Valley High Reports Additional Drill Results at Cordero JV Project, Mexico: Pozo de Plata Zone Expanded by 180 Metres
21.09.2010 | Marketwire
VANCOUVER, 09/21/10 - Valley High Ventures Ltd. ('Valley High') (TSX VENTURE: VHV) is pleased to announce the results of the remaining drill holes completed during 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 two areas, the diatreme breccia hosted Pozo de Plata Zone and the recently identified Porphyry Zone some 1,300 metres east of Pozo de Plata. Drilling at Pozo de Plata has extended the zone an additional 180 metres south from previous limits of drilling (hole C10-39) and indicates the zone may connect with earlier drilled holes C09-1 and C09-2, an additional 225 metres to the southwest. The zone remains open to the north, west and to the south. Phase 2 drilling comprised 19,679 metres of diamond core drilling in 52 holes.Pozo De Plata
The Pozo De Plata Zone was first drilled in October 2009 with 3 out of 4 holes returning significant values in silver, gold, zinc and lead including exceptional values in discovery hole C09-5. Phase 2 drilling commenced in January, 2010 and has 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. Current limits to the zone are based on an arbitrary 30 g/T Ag equivalent cutoff, as explained below, however surrounding material is often mineralized at lower grades.
Highlights from these latest results include those from hole C10-60 that returned two intervals, the first starting from 4 metres depth for a core length of 100 metres that grades 31.7 g/T Ag, 0.08 g/T Au 0.34% Zn and 0.38% Pb, and a deeper interval starting at 228 metres that returned a 62 metre core interval that grades 22.3 g/T Ag, 0.01 g/T Au, 2.05 % Zn and 0.43% Pb. This hole is located 149 metres south of previously drilled hole C10-39 and along with nearby holes C10-52 and C10-53 indicates a 180 metre extension of the Pozo De Plata Zone. Furthermore, these holes indicate that mineralization may be contiguous with intervals encountered in holes C09-1 and C09-2 drilled in the fall of 2009, some 290 metres farther to the southwest.
The zone is also open for expansion to the north where two holes returned strong values including hole C10-46 with three mineralized intervals including 118 metres grading 51.0 g/T Ag, 0.40 g/T Au, 0.41% Zn and 0.96% Pb starting at 158 metres and hole C10-55 with 4 mineralized intervals including 60 metres grading 49.3 g/T Ag, 0.50 g/T Au, 0.54% Zn and 0.78% Pb starting at 142 metres.
Drilling to date has identified a tabular mineralized diatreme breccia zone along northeast trending, mineralized rhyolite and dacite dyke swarms, which have themselves been incorporated into the mineralized diatreme breccias. Large blocks of limestone country rocks occur as septa and clasts with the diatremes. Footwall limestone country rocks enclose the diatreme breccia bodies along highly irregular and locally, pipe-like contact surfaces. The areal extent of the diatremes has yet to be defined by drilling or mapping.
Though some sulfides are exposed at the surface, supergene weathering generally ranges to depths of 10 to 27 metres. Oxidation is minimal extending to only 25 metres depth. 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.
Porphyry Zone
The Porphyry Zone is located on the east side of the Cordero Dome approximately 1,300 metres northeast of the Pozo De Plata zone. This zone comprises a series of nested, altered and mineralized igneous intrusive bodies (stocks) within the eastern contact zone of the Cordero Felsic Dome Complex. The stocks have associated elevated Ag, Au, Zn, and Pb rock chip and soil sample anomalies and high grade Ag vein zones exploited by small scale underground workings. The stocks are presently thought to be rooted in a larger mineralized igneous intrusive body at depth, between the Cordero Felsic Dome and the La Ceniza limestone roofed stock to the northeast.
The Porphyry Zone has been tested by 8 holes over a distance of 1,200 metres with encouraging results being previously reported from holes C09-3, C09-8 and C010-41. Results presented here include significant results from holes C10-27 and C10-29 as outlined in Table 1 below.
Intervals reported below in Table 1 are core lengths and true widths are unknown.
