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Vendetta (TSXV: VTT) Reports Metallurgical Test Work and Demonstrates High Lead and Zinc Recoveries and Concentrate Grades from the Pegmont Lead-Zinc Project

 

Vancouver, British Columbia - March 5, 2018 (Newsfile Corp.) (Investorideas.com Newswire) Vendetta Mining Corp. (TSXV: VTT) (the "Company") is pleased to announce the completion of the Locked Cycle Flotation metallurgical test work at the Pegmont Lead-Zinc Project in Queensland, Australia. These results are from drilling in Zones 2, 3 and the connecting Z Fold.

Highlights:

The results highlight that saleable high quality concentrates can be produced for both lead and zinc over the zones tested and that the results are very consistent. Transition Zone material produced a metallurgical performance equivalent to the sulphide zones.

Metallurgical testing of the Pegmont Lead-Zinc Mineral Resource has now included sulphide mineralisation from Zones 1, 2, 3 and the Bridge Zone plus transition mineralisation from Zone 1. This complements metallurgical testing of the sulphide mineralisation from the Burke Hinge Zone and Zone 5 lens B and C plus transition mineralisation from Burke Hinge Zone which was conducted at the end of 2016 (see Vendetta news release March 6th 2017, VTT2017 NR#1).

Composites were produced from quarter and half NQ and HQ diamond drill core taken from between 2 and 5 drill holes per composite. The objective of the current testing was to confirm the grades and recoveries for both Lead and Zinc concentrates over a broader spread of the Pegmont Mineral Resource, the distribution of the metallurgical samples is shown in Figure 1. For Zones 1, 2 and 3, within the open pit shell, mining dilution was simulated by taking an additional 0.5 m of core from either side of the mineralised zone being tested. For the Bridge Zone the dilution interval was increased to 1.0 m on the hanging wall and 0.5 m on the footwall to reflect the impact of the likely underground mining method, although considered a conservative approach. Composite grades are shown in Table 1.

The samples were subjected initially to Open Cycle Flotation testing to establish test conditions for the Locked Cycle Flotation testing, which provides a better estimation of the likely plant performance under continuous operation with recycling of intermediate grade streams.

The Grade and Recovery performance from the locked cycle flotation testing is shown in Table 1.

Michael Williams, Vendetta's President and CEO commented "The metallurgical results presented here continue to demonstrate the value of the open pit potential in Zone 1, 2 and 3, and of the adjacent Bridge Zone underground target. We are particularly pleased with the performance of the Zone 1 Transition material, with validation of this near surface, low strip material we will look to add additional Transition tonnes as part of the 2018 program."

Table 1. Composite Details, Locked Cycle Recoveries and Concentrate Grades
* Transition mineralization is defined as predominately sulphide lead-zinc mineralization in variably weathered rocks, with high iron oxide mineralogy.

Impurity analyses for the lead and zinc concentrates are not yet available. The head grades of potential impurity elements are of a similar order as for the composites tested 2016/2017. In the previous round of testing no significant deleterious elements were identified in the concentrates.

The Pegmont sulphide resource is hosted in quartz, garnet, chlorite and magnetite and the sulphide minerals are galena, sphalerite and minor pyrite and pyrrhotite. Optical mineralogy has shown that the majority of the galena and sphalerite are liberated at the primary grind size of p80 passing 106 microns but that there is a minor proportion of finely associated galena and sphalerite composites. These composites require regrinding to finer than 20 microns to achieve satisfactory liberation.

The flotation regime chosen for the selective flotation of the lead and zinc concentrates for the Pegmont composites uses industry standard reagents at usage levels that are typical of many lead-zinc flotation operations. The circuit tested is also industry typical with a roughing stage followed by regrind of the rougher concentrates and then two stages of closed cycle cleaning. The regrind used was 15 and 10 kWh/t for the lead and zinc circuits respectively. The circuit used is shown in Figure 2.

The four sulphide zone composites were subjected to Bond Ball Mill Work Index testing. The results varied from 18.4 to 20.9 kWh/dry metric tonne. This is consistent with the results from Burke Hinge Zone and Zone 5 where results ranged from 16.6 to 19.4 kWh/dry metric tonne. This would place the ore in the medium-hard to hard range.

