Canadian explorer Viscount Mining Corp (CVE:VML) has expanded its flagship Silver Cliff project in Colorado, USA.
The company has signed a deal to lease an additional 267.98 acres of patented claims in the Hardscrabble district, including the highly prospective Diamond Lode claim.
The completion of the lease increases the size of the Silver Cliff land package to 2,296.98 acres.
READ: Could Viscount be sitting on more than 50mln ounces of silver at Silver Cliff?
“The acquisition of this claim block is likely to contribute to the expansion of the Kate deposit. These other claims will greatly aid in the development of additional targets,” said Viscount director and geologist Mark Abrams.
Viscount undertook a drilling campaign at Silver Cliff towards the end of 2017. It has reported results from seven of the ten holes, with assays from the remaining three due over the coming weeks.
A full report of historical and current data from drilling and sampling at the project is on track to be released in the second quarter of 2018.
It will be a proof concept updating the historical mineral resource defined by Tenneco in the 1980s to a current NI43-101 mineral resource.
Historical resource estimates suggested that 50mln ounces of silver were present at Silver Cliff, but Torrey Hills Capital’s Clay Chase said recently there is potential for that number to be even greater.