Results From Phase 3 Field Survey At Silver Cliff Property


VANCOUVER - Viscount Mining Corp. has received results from its third phase of the rock chip program at their Silver Cliff property in Colorado. The highlights include: 1) 28 samples assaying over 100 g/t silver. 2) 18 samples assaying over 200 g/t silver. 3) 4 samples assaying over 550 g/t silver including 1330 g/t and 737 g/t in the northern Kate area and 692 g/t and 560 g/t in the south Passiflora area.

Phase 3 of the drill program consisting of 13 holes over 881 meters has recently concluded and all of the core samples have been shipped and are currently being assayed. As a supplemental part of Viscount's phase 3 drilling program, 50 surface rock chip samples were collected around the Kate Deposit, Passiflora and surrounding areas. Most of these samples were gathered from century-year-old, shallow mining pits which are found scattered throughout the Silver Cliff region.

Twenty eight (28) of these rock chip samples collected at the surface tested over 100 g/t silver, with the highest testing sample assayed 1330 g/t silver. The presence of such high-grade silver deposits being revealed at the surface by shallow, abandoned pits, shows high promise for an eventual open pit mine. Many of these higher testing samples were collected from two locations: the southwest Passiflora and the northern area of the Kate Deposit and extension.

In the southwest Passiflora area, concentrations of silver in collected rock chip samples ranged from 122 G/T to 692 G/T. Though Viscount has done less extensive drilling in the Passiflora, most of the promising mineralization and assay values have come from holes drilled in this southwest region (DDH-20-05 and DDH-21-10). Two of the holes drilled during phase 3 were also located in this area and are currently being assayed. An internal report from CoCa Mines in 1983, estimated a potential resource of 40 million short tons, based on 14 drill holes (not NI 43-101 compliant), with the best intercept reporting to be 256 g/t silver and 1.4 g/t gold. Viscount drilled four holes in the Passiflora in 2020/21 to depths greater than 193 m that showed anomalous silver throughout all, some anomalous gold as well as strong silica and clay alteration and pyritization over most of the holes. Duval Mining geologists had identified a quartz monzonite at shallow depth in the vicinity of the Passiflora mine. Quartz monzonite is a rock that is also commonly associated with porphyry ore bodies. The additional holes at the Passiflora are aimed at identifying this structure.

In the northern area of the Kate Deposit, 15 surface rock chip samples assayed between 71 and 1330 g/t silver, well above the current economic cut-off grade. Seven (7) of these high-grade rock chip samples, including the two highest testing (737 and 1330 G/T), on land outside of the current extent of the ore body as defined by Dr. Gilles Arseneau in 2018. The report titled Mineral Resource Estimate for the Silver Cliff Property, Custer County, Colorado, USA dated April 15, 2018 was prepared by Dr. Gilles Arseneau, Ph.D., P. Geo of Arseneau Consulting Services (ACS) in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") Definition Standards incorporated by reference in National Instrument 43-101 (NI 43-101) for its Silver Cliff property in Colorado.

These results support a possible expansion of the ore body, specifically near the surface, both to the West and Northeast. These are areas that were drilled during the third phase. As we await the core results, this collection of surface rock chip results gives us some insight into the silver resource expansion as defined by Dr. Gilles Arseneau in 2018 and for the Phase 4 drill program preparation.

Jacob Hooker, Exploration Manager, said, "The completion of Phase 3 drilling was designed to test outside the boundaries of the Kate Deposit. Upon receipt of the drill results in correlation with the soil samples, the final phase 4 of drilling will be designed to further the understanding of the Kate deposit. The goal of expanding our NI 43-101 resource is meeting and surpassing company expectations."