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Vendetta Increases Pegmont Lead-Zinc Mineral Resource to 5.8 Million Tonnes Indicated and 8.3 Million Tonnes of Inferred. Open Pit Constrained Mineral Resource now at 54% Indicated
Vancouver, British Columbia--(Newsfile Corp. - August 9, 2018) - Vendetta Mining Corp. (TSXV: ...
About this update from Vendetta Mining Corp.
[{"type":"text","content":"Vendetta Increases Pegmont Lead-Zinc Mineral Resource to 5.8 Million Tonnes Indicated and 8.3 Million Tonnes of Inferred. Open Pit Constrained Mineral Resource now at 54% IndicatedVancouver, British Columbia--(Newsfile Corp. - August 9, 2018) - Vendetta Mining Corp. (TSXV: VTT) (\"Vendetta\" or the \"Company\") is pleased to provide the results of the updated Mineral Resource estimate for the Pegmont Lead-Zinc sulphide project in Queensland, Australia. This Mineral Resource will form the basis of the Pegmont Preliminary Economic Assessment (PEA), with a planned completion in the next 6 to 8 weeks.Highlights Include:Significant increase in the Indicated Mineral Resource from 2.2 Mt to 5.8 Mt. See Table 4.Maiden Mineral Resource for the underground Bridge Zone: Indicated 560 Kt at 9.5% Pb, 2.5% Zn, 15 g/t Ag and Inferred 309 Kt at 8.7% Pb 2.5% Zn, 14 g/t Ag. See Table 2. Open pit constrained Indicated Mineral Resource of 5.1 million tonnes at 6.2% Pb, 2.6% Zn, 15 g/t Ag and Inferred Mineral Resource of 4.4 million tonnes at 5.1% Pb, 2.2% Zn, 14 g/t Ag. See Table 3.Increasing overall grade as the Mineral Resource moves from Inferred to Indicated. Zinc grade increasing at depth. See Table 4.The updated Mineral Resource estimate was performed by AMC Mining Consultants (Canada) Limited (AMC). The estimate includes the addition of more than 22,400 m of resource development drilling conducted during 2017 by Vendetta and the results of the recent Locked Cycle metallurgical test work. The combined Mineral Resource for the open pit constrained and underground portions of the project are provided in Table 1.Table 1: July 2018 Mineral Resource Estimate (see notes for details) ClassificationMaterial typeTonnesPbZnAg(kt)(%)(%)(g/t)IndicatedTransition1,1114.92.38Sulphide4,6476.92.612Total5,7586.52.611InferredTransition1,8295.22.07Sulphide6,4475.13.19Total8,2775.12.88CIM Definition Standards (2014) were used to report the Mineral Resources.Cut-off grade applied to the open pit Mineral Resources is 3% Pb+Zn and that applied to the underground is 5% Pb+Zn.Based on the following metal prices: US$0.95/lb for Pb, US$1.05/lb for Zn, and US$16.5/oz for silver.Exchange rate of US$0.75 : A$1.0Metallurgical recoveries vary by zone and material type as follows: Lead to lead concentrate: from 80.6% to 91.3% for transition and 88.0% to 92.7% for sulphid...