Colorado Silver Drilling Hits 1030 g/t Beyond the Existing Resource

Key Takeaways:

Viscount Mining reported silver mineralization beyond the existing Kate Silver Resource boundary, with all ten holes in its approximately 830-meter Silver Cliff drill program located outside the currently defined resource.
The strongest Silver Cliff result came from hole K26-08, which returned 7.9 meters grading 473.2 g/t silver and 2.92 g/t gold, including 1.5 meters grading 1,030 g/t silver and 1.65 g/t gold.
Five of six Kate resource-expansion holes returned qualifying mineralized intervals using a 15 g/t silver cutoff, while the company said the newly encountered mineralization was not currently included in the existing resource's modeled tonnes or ounces.
Viscount planned additional work at Silver Cliff, including soil-geochemical work, further analysis, and a follow-up drilling program later in 2026, while evaluating the timing of an updated Kate mineral resource estimate.

Viscount Mining Corp. (VML:TSX.V; VLMGF:OTCQX) reported final assay results from its ten-hole, approximately 830-meter 2026 drilling program at the Silver Cliff Project in Custer County, Colorado, with all ten drill sites located outside the currently defined Kate NI 43-101 resource boundary.

The drill sites ranged from 67.7 meters to approximately 1 kilometer from the Kate Silver Resource outline. Six holes tested Kate's resource-expansion ground between 67.7 and 117.7 meters from the existing resource, while four northern holes tested the broader structural trend between 573.6 meters and approximately 1 kilometer from the resource.

The strongest assay results of the program came from K26-08, which returned 13.4 meters, averaging 267.6 grams per tonne silver. That interval included 7.9 meters grading 473.2 g/t silver and 2.92 g/t gold, including 1.5 meters grading 1,030 g/t silver and 1.65 g/t gold. A separate 1.8-meter interval within the same higher-grade core graded 675 g/t silver and 10.20 g/t gold. The entire 184.1-meter assayed hole averaged 21.8 g/t silver.

Using a 15 g/t silver cutoff for the 2026 results, three holes averaged more than 20 g/t silver across their entire assayed lengths. K26-04 averaged 28.9 g/t silver over 56.4 meters, K26-08 averaged 21.8 g/t silver over 184.1 meters, and K26-09 averaged 21.7 g/t silver over 62.3 meters.

Five of the six Kate resource-expansion holes returned qualifying composite intervals at or above the 15 g/t silver cutoff. K26-04 returned 45.7 meters, averaging 34.1 g/t silver, including 24.4 meters, averaging 48.9 g/t silver. K26-09 returned 18.0 meters averaging 46.0 g/t silver, including 6.1 meters averaging 93.2 g/t silver and 1.5 meters grading 182 g/t silver. K26-10 returned 12.5 meters, averaging 15.3 g/t silver, including 4.0 meters, averaging 54.1 g/t silver.

Project Manager and Geologist Chrissy Ricks said, "Applying the 15 g/t silver cutoff highlights the breadth and more continuous zones of silver mineralization across the 2026 drilling. The drill program has significantly advanced the Silver Cliff story, strengthening both our open-pit resource-expansion opportunity at Kate and the broader exploration potential to the north."

The four northern holes tested soil-geochemical anomalies along the structural trend the company is evaluating between Kate and Passiflora. K26-07 returned 15.9 meters, averaging 28.1 g/t silver, including 1.2 meters grading 212 g/t silver and 0.38 g/t gold. K26-08, drilled toward the company's PF-03A porphyry discovery hole at Passiflora, produced the strongest silver-gold assays of the program.

The program also returned manganese, zinc, and lead anomalies across the drill-core samples assayed. Manganese exceeded 1,000 ppm in 196 of 506 samples, including 76 samples above the laboratory's 1,000 ppm upper reporting limit for the routine analytical method. Zinc exceeded 1,000 ppm in 146 of 506 samples, while lead exceeded 1,000 ppm in 116 of 506 samples.

The current April 2023 Kate mineral resource remains unchanged by the 2026 drilling and contains 10.275 million ounces of silver in the measured and indicated categories at an average grade of approximately 71 g/t silver, plus 14.215 million inferred ounces at approximately 52 g/t silver. The company said the mineralization encountered beyond the existing resource boundary is not currently included in the modeled tonnes or ounces.

Silver and Gold Hold Strong Annual Gains Despite Rate Pressure

Gold traded around US$4,280 per ounce on September 25 and remained up approximately 13.3% over the previous year, according to Trading Economics. The metal was down more than 1% for the week as elevated U.S. Treasury yields and expectations for additional Federal Reserve rate hikes weighed on prices. Trading Economics reported that traders had priced in a nearly 70% probability of an October rate hike and a 95% probability of another increase in December. Gold demand in India had also picked up modestly as lower prices attracted buyers ahead of the festive season.

Silver traded at US$64 per ounce on Friday, according to Trading Economics, and had gained approximately 40% over the previous year despite declining about 5% over the preceding month. The market data provider described silver as a precious metal with both industrial and investment applications, noting its use in electronics, solar panels, and medical technologies, as well as its role as a store of value and portfolio diversification tool.

