Valley High Ventures Ltd.: Cordero Joint Venture-Initial Phase III Drill Results
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/13/11 -- Valley High Ventures Ltd. ('Valley High' or the 'Company') (TSX VENTURE: VHV) is pleased to announce that Levon Resources Ltd. ('Levon'), as Operator of the Cordero Joint Venture, has reported the initial assays from the ongoing Phase III exploration and drill program ('P3 Program') currently underway at the Company's 49% owned Cordero silver, gold, zinc and lead project located 35 kilometres northeast of Hidalgo Del Parral, Chihuahua, Mexico.
The P3 Program began on October 1, 2010 and is budgeted for $14 million which includes a planned 59,000 metres of core drilling, initial metallurgical/engineering studies and continued surface exploration. An update on the P3 Program was recently provided in News Release 10-18, dated December 16, 2010. The P3 Program is fully funded with Valley High having advanced approx. $7 million to Levon to fund this exploration program.
Targets being tested and reported herein as part of the P3 Program include the areas around the Pozo De Plata and Porphyry zones, wide spaced testing of the southern edge of the Cordero Dome including south of the Josefina Mine trend and outlying targets west of Pozo de Plata.
Initial Phase III Drill Results (summarized from Levon's News Release dated January 13, 2011)
Porphyry Zone
Of the 37 holes reported, 13 holes were drilled in the Porphyry Zone, with the highlight hole being C10-87, near the northern extent of the zone, that returned multiple intervals including 124 m grading 26.3 g/T Ag, 0.019 g/T Au, 0.77% Zn, 0.60% Pb (67.8 g/T Ag equivalent). Hole C10-87 is located 240 m southwest of hole C10-41 that had returned similar encouraging values (170 m grading 17.33 g/T Ag, 0.03 g/T Au, 0.638 % Zn, 0.438 % Pb (62.9 g/T Ag equivalent).
The Porphyry zone remains open and requires continued step out drilling to delineate the mineralization.
Pozo de Plata Diatreme
Of the 37 holes reported, 20 holes were drilled in the Pozo de Plata zone with drilling N, SW, S and SE of the Pozo de Plata zone drill grid. Drilling to the NW (holes C10-63, C10-65) has limited the deposit's extent in that direction but it remains open to the south and partially to the north.
Discussion of Results
Initial drill results from the P3 drill program have tested a broad range of targets. At the Porphyry zone located some 1,100 metres northeast of the Pozo De Plata zone new drilling results from holes C10-87 and C10-72 together with previous drill results from hole C10-41 have identified an area 250 metres by 300 metres that hosts long intervals of mineralization. Additional drilling is planned for this area to fully delineate this potential new deposit. Pozo De Plata continues to be open to the south and new deep intersections to the southeast may reflect a second deeper zone in that direction. P3 drilling continues with 5 drill rigs and will continue to focus on both the Pozo de Plata deposit and the newly recognized deposit at the Porphyry zone. Additional outlying targets on this large property will also be drill tested.
Table 1 summarizes the results from the initial 37 holes (15,787.6 metres). Table 2 summarizes the drill hole locations and Figure 1 illustrates the drill hole locations.
QA/QC Procedures
All drill holes are started with HQ diameter core and then when necessary reduced to NQ diameter core depending on drilling conditions. The drill core is sawed through its length and samples collected in continuous two-metre intervals. All drill intercepts reported (Table 1) are core lengths and not true widths, which are unknown. All of the samples are prepared and analyzed by ALS Chemex at its labs in Chihuahua, Mexico, and Vancouver, Canada respectively. Gold analyses are being 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. 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 Joint Venture to AMEC. Independent Mining Consultants (IMC), Tuscon, Arizona reviews the QA/QC data.
The project is under the direct supervision of Vic Chevillon, MA, CPG, and Vice President of Exploration for Levon who is a qualified person within the context of National Instrument 43-101. 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.
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. Ryan Gold Inc (formerly Valdez Gold Inc.) has been granted a right to earn up to 75% interest in Valley High's interest in the Flume property.
VALLEY HIGH VENTURES LTD.
Geoff Chater, President
To view 'Figure 1: Drill Hole Locations', please visit: http://media3.marketwire.com/docs/VHV0113.pdf
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.
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Table 1: Initial Drill Results from Phase III Drill Program
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from to length Ag Au Zn Pb Ag Eq.
