Vancouver, British Columbia--(Newsfile Corp. - February 13, 2018) - Vendetta Mining Corp. (TSXV: VTT) (the "Company") is pleased to announce results from the Bridge Zone and other drilling from the completed 2017 program at the Pegmont Lead-Zinc Project in Queensland, Australia.
Bridge Zone Sulphide Highlights:
PVRD132: 6.00 metres of 14.41% Pb+Zn (11.24% Pb, 3.17% Zn);
PVRD135: 6.16 metres of 13.39% Pb+Zn (10.29% Pb, 3.10% Zn);
PMRD016: 4.39 metres of 13.05% Pb+Zn (10.77% Pb, 2.28% Zn);
PVRD146: 9.22 metres of 12.17% Pb+Zn (9.77% Pb, 2.40% Zn); and
PVRD147: 9.98 metres of 10.31% Pb+Zn (7.81% Pb, 2.50% Zn)
A full summary of the sulphide lead-zinc results including estimated true widths are provided in Table 1 and 2 and the location of the holes is shown on the map in Figure 1 and for the Bridge Zone intersections on the plan in Figure 2. A cross section through the Bridge Zone is shown in Figure 3.
Michael Williams, Vendetta's President and CEO commented "These additional results from the Bridge Zone discovery continue to support the high grade continuity of this zone. Potential development of the Bridge Zone is enhanced by its proximity to the main optimised pit shell at Pegmont, the closest drill intersection to date lying only 120 m to the east and 50 m below the pit shell. We look forward to adding the Bridge Zone to the Mineral Resource Estimate which the Company is working to have completed by the end of March. There remains significant potential to develop the Bridge Zone further, this will form part of the 2018 drilling program."
Bridge Zone Underground Target
The Company announced the discovery of the Bridge Zone on September 19th, 2017 (see news release VTT2017 NR#10). Since then a further ten holes targeting the Bridge Zone mineralization were completed. Three of these holes were successful re-entries of previous Burke Hinge Zone drilling, extended to intersect the Bridge Zone; two historic holes PMRD016 and 020 (drilled 1996) and one Vendetta drill hole PVRD028 (drilled 2016).
Hole PVRD146 and 147 were drilled on a section at the south-eastern most section to date, both intersecting >9 m widths and consistent high grades. About 50 m down dip from PVRD147, hole PVRD148 intersected the mineralised horizon but only at 1 m thickness.
PVRD132 was drilled on the previously announced section including holes PVRD106, 107 and 108, about 33 m down dip of PVRD108, it intersected high grades mineralisation consistent with PVRD108. PVRD028, drilled at Burke Hinge Zone in 2016, was successfully re-entered and extended to intersect the mineralised horizon at about 80 m down dip of PVRD132. It found the mineralised horizon had thinned and grades has also declined.
While on the PVRD028 drill site it was decided to re-enter historic RC hole PMR016 and extend in core to obtain some closer spaced information at relatively small cost. This hole successfully intersected the Bridge Zone about 25 m along strike of PVRD108, achieving comparable grades and thicknesses.
PVRD135 was drilled on the previously announced section that included holes PVRD115, 112, 114, 092 and 117, see the updated cross section in Figure 3. PVRD135 intersected high grade mineralisation and widths about 33 m down dip of PVRD117, which were consistent with PVRD117.
PVRD118, was drilled to test for a possible syncline target where it is theorised the beds return towards the Burke Hinge Zone. Structural analysis found however that the mineralised horizon changes to dip, dipping steeply to the south-east, this changes the possible location of the syncline, which remains an exciting exploration target, see Figure 3.
PVRD129 and PMRD020 tested the north-west end strike extent and failed to intersect the mineralised horizon, based on detailed structural data and analysis it is now believed that the host beds are folded downwards and potentially dip below these two holes.
Core from holes PVRD114, 135, 146 and 147 was used to form a metallurgical composite for the Bridge Zone, the composite weighted 96 kg at an average diluted grade of 8.76% Pb and 2.60% Zn. Test work is currently ongoing at the ALS Metallurgy laboratory.
