VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 27, 2011) - Valterra Resource Corporation (TSX VENTURE:VQA)(FRANKFURT:3VA) ("Valterra") reported multiple near surface assay results from widely-spaced drilling, and continued expansion of the recently discovered Gold Eagle zone at the Au-Ag+/-Cu porphyry/shear-hosted "Star Project" (Star and Toughnut claims) located in southeast British Columbia. In 2011, a Phase I drilling program was completed consisting of five drill holes totalling 1,362 metres which targeted four priority targets; the Gold Eagle, the Alma N, the Eureka, and the Link. These polymetallic mineralized zones occur along a prospective 3.5 kilometre-long trend transecting the property claims and Valterra has valid permits enabling up to 10,500 metres of drilling.
Drill highlights include:
VTN11-010 (Gold Eagle): 1.22 g/t Au & 2.71 g/t Ag over 29.72 metres
Including 4.40 g/t Au & 6.10 g/t Ag over 2.0 metres
VST11-013 (Alma N): 1.28 g/t Au & 0.97 g/t Ag over 10.02 metres
Including 9.14 g/t Au & 1.20 g/t Ag over 1.05 metres
VST11-014 (Eureka): 0.36 g/t Au, 1.21 g/t Ag & 0.13% Cu over 64.0 metres
Including 1.23 g/t Au, 2.17 g/t Ag & 0.24% Cu over 15.52 metres
Drilling in 2011 expanded the Gold Eagle zone, first tested by Valterra in 2010, which is spatially associated with the historic Gold Eagle target. Gold-silver mineralization in drill holes VTN11-009 and -010 projects sub-vertically underneath an anomalous surface outcrop which yielded 4.73 g/t Au and 8.2 g/t Ag in a grab sample. The 2011 holes were drilled northeast from the same drill setup at collar dip angles of -50° and -70°, respectively. The deepest and highest grade intercept is approximately 40 metres below surface, and the mineralization remains open for expansion at depth and along strike. The mineralization is pyrite-enriched and hosted in a strongly bleached k-feldspar-sericite-silica altered andesite breccia of the Upper Elise Formation.
The encouraging results received to date warrant continued drilling and Valterra anticipates that the Gold Eagle and Alma N are advancing toward grid-patterned drilling designed to develop Au-Ag resources of potential economic significance. To date, Valterra has completed 25 NQ2/BTW-sized drill holes (5,785m) on the project and has returned several encouraging intercepts for Au-Ag +/- Cu from five known zones. Furthermore, advanced studies on the project database have identified 'embayments' in the magnetic geophysical signature coincident with prospective geological contacts and strong hydrothermal alteration. To date, the precious metal signature is often elevated when these features are core sampled, yet the structures are only nominally tested in the drill record.
Drilling to date by Valterra continues to advance a porphyry model for the property. Targets include broad bulk-tonnage styles of Au-Ag-Cu mineralization and structurally controlled higher grade zones. Targeting was aided by several technical programs implemented by Valterra that included a NI 43-101 Technical Report on the Star-Toughnut (available for viewing at www.sedar.com); a 30 square kilometre airborne EM-MAG survey was flown by Aeroquest Ltd. over the entire +1,900 hectare claim block; and the airborne data was subjected to detailed processing analyses by a geophysical consultant whose work refined numerous airborne anomalies warranting follow-up.
|Table 1: 2011 Phase I Drill Assay Composites for the Star Project *|
|Hole #||Zone||Collar Data||
|* Interval widths reported are drill intercept widths; true widths are currently undefined. The assays are uncut, width-weighted average values.|
2011 QA/QC Protocols
Core samples were analyzed at Acme Analytical Laboratories Ltd. located in Vancouver BC, for Au + 41 elements by Fire Assay (FA)/Inductively Coupled Plasma (ICP)/Emission Spectroscopy (ES) and Four-Acid Digestion/ Inductively Coupled Plasma (ICP)/Mass Spectroscopy (MS) 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 throughout the core sampling process comprising "blind" insertions of a variety of standard pulps, blanks, and field duplicates. Certified analytical standards were utilized from suppliers CDN Resource Laboratories Ltd. and WCM Minerals Limited and overall approximately 10% of the total assays were QA/QC-related; the results of which were carefully monitored in order to verify the assaying quality.
About Valterra Resource Corporation
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.
The Company has interests in over 120 square kilometres in southeast BC that currently focus on four primary properties: the Star gold-silver-copper claims located southwest of Nelson BC, the Toughnut gold-silver-copper-lead-zinc claim block which adjoins the Star claims, the Rozan gold-silver-lead-zinc property situated just south of the Toughnut claims, and the advanced Swift Katie copper-gold porphyry/shear-hosted project located near Salmo BC.
Since 2007, Valterra has aggressively explored and expanded its claim blocks within the gold-enriched "Rossland Volcanic Belt" by completing over 10,600 metres of diamond drilling, conducting 810 line-kilometres of heli-borne geophysics, undertaking mapping-sampling and staking programs, and acquiring/joint venturing properties.
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., President and Director, Valterra Resource Corporation
For further information, please visit Valterra's website at valterraresource.com.
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.
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