CALGARY, ALBERTA, – September 21, 2007. West High Yield (W.H.Y.) Resources Ltd. (the “Company”) advises that it is re-releasing its news release which was issued yesterday as a result of a technical error which occurred in the reported version of a table (Summary of Serpentinite Intersections in Ivanhoe Ridge Drilling) on page two of the news release. The following news release is identical to the previous news release issued yesterday with the exception of this paragraph and the table on page two.
The Company is pleased to provide a progress report on its mining operations in Rossland, British Columbia. Since its last report which was issued on May 7, 2007, the Company has undertaken the following activities:
- Commencement of 2007 Diamond Drill Program. The Company began its 2007 drilling program in May and has now completed 14 NQ diamond drill holes (3,525 meters) testing the northeastern portion of the Ivanhoe Ridge ultramafic. The holes, at approximately 100 meter spacing, were drilled south to north on a surveyed line. The first four holes (DDHIV07 – 1 to 4) gave positive nickel values averaging 0.21% over widths, from surface, ranging from 80 to 184 meters and averaging just over 140 meters. The results indicate, as expected, a decrease in contained nickel values in the serpentinites as the drilling progressed northward toward the contact with the volcanics.
- Ground Acquisition. In late May, 2007, the Company acquired three important mineral claims (Hidden Valley, Hidden Valley 2 and Hidden Valley 3) adjoining to the south of the Company’s main block of claims. Consequently, the Company now owns sufficient mineral claims to cover the entire Ivanhoe Ridge ultramafic body, which is rhombic in shape with an area of about 7.5 square kilometers. This area will be the principal focus of the balance of the 2007 Drill Program. During July, the Company also acquired two mineral claims, White Buffalo and Golden Drip, filling in its gold camp claim holdings.
- Drill Core Analysis. The drill core from the 14 diamond drill holes was divided and a total of 2,077 core samples were sent to Assayer Canada, Vancouver. These samples were assayed for total nickel and cobalt using conventional ICP emission spectroscopy following a four acid digestion. In addition, all drill core samples from the serpentinites are being analyzed for nickel sulphide, magnesium, cobalt, chrome, magnetite and other elements by leaching and flame atomic absorption spectrophotometer at SGS Lakefield.
- Preliminary Results. The complete analytical data is now available for holes 1 through 4 for nickel, cobalt, chromium, magnetite and magnesium. Holes 5 through 14 are also being analyzed for the same minerals, including magnesium. The results of drilling on the southern half of the NE Ivanhoe Ridge line grid (0 to 400 m north) returned wide intersections of the magnesium rich nickel-cobalt- magnetite bearing serpentinites from the surface continuous to the depth of 80 meters to 184 meters. As presented in Summary of Serpentinite Intersections as set out below, the magnesium values range from a low of 24.4% in hole 2 to a high of 27.7% in hole 3. The northern half sector of the drill investigation is dominated by the intervened volcanic and sub-volcanic dykes within the serpentinites and fault-sheared disturbances. The serpentinites in the NE sector contain relatively decreased nickel values but with slightly increasing cobalt values, which are running slightly more than 0.01%. Based on core logging and analytical data, highlights of the intersected nickel, cobalt, chromium, magnetite and magnesium bearing serpentinites are summarized in the following chart. Assay results should be available shortly for the balance of Ivanhoe Ridge holes and will be reported when they have been received by the Company.
Summary of Serpentinite Intersections in Ivanhoe Ridge Drilling
Disclaimer: The nickel values reported above include nickel in both sulphide and non-sulphide minerals as total nickel.
- Nickel Analysis.
- The total nickel assay results indicate that the samples contain on average of approximately 0.24% nickel. The assaying was conducted at two independent laboratories and the results are consistent with Assayer Canada of Vancouver indicating 0.257% nickel and SGS Lakefield indicating 0.239% nickel.
- Sulphide nickel assaying can provide a rough indication of the amount of total nickel which is present in the sulphide form. The determination of nickel sulphide yielded a range of results from Assayer Canada’s 0.11% nickel to SGS Lakefield’s 0.088% nickel.
- Other Metals of Interest. In addition to the nickel, the drill core assay results indicated significant amounts of magnesium and cobalt. The metallurgical test work will examine the potential recovery of these metals.
- Mineralogy Testwork – SGS Lakefield. The mineralogy completed at SGS has some encouraging findings. Much of the sulphide present in the ore samples tested is nickel-based and ranges from pentlandite (approximately 30% Ni) to
haezelwoodite (approximately 70% Ni). These are generally minerals that are very receptive to sulphide flotation. They have relatively high nickel content, which should allow for higher grade concentrates to be produced. Grain sizes are of fair size with liberation not being too poor. SGS expects no major problems recovering these minerals through flotation (80-90% nickel sulphide recovery at grind size of 75 microns).
- Metallurgical Test Program – SGS Lakefield. To clarify the question of what metals can be economically liberated, the Company engaged SGS to undertake a metallurgical program proposed by SGS which would allow the Company to establish basic grindability characteristics, metallurgy, identify challenges, work through some elementary economics and hopefully provide a basis on which to move into successive phases of project development. Bulk samples from holes 1 and 3 are currently being delivered to SGS for this program.
- Continuation of the 2007 Drill Program – Hidden Valley. After completing