Resource World Magazine

42 www.resourceworld.com A U G U S T / S E P T E M B E R 2 0 1 4 Junior mineral explorers have different business strategies. The strategy of Viscount Mining Corp. [VML-TSXV] is to assemble and explore adjoining properties with known deposits of silver and gold in the stable jurisdiction of the western United States. As such, the company has properties in Nevada (almost all being patented land) and Colorado that have seen past production that ceased due to low prevailing metal prices and/or World War II. In mid June Viscount signed an agreement for Sumitomo Corporation of America to conduct an exploration program on its 100%-owned, flagship Cherry Creek Project near the town of Cherry Creek, White Pine County, northeast Nevada. The 2,700- acre claim group has over 20 formerly producing high-grade silver and gold mines, including the three largest past-producing silver mines: the Exchequer/New Century Mine, Ticup and Star Mine. In May 2013, Viscount received a NI 43-101-compliant inde- pendent geological report prepared by Snowden Mining Industry Consultants. The Snowden geologists identified similar lithology 2 miles north of the Star Mine with the same lithology that hosts Newmont's large gold deposit at Long Canyon. Viscount followed this up by staking 49 claims that covered this type of gold deposit that will be mapped and sampled during the 2014 exploration season. More ground was also added around the Star, Exchequer and New Century mines. Previously, Viscount geologists re-sampled the Exchequer vein with the best assay greater than 1,134 g/t silver. Exploration plans also include mapping and channel sampling of Viscount Mining and Sumitomo team up in Nevada by Ellsworth Dickson Harry Barr, Chairman & CEO, reported that El Nino Ventures Inc. [ELN-TSXV; ELNOF-OTC Pink; E7Q-FSE] has farmed out a 100% interest in its 70% interest in the Kasala copper project in the Democratic Republic of Congo for a total consideration of US $6 million. Under the option agreement, MMG is required to spend US $15 million on explo- ration. El Nino will retain a 1.5% NSR royalty. One of the world's largest produc- ers of zinc and also a producer of copper, lead, gold and silver, MMG owns and operates the Kinsevere copper mine 30 km from the Kasala Project. During 2008, El Nino drilled 35 reverse circulation holes on the Kasala property totaling 3,336 metres and 15 diamond drill holes totaling 2,584 metres. Significant assays results from Kasala Block A included: • Hole MDB023: 80m @ 1.42% Cu from 17m downhole; includes 29m @ 2.82% Cu and 5m @ 4.11% Cu • Hole MDB027: 91m @ 1.16% Cu from 9m downhole; includes 22m @ 3.28% Cu and 5m @ 4.39% Cu • Hole MDBDD0011b: 91m @ 1.19% Cu from 54m downhole; includes 10m @ 6.7% Cu • Hole MDBDD0019: 22m @ 3.28% Cu from 125m downhole; includes 7m @ 7.02% Cu (sulphide) As drilled, the Kasala prospect oxide zone measures about 600 metres long x 400 metres wide x 30 metres thick. It is impor- tant to note that many 2008 drill holes ended in copper oxide mineralization. The mineralized zone is open to expansion by drilling to the north, south and west, and to depth. In addition, soil sampling has identified three new copper-in-soil anoma- lies that warrant investigation. Located 70 km northwest of Lubumbashi, the DRC's second largest city and centre of the huge copper-cobalt indus- try, Kasala has excellent infrastructure is 20 km from the national highway and is 30 km from a railway linking the min- ing centres of the Central African Copper Belt. A high-tension power line is 12 km away. El Nino also has two significant min- eral interests in the Bathurst mining camp of northern New Brunswick, Canada. El Nino, 35%, and Votorantim Metals Canada Inc., 65%, project operator, are partners on the Murray Brook zinc-lead- silver-copper project where a positive preliminary economic assessment was completed in midf-2013. Located adjacent to Trevali Mining's Caribou Mine and mill complex, Murray Brook has an after-tax NPV of $96,440,000 (5% discount) and an IRR of 11.40% based on a mill throughput of 6,000 tpd (2 million tpy). The life-of-mine would be 9.5 years The life-of-mine strip ratio is 4.32:1 waste-to-ore. Payback is 5.43 years. Measured and indicated sulphide ore totals 17,884,000 tonnes grading 2.73% zinc, 0.99% lead, 0.47% copper, 41.7 grams silver/tonne and 0.59 grams gold/ tonne. Votorantim recently relinquished its option to earn up to a 50% interest in the Bathurst Option Joint Venture zinc- lead-silver project (BOJV). The project is owned 50:50 by El Nino and Glencore Canada Corp. (formerly Xstrata Canada Corp.). El Nino and Glencore are cur- rently compiling the data generated by Votorantim for the next steps in explora- tion of the BOJV. n MINING el nino ventures farms out Kasala coPPer Project

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