The tests were performed by ALS Metallurgy in Burnie Tasmania under the supervision of Vendetta's consulting metallurgist Mr Geoff Richmond.

Figure 1. Surface Map Showing the location of 2017 Metallurgical Samples

Figure 2. Locked Cycle Flotation Flowsheet for Separate Lead and Zinc Concentrates

About The Pegmont Lead Zinc Project

Pegmont is a stratiform, Broken Hill-Type deposit that outcrops with an overall shallow dip to the south east and is hosted in a magnetite-rich banded iron formation within high grade metamorphic rocks. The project consists of three granted mining leases and one exploration permit that cover an area of approximately 8,290 ha.

Pegmont is situated in the Mount Isa — McArthur Mineral Province, which hosts one of the world's richest endowments of lead-zinc-silver mineralization, including several world-class lead-zinc-silver mines.

Pegmont is located 25 km west of South 32's Cannington silver-lead-zinc operation, one of the world's largest producers of lead and silver and 28 km north of Chinova Resources' Osborne copper-gold operations. Pegmont is proximal to existing infrastructure including public roads, mine haul roads, rail, and a natural gas pipe line for power generation.

In June 2017 Vendetta updated the Mineral Resource estimate for Pegmont, for details please see Vendetta's news release, VTT2017-NR#6, June 27th, 2017 and the NI 43-101 technical report "Pegmont Resource Update June 2017" available on SEDAR.

The Company expects to complete an updated NI 43-101 technical report in Q1, 2018.

About Vendetta Mining Corp.

Vendetta Mining Corp. is a Canadian junior exploration company engaged in acquiring, exploring, and developing mineral properties with an emphasis on lead and zinc. It is currently focused on the advanced stage Pegmont Lead Zinc project in Queensland, Australia. Additional information on the Company can be found at www.vendettaminingcorp.com.

Qualified Person

Peter Voulgaris, MAusIMM, MAIG, a Director of Vendetta, is a non-independent qualified person as defined by NI 43-101. Mr. Voulgaris has reviewed the technical content of this press release, and consents to the information provided in the form and context in which it appears.

Geoff Richmond FAusIMM, a Consulting Metallurgist to Vendetta, is a qualified person as defined by NI 43-101. Mr Richmond has reviewed the metallurgical technical content of this press release, and consents to the information provided in the form and context in which it appears.

ON BEHALF OF THE BOARD OF DIRECTORS

"Michael Williams"

Michael Williams
President & CEO
604-484-7855

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. Certain statements within this news release, other than statements of historical fact relating to Vendetta Mining Corp., are to be considered forward-looking statements with respect to the Company's intentions for its Pegmont project in Queensland, Australia. Forward-looking statements include statements that are predictive in nature, are reliant on future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "considers", "significant", "intends", "targets", "estimates", "seeks", attempts", "assumes", and other similar expressions.

The forward-looking statements are based on a number of assumptions which, while considered reasonable by Vendetta Mining Corp., are, by their nature, subject to inherent risks and uncertainties and are not guarantees of future performance. Factors that could cause actual results to differ materially from those in forward-looking statements include: the interpretation of previous and current results from the 2017 drilling program mentioned in this news release, further results from the 2017 drilling program, the accuracy of exploration results, the accuracy of Mineral Resource Estimates, the anticipated results of future exploration, the forgoing ability to finance further exploration, delays in the completion of exploration, delays in the completion of the updated Mineral Resource Estimate, the future prices of lead, zinc, and other metals, and general economic, market and/or business conditions. There can be no assurances that such statements and assumptions will prove accurate and, therefore, readers of this news release are advised to rely on their own evaluation of the information contained within. In addition to the assumptions herein, these assumptions include the assumptions described in Vendetta Mining Corp.'s Management's Discussion and Analysis for the three months ended August 31st, 2017.

Although Vendetta Mining Corp. has attempted to identify important risks, uncertainties and other factors that could cause actual performance, achievements, actions, events, results or conditions to differ materially from those expressed in or implied by the forward-looking statements, there may be other risks, uncertainties and other factors that cause future performance to differ from what is anticipated, estimated or intended. Unless otherwise indicated, forward-looking statements contained herein are as of the date hereof and Vendetta Mining Corp. does not assume any obligation to update any forward-looking statements after the date on which such statements were made, except as required by applicable law.


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