en.Wedoany.com Reported - Viscount Mining Corp. (TSX Venture Exchange: VML; OTCBB: VLMGF) has initiated an accelerated data-driven target generation program at its wholly-owned Cherry Creek Project in Nevada, based on the integration and enhancement of historical datasets originally generated by Centerra Gold Inc. (TSX: CG; OTCPK: CADGF) and Summit Mining (a Sumitomo affiliate).
The technical team has completed the review, validation, and upgrade of the datasets, transforming a fragmented and partially incomplete collection of files into a unified exploration database. The company has identified and enhanced the original data, enabling a comprehensive interpretation of multiple mineralized systems across the entire property.
Viscount Mining stated that it has begun generating a modern exploration dataset, including property-wide geological and structural interpretation, multi-element rock, soil, and stream sediment geochemistry, integrated induced polarization and aeromagnetic geophysics, a drill hole database with cross-section modeling, satellite-derived alteration and mineral mapping, and validated claim boundary maps. These datasets will be incorporated into a modern 3D target generation workflow to identify, rank, and advance drill targets.
Cherry Creek exhibits characteristics of a multi-system property, with potential in porphyry copper-molybdenum systems, carbonate replacement silver-copper mineralization, high-grade gold vein systems, and strategic metals including tungsten and antimony. Initial work has identified priority targets, including Lead Mine Canyon, Mary Anne, the Tungsten Zone, and TiCup.
Mark Abrams, Vice President of Exploration, stated in a company press release: "We are effectively beginning to see Cherry Creek take shape as a true district-scale opportunity. Previously fragmented datasets are now being transformed into a unified exploration platform. As we integrate these datasets and move into the target generation phase, we anticipate identifying multiple high-quality targets across different mineralized systems."
The Board of Directors has approved the grant of 500,000 stock options to a consultant under the stock option plan. The options are exercisable at a price of $0.50 per share and have a term of three years from the date of grant. Of these, 200,000 options vest immediately, with the remaining 300,000 vesting in equal monthly installments of 50,000 over the subsequent six months, subject to regulatory approval.
The London Bullion Market has expanded its clearing network, adding a fifth clearing member for the first time in a decade. This move broadens the settlement infrastructure underpinning the London over-the-counter precious metals market, with members of the London Precious Metals Clearing Ltd. settling an average of over 20 million ounces of gold net daily. The expanded clearing services cover gold, silver, platinum, and palladium.
Silver continues to test the $60 level following comments from Federal Reserve Chairman Kevin Warsh and weaker-than-expected U.S. employment data. Silver has been testing the $60 level, which has encountered buying interest, with prices appearing to find support in this range. On industrial demand trends, an Ember report states that 71% of new energy supply growth comes from solar, with artificial intelligence infrastructure continuing to highlight silver's industrial applications.
Precious metals prices softened as rising crude oil prices, higher Treasury yields, and a stronger U.S. dollar offset geopolitical safe-haven demand. In early North American trading, spot gold was trading at approximately $4,074.10 per ounce, and spot silver was trading at approximately $58.30 per ounce. Positioning following Thursday's June employment report remains favorable for gold from a growth perspective, but interest rate markets have turned against bullion as expectations for further Fed tightening increase ahead of meeting minutes and inflation data.
In the July 2 newsletter "Silver Stocks Look Compelling," analyst Peter Krauth discussed Viscount Mining's exploration activities and follow-up work on its U.S. projects. Krauth wrote that the company is entering the second half of 2026 with a strong financial position and a fully funded exploration program for its wholly-owned U.S. projects. The company has completed an oversubscribed financing, strengthened its balance sheet, and upgraded to the OTCQX Best Market.
Discussing the Silver Cliff Project, Krauth wrote that the company has completed a 10-hole drilling program at the Kate silver deposit, with visual logging revealing several encouraging geological features associated with high-grade silver mineralization, though assay results are still pending. SLR Consulting is reviewing the Kate resource estimate, which may increase supported by updated drilling and previously unmodeled low-grade mineralization.
Krauth also addressed work at the Passiflora target, where Rosor Exploration has completed a high-resolution airborne geophysical survey, with results expected shortly. Once integrated with existing data, the survey will help refine targets ahead of the planned three-hole deep drilling program. The first hole has intersected over 840 meters of continuous gold-copper mineralization, and the system remains open in multiple directions.
Regarding Cherry Creek, Krauth wrote that field work and drilling planning are underway for multiple silver, gold, copper, and polymetallic targets. Looking ahead, he identified planned milestones including the release of Silver Cliff assay results, completion of the Kate resource estimate update, interpretation of Rosor's survey data, finalization of Passiflora drill targets, initiation of deep drilling, and continued exploration at Cherry Creek. Krauth concluded: "I still believe the stock price does not reflect the scale of the opportunity here, so I am happy to continue holding my position."
Cherry Creek is expected to progress through several technical phases, beginning with the completion of key datasets and integrated maps, followed by target integration and prioritization across multiple zones, then the identification of drill-ready targets and advancement to field work plans.
According to the company's Q2 2026 corporate update, Cherry Creek is located in White Pine County, Nevada, and comprises 219 unpatented and 17 patented mining claims, plus mill site rights. The property hosts over 20 past-producing mines, including quartz vein-hosted silver-gold-tungsten systems, carbonate replacement deposit mineralization, jasperoid zones, and porphyry-related alteration.
The corporate update also outlined planned work for the company's Silver Cliff Project in Colorado. For the Passiflora copper-gold porphyry target, planned drilling aims to test a breccia pipe mapped by the U.S. Geological Survey (USGS), while targeting the deepest and strongest core of the Quantec MT anomaly. Drill locations are being optimized through 3D modeling integrating soil geochemistry, structural mapping, and MT geophysical data. The first planned hole for 2026 is designed as an inclined hole to test breccia pipe mineralization before entering the MT anomaly center at an estimated depth of approximately 1,500 meters. For the Kate resource area, the 2026 drilling program is expected to include at least 10 holes totaling 600 meters. The program includes expansion drilling at Kate North and Kate Northeast, drill testing of the Ben West structural corridor, and infill drilling within the existing resource envelope to support future technical work and a revised NI 43-101 (technical report). Permitting for the 2026 drilling program is underway.
Management and insiders hold 3.06% of Viscount Mining, institutions hold 1.80%, with the remainder held by retail investors. Viscount Mining has a market capitalization of C$32.16 million, with 123.42 million shares outstanding and a 52-week price range of C$0.325 to C$1.30.