Hole Zone (m) (m) (m) (g/T) (g/T) % % (g/T)
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Pozo de Plata
C10-61 Diatreme 12 88 76 35.8 0.121 0.6 0.4 24.5
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C10-61 112 124 12 21.1 0.038 0.2 0.2 33.9
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C10-61 190 206 16 14 0.001 1.49 0.32 67.6
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Pozo de Plata
C10-62 Diatreme 228 254 26 130.7 0.026 0.39 0.21 149.9
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C10-62 270 276 6 20.8 0.021 1.57 0.59 85.3
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C10-62 286 310 24 23 0.025 0.79 0.73 68.9
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C10-62 346 382 36 10.8 0.014 1.1 0.19 49.3
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Pozo de Plata
C10-63 Diatreme No significant intervals
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Pozo de Plata
C10-64 Diatreme 226 272 47 21.8 0.018 1.72 0.45 86.6
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Pozo de Plata
C10-65 Diatreme No significant intervals
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C10-66 Porphyry 78 88 10 24 0.012 1.35 0.14 68.2
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C10-66 254 260 6 732.9 0.042 6.44 1.08 955.3
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C10-66 456 474 18 4.2 0.013 1.13 0.05 39.4
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Pozo de Plata
C10-67 Diatreme 4 12 8 42.6 0.04 0.12 0.31 57.9
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C10-67 58 100 42 21.6 0.191 0.34 0.28 52.3
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C10-67 138 150 12 26.4 0.081 0.98 0.43 73.1
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C10-67 168 178 10 8 0.017 0.59 0.26 33.9
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Pozo de Plata
C10-68 Diatreme 218 232 14 9.6 0.011 1.13 0.31 52.6
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C10-68 244 256 12 27.6 0.026 0.68 0.56 65.3
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C10-68 314 332 18 39.9 0.026 2.4 0.41 123.9
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C10-68 352 366 14 27.7 0.01 1.67 0.23 83.9
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Pozo de Plata
C10-69 Diatreme No significant intervals
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Pozo de Plata
C10-70 Diatreme 56 86 30 23.3 0.107 0.28 0.22 45
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C10-70 168 174 6 7.1 0.005 0.8 0.15 34.5
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C10-70 182 194 12 8.1 -0.005 2.14 0.35 80.5
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Pozo de Plata
C10-71 Diatreme 2 6 4 367 0.254 0.03 1.07 416
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C10-71 40 74 34 19.1 0.259 0.26 0.19 49.4
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C10-72 Porphyry 166 216 50 25.1 0.014 0.68 0.61 63.6
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C10-72 252 286 34 26.8 0.026 0.79 0.77 74
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C10-72 380 394 14 19.3 0.028 0.63 0.43 52.2
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C10-73 Porphyry No significant intervals
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Pozo de Plata
C10-74 Diatreme 314 320 6 11.4 0.013 1.01 0.24 48.9
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Dos Mil Diez
C10-75 Diatreme No significant intervals
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Dos Mil Diez
C10-76 Diatreme No significant intervals
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Pozo de Plata
C10-77 Diatreme 4 14 10 25.5 0.035 0.24 0.15 39.4
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C10-77 116 126 10 8.7 0.341 0.19 0.12 40.6
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C10-77 436 450 14 21.1 0.008 2.46 0.59 110.6
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Pozo de Plata
C10-78 Diatreme 14 22 8 14.4 0.099 0.33 0.18 35.9
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C10-78 30 40 10 16.3 0.062 0.11 0.1 26.6
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C10-78 120 140 20 13.3 0.039 0.38 0.16 31.6
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C10-78 322 330 8 2.1 0.009 1.15 0.05 37.9
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Pozo de Plata
C10-79 Diatreme 140 156 16 62.3 0.216 0.18 0.35 92.2
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C10-79 172 198 26 63.3 0.271 0.52 0.9 123.1
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C10-79 208 288 80 41.4 0.499 0.29 0.62 101.2
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C10-79 300 310 10 25.2 0.138 0.43 0.4 58.6
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C10-79 346 366 20 13.67 0.01 1.12 0.2 53.41
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Pozo de Plata
C10-80 Diatreme 176 198 22 10.7 0.048 0.55 0.21 36.2
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C10-80 224 238 14 21.4 0.044 0.77 0.36 57.2
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C10-80 284 324 40 12.3 0.009 1.62 0.26 67.8
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Pozo de Plata
C10-81 Diatreme No significant intervals
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Pozo de Plata
C10-82 Diatreme 278 328 50 43.1 0.052 1.65 1.32 133.4
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Pozo de Plata
C10-83 Diatreme 180 224 44 40.1 0.57 0.22 0.54 100.2
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C10-83 250 270 20 9.1 0.031 0.48 0.19 30.8
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Pozo de Plata
C10-84 Diatreme 178 224 46 34.7 0.01 2.23 0.57 117
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Pozo de Plata
C10-85 Diatreme 252 290 38 23.5 0.018 1.52 0.52 84.2
