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Viscount Mining Corp.

Viscount Mining begins gold drilling in test at Cherry Creek project in Nevada

The program will be results-driven and expanded as needed based on visual inspection of samples, according to the company

Gold bars and US$100 bills
Viscount has started a two- to four-hole reverse-circulation drill program for an initial test of the Star and Exchequer vein systems

Viscount Mining Corp (CVE:VML) (OTCMKTS:VLMGF) said it has begun drilling for gold at the company’s Cherry Creek property in Nevada.

The Vancouver-based company said in a press release Thursday that it has started a two- to four-hole reverse-circulation drill program of 610 to 1,464 meters for an initial test of the Star and Exchequer vein systems.

READ: Viscount Mining’s US gold and silver assets offer huge potential upside

Viscount added that the program will be results-driven and expanded as needed based on visual inspection of samples.

“The distribution of mineralized samples throughout the prospect, and accompanying alteration, suggests good potential for significant metal accumulations," Viscount geologist Mark Abrams said in a statement.

Kaare Foy, the company’s chairman, said that the Star mine indicated “parallels” with the Long Canyon mine to the north, which Newmont Mining Corp (NYSE:NEM) purchased for US$2.3 billion in 2011. But he added that the mineralization of the Long Canyon Mine is not necessarily indicative of the Cherry Creek property.

Viscount is currently in the final planning stages for a winter drill program at Silver Cliff in Colorado. Last February, the company reported expanding that operation.

Shares of Viscount traded at C$0.18 in Thursday’s Canadian trading. They slipped US$0.02 to US$0.14 on the OTC market.

 

Contact Dennis Fitzgerald at [email protected]

 

Quick facts: Viscount Mining Corp.

Price: $0.24

Market: TSX-V
Market Cap: $12.65 m
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