Valley High Ventures Ltd.

Valley High Ventures Ltd.

September 30, 2010 09:19 ET

$14 Million Phase Three Drill Program Commences At Valley High's Cordero Silver-Gold Project In Mexico

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 30, 2010) - 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.


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.

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