attention in the coming months given that its Cherry Creek property on the Pequop trend is comprised of more than 9,000 acres and includes more than 20 past producing mines.
Thanks to an exploration earn-in agreement with Sumitomo Corporation, .... the Japanese integrated trading and investment company can earn in up to a 75% interest in Cherry Creek by producing a feasibility study as well as spending a minimum of US$10 million in exploration and development expenses .......
By entering into this agreement, Viscount Mining has managed to keep its issued and outstanding shares at a relatively modest 35.2 million, yet is able to continue to explore and drill the property, thanks to Sumitomo. Summit Mining Exploration, Sumitomo’s wholly-owned subsidiary, made it known to Viscount in the fall of 2015 that the Flint Canyon area of Cherry Creek exhibits alteration and mineralization characteristic of Carlin-type gold deposits, and has made
“Flint Canyon is a very high priority target area” in 2016......
Future upside for this Company could come from its Silver Cliff Project in Colorado, which lies within a silver district where numerous mines produced high-grade silver during 1878 to 1894, and between 1967 and 1984, more than 350 holes were drilled on the property. Thus, Viscount seems to be positioning itself smartly as a prospect generator and should be one to watch if the precious metals market continues to improve.....
http://smallcappower.com/top-stories/jay-taylor-puts-buy-recommendation-on-viscount-mining-corp-tsxv-vml-stock/
Fascinating that SUMITOMO would be so interested in the opportunity with Viscount ! They must have done LOTS of Due Diligence...
Whoa Sumitomo Corp https://en.wikipedia.org/wiki/Sumitomo_Corporation
https://en.wikipedia.org/wiki/Sumitomo_Group
SMFG Sumitomo Mitsui Financial Group, Inc. 6.02 Stock Foreign Regional Banks NYQ
SSUMY Sumitomo Corporation 9.85 Stock PNK
SMTOY Sumitomo Electric Industries Ltd. 13.60 Stock PNK
SSUMF Sumitomo Corporation 9.80 Stock PNK
SMFNF Sumitomo Mitsui Financial Group, Inc. 28.85 Stock PNK
NISTF NIPPON STEEL & SUMITOMO METAL CORPORATION 19.14 Stock PNK
CMTDF Sumitomo Mitsui Trust Holdings, Inc. 3.30 Stock PNK
SUTNY Sumitomo Mitsui Trust Holdings, Inc. 3.33 Stock PNK
SOMMY Sumitomo Chemical Co. Ltd. 22.29 Stock PNK
SOHVF Sumitomo Heavy Industries, Ltd. 4.59 Stock PNK
SMTOF Sumitomo Electric Industries Ltd. 13.44 Stock PNK
SMMYY Sumitomo Metal Mining Co., Ltd. 9.86 Stock PNK
SMFRF SUMITOMO FORESTRY CO 13.75 Stock PNK
SMCKF Sumitomo Mitsui Construction Co. Ltd 1.05 Stock PNK
NSSMY NIPPON STEEL & SUMITOMO METAL CORPORATION 18.92 Stock PNK
DNPUY Sumitomo Dainippon Pharma Co., Ltd. 43.50 Stock PNK
SSM1.F SUMITOMO HEAVY IND 3.95 Stock Diversified Machinery FRA
MIU.F SUMITOMO MITSUI T H 3.00 Stock Money Center Banks FRA
SU2.DU SUMITOMO OSAKA 3.28 Stock General Building Materials DUS
SMM.F SUMITOMO CHEM 3.94 Stock Chemicals - Major Diversified FRA
Sumitomo Group
Sumitomo Rubber Industries
Sumitomo Chemical
Sumitomo Corporation
Sumitomo Metal Industries
Sumitomo Mitsui Banking n
Sumitomo Electric Industries
Business Summary
Sumitomo Metal Mining Co., Ltd., together with its subsidiaries, engages in mining, smelting and refining, semiconductor and advanced materials manufacturing, and other businesses in Japan and internationally.
The company operates through three segments: Mineral Resources, Smelting & Refining, and Materials. The Mineral Resources segment is involved in the exploration, development, production, and sale of non-ferrous metal resources, such as copper, nickel, gold, and zinc/lead.
The Smelting & Refining segment smelts, refines, and sells copper, nickel, ferro-nickel, zinc, and lead; and precious metals, such as gold, silver, and platinum.
The Materials segment manufactures, processes, and sells semiconductor materials, including lead frames; and tape materials, such as copper-clad polyimide film and chip-on-film substrates, as well as advanced materials, such as pastes, powder materials, battery materials, and crystalline materials.
This segment also offers automotive exhaust processing catalysts, chemical catalysts, petroleum refinery and desulfurization catalysts, and autoclaved lightweight concrete products; construction materials; and surface treatment of metal products. The company also engages in the technical engineering and real estate business.
The company was formerly known as Seika Kogyo (Mining) Co., Ltd. and changed its name to Sumitomo Metal Mining Co., Ltd. in June 1952. Sumitomo Metal Mining Co., Ltd. was founded in 1590 and is headquartered in Tokyo, Japan.
The Resource Maven - Gwen Preston:
“ Sumitomo’s quest for gold via Viscount’s Cherry Creek”
Cut and paste bit.ly/1Vk1MuD into your browser or go to https://www.streetwisereports.com/pub/na/sumitomos-quest-for-more-gold-could-start-with-viscount-mining#.VvBcT4XGpi8.email
Note that while there’s been some buzz building about Gold Standard Ventures Corp. (TSXV: GSV), with its large land holding on the Carlin Trend, following investments from both Goldcorp and OceanaGold (See more insight here), Viscount Mining Corp. (TSXV: VML) could also attract investor attention in the coming months given that its Cherry Creek property on the Pequop trend is comprised of more than 9,000 acres and includes more than 20 past producing mines.
About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 9,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
About Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator 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 Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp
Struthers Report V22 # 10.2 Short Barometer, Gold CNL ZON, VML AAN
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Recent Interviews
Ron Struthers: The Juniors Are Forging the Path Forward
Is the bear market in mining equities finally over? It looks that way, says Ron Struthers, publisher and editor of Struthers' Resource Stock Report. In this interview with The Gold Report, Struthers explains what distinguishes this recovery from past ones: TSX Venture Exchange stocks, not the majors, are leading the way. But which juniors should investors favor? Struthers names several with proven management, ample funding and good share structures.
Ron Struthers: Are Gold Equities on the Cusp of an Upswing?
It is like a carrot on a stick for small-cap mining investors: the promise that we have finally hit bottom and prices will rise again for gold and mining stocks. That time is almost here, according to Ron Struthers, the publisher and editor of Struthers' Resource Stock Report. In this interview with The Gold Report, Struthers discusses how a run on bullion banks has played with the gold price and which indicator is telling him things are about to move. If Struthers' forecast is right, the gold market could be on the cusp of one of its best corrections yet.
Recent Quotes
"VML stock responded well to drill results from Cherry Creek showing moderate to high-grade silver mineralization."
— Ron Struthers, Struthers Resource Stock Report (2/5/16)
more >
"VML was one of the best performers on my selection list."
— Ron Struthers, Struthers Resource Stock Report (1/4/16)
more >
"VML is one mining stock that is kicking bear butt."
— Ron Struthers, Struthers Resource Stock Report (11/2/15)
Viscount Mining Corp.
http://www.viscountmining.com/
Viscount Mining is a project generator building a portfolio of high quality exploration properties in friendly mining jurisdictions in the United States. CHERRY ...
June 22nd, 2016 6:20 am PST Approx.
Viscount Announces BLM Approval for Drill Pads and New Road Construction at Flint Canyon, Cherry Creek, NV - Marketwired
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 22, 2016) - Viscount Mining Corp. (TSX VENTURE:VML)(VLMGF) ("Viscount" or "the Company"), is pleased to announce the Company has now received approval at Flint Canyon for new drill hole pad locations, sumps, and road construction under a Notice of Intent ("NOI") submitted to the Nevada Bureau of Land Management ("BLM") earlier this spring. With this approval Viscount will have a 7,046 ft. new road, with Phase 1 of the 2016 RC drill program which will consist of approximately 18 holes for 4,380m (14,366 feet) starting at Flint Canyon scheduled for early August.
About Flint Canyon
The 2015 mapping at Flint Canyon found the area to be much more complexly faulted than previously indicated on the Adair 1961 geologic base map. Summit's mapping program found that east-west orientated faults and fractures, which are important ore controlling structures at the Ticup and Star Mines, also occur in the area. The Flint Canyon area contains highly dissected fault blocks of the Dunderberg Shale with the underlying Marjum Limestone and overlying Notch Peak Limestone. The Pogonip Formation overlies the Notch Peak and both units are important host rocks for Carlin-type gold mineralization in east-central Nevada.
Jasperoid occurrences in Nevada are extremely significant in context to Carlin-type gold deposits and mineralized jasperoid outcrops are common throughout the Flint Canyon area. They occur principally along the base of the Dunderberg Shale but other outcrops are found along Pogonip-Notch Peak contact. Many major gold discoveries have been made based on the presence of outcropping, weakly mineralized jasperoid hosted in and along bedding contacts of carbonate rocks. At Flint Canyon, jasperoid is found in the same carbonate rocks that are prolific host rocks at nearby large gold deposits (Newmont Mining-Long Canyon).
The jasperoid beds, interpreted as west dipping tabular features, occur along the base of the Dunderberg Shale and within the Pogonip group limestone. Summit's geological team indicated that the Dunderberg Shale is generally recessive and is exposed mainly along the outcropping contacts with more competent rocks. The Dunderberg appears to be moderately altered throughout its distribution, and at Flint Canyon it experienced widespread and significant alteration by hydrothermal fluids. The underlying Marjum Limestone is usually competent and unaltered, while the overlying Pogonip exhibits variable alteration.
Jim MacKenzie, Viscount President and CEO stated: "We are very excited that phase 1 of this year's drill program is starting at the Flint Canyon area which exhibits alteration and mineralization characteristic of Carlin-type gold deposits."
Qualified Persons
The exploration and drill programs are being managed by David Tretbar, Summit Exploration's Executive Vice President, Exploration and Mineral Resources, a Qualified Person as defined by NI 43-101. Mr. Tretbar is a registered Professional Geologist in Arizona (# 48036) and a Certified Professional Geologist (CPG # 11086) with the American Institute of Professional Geologists.
Mark J. Abrams, M.Sc., P.G., R.G., C.P.G., an independent consulting geologist who is a "Qualified Person" reviewed, prepared and supervised the preparation or approval of the scientific and technical content in the news release as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43- 101").
About Viscount Mining (TSX VENTURE:VML) (VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 9,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com.
About Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator 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 Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp.
ON BEHALF OF THE BOARD OF DIRECTORS
Jim MacKenzie, President, CEO and Director
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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Contact:
Viscount Investor Relations
604-960-0535
info@viscountmining.com
June 2, 2016 9:12 AM
Viscount Adds Mine Engineer to Technical Advisory Board - Marketwired
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 2, 2016) - Viscount Mining Corp. (TSX VENTURE:VML)(VLMGF) ("Viscount" or the "Company") is pleased to announce that engineer and mining executive Ian R. Harris has consented to join the Company's technical advisory board.
"Viscount is extremely pleased to have an engineer with the experience and abilities of Mr. Harris join its Technical Advisory Board," said Jim MacKenzie, President & CEO of Viscount. "Ian will be an excellent source of advice as the Company advances its Silver Cliff property. We welcome Mr. Harris and look forward to his valued contribution as the newest member of our team."
Mr. Harris is a bilingual mining engineer with over 20 years of experience in the mining industry including 10+ years working in South America with companies such as Asarco LLC, Corriente Resources, AEP and Washington Group International. Mr. Harris has spent the last two years as CEO of AMAK Mining, the first operating private mining company in the Kingdom of Saudi Arabia.
Mr. Harris has managed all phases of the mining cycle, in diverse areas including general management, project development, project management, field operations, engineering, financing, and operations supervision and optimization. He has demonstrated the ability to achieve results in difficult environments, such as the Middle East, Venezuela, Ecuador and Bolivia.
Mr. Harris successfully led a campaign to reactivate Corriente Resources mining operations in Ecuador after a three-year suspension by successfully navigating through a new constitution, and a new mining law. Under his leadership Corriente's mining projects were designated national strategic projects and the first to start and finalize contract negotiation for construction of the first industrial scale mining projects in Ecuador. His achievements led to the sale of Corriente to Tongling Nonferrous Metals Group Holding Co., Ltd. for $690M.
Mr. Harris stated, "I am very pleased to join the Company's advisory board. I am excited to be assisting in the continued advancement of the Company's activities in Nevada and the Silver Cliff property in Colorado."
More About Viscount Mining (TSX VENTURE:VML)(VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 10,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a bankable feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
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
Jim MacKenzie, President, CEO and Director
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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Contact:
Viscount Investor Relations
604-960-0535
info@viscountmining.com
www.viscountmining.com
May 31, 2016 5:12 PM
Viscount Private Placement Update - Marketwired
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - Viscount Mining Corp. (TSX VENTURE:VML)(OTCQB:VLMGF) ("Viscount" or the "Company") is pleased to announce that it has closed today the first tranche of the Brokered Private Placement previously announced in its news release of April 25, 2016, (the "Private Placement") raising gross proceeds of $1,225,000 from the issuance and sale of 2,450,000 Units at a price of $0.50 per share. Each Unit consists of one (1) common share ("Common Share") of the Company and one (1) share purchase warrant ("Warrant").
