Vendetta Files NI 43-101 Pegmont Updated Mineral Resource Estimate June 2017 - Drilling Update
Vancouver, British Columbia--(Newsfile Corp. - August 9, 2017) - Vendetta Mining Corp. (TSXV: VTT) announce the filing of the National Instrument 43-101 (NI 43-101) Technical Report on the updated Mineral Resource estimate of the Pegmont Lead-Zinc project, in Queensland Australia, to support the Mineral Resource estimate announced by Vendetta on June 27th, 2017.
The independent NI 43-101 technical report for the updated Pegmont Mineral Resource was prepared for Vendetta by leading independent mining consultants AMC Mining Consultants (Canada) Limited. The report titled Pegmont Resource Update June 2017 has been filed on the SEDAR website at www.sedar.com and will be placed on Vendetta's web site www.vendettaminingcorp.com. The technical report has an effective date of 22nd June 2017 and includes drilling and other technical data to 8th May 2017.
Drilling Update
Development drilling continues at the Pegmont with two drills, one currently drilling in Zone 5 and the other in Zones 2-3.
Processing, logging and sampling of the core is ongoing. Initial results from the program were released on July 25th, 2017, see Vendetta's News Release VTT2017-NR#7 for details. The next batch of assays are expected shortly and will be released as soon as the Company has processed and incorporated the results into the geological models.
Follow up drilling on the new Copper target will commence shortly. The Copper target was identified at the end of the 2016 program with exploration hole PVR040 intersecting 3.0 metres of 3.21% Cu and 0.57 g/t Au, see Vendetta News Release VTT2016 - # 8, October 19th 2016. In early 2017 a ground geophysical EM survey was conducted to determine the possible strike and dip, this resulted in a steeply dipping linear conductor of over 800 m being identified, details of the EM survey can be found in Vendetta's News Release VTT2017- #5, May 4th 2017.
About The Pegmont Lead Zinc Project
Pegmont is a stratiform, Broken Hill-Type deposit that outcrops with an overall shallow dip to the south east and is hosted in a magnetite-rich banded iron formation within high grade metamorphic rocks. The project consists of three granted mining leases and two exploration permits that cover an area of approximately 3,468 ha.
Pegmont is situated in the Mount Isa - McArthur Mineral Province, which hosts one of the world's richest endowments of lead-zinc-silver mineralization, including several world-class lead-zinc-silver mines.
Pegmont is located 25 km west of South 32's Cannington silver-lead-zinc operation, one of the world's largest producers of lead and silver and 28 km north of Chinova Resources' Osborne copper-gold operations. Pegmont is proximal to existing infrastructure including public roads, mine haul roads, rail, and a natural gas pipe line for power generation.
In June 2017 Vendetta updated the Mineral Resource estimate for Pegmont, for full details please see Vendetta's news release, VTT2017-NR#6, June 27th, 2017.
About Vendetta Mining Corp.
Vendetta Mining Corp. is a Canadian junior exploration company engaged in acquiring, exploring, and developing mineral properties with an emphasis on lead and zinc. It is currently focused on advanced stage exploration projects in Australia, the first of which is the Pegmont Lead Zinc project. Additional information on the Company can be found at www.vendettaminingcorp.com
Qualified Person
Peter Voulgaris, MAusIMM, MAIG, a Director of Vendetta, is a non-independent qualified person as defined by NI 43-101. Mr. Voulgaris has reviewed the technical content of this press release, and consents to the information provided in the form and context in which it appears.
ON BEHALF OF THE BOARD OF DIRECTORS
"Michael Williams"
Michael Williams
President & CEO
(604) 484-7855
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Certain statements within this news release, other than statements of historical fact relating to Vendetta Mining Corp., are to be considered forward-looking statements with respect to the Company's intentions for its Pegmont project in Queensland, Australia. Forward-looking statements include statements that are predictive in nature, are reliant on future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "considers", "significant", "intends", "targets", "estimates", "seeks", attempts", "assumes", and other similar expressions.
The forward-looking statements are based on a number of assumptions which, while considered reasonable by Vendetta Mining Corp., are, by their nature, subject to inherent risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those in forward-looking statements include: the interpretation of current results from the 2016 drilling program mentioned in this news release, further results from the 2016 drilling program, the accuracy of exploration results, the accuracy of Mineral Resource Estimates, the anticipated results of future exploration, the forgoing ability to finance further exploration, delays in the completion of exploration, delays in the completion of the updated Mineral Resource Estimate, the future prices of lead, zinc, and other metals, and general economic, market and/or business conditions. There can be no assurances that such statements and assumptions will prove accurate and, therefore, readers of this news release are advised to rely on their own evaluation of the information contained within. In addition to the assumptions herein, these assumptions include the assumptions described in Vendetta Mining Corp.'s Management's Discussion and Analysis for the nine months ended, February 29th, 2017.
Although Vendetta Mining Corp. has attempted to identify important risks, uncertainties and other factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those expressed in or implied by the forward-looking statements, there may be other risks, uncertainties and other factors that cause future performance to differ from what is anticipated, estimated or intended. Unless otherwise indicated, forward-looking statements contained herein are as of the date hereof and Vendetta Mining Corp. does not assume any obligation to update any forward-looking statements after the date on which such statements were made, except as required by applicable law.