Vancouver, British Columbia--(Newsfile Corp. - November 15, 2017) - Vendetta Mining Corp. (the "Company") (TSXV: VTT) is pleased to announce further results from Zones 2 and 5 at the Pegmont Lead-Zinc Project in Queensland, Australia.
Zones 2 Highlights:
PVRD102: 9.20 metres of 11.51% Pb+Zn (7.87% Pb, 3.28% Zn);
PVRD113: 8.25 metres of 10.73% Pb+Zn (7.99% Pb, 2.74% Zn);
PVRD121: 7.90 metres of 13.00% Pb+Zn (9.92% Pb, 3.08% Zn); and
PVRD127: 5.50 metres of 10.48% Pb+Zn (7.35% Pb, 3.13 Zn)
Zones 5 Highlights:
PVRD086: 8.90 metres of 9.79% Pb+Zn (6.16% Pb, 3.62% Zn)
A full summary of the sulphide lead-zinc results including estimated true widths are provided in Table 1 and 2, the location of the holes is shown on the map in Figure 1.
Michael Williams, Vendetta's President and CEO commented, "The Company is very pleased that the resource development drilling continues to yield high grade results, these coupled with the previously released results build a solid basis for updating the mineral resource estimate which the Company is planning to complete in Q1 2018."
Zone 2
This drilling continues a series of sections which were released previously, see Vendetta news release VTT2016 NR #9, August 24, 2017. Drilling in Zone 2 occurred on six sections, with a final strike spacing of nominally 50 m. For drill hole locations please see Figure 1.
Drill hole PVRD102 was drilled on a section which included previously released holes PVRD073, 074, 075 and 079. It was located to test for the presence of a previously unidentified fold whose presence was inferred from the structural analysis of the completed holes. It successfully intersected high grade mineralisation and confirmed the presence of a fold structure.
Drill holes PVRD093 and 095 were drilled from the same pad towards the north-west. PVRD095 intersected both the geology and mineralisation as anticipated. PVRD093 didn't intersect the host lithology, subsequent structural analysis suggests the hole ended prematurely, it will likely be extended in the future.
Holes PVRD121 and 122 were drilled from the same pad towards the north-west, these holes intersected the host banded iron stone slightly shallower than predicted in the geological model. The holes successfully intersected high grade mineralisation outside of the current resource model.
PVRD113 single hole drilled on the edge of modelled high grade intersected both the geology and mineralisation as anticipated.
The next section comprises three holes; PVRD136, 137 and 138, which are yet to be logged.
PVRD127 interested high grade mineralisation 10 m deeper than expected, in an area in the resource model which is modelled as having lower than intersected grades.
The south-western most section drilled in Zone 2 includes four holes; PVRD130, 131, 133 and 134. To date only PVRD130 has been logged and assayed, returning a high grade intersection about 15 m deeper than expected and preliminary interpretation suggests is an unknown fold structure.
Table 1. Summary of Open Pit Target Zone 2 Sulphide Assay Results.
Bore
Hole | Dip / Azimuth | From (m) | To (m) | Interval (m) | True Thickness* (m) | Vertical Depth Below Surface (m) | Grade # |
| Pb+Zn % | Pb% | Zn% | Ag g/t
|
| PVRD102 | -62/323 | 83.00 | 92.20 | 9.20 | 6.5 | 74.4 | 11.15 | 7.87 | 3.28 | 16 |
| PVRD095 | -71/295 | 107.05 | 115.08 | 8.03 | 8.0 | 101.6 | 7.44 | 4.13 | 3.32 | 21 |
| including | 109.05 | 114.08 | 5.03 | 5.0 | 103.5 | 11.37 | 6.42 | 4.96 | 33 |
| PVRD093 |
| No Significant Result |
| PVRD113 | -76/321 | 98.12 | 106.37 | 8.25 | 7.6 | 94.1 | 10.73 | 7.99 | 2.74 | 13 |
| including | 98.12 | 104.37 | 6.25 | 5.8 | 94.1 | 13.16 | 9.73 | 3.44 | 14 |
| PVRD121 | -51/318 | 103.98 | 111.88 | 7.90 | 5.9 | 81.9 | 13.00 | 9.92 | 3.08 | 13 |
| PVRD122 | -65/320 | 103.63 | 109.13 | 5.50 | 5.5 | 93.5 | 13.54 | 9.76 | 3.78 | 14 |
| PVRD127 | -88/177 | 75.50 | 81.00 | 5.50 | 5.3 | 75.1 | 10.48 | 7.35 | 3.13 | 9 |
| including | 75.50 | 80.00 | 4.50 | 4.4 | 75.1 | 12.56 | 8.93 | 3.63 | 10 |
| PVRD130 | -68/318 | 84.56 | 92.39 | 7.83 | 6.8 | 78.6 | 8.66 | 6.04 | 2.62 | 7 |
| including | 84.56 | 90.39 | 5.83 | 4.2 | 78.6 | 10.81 | 7.50 | 3.31 | 8 |
*True thickness is estimated using structural measurements and three dimensional geological modelling.