Trading Economics said, "Silver prices are influenced by both industrial demand and investor sentiment."

In a September 24 report, Investing News Network described a volatile year for the metal, noting that silver had reached a record above US$121 per ounce in late January before giving back roughly half of that advance by the end of summer. By the third week of September, it had traded around US$65 per ounce, which the report said was still close to 50% higher than a year earlier.

On September 23, Silver Stock Investor's Peter Krauth described Viscount Mining's final Silver Cliff assays as "impressive" and said the results were "exactly what I've been patiently waiting for."

The report also examined how those market conditions had affected silver development strategies. Investing News Network wrote, "Greenfield silver mines are slow," citing the sequence of resource definition, economic studies, environmental assessment, community agreements, infrastructure, and financing typically required before production. It added, "Projects that already have underground workings, a mill, permits or benefit agreements in place can skip parts of that sequence."

Kitco News reported on September 24 that the physical silver market had continued to face historically tight liquidity. According to the report, roughly 83% of silver held in London vaults had been locked inside physically backed investment products, leaving approximately 136 million ounces available for trading and leasing, which the source described as a record low.

Iggy Ioppe, Chief Investment Officer at Theo, told Kitco that tight physical availability had kept silver lease rates above levels seen before 2025. "With the free float near a record low, and lenders still earning around 2.3% a year on three-month silver this month, several times the pre-2025 norm, that income is more valuable than it's been in years," Ioppe said.

Kitco also reported that silver's industrial demand remained an important component of the market. Abhi Pingle, co-founder of Theo, discussed demand associated with solar installations and said alternative materials could have drawbacks involving resilience, corrosion, and energy-conversion performance. He also described silver financing products as "ultra-short duration," adding, "So they are just kind of like fixed-income-plus or like money-market-plus products."

Silver Stock Investor Calls Viscount 'Attractive at Current Levels'

On September 23, Silver Stock Investor's Peter Krauth described Viscount Mining's final Silver Cliff assays as "impressive" and said the results were "exactly what I've been patiently waiting for." He highlighted K26-08's 13.4 meters averaging 267.6 g/t silver, including 7.9 meters at 473.2 g/t silver and 2.92 g/t gold, as a "particularly exciting high-grade discovery north of Kate."

Krauth also pointed to the Kate-area step-out drilling, where five of six holes returned qualifying mineralized intervals using a 15 g/t silver cutoff. He noted that the zones were outside the current resource and therefore were not included in the existing 24.49-million-ounce Kate resource. Looking beyond Kate, he wrote that the northern drilling had outlined "a broader polymetallic silver-gold-lead-zinc system toward the Passiflora target," while widespread manganese enrichment had added what he called "another intriguing exploration angle."

Discussing the planned follow-up work, Krauth wrote, "Follow-up drilling could confirm continuity and geometry, and the new results could support a future resource expansion." He added, "I expect a lot more similarly strong and likely even better results to come."

Krauth did not provide a formal target price or a formal Buy rating in the supplied source, but he gave an investment recommendation, writing that the shares were "attractive at current levels and on weakness."

Follow-Up Drilling, Resource Work, and Exploration Programs Ahead

Viscount's Q3 2026 investor presentation outlined additional work at Kate, Passiflora, and the company's Cherry Creek project. The company described its 2026 program as fully funded and said its ten-hole Kate core program and Rosor airborne electromagnetic and magnetic survey field work at Silver Cliff had been completed.

At Kate, SLR Consulting was engaged in April 2026 to re-analyze cutoff grades using current silver pricing. The presentation identified a revised NI 43-101 resource at Kate based on the SLR study and 2026 drill results as upcoming work, while the company's latest release said it would evaluate the appropriate timing for an updated mineral resource estimate after sufficient follow-up drilling and technical review.

The newly reported assays are also being used to refine the next phase of exploration at Silver Cliff. Planned work includes a new soil-geochemical survey across the resource-expansion area and adjacent ground. Viscount plans to integrate those results with the 2026 drill assays, geological observations, and existing geophysical information to rank follow-up targets around Kate and along the northern structural trend.

The company also plans higher-range re-analysis of selected samples that exceeded routine laboratory reporting limits. Viscount said 76 manganese samples exceeded the routine method's upper reporting limit, meaning their actual manganese grades have not yet been determined.

An initial follow-up drilling program is planned for later in 2026. Final collar locations and priorities are expected to be selected after completion of the soil survey and technical integration, with drilling intended to test priority resource-expansion and northern trend targets. Ricks said the company was "currently preparing for a follow-up 10-hole drill program this year."

Passiflora represents a separate drilling program. The investor presentation said the discovery hole PF-03A intersected 843.9 meters of continuous copper-gold porphyry mineralization at 0.214% CuEq, including higher-grade zones of 189 meters at 0.326% CuEq and 45 meters at 0.417% CuEq. Viscount's 2026 program called for a minimum of three deep holes targeting priority zones within the Quantec Titan MT conductive anomaly.

