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Vendetta Mining Corp.
Summary
| Project: | Pegmont | |
|---|---|---|
| Deposit: | Pegmont | |
| Location: | Australia | |
| Commodities: | Lead-Zinc-Silver | |
| Date: | 8/30/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-8-2018: Vendetta Mining Corp. announces an Exploration/Drilling Update report for its Pegmont deposit at the Pegmont project. Drilling results incl. 15m @ 5.03% Pb, 1.03% Zn, 5.39g/t Ag from 21.30m. The initial 2018 drill program included a total of 32 | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Peter Voulgaris (Internal) | |
| ABSTRACT: | The initial 2018 drill program included a total of 32 holes and one hole from 2017 was extended, for a total of 4670 m. An important component of that program included the drilling of 12 diamond holes in an area that is being considered as the initial site for open pit development at Pegmont. This portion of the planned Open Pit was drilled predominately with reverse circulation (“RC”) drilling prior to 2008. Vendetta’s diamond program was designed to verify grades, expand mineralization, confirm material types and obtain metallurgical samples. Vendetta also conducted a small RC program of 5 holes to try confirm geological interpretations outside of the mineral resource area. Based on geological logging the mineralized intersections were classed as oxide, transition or sulphide, results are reported based on the logging classification. Metallurgical test work will now be performed on the intersections classed as Transition or Sulphide to verify the flotation performance of each hole in a variability metallurgical test program. Peter Voulgaris, Director and Pegmont Project Manager commented “As part of the advanced planning for the Preliminary Economic Assessment (“PEA”) the Company had been considering start-up pit locations suitable for in-pit tails disposal, the planned locations offer significant advantages to the project including a simplified permitting process, the capital savings of not needing to build a tails dam storage facility, and limiting the projects footprint. While these drill results will not be incorporated into the PEA, they and the metallurgical results that will follow are a significant step in de-risking the startup period at Pegmont.” A series of holes were drilled to test both areas modelled as oxide and transition mineralisation. In general, it has been possible to expand the transition mineralisation in the area tested. Transition mineralisation at Pegmont is defined as predominately sulphide lead-zinc mineralisation in variably weathered, usually moderate to slightly weathered country rocks. Zone 1 Transition mineralisation was the subject of locked cycle flotation metallurgical test work in 2017 (see Vendetta New Release, March 5 th , 2018), excellent recoveries having been obtained, equivalent to that of mineralisation in unweathered rocks. Location of the holes can be seen in Figure 1. | |
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