Valley High Ventures Ltd. Reports Drilling at Cordero Project, Mexico
18.05.2010 | Marketwire
114 m Grading 126 g/t Ag, 0.49 g/t Au, 0.93% Zn and 2.18% Pb Including 26 m of 410 g/t Ag, 1.06 g/t Au, 2.92% Zn and 7.06% Pb VANCOUVER, 05/13/10 - Valley High Ventures Ltd. ('Valley High') (TSX VENTURE: VHV) is pleased to announce the results of an additional 11 holes completed in the phase 2 drill program at the Cordero silver, gold, zinc and lead, porphyry district located 35 kilometres northeast of Hidalgo Del Parral, Chihuahua, Mexico. Results presented in this release were drilled in the Pozo De Plata zone and the adjacent and potentially related Josephina zone. Highlights of the results include:
- Hole C10-31 at the northern limit of drilling that returned 114 metres
grading 126 g/T Ag, 0.49 g/T Au, 0.93% Zn and 2.18% Pb, an interval that
includes a high grade interval of 26 metres grading 410.1 g/T Ag, 1.06
g/T Au, 2.92% Zn and 7.06% Pb from newly recognized manto-style
mineralization.
- Hole C10-39 at the present southwest corner of the drill grid that
returned 136 metres grading 69.6 g/T Ag, 0.52 g/T Au, 0.91% Zn, 0.97%
Pb in breccia dyke and diatreme hosted mineralization.
Phase two drilling began January 12th and continues with two diamond drill rigs. In addition to the eight holes drilled in 2009, forty-two holes for a total of 15,000 metres have been completed in 2010. Assays results for the eleven most recent holes are summarized below. Sample lengths reported are core intervals and true widths are not known. Analytical results are summarized in Table 1 and hole locations and orientations are presented in Table 2. An updated drill plan maps is presented in Figure 1 and sections will be posted to the Company's website at www.valleyhighventures.com.
Pozo de Plata Diatreme Complex
Drilling at Pozo de Plata is continuing on 50 metres centres surrounding discovery hole C09-05, which was drilled in 2009. The drill pattern now encompasses an area some 350 metres by 325 metres and comprises 27 drill holes with results received for 17 complete holes. Most holes have encountered long intervals of strong poly-metallic values to vertical depths of up to 300m. Select intercepts from the recent drilling that exceed a calculated 30g/T silver equivalent cutoff are presented in Table 1 below. The current assays and core logs indicate the mineralized zone is open in all directions but may be closed off to the east by late mineral, dacite dykes and barren limestone.
All holes cored variable proportions of polylithic diatreme breccia and dyke breccia and bottomed in limestone country rock. Diatremes are comprised of limestone, rhyolite and dacite clasts with fine grained matrix and are intruded by rhyolite breccia dykes (syn-breccia dykes). Mineralization occurs as sphalerite, galena, possible silver sulphosalts and associated pyrite that occur as disseminations and early veins within clasts, within the matrix to clasts and as late cross cutting veins.
Josephine Mine Area- Southeast Extension
Holes C10-23, 25, 32 and 45 were drilled along an east west drill fence on 150 metre hole centers. Holes 23 and 32 returned several wide intervals of mineralization 300 m and 450 m (respectively) east of the Pozo de Plata drill grid within dacite breccia dikes, vein zones and mineralized diatreme breccia. Hole 23 had collectively 240 metres of mineralization in 5 intervals with the one interval of 116 metres that returned grading 49.7 g/T Ag, 0.1 g/T Au, 1.28% Zn and 0.94% Pb. Assays for holes 25 were generally low and over short intervals and results for hole 45 are pending. The mineralization encountered in holes 23 and 32 are north of the main mine trend and in an area not previously tested and may reflect a continuation of the Pozo de Plata geology to the southeast. Additional drilling will further test this area.
Airborne Geophysics
Aeroquest Geophysics is currently mobilizing to Cordero to fly a combined airborne magnetic, EM, and radiometric survey to cover the entire Cordero Porphyry Belt, which currently includes six identified intrusive centers aligned within a northeast trending belt some 15 km on strike and 3 to 5 km wide. These targets are all within lands held by the Cordero Joint Venture and covers targets that have recently been identified by surface mapping, soil sampling, trenching and limited drilling. It is expected that the geophysical survey results in conjunction with the surface data will lead to additional drill testing of new targets including the Dos Mil Diez Diatreme located two kilometres southwest of Pozo De Plata and the Molina de Viento Caldera Diatreme Complex located a further seven kilometres southwest of Pozo de Plata.