The Quantec survey delineated a conductive anomaly from approximately 400 to 1,500 meters depth, spanning roughly 1.4 kilometers southwest to northeast by at least 700 meters in width and remaining open to the northwest. The presentation cautioned that geophysical anomalies are not a direct measure of mineralization. The company's 2026 action plan listed commencement of the next phase of deep drilling at Passiflora among its upcoming activities.

At Cherry Creek in Nevada, Viscount's presentation described a 100%-owned land position consisting of 219 unpatented and nine patented claims plus mill rights. The company initiated a targeted tungsten evaluation program in July 2026, following data integration work and historical mining. Viscount said multiple discrete zones of elevated tungsten had been identified across the property.

Streetwise Ownership Overview*

Viscount Mining Corp. (VML:TSX.V; VLMGF:OTCQX)

Restructures

Date	Old Symbol	Old Shares	New Symbol	New Shares
07/25/13	FSR.P:TSXV	2	VML:TSXV	1

^*Share Structure as of 9/25/2026

The company's action plan called for continued field work and drill-target planning at Cherry Creek. Together with the planned Kate resource revision and drilling and the next phase of deep drilling at Passiflora, those programs comprised the principal upcoming exploration work identified in Viscount's Q3 2026 presentation.

Ownership and Share Structure¹

Management and insiders hold 2.80% of Viscount, with Institutions owning 1.65%. The rest is retail.

Viscount Mining has a market cap of approximately CA$62.05 million, 134.90 million outstanding shares, and a 52-week range of CA$0.23 - CA$1.08.

Frequently Asked Questions

What were Viscount Mining's latest Silver Cliff drill results?

Viscount Mining Corp. reported final assay results from its ten-hole, approximately 830-meter 2026 drilling program at the Silver Cliff Project in Custer County, Colorado. All ten drill sites were outside the currently defined Kate NI 43-101 resource boundary.

What was Viscount Mining's highest-grade silver intercept at Silver Cliff?

Hole K26-08 returned 13.4 meters, averaging 267.6 g/t silver, including 7.9 meters grading 473.2 g/t silver and 2.92 g/t gold. The higher-grade interval included 1.5 meters grading 1,030 g/t silver and 1.65 g/t gold, while a separate 1.8-meter interval graded 675 g/t silver and 10.20 g/t gold.

Did Viscount Mining find silver outside the Kate Silver Resource?

Yes. All ten 2026 drill sites were outside the currently defined Kate NI 43-101 resource boundary. Six holes tested Kate resource-expansion ground between 67.7 and 117.7 meters from the existing resource, and five of those six returned qualifying composite intervals using a 15 g/t silver cutoff.

How large is Viscount Mining's Kate Silver Resource?

The April 2023 Kate mineral resource contained 10.275 million ounces of silver in the measured and indicated categories at an average grade of approximately 71 g/t silver, plus 14.215 million inferred ounces at approximately 52 g/t silver. The resource remained unchanged by the 2026 drilling.

Could the 2026 Silver Cliff drilling expand the Kate Silver Resource?

The newly encountered mineralization was not included in the current modeled tonnes or ounces because the intercepts occurred beyond the existing resource boundary. Viscount said that if follow-up drilling demonstrated sufficient continuity, geometry, thickness, and grade, the new data could support extension of resource wireframes and the addition of mineralized tonnage and contained ounces in a future updated mineral resource estimate. The 2026 results themselves did not constitute an increase in the current mineral resource.

What are Viscount Mining's next steps at Silver Cliff?

Viscount planned additional soil-geochemical work, integration of the new soil data with the 2026 assays and existing geological and geophysical information, higher-range re-analysis of selected samples, and an initial follow-up drilling program later in 2026. The company was also evaluating the appropriate timing for an updated Kate mineral resource estimate.

What is the Passiflora target at Silver Cliff?

Passiflora is a copper-gold porphyry target at Silver Cliff. Viscount's investor presentation reported that the discovery hole PF-03A intersected 843.9 meters of continuous copper-gold porphyry mineralization at 0.214% CuEq, including 189 meters at 0.326% CuEq and 45 meters at 0.417% CuEq.

What additional drilling has Viscount Mining planned at Passiflora?

Viscount's 2026 program called for a minimum of three deep holes targeting priority zones within the Quantec Titan MT conductive anomaly. Its action plan also identified the commencement of the next phase of deep drilling at Passiflora as upcoming work.

What did third-party silver writer Peter Krauth say about Viscount Mining?

Silver Stock Investor's Peter Krauth described the final Silver Cliff assays as "impressive" and said the results were "exactly what I've been patiently waiting for." He concluded that the shares were "Attractive at current levels and on weakness." The supplied commentary did not include a formal target price or a formal Buy rating.

Want to be the first to know about interesting Silver investment ideas? Sign up to receive the FREE Streetwise Reports' newsletter.