Valterra Lists on the TSX Venture Exchange
June 28, 2011
Valterra Resource Corporation (“Valterra”) is pleased to announce that effective at the opening of market on June 28, 2011, Valterra’s common shares were listed and commenced trading on the TSX Venture Exchange under the symbol “VQA”. A listing application dated June 22, 2011 was prepared in accordance with the policies of the TSX Venture Exchange and is available under Valterra’s profile on SEDAR at www.sedar.com. Effective at the close of trading on July 4, 2011, Valterra’s common shares will be delisted from the Canadian National Stock Exchange.
Mineral Property Summaries
Valterra has been aggressively exploring south-eastern British Columbia since 2007, building key assets including the Au-Ag+/-Cu porphyry/shear-hosted “Star Project” (Star, Toughnut, and Rozan claims), and the Cu-Au porphyry/shear-hosted Swift Katie Project, all located near Salmo BC.
Valterra has conducted over 810 line-kilometres of airborne geophysical surveys and completed several mapping/diamond drilling programs totalling more than 9,250 metres. Numerous drill intercepts for Au, Ag, and Cu have been returned, and the prospective claim group controlled by Valterra has doubled to over 120 square kilometres.
The Star project, which includes the Star, Toughnut, and Rozan group of claims is Valterra’s flagship holding comprising almost 40 square kilometres centralized in the prolific Silver King Shear Zone. Valterra has completed 20 NQ2/BTW-sized drill holes (4,423m) and returned several encouraging intercepts for Au-Ag +/- Cu from five known zones aligned over a 3.5 kilometre strike length.
Select Valterra drill intercept highlights include:
The signature of the rocks intercepted in the past drilling are generally consistent with a zoned porphyry model subjected to shortening and intense shear-fault/hydrothermal activity that generated focused zones of higher-grade mineralization. Targeting has been aided by several technical programs implemented by Valterra that included a technical report titled NI 43-101 Technical Report, Compilation Report on the Star-Toughnut Property, Nelson Mining Division, British Columbia, Canada, March 10, 2011. The report supported Valterra’s listing application and is filed on SEDAR.
Additionally, a 30 square kilometre airborne EM-MAG survey was completed in 2010. The resultant data, together with historical ground geophysical surveys were subjected to detailed processing analyses by consultants whose work refined and sharpened numerous anomalies warranting follow-up.
Swift Katie Project
The Swift Katie group of claims comprises more than 80 square kilometres located near Salmo BC and centralized in an infrastructure-rich region of the province. Valterra has completed 15 drill holes (4,866m) and returned several encouraging intercepts for bulk-tonnage Cu-Au from the Main Katie zone; being underlain by prospective volcano-sedimentary rocks assigned to the Rossland Group which hosts numerous precious-metal and polymetallic past-producers in this prolific belt.
Select Valterra drill intercepts from the 2007-08 Katie zone include:
* Gold equivalencies (g/t) are calculated using US$950/oz gold, US$2.50/lb copper and the formula: (%Cu x 22 x Price Cu/lb) + (g/t Au x 0.029 x Price Au/oz) / (Price Au/oz x 0.029).
Initially, the Swift Katie was Valterra’s qualifying property, and a NI 43-101 report dated July 2007 was authored by Price and Makepeace (available for viewing at www.sedar.com). Valterra owns a 60% interest in the Swift Katie and expects to increase such interest in 2011 to 100% by issuance of 225,000 shares and payment of C$60,000 as the residual consideration to fully exercise the option.
2011 Exploration Proposal for Valterra in Southeast BC
- STAR - Phase I drilling and surface exploration is expected to begin immediately at the Star Project. Valterra has budgeted C$300,000 toward testing four high priority zones; the Eureka, the Alma-Star Link, the Alma N, and the Gold Eagle. Up to 1,300 metres of diamond drilling is anticipated within the 3.5 kilometres of strike length currently defined by a combination of previous wide-spaced drilling, geochemical, and geophysical surveys. Furthermore, advanced studies on the vast project database have identified ‘embayments’ in the geophysics coincident with geological contact zones and strong hydrothermally altered units. To date, the Au-Ag signature is often elevated when these features are core sampled, yet the structures are only nominally tested in the drill record. In 2011, two large embayment features are earmarked for drill testing.
- SWIFT KATIE - Valterra has retained Micon International Limited of Vancouver to conduct a Phase I, in-house review of the current database for the Katie deposit which comprises over 45 drill holes, completed between 1987 and 2008. The drilling outlines a Cu-Au inventory measuring approximately 600 metres of strike length by 400 metres width, and up to 300 metres depth; being open in several directions. The Phase I work will include surveying of historic drill collars, an assessment of the historic QA/QC protocols, and drill spacing. Contingent on the Phase I results, the Phase II proposal includes provisions for developing a NI 43-101 compliant bulk-tonnage Cu-Au resource.
About Valterra Resource Corporation
Valterra is a Manex Resource Group Company. The Group provides expertise in exploration, administration, and corporate development services for Valterra’s mineral properties located in the Kootenay Region of BC.
Valterra’s projects benefit from an excellent infrastructure network (roads, rail, power, and proximity to the Trail smelter), is in a favourable ‘brown-fields’ region of the province, and has a strong community of knowledgeable and experienced people from which to draw (regional population >25,000).
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.).
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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 and Director, Valterra Resource Corporation
For further information, please visit Valterra’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.
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.
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. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for Valterra Resource Corporation’s projects, and the availability of financing for Valterra Resource Corporation’s development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Valterra Resource Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
(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 was gathered from the Kena Property Technical Report dated June 3, 2004, and there is no certainty that similar mineralization will be discovered on Valterra Resource Corporation’s adjacent property holdings.
(3) Resource information gathered from the Kenville Gold Mine - 257 Level Technical Report dated July 22, 2009.
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.