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Tuesday, May 30, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Vendetta Mining reports high-grade intersections at Pegmont Lead-Zinc Project

The upcoming exploration drilling will focus on building upon the success of the 2021 program

Vendetta Mining reports high-grade intersections at Pegmont Lead-Zinc Project
Photo by Albert Hyseni via Unsplash

Vendetta Mining Corp. (TSXV: VTT) found high-grade lead and zinc intercepts during its 2022 exploration drilling campaign at its Pegmont Lead-Zinc Project in Australia.

On Thursday, the company released results from two drill zones at Pegmont and exploration drilling at its Killer Bore Zinc project, approximately five kilometers west of Pegmont.

The Pegmont Lead-Zinc and Killer Bore projects in Queensland discovered:

  • PVD209: 8.95 metres of 9.09 per cent lead and zinc (8.95 per cent Pb, 2.29 per cent Zn)
  • PVD211: 5.32 metres of 12.43 per cent lead and zinc (9.38 per cent Pb, 3.05 per cent Zn)
  • PVD213: 4.80 metres of 9.13 per cent lead and zinc (6.00 per cent Pb, 3.14 per cent Zn) and
  • PVD218: 5.14 metres of 12.78 per cent lead and zinc (8.88 per cent Pb, 3.90 per cent Zn)

The company drilled a total of eight holes were drilled in the northeastern end of Zone 3, aiming to expand the mineral resource in that area.

In Zone 2, five holes were drilled to extend the mineral resource up dip. Two holes were successful in this endeavor, while the other three encountered poorly mineralized garnet-rich beds.

At Killer Bore, the company managed to drill two holes out of a planned ten-hole program.

The first hole, VKD001 intersected 0.14 per cent Zn over 4.8 meters, starting from 96.36 meters down the hole, at the targeted position of the pyrrhotite iron stone horizon. The second hole, VKD002 was intended to drill 100 meters down dip from the mineralized bed in VKD001 but had to be halted above the target depth due to the onset of rain.

Five zones. Image via Vendetta Mining.

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Vendetta to continue drill testing at Killer Bore

The upcoming exploration drilling will focus on Zone 5, building upon the success of the 2021 program.

Furthermore, at Killer Bore, the planned program will resume with the objective of conducting conclusive tests on two prospects that had historic intersections in three holes. These holes are identified as AND041 with 3.0 meters at 15.44 per cent Zn, ANP418 with 4.0 meters at 8.26 per cent Zn, and DDH01KB001 with 4.0 meters at 10 per cent Zn.

Core inspection at Pegmont. Image via Vendetta Mining.

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No issues noted in prepared reference materials

Blanks and commercially prepared certified reference materials were included in the sample sequence for every hole submitted. These were analyzed by the company, and no issues were noted with analytical accuracy or precision. Currently, a series of pulp duplicates are being submitted for analysis.

Drill hole collars are located using handheld GPS. Downhole surveys were undertaken using a true north-seeking gyroscope with stations nominally every 6 metres down the hole.

Bulk density determinations are made on every sample sent for analysis that was visually deemed to be above 3 per cent Pb+Zn.

Vendetta’s Pegmont Lead Zinc Project is located in the Mount Isa in the McArthur Mineral Province in Australia. This region is renowned for its abundant lead-zinc-silver mineralization, hosting several significant mines in these metals. The current Mineral Resource Estimate for the project is as follows: Indicated resources of 5,758,000 tonnes at 6.5 per cent Pb, 2.6 per cent Zn, and 11 g/t Ag, and Inferred resources of 8,277,000 tonnes at 5.1 per cent Pb, 2.8 per cent Zn, and 8 g/t Ag.

Vendetta shares remained flat on Thursday at $0.06 on the TSX Venture Exchange.


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