They Were Drilling for Silver. They Found a Copper-Gold System Underneath It.
Inside Viscount Mining’s 24-million-ounce silver deposit and the discovery that could change the whole story
Not investment advice. Disseminated on behalf of Viscount Mining Corp.
(TSX-V: VML | OTCQX: VLMGF)
Most silver exploration stories go something like this: a company finds a deposit, defines a resource, and then spends years trying to figure out if it’s big enough to matter.
Viscount Mining (🇨🇦VML / 🇺🇸VLMGF) already has the resource. An independent engineering report has confirmed 24 million ounces of silver at their Silver Cliff property in Colorado. They own it. The deposit starts near surface, which means it could potentially be mined in an open-pit configuration rather than an expensive underground operation.
That alone makes it a real story. But then they kept drilling, and found something else entirely…
The discovery underneath the deposit
While exploring Silver Cliff for silver, Viscount’s drill program intersected a copper-gold system sitting below the silver resource. They’re calling it Passiflora.
The discovery hole cut through 843 meters of mineralized rock, and a geophysical survey suggests the system could be very large, with an anomaly estimated at 665 million cubic meters.
That matters because copper-gold porphyry systems are behind some of the largest and most valuable mines on the planet. Finding one underneath a known silver deposit, on a property you already own, in a mining-friendly U.S. state, is the kind of thing that changes the trajectory of a company.
Passiflora is still early. But the scale of the geophysical anomaly and the length of the mineralized intercept suggest this isn’t a small target.
Bonanza-grade silver in the drill core
The silver resource alone would be enough to put Viscount on most investors’ radar if they were paying attention.
When miners drill, silver concentration is measured in grams per tonne. A typical producing silver mine operates on rock grading somewhere around 100 to 200 g/t. Viscount’s best intercepts at Silver Cliff have returned 1,778 g/t silver over 6.1 meters and 837 g/t silver over 15.2 meters.
In mining, grades like that are called bonanza-grade. It’s rare, and it’s the kind of result that turns a small deposit into something that gets the attention of bigger companies looking for high-quality ounces.
The 24-million-ounce resource is already defined. But with a new drill program underway and an updated resource estimate expected this year, that number could grow.
A fully funded drill program just launched
In March 2026, Viscount kicked off a 4,500-meter drill program at Silver Cliff. That’s a significant amount of drilling for a company this size, and here’s the important part: it’s fully funded. No need to issue new shares and dilute existing shareholders to pay for it.
Every drill result coming out of this program is a potential catalyst. More silver intercepts build the resource. More Passiflora intercepts build the copper-gold story. And the updated resource estimate, expected later this year, could meaningfully expand what the market thinks Silver Cliff is worth.
For a company with drills turning right now and no dilution required to keep them turning, that’s a steady stream of news flow ahead.
60% insider and close holder ownership on a small float
Insiders and close holders own approximately 60% of Viscount’s shares. That’s a level of alignment you rarely see in junior mining. When the people running the company and their inner circle have that much of their own money tied up in the stock, their incentives are directly aligned with outside shareholders.
It also means the publicly traded float is relatively small at around 120 million shares outstanding. Small float plus upcoming catalysts is the kind of setup that can produce outsized moves when news lands.
Two U.S. properties, zero geopolitical headaches
A lot of mining stories sound great until you look at where the property is. Political instability, permitting nightmares, and government interference have destroyed shareholder value in countless juniors operating in higher-risk jurisdictions.
Viscount’s properties are in Colorado and Nevada, two of the most mining-friendly states in the U.S. Stable laws, good infrastructure, road access, and none of the geopolitical risk that comes with operating overseas.
Cherry Creek, the 9,000-acre bonus most people miss
On top of Silver Cliff, Viscount owns the Cherry Creek project in Nevada. It’s 9,000 acres with more than 20 historic mines that used to produce silver and gold. Those mines were operated separately by different owners for decades, but Viscount assembled them all under one roof for the first time.
Past drilling at Cherry Creek has returned impressive results, including 320 g/t silver plus gold over 174 meters. And the property hasn’t been explored with modern technology yet.
Think of Cherry Creek as optionality that most investors aren’t pricing in. If Silver Cliff is the main event, Cherry Creek is a second act waiting in the wings.
Silver prices are doing the heavy lifting on the macro side
Silver demand is being driven by solar panels, electric vehicles, AI-related electronics, and broader industrial consumption. Meanwhile, the supply of new silver from mines continues to tighten. That supply-demand imbalance is pushing prices higher, and every dollar silver moves up makes Viscount’s 24-million-ounce resource more valuable.
And with the Passiflora copper-gold discovery sitting underneath the silver, Viscount also has exposure to copper, one of the most in-demand metals on the planet right now.
A team that’s done this before
The people running Viscount aren’t figuring this out as they go. The Chairman is a former Premier who oversaw the creation of some of the world’s largest mining companies. The CEO founded Viscount and has decades of experience in mining transactions and capital markets. The VP of Exploration brings over 30 years in the field, including work with billion-dollar producers like Agnico Eagle. And the Senior Geologist discovered and brought a mine from greenfield to full production over a 35-year career.
This is a team with the experience to advance both the silver resource and the copper-gold discovery through the stages that create real value.
The bottom line
Viscount Mining (🇨🇦VML / 🇺🇸VLMGF) is a company with a confirmed 24-million-ounce silver resource, bonanza-grade drill results, and a copper-gold discovery underneath it that could be even bigger than the silver.
A fully funded 4,500-meter drill program is underway right now. An updated resource estimate is expected this year. Insiders and close holders own about 60% of the stock. Both properties are in the U.S. And the market hasn’t caught up to the Passiflora discovery yet.
The silver story alone is real. The copper-gold story underneath it is what makes this worth watching closely, because if Passiflora turns into what the early geophysics suggest it could be, the conversation around Viscount changes completely.
The ticker is VML on the TSX Venture, or VLMGF on the US OTC.
Disclaimer: Disseminated on behalf of Viscount Mining Corp. This newsletter is for informational purposes only and is not investment advice. It is part of a paid marketing campaign. Cashu Group was compensated by Delray Capital Markets Group. for the creation and distribution of this content. Investing in early-stage exploration companies is speculative and involves significant risk, including the risk of loss of capital. All resource estimates, drill results, and share counts referenced come from the company’s public disclosures and NI 43-101 reports. Always do your own due diligence and consult a licensed financial professional before making investment decisions.