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Oesta Pozo de
C10-86 Plata No significant intervals
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C10-87 Porphyry 12 18 6 20.2 0.025 0.19 0.33 42.8
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C10-87 44 60 16 26.3 0.012 0.8 0.45 63.6
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C10-87 66 114 48 27.1 0.019 0.84 0.48 66.8
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C10-87 128 252 124 26.4 0.019 0.77 0.6 67.8
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C10-87 306 364 58 23.1 0.029 0.45 0.33 47.7
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C10-87 524 536 12 14.8 0.018 0.26 0.23 30.2
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C10-88 Josefina Zone 190 204 14 6.6 0.055 0.52 0.11 28.9
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C10-89 Porphyry No assays reported, hole lost at 23 m
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C10-90 Porphyry Assays Pending
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C10-91 Porphyry No significant intervals
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C10-92
to 97 Porphyry Assays Pending
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(i) Silver equivalent grade, based on assumed recoveries, is calculated
using the following metal prices: silver at $15 per ounce, gold at $1,000
per ounce, zinc at 90 cents per pound, lead at 90 cents per pound and
assumed recoveries (metallurgical and smelter deductions) of 70% for silver
and gold and 50% for zinc and lead. Actual metal recoveries have not been
determined. Summary assay intervals as reported above were selected based on
a 22.64 g/T Ag equivalent cut-off over significant widths that by inspection
show geochemical consistency down the hole among the 2 m sample intervals.
Table 2. Phase three drill hole locations (map projection UTM Nad 27 Conus, Zone 13)
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Table 2: Phase III Drill Hole Locations (Map Projection UTM Nad 27 Conuc,
Zone 13)
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HoleID X Y Z Length Azimuth Dip
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C10-61 442596 3013904 1571 433.8 180 -60
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C10-62 442774 3013965 1575 449 180 -60
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C10-63 442498 3014249 1569 340.35 0 -60
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C10-64 442799 3013818 1574 446 180 -60
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C10-65 442500 3014247 1569 383.4 180 -60
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C10-66 443618 3014008 1585 529 0 -90
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C10-67 442504 3013901 1560 389.1 0 -90
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C10-68 442799 3013816 1569 448 0 -90
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C10-69 442700 3014400 1570 407.5 0 -60
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C10-70 442400 3013800 1520 476.8 0 -60
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C10-71 442400 3013800 1520 459.65 180 -60
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C10-72 443394 3015092 1600 458.45 0 -90
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C10-73 443620 3014009 1585 419.95 0 -60
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C10-74 442706 3014502 1589 395.45 0 -60
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C10-75 440698 3012700 1569 164.3 0 -90
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C10-76 440698 3012700 1569 137.15 65 -60
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C10-77 442700 3013847 1568 535.65 0 -60
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C10-78 442402 3013798 1567 488.15 0 -90
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C10-79 442702 3014496 1585 462.65 180 -60
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C10-80 442700 3013847 1568 451.05 0 -90
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C10-81 442900 3013795 1573 101.55 0 -60
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C10-82 442901 3013814 1572 430 0 -60
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C10-83 442600 3014400 1575 463.95 180 -60
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C10-84 442699 3013847 1570 444.75 180 -60
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C10-85 442903 3013818 1572 406.65 180 -60
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C10-86 441750 3013420 1570 310.2 315 -60
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C10-87 443300 3015000 1611 594.4 0 -90
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C10-88 443300 3013900 1586 529.7 0 -60
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C10-89 443700 3014500 1562 23.5 0 -90
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C10-90 443700 3014450 1570 862.95 0 -90
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C10-91 443618 3014110 1589 659.85 0 -90
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C10-92 443522 3015101 1591 936.55 0 -90
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C10-93 443296 3014998 1611 446.9 0 -60
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C10-94 434549 3011002 1618 151 0 -90
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C10-95 443304 3013901 1586 409.55 180 -60
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C10-96 434650 3012050 1617 423 0 -90
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C10-97 443299 3014994 1609 317.7 150 -60
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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.
Geoff Chater
President
(604) 614 7830
www.valleyhighventures.com