Valterra Begins Drill Program on the Star Project in Southeast BC
June 28, 2010
Valterra Resource Corporation (“Valterra”) announced today that the 2010 exploration program for the Au-Ag-Cu Star Project
in southeast British Columbia has commenced. Field crews have mobilized to the Salmo area, and the diamond drill program has begun.
The allocated budget for Phase I is approximately C$400,000 and the focal point involves drill testing numerous targets within a roughly 3.5 kilometre-long polymetallic mineral belt. Target prioritization has benefited recently from an external geological Consultant’s technical compilation report and an airborne geophysical survey. These studies have identified several highly prospective trends and assisted with defining the projects structural framework in a region dominated by overburden.
In May 2010, Aeroquest Ltd. surveyed a 30 square kilometre area covering the Star-Toughnut properties by utilizing an AeroTEM III MAG-EM heli-borne geophysical system (see NR-03-10). The preliminary airborne data has been received and work to date has identified several anomalies that warrant further exploration and potentially could be drill-targeted.
This region of the province has produced several million ounces of gold and precious metals from numerous past producers. The BC MINFILE records lists such operations as the Rossland Camp (past production estimate of 3.5M ounces of gold), and the Silver King mine - BC’s first lode mine ca. 1888 (reportedly produced 4.4M ounces of silver(1)). Valterra’s claims are centrally located on the Silver King Shear Zone, to the east is the Kena Gold project (1.0M ounce NI43-101 compliant gold resource(2) - Sultan Minerals Inc.), and to the northwest is the Kenville Mine (386,000 ounce NI43-101 compliant gold resource(3) - Anglo Swiss Resources Inc.).2010 Exploration Proposal for Valterra in Southeast BC
About Valterra Resource Corporation
- Drilling and surface exploration is expected to begin in accessible areas of the Star and Eureka zones. The Star drilling will test the up-dip continuance of an intercept from VST08-004 which returned 6.28 g/t Au, 7.20 g/t Ag and 0.44% Cu over 2.0m. The Eureka drill target is planned to be a 50-metre southern trend offset of historical drill hole 89-05 which returned 10.29 g/t Au, 1.10 g/t Ag and 0.35% Cu over 2.0m.
- Drilling of the Toughnut trend, where approximately 1,000 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. The highlight of the 2009 program at the centrally located Alma N zone included hole VST09-007 which graded 2.12 g/t Au and 1.63 g/t Ag over 44.50 metres, including 11.29 g/t Au and 5.60 g/t Ag over 2.0m. 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 belt targeting several other trends, which from west to east include: the 450, Gold Eagle, Cumberland, Anyea and Atlas, that are defined historically by a combination of previous wide-spaced drilling, geochemical and geophysical surveys.
Valterra is a Manex Resource Group Company
. The Group provides expertise in exploration, administration, and corporate development services for the Company’s mineral properties located in the Kootenay Region of BC.
Valterra is well funded having raised over C$550,000 of flow-through capital in Q4 2009. The Company has interests in approximately 11,100 hectares and has planned for an aggressive 2010 exploration campaign in southeast BC. The focus will include four primary projects: The Star
gold-silver-copper claims, located southwest of Nelson BC and the Toughnut
gold-silver-copper-lead-zinc claim block adjoins the Company’s Star claims (“Star Project”
). 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 this part of the belt with over 3,800 hectares under tenure. Furthermore, the Swift Katie
copper-gold porphyry/shear-hosted project located near Salmo BC is currently under option to Tosca Mining Corp. An allocated budget of approximately C$250,000 has been earmarked for drill testing of several newly identified targets outlined from processing airborne and ground-based geophysical data (see NR-04-10).
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 810 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 Liana Shahinian at 1.888.456.1112 or 604.641.2773 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) Historical production/inventory statistics for mines at Rossland and Silver King were obtained from public documents available from the BC Government Mineral Inventory File (MINFILE) database. The reporting standards used in this specific file were obtained prior to the establishment of NI43-101 regulations. Valterra Resource Corporation has not independently verified this historical data. Valterra Resource Corporation has no reason to believe that these results are not representative of mineralization associated with the mining activity.
(2) Resource information gathered from the Kena Property Technical Report dated June 3, 2004.
(3) Resource information gathered from the Kenville Gold Mine - 257 Level Technical Report dated July 22, 2009.
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.