Valley High Provides Flume Project Update, Whitegold District, Yukon
May 31 2010 - 2:00PM
Marketwired
Valley High Ventures Ltd. ("Valley High") (TSX VENTURE: VHV) is
pleased to report that Valdez Gold Inc. ("Valdez") has commenced
its summer exploration program on the Flume Property, Yukon
Territory, Canada by flying a detailed helicopter-borne magnetic
gradiometer and VLF-EM survey.
The detailed helicopter-borne magnetic gradiometer and VLF-EM
survey was flown at a 50 m line spacing for a total of 1,358 line
kilometres. The data is currently being processed. Geophysical
targets arising from this survey and especially those co-incident
with the previously defined, wide spaced, soil geochemical targets
will be followed up with a detailed soil geochemical sampling and
mapping programme. Field crews are to be mobilized in the first
week of June, 2010.
The Flume property lies approximately 60 km south west of Dawson
City and is located at the headwaters of Ten Mile Creek, a well
known placer mining location as well as the headwater of Sestak
Creek. Phelps Dodge Corporation of Canada ("PDC") completed
property wide, wide spaced soil sampling, geological mapping,
prospecting and limited trenching that defined two main targets,
Sestak Creek and Flume Creek, primarily characterized by elevated
gold and arsenic soil anomalies with minor anomalous antimony and
molybdenum.
Valdez has been granted the right to earn a potential 75%
interest in Valley High's Flume property located in the White Gold
District of Yukon Territory, Canada (See news release dated January
23, 2010). On June 24, 2009, Valley High entered into an option
agreement with PDC to acquire a 100% interest in the Flume
Property. PDC retains a 2% net smelter return royalty of which one
half can be repurchased by Valley High for $1 million. PDC also
retains the right to share in the proceeds derived from the sale or
option of the property to a third party in the amount of 50% of
proceeds received during the first year and 25% of the proceeds in
any subsequent year.
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.
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 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
Valley High Ltd Com (TSXV:VHV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Valley High Ltd Com (TSXV:VHV)
Historical Stock Chart
From Jul 2023 to Jul 2024