Phase 3 Exploration Program
The recently completed phase 2 program comprised 19,679 metres of drilling, soil sampling, trenching, geological mapping and airborne geophysics. This program has focused on grid drilling of the Pozo de Plata zone, initial drill testing of the Porphyry Zone, the Josefina Zone and the Dos Mil Diez Zone as well as surface work on targets to the west covering a total strike length of 15 kilometres. This work has been successful in outlining an area of mineralization at Pozo de Plata that remains open to expansion. In addition first pass drill testing of the Porphyry and Josefina zones has returned long intervals of silver, gold, zinc and lead mineralization that require follow-up grid drilling. Surface work continues to outline targets for first drill testing throughout the property. An expanded drill intensive phase three program is currently being established.
Table 1: Phase 2 Additional Drill Results
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Ag Eq.
from to length Ag Au Zn Pb (g/T)
Hole Zone (m) (m) (m) (g/T) (g/T) % % (i)
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C10-21 no significant results
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C10-27 Porphyry 88 96 8 21.3 0.042 0.52 0.22 46
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208 248 40 22.7 0.070 0.38 0.41 50
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276 292 16 20.5 0.005 2.77 0.40 113
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310 334 24 17.9 0.022 0.26 0.31 36
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C10-29 Porphyry 70 82 12 60.6 0.490 0.61 0.35 121
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116 148 32 149.7 0.030 1.48 1.72 245
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164 182 18 10.9 0.000 1.11 0.05 44
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214 272 58 16.3 0.027 0.82 0.17 47
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288 318 30 21.7 0.028 0.33 0.13 37
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384 406 22 22.0 0.062 0.89 0.07 54
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C10-35 Pozo de 48 148 100 72.8 0.425 0.97 1.11 162
Plata
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168 202 34 33.7 0.158 0.40 0.49 70
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232 244 12 14.5 0.082 0.57 0.34 46
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324 336 12 17.4 0.001 1.61 0.29 73
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C10-36 Pozo de 0 40 40 19.6 0.122 0.14 0.23 39
Plata
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88 106 18 26.4 0.146 0.41 0.32 57
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C10-37 Pozo de 22 30 8 47.5 0.167 0.38 0.43 82
Plata
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52 68 16 50.1 0.175 0.50 0.27 84
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94 128 34 96.7 0.370 0.91 1.40 189
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C10-38 Porphyry no significant results
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C10-40 Pozo de 30 68 38 31.4 0.160 0.33 0.31 61
Plata
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92 120 28 19.5 0.166 0.38 0.24 49
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144 162 18 40.6 0.139 0.10 0.61 71
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182 236 54 111.2 0.578 0.74 1.65 220
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C10-42 Pozo de 6 132 126 30.4 0.184 0.50 0.39 69
Plata
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C10-43 Pozo de 312 348 36 25.8 0.022 1.16 0.40 73
Plata
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C10-44 Pozo de 28 66 38 55.6 0.208 0.43 0.28 90
Plata
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96 110 14 15.0 0.078 0.21 0.14 30
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C10-45 Pozo de 0 38 38 82.4 0.036 0.10 0.06 90
Plata
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108 118 10 148.2 0.042 2.37 0.79 243
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C10-46 Pozo de 0 16 16 26.4 0.144 0.05 0.45 51
Plata
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96 140 44 18.9 0.055 0.20 0.25 36
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158 276 118 51.0 0.397 0.41 0.96 117
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C10-47 Pozo de 30 68 38 31.0 0.053 0.47 0.41 60
Plata
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C10-48 Pozo de 84 96 12 64.4 0.226 1.04 0.82 134
Plata
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110 122 12 58.4 0.268 0.37 0.92 114
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280 322 42 10.5 0.004 0.67 0.17 35
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334 358 24 7.6 0.004 0.77 0.22 37
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412 436 24 10.3 0.004 1.93 0.45 80
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C10-49 Pozo de 290 314 24 12.5 0.183 0.45 0.36 48
Plata
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356 370 14 61.3 0.062 0.41 0.28 86