Robert Cameron, President and Chief Executive Officer of Valley High, commented: 'We continue to be very pleased with the ongoing results from this latest round of drilling at Cordero. The results from Pozo de Plata support our concept of a near surface bulk-mineable target which the current release indicates that is still open to expansion in many directions. The positive results at Josephina represents a major extension or at least a second mineralized breccia body some 400 metres farther southeast of Pozo.'
QA/QC Procedures and Reporting Parameters
HQ diameter core samples were collected in continuous two-metre lengths by sawing. All of the samples mentioned in this release were prepared and analyzed by ALS Chemex at its labs in Chihuahua, Mexico, and Vancouver, Canada. Gold analyses were performed by 30-gram fire assay with an atomic absorption finish. Silver, zinc and lead were analyzed as part of a multi-element inductively coupled argon plasma (ICP) package using a four-acid digestion with over-limit results being reanalyzed with assay procedures using ICP-AES. Summary assay intervals as reported above were selected based on a 30 g/T Ag equivalent cut-off with inclusion of up to no more than 10 metres of internal below cut-off values averaging not less than 15 g/T Ag equivalent.
The project is under the direct supervision of Vic Chevillon, MA, CPG, Levon's Vice-President of exploration. The company employs a rigorous quality assurance and quality control program that include standardized material, blanks and duplicates. AMEC Americas Ltd. has designed the QAQC protocol from a study and review of information provided by the company to AMEC. Robert Cameron, PGeo, who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this news release.
The property comprises wholly-owned claims and consolidated land agreements that total about 20,000 hectares and is being explored in a Joint Venture with Levon Resources Ltd. ('Levon'). Valley High currently holds the Cordero property through its wholly owned subsidiary in Mexico. Levon has earned its right to a 51% interest in the project and both company's are working towards the formation of a Joint Venture and are currently joint funding the current exploration program.
About Valley High Ventures Ltd.:
Valley High is a Canadian based precious and base metal exploration company with projects located in Mexico, British Columbia and Yukon. The Cordero project in Mexico (49% interest) is being evaluated for large bulk mineable silver, gold, zinc and lead deposits. The Mount Polley project is located in British Columbia adjacent to Imperial Metals Corporation's ('Imperial') Mt. Polley copper-gold mine and includes a production royalty on the Boundary Property, with Imperial. In the Yukon, Valley High has an option to acquire a 100% interest in the Flume gold property which is located within the newly recognized White Gold District. Valdez Gold Inc. has been granted a right to earn up to 75% interest in Valley High's interest in the Flume property. Coro Mining Corp. holds a 20.5% interest in valley High.
Table 1: Phase 2 Summary Drill Results
---------------------------------------------------------------------------
From To length Ag Au Zn Pb Ag Eq
Hole Zone (m) (m) (m) (g/T) (g/T) (%) (%) (g/T)
---------------------------------------------------------------------------
C10-23 Josephina 0 16 16 112.0 0.07 0.07 0.07 121
---------------------------------------------------------
118 128 10 416.5 0.13 4.80 1.76 617
---------------------------------------------------------
148 200 52 41.1 0.06 0.92 0.59 89
---------------------------------------------------------
214 260 46 16.1 0.02 0.90 0.44 57
---------------------------------------------------------
300 416 116 49.7 0.10 1.28 0.94 122
---------------------------------------------------------------------------
C10-24 Pozo No significant results.
---------------------------------------------------------------------------
C10-25 Josephina 8 16 8 68.3 0.02 0.30 0.10 81
---------------------------------------------------------
72 80 8 47.6 0.06 1.30 0.64 109
---------------------------------------------------------------------------
C10-26 Pozo 0 18 18 16.3 0.25 0.09 0.46 49
---------------------------------------------------------
130 158 28 67.7 0.51 0.84 0.94 154
---------------------------------------------------------
224 270 46 148.9 0.45 2.04 1.99 297
---------------------------------------------------------
284 328 44 14.6 0.24 0.36 0.33 51
---------------------------------------------------------------------------
C10-28 Pozo 28 46 18 37.8 0.11 0.66 0.57 81
---------------------------------------------------------
122 192 70 70.9 0.51 1.13 1.06 168
---------------------------------------------------------
278 300 22 14.0 0.20 0.30 0.28 44
---------------------------------------------------------------------------
C10-30 Pozo 6 20 14 16.0 0.15 0.09 0.38 40
---------------------------------------------------------
136 322 186 28.1 0.22 0.51 0.43 70
---------------------------------------------------------
340 356 16 68.7 0.23 3.03 1.55 218
---------------------------------------------------------------------------
C10-31 Pozo 14 32 18 29.4 0.18 0.21 0.38 58
---------------------------------------------------------
46 128 82 27.9 0.14 0.36 0.38 58
---------------------------------------------------------
158 272 114 126.0 0.49 0.93 2.18 249
---------------------------------------------------------
Incl. 186 212 26 410.1 1.06 2.92 7.06 772
---------------------------------------------------------------------------
C10-32 Josephina 230 288 58 91.8 0.10 1.99 1.09 188
---------------------------------------------------------------------------
C10-33 Pozo 12 58 46 21.0 0.09 0.20 0.28 40
---------------------------------------------------------
94 110 16 28.2 0.11 0.31 0.39 56
---------------------------------------------------------
124 198 74 65.9 1.04 0.80 1.28 196
---------------------------------------------------------
224 246 22 47.8 1.08 0.19 0.87 151
---------------------------------------------------------
284 328 44 21.1 0.13 0.18 0.33 44
---------------------------------------------------------------------------
C10-34 Pozo 16 62 46 17.2 0.07 0.35 0.21 38
---------------------------------------------------------------------------
C10-35 Pozo Assays pending.
