West High Yield Announces Completion of Testing on 2010 Gold Drilling Program and Additional Drilling Results
September 29 2010 - 1:43PM
Marketwired Canada
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 the drilling and testing of 15
drill holes totaling 1,698 metres (5,570 feet) in its 2010 gold drilling program
on the Company's Midnight Crown granted claim in the western outskirts of
Rossland, British Columbia. To the present, the Company has received the
analysis for 13 of the 15 holes drilled in the 2010 program. The analysis of the
remaining two holes will be received in the next few weeks. The Company
previously reported the assay results for 6 holes (MN10-1 through MN10-6) and
now reports the results of an additional 7 holes (MN10-7 through MN10-13), which
are summarized in the table below.
In the table below, it is noted that two holes (MN10-9 and MN10-13) show no
significant gold intersections and in the opinion of management outlines the
western margin of the Midnight gold resource play. Hole MN10-10 failed to reach
the desired drill depth due to encountering an old tunnel. As demonstrated in
the table below, the other four holes demonstrated multiple zones of gold
intersections with significant gold values, with hole MN10-11 returning 73.23
g/tonne Au for a true width of 2 metres. Also hole MN10-12 returned three (3)
gold intersections including one with 2.4 metres true width and values of 3.11
g/tonne Au. The southern margin of the Midnight gold resource play remains to be
further tested. The Company plans to retain SRK Consulting Engineers and
Scientists ("SRK") of Denver, Colorado, an independent engineering firm, to
undertake an independent NI 43-101 measured mineral resource estimation of the
Company's Midnight property. For the readers' reference, this press release is
accompanied by a map of the Company's 2010 Diamond Drilling Plan on the Midnight
property.
2010 Drill Gold Intersection Summary -Midnight Crown Granted Claim
----------------------------------------------------------------------------
True Gold Silver
Hole # (All vertical) Interval (m)Length (m) width (m) g/tonne g/tonne
-------------
From To
----------------------------------------------------------------------------
MN10-7 85.0 89.0 4.0 3.5 2.20 0.9
-----------------------------------------------------
95.0 96.6 1.5 1.3 2.94 3.8
----------------------------------------------------------------------------
MN10-8 48.1 49.6 1.5 1.3 1.08 0.7
-----------------------------------------------------
57.1 58.6 1.5 1.3 1.98 1.2
-----------------------------------------------------
64.6 70.4 5.8 5.0 1.06 1.0
----------------------------------------------------------------------------
MN10-9 No significant gold intersection
----------------------------------------------------------------------------
MN10-10 Unsuccessful drilling due to encountering old mine
tunnel
----------------------------------------------------------------------------
MN10-11 27.3 29.3 2.0 2.0 2.83 1.0
-----------------------------------------------------
91.0 93.0 2.0 2.0 73.2 9.7
----------------------------------------------------------------------------
MN10-12 35.7 39.1 2.4 2.4 3.11 5.1
-----------------------------------------------------
99.0 100.5 1.5 1.5 3.12 2.1
-----------------------------------------------------
110.5 114.1 3.6 3.6 1.06 0.6
----------------------------------------------------------------------------
MN10-13 No significant gold intersection
----------------------------------------------------------------------------
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 being conducted on the
Rossland Gold Camp property which is situated approximately 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 and nickel on its primary properties which are the Midnight, OK and IXL
crown grants and for nickel and magnesium on the Company's Hidden Valley and
Record Ridge properties.
The Company's field activities are supervised and the technical data for this
report was prepared by H. Kim, P.Geo/P.Eng (Practicing - License #21179)) and
assisted by Cory Peck, B.Sc, Geol.I.T. H. Kim is a qualified person as defined
by National Instrument 43-101 ("NI 43-101").
The Company also advises that the Company's Board of Directors approved the
granting of 1,925,000 stock options to officers, directors, employees and
consultants of the Company, subject to regulatory and TSX Venture Exchange
approval. The options were issued with an exercise price of $0.40 per share and
have a five year term.
READER ADVISORY
This news release may contain certain forward-looking statements, including
management's assessment of future plans and operations, and capital expenditures
and the timing thereof, that involve substantial known and unknown risks and
uncertainties, certain of which are beyond the Company's control. Such risks and
uncertainties include, without limitation, risks associated with mining
exploration, development, exploitation, production, marketing and
transportation, loss of markets, volatility of commodity prices, currency
fluctuations, imprecision of reserve estimates, environmental risks, competition
from other explorers and producers, inability to retain drilling rigs and other
services, delays resulting from or inability to obtain required regulatory
approvals and ability to access sufficient capital from internal and external
sources, the impact of general economic conditions in Canada, the United States
and overseas, industry conditions, changes in laws and regulations (including
the adoption of new environmental laws and regulations) and changes in how they
are interpreted and enforced, increased competition, the lack of availability of
qualified personnel or management, fluctuations in foreign exchange or interest
rates, stock market volatility and market valuations of companies with respect
to announced transactions and the final valuations thereof, and obtaining
required approvals of regulatory authorities. The Company's actual results,
performance or achievements could differ materially from those expressed in, or
implied by, these forward-looking statements and, accordingly, no assurances can
be given that any of the events anticipated by the forward-looking statements
will transpire or occur, or if any of them do so, what benefits, including the
amount of proceeds, that the Company will derive therefrom. Readers are
cautioned that the foregoing list of factors is not exhaustive. All subsequent
forward-looking statements, whether written or oral, attributable to the Company
or persons acting on its behalf are expressly qualified in their entirety by
these cautionary statements. Furthermore, the forward-looking statements
contained in this news release are made as at the date of this news release and
the Company does not undertake any obligation to update publicly or to revise
any of the included forward-looking statements, whether as a result of new
information, future events or otherwise, except as may be required by applicable
securities laws.
42,820,394 Common Shares Issued
To view map of 2010 Diamond Drilling Plan, see link below:
http://cnrp.marketwire.com/cnrp_files/20100929-why_MAP.pdf
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