Each Warrant will entitle the holder to acquire one (1) Common Share at an exercise price of $0.70 for a period of 24 months from the closing date of the Private Placement. In the event that the Company's common shares trade at a closing price on the Exchange of greater than $0.85 per share for a period of 20 consecutive trading days at any time after the closing date, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date hereafter referred to as the ("Eligible Acceleration Date") on which such notice is given by the Company.
These Common Shares and Warrants issued under the Private Placement will be subject to a four month and one day resale restriction expiring October 1st, 2016 for the first tranche.
Gravitas Securities Inc. ("GRAVITAS") acted as agent for and on behalf of Viscount and is entitled to an Agency Fee of 7% of the cash received from the sale of the Units to certain subscribers, and Compensation Warrants equal to 7% of the aggregate number of Units issued to certain subscribers, exercisable into Common Shares at an exercise price of $0.70 until May 31, 2018.
The Private Placement remains subject to the final approval of the TSX Venture Exchange.
The Company intends to use the net proceeds of the Private Placement for the advancement of the Company's 100%-owned Silver Cliff property in Colorado. Viscount plans to substantiate the mineral inventories through surface sampling and core drilling followed by an evaluation of deposit(s) potential through geophysical surveys, offset drilling and detailed geological mapping. Once this is completed a report will be generated to substantiate the value of the Silver Cliff Property.
Jim MacKenzie, CEO, commented, "We are pleased with the strong investor support for this financing, which strengthens Viscount's balance sheet and allows for advancement of the Company's 100%-owned Silver Cliff property in Colorado."
About Gravitas Securities Inc.
Gravitas Securities Inc. ("GRAVITAS") is a full service investment dealer platform registered with IIROC and headquartered in Toronto. Gravitas provides comprehensive investment banking services, retail advisory and private client portfolio management.
About Viscount Mining (TSX VENTURE:VML)(VLMGF)
Viscount Mining Corp. is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 10,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a bankable feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
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
Jim MacKenzie, President, CEO and Director
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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Contact:
Viscount Investor Relations
604-960-0535
info@viscountmining.com
www.viscountmining.com
April 25, 2016 9:12 AM
Viscount Announces $2 Million Private Placement to Advance Silver Cliff - Marketwired
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 25, 2016) - Viscount Mining Corp. (TSX VENTURE:VML) (OTCQB:VLMGF) ("Viscount" or "the Company") is pleased to announce a Brokered Private Placement (the "Private Placement") and has engaged Gravitas Securities Inc. ("GRAVITAS" or the "Agent") to complete a best efforts private placement to fund an assessment of its Silver Cliff property in Colorado.
The private placement is for 4,000,000 units (each "Unit") at a purchase price of $0.50 per Unit, for aggregate gross proceeds to the Company of up to $2,000,000. Each Unit consists of one (1) common share ("Common Share") of the Company and one (1) non-transferable share purchase warrant ("Warrant").
Each Warrant will entitle the holder to acquire one (1) Common Share at an exercise price of $0.70 for a period of 24 months from the closing date of the Private Placement. In the event that the Company's common shares trade at a closing price on the Exchange of greater than $0.85 per share for a period of 30 consecutive trading days at any time after the closing date, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date hereafter referred to as the ("Eligible Acceleration Date") on which such notice is given by the Company. The private placement is subject to TSX Venture Exchange approval. There will be a hold period of four months and one day on all securities issued under this financing.
Gravitas Securities Inc. ("GRAVITAS") has agreed to act as agent for and on behalf of Viscount with the proposed best efforts private placement offering, and is entitled to an Agency Fee of 7% of the cash received from the sale of the Offered Securities, and Broker Warrants equal to 7% of the aggregate number of Common Shares issued, on the same terms as the Warrants acquired by subscribers to the offering.
The Company intends to use the net proceeds of the Private Placement for the advancement of the Company's 100%-owned Silver Cliff property in Colorado. Viscount Mining Corp plans to substantiate the mineral inventories through surface sampling, and core drilling followed by an evaluation of deposit(s) potential through geophysical surveys, offset drilling and detailed geological mapping. Once this is completed a report will be generated to substantiate the value of the Silver Cliff Property.
Kaare Foy, Viscount Chairman stated: "Following the signing of an earn-in agreement with Sumitomo Corporation of Japan for our Cherry Creek Nevada property in 2015, and the continued work program, the Company feels we are in a suitable position to start advancing the Silver Cliff property in Colorado with this financing."
About Silver Cliff Property
The Silver Cliff property lies within the historic Hardscrabble Silver District, and consists of 96 lode claims where high grade silver, gold and base metal production came from numerous mines during the period 1878 to 1894. It is located 44 miles WSW of Pueblo Colorado and has year-around access by paved road. The property underwent substantial exploration between 1967 and 1984 for the purpose of defining mineral inventories. The major explorers were Freeport, Hecla, Homestake, Moly Corp, Coca Mines and Tenneco Minerals.
Silver Cliff is thought to overlie a large caldera and porphyry system which increases the prospect's potential to host a number of deposits from both precious metals to base metals. This has been demonstrated in the mineralogy and grade historically extracted from numerous underground mining operations dating back to the late 1800s and early 1900s.
Past drilling at Silver Cliff was designed to test only the flat-lying shallow mineralized bodies with vertical holes but not the High-angle mineralized structures which are the ultimate controls for the emplacement of these mineralized bodies. This indicates that follow-up drill programs need to include angle holes which will cut these mineralized structures, potentially upgrading the deposits.
Drilling in the 1980s by Tenneco resulted in a historical pre-feasibility study which formed the company's decision to put the property into production. Known historical silver grades range from below detection to a high of 2,125 g/t (68 o/t) Ag over 13.4 metres. Known historical gold grades range from below detection to a high of 9.06 g/t (0.29 o/t) Au over 1.2 metres. Plans were halted due to the restructuring of Tenneco after it was sold.
In the first phase, the Company has an exploration target of 40 to 50 million ounces of silver. However, potential quantity and grade is conceptual in nature, as there has been insufficient exploration to define a mineral resource, and it is uncertain if further exploration will result in the target being delineated as a mineral resource.
Qualified Persons
Mark J. Abrams, M.Sc., P.G., R.G., C.P.G., an independent consulting geologist who is a "Qualified Person" reviewed, prepared and supervised the preparation or approval of the scientific and technical content in the news release as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43- 101").
About Viscount Mining (TSX VENTURE:VML) (VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 10,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
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
Jim MacKenzie, President, CEO and Director
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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Contact:
Viscount Mining Corp.
Viscount Investor Relations
604-960-0535
info@viscountmining.com
April 6, 2016 9:28 AM
Viscount Announces 2016 Work Program at Cherry Creek, Nevada
Viscount's Flint Canyon area exhibits alteration and mineralization characteristic of Carlin-type gold deposits Drilling budgeted for 32 holes at 24,000 feet or 7320 m - Marketwired Viscount Mining Corp.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 6, 2016) - Viscount Mining Corp. (TSX VENTURE:VML)(VLMGF) ("Viscount" or "the Company"), is pleased to announce the 2016 work program which will commence shortly on the Cherry Creek Property, Nevada. The program will be conducted by Summit Mining Exploration, Inc. ("Summit"), a wholly owned subsidiary of Sumitomo Corporation. The Cherry Creek Mining Property is located in White Pine County approximately 56 miles or 90km north of Ely, NV. The district has a long history of gold, silver, lead, zinc and tungsten production from high-grade vein and replacement deposits.
This program follows up on the successful 2015 work program on Flint Canyon about which Summit stated, "Flint Canyon is a very high priority target area for 2016" as was indicated in the Viscount new release from October 29, 2015.
Kaare Foy, Viscount Chairman stated: "We have a great exploration partner with Sumitomo Corporation and are encouraged with the 2015 work program results. In 2016 we will be working in two very prolific gold and silver jurisdictions and expect it to be a very exciting year for Viscount shareholders."
Flint Canyon 2016 Work Program
The Flint Canyon area contains highly dissected fault blocks of the Dunderberg Shale and is generally recessive with the underlying Marjum Limestone and overlying Notch Peak Limestone. The Dunderberg shale appears to be moderately altered throughout its distribution at Cherry Creek, and at Flint Canyon it experienced widespread and significant alteration by hydrothermal fluids. The Flint Canyon jasperoid and carbonate rock chip samples from 2015 work program are highly anomalous in gold mineralization.
At Flint Canyon, the Pogonip Formation overlies the Notch Peak and both units are important host rocks for Carlin-type gold mineralization in east-central Nevada. Jasperoid occurrences in Nevada are significant in context to Carlin-type gold deposits and mineralized jasperoid outcrops are common throughout the Flint Canyon area. They occur principally along the base of the Dunderberg Shale but other outcrops are found along Pogonip-Notch Peak contact. Many major gold discoveries have been made based on the presence of outcropping, weakly mineralized jasperoid hosted in and along bedding contacts of carbonate rocks. At Flint Canyon, jasperoid is found in the same carbonate rocks that are prolific host rocks at Newmont Mining's nearby Long Canyon gold deposit.
The program is as follows:
Continue soil sampling program on the standard 75 m by 75 m grid. Minimum 1,200 samples to cover Flint Canyon and western flank of the mountain range, as well as much of the remainder of the property.
Continuation of geologic mapping and chip sampling. Remap and sample Flint Canyon area in greater detail. Extend mapping up and outward into areas not covered in 2015 program.
Submit plan for permitting of drilling at Flint Canyon.
The drilling will target an area measuring 1 km by 2 km of anomalous gold associated with jasperoid outcrops occurring in carbonate rocks and with nearby Eocene intrusive dikes.
Exchequer/New Century Mines and Star/Grey Eagle Mines 2016 Work Program
Recent mapping and sampling by the project geologists have verified the anomalous gold in this area, from the Star Mine up to and past the Grey Eagle vein which is subparallel to the Exchequer vein. Since the Star structure strikes northwest, it may extend to the Exchequer vein. Therefore, the potential target area extends from the Star Mine to the Exchequer structure. The drill programs will test the possibility of a major deep seated gold-silver and base metals deposit in this general mineralized area. This could become a significant new area with economic grade mineralization. With the possibility of connecting the three past producing mines underground, could mean a significant cost saving in mining if an economic grade deposit is discovered.
The program is as follows:
Satellite imagery - high resolution satellite imaging of the entire property and generation of rectified 1m topography to be loaded to Vulcan and ArcGIS programs.
Detailed mapping and interpretation of faulting and structures and develop a structural & lithological reconstruction model of the Cherry Creek range.
Transfer mapping and sampling data from ArcGIS to the Vulcan program to allow for dimensional geological interpretation and modeling.
Submit drilling plan for permitting at Star/Gray Eagle Mines, and Exchequer/New Century Mines.
Property-wide drilling budgeted for 32 holes at 24,000 feet (7320 m).
Qualified Persons
The scientific and technical information contained in this news release has been reviewed by Mark J. Abrams, M.Sc., P.G., R.G., C.P.G., 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 ("NI 43- 101").
About Viscount Mining (TSX VENTURE:VML)(VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 10,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com.
About Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator 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 Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp.
ON BEHALF OF THE BOARD OF DIRECTORS
Jim MacKenzie, President, CEO and Director
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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Contact:
Viscount Investor Relations
604-960-0535
info@viscountmining.com
February 10, 2016 9:07 AM
Viscount Mining Announces Addition of Seasoned Business Executive to Advisory Board - Marketwired Viscount Mining Corp.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 10, 2016) - Viscount Mining Corp. (TSX VENTURE:VML) (OTCQB:VLMGF) ("Viscount" or "the Company"), is pleased to announce that business and mining executive Peter Espig has consented to join the Company's advisory board.
Mr. Espig is active in the mining industry and has functioned in management roles and as a director for numerous mining companies. Mr. Espig is currently CEO and Director of Nicola Mining Inc. Mr. Espig is an experienced turnaround expert with a proven track record in multiple business sectors on a global scale, leveraging experience in the analysis of investment opportunities, raising capital, deal sourcing, financial structuring and growing businesses. Over the past ten years, Mr. Espig has structured over US$2.5 billion in private equity and pre-IPO investment transactions from the principal side.
Mr. Espig started his career in 1991 in Japan when he founded Mandalay Japan, a company that earned praise from institutions, such as the Yamanashi Chamber of Commerce and the Japan Consumer Products Review. Commencing in 2003, Mr. Espig served as Vice-President of the Principal Finance and Securitization Group and Asia Special Situations Group for Goldman Sachs Japan where he was active in deal sourcing, analyzing investment opportunities, balance sheet restructuring corporate turnarounds, IPO's and exit preparations for various corporate and real estate investments in excess of JPY 375 billion.
In August 2006, Mr. Espig founded TriAsia Capital, a private equity and consulting firm focused on raising capital for mid-sized companies and pre-IPO investment and consulting. In December 2006, Mr. Espig then assumed the role of Global Head of Finance for TMT Co, Ltd., Taiwan. As TMT's finance leader he was able to increase profit from $150 MM to in excess of $1.0 BN and oversaw more than 200 employees globally.
