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Vendetta Announces High Grade Intersections in Zones 2 and 3 at the Pegmont Lead-Zinc Project

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Vendetta Announces High Grade Intersections in Zones 2 and 3 at the Pegmont Lead-Zinc Project

 

 

 

 

 

Vendetta Mining Corp. (TSX-V: VTT) is pleased to announce the final results from the completed 2017 program at the Pegmont Lead-Zinc Project in Queensland, Australia. These results are from drilling in Zones 2, 3 and the connecting Z Fold.

 

 

Zones 2, 3 and Z Fold Sulphide Highlights:

 

PVRD124:  7.32 metres of 11.12% Pb+Zn (8.00% Pb, 3.12% Zn);

PVRD137:  4.48 metres of 12.28% Pb+Zn (8.34% Pb, 3.94% Zn);

PVRD154:  15.92 metres of 12.12% Pb+Zn (9.07% Pb, 3.04% Zn); and

PVRD156:  36.61 metres of 12.99% Pb+Zn (9.48% Pb, 3.51% Zn);

 

 

Zone 2 Transition Highlights:

 

PVRD161:  5.83 metres of 10.44% Pb+Zn (6.21% Pb, 4.23% Zn)

 

 

A full summary of the sulphide and transition lead-zinc results including estimated true widths are provided in Table 1 and the location of the holes is shown on the map in Figure 1.

 

 

Michael Williams, Vendetta’s President and CEO commented, “These final results conclude a highly successful 2017 program. In the upcoming mineral resource update we expect to upgrade a significant portion of the mineral resource within the open pit shells and we will include the recently discovered high grade Bridge Zone.”

 

 

Zone 2 Sulphide Drilling

 

 

Zone 2 is a flat to moderately dipping area, located between 50 and 100 m from surface, with a known strike length of 2 km.

 

 

A new fold structure was intersected in hole PVRD137, as with other such folds at Pegmont it was associated with increased grades. Preliminary structural modelling suggest that this fold should develop to the south-west, further drilling is required to develop this opportunity further.

 

 

The 2017 Zone 2 drilling was designed within the optimised pit shell to expand the mineralisation and/or to challenge the modelled grade where it was believed drilling was too sparse. During 2017 a total of 23 holes were completed in Zone 2, of these 16 holes successfully intersected mineralisation at greater than the modelled resource grade for Zone 2.

 

 

Z Fold Sulphide Drilling

 

 

Three holes; PVRD096, 124 and 156 intersected the mineralised beds multiple times in a relatively large drag fold referred to as the “Z Fold”, located between Zones 2 and 3. Holes PVRD096 and 124 are on adjacent sections, PVRD156 is now the northern most intersection in the Z fold to date. PVRD156 intersected the upper limb and passed through the diagonal limb and the lower fold, the 36.61 m long high grade intersecting represents a vertical height of 34.7, with an estimated true thickness on the upright limb of 9.4 m and an estimated true thickness on the lower limb of 8.0 m. This excellent result indicates that further drilling in the Z fold to the north-east is warranted.

 

 

Zone 3 Sulphide Drilling

 

 

Eight holes were drilled outside of the optimised pit shells in Zone 3, they were drilled to better define the limits of the known attenuated zone immediately down dip of the high grade Z fold metal accumulation. These holes confirmed the current model in this area.

 

 

Geotechnical Drilling

 

 

As part of a scoping level Geotechnical Investigation three dedicated HQ triple tube holes; PVD153, 155 and PVRD154 were drilled on the highest walls of the current pit shell. Hole PVRD154 unexpectedly intersected 7.4 m true thickness of high grade mineralisation in Zone 3. PVD155 intersected thin and low grade mineralisation at the northern end of Zone 2. PVD153 didn’t intersect the host beds. The geotechnical investigation will be augmented with resource development drill holes that intersect the optimised pit shells.

 

 

Zone 2 Transition Drilling

 

 

Two holes, PVRD161 and 162 were drilled to test the apparent gap between the two of the optimised pit shell centres. PVRD161 intersected a strongly mineralised steeply dipping limb of a fold, not in the current geological model and indicates that further drilling to the south-west is needed, this presents an opportunity to potentially connect the two pit shells. PVRD162 drilled the flat dipping lower limb of this new fold, although low grade.

 

 

Metallurgical Test Work Update

 

 

Metallurgical test work on five composites from Zones 1, 2, 3 and Bridge Sulphides, and Zone 1 Transition is progressing at ALS Metallurgical laboratory in Burnie, Tasmania.

 

 

The 2017 metallurgical program commenced using the test conditions established during the 2016 metallurgical test work on Zone 5 and the Burke Hinge Zone, see news release VTT2017 — NR#1, March 6th 2017.

 

 

Open cycle test work on the five composites has been completed, locked cycle test conditions have been set and those tests are now being completed. Results will be released as they are finalised.