The Company plans to continue to expand the Bridge Zone and test the revised structural model for the syncline targets in 2018.
Zone 5 Underground Target
Three holes; PVRD099, 101A and 103, were drilled at the NE end of Zone 5. All three holes experienced excessive drill path deviation, PVRD101 was abandoned and re-drilled as PVRD101A, which was completed, but didn't intersect the design target, hitting the attenuated northern limb of Syncline C.
Hole PVRD099 targeted the keel of Syncline C, the location of previous high grade intersections, however the hole lifted, intersecting both upper and lower lenses on the southern limb of Syncline C. Hole PVRD103 was drilled in a further attempt to drill the keel of Syncline C, again lifted and failed to hit its target.
Zone 1 and Burke Hinge Zone Open Pit Targets
PVRD146 was drilled to intersect the Bridge Zone, within the RC pre-collar portion of the hole it also intersected Burke Hinge Zone mineralization in the lower lens.
Two holes were drilled in Zone 1, both intersected the fold structure at the planned depths but at a location where it has been attenuated.
Results from the final 24 holes of the 2017 resource development drilling program, drilled in Zones 2 and 3, are currently being validated and interpreted, these results will be released as they are finalized.
Table 1. Summary of Bridge Zone and Zone 5 Underground Targets Assay Results
| BoreHole | Dip / Azimuth | From
(m) | To (m) | Interval (m) | True Thickness* (m) | Grade# |
| Pb+Zn % | Pb% | Zn% | Ag g/t |
| Bridge Zone — Sulphide |
| PVRD129 | -69/203 | No Significant Result |
| PMRD020 | -58/204 | No Significant Result |
| PVRD118 | -64/030 | 339.34 | 343.00 | 3.66 | 1.2 | 2.92 | 1.14 | 1.78 | 9 |
| PVRD135 | -76/024 | 226.63 | 233.79 | 7.16 | 5.6 | 11.67 | 8.95 | 2.72 | 14 |
| including | 227.63 | 233.79 | 6.16 | 4.8 | 13.39 | 10.29 | 3.10 | 16 |
| PMRD016 | -59/206 | 285.90 | 291.29 | 5.39 | 5.2 | 11.15 | 9.23 | 1.91 | 22 |
| including | 285.90 | 290.29 | 4.39 | 4.2 | 13.05 | 10.77 | 2.28 | 26 |
| PVRD132 | | 237.52 | 245.36 | 7.84 | 7.3 | 11.31 | 8.82 | 2.48 | 15 |
| including | 237.52 | 243.52 | 6.00 | 5.4 | 14.41 | 11.24 | 3.17 | 18 |
| PVRD028 | -78/207 | 280.17 | 283.43 | 3.26 | 3.0 | 5.95 | 2.84 | 3.11 | 6 |
| including | 281.17 | 283.43 | 2.26 | 2.1 | 7.79 | 3.53 | 4.26 | 6 |
| PVRD146 | -53/207 | 290.00 | 299.22 | 9.22 | 7.2 | 12.17 | 9.77 | 2.40 | 14 |
| and | 308.08 | 310.02 | 1.94 | 1.9 | 3.94 | 1.89 | 2.06 | 8 |
| PVRD147 | -63/2004 | 284.75 | 292.73 | 9.98 | 9.4 | 10.31 | 7.81 | 2.50 | 10 |
| including | 285.75 | 292.73 | 6.98 | 6.5 | 13.93 | 10.57 | 3.36 | 12 |
| PVRD148 | -77/210 | No Significant Result |
| Zone 5 — Sulphide |
| PVRD099 | -79/143 | 237.86 | 243.63 | 5.77 | 5.3 | 8.66 | 6.31 | 2.35 | 12 |
| and | 338.10 | 340.64 | 2.54 | 2.3 | 13.09 | 7.26 | 5.83 | 7 |
| PVRD101A | -80/318 | No Significant Result |
| PVRD103 | -73/158 | No Significant Result |
*True thickness is estimated using structural measurements and three dimensional geological modelling.
#Drill intersections are summarized intersection lengths >2.0 m, 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.