West High Yield (W.H.Y.) Resources Ltd.
TSX VENTURE : WHY

West High Yield (W.H.Y.) Resources Ltd.

October 27, 2011 09:30 ET

West High Yield Announces Latest 2011 Drill Results

CALGARY, ALBERTA--(Marketwire - Oct. 27, 2011) - Not for dissemination in the United States or to US persons.

West High Yield (W.H.Y.) Resources Ltd. ("West High Yield" or the "Company") (TSX VENTURE:WHY) announces that it has completed its 2011 resource definition drill program on its Record Ridge magnesium property, located near Rossland, British Columbia. In the 2011 program, the Company drilled and completed 26 NQ diamond drill holes totalling 4,000 metres. The Company previously reported the results of 10 holes (RRS 11-1 through 10) and the Company has now received the assay results for 7 additional drill holes. All drill holes intersected broad zones of magnesium bearing ultramafic rock (serpentinized dunite, wehrlite and lehzolite-simply named serpentinite). RRS 11-11 mainly intersected monzosyenite and RRS 11-13 intersected several zones of magnesium bearing ultramafic rocks mixed with intervened sub-volcanic and intrusive dykes. The other five (5) holes all intersected broad zones of rich magnesium bearing ultramafic rock (serpentinite). Of noteworthy interest is hole RRS 11-16 which yielded 150.3 metres of 24.7 % magnesium. The remaining assay results will be available by the end of November. The chart below summarizes the results for the recent 7 holes and the map attached as a schedule to this news release identifies the location of the drill holes from the programs from 2007, 2008 and the current 2011 program.

Depth (Metres) Length (Metres) Magnesium
DDH # From To (True Width) % Rock Type
4.0 10.3 6.3 2.41 Monzosyenite
10.3 13.6 3.3 20.7 Serpentinite
RRS 11-11 13.6 38.5 24.9 3.38 Monzosyenite
38.5 43.2 4.7 20.1 Serpentinite
43.2 87.5 44.3 N/A Monzosyenite- not sampled
0 38.1 38.1 21.3 Serpentinite
38.1 46.9 8.8 3.4 Monzosyenite
RRS 11-12 46.9 128.4 81.5 21.2 Serpentinite including two dykes (1 m and 1.7m)
128.4 138.7 10.3 N/A Monzosyenite –not sampled
2.4 31.9 29.5 23.6 Serpentinite
31.9 44.3 12.4 2.4 Monzosyenite
44.3 80.9 36.6 20.9 Serpentinite
80.9 104.5 23.6 2.0 Monzosyenite
RRS 11-13 104.5 115.1 10.6 23.2 Serpentinite
115.1 124.3 9.2 3.0 Diagabbro
124.3 131.0 6.7 22.8 Serpentinite
131.0 141.3 10.3 2.0 Monzosyenite
141.3 151.8 10.5 24.4 Serpentinite
RRS 11-14 2.4 152.4 150.0 23.7 Serpentinite
1.5 47.6 46.1 23.1 Serpentinite
RRS 11-15 47.6 56.0 8.4 7.6 Monzosyenite
56.0 152.4 96.4 24.0 Serpentinite
RRS 11-16 2.1 152.4 150.3 24.7 Serpentinite including one dyke (2.8 m)
2.4 55.2 52.8 23.4 Serpentinite
RRS 11-17 55.2 67.0 11.8 2.8 Monzosyenite and Diagabbro
67.0 152.4 85.4 25.5 Serpentinite

The Company also advises that it previously reported that it is proceeding with an NI 43-101 Preliminary Economic Assessment (PEA) Report in respect of the Company's Record Ridge magnesium project. The 2011 drill program will provide additional geotechnical data for the PEA and has expanded the grid over the Company's magnesium discovery. The PEA is being prepared by SRK Consulting Engineers of Denver, Colorado and after additional metallurgical studies the Company anticipates that the PEA will be completed in the first quarter of 2012. The Company also plans to proceed with Pre-feasibility and Feasibility studies on its Record Ridge magnesium project. It should be noted that the applications and uses of magnesium have increased in the past few years particularly in battery technology, automobiles, aircraft and other technology applications. The current price for magnesium in North America is $5,200 per tonne.

About the Company

West High Yield is a publicly traded junior mining exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold, nickel and magnesium properties. The Company's operations are currently being conducted on its Rossland Gold Camp property located 2.5 kilometers west of the town of Rossland, B.C. The Company controls approximately 6,223 contiguous hectares of mineral and crown granted claims and is exploring for gold on its primary properties which are the Midnight, OK and IXL crown grants and for magnesium on the Company's Ivanhoe Ridge, Hidden Valley and Record Ridge properties.

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http://media3.marketwire.com/docs/WHYFigure1.jpg

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Contact Information

  • West High Yield (W.H.Y.) Resources Ltd.
    Frank Marasco
    President and Chief Executive Officer
    (403) 660-3488
    (403) 206-7159 (FAX)
    frank@whyresources.com

    West High Yield (W.H.Y.) Resources Ltd.
    Dwayne Vinck
    Chief Financial Officer
    (403) 257-2637
    (403) 206-7159 (FAX)
    vinck@shaw.ca