Resource World Magazine

J U N E / J U L Y 2 0 1 7 www.resourceworld.com 53 Australian Update by Greg Barns VENDETTA MINING CORP. [VTT-TSXV] is a base metal play with a fine address. I don't mean the company's downtown Vancouver corporate office but the loca- tion of its Pegmont lead-zinc development in Queensland, Australia. Pegmont is located in the world renowned base metal province of McArthur River – an area where mining heavyweights such as Glencore, MMG, South 32 operate. Pegmont is southwest of Mount Isa and 28 km from South 32's Cannington Mine, one of the world's largest lead and silver mines. It has easy access to Australian and Asian smelters (lead and zinc) via a deep sea port in the city of Townsville. Pegmont is a multiple lens, stratiform Broken Hill style deposit that outcrops with an overall shallow dip to the southeast and is hosted in a magnetite-rich banded iron formation within high-grade metamorphic rocks. Over an area of ~3,470 hectares the Pegmont Project consists of three mining leases and two exploration permits. There are six zones in the deposit. A 2014 N1 43-101 resource estimate covering zones 1-4, completed by AMC Consultants (Canada) Ltd., defined a resource of 2.07 Mt grading 6.86% ZnEq indicated; 6.1Mt of 7.94% ZnEq inferred for a total of 8.17Mt of 7.67% ZnEq. However, since then, Vendetta has com- pleted another 13,500 metres of drilling on the Burke Hinge Zone (BHZ) and Zone 6. An updated resource estimate is expected shortly. The mineralization is character- ized as oxide, transition and sulphide. In many of the zones there is near sur- face mineralization. The BHZ is an open pit target; the company reports that it has the shallowest known sulphide mineral- ization at Pegmont, sitting just 24 metres below surface. The BHZ is an outcropping, moderately dipping zone comprising two parallel limbs of a tight, overturned anti- cline fold. The BHZ has a known strike length of 240 metres and a down-dip extent of 110 metres. Zone 5 is also providing exciting news. On March 6, Vendetta announced drill results including 14.77 metres of 11.91% Pb+Zn; 4.35 metres of 11.85% Pb+Zn; and 5.05 metres of 10.32% Pb+Zn. Recent metallurgical test work of sam- ples from the BHZ and Zone 5 showed separate, marketable lead and zinc con- centrates for all samples. Zones 1, 2, 3 are also being drilled and Vendetta says Zones 1 and 2 are targets with transitional and sulphide mineralization 20-100 metres below surface. Underground targets in Zones 2 and 3 are also identified. In addition to the lead-zinc story at Pegmont, gold and copper have caught Vendetta Mining's attention. On May 4, the company reported results of a ground EM survey targeting a discovery made last year 2 km southwest of Pegmont. "The EM survey followed up on the October 2016 regional exploration RC hole (PVR040) which intersected 3.0 metres of 3.21% cop- per and 0.57 g/t gold from 113 metres down hole. The high-grade intersection of chal- copyrite was intersected in a silica altered pegmatite, similar in style to the nearby Osborne-Kulthor copper-gold deposits." Two drill rigs will continue to expand resources and test strike length in Zone 3 and pursue the copper gold exploration target. n Vendetta Mining expanding Queensland base metal resources EMPIRE METALS CORP "EP" "LEADING THE CHARGE IN ALBERTA LITHIUM" Trading Symbol: TSXV: EP www.empiremetalscorp.com M E T A L S C O R P Huge Alberta Lithium land position – more than a 70 per cent interest in 758,383 acres in 37 Metallic and Industrial Mineral Permits covering lithium enriched aquifers in Fox Creek, Alberta. Lithium enriched brines are produced as a by-product of ongoing petroleum production at existing Fox Creek oil and gas wells. Millions of dollars in existing petroleum wells and infrastructure. Empire also owns the Buck Lake platinum, palladium, nickel discovery located within 30 kms of North American Palladium's Lac Des Iles Mine.

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