Viscount Provides Additional Interpretation of Drill Hole K26-08, and Advancing High-Priority Kate-Passiflora Trend Target at Silver Cliff
Viscount re-cut K26-08 without new assays or tonnes, confirming previously reported grades and widths for the deposit.
Viscount Mining Corp. (VML) released an additional technical interpretation of drill hole K26-08, which was originally reported on September 22, 2026. The update introduces silver-equivalent (AgEq) values and a structural narrative without adding new assay data.
The company reported the following intervals based on downhole core lengths:
- Whole hole: 184.1 m (604 ft) averaging 21.8 g/t Ag and ~0.131 g/t Au, ~30.4 g/t AgEq.
- Broader interval: 13.4 m (44 ft) at 267.6 g/t Ag and ~1.72 g/t Au, ~381 g/t AgEq, using a 15 g/t Ag cutoff.
- Higher-grade core: 7.9 m (26 ft) at 473.2 g/t Ag and 2.92 g/t Au, ~665 g/t AgEq.
- Internal zone 1: 1.8 m (6 ft) at 675 g/t Ag and 10.20 g/t Au, ~1,347 g/t AgEq.
- Internal zone 2: 1.5 m (5 ft) at 1,030 g/t Ag and 1.65 g/t Au, ~1,139 g/t AgEq.
AgEq calculations utilized a silver price of US$65.68/oz and a gold price of US$4,325.03/oz, based on September 22, 2026 reference values. The formula applied was Ag + [Au x (Au price x Au rec) / (Ag price x Ag rec)], assuming 100% recovery for both metals. Copper, lead, zinc, cadmium, and manganese were excluded from the calculation.
Viscount Mining states that K26-08 does not demonstrate that the Kate and Passiflora deposits form a single continuous body. Instead, it establishes a separate, assay-confirmed high-grade silver-gold target located approximately 1 km from the Kate resource. The April 2023 Kate resource estimate remains unchanged, comprising 10.28 moz Measured and Indicated grades at ~71 g/t and 14.22 moz Inferred grades at ~52 g/t.
The release also includes new geological content interpreting the Ben West Volcano as a possible central intrusive center. This interpretation is supported by more than 100 mapped structures and over 22 historic workings, outlining a structural framework that includes a western rim, a north-south Kate-BWV corridor, and eastern radial structures.
Viscount Mining Corp. (VML) is a pre-revenue explorer with no revenue and a net loss of C$896,212 for the nine months ended May 31, 2026. The company held working capital of approximately C$4.32M and cash of C$4.47M as of May 31, 2026. While a genuine new discovery hole can be material for a company at this stage, the recent release did not constitute a new hole.
The update provided AgEq values for an already-reported interval and a structural interpretation of the Ben West Volcano. These additions do not add metal, tonnes, or confidence in continuity, and the Kate resource remains explicitly unchanged.
The market had already priced in the identical silver grades, which were released on September 22, 2026. During that period, the stock moved from C$0.55 on September 21 to C$0.54 on September 22, closing at C$0.50 by September 24. Consequently, the K26-08 result is already reflected in the share price, leaving no embedded anchor for this release to beat or miss. The stock has not re-rated on the drill news, remaining well below the C$1.07 high recorded in December 2025. The release clears the low bar only by re-framing data the market already possesses.
Viscount Mining Corp. carries a market capitalization of approximately C$62M against a 20 moz Ag resource and a single uncorroborated high-grade interval located one kilometer away. Offset drilling, rather than this re-cut, is what would change the story. There has been no change to the resource, net asset value, or confidence levels.
Viscount Mining Corp. (TSXV: VML; OTCQX: VLMGF) is a pre-revenue explorer holding two 100%-owned assets in the western United States. Its Silver Cliff property in Colorado features the Kate Deposit, a near-surface epithermal silver resource. An April 2023 NI 43-101 report defined 10.28 million ounces of silver in the Measured and Indicated category at approximately 71 grams per tonne, and 14.22 million ounces in the Inferred category at approximately 52 grams per tonne. This represents a portion of a historic resource exceeding 100 million ounces, with conversion efforts ongoing. To the north of the Kate Deposit lies the Passiflora gold-copper porphyry target. Drill hole PF-23-03A intersected 843.9 meters at 0.214% copper equivalent, a result reported on August 14, 2025.
The company’s Cherry Creek property in Nevada is a 100%-controlled historic multi-metal district characterized by silver-gold veins, carbonate replacement deposits (CRD), jasperoid, tungsten, and antimony. The district contains more than 20 past-producing mines but currently lacks a drill-confirmed resource.
Viscount Mining has 121.77 million basic shares outstanding as of the third quarter of 2026, with a fully diluted count of approximately 151.7 million shares according to the company presentation. Insiders and close-held shareholders account for roughly 60% of the capitalization. The company is financially funded into 2026 through a US$5.3 million to US$5.6 million private placement completed in March 2026, supplemented by approximately US$4.67 million from warrant exercises. Management includes President and CEO Jim MacKenzie, CFO Scott Davis, Chairman Dr. Grant Devine, VP Exploration Mark Abrams, and Qualified Person Harald Hoegberg.