Mr. Kaare Foy, Viscount's Chairman, said: "We are fortunate in having Peter join our team. His experience and talent will be invaluable to the Company in its rapid growth phase."
Mr. Espig is considered one of Wall Street's leading experts on SPACs (special acquisition company), including the incorporation of foreign issuer status, legal, structuring, and deSPACing process. He is considered to be a leading capital raiser on Wall Street since 2005. He has advised various groups, including: Renaissance Capital, Maxim Group, Dahlman Rose, Frontline, Goldman Sachs, and various commodity groups on cross-border M&A.
Mr. Espig received a B.A. from the University of British Columbia and in 2003 received his MBA from Columbia Business School where he was honored as a Chazen Society International Scholar and published as an author.
As part of the appointment the Company will grant 100,000 stock options to Mr. Espig. The option grant will vest immediately. As per the Company's Stock Option Plan, the options granted are exercisable until February 10, 2021. Grant of the options is subject to the approval of the TSX Venture Exchange.
About Viscount Mining (TSX VENTURE:VML) (VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 9,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
About Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator 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 Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp/english/
ON BEHALF OF THE BOARD OF DIRECTORS
Jim MacKenzie, President, CEO and Director
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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Contact:
Viscount Investor Relations
604-960-0535
info@viscountmining.com
www.viscountmining.com
February 4, 2016 9:07 AM
Viscount Mining Announces Large Intervals of Silver Mineralization with Phase 1 Drill Results - Marketwired Viscount Mining Corp.
http://finance.yahoo.com/news/viscount-mining-announces-large-intervals-140700629.html
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 4, 2016) - Viscount Mining Corp. (TSX VENTURE:VML)(VLMGF) ("Viscount" or "the Company"), is pleased to announce assay results of 12 reverse-circulation (RC) holes from the 2015 Phase 1 drilling program at its flagship Cherry Creek Nevada Property (the "Property"), which is currently being managed and funded by Summit Mining Exploration Inc. ("Summit"), a wholly-owned US subsidiary of Sumitomo Corporation, under the first year of an Exploration-Earn In Agreement. The drilling was designed to test rock chip and soil silver and base metal anomalies, fault-shear-breccia structures and subsurface alteration zones.
Twelve RC drill holes were completed in the historic silver mining area encompassing the former Ticup, Doctor's Cut and Jacob's Cut mines. Hole depths ranged from 79.3m (260 ft) to 329.3m (1080 ft), with a total of 2224.1m (7297 ft) completed. A total of 1551 samples were submitted to ALS Global for assay and multi-element analysis. Samples consisted of 1394 unique drill cutting intervals each representing a minimum of 1.5m (4 ft 11 in) and 157 reference samples. Analytical results from the reference material, comprising 1 blank (landscape marble) and 3 commercial silver standards, did not indicate any QA/QC issues in the laboratory sample preparation or analyses.
Moderate to high grade silver mineralization was intercepted in many of the holes. Notable drill intercepts and silver assays results include:
Hole CC001: 9.1 m at 52.6 g/t Ag, maximum silver assay value of 99.4 g/t
Hole CC002: 27.5 m at 52.0 g/t Ag, maximum silver assay value of 167 g/t
Hole CC006: 12.2 m at 117.6 g/t Ag, maximum silver assay value of 506 g/t
Hole CC008: 100.5 m at 7.4 g/t Ag, maximum silver assay value of 64 g/t
Hole CC010: 15.2 m at 54.2 g/t Ag, maximum silver assay value of 133 g/t
Hole CC011: 30.5 m at 50.0 g/t Ag, maximum silver assay value of 247 g/t
Kaare Foy, Viscount Chairman stated: "At this early stage we are very encouraged with our maiden drill program results, which achieved our targeting objective of intercepting large intervals of silver mineralization. The significance is that this was the first time in over 100 years that modern exploration techniques have been used at Cherry Creek."
All of the results given in this news release were taken directly from the Rangefront Geological drill report prepared for Summit Mining Exploration Inc. ("Summit") . All of the assaying was done by an ISO certified analytical company. Rangefront Geological and Summit geologists do all their work using the best industrial practices.
Table 1 - General information on the 2015 Cherry Creek drill holes
Drill Hole # Site Date Started Date Ended Azimuth Angle TD (m) Target
CC001 TM-04 10/6/2015 10/11/2015 280 -50 228.7 Ticup decline
CC002 DC-04 10/12/2015 10/16/2015 105 -50 329.3 Dr's Cut extension
CC003 DC-04 10/16/2015 10/22/2015 80 -50 243.9 Dr's Cut extension
CC004 TM-01 10/23/2015 10/25/2015 350 -60 304.9 S extension Ticup vein
CC005 TM-01 10/25/2015 10/26/2015 20 -65 152.4 w/s contact*
CC006 TM-01 10/26/2015 10/27/2015 0 -90 121.9 w/s contact*
CC007 TM-03 10/27/2015 10/28/2015 0 -90 82.3 w/s contact*
CC008 TM-03 10/28/2015 10/29/2015 140 -60 100.6 Jacob's Cut
CC009 TM-02 10/31/2015 11/1/2015 0 -90 161.6 w/s contact*
CC010 TM-02 11/1/2015 11/2/2015 120 -50 79.3 w/s contact*
CC011 TM-01 11/2/2015 11/12/2015 150 -50 106.7 Jacob's Cut
CC012 TM-01 11/12/2015 11/15/2015 310 -75 311.0 S extension Ticup vein
* Cambrian
Drill Results are as follows:
Table 2 - List of the 2015 drill holes including the depths of best silver and gold intercepts encountered in the holes, intercept interval in meters ("Length"), average silver or gold concentrations in the best zones, and maximum silver or gold concentrations in the zone.
Drill Hole Best Ag
Interval Length Grade
Ag
(g/t) Max. Ag
(g/t over
=/+1.5m) Best Au
Interval Length Grade
Au
(g/t) Max. Au
(g/t over
=/+ 1.5m)
CC001 33.5-42.6m 9.1m 52.60 99.4 28.9-38.1m 9.2m 0.154 0.230
CC002 106.6-134.1m 27.5m 52.01 167.0 NSR - - -
CC003 NSR - - - 123.4-124.9m 1.5m 0.748 0.748
CC004 249.9-252.9m 3.0m 15.22 16.9 NSR - - -
CC005 147.8-152.4m 4.6m 9.40 10.5 0-6.0m 6.0m 0.029 0.039
CC006 100.5-112.7m 12.2m 117.63 506.0 0-12.1m 12.1m 0.031 0.046
CC007 15.2-21.3m 6.1m 19.58 56.8 0-4.5m 4.5m 0.400 0.410
CC008 0-100.5m 100.5m 7.44 64.0 0-4.5m 4.5m 0.064 0.073
CC008 Including
54.8-60.9m 6.1m 44.32 64.0 NSR - - -
CC009 83.8-91.4m 7.6m 55.78 117.0 80.7-91.4m 10.7m 0.078 0.188
CC010 41.1-56.3m 15.2m 54.24 133.0 39.6-56.3m 16.7m 0.048 0.117
CC010 59.4-60.9m 1.5m 43.40 43.4 NSR - - -
CC011 28.9-59.4m 30.5m 50.03 247.0 25.9-54.8m 28.9m 0.064 0.228
CC012 NSR - - - 9.1-30.4m 21.3m 0.128 0.291
(NSR - No Significant Results)
Quality Assurance/Quality Control ("QA/QC") Measures, Chain of Custody:
The Company has implemented a rigorous QA/QC program using best industry practices at the Cherry Creek Property. Drill core samples are transported in security-sealed bags for analyses at ALS Labs Limited, of Elko, Nevada. Individual samples are labeled, placed in plastic sample bags and sealed. Groups of samples are then placed into durable rice bags that are then shipped. A small 'B split' of each sample of drill cutting interval was collected at the rig and archived in secure storage. The sample pulps and rejects will be retrieved from ALS. The insertion of standards, blanks and duplicates as well as logging was conducted by Rangefront Geological and Summit personnel at the property site.
Qualified Persons
The exploration and drill programs are being managed by David Tretbar, Summit Exploration's Executive Vice President, Exploration and Mineral Resources, a Qualified Person as defined by NI 43-101. Mr. Tretbar is a registered Professional Geologist in Arizona (# 48036) and a Certified Professional Geologist (CPG # 11086) with the American Institute of Professional Geologists.
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 ("NI 43- 101").
About Viscount Mining (TSX VENTURE:VML) (VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 9,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
About Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator 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 Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp
ON BEHALF OF THE BOARD OF DIRECTORS
Jim MacKenzie, President, CEO and Director
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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Cautionary Note for U.S. Investors Regarding Reserve and Resource Estimates
All resource estimates reported by the Company were calculated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining and Metallurgy Classification system. These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission for descriptions of mineral properties in SEC Industry Guide 7 under Regulation S-K of the U. S. Securities Act of 1933. In particular, under U. S. standards, mineral resources may not be classified as a "reserve" unless the determination has been made that mineralization could be economically and legally produced or extracted at the time the reserve determination is made. Accordingly, information in this press release containing descriptions of the Company's mineral properties may not be comparable to similar information made public by US public reporting companies.
Contact:
Viscount Investor Relations
604-960-0535
info@viscountmining.com
January 25, 2016 Top 10 Ranking on TSX Venture 50 VLMGF otc/ VML.tsxvv Marketwired Viscount Mining Corp.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 25, 2016) - Viscount Mining Corp. (TSX VENTURE:VML)(OTCQB:VLMGF) ("Viscount" or "the Company"), is pleased to announce it has been honoured as a 2016 TSX Venture 50™, Top 10 Mining company.
The 2016 TSX Venture 50™ ranking is a comprised of 10 companies from each of the five industry sectors that comprise the TSX Venture Exchange - mining, oil and gas, technology, life sciences, diversified industries and clean technology. The rankings were based on three equally weighted criteria: market capitalization growth, share price appreciation and trading volume. These companies on average have delivered a return of 77% in 2015.
For more information on 2016 TSX Venture 50™, visit http://www.TSX.com/Venture50.
About Viscount Mining (TSX VENTURE:VML)(VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 9,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com.
More About Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator 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 Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp/english/.
ON BEHALF OF THE BOARD OF DIRECTORS
Jim MacKenzie, President, CEO and Director
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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Contact:
Viscount Mining Corp.
Investor Relations
604-960-0535
info@viscountmining.com
www.viscountmining.com
Viscount Mining has been honoured as a 2016 TSX Venture 50™
Top 10 Mining company.
http://us11.campaign-archive2.com/?u=af27227ec882462e607807d65&id=3e4fab0509&e=bc168b4408
HARD MONEY ADVISORS
Jay Taylor – TAYLOR HARD MONEY ADVISORS, “Summit Mining Exploration, Sumitomo’s wholly-owned subsidiary, made it known to Viscount in the fall of 2015 that the Flint Canyon area of Cherry Creek exhibits alteration and mineralization characteristic of Carlin-type gold deposits, and has made “Flint Canyon is a very high priority target area” in 2016. Outside of Flint Canyon, on February 4, 2016, Viscount Mining reported what it called “large intervals of silver mineralization,” which included 27.5 metres of 52.0 grams per tonne (g/t) silver. Future upside for this Company could come from its Silver Cliff Project in Colorado, which lies within a silver district where numerous mines produced high-grade silver during 1878 to 1894, and between 1967 and 1984, more than 350 holes were drilled on the property. Thus, Viscount seems to be positioning itself smartly as a prospect generator and should be one to watch if the precious metals market continues to improve. For more insight on Viscount Mining see Jay Taylor’s commentary here >> http://smallcappower.com/top-stories/jay-taylor-puts-buy-recommendation-on-viscount-mining-corp-tsxv-vml-stock/
In The Media
Gwen Preston: Note that while there’s been some buzz building about Gold Standard Ventures Corp. (TSXV: GSV), with its large land holding on the Carlin Trend, following investments from both Goldcorp and OceanaGold (See more insight here), Viscount Mining Corp. (TSXV: VML) could also attract investor attention in the coming months given that its Cherry Creek property on the Pequop trend is comprised of more than 9,000 acres and includes more than 20 past producing mines. The Resource Maven - Gwen Preston : “ Sumitomo’s quest for gold via Viscount’s Cherry Creek” http://bit.ly/1Vk1MuD
Japan's sole gold mine owner readies for overseas acquisitions
http://www.businesstimes.com.sg/energy-commodities/japans-sole-gold-mine-owner-readies-for-overseas-acquisitions
Sumitomo is HUGE !! What do they know ?
Looks real good.
TOP TEN REASONS TO BE AN INVESTOR IN
TSX.V: VML – OTCQB: VMLGF
WWW.VISCOUNTMINING.COM
1. SUMITOMO – JV AGREEMENT IN 2015 – Sumitomo Corp. is one of the largest integrated trading and investment companies in japan. They are a fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in businesses from the information industry to the retailing industry. Owns Mazda. http://www.sumitomocorp.co.jp/english/
2. LOCATION, LOCATION, LOCATION – Cherry Creek project, Nevada and & Silver Cliff project, Colorado are in pro mining states
3. HISTORIC MINING PORTFOLIO IN NEVADA – this is the first time Cherry Creek’s 20 past producing mines have been assembled under single ownership.
4. COMMODITIES – Gold and silver, plus, plus, plus
5. DRILLING – Both projects summer 2016
6. LAND OWNERSHIP – Majority patented land (100% owned)
7. CAPITAL STRUCTURE –
SHARES OUTSTANDING
35,210,673
STOCK OPTIONS
3,121,000
WARRANTS
10,603,047
FULLY DILUTED
48,934,720
Company ownership 60% to officers, directors and insiders…others/float 40%
8. MANAGEMENT TEAM – led by Kaare G. Foy – Chairman – former chairman of Great Panther Silver he took company to $600mm market cap on the NYSE. Prominent, capable, exploration and financing teams
9. LIQUIDITY – trades on the TSX.V and OTCQB
10. EXIT STRATEGY– JV and selling property to produce dividend returns to the investors
Viscount Mining Corp Sets 52-Week High; Strong Momentum for
NOVEMBER 27, 2015 BY CASEY MCCARTHY IN IMPORTANT STOCK NEWS
The stock of Viscount Mining Corp (TSXv:VML) hit a new 52-week high and has $1.59 target or 189.00% above today’s $0.55 share price. The 5 months bullish chart indicates low risk for the $18.81 million company.
The 1-year high was reported on Nov, 27 by Barchart.com. If the $1.59 price target is reached, the company will be worth $35.55 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.
The stock increased 3.77% or $0.02 on November 27, hitting $0.55. About 172,350 shares traded hands or 88.18% up from the average. Viscount Mining Corp (CVE:VML) has risen 6.00% since October 28, 2015 and is uptrending. It has outperformed by 7.36% the S&P500.
Viscount Mining closed at all time high $0.55
New high: Viscount Mining (TSXV: VML) (OTCQB:VLMGF) closes at $0.55 on 172.35k volume on @TMXGroup #mining #stocks
Read more at http://www.stockhouse.com/companies/bullboard/bullboard/v.vml/viscount-mining-corp#QxbT6Ua1cjdG0HWi.99
VML/VLMGF samples 3.83 g/t Au
Viscount Mining samples 3.83 g/t Au at Cherry Creek Nevada
[color=red](JV Partner Summit Mining Subsidiary of mining giant Summitomo)
[/color]
2015-10-29 06:59 ET - News Release
Mr. Jim MacKenzie reports
VISCOUNT'S FLINT CANYON EXHIBITS CARLIN-TYPE GOLD CHARACTERISTICS AT ITS CHERRY CREEK PROPERTY
Viscount Mining Corp. has released the new interpretation on Flint Canyon by Summit Mining Exploration Inc., a wholly owned subsidiary of Sumitomo Corp. Summit recognizes that the area exhibits alteration and mineralization characteristic of Carlin-type gold deposits (CTDs). Summit states "that Flint Canyon is a very high-priority target area." The 2016 Cherry Creek exploration program will start at Flint Canyon with a soil sampling program combined with continued detailed geologic mapping and a drilling program.
The 2015 mapping at Flint Canyon found the area to be much more complexly faulted than previously indicated on the Adair 1961 geologic base map. Summit's mapping program found that east-west orientated faults and fractures, which are important ore-controlling structures at the Ticup and Star mines, also occur in the area. The Flint Canyon area contains highly dissected fault blocks of the Dunderberg shale with the underlying Marjum limestone and overlying Notch Peak limestone. The Pogonip formation overlies the Notch Peak and both units are important host rocks for Carlin-type gold mineralization in east-central Nevada.
Jasperoid occurrences in Nevada are extremely significant in context to Carlin-type gold deposits and mineralized jasperoid outcrops are common throughout the Flint Canyon area. They occur principally along the base of the Dunderberg shale but other outcrops are found along Pogonip-Notch Peak contact. Many major gold discoveries have been made based on the presence of outcropping, weakly mineralized jasperoid hosted in and along bedding contacts of carbonate rocks. At Flint Canyon, jasperoid is found in the same carbonate rocks that are prolific host rocks at nearby large gold deposits (Newmont Mining-Long Canyon, and Barrick Gold Corp.-Bald Mountain deposits).
The jasperoid beds, interpreted as west-dipping tabular features, occur along the base of the Dunderberg shale and within the Pogonip group limestone. Summit's geological team indicated that the Dunderberg shale is generally recessive and is exposed mainly along the outcropping contacts with more competent rocks. The Dunderberg appears to be moderately altered throughout its distribution, and, at Flint Canyon, it experienced widespread and significant alteration by hydrothermal fluids. The underlying Marjum limestone is usually competent and unaltered, while the overlying Pogonip exhibits variable alteration.
The Flint Canyon jasperoid and carbonate rock chip samples are highly anomalous in gold mineralization. Of the 203 rock samples collected in the Flint Canyon domain (includes northern Lead mine canyon):
Maximum gold grade of 3.83 grams per tonne, which is 0.123 ounce per tonne gold;
Six samples greater than one g/t Au;
Fifty-one samples greater than 0.1 g/t Au;
Eighty-one samples greater than 0.05 g/t Au (50 parts per billion Au), the lower threshold for significant gold value.
Quality control and analytical procedures
The soil and rock chip analytical packages are through ALS Labs Ltd. of Elko, Nev. Soil samples were collected and analyzed by 58 elements via ME-MS61 and AuAA-23, with overlimit analyses for gold, silver, lead, zinc and copper. Rock chip samples were collected and analyzed by 58 elements via ME-MS61 and AuAA-23, with overlimit analyses for Au, Ag, Pb, Zn and Cu. Consult the ALS website for more information on the analytical packages being used on the Cherry Creek samples.
The scientific and technical information contained in this news release has been reviewed and approved 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.
We seek Safe Harbor.
© 2015 Canjex Publishing Ltd. All rights reserved.
VML / VLMGF Game on with the big boy miners in the region.
Summit Mining Exploration, Inc. (“Summit”), is a wholly owned subsidiary of Sumitomo Corporation. Key point to remember in conjunction with Viscount's Oct 29 News (TSXv: VML) (VLMGF: OTCQB) Newmont and all the big miners are in Nevada.
Sure looks like Viscount did a great job putting this land package after years and years.
About Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator 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 Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp
For further information, please contact:
Viscount Investor Relations
Email: info@viscountmining.com
Yes, things looking to be going Great with Viscount!, Long and strong here
PRESS RELEASE October 29, 2015
Viscount’s Flint Canyon Exhibits Carlin-type Gold Characteristics at its Cherry Creek Property
VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (OTCQB: VLMGF) (“Viscount” or “the Company”), is pleased to report on the new interpretation on Flint Canyon by Summit Mining Exploration, Inc. (“Summit”) geologists. They recognize that the area exhibits alteration and mineralization characteristic of Carlin-type gold deposits (CTD’s). Summit states “that Flint Canyon is a very high priority target area”. The 2016 Cherry Creek exploration program will start at Flint Canyon with a soil sampling program combined with continued detailed geologic mapping and a drilling program.
The 2015 mapping at Flint Canyon found the area to be much more complexly faulted than previously indicated on the Adair 1961 geologic base map. Summit’s mapping program found that east-west orientated faults and fractures, which are important ore controlling structures at the Ticup and Star Mines, also occur in the area.
The Flint Canyon area contains highly dissected fault blocks of the Dunderberg Shale with the underlying Marjum Limestone and overlying Notch Peak Limestone. The Pogonip Formation overlies the Notch Peak and both units are important host rocks for Carlin-type gold mineralization in east-central Nevada.
Jasperoid occurrences in Nevada are extremely significant in context to Carlin-type gold deposits and mineralized jasperoid outcrops are common throughout the Flint Canyon area. They occur principally along the base of the Dunderberg Shale but other outcrops are found along Pogonip-Notch Peak contact. Many major gold discoveries have been made based on the presence of outcropping, weakly mineralized jasperoid hosted in and along bedding contacts of carbonate rocks. At Flint Canyon, jasperoid is found in the same carbonate rocks that are prolific host rocks at nearby large gold deposits (Newmont Mining-Long Canyon, and Barrick Gold Corp.-Bald Mountain deposits).
The jasperoid beds, interpreted as west dipping tabular features, occur along the base of the Dunderberg Shale and within the Pogonip group limestone. Summit’s geological team indicated that the Dunderberg Shale is generally recessive and is exposed mainly along the outcropping contacts with more competent rocks. The Dunderberg appears to be moderately altered throughout its distribution, and at Flint Canyon it experienced widespread and significant alteration by hydrothermal fluids. The underlying Marjum Limestone is usually competent and unaltered, while the overlying Pogonip exhibits variable alteration.
The Flint Canyon jasperoid and carbonate rock chip samples are highly anomalous in gold mineralization. Of the 203 rock samples collected in the Flint Canyon domain (includes northern Lead Mine Canyon):
? - Maximum gold grade of 3.83 g/t, which is 0.123 ounce per tonne Au
? - 6 samples > 1.0 g/t Au
? - 51 samples > 0.1 g/t Au
? - 81 samples > 0.05 g/t Au (50 ppb Au), the lower threshold for significant gold value.
QC and Analytical Procedures
The soil and rock chip analytical packages are through ALS Labs Limited, of Elko, Nevada. Soil samples were collected and analyzed by a 58 elements via ME-MS61 and AuAA-23, with over limit analyses for Au, Ag, Pb, Zn and Cu. Rock Chip samples were collected and analyzed by a 58 elements via ME-MS61 and AuAA-23, with over limit analyses for Au, Ag, Pb, Zn and Cu. Consult the ALS website for more information on the analytical packages being used on the Cherry Creek samples: www.alsglobal.com/Our-Services/Minerals/Geochemistry/Service-Schedule
The scientific and technical information contained in this news release has been reviewed and approved 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 ("NI 43- 101").
About Viscount Mining (TSX VENTURE: VML) (OTCQB: VLMGF)
Viscount Mining is an exploration company with a portfolio of gold and silver properties in the Western United States, including Cherry Creek in Nevada and Silver Cliff in Colorado. Cherry Creek is comprised of more than 10,000 acres, all 100% owned, and includes more than 20 past producing mines. Viscount has entered into an exploration earn-in agreement with Sumitomo Corporation covering the Cherry Creek property. Sumitomo can earn in up to a 75% interest in the property by producing a feasibility study and by spending in addition a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the earn-in agreement. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past-producing mineral districts of Silver Cliff and Rosita Hills.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
About Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a Fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator 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 Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim MacKenzie”
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
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.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Although Viscount Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Viscount Mining Corp. management on the date the statements are made. Except as required by law, Viscount Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Very nice indeed on Canadian Trading side of things today as volume was 393K and and just shy of 2 M overall volume since Sept 29, 2015 We think here is a ton of news because of ongoing drilling for sure from Nevada, not sure of drilling in Colorado.
I'm researching the Colorado Silver cliff Project and things I'm finding out about Hecla Mining are really encouraging. Now trying to find hard info re them approving a $30 -$40M M mill back in the day before silver fell out of bed.
If you can locate anything of historical reference in either location, pls share on the BB. Right now its you and me and the news that just came out.
Have been doing some research, Cherry pointe could be huge for Vlmgf
2015-10-14 06:16 ET - News Release
Viscount Mining begins phase 1 drilling at Cherry Creek
Mr. Jim MacKenzie reports
VISCOUNT MINING COMMENCES DRILL PROGRAM ON CHERRY CREEK PROPERTY
Phase 1 drilling has commenced at Viscount Mining Corp.'s flagship Cherry Creek Nevada property, which is currently being managed and financed by Summit Mining Exploration Inc., a wholly owned U.S. subsidiary of Sumitomo Corp., under the exploration-earn in agreement.
Historical Cherry Creek mining district
The Cherry Creek mining district is located in White Pine county approximately 56 miles or 90 kilometres north of Ely, Nev. The district has a long history of gold, silver, lead, zinc and tungsten production from high-grade vein and replacement deposits. The first mine in the Cherry Creek area was the Ticup, discovered in 1872. This initial discovery brought an immediate rush of prospectors to the area. Following the Ticup were the Star, Exchequer and Grey Eagle mines. By 1874 there were a reported 20 mines of various production rates in operation.
The silver mineralization in the Ticup and Fillmore veins occurs in lens-shaped chutes with the Ticup mine occurring in one that according to historical records produced more than three million ounces of silver with some grades exceeding 3,500 ounces per tonne silver. By 1927, the mines had underground workings of more than 7.6 miles or 12.2 km (source: University of Nevada bulletin, Aug. 1, 1931, prepared by F.C. Schrader, geologist, U.S. Geological Survey, prepared and published by the Nevada State Bureau of Mines and the United States Geological Survey).
From 2010 to 2015, Viscount accumulated all 20 known historic mines and formed a land package in excess of 10,000 acres. The significance is that this will be the first time in 140 years that modern exploration techniques will be used on a large consolidated land package in the Cherry Creek mining district.
Most of the current highest assay values coincide with the known historic mining trends and the structural interpretations made from the 2014 and 2015 rock chip sampling programs by Summit's exploration contractor, Rangefront Geological, across the Cherry Creek property. The rock chip sampling results indicate widespread occurrences of anomalous to high-grade gold, silver and base metal mineralization thereby confirming the information cited in historic reports.
Reverse circulation (RC) drilling program
Drilling has begun at Cherry Creek and is being conducted by Harris Exploration Drilling & Associates Inc. of Fallon, Nev. Assay results will be released as they become available from ALS Labs Ltd. The drill program will comprise approximately 10 to 12 holes totalling 10,000 feet (3,050 metres). The reverse circulation (or RC) drilling has started and the first hole is targeting the high-grade silver (and/or gold, zinc, lead) mineralization at the Ticup mine area.
At the Ticup mine a large block of highly altered and mineralized Wheeler shale and Swasey limestone is interpreted by Rangefront to be the down-faulted lateral extension of the Doctor's Cut vein. The drilling will test structural intersections and lithological contacts.
The drill program is being managed by Summit Exploration's executive vice-president, exploration and mineral resources, David Tretbar, a qualified person as defined by NI 43-101.
Jim MacKenzie, Viscount president and chief executive officer, stated: "We are very pleased with the commencement of the first drill program, which is intended to validate the soil and rock samples from the last three surface work programs. Based on the history of production at Cherry Creek it has the potential to host large bodies of mineralization."
The scientific and technical information contained in this news release has been reviewed and approved 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 (NI 43- 101).
We seek Safe Harbor.
© 2015 Canjex Publishing Ltd. All rights reserved.
2015-10-05 06:21 ET - News Release
Viscount hires Harris for Cherry drill program
Mr. Jim MacKenzie reports
VISCOUNT ANNOUNCES DRILL CONTRACT AND MOBILIZATION AT CHERRY CREEK NEVADA
Viscount Mining Corp. has begun mobilizing for the 2015 phase 1 drilling program at its flagship Cherry Creek Nevada property, which is currently being managed by Summit Mining Exploration Inc., a wholly owned United States subsidiary of Sumitomo Corp., under the exploration earn-in agreement.
Phase 1 reverse circulation (RC) drilling program
Harris Exploration Drilling & Associates Inc. of Fallon, Nev., has been chosen after a review of several drill company bids and is mobilizing to the project site. The initial reverse circulation (RC) drill program will comprise approximately 10 to 12 holes totalling 10,000 feet (3,050 metres). The maximum planned hole depth is 1,200 feet (365.85 m), but Harris will have extra drill pipe on hand to take depth to 1,500 feet (457.3 m) as indicated by progress and results.
The drill program is being managed by Summit Exploration's executive vice-president, exploration and mineral resources, David Tretbar, a qualified person as defined by National Instrument 43-101. He is a certified professional geologist (CPG No. 11086) with the American Institute of Professional Geologists and a registered professional geologist in Arizona (No. 48036). Mr. Tretbar is a graduate of the Mackay School of Mines, University of Nevada Reno (MS, geochemistry).
Jim MacKenzie, Viscount president and chief executive officer, stated, "We are very pleased with the progress of the detailed mapping, sampling and selection of the drill targets and look forward to a successful drill campaign."
ALS Labs Ltd. will perform sample analysis at their facility in Elko, Nev. QA/QC (quality assurance/quality control) protocols including blanks, standards, duplicates and chain of custody have been established and will be followed in accordance with best industry practices and in compliance with NI 43-101 guidelines.
Property road access improvements
Summit filed two notices of intent (NOI) with the Ely office of the Bureau of Land Management (BLM) to widen the switchback road western and for the construction of drill pads, with both notices being approved and bonded.
We seek Safe Harbor.
© 2015 Canjex Publishing Ltd. All rights reserved.
2015-08-26 16:47 ET - In the News
Taylor says buy Viscount Mining
Jay Taylor, in the Aug. 12, 2015, edition of Gold, Energy & Tech Stocks, says buy Viscount Mining Corp., recently 20 cents. Mr. Taylor first said buy on Feb. 13, 2015, at 28 cents. Assuming a $1,000 investment for that buy, the position is now worth $714. Viscount is the latest addition to Mr. Taylor's list of prospect generators.
As of Feb. 28, it had 33.44 million shares outstanding and $2-million in working capital. The company currently holds only two projects, Cherry Creek in Nevada and Silver Cliff in Colorado. The first is optioned to Sumitomo Corp., which can earn a 75-per-cent interest by completing a feasibility study and spending a minimum of $10-million on exploration. Sumitomo has started exploring Cherry Creek, and seems to be doing so very aggressively according to Mr. Taylor.
He expects to see drill results before the end of the year, and good ones, too, given that drilling is occurring at areas with known high-grade silver mineralization. Silver Cliff should also have little difficulty attracting a major, adds the editor. With or without a substantial move in the price of silver, Viscount s market cap has the potential to be much higher than its current $6.7-million, Mr. Taylor concludes.
© 2015 Canjex Publishing Ltd. All rights reserved.
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.
We seek Safe Harbor.
© 2015 Canjex Publishing Ltd. All rights reserved.
2015-07-07 06:21 ET - News Release
Viscount optionee begins phase 2 sampling
Mr. Jim MacKenzie reports
VISCOUNT PROVIDES EXPLORATION UPDATE ON CHERRY CREEK PROPERTY
Viscount Mining Corp. has provided an update on the continuing exploration activities recently completed at 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 the exploration earn-in agreement. As previously announced on May 19, 2015, Summit has retained the services of Rangefront Geological Services of Elko, Nev., to begin an extensive soil sampling survey to collect approximately 1,500 samples.
Soil sampling program
The phase 1 soil survey was completed and a report was issued by Rangefront Geological. A total of 1,032 samples were collected and analyzed by a 51-element plus gold ICP procedure (ME-MS41 and Au-TL43) at ALS Labs Ltd. of Elko, Nev. The sample grid spacing is 75 metres by 75 m. At the end of May, 2015, the phase 2 sampling program was started in an area that extends to the west and covers the Doctor's Cut, and the Fillmore, Ticup and Geneva mines. This sampling campaign will collect an additional 466 soil samples, for a total of 1,498.
Geologic mapping and rock chip sampling
Contract geologists Dr. Jamie Robinson and Will Ostrenga started geologic mapping of the higher elevation carbonate units of the Swasey limestone, Wheeler shale and lower Marjum limestone. Rock chip samples are collected while geologic mapping is being conducted. To date, more than 175 rock chip samples have been collected and submitted for analysis and results will be reported later. The following points concerning geology in the mapped area are excerpts from the Summit activity report for May, 2015.
Mapping coverage starts along the Exchequer fault at the Fillmore mine and extends northeast along trend to the Black Metals fault. The carbonate section here is highly dissected by normal faulting, with two principal orientations of east-west (Exchequer parallel) and northwest-southeast (Al Ray Canyon fault corridor).
The Swasey-Wheeler contact exhibits widespread quartz stockwork and jasperiod quartz flooding. Carbonate bleaching and dissolution features are common along the contact and throughout the entire Swasey section.
Large open karsts (large dissolution cavities) are apparent in outcrop in the massive cliffs forming the north wall of Exchequer Canyon.
All of these features are indicative of hydrothermal fluid flow and fluid reactions with the carbonate rocks and along lithologic contacts.
Mapping at the Fillmore mine and Doctor's Cut indicates that the Swasey and Wheeler formations are much thicker than indicated on the Adair geologic base map of 1961.
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.
Pursuant to the company's stock option plan it has granted 100,000 stock options at a price of 20 cents per common share to a director and officer of the company. The option grant will vest immediately. As per the company's stock option plan, the options granted are exercisable until July 7, 2020. Grant of the options is subject to the approval of the TSX Venture Exchange.
We seek Safe Harbor.
© 2015 Canjex Publishing Ltd. All rights reserved.
2015-06-29 06:11 ET - News Release
Viscount Mining to begin trading on OTCQB
Mr. Jim MacKenzie reports
VISCOUNT COMMENCES TRADING IN THE U.S. MARKET ON THE OTCQB
Viscount Mining Corp.'s common shares have been approved for trading in the United States on the OTCQB.
Viscount's shares will begin trading under the symbol VLMGF. The corporation will continue to trade on the Toronto Venture Exchange under its existing symbol VML.
Kaare Foy, chairman of Viscount Mining, stated: "The company is moving forward with its U.S. partnership in Nevada with Sumitomo Corp., and trading on the OTCQB will create greater visibility with U.S. investors as well as expedite the company's opportunity in the global capital markets. The new listing will complement our presence on the Toronto Venture Exchange, while facilitating and enhancing global trading in Viscount's common shares, especially in the U.S. market."
Trading on the OTCQB does not involve the issuance of new common shares of the corporation or any other securities. The common shares of the corporation that are currently issued and outstanding, and trading on the TSX Venture Exchange, may now also be traded through the OTCQB.
We seek Safe Harbor.
© 2015 Canjex Publishing Ltd. All rights reserved.
2015-06-09 06:15 ET - News Release
Viscount Mining appoints Devine as director
Mr. Kaare Foy reports
HONORABLE GRANT DEVINE JOINS BOARD OF VISCOUNT
Viscount Mining Corp. is appointing former premier of Saskatchewan Grant Devine, BScA, MScA, MBA, PhD, PAg, FAIC, SOM, as a director of the company.
Dr. Devine has had a distinguished career in academics and business, and was a member of the Provincial Parliament of Saskatchewan for nearly 13 years. He served as Premier of Saskatchewan from May 8, 1982, to Nov. 1, 1991.
Since his retirement from government, Dr. Devine has served on a number of boards, including Agrium Inc., where he was chairman, environment, health and safety committee, and member, corporate governance committee.
Dr. Devine received the Queen Elizabeth II Diamond Jubilee Medal for Outstanding Public Service in December, 2012, and the Saskatchewan Order of Merit in 2009. Since 1976, Dr. Devine has addressed business, academic and political leaders worldwide, and was a key first minister participant in the Canada-United States Free Trade Agreement (FTA).
He participated as a Canadian premier in various aspects of the GATT (General Agreement on Tariffs and Trade) negotiations in Brussels and Geneva, as well as mandated various international development projects undertaken by the government of Saskatchewan.
Born in Regina, Sask., he received a bachelor of science in agriculture degree specializing in agricultural economics from the University of Saskatchewan, a master of science specializing in agricultural economics from the University of Alberta, a master of business administration from the University of Alberta and a doctor of philosophy in agricultural economics from Ohio State University.
Kaare Foy, chairman of Viscount Mining, stated: "We could not be more pleased that Dr. Grant Devine has agreed to serve on our board. Grant has extensive experience as a former premier of Saskatchewan, university faculty member, and director of various private, public and community development organizations. He brings a wealth of knowledge in core competencies such as board governance and strategic planning. We look forward to the expertise that Grant will bring to Viscount Mining."
We seek Safe Harbor.
© 2015 Canjex Publishing Ltd. All rights reserved.
2015-05-25 18:58 ET - In the News
Jay Taylor refreshes Viscount Mining buy
Jay Taylor, in the May 15, 2015, edition of Gold, Energy & Tech Stocks, refreshes his buy of Viscount Mining Corp., recently 23 cents. Mr. Taylor said buy on Feb. 13, 2015, at 28 cents. Assuming a $1,000 investment for the buy, the position is now worth $821.
Mr. Taylor says Viscount is an especially exciting company because of its recently completed deal to option a 75-per-cent interest in its Cherry Creek property to Summit Mining Exploration Inc., a subsidiary of Sumitomo Corp.
For the interest, Summit must complete a bankable feasibility study and spend a minimum of $10-million (U.S.) on exploration over eight years. The editor notes that the 9,000-acre Cherry Creek had previously been carved up into many small family-owned land claims, which is the reason no major mining company ever bothered to explore and develop the area despite it being "highly prospective."
After Viscount's president, Jim MacKenzie, decided to acquire and consolidate some of the land claims into one package Mr. Taylor adds, Sumitomo paid a visit to the property and then moved quickly to strike a deal. Viscount remains a buy.
2015-03-30 23:36 ET - In the News
Taylor refreshes buy of Viscount Mining
Jay Taylor, in the March 16, 2015, edition of Gold, Energy & Tech Stocks, refreshes his buy of Viscount Mining Corp., recently 36 cents. Mr. Taylor said buy on Feb. 13, 2015, at 28 cents. Assuming a $1,000 investment for the buy, the position is now worth $1,285. Viscount has optioned a 75-per-cent interest in its past-producing Cherry Creek property in Nevada to Summit Mining Exploration Inc., a subsidiary of Sumitomo Corp.
Mr. Taylor reminds his readers that a potential joint venture with Sumitomo is the reason he first recommended the stock. For the interest, Summit must pay $500,000 (U.S.) up front, and deliver a bankable feasibility study and spend $10-million (U.S.) on exploration within eight years.
Summit financed a field sampling program at Cherry Creek last year, collecting 302 samples that returned anomalous values of gold, silver and base metal mineralization congruent with historical data. Of the samples, 21 assayed greater than one gram per tonne gold and 99 assayed greater than one ounce per ton silver. Mr. Taylor expects Summit to carry out an aggressive drill program this year. Good results from that program should lift this stock, he concludes, especially when precious metals turn bullish.
© 2015 Canjex Publishing Ltd. All rights reserved
Taylor says buy Viscount Mining
2015-02-25 17:07 ET - In the News
Jay Taylor, in the Feb. 13, 2015, edition of Gold, Energy & Tech Stocks, says buy Viscount Mining Corp., recently 28 cents. This is the first time he has recommended the stock.
Mr. Taylor says Viscount is one of the most exciting new stories he has seen throughout his career. CEO Jim Mackenzie, the man who is responsible for giving birth to Viscount, has been accumulating a 9,000-acre portfolio of exploration claims in Nevada over the past few years.
The most notable ones to Mr. Taylor are Exchequer, Ticup-Fillmore and Star, which are all previously explored projects part of the larger Cherry Creek property.
The editor notes that Cherry Creek lies in a historic mining district that saw high-grade production from numerous mines until the 1920s. In June, 2014, Viscount signed a deal with Sumitomo Corp. of Americas to carry out field mapping and sampling work. Mr. Taylor reckons they will end up forming a JV of some sort.
In addition to Cherry Creek, Viscount has also optioned the Silver Cliff property in Colorado. The editor envisions Viscount as a prospect generator, but one with less risky properties than others. If Sumitomo or another major steps in, this company could rise "dramatically higher."
© 2015 Canjex Publishing Ltd. All rights reserved
May 19, 2015 PRESS RELEASE
SUMMIT COMMENCES EXPLORATION PROGRAM AT CHERRY CREEK, NEVADA
VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (“Viscount” or “the Company”), a mineral resource exploration company with a portfolio of past producing gold and silver mines and exploration properties in the Western United States, is pleased to announce the 2015 exploration campaign has commenced on the Cherry Creek Project in White Pine County, Nevada.
The Cherry Creek Project (the “Property”) lies within an historic silver district, where high grade silver production came from numerous mines up to the 1920’s. This land holding includes the three largest past producing silver mines on the property – the Exchequer/New Century Mine, the Ticup Mine and the Star Mine.
After signing an Exploration–Earn In Agreement with Summit Mining Exploration II Inc.(“Summit”), a wholly owned US subsidiary of Sumitomo Corporation, Summit as operators are primed to initiate the 2015 exploration campaign on the Company’s Cherry Creek property block.
Summit has retained the services of Rangefront Geological Services of Elko, Nevada to begin an extensive soil sampling survey to collect approximately 1500 samples. Much of this area exhibited strong silver-gold and base metal anomalies from samples previously collected from outcrops.
ALS Chemex in Reno Nevada will conduct the analytical work.
Summit has also strengthened its team with the addition of Geologist Dr. James Robinson Ph.D. PG.Mr. Jim MacKenzie, President and CEO of Viscount stated: ”Dr. Robinson has worked extensively in eastern Nevada and is well published in technical journals, and has been working at Kinsley Peak (Pilot Gold) in recent years. We need detailed structural mapping and his experience with the same aged rocks as we have at Cherry Creek is invaluable”.
During the 2015 and 2016 work seasons Summit Mining International Inc. will be funding a graduate student from the University of Nevada, Reno (UNR) to conduct research on specific aspects of the property geology. The program is administered through the Center for Research in Economic Geology (CREG) at UNR.
The research project will be coordinated by Mike Ressel Ph.D, a research geologist with the Nevada Bureau of Mines and Geology. Previously, Mike was Chief Geologist of North America for Newmont Mining. Mike has a B.S. in Geology from California State Polytechnic University, Pomona (1989) and M.S. and Ph.D. degrees in Geology (1996 and 2005, respectively) from the University of Nevada, Reno. His graduate studies were Nevada-focused and broadly covered aspects of Tertiary volcanic geology, igneous petrology, regional magmatism, ore deposits, and tectonics. A major focus of his Ph.D. work was on the relationships between magmatism and Carlin type gold mineralization on the Carlin Trend, Nevada.
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
Jim MacKenzie,
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
About Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in businesses from the information industry to the
retailing industry. Summit Mining Exploration, Inc. is wholly owned subsidiary of Sumitomo Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp/english/
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.
May 13, 2015 PRESS RELEASE
Viscount Completes Final Payments Covering 20 Previously Producing Mines at Cherry Creek Project, Nevada
VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (“Viscount” or the “Company”), a mineral resource exploration company with a portfolio of past producing gold and silver mines and exploration properties in the western United States, is pleased to announce it has spent $1,400,000 to date on the property in the Cherry Creek Mining District, White Pine County, Nevada including the final payment on the 20 previously producing mines.
The original Cherry Creek Project (the “Property”) lies within an historic silver district, where high grade silver production came from numerous mines up to the 1920’s. These land holdings include the three largest past producing silver mines in the district – the Exchequer-New Century Mine, Ticup Mine and the Star Mine. This area makes up of 2,600 acres including all 20 past producers on patented land. This project can now be included as belonging to the recently established “Pequop” or Long Canyon mineral belt.
Cherry Creek is located on trend and shares the same geologic characteristics with Newmont’s Long Canyon Deposit which boasts a 1.2 plus million ounces gold resource that should produce an estimated 100,000 to 150,000 ounces of gold per year (“Source: Newmont Mining Corporation ( NYSE: NEM ) Press Release April 8th, 2015”). Geologically the elements that are shared with Long Canyon include stratigraphy from the same formations, specifically calcareous units that lend themselves to mineralized replacement and structurally controlled high grade precious metal mineralization.
Jim MacKenzie, President & CEO stated “We are pleased to have completed the final purchase of the original Cherry Creek land package, making Viscount 100% owners. This is the first time in over a century that these 20 previously producing mines are now owned by one single entity.
Viscount remains in strong financial position without any debt.”
After signing an exploration earn-in agreement with Sumitomo Corporation and its wholly owned US subsidiary Summit Mining Exploration II Inc.(“Summit”), Viscount is gearing up for a full 2015 exploration campaign with Summit as operators on the Company’s Cherry Creek property
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
About Viscount Mining (TSX-V: VML)
Viscount Mining is an exploration company with a portfolio of properties in the Western United States including holdings in Nevada comprising more than 9,000 acres, all 100% owned, including more than 20 past producing silver and gold mines. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past producing mineral districts of Silver Cliff and Rosita Hills.
ON BEHALF OF THE BOARD OF DIRECTORS
“Jim MacKenzie”
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
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.
April 28, 2015 PRESS RELEASE
2015 EXPLORATION CAMPAIGN TO COMMENCE AT SILVER CLIFF COLORADO PROJECT
VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (“Viscount” or “the Company”), a mineral resource exploration company with a portfolio of past producing gold and silver mines and exploration properties in the Western United States, is pleased to announce the 2015 exploration campaign is poised to commence on the Silver Cliff Project in Custer County Colorado The Silver Cliff Property (the “Property”) lies within the historic Hardscabble Silver District, where high grade silver, gold and base metal production came from numerous mines during the period 1878 to 1894.
The property underwent substantial exploration between 1967 and 1984. Companies who became involved with Silver Cliff since 1976 included, but was not limited to; Freeport, Homestake, Moly Corp, FMC, CoCo Mines, Hecla and Tenneco. Work completed at Silver Cliff has included drilling of approximately 350 holes.
The Company is now planning to initiate an exploration campaign, scheduled to begin early in May 2015 as there are no current mineral resources or mineral reserves identified on the property. None of the previous reports are currently NI 43 101 compliant and verifiable by a qualified person.The program will include:
- Surface sampling of potential high-grade shows
- Check sampling of previously reported mineralized areas
- Survey of historically reported drill sites to aid in targeting for future drilling campaigns
- Evaluation of current claim coverage for potential upgrades and additional staking
- Securing easement agreements from local land owners
- Initiating permitting necessary for planned development work
- Collection of representative material from previously reported mineral inventories
- Test work for proprietary mineral concentration methodologies on mineralized material
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
Jim MacKenzie,
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
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.
April 13, 2015 PRESS RELEASE
VISCOUNT EXPANDS CLAIM BLOCK COVERING CHERRY CREEK DISTRICT IN NEVADA
VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (“Viscount” or “the Company”), a mineral resource exploration company with a portfolio of past producing gold and silver mines and exploration properties in the Western United States, is pleased to announce it has strengthened its monopoly of the Cherry Creek Mining District in White Pine county Nevada.
The Cherry Creek Project (the “Property”) lies within an historic silver district, where high grade silver production came from numerous mines up to the 1920’s. This land holding includes the three largest past producing silver mines on the property – the Exchequer/New Century Mine, Ticup and the Star Mine.
After signing an Exploration – Earn In Agreement with Summit Mining Exploration II Inc.(“Summit”), a wholly owned US subsidiary of Sumitomo Corporation, Summit as operators are gearing up for a full 2015 exploration campaign on the Company’s Cherry Creek property block. As
such, the Company has, at Summit’s request, staked 17 additional lode claims to protect what they consider highly prospective ground. The area staked has been previously referred to as the “Zinc Beds” Summit has also leased a 5 acre parcel from a local resident to erect an exploration base camp. The camp will include modular office and living quarters, core logging and storage facilities and installation of utilities.
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
About Viscount Mining (TSX-V: VML)
Viscount Mining is an exploration company with a portfolio of properties in the Western United States including holdings in Nevada comprising more than 9,000 acres, all 100% owned, including more than 20 past producing silver and gold mines. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past producing mineral districts of Silver Cliff and Rosita Hills.
About Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in businesses from the information industry to the retailing industry. Summit Mining Exploration, Inc. is wholly owned subsidiary of
Sumitomo Corporation and is headquartered in Colorado, USA.
For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp/english/
ON BEHALF OF THE BOARD OF DIRECTORS
Jim MacKenzie,
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
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.
March 31, 2015 PRESS RELEASE
VISCOUNT ENGAGES TORREY HILLS CAPITAL
VANCOUVER, Canada – Viscount Mining Corp. (TSX-V: VML) (“Viscount” or “the Company”), a mineral resource exploration company with a portfolio of past producing gold and silver mines and exploration properties in the Western United States, is pleased to announce that it has engaged San Diego Torrey Hills Capital, Inc. ("Torrey Hills Capital"), a Rancho Santa Fe, California based investor relations firm, to provide market awareness and investor relations services to the Company, subject to TSX Venture Exchange acceptance.
Torrey Hills Capital is a leading investor and financial public relations firm specializing in small and micro-cap companies. Torrey Hills Capital will increase awareness about Viscount through its
established relationships with investment professionals, investment advisors, and money managers focused on the microcap market space.
This will allow the Company to build and maintain an informed investor audience in both the U.S. and Canadian marketplaces. Torrey Hills Capital has been engaged for an initial term of six months at a monthly fee of US $4,000, which may be renewed at the Company’s discretion. In addition, Viscount has agreed to a one-time grant of 200,000 incentive stock options exercisable at a price of $0.22 per share for a period of three years.
Such options will vest in four equal quarterly tranches over a period of 12 months from the date of grant and shall be subject to the terms of the Company's stock option plan and the policies of the TSX Venture Exchange.
Torrey Hills Capital currently has no direct or indirect interest in the securities of Viscount, or any right or intent to acquire such an interest except pursuant to the exercise of the above referenced Options. The appointment of Torrey Hills Capital as an investor relations consultant of Viscount and the granting of the Options remain subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.
About Torrey Hills Capital
Torrey Hills Capital was formed in 1998 and is headquartered in Rancho Santa Fe, California. The team of professionals offers experience and expertise in investor relations, corporate communications, non-deal road shows, and market support activities. Torrey Hills Capital specializes in the development and marketing of emerging growth companies which trade in the United States (NYSE, AMEX, and OTC) and in Canada (TSX, TSX-V, and CSE). Marketing activities articulate key investment attributes, strategic direction, and financial expectations, which combine to ensure that client market value fully reflects past achievements and future opportunities. Further information is available at www.torreyhillscapital.com
About Viscount Mining (TSX-V: VML)
Viscount Mining is an exploration company with a portfolio of properties in the Western United States including holdings in Nevada comprising more than 9,000 acres, all 100% owned, including more than 20 past producing silver and gold mines. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past producing mineral districts of Silver Cliff and Rosita Hills.
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
Jim MacKenzie,
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
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.
March 2, 2015 PRESS RELEASE
VISCOUNT OPTIONS CHERRY CREEK PROPERTY TO SUMITOMO
VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (“Viscount” or “the Company”), a mineral resource exploration company with a portfolio of past producing gold and silver mines and exploration properties in the Western United States, is pleased to announce it has entered into an exploration earn - in agreement (the “Agreement”) with Summit Mining Exploration Inc. (“Summit”), a US subsidiary of Sumitomo Corporation. The Agreement covers the Company’s flagship Cherry Creek property located in White Pine County, Nevada.
The Cherry Creek Project (the “Property”) lies within an historic silver district, where high grade silver production came from numerous mines up to the 1920’s. The three largest past producing silver mines on the property were the Exchequer/New Century Mine, Ticup and the Star Mine.
In the third quarter of 2014, Summit funded a preliminary field evaluation of the Cherry Creek property to assess the mineral potential and determine if the project warranted an expanded exploration program.
Viscount had granted Sumitomo Corporation full access to historical data and locations of previously producing mines. Based on the work program by Sumitomo, a total of 325 new claims were acquired by Viscount over the summer to bring the total holdings at Cherry Creek to more than 9,000 acres.
Rangefront Geological Services of Elko, Nevada was contracted by Summit to spot check existing geologic maps, collect soil and rock chip samples, and catalogue the locations of historic prospects,underground mines and surface workings. Samples were submitted to the ALS Global Laboratories for precious metal assay and multi-element analysis.
All new data and several of the historic surface geology maps were loaded to an ArcGIS database. All samples collected remained in the possession of Rangefront Geological Services until delivered to ALS Global Laboratories for preparation and assay. ALS Global Laboratories is a fully accredited laboratory which adheres to the highest industry
standards for quality control and assurances.
The rock chip sampling results reported to the Company by Summit indicate widespread occurrences of anomalous to high grade gold, silver and base metal mineralization thereby validating information cited in historic reports. From the 302 samples collected, assays ranged from below detection to: 21 assayed greater than 1 g gold/t with 7 assaying greater than 10 g gold/t and a high value of 76.9 g gold/t or nearly 2.6 ounces per ton gold. Ninety nine samples assayed higher than 1 ounce per ton silver, with 31 having values greater than 10 ounces per ton and a high value of more than 8,700 g/t or 307 ounces per ton silver. Surface base metal values were also very anomalous: with 3 containing greater than 1% copper and one with 3.4%; 14 lead assays were greater than 1% with a maximum value of more than 20%. Zinc showed 10 sample assays greater than 1% with a high of 14% (see table below for select assays).
A complete table of all assay results can be reviewed on the
Company’s web site www.viscountmining.com
Assay results received from Rangefront’s 2014 sampling also demonstrate the poly-metallic character of Cherry Creek’s mineralization. Many of the highest assay values coincide with the known historic mining trends and the structural interpretations made by Rangefront geologists across the Cherry Creek property. The distribution of mineralized samples throughout the property, and accompanying alteration confirms a broad multi-mineral exploration target.
Mr. Kaare Foy, Chairman of Viscount, stated: “We are very pleased to have entered into an agreement with a company of Sumitomo’s stature and experience, and look forward to a long and mutually beneficial friendship,” Under terms of the agreement Summit shall make an initial payment to the Company of US $500,000.
To maintain the Agreement and to vest its 75% interest in the Property, Summit is required to produce a bankable feasibility study ("BFS") and to have expended a minimum of US$10,000,000 in exploration and development expenses by the eighth anniversary of the effective date of the agreement.
If Summit elects to terminate the Agreement and has expended a minimum of US$10,000,000 and produced a BFS it shall be entitled to a 1.5% net smelter return ("NSR") royalty on the Property's production capped at twice the amount it has expended to the date of termination.
If Summit vests at 75%, then Viscount and Summit will enter into a joint venture agreement which will provide that if a party is reduced to less than 10% then that party's interest shall be converted to a 3% NSR royalty.
If a minority partner in the joint venture votes against commencing mine construction then the minority partner will have a one-time option to cause the majority partner to purchase their interest in the joint venture at a price based on information in the BFS. The agreement is subject to approval from the TSX Venture Exchange and may also require approval
of the shareholders of Viscount.
Technical information in this news release has been approved by Dallas W. Davis, PEng, FEC, an independent consulting geologist and a qualified person as defined in NI 43-101.
About Viscount Mining (TSX-V: VML)
Viscount Mining is an exploration company with a portfolio of properties in the Western United States including holdings in Nevada comprising more than 9,000 acres, all 100% owned, including more than 20 past producing silver and gold mines. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past producing mineral districts of Silver Cliff and Rosita Hills.
About Sumitomo Corporation
Sumitomo Corporation is one of the largest integrated trading and investment companies in Japan. Sumitomo Corporation, a fortune 500 company, conducts commodity transactions in all industries utilizing worldwide networks, provides related customers with various financing, serves as an organizer and a coordinator for various projects, and invests in businesses from the information industry to the retailing industry. Summit Mining Exploration, Inc. is wholly owned subsidiary of
Sumitomo Corporation and is headquartered in Colorado, USA. For more information about Sumitomo Corporation, visit www.sumitomocorp.co.jp/english/.
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
Jim MacKenzie,
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
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
February 3, 2015 VISCOUNT PROVIDES CORPORATE UPDATE
VANCOUVER, Canada – (February 3, 2015) – Viscount Mining Corp. (TSX VENTURE: VML) (“Viscount” or “the Company”) is pleased to provide the following update on the Company's 2014 activities:
The Company is a mineral exploration company, together with its subsidiaries, is engaged in the exploration and development of mineral properties in Cherry Creek, Nevada and Silver Cliff, Colorado.
Viscount's President and Chief Executive Officer,Jim MacKenzie, commented: “As we look forward to a new year of exploration, discoveries and development, I would like to take this opportunity to review the last year and to outline the Company’s plans and goals for 2015. The past year 2014 marked the third year in a row of difficult financial times for the mining and exploration sector.
Sourcing capital for exploration has been a difficult task for our industry. Many companies have not been able to obtain funds and have either shut down completely, been acquired, remain idle or changed their business models out of metals exploration. Viscount has been very fortunate to have been able to finance operations in this market and I
believe that this is due to the strength of our management and the quality of our two projects.”
Recent significant activities reported by the Company are:
- June 17, 2014: Viscount announced it had signed an agreement with Sumitomo Corporation of the Americas ("SCOA") to conduct an exploration program on the Company's flagship property located in Cherry Creek, Nevada.
- July 17, 2014: The Company staked a further 139 claims in strategic areas east and west of the main Cherry Creek claim block and additional fill-in claims within the general claim block area.
- August 13, 2014: The Company entered into an option agreement for the acquisition of a 100% interest in certain mining claims located in the State of Colorado 50 miles west of Pueblo, known as the Silver Cliff Property. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past producing mineral districts of Silver Cliff and Rosita Hills.
- September 2, 2014: The Company added 155 claims in strategic areas east and west of the main Cherry Creek claim block.
- October 9, 2014: Viscount added 33 more claims in strategic areas at the main Cherry Creek Nevada claim block. Based on the work program by SCOA, a total of 327 new claims were staked and acquired by Viscount over the summer to bring the total holdings at Cherry Creek to more than 9,000 acres, all 100% owned, including more than 20 past producing silver and gold mines.
- October 28, 2014: The Company extended the agreement announced June 17, 2014 with Sumitomo Corporation of Americas to conduct an exploration program on the Company's flagship property located in Cherry Creek, Nevada.
- January 5, 2015: Viscount closed a non-brokered private placement for gross proceeds of $1,750,000.
Looking ahead to this year Mr. MacKenzie stated: “The Viscount team is very encouraged by the progress last year at the Cherry Creek property. The Sumitomo 2014 results were sufficiently positive to justify
extension of the exploration agreement (see news release dated October 28, 2014). It is anticipated that they will be conducting extensive mapping, soil and rock chip geochemistry, several types of geophysical
surveys, and, assuming positive results, preliminary drilling to evaluate the best targets.
At the Silver Cliff property, Viscount geologists will conduct mapping, rock chip sampling, metallurgical testing of silver extraction options and will investigate of the general area with the objective of confirming the upside potential on which the decision to acquire the initial 96 lode claims was based. In addition, Viscount will continue to evaluate properties submitted by individuals and companies as well as to apply innovative and ”cutting edge” research to identify hitherto overlooked acquisition opportunities.”
Viscount has, subject to regulatory approval, has retained Venture Liquidity Providers Inc. ("VLP") to initiate its market-making service to provide assistance in maintaining an orderly trading market for the common shares of the Company.
The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd., in compliance with the applicable policies of the TSX Venture Exchange ("TSX-V") and other applicable laws.
For its services, the Company has agreed to pay VLP $5,000 per month for a period of 12 months. The agreement may be terminated at any time by the Company or VLP. The Company and VLP act at arm's length, and VLP has no present interest, directly or indirectly, in the Company or its securities. The finances and the shares required for the market-making service are provided by W.D. Latimer. The fee paid by the Company to VLP is for services only.
VLP is a specialized consulting firm based in Toronto providing a variety of services focused on TSX-V listed issuers. For further information regarding VLP, please email info@vlpinc.net.
Technical information in this news release has been approved by Dallas W. Davis, PEng, FEC, an independent consulting geologist and a qualified person as defined in NI 43-101.
About Viscount Mining (TSX-V: VML)
Viscount Mining Corp. is an exploration company with a portfolio of properties in the Western United States including holdings in Nevada comprising more than 9,000 acres, all 100% owned, including more than 20 past producing silver and gold mines. The Silver Cliff property in Colorado is comprised of 96 lode claims, covering much of the historical past producing mineral districts of Silver Cliff and Rosita Hills.
About W.D. Latimer Co. Limited
W.D. Latimer Co. Limited is one of Toronto's most active broker-dealers. With more than 40 proprietary traders and specialists for the Toronto Stock Exchange, an institutional agency desk and private client services, W.D. Latimer Co. Limited is one of Canada's largest proprietary trading firms. For further information on W.D. Latimer Co. Limited, contact Bill Seaward, venture market making specialist at 416-707-3131 or email bill@wdlatimer.com.
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
Jim MacKenzie,
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
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.
January 5th, 2015
VISCOUNT MINING RAISES $1,750,000 THROUGH PRIVATE PLACEMENT
VANCOUVER, Canada – (January 5, 2015) – Viscount Mining Corp. (TSX VENTURE: VML) (“Viscount” or “the Company) is pleased to announce that it has completed its previously announced private placement financing.
The final tranche consisted of 3,588,333 units for gross proceeds of $538,250. In total the Company has issued 11,666,672 units for
gross proceeds of $1,750,000.
Each Unit consists of one common share of the Company and one common share purchase warrant (a "Warrant"), with each Warrant exercisable into one common share of the Company for a period of 3 years from closing at an exercise price of C$0.25.
In connection with the final tranche, the Company will pay finder’s fees and commissions totaling $11,268.40 in cash, and 75,123 in finder’s warrants, with the warrants having the terms described above. The securities issued are subject to a four month hold period from the date of closing.
The Company also announces that pursuant to the Company's Stock Option Plan on January 2, 2015 it has granted 1,175,000 stock options at a price of $0.20 per common share. The Options were granted to Directors, Officers and Consultants of the Company. The option grant will vest immediately. In accordance with the Company's Stock Option Plan, the options granted are exercisable until January 2, 2020.
Grant of the options is subject to the approval of the TSX Venture Exchange.
About Viscount Mining (TSX-V: VML)
Viscount Mining is an exploration company with a portfolio of properties in the Western United States with holdings in Nevada comprising more than 9,000 acres, all 100% owned, including more than 20 past producing silver and gold mines. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past producing mineral districts of Silver Cliff and Rosita Hills.
ON BEHALF OF THE BOARD OF DIRECTORS
Jim MacKenzie,
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
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.
Dec 24, 2014 MD&A Excerpt for Yr. Ended August 31, 2014
VISCOUNT MINING CORP. (Formerly FAITH SPRING VENTURE INC.)
MANAGEMENT DISCUSSION AND ANALYSIS FOR THE YEAR ENDED AUGUST 31, 2014
December 24, 2014 Excerpts from the MD&A for Yr Ended August 31, 2014
Overall Performance
The Company is a mineral exploration company incorporated under the laws of British Columbia, Canada and, together with its subsidiaries, is engaged in the exploration and development of mineral properties in Cherry Creek, Nevada and Silver Cliff, Colorado. After having secured funding late in 2010, the Company, during 2012, escalated exploration and evaluation activity. The Company focused its efforts on a program designed to understand previously disclosed historical resource estimates, as described in the latest National Instrument 43-101 compliant Technical Report dated May 20, 2013, and currently on file at SEDAR.
Recent significant activities reported by the Company are:
• Between November 24, and December 1, 2014 the Company closed the first two tranches of its non brokered private placement and issued a total of 8,078,339 units for gross proceeds of $1,211,760. Each Unit consists of one common share of the Company and one common share purchase warrant (a "Warrant"),with each Warrant exercisable into one common share of the Company for a period of 3 years from closing at an exercise price of C$0.25.
• On October 28, 2014 the Company accepted the resignation of Andrew McCreath from the Board of directors and thanked him for his contributions during his tenure as a Director of Viscount and look forward to a continued friendship.
• On October 28, 2014 the Company extended the agreement announced June 17, 2014 with Sumitomo Corporation of Americas to conduct an exploration program on the Company's flagship property located in Cherry Creek, Nevada.
• On October 9, 2014 added 33 more claims in strategic areas at the main Cherry Creek Nevada claim block. Based on the work program by SCOA, a total of 327 new claims were staked and acquired by Viscount over the summer to bring the total holdings at Cherry Creek to more than 9,000 acres, all 100% owned, including more than 20 past producing silver and gold mines.
• On September 2, 2014 the Company added 155 claims in strategic areas east and west of the main Cherry Creek claim block.
• On August 13, 2014 the Company entered into an option agreement for the acquisition of a 100% interest in certain mining claims located in the State of Colorado 50 miles west of Pueblo, known as the Silver Cliff Property. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past producing mineral districts of Silver Cliff and Rosita Hills.
