Viscount Completes Final Payments Covering 20 Previously Producing Mines at Cherry Creek Project, Nevada
VANCOUVER, BC / ACCESSWIRE / May 13, 2015 / Viscount Mining Corp. (TSX-V: VML) ("Viscount" or the "Company"), a mineral resource exploration company with a portfolio of past producing gold and silver mines and exploration properties in the western United States, is pleased to announce it has spent $1,400,000 to date on the property in the Cherry Creek Mining District, White Pine County, Nevada including the final payment on the 20 previously producing mines.
The original Cherry Creek Project (the "Property") lies within an historic silver district, where high grade silver production came from numerous mines up to the 1920's. These land holdings include the three largest past producing silver mines in the district - the Exchequer-New Century Mine, Ticup Mine and the Star Mine. This area makes up of 2,600 acres including all 20 past producers on patented land.
This project can now be included as belonging to the recently established "Pequop" or Long Canyon mineral belt. Cherry Creek is located on trend and shares the same geologic characteristics with Newmont's Long Canyon Deposit which boasts a 1.2 plus million ounces gold resource that should produce an estimated 100,000 to 150,000 ounces of gold per year ("Source: Newmont Mining Corp. ( NYSE: NEM ) Press Release April 8th, 2015"). Geologically the elements that are shared with Long Canyon include stratigraphy from the same formations, specifically calcareous units that lend themselves to mineralized replacement and structurally controlled high grade precious metal mineralization.
Jim MacKenzie, President & CEO stated "We are pleased to have completed the final purchase of the original Cherry Creek land package, making Viscount 100% owners. This is the first time in over a century that these 20 previously producing mines are now owned by one single entity. Viscount remains in strong financial position without any debt."
After signing an exploration earn-in agreement with Sumitomo Corporation and its wholly owned US subsidiary Summit Mining Exploration II Inc.("Summit"), Viscount is gearing up for a full 2015 exploration campaign with Summit as operators on the Company's Cherry Creek property
For additional information regarding the above noted property and other corporate information, please visit the Company's website at www.viscountmining.com
About Viscount Mining (TSX-V: VML)
Viscount Mining is an exploration company with a portfolio of properties in the Western United States including holdings in Nevada comprising more than 9,000 acres, all 100% owned, including more than 20 past producing silver and gold mines. Silver Cliff in Colorado is comprised of 96 lode claims, covering much of the historical past producing mineral districts of Silver Cliff and Rosita Hills.
ON BEHALF OF THE BOARD OF DIRECTORS
"Jim MacKenzie"
President, CEO and Director
For further information, please contact:
Viscount Investor Relations
Phone: 604-960-0535
Email: info@viscountmining.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking statements" under applicable securities legislation. All statements in this release, other than statements of historical fact, that address events or developments that Viscount expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicate" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the risks that the transaction as described in the Agreement may not be completed for any reason whatsoever, including that the shareholder, court and/or regulators may not approve the transaction and the parties may be unable to realize on the anticipated benefits of the transaction. Although Viscount believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements. In addition to other factors and assumptions which may be identified in this news release, assumptions have been made regarding and are implicit in, among other things, the timely receipt of any required regulatory approvals (including court and shareholder approvals). Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which have been used. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties which could cause actual results to differ materially from those anticipated by Viscount and described in the forward-looking statements. The forward-looking statements contained in this news release are made as of the date hereof and Viscount undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable securities laws. The forward looking statements contained in this press release are expressly qualified by this cautionary statement.
SOURCE: Viscount Mining Corp.