#Drill intersections are summarized intersection lengths >2.0m, using a combined 1% lead and zinc grade with maximum 1 m internal dilution. Included intervals are at a combined 3% lead and zinc grade with no internal dilution.
Zone 5
Drill hole PVRD086 was drilled at the north-east end of Zone 5, approximately 500 m along strike from the previously released results, see Vendetta news release VTT2017 NR #12, November 7, 2017, and shows that within Zone 5 there is metal zonation, with zinc grade increasing towards the south-west.
Drill Hole PVRD088 attempted to drill along strike from PVRD086 but the drill path didn't follow the expected course and the hole intersected the attenuated north limb of Syncline C. The same target was attempted again with PVRD089 which in turn also didn't follow the expected path and was subsequently abandoned.
Table 2. Summary of Zone 5 Assay Results Underground Target.
Bore
Hole | Dip / Azimuth | Lens | From (m) | To (m) | Interval (m) | True Thickness*
(m) | Grade# |
| Pb+Zn % | Pb % | Zn% | Ag g/t |
| PVRD086 | -77/187 |
| 333.57 | 342.47 | 8.90 | 8.7 | 9.79 | 6.16 | 3.62 | 8 |
| including |
| 334.59 | 339.47 | 4.88 | 4.6 | 13.48 | 9.60 | 3.88 | 13 |
| PVRD088 | -82/191 |
| No Significant Result |
| PVRD089 | -86/180 |
| Abandoned - No Significant Result |
*True thickness is estimated using structural measurements and three dimensional geological modelling.
#Drill intersections are summarized intersection lengths >2.0m, using a combined 1% lead and zinc grade with maximum 1 m internal dilution. Included intervals are at a combined 5% lead and zinc grade with no internal dilution.
Copper-Gold Target Exploration
At the copper-gold target two exploration holes have been completed from one drill pad. The first hole, PVRD149 intersected minor veining including a quartz vein (3 cm) with boxwork (suggesting the presence of leached sulphide) and a ~5 cm silica + chalcopyrite + pyrite vein. A 20 m zone of low tenor chalcopyrite infilling fractures was present. PVRD150, drilled beneath PVRD149, failed to intersect any visible chalcopyrite. The Company believes that there has been insufficient sulphide mineralization intersected to explain the TEM conductor anomaly. A third drill hole, PVRD151, has commenced, located 300 m to the SW of PVRD149.
Update on Pegmont Resource Development Drilling
To date, a total of 95 drill holes have been completed during the 2017 program, for a total of 20,058 m.
Including completed drill holes discussed in this release, the Company has announced the results from 56 drill holes, see also Company news releases dated July 25th 2017 (VTT2017 NR #7), August 24th 2017 (VTT2017 NR #9), September 19th 2017 (VTT2017 NR #10) and November 7th 2017 (VTT2017 NR#12).
Processing, logging, sampling and assaying of the core not released to date is ongoing. Results will be released as they become available. Drilling is scheduled to be concluded on or about the December 15th, prior to the arrival of the wet season in North West Queensland.