Valley High Ventures Ltd.: Drilling Commences at the Cordero Project, Mexico; Surface Work Expands Target a Further 2 Kilometres
27 Gennaio 2010 - 3:00PM
Marketwired
Valley High Ventures Ltd. ("Valley High" or the "Company") (TSX
VENTURE: VHV) is pleased to announce that a diamond drilling
program has recommenced at the Cordero silver, gold, zinc, lead,
project located 35 kilometres northeast of Hidalgo Del Parral,
Chihuahua, Mexico. Initially drilling will concentrate on continued
testing of the Pozo de Plata target, including step out drilling
from hole C09-5 that cored a long well-mineralized interval grading
152 metres of 80.64 g/T Ag, 0.61 g/T Au, 1.41% Zinc and 1.22% lead.
Other areas to be drill tested will include regions of high
chargeability and soil geochemistry, as partially drill tested in
the fall program, and additional targets being defined by a
concurrent surface program. The exploration target is a
bulk-mineable deposit geologically similar to the Penasquito
deposit currently being developed by Goldcorp Inc.
SURFACE WORK EXTENDS PORPHYRY BELT AN ADDITIONAL TWO
KILOMETRES
Field crews mobilized to the project in early January with
subsequent surface mapping and prospecting having identified
additional exposures of hematite stained diatreme breccia similar
to those at Pozo de Plata in an area of limited bedrock exposure.
Trenching has further exposed deeply weathered bedrock that has
been sampled and submitted for analysis to ALS Chemex for
processing at its labs in Chihuahua, Mexico and Vancouver, Canada.
Mapping has now delimited a two kilometre diameter area with
indications of breccia and islands of domed limestone country rocks
which is now referred to as the Dos Mil Diez zone.
With the addition of the Dos Mil Diez zone, the prospective
mineralized belt, as defined by five porphyry or intrusive centres,
has now been defined through a strike length of 8 km and a width of
about 3 km. Current exploration is focused on four of the five
intrusive centers targeting deposits geologically similar to
Penasquito, Pitarrilla and Camino Rojo.
The property comprises wholly-owned claims and consolidated land
agreements that total about 20,000 hectares wherein Levon Resources
Ltd. ("Levon") may earn a 51% interest by spending Cdn $1,250,000
plus their proportion of the underlying option and maintenance
property costs. It is anticipated that Levon will meet its earn-in
threshold shortly, and consequently, the companies are finalizing
documentation with respect to a governing joint venture agreement
wherein future costs will be borne as to 51% by Levon and 49% by
Valley High.
The project is under the direct field supervision of Mr. Vic
Chevillon, M.A., C.P.G., Levon's Vice President of Exploration and
Juan Manuel Viveros, Valley High's senior geologist. Robert
Cameron, P.Geo, 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 Company's Cordero property in Mexico is
being evaluated for large bulk mineable silver, gold, zinc and lead
deposits geologically similar to the large Penasquito deposit
currently being developed by Goldcorp Inc. Recent drill results
from Cordero include the discovery of a new zone at Pozo de Plata
wherein drill hole C09-5 returned 152 metres grading 80.64 g/T Ag,
0.61 g/T Au, 1.41% Zinc and 1.22% lead. Levon Resources Ltd. has an
option to earn a 51% interest in the project by funding exploration
work totaling Cdn. $1,250,000 plus their proportion of the
underlying option and property maintenance costs.
The Company's Mount Polley project is located in British
Columbia adjacent to Imperial Metals Corporation's ("Imperial") Mt.
Polley copper-gold mine. Valley High also has a production royalty
on the Boundary Property, with Imperial. Valley High also has an
option to acquire a 100% interest in the Flume gold property in the
Yukon which is located within the newly recognized White Gold
District some 30 kilometres from the new Golden Saddle discovery of
Underworld Resources Inc. 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, President and CEO
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. Robert Cameron (604) 682
5546 www.valleyhighventures.com
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