$14 Million Phase Three Drill Program Commences At Valley High's Cordero Silver-Gold Project In Mexico
30 September 2010 - 11:19PM
Marketwired
Valley High Ventures Ltd. ("Valley High") (TSX VENTURE: VHV) is
pleased to announce the commencement of a phase three drill program
at the Cordero silver, gold, zinc and lead project located 35
kilometres northeast of Hidalgo Del Parral, Chihuahua, Mexico. The
phase three program is budgeted at $14,000,000 and will include
approximately 59,000 metres of core drilling, initial metallurgical
/ engineering studies and continued surface exploration. The
property comprises wholly-owned claims and consolidated land
agreements that total approximately 20,000 hectares and is being
explored in a Joint Venture with Levon Resources Ltd. (51% and
operator). Valley High is a 49% contributing partner to the
project.
A 59,000 metres drill program is expected to begin October 1st;
initially with two drill rigs that are currently on site and then
expanding with additional rigs in the coming months. Drilling will
be divided into three components; 1) continued definition and
step-out drilling of the discoveries at the Pozo De Plata and
Porphyry Zones, 2) initial step-out drilling from intersections
encountered in phase one and phase two drilling, particularly at
the Josefina zone and Dos Mil Diez zones, and 3) drill testing of
targets outlined by phase one and phase two exploration surveys
that included soil geochemistry, geophysics and geological
mapping.
The Pozo De Plata Zone was first drilled in October 2009 with 3
out of 4 holes, returning important values in silver, gold, zinc
and lead including exceptional values in discovery hole C09-5.
Phase 2 drilling commenced in January, 2010 and focused on 50 metre
grid drilling surrounding hole C09-5 and some larger step-outs to
the southwest towards holes C09-1 and C09-2. Drilling to date has
outlined an area of mineralization, some 465 metres long by 200
metres wide and with mineralized diatreme-hosted intervals at
depths up to 300 metres. The zone may connect with holes C09-1 and
C09-2 farther south for an additional 290 metres of potential
strike length. Pozo De Plata is a tabular mineralized diatreme
breccia with mineralized rhyolite and dacite dike swarms. Sulfide
minerals, sphalerite, galena and possible silver sulphosalts occur
as diatreme clasts, disseminated grains and massive accumulations
in the diatreme breccia matrix and veins of massive sulfide and
high grade replacement mineralization after large limestone clasts
within the diatreme.
The Porphyry Zone, located on the east side of the Cordero Dome
approximately 1,300 metres northeast of the Pozo De Plata zone
comprises a series of nested, altered and mineralized igneous
intrusive bodies (stocks) within the eastern contact zone of the
Cordero Felsic Dome Complex. It has been tested by 8 holes over a
distance of 1200 metres with encouraging results being previously
reported from several holes including hole C010-41.
Initial Metallurgical / Engineering Studies
Engineering studies in Phase three will include preliminary
metallurgical test work on the Pozo De Plata and Porphyry Zones,
initiation of work preparatory to the completion of an initial
43-101 resource estimate and other related engineering studies
including infrastructure and environmental base line studies.
Continued Surface Exploration
The majority of the large Cordero property has not been
explored. The phase three program will continue surface exploration
work including geological mapping, geochemistry and geophysics (3D
IP and gravity surveys). Initially work will focus on two areas,
the La Ceniza target, immediately northeast of the Porphyry zone
and diatremes in the Molino de Viento Caldera Diatreme Complex
located 7 km southwest of the Dos Mil Diez zone.
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. 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.
Robert Cameron, Chief Executive Officer
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.
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 (604) 614 7830
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
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