Valley High Ventures-Cordero Project Update
December 16 2010 - 9:32AM
Marketwired
Valley High Ventures Ltd. ("Valley High", or the "Company") (TSX
VENTURE: VHV) is pleased to provide an update on the phase three
exploration program currently underway at the Company's 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. (Levon) (51% and operator).
Valley High is a 49% contributing partner to the project.
Phase Three Interim Highlights (summarized from Levon news
release dated December 15, 2010)
-- Four core rigs are currently on site and a fifth core rig will be added
in January, 2011. Drilling is being conducted 24 hours per day, 7 days a
week.
-- Since October 1, 2010, 37 drill holes have been completed for a total of
13,071 metres. The primary focus of drilling thus far includes;
- Grid and step out drilling at the Pozo de Plata zone including the
Josefina Mine zone.
- Step out drilling from discovery holes at the Porphyry zone, 1.3
kilometres to the northeast of Pozo de Plata.
- Testing new induced polarization (IP) conductivity anomalies at the
Molina de Viento Caldera diatreme target, 7 kilometres to the
southwest of Pozo de Plata.
-- New drill targets have been identified at the southern extension of the
Porphyry zone and the Pastura Sur target which is located to the south
of Pozo de Plata.
-- 3D IP surveys are being carried out over the Poza de Plata, Dos Mil Diez
and Molina de Viento diatreme complexes as well as the La Ceniza stock,
Codero Porphyry and Pastura Sur targets. IP results will be integrated
with gravity, magnetic, radiometric, geology and surface sample results
to target drilling.
-- A ground orientation survey utilizing high resolution magnetotelluric
extremely low frequency (ELF) has been contracted to determine its
effectiveness for profiling porphry style alteration and mineralization
at depth.
-- Independent Mining Consultants, Tucson Arizona have been retained to
prepare an initial "assay block model" of the Poza de Plata diatreme and
the Josefina mine target.
-- M3 Engineering and Technology, Tucson Arizona has been retained to
initiate metallurgical test work on Pozo de Plata and Cordero Porphyry
Zone mineralization. In addition, M3 will begin infrastructure studies
for potential mine planning.
Publication of phase three drill results is expected to begin
early in the New Year.
The Codero project is under the direct supervision of Vic
Chevillon, MA, CPG, 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.
The Company also wishes to announce that it has provided 30 days
notice to Renmark Financial Communications ("Renmark") to terminate
its investors relations activities on behalf of the Company. (Refer
to News Release dated April 15, 2010). The Company wishes to thank
Renmark for its contributions over the last eight months but now
believes it has sufficient in-house investor relations
resources.
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.
Geoff Chater, President
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
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