Valley High Ventures Ltd.

Valley High Ventures Ltd.

November 03, 2009 09:00 ET

Valley High Ventures Ltd.: Initial Drilling at Cordero Project, Mexico Returns 152 Metres Grading 80.6 g/t Silver, 0.61 g/t Gold, 1.41% Zinc and 1.22% Lead

VANCOUVER, BRITISH COLUMBIA--(Marketwire, Nov. 3, 2009) - Valley High Ventures Ltd. ("Valley High") (TSX VENTURE:VHV) is pleased to report initial drilling results from the recently completed diamond drill program at the Cordero silver, gold, zinc, lead, porphyry district located 35 kilometres northeast of Hidalgo Del Parral, Chihuahua, Mexico. This first phase program included the drilling of 8 holes, totaling 2,840 metres of HQ core, and was designed to test five targets within three of the four mineralized intrusive centers that comprise the Cordero Porphyry Belt. The exploration target is a bulk-mineable deposit similar to the Penasquito deposit currently being developed by Goldcorp Inc. Drill collar information is presented in figure 1 and table 2 below.

The results received to date include compete assays for holes C09-1, 2, 4 and 5 and the top of hole C09-3. Final results for the remainder of hole C09-3 and holes C09-6, 7 and 8 will be released as soon as they are received. Significant results were obtained in two separate zones tested, Pozo De Plata, a diatreme-dyke complex and Cordero Dome, a volcanic dome complex and results are still pending from the La Ceniza zone. Summary results are presented below in table 1. Sample lengths reported are core intervals and true widths are not known.

Table 1: Summary Drill Results

 Hole ZoneFrom (m)To (m)Length (m)Ag (g/T)Au (g/T)Zn (%)Pb (%)
 C09-1 Pozo de Plata0 70 70 29.14 0.08 0.25 0.15
 C09-2 Pozo de Plata6 88 82 31.74 0.27 0.15 0.23
 C09-3 Cordero Dome72 92 20 88.34 0.14 1.90 1.69
 C09-3 Cordero Dome184 192 8 25.38 0.56 1.45 0.31
 C09-4 Pozo de Plata122 130 8 32.50 0.21 0.62 0.34
 C09-5 Pozo de Plata92 244 152 80.64 0.61 1.41 1.22
 C09-5(incl.) Pozo de Plata130 202 72 150.16 1.06 2.48 2.27

The Pozo de Plata target is the southwesterly of four intrusive centred zones defined on the property. It is in large part covered by alluvium and there is little evidence of historical exploration work. Work competed this year has partially outlined a circular target 1,500 metres in diameter defined by soil geochemistry, chargeability and sporadic outcrops of diatreme breccia and rhyolite and dacite dykes. Three trenches reported on earlier exposed long intervals of anomalous silver, zinc and lead with local elevated gold numbers. Holes C09-1 and C09-2 were drilled near the "Silver Well" showing and the discovery trench respectively and returned elevated values over significant widths. Holes C09-4 and C09-5 were drilled beneath trench. Hole C09-5 cored a long well-mineralized interval that returned 152 metres grading 80.64 g/T Ag, 0.61 g/T Au, 1.41% Zinc and 1.22% lead.

Hole C09-5 mineralization comprises medium to coarse grained sphalerite often intergrown with galena, pyrite and very fine grained tetrahedrite in the breccia matrix and as clasts within the diatreme breccia and as finely disseminated grains and sparse, stockwork veins within and near breccia dikes. The diatreme breccia is a poorly sorted, matrix supported rock, containing clasts of intrusive, volcanic and sedimentary rocks, set in a rock flour matrix. The diatreme breccia is entirely gradational with breccia dykes. The hole ended in non-brecciated limestone country rocks.

Hole C09-3 tested the northeast margin of the main Cordero Dome target, 1,270 metres northeast of hole C09-5, in the vicinity of several artisanal mine workings. The hole encountered two high grade intervals that correlate with vein swarms cutting dacite porphyry of the dome complex. The uppermost vein zone was previously unknown. The lower portion of C09-3 (assays pending) cut limestone country rocks.

