Vancouver, British Columbia--(Newsfile Corp. - October 19, 2016) - Vendetta Mining Corp. (TSXV: VTT) (the "Company") is pleased to report assay results from exploration hole PVR040; an update on activities at the Pegmont Lead-Zinc Project; and the appointment of Ocean Partners Holdings Ltd. ("Ocean Partners") as concentrate marketing advisor.
Discovery of High Grade Copper Mineralization 1.6 km south west of the Pegmont Lead-Zinc Deposit
Exploration drill hole PVRD040 intersected 3.0 m of 3.21% Cu and 0.57g/t Au from 113 m down hole. Coarse chalcopyrite mineralization was intersected in a silica altered pegmatite.
The high grade intersection was centered within a broader silica-pyrite alteration zone of elevated copper-gold mineralization. The hangingwall alteration was intersected over 5 m, grading 0.09% Cu, 0.02 g/t Au, and the footwall alteration zone was intersected over 5 m, grading of 0.24% Cu, 0.10 g/t Au. Additional drilling is required to estimate the true thickness.
PVR040 is located on the southern exploration permit (EPM14491) of the Pegmont Project, approximately 1.6 km south west of the Zone 5 lead-zinc mineralization at Pegmont. The hole was drilled to test a low level, linear magnetic feature that has a strike length of approximately 500 m.
The geological model the Company will employ when further evaluating the discovery is the Kulthor copper-gold deposit, an iron sulphide-copper-gold deposit hosted in altered pegmatites and shears, which is a possible analog.
As of the end of 20121 Kulthor had Measured + Indicated Resources of 7.3 Mt of 1.58 % Cu, 0.99 g/t Au and the Inferred Resource of 5.3 Mt at 1.4 % Cu and 0.87 g/t Au. Kulthor was mined via a decline from the Osborne mine and processed at the nearby Osborne mill. Copper-gold mineralization associated with Osborne & Kulthor is understood to be geologically younger, and not related to the lead-zinc mineralization at Pegmont.
The Pegmont Project is located 28 km north-east of the Osborne operations, and is within 22 km of an existing haul road that links the former operations at Selwyn and Osborne.
The Company plans follow up drilling during the next phase of activities at Pegmont.
1 Inova Resources Target's Statement September 2013.
Pegmont Lead-Zinc Project Update
Drilling activities at the Project have been concluded. The Company's field crew are completing core logging and data compilation. The final batch of drill core have been submitted to ALS Ltd ("ALS") and the results will be released when they become available.
Diamond core composites from the Burke Hinge Zone and Zone 5 have been received by the ALS metallurgical laboratory in Burnie, Tasmania. The test work will include mineralogy studies, heavy media separation, rougher and cleaner flotation testing, with the aim being to produce separate marketable lead and zinc concentrates.