 

 

Table 1. Summary of Zones 2, 3 and Z Fold Open Pit Targets Assay Results

 

 

 

Bore
Hole

Dip / Azimuth

From
(m)

To
(m)

Interval
(m)


True Thickness*
(m)

Vertical Depth Be
low Surface (m)
Grade#
Pb+Zn
%

Pb
%

Zn
%

Ag
g/t
Zone 2 — Sulphide
PVRD128 -69/146 89.68 93.20 3.52 3.4 82.7 8.40 4.61 3.79 10
PVRD131 -54/318 97.59 101.26 3.67 3.5 76.9 13.14 9.15 3.99 16
PVRD133 -89/167 No Significant Result
PVRD134 -64/142 No Significant Result
PVRD136 -59/321 77.00 83.10 6.10 5.3 67.4 8.66 6.32 2.34 13
including 77.00 80.15 3.15 3.0 67.4 15.67 11.64 4.02 25
PVRD137 -80/326 82.00 84.00 2.00 1.5 80.9 8.31 5.64 2.67 9
and 91.80 96.28 4.48 4.4 90.58 12.28 8.34 3.94 16
and 109.25 112.00 2.75 2.7 107.7 2.37 0.78 1.59 4
PVRD138 -75/139 81.74 87.07 5.33 4.6 78.8 10.12 6.80 3.32 9
including 82.70 87.07 4.37 3.8 79.7 11.74 8.04 3.70 10
PVRD163 -78/141 No Significant Result
Z Fold — Sulphide
PVRD096 -69/151 158.00 160.75 2.75 2.5 145.4 4.19 2.09 2.10 4
and 178.00 188.88 10.88 6.0 163.5 10.31 7.28 3.03 10
including 178.00 187.00 9.00 5.0 165.3 11.78 8.33 3.46 11
PVRD124 -70/133 156.77 164.09 7.32 6.0 148.3 11.12 8.00 3.12 10
including 157.77 164.09 6.32 5.2 150.2 12.71 9.26 3.45 12
and 171.22 177.50 6.28 6.1 161.9 9.99 6.90 3.09 12
including 171.22 176.50 5.28 5.1 161.9 11.88 8.21 3.68 14
PVRD156 -89/340 121.60 127.40 5.80 5.7 119.1 10.20 7.36 2.84 18
and 158.60 162.60 4.00 2.6 154.7 2.30 1.71 0.59 5
and 164.60 201.21 36.61 9.4 steep limb & 8.0 lower limb 160.4 12.99 9.48 3.51 15
including 168.60 199.00 30.40 8.2 steep limb & 6.3 lower limb 165.1 14.93 10.80 4.13 17

 

 

 

Table 1 Continued

 

 

 

Bore
Hole

Dip / Azimuth


From
(m)

To
(m)

Interval
(m)

True Thickness* (m)


Vertical Depth Be
low
Surface (m)
Grade#
Pb+Zn
%

Pb
%

Zn
%

Ag
g/t
Zone 3 — Sulphide
PVRD100 -58/151 No Significant Result
PVRD116 -77/144 155.47 161.21 5.74 4.2 150.2 6.60 5.16 1.44 9
PVRD125 -64/136 No Significant Result
PVRD152 -60/129 No Significant Result
PVRD157 -85/148 No Significant Result
PVRD158 -86/143 126.60 130.59 3.99 3.9 126.0 12.54 8.32 4.21 12
PVRD159 -75/127 No Significant Result
PVRD160 -74/323 No Significant Result
Zone 3 – Sulphide Geotechnical Holes
PVRD153 -74/139 No Significant Result
PVRD154 -65/064 229.28 245.20 15.92 7.4 212.4 12.12 9.07 3.04 14
PVRD155 -62/355 No Significant Result
Zone 2 — Transition
PVRD161 -74/137 42.40 46.85 4.45 1.3 40.7 4.53 2.36 2.17 3
and 48.85 54.68 5.83 5.6 46.9 10.44 6.21 4.23 11
PVRD162 -51/137 70.55 75.85 5.30 4.2 70.5 1.92 0.93 0.99 2

 

 

*True thickness is estimated using structural measurements and three dimensional geological modelling.

 

 

#Drill intersections are summarized intersection lengths >2.0 m, using a combined 1% lead and zinc grade with maximum 1 m internal dilution. Included intervals are at a combined 3% lead and zinc grade with no internal dilution.

 

Figure 1. Surface Map Showing 2017 Mineral Resource Block Model Contours, Pit Shell and Location of Current Results and 2017 Completed Holes

 

Notes on Drilling and Assay QA/QC

 

 

The drilling involved drilling RC pre-collars using a 5.75 inch diameter face sampling bit to depth prior to casing and continuing the hole in either NQ2 or HQ2 diamond core. Diamond core samples were taken on nominal 1 m lengths but varied to match geological contacts. Samples of the core are obtained using a diamond saw to half cut the core, retaining a half for a permanent core record.

 

 

Field duplicate samples were taken and blanks and commercially prepared certified reference materials (standards) were added into the sample sequence for every hole submitted. These were analysed by the Company and no issues were noted with analytical accuracy or precision.

 

 

Samples used for the results described herein were prepared and analyzed at ALS Laboratory Group in Townsville, Queensland. Analysis was undertaken using a four acid digest and ICP (ALS method: ME-ICP61 for 7 elements) with over limit (>10,000 ppm lead and zinc and >100 ppm silver) high grade samples being read with an atomic absorption spectrometer (AAS), (ALS methods: Pb-OG62, Zn-OG62 and Ag-OG62).

 

 

Drill hole collars are located using handheld GPS, and the collars have since been surveyed by a licensed surveyor. Down hole surveys were undertaken using a true north seeking gyroscope with stations nominally every 6 m.

 

 

All diamond core is orientated using digital core orientation systems, this data is incorporated into the 3D interpretations. Assay intervals shown in Table 1 are down hole intervals, and the true thickness noted are based on 3D interpretations of the host lithology, structure, and mineralization.

 

 

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 one exploration permit that cover an area of approximately 8,290 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 details please see Vendetta’s news release, VTT2017-NR#6, June 27th, 2017 and the NI 43-101 technical report “Pegmont Resource Update June 2017” available on SEDAR.

 

 

The Company expect to complete an updated NI 43-101 technical report in Q1, 2018

 

 

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 the advanced stage Pegmont Lead Zinc project in Queensland, Australia.

 

Posted February 28, 2018

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