Table 2: Phase I drill hole locations (coordinates in CONUS Nad 27, UTM Zone 13)

Hole ID Easting (m) Northing (m) Elevation (m) Length (m) Hole Type Azimuth Dip
C09-1 442301 3013697 1575 166.90 HQ Core 0 -60
C09-2 442335 3013749 1566 300.20 HQ Core 10 -60
C09-3 443200 3015180 1591 500.50 HQ Core 200 -60
C09-4 442800 3013969 1596 490.05 HQ Core 317 -60
C09-5 442650 3014083 1570 367.00 HQ Core 0 -60
C09-6 444372 3015082 1580 241.50 HQ Core 315 -50
C09-7 444738 3015641 1567 319.55 HQ Core 310 -50
C09-8 443804 3014530 1585 453.75 HQ Core 201.6 -55.7
TOTAL - Phase 1 Drilling      2839.45HQ Core   

Results to date from the phase one drilling have returned encouraging values from widely spaced drilling in two separate geological zones. The Company is currently planning an expanded phase two drill program designed to complete grid drilling in the vicinity of the results received to date as well as continued first pass drill testing of geophysical, geochemical and surface targets as outlined by the 2009 work program.

Core samples were collected in continuous two metre lengths, primarily by sawing of the key mineralized intervals and by splitting all other intervals. All of the samples mentioned in this release were prepared and analyzed by ALS Chemex at its labs in Chihuahua, Mexico and Vancouver, Canada. Gold analyses were performed by 30-gram fire assay with an atomic absorption ("AA") 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 re-analyzed with assay procedures utilizing ICP-AES.

The project is under the direct supervision of Mr. Francisco Armenta Eng., Valley High's General Manager, Mexico and Mr. Vic Chevillon, M.A., C.P.G., Levon Resources Ltd's ("Levon") Vice President of Exploration. The company employs a rigorous quality assurance and quality control ("QAQC") program comprised of control samples that include standardized material, blanks and duplicates. AMEC Americas Ltd. "AMEC" has designed the QAQC protocol from a study and review of information provided by the Company to AMEC.

The Cordero property is centred on a mineralized belt of four porphyries that has been defined through a strike length of 6 km and a width of about 3 km. The district is covered by wholly owned claims and consolidated land agreements that total about 10,000 hectares wherein Levon may earn a 51% interest by spending Cdn $1,250,000 plus their proportion of the underlying option and maintenance property costs. 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.

In other matters, the Company wishes to announce that Jim Mustard, an independent director, is resigning effective November 3, 2009 due to his recent appointment as Vice President, Investment Banking, Mining at PI Financial Corp., a Vancouver based full service brokerage firm. The Company thanks him for his guidance over the past 2 years and wishes him well. "I believe that Valley High is a junior exploration company that is in under excellent stewardship and am leaving only because of a requirement to do so," stated Jim Mustard. The Company has commenced searching for a replacement.


Robert Cameron President and CEO

About Valley High Ventures Ltd.:

Valley High Ventures Ltd. is a Canadian based precious and base metal exploration company with several properties, totaling approximately 10,000 hectares, located in south-central British Columbia, and in close proximity to Imperial Metals' Mt. Polley copper-gold mine. Valley High has recently optioned its interest in the 37 hectare Boundary Zone to Imperial Metals in return for a production royalty. In addition Valley High has an option to acquire the Cordero silver, gold, zinc, lead property in central Mexico. Cordero encompasses a number of small historic high grade silver mines and is currently being evaluated by the Company for larger bulk mineable silver, gold, zinc and lead potential. Levon Resources Ltd. is earning a 51% interest in the project by funding exploration work totaling $1,250,000. Valley High has recently optioned the large Flume gold property in the Yukon from Phelps Dodge Corporation of Canada, Ltd. The Flume property is located in the newly recognized White Gold District some 30 kilometres from the new Golden Saddle discovery of Underworld Resources Inc.

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.

To view Figure 1, please click on the following link:

"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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