Viscount Mining Corp (TSX-V:VML, OTCQB:VLMGF) has announced the signing of an agreement to acquire the Mary Anne group of patented claims located adjacent to the 100%-controlled Cherry Creek Project in eastern White Pine County, Nevada.
The company said the agreement, which was signed along with its partner, a wholly owned subsidiary of Centerra Gold Inc, was struck with Reno, Nevada-based Southwest Land and Minerals Corp.
The property comprises 24 patented claims commonly known as the Mary Anne claim group. The claims overlie the historic Mary Anne mine, which has unknown previous production, Viscount added.
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“These additional patented claims are an important addition to our district play at Cherry Creek,” Viscount vice president of exploration Mark Abrams said in a statement. “Non-compliant historic sampling suggests mineralization may extend from the mined veins into the quartz monzonite wall rock.”
Viscount noted that the mines were principally base metal sulfide plus silver/gold producers. Ore was developed on a mineralized quartz vein system at or near the contact between the Prospect Mountain Quartzite and the Cherry Creek Quartz Monzonite. The vein system is dominated by silver mineralization accompanied by values in copper, lead and gold. There are no current estimates of remaining reserve potential, it added.
“This presents the potential for bulk tonnage mineralization in addition to vein targets in the area of the historic mines,” Abrams said. “The property history is quite unique in that both Presidents Roosevelt and Taft signed the patent documents for some of the claims.”
Management and board changes
Viscount also announced the appointment of Scott Davis as its new chief financial officer, noting that Davis is a partner of Vancouver-based Cross Davis & Company LLP Chartered Professional Accountants.
It said Cross Davis & Company is focused on providing accounting and management services for publicly-listed companies, adding that Davis has extensive accounting and finance experience dealing with the complexities of both private and public corporations in a variety of industries.
Derick Sinclair, Viscount's CFO since inception is retiring but will take an advisory role position with the company, Viscount said.
"The Board of Viscount would like to thank Derick for his valuable contribution to the company and we wish him well in his retirement,” Viscount CEO Jim MacKenzie said. “We also welcome Scott to our management team and look forward to working with him.”
Meanwhile, the company said William MacDonald is stepping down from its board of directors but will continue as a member of Viscount's advisory board.
Viscount Mining is a project generator and explorer with a portfolio of silver and gold properties in the Western United States, including Silver Cliff in Colorado and Cherry Creek in Nevada.
Contact the author at stephen.gunnion@proactiveinvestors.com