Valterra Receives Drill Exploration Permit for the Los Reyes Cu-Au Project, Chihuahua, Mexico
February 20, 2019
Valterra Resource Corporation (“Valterra”) reports that in addition to previous permit approvals for the Weepah, Nevada and Swift Katie, British Columbia projects, the Company has now received an exploration permit approval for its Los Reyes Cu-Au Property in Chihuahua, Mexico.
The Los Reyes Property is well located only 12 kilometres south of the city of Jimenez and adjacent to highway, power and rail. It is strategically located along a northwest-trending structure formed along the western margin of the Sierra Madre Oriental that hosts numerous high-grade current and past operating mines including Naica (26 million tonnes @ 213 g/t Ag, 5.9% Pb, 5.6% Zn and 0.4% Cu) and the Velardena district (+15Mt @ 175g/t Ag, 0.5g/t Au, 4.0% Pb, 5.0% Zn, and 2.5% Cu).
The proposed 2019 exploration on the property includes:
- A phase I, surface mapping and sampling program, to be followed by a short 8 to 10 line-kilometre IP geophysical program over the target area; and
- A phase II initial six to eight core hole drill program totaling 2,500m which will test a 600 metre strike length of the target Cu-Au skarn.
Exploration will target the +800 metre long Cu-Au-rich skarn zone located at the eastern contact between a Tertiary-age granodiorite intrusive and Cretaceous-age limestones and shales. The exploration target is locally over 100 meters wide and contains multiple zones of strongly copper-enriched mineralization. Near surface mineralization exposed in shallow artisanal workings and adjacent dump material is strongly oxidized.
Records of historical data on the property are limited but indicate: surface high-grade copper values up to 8.0% Cu; a strong IP chargeability anomaly which correlates to the target skarn zone, only 100m to 200m depth below surface; and indications of strong gold enrichment in the copper zones from limited historical drilling on the property. Note that this data is historical in nature and has not been independently verified by Valterra and should not be relied on as such.
The company is initially targeting a five to ten million tonne, shallow high grade Cu-Au resource localized along the strike length of the exposed skarn zone. Further work will examine the deeper potential of the mineralizing system including a potential Porphyry Cu-Au source for the shallow high-grade mineralization.
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 British Columbia, Nevada and Mexico. Valterra is focused on early stage properties with the potential to host large deposits in regions with excellent infrastructure. Valterra owns a 100% interest in the Swift-Katie copper gold porphyry property in British Columbia, Canada which is permitted for a drill exploration program to take place in Q3, 2019. It is earning a 100% interest in the Weepah property in Nevada, USA, with past production totaling approximately 117,000ozs gold and significant exploration potential for a high-grade bulk-mineable gold discovery which is fully permitted and bonded for a 16 hole drill program scheduled for Q2, 2019 and a 100% interest in the Los Reyes copper- gold property in Chihuahua, Mexico.
On behalf of the Board of Directors,
Lawrence Page, Q.C., President, Valterra Resource Corporation
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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.
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.