Valterra Updates 2009 Analytical Data at the Star Project and Announces 2010 Exploration Plans
February 17, 2010
Valterra Resource Corporation (“Valterra”) reports that assay certificates issued to the company relative to certified metallic fire assays from the 2009 Alma N zone drill program, reported on September 10, 2009 in NR-13-09, are inconsistent due to an error by Inspectorate IPL, an independent laboratory. These errors were discovered through internal due diligence by Valterra and advice from an external Consultant.
The company reported that its QA/QC protocols identified two problematic certificates of metallic gold by fire assays on drill core issued as part of the 2009 exploration program on the Star Project, located in southeast British Columbia. The analytical differences were identified in only those samples for which the metallic check analyses were issued, those being 60 samples of a total of 276 core and QA/QC check samples collected. It is in the company’s opinion that the metallic check assays should not be relied upon in preference to the original fire assay certificates.
The Company now restates the drill assay composites for the affected three holes as follows:
Table 1: 2009 Restated Drill Assay Composites for the Star Project (Fire Assay) – Alma N Zone** Fire assay gold analysis composites. The estimated true thickness of the mineralization in the Alma N zone area is currently approximated at 85-90% of the drill intercept. Estimates are based on prior drilling, mapping and computer modelling that generated an average strike and dip of 170o / 70o. Information pertinent to the 2009 Alma N zone in any way inconsistent with the restated exploration results should not be relied upon.
Chronology of Analyses
The metallic screen analyses were ordered as a check on the original fire assay gold results, stated in the table above, after visible gold was detected in drill core during a field review on August 8th 2009. Recognizing the potential for a significant ‘gold nugget effect’, Valterra retained consulting geochemist Dr. Barry Smee, Ph.D., P.Geo., to conduct an independent technical review of the analytical data, and potentially advise the Company on future exploration protocols and the implementation of additional quality control procedures. Dr. Smee’s review of the metallic-screen data identified inconsistencies requiring further investigation. The reporting laboratory was requested to explain the apparent differences between the fire assay certificates and the metallic fire assay certificates. Valterra also utilized the services of a second independent laboratory to conduct a further due-diligence by re-analyzing the entire set of metallic-related samples for comparative purposes. The result of this second independent check analysis of the samples confirmed the validity of the initial fire assay data.
Due diligence by the initial reporting laboratory concluded: “…the most likely cause of the discrepancy was incomplete parting of the silver from the gold bead prior to gravimetric finish.”
Also, the lab was required to undergo a Corrective Action Procedure (CAR) pursuant to the ISO9001:2008 Management System. The labs conclusion contained in this brief final report received February 10, 2009 was two-fold: 1) possible causes of high discrepancy for the +150 mesh screen is nugget effect of free gold in some samples; and 2) silver was not removed completely during the parting process. Small amount of residue added to the final weight for gravimetric determination will mean a big calculation error because of the unusually small sample weight for the plus portion.2009 QA/QC Protocols
Samples from the Alma N zone were initially analyzed at Inspectorate IPL, an ISO 9001:2000 certified company located in Richmond BC, for Au + 30 elements by Fire Assay (FA)/Atomic Absorption Spectroscopy (AAS) and Inductively Coupled Plasma (ICP)/Atomic Emission Spectroscopy (AES)/Aqua-Regia Acid Digestion (AqR) using appropriate calibration standards. Additionally, any samples assaying >10.0 g/t Au are re-analyzed using a Gravimetric finish.
Valterra implemented established QA/QC quality protocols that are followed throughout the core sampling process. A variety of certified analytical standards were utilized from suppliers CDN Resource Laboratories Ltd. and WCM Minerals Limited. For every batch of 22 core samples collected, two random and “blind” QA/QC samples were included. Protocol required that a single standard pulp be inserted, and either a blank or duplicated core sample be added within the sample stream. Overall, approximately 9% of the total assays were QA/QC-related; the results of which were carefully monitored in order to verify the assaying quality.