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C10-50 Pozo de 148 208 60 14.9 0.108 0.24 0.21 35
Plata
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306 322 16 11.0 0.003 0.83 0.14 40
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C10-51 Pozo de 66 182 116 31.2 0.191 0.51 0.40 70
Plata
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250 284 34 11.1 0.010 2.23 0.31 86
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C10-52 Pozo de 0 10 10 36.5 0.039 0.18 0.28 53
Plata
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38 120 82 30.9 0.177 0.37 0.35 64
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166 218 52 18.0 0.028 1.28 0.39 69
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C10-53 Pozo de 38 64 26 107.3 0.467 1.46 1.28 218
Plata
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78 108 30 18.8 0.096 0.29 0.25 41
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292 302 10 22.6 0.001 2.83 1.06 136
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C10-54 Pozo de 46 58 12 102.6 0.180 0.56 1.33 170
Plata
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82 96 14 14.2 0.147 0.31 0.18 38
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118 166 48 39.1 0.141 0.65 0.63 86
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182 222 40 21.8 0.596 0.45 0.39 86
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C10-55 Pozo de 74 104 30 57.7 0.335 0.76 0.81 126
Plata
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142 202 60 49.3 0.497 0.54 0.78 121
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218 240 22 11.9 0.129 0.39 0.24 39
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254 266 12 31.8 0.080 0.70 0.56 74
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C10-56 Pozo de 2 18 16 12.7 0.101 0.16 0.23 31
Plata
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142 160 18 21.9 0.136 0.56 0.17 52
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C10-57 Pozo de 90 196 106 35.2 0.195 0.72 0.56 86
Plata
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242 276 34 18.0 0.125 0.73 0.30 56
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C10-58 Pozo de 2 150 148 26.0 0.094 0.24 0.31 48
Plata
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240 250 10 16.2 0.084 0.56 0.36 49
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318 336 18 13.3 0.003 1.29 0.41 63
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350 364 14 59.5 0.011 5.41 0.75 240
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C10-59 Porphyry 14 28 14 1.7 0.040 2.40 0.01 75
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324 342 18 60.7 0.105 3.71 1.41 217
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C10-60 Pozo de 4 104 100 31.7 0.083 0.34 0.38 58
Plata
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228 290 62 22.3 0.012 2.05 0.43 96
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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 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.
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 respectively. 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.
The project is under the direct supervision of Vic Chevillon, MA, CPG, Vice-President of Exploration for Levon Resources Ltd. ('Levon'). 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 wherein Levon is 51% owner and operator of the project.
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.
Table 2: Drill Hole location (co-ordinates in CONUS Nad 27, UTM zone 13)
Elevation Length
HoleID easting northing (m) (m) Azimuth Dip
C10-21 442053.7 3013297 1532.68 320.9 0 -90
C10-27 443748.9 3014642 1561.93 385.05 270 -60
C10-29 443762.7 3014298 1563.44 463 309 -60
C10-35 442603.9 3014097 1546.26 494.1 0 -90
C10-36 442654.3 3014296 1553.83 319.7 300 -60
C10-37 442652.5 3014294 1553.65 420 0 -60
C10-38 443509.3 3014876 1570.3 381.2 329 -60
C10-40 442603.7 3014199 1548.62 490.9 0 -60
C10-42 442654.4 3014246 1566.29 490.1 0 -60
C10-43 443510.7 3014877 1582.2 417.3 145 -60
C10-44 442604.1 3014247 1559.12 478.05 0 -60
C10-45 443074.3 3014029 1567.5 332.1 170 -60
C10-46 442755.1 3014249 1573.58 374 0 -60
C10-47 442805.8 3014148 1570.93 285 0 -60
C10-48 442553.7 3014093 1555.1 439.4 0 -60
C10-49 442804.3 3014195 1573.84 455.5 0 -60
C10-50 442553.7 3014150 1555.52 347.15 0 -60
C10-51 442554.7 3014094 1555.17 418.1 180 -60
C10-52 442504.4 3013902 1549.26 328.45 0 -60
C10-53 442505.2 3013903 1549.15 423.1 180 -60
C10-54 442655.3 3013999 1555.59 348.9 0 -60
C10-55 442704.3 3014299 1569.58 342.65 0 -60
C10-56 442503.1 3013996 1551.21 311.45 0 -60
C10-57 442698.8 3014053 1559.45 503.05 0 -60
C10-58 442598 3013903 1557 459.7 0 -60
C10-59 443340 3015245 1576.9 406.8 0 -60
C10-60 442598 3013903 1557 357.8 0 -90
To view Figure 1 please click on the following link
http://media3.marketwire.com/docs/VHV0920.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.
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