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Viscount Mining Corp

Viscount Mining increases footprint at Silver Cliff project with new claims

The group is currently planning a drill programme at Silver Cliff to expand the indicated and inferred mineral resource

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The Silver Cliff project now encompasses 2,319.48 acres.

Explorer Viscount Mining Corp (CVE:VML) has increased its footprint at the Silver Cliff silver project in Colorado with a further 22.5 acres.

The group is currently planning a drill programme at Silver Cliff to expand the indicated and inferred mineral resource of around 12.7mln ounces of silver announced in May this year.

The additional 22.5 acres of patented claims are in the Hardscrabble district and bridge the continuity and access to the Kate extension, which is a highly prospective mineral tenure contiguous with the Silver Cliff claim block itself, the company said.

Bigger land package

This acquisition increases the overall Silver Cliff land package to 2,319.48 acres.

"The acquisition of this claim block is likely to contribute to the expansion of the Kate deposit. These additional claims will greatly aid in the development of additional targets," said Mark Abrams, director and geologist at Viscount.

The terms of the acquisition include claim payments and a 1.5% net smelter return (NSR) royalty.

Viscount reminded investors that the next phase of drilling will continue to confirm the historical data reported by Tenneco in order to expand the current resource.

Between 1987 and 1990, Tenneco Minerals completed a feasibility study after an intensive drilling campaign and announced plans to construct a C$35mln mill at Silver Cliff but the decision was reversed in 1991.

Quick facts: Viscount Mining Corp

Price: $0.20

Market: TSX-V
Market Cap: $10.77 m
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