Assays from the metallic fire assays certificates resulted in an approximate doubling of composited results of the original fire assay certificates. The company believes that results disclosed by fire assays of sections of the core from the three drill holes are encouraging and necessitate further exploration which will be undertaken in the second quarter of 2010 as detailed below. The company is well funded to undertake this phase of the program.2010 Exploration Proposal for Valterra in Southeast BC
About Valterra Resource Corporation
- Drilling of the main Toughnut occurrence, where approximately 1,000 to 1,500 metres of diamond drilling is proposed. Historical drill results yielded values of 1.57 g/t Au and 1.26 g/t Ag over 24.66 metres in drill hole GWS-90-18.
- Expansion of the Alma N zone and further delineation of near surface gold-silver +/- copper mineralization drill-intersected during the 2009 and 2008 exploration programs. Fire assay highlights from the 2009 program at the centrally located Alma N zone included 2.12 g/t Au & 1.63 g/t Ag over 44.50 metres in drill hole VST09-007. Valterra has currently outlined approximately 250 metres of mineralized strike length to the zone which remains under-explored and open for further expansion, and
- Further drilling and/or surface exploration is also anticipated within the 3.5 kilometre-long mineral belt targeting the Eureka, Star, Gold Eagle and Rozan zones that are defined historically by a combination of previous wide-spaced drilling, geochemical and geophysical surveys.
Valterra is a Manex Resource Group Compan
y focused on exploration of mineral properties in the Kootenay Region of BC where it controls a total of approximately 11,100 hectares. The Star
gold-silver-copper claims, located southwest of Nelson BC and the recently acquired Toughnut gold-silver-copper-lead-zinc claim block adjoins the company’s Star claims (“Star Project”)
. Also in January 2010, Valterra acquired the Rozan
gold-silver-lead-zinc property situated just south of the Toughnut. Collectively, the company has a strong foothold in the region with over 3,800 hectares under tenure containing several structurally aligned gold zones within the regionally prominent and historically prolific Silver King Shear Zone.
One of the Star Property mines - the Eureka (ca. 1897) - reportedly produced minor amounts of ore averaging 2.13 g/t Au, 125.0 g/t Ag and 1.77% Cu(1). This mineralized belt currently measures approximately 3.5 kilometres in length, and trends largely in an en echelon fashion with respect to the former mines at Kenville and Silver King, and the advanced stage gold prospect at Kena.
Valterra also has an interest in the Swift Katie
copper-gold porphyry/shear-hosted project near Salmo BC. In August 2009, the 7,064 ha property was the subject of a Mineral Property Working Option Agreement with Tosca Mining Corp. (formerly JRTL Capital Corp.). Valterra granted Tosca a five-year option to acquire a 60% interest (subject to a 3% net smelter return royalty over the Property in favour of the original property vendors). Tosca is required to make staged cash payments to Valterra in the amount C$155,000, issue a total of 500,000 shares, and incur exploration expenditures on the property aggregating C$3.0 million (see NR-12-09).
Since 2007, Valterra has aggressively explored and expanded its claim blocks within the gold-enriched “Rossland Volcanic Belt” by completing over 6,225 metres of diamond drilling, conducting 505 line-kilometres of heli-borne geophysics, undertaking a variety of mapping-prospecting-sampling programs, staking mineral claims, as well as acquiring new properties and joint venturing.
Brian McGrath, P.Geo., is the Qualified Person responsible for reviewing the technical results reported in this release.
On behalf of the Board of Directors,
“Lawrence Page, Q.C.”
Lawrence Page, Q.C., President, Director, Valterra Resource Corporation
For further information, please visit the Company’s website at valterraresource.com or contact Jeff Stuart at either 1.888.456.1112 or 604.641.2771 or by email at firstname.lastname@example.org.This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Valterra Resource Corporation relies upon litigation protection for forward looking statements.(1) Results from the historical drilling were obtained from public documents available from the BC Government Mineral Property Assessment Files (ARIS). Drill testing and assays were obtained prior to the establishment of NI43-101 regulations. Valterra Resource Corporation has not independently verified this data or checked the QA/QC standards used at that time. Valterra Resource Corporation has no reason to believe that these results are not representative of mineralization intersected in these drill holes.The Canadian National Stock Exchange (CNSX) has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Valterra Resource Corporation relies upon litigation protection for forward looking statements.