Vendetta drills 9.02 m of 12.85% Pb+Zn at Peg­mont

Stockwatch Daily - - MINES & METALS - Mr. Michael Wil­liams re­ports

VENDETTA MIN­ING Corp. has pro­vided the last batch of drill re­sults from the 2018 re­source devel­op­ment pro­gram on the Peg­mont lead-zinc project in Queens­land. New zone 3 struc­ture pit high­lights:

• PVRD170: 6.00 me­tres of 11.43 per cent lead plus zinc (8.50 per cent Pb and 2.93 per cent Zn);

• PVD194: 9.02 me­tres of 12.85 per cent Pb plus Zn (9.05 per cent Pb and 3.80 per cent Zn). BHZ/Bridge zone high­lights:

• PVD171: 5.30 me­tres of 9.05 per cent Pb plus Zn (6.60 per cent Pb and 2.46 per cent Zn);

• PVRD191: 4.33 me­tres of 11.97 per cent Pb plus Zn (9.73 per cent Pb and 2.24 per cent Zn).

Michael Wil­liams, Vendetta’s pres­i­dent and chief ex­ec­u­tive of­fi­cer, com­mented: “The dis­cov­ery of the new fold struc­ture in the shadow of the planned open pit high­lights the up­side po­ten­tial that re­mains at Peg­mont. The cor­po­rate strat­egy to date has been to fo­cus ef­forts on the devel­op­ment of min­eral re­sources to sup­port a 10-year min­ing in­ven­tory, we an­tic­i­pate the PEA will demon­strate the eco­nomic po­ten­tial of that. We will now start to broaden our ap­proach to Peg­mont, look­ing to iden­tify and test­ing brown­field ex­plo­ration tar­gets, the re­cently com­pleted

map­ping ex­er­cise is the first step to­wards that.”

(See VTT Ta­ble 1 on page 16)

Up­date on Peg­mont op­tion and pre­paid roy­ally agree­ments

The com­pany has made the fi­nal cash op­tion pay­ment to­talling $1-mil­lion (Aus­tralian) to the ven­dor on Nov. 6, 2018. The com­pany has been granted an ex­ten­sion to the pre­paid roy­alty agree­ment.

Ap­pli­ca­tions for in­dica­tive ap­proval for the trans­fer of the project to Vendetta from the Queens­land Min­is­ter for Nat­u­ral Re­sources, Mines and En­ergy are be­ing pre­pared for lodg­ing on Mon­day, Nov. 12, 2018.

Field­work at Peg­mont is now com­plete for 2018. A de­tailed map­ping pro­gram has been com­pleted and is cur­rently be­ing com­piled. The com­pany ex­pects sev­eral ex­plo­ration tar­gets to be gen­er­ated from this work.

The lat­est guid­ance pro­vided to the com­pany from the in­de­pen­dent con­sul­tants is that the PEA will be com­plete in Novem­ber.

We seek Safe Har­bor.

Erika Flores con­densed this news re­lease (erikaf@stock­watch.com).

David J Baker, Dou­glass Alexan­der Flegg, Dou­glas William Ramshaw, Peter Voul­garis, Michael Jef­frey Wil­liams

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