Viscount and Centerra Gold Kickstart Drilling at Cherry Creek, Nevada
Tuesday, Nov 19, 2024 7:54 am ET
4min read Viscount Mining Corp. (TSXV: VML) (OTC Pink: VLMGF) and its partner, a wholly-owned subsidiary of Centerra Gold Inc. (TSX: CG) (NYSE: CGAU), have initiated a drill program at the Cherry Creek property in Nevada. This strategic move aims to explore the property's rich geological potential and uncover valuable mineral resources.
The Cherry Creek property, located approximately 50 miles north of Ely, White Pine County, Nevada, consists of 578 unpatented and 17 patented claims, as well as mill rights. The property includes more than 20 past-producing mines and is part of the Cherry Creek Mining District. Viscount entered an exploration earn-in agreement with Centerra Gold in January 2021, allowing for this collaborative drilling program.
The drill program targets two key areas at Cherry Creek. The first target is an area with a large soil and rock sample molybdenum and gold geochemical anomaly. This area is underlain by gold-bearing jasperoid formations, which often indicate the presence of nearby or deeper mineralization. The magnetic anomaly in this target dips moderately to the east and may represent a magnetic dike or porphyry related to the large Eocene-age pluton underlying the entire Cherry Creek mining district. The combined magnetic and molybdenum anomalies suggest the potential for a mineralized porphyry at depth, which could be the engine driving silver plus base metal veins, CRD occurrences, and Carlin-type gold mineralization in the district.
The second target is the continuation of the mineralized Exchequer Fault zone, which extends into the southwest part of the property. The Exchequer Fault is a deep-seated, northeast-trending structure that likely served as a plumbing system for the main Cherry Creek district. This target has the potential to reveal new gold mineralization and expand the known mineralization in the area.
The drilling program consists of approximately seven Reverse Circulation (RC) drill holes, totaling 1,500 meters of drilling. This strategic approach will allow Viscount and Centerra Gold to test the potential of these targets and uncover new mineral resources at Cherry Creek.
The commencement of drilling at Cherry Creek is a significant step for Viscount Mining, as it complements the company's portfolio of silver and gold properties in the Western United States. The Cherry Creek property, with its rich mining history and promising geological features, aligns with Viscount's focus on exploring and developing high-grade, underexplored assets. The drilling program, in collaboration with Centerra Gold, underscores Viscount's commitment to exploring high-potential targets and generating value for shareholders.
In conclusion, Viscount Mining and Centerra Gold's drilling program at Cherry Creek, Nevada, is a strategic move that could lead to the discovery of valuable mineral resources. By targeting areas with significant molybdenum and gold geochemical anomalies and magnetic anomalies, the companies aim to uncover a mineralized porphyry at depth and expand known mineralization in the area. This collaborative effort demonstrates Viscount's commitment to exploring high-potential targets and generating value for shareholders.
The Cherry Creek property, located approximately 50 miles north of Ely, White Pine County, Nevada, consists of 578 unpatented and 17 patented claims, as well as mill rights. The property includes more than 20 past-producing mines and is part of the Cherry Creek Mining District. Viscount entered an exploration earn-in agreement with Centerra Gold in January 2021, allowing for this collaborative drilling program.
The drill program targets two key areas at Cherry Creek. The first target is an area with a large soil and rock sample molybdenum and gold geochemical anomaly. This area is underlain by gold-bearing jasperoid formations, which often indicate the presence of nearby or deeper mineralization. The magnetic anomaly in this target dips moderately to the east and may represent a magnetic dike or porphyry related to the large Eocene-age pluton underlying the entire Cherry Creek mining district. The combined magnetic and molybdenum anomalies suggest the potential for a mineralized porphyry at depth, which could be the engine driving silver plus base metal veins, CRD occurrences, and Carlin-type gold mineralization in the district.
The second target is the continuation of the mineralized Exchequer Fault zone, which extends into the southwest part of the property. The Exchequer Fault is a deep-seated, northeast-trending structure that likely served as a plumbing system for the main Cherry Creek district. This target has the potential to reveal new gold mineralization and expand the known mineralization in the area.
The drilling program consists of approximately seven Reverse Circulation (RC) drill holes, totaling 1,500 meters of drilling. This strategic approach will allow Viscount and Centerra Gold to test the potential of these targets and uncover new mineral resources at Cherry Creek.
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The commencement of drilling at Cherry Creek is a significant step for Viscount Mining, as it complements the company's portfolio of silver and gold properties in the Western United States. The Cherry Creek property, with its rich mining history and promising geological features, aligns with Viscount's focus on exploring and developing high-grade, underexplored assets. The drilling program, in collaboration with Centerra Gold, underscores Viscount's commitment to exploring high-potential targets and generating value for shareholders.
In conclusion, Viscount Mining and Centerra Gold's drilling program at Cherry Creek, Nevada, is a strategic move that could lead to the discovery of valuable mineral resources. By targeting areas with significant molybdenum and gold geochemical anomalies and magnetic anomalies, the companies aim to uncover a mineralized porphyry at depth and expand known mineralization in the area. This collaborative effort demonstrates Viscount's commitment to exploring high-potential targets and generating value for shareholders.