---------------------------------------------------------------------------
C10-39 Pozo 32 168 136 69.6 0.52 0.91 0.97 159
---------------------------------------------------------
232 274 42 22.9 0.26 0.10 0.38 55
---------------------------------------------------------------------------
C10-40 Pozo Assays pending.
---------------------------------------------------------------------------
- Silver equivalent calculated using the following metal prices: silver at
$15 per ounce, gold at $1,000 per ounce, zinc at 90 cents per pound and
lead at 90 cents per pound and assumed net metal recoveries (metallurgical
and smelter deductions) of 70% for silver and gold and 50% for zinc and
lead. Actual metal recoveries have not been determined.
Table 2: Drill Hole locations (co-ordinates in CONUS Nad 27, UTM zone 13)
----------------------------------------------------------------------------
HoleID Xm Ym Zm Length_m Azimuth Dip
----------------------------------------------------------------------------
C10-23 443074 3014029 1568 500.6 0 -60
----------------------------------------------------------------------------
C10-24 442755 3014092 1552 501.7 0 -60
----------------------------------------------------------------------------
C10-25 442926 3014038 1562 500.4 0 -60
----------------------------------------------------------------------------
C10-26 442706 3014146 1554 488.8 0 -60
----------------------------------------------------------------------------
C10-28 442754 3014145 1552 463.1 0 -60
----------------------------------------------------------------------------
C10-30 442752 3014199 1586 398.7 0 -60
----------------------------------------------------------------------------
C10-31 442698 3014250 1587 392.6 351 -60
----------------------------------------------------------------------------
C10-23 443074 3014029 1568 500.6 350 -60
----------------------------------------------------------------------------
C10-33 442700 3014200 1575 341.8 348 -60
----------------------------------------------------------------------------
C10-34 442600 3014100 1575 267.0 348 -60
----------------------------------------------------------------------------
C10-35 442600 3014100 1575 494.1 0 -90
----------------------------------------------------------------------------
C10-36 442650 3014300 1580 319.7 320 -60
----------------------------------------------------------------------------
C10-37 442650 3014300 1580 420.0 354 -60
----------------------------------------------------------------------------
C10-39 442600 3014050 1580 661.0 0 -60
----------------------------------------------------------------------------
C10-40 442600 3014200 1548 490.9 0 -60
----------------------------------------------------------------------------
C10-46 442750 3014250 1592 374.0 0 -60
----------------------------------------------------------------------------
C10-47 442800 3014150 1600 285.0 0 -60
----------------------------------------------------------------------------
C10-48 442549 3014100 1574 500.0 0 -60
----------------------------------------------------------------------------
VALLEY HIGH VENTURES LTD.
Robert Cameron
President and CEO
For further information please visit Valley High's website at www.valleyhighventures.com.
This news release includes certain 'forward-looking statements' under applicable Canadian securities legislation. Such forward-looking statements or information, including but not limited to those with respect to the prices of copper, estimated future production, estimated costs of future production, permitting time lines, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of Valley High to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such factors include, among others, the actual prices of copper, the factual results of current exploration, development and mining activities, changes in project parameters as plans continue to be evaluated, as well as those factors disclosed in documents filed from time to time with the securities regulators in the applicable Provinces of British Columbia and Alberta.
To view Figure 1, please click on the following link:
http://media3.marketwire.com/docs/val512f1.pdf
'Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.'
Contacts:
Valley High Ventures Ltd.
Robert Cameron
(604) 682 5546
www.valleyhighventures.com
Renmark Financial Communications Inc.
Barry Mire
(514) 939-3989 or (416) 644-2020
bmire@renmarkfinancial.com
Renmark Financial Communications Inc.
Barbara Komorowski
(514) 939-3989 or (416) 644-2020
bkomorowski@renmarkfinancial.com
www.renmarkfinancial.com