• On July 17, 2014 the Company staked a further 139 claims in strategic areas east and west of the main Cherry Creek claim block and additional fill-in claims within the general claim block area.
• On June 19, 2014 the Company closed a private placement for shares offered at $0.20 per share. A total of 1,250,000 shares were issued for an aggregate value of $250,000.
• On June 17, 2014 the Company announced it had signed an agreement with Sumitomo Corporation of Americas ("SCOA") to conduct an exploration program on the Company's flagship property located in Cherry Creek, Nevada.
• On May 26, 2014, the Company has entered a letter of intent (LOI) to conclude a lease to purchase agreement for a 96-claim property known as Silver Cliff located in Custer county, Colorado.
• On April 17, 2014, the TSX Venture Exchange suspended trading in the Company's securities as a result of a cease trade order (CTO) issued by the British Columbia Securities Commission (BCSC). The Company addressed the issues and received notification from the BCSC rescinding the CTO on May 12, 2014, and resumed trading on May 16, 2014.
• On April 2, 2014, the Company clarified certain statements and assertions made in the news release dated March 31, 2014, namely that the Tognoni report was referenced in an earlier Company news release dated November 18, 2013, clarified that Tognoni’s 46 samples should have been identified as 3 grab samples and retracted a statement attributed to Dr. Lahti, Company VP Exploration, that implied silver and gold reserve potential that is not supported by the Technical Report dated May 20, 2013.
• On March 31, 2014, the Company announced having located a report authored by Michael Tognoni in 1985 and titled “Ticup-Fillmore and Star Mines, Cherry Creek Mining District, White Pine County, Nevada”. In the Company news release, it was stated to contain “previously unknown facts regarding its wholly-owned lands in Nevada”. Subsequently, the Company has become aware that the Tognoni report had been disclosed as a reference, although not discussed, in the Technical Report of May 20, 2013.
• On January 16, 2014, the Company appointed Matt Hughes to the Board of Directors replacing Jeremy Caddy.
• On March 17, 2013, the Company announced that it has commissioned Oliver GeoServices LLC of Colleyville, Texas, to develop a 3D GIS model of historic deposits at the Cherry Creek Prospect with the goal to both inventory past production and to gain a more detailed understanding of the three dimensional geometry of the various vein systems.
1. Disclosure of Technical Information on Mineral Projects References in this MD&A to mineral resources are pursuant to the requirements of National Instrument 43-101, Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators (“NI 43-101”).
Technical aspects of this MD&A were reviewed by Dallas W. Davis, P.Eng, FEC, a consulting geologist who is a life member of the Association of Professional Engineers and Geoscientists of New Brunswick, is independent of the Company and is a Qualified Person, both as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
2. Company Overview
The Company was incorporated under the British Columbia Business Corporations Act on October 26, 2011 and was classified as a Capital Pool Company as defined in Policy 2.4 of the TSX Venture Exchange (“TSXV”).
On July 23, 2013, the Company completed a share exchange (the "Share Exchange") with Viscount Mining Resources Ltd. ("Viscount") and all of the shareholders of Viscount. Concurrently with the Share Exchange, the Company also changed its name to Viscount Mining Corp. and completed a consolidation of its common shares on the basis of one post-consolidation share for every two pre-consolidation shares. For accounting purposes the transaction described above has been treated as a Reverse Takeover (RTO) and the accounting records of Viscount are reported prior to July 23, 2013, the date of the share exchange.
The Company’s registered office is located at Suite 400-570 Granville Street, Vancouver, BC, V6C 3P1. The Company is an exploration company with a portfolio of properties in the Western United States including holdings in Nevada comprising more than 9,000 acres, all 100% owned, including more than 20 past producing silver and gold mines. The Silver Cliff property in Colorado is comprised of 96 lode claims, covering much of the historical past producing mineral districts of Silver Cliff and Rosita Hills.
3. Directors & Management
Mr. James MacKenzie Director, President, Chief Executive Officer
Mr. Kaare Foy Director, Chairman of the Board
Mr. William MacDonald Director
Mr. Andrew Gertler Director
Mr. Matthew Hughes Director
Mr. Derick Sinclair, CA Chief Financial Officer, Corporate Secretary
4. Exploration and Evaluation Properties
NEVADA properties
A. Cherry Creek 1 Property
On March 31, 2011, the Company entered into a Mining Lease and Agreement to Purchase for certain patented and unpatented mining claims located in White Pine Country, Nevada (the “Cherry Creek 1 Property”). On March 13, 2013, April 19, 2013, May 21, 2013, and June 2014 the agreement was amended. Under the terms of the amended agreement, the Company is to make lease payments totaling US$551,500 as follows (Note 10):
i. US$10,000 within 15 days of signing of the agreement (paid);
ii. US$10,000 on or before March 31, 2012 (paid);
iii. US$75,000 and issue 375,000 common shares at a deemed price per share of $0.20 for a total value of $75,000 on or before March 31, 2013 (paid and issued);
iv. US$181,500 on or before October 1, 2014 (paid on December 2, 2014); and
v. US$200,000 on or before March 31, 2015.
Upon payment of cumulative lease payments of US$551,500, the owner will transfer title to the Cherry Creek 1 Property to the Company. The Company will pay the owner a Net Smelter Royalty “NSR”) of 1.5% of net
smelter proceeds.
On March 31, 2011, the Company granted a NSR of 1% to Kingsmere Mining Ltd. in recognition of their efforts in the acquisition of the Cherry Creek 1 Property.
For more info from this MD&A go to www.sedar.com and look up Viscount Mining
PRESS RELEASE OCTOBER 28, 2014
VISCOUNT EXTENDS EXPLORATION AGREEMENT WITH SUMITOMO
VANCOUVER, Canada –- Viscount Mining Corp. (TSX-V: VML) (“Viscount” or “the Company”), a mineral resource exploration company with a portfolio of past producing gold and silver mines and exploration properties in the Western United States, is pleased to announce it has extended an agreement announced June 17, 2014 with Sumitomo Corporation of Americas (“SCOA”) to conduct an exploration program on the Company’s flagship property located in Cherry Creek, Nevada.
The Cherry Creek Property lies within an historic silver district, where high grade silver production came from numerous mines up to the 1920’s. This land holding includes the three largest past producing silver mines on the property – the Exchequer/New Century Mine, Ticup and the Star Mine.
The summer program by SCOA consisted of intensive field sampling and reconnaissance mapping on the Property. Viscount granted SCOA full access to historical data and locations of previously producing mines. Based on the work program by SCOA, a total of 325 new claims were staked and acquired by Viscount over the summer to bring the total holdings at Cherry Creek to more than 9,000 acres.
Mr. Kaare Foy, Chairman of Viscount, comments: “We are very pleased to have this opportunity to work with SCOA towards entering into a multi year exploration program at our Cherry Creek project. They are a world class organization and we look forward to working with them to advance the Property”.
Viscount announces the resignation of Mr. Andrew McCreath from the Board of Directors. Mr. Foy said: “On behalf of the Board, we appreciate Andy’s continued friendship and thank him for his contributions during his tenure as a Director of Viscount”. Technical information in this news release has been approved by Dallas W. Davis, PEng, FEC, an independent consulting geologist and a qualified person as defined in NI 43-101.
About Viscount Mining (TSX-V: VML)
Viscount Mining is an exploration company with a portfolio of properties in the Western United States including holdings in Nevada comprising more than 9,000 acres, all 100% owned, including more than 20 past producing silver and gold mines. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past producing mineral districts of Silver Cliff and Rosita Hills.
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
Jim MacKenzie,
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
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. 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 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.
PRESS RELEASE OCTOBER 9, 2014
VISCOUNT MINING ADDS FURTHER STRATEGIC CLAIMS AT CHERRY CREEK
VANCOUVER, Canada – (October 9, 2014)
– Viscount Mining Corp. (TSX VENTURE: VML) (“Viscount” or “the Company”), a mineral resource exploration company with exploration properties in Nevada and Colorado is pleased to announce they have added 33 more claims in strategic areas at the main Cherry Creek Nevada claim block.
Mr. Jim MacKenzie, CEO of Viscount, noted “With the conclusion of the most recent work program of mapping and sampling on the Cherry Creek claim block by Sumitomo Corporation of Americas it was determined that an extra 33 claims in addition to the 294 claims added as per press releases on July 17 and September 2, 2014 be staked to further define the ground necessary to cover what the geologist’s consider to be additional prospective ground. Once all of the summer field work results are evaluated Viscount will make an announcement as to what the future work program will consist of.”
Technical information in this news release has been approved by Dallas W. Davis, PEng, FEC, an independent consulting geologist and a qualified person as defined in NI 43-101.
About Viscount Mining (TSX-V: VML)
Viscount Mining is an exploration company with a portfolio of properties in the Western United States including holdings in Nevada comprising more than 9000 acres, all 100% owned, including more than 20 past producing silver and gold mines. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past producing mineral districts of Silver Cliff and Rosita Hills. 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
Jim MacKenzie,
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
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.
September 24, 2014 Press Release
Viscount Mining Announces Non-Brokered Private Placement
Vancouver, BC-– September 24, 2014--Viscount Mining Corp. (TSX VENTURE: VML) (“Viscount” or the "Company”) is pleased to announce that it intends to carry out, subject to approval from the TSX Venture Exchange (the "Exchange"), a non-brokered private placement of units at a price of $0.20 per unit, for gross proceeds of up to $2,000,000 (the "Private Placement"). Each unit will consist of one common share of Viscount and one common share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder thereof to purchase one additional common share at a price of $0.30 per share for a period of 36 months.
A Finder's fee of cash and/or warrants may become payable in connection with this private placement. Net proceeds from the financing will be used to for working capital and to advance the Company's mineral properties.
About Viscount Mining (TSX-V: VML)
Viscount Mining is an exploration company with a portfolio of properties in the Western United States including holdings in Nevada comprising more than 8600 acres, 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
Jim MacKenzie, For further information, please contact:
President, CEO and Director Viscount Investor Relations
Viscount Mining Corp. Email: info@viscountmining.com
Phone: 604-960-0535
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.
This press release contains forward-looking statements or information (collectively referred to herein as "forward-looking statements") relating to the closing of the Private Placement. 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 and are not guarantees of future performance of the Company. 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 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 and business conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with mineral exploration, development and production, (3) the price of and demand for minerals and their effect on the economics of mineral exploration, (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 labour 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, (8) the Silver Cliff Property option agreement may not be completed for a number of reasons including possible failure to receive the approval of the TSX Venture Exchange, and (9) other factors beyond the Company’s control. Should one or more of these risks or uncertainties materialize, or should any of the Company's assumptions prove incorrect, actual results may vary in material respects from those projected in the forward-looking statements.
Readers are cautioned that the foregoing list of risks, uncertainties and other factors is not exhaustive. Unpredictable or unknown factors not discussed could also have material adverse effects on forward looking statements. The impact of any one factor on a particular forward-looking statement is not determinable with certainty as such factors are dependent on other factors, and the Company's course of action would depend on its assessment of the future considering all information then available. All forward-looking statements in this press release are expressly qualified in their entirety by these cautionary statements. Except as required by law, the Company assumes no
obligation to update forward-looking statements should circumstances or management’s estimates or opinions change.
PRESS RELEASE:
VISCOUNT MINING ADDS ADDITIONAL STRATEGIC CLAIMS AT CHERRY CREEK
VANCOUVER, Canada – (September 2, 2014)
– Viscount Mining Corp. (TSX VENTURE: VML) (“Viscount” or “the Company”), a mineral resource exploration company with exploration properties in Nevada and Colorado is pleased to announce they have added 155 claims in strategic areas east and west of the main Cherry Creek claim block. This is in addition to the 139 claims added as per the press release on July 17, 2014.
Mr. Jim MacKenzie, CEO of Viscount, noted “Based on our summer work program we have significantly added to enhance and protect targeted areas currently being evaluated. These claims may contain further silver-gold base metal veins similar to those mined by the larger past producers at Cherry Creek. Viscount continues to conduct extensive mapping and sampling to locate target areas requiring further exploration with diamond and reverse circulation drilling.”
Technical information in this news release has been approved by Dallas W. Davis, PEng, FEC, an independent consulting geologist and a qualified person as defined in NI 43-101. The Company is pleased to announce the results of its annual meeting of shareholders (“AGM”) held August 22, 2014 in Vancouver BC.
All the nominee directors listed in the Viscount AGM information circular were elected as directors. The number of Directors is now set at 6 from 7 in in the past year, with the Directors for the ensuing year being: Jim MacKenzie, William Macdonald, Kaare Foy, Andrew Gertler, Matthew J. Hughes, and Andrew McCreath.
At the AGM, shareholders also voted in favor of:
Appointing James Stafford, Chartered Accountants as the auditors for the ensuing year and authorizing the directors to fix their remuneration; and approved the Company’s 10% rolling stock option plan.
About Viscount Mining (TSX-V: VML)
Viscount Mining is an exploration company with a portfolio of properties in the Western United States including holdings in Nevada comprising more than 8600 acres, 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
Jim MacKenzie,
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
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.
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