Oct 15 2015
Viscount Mining Corp., is pleased to confirm that Phase 1 drilling has commenced at its flagship Cherry Creek Nevada Property, which is currently being managed and funded by Summit Mining Exploration Inc., a wholly-owned US subsidiary of Sumitomo Corporation, 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 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. 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 3,000,000 ounces of silver with some grades exceeding 3500 ounces (oz)/tonne (t) 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 US 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, NV. Assay results will be released as they become available from ALS Labs Limited. The drill program will comprise approximately 10 to 12 holes totaling 10,000 feet (3,050 m). The reverse circulation (or "RC") drilling has started and the first hole is targeting the high grade silver (+/- 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 CEO 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").
Source: http://www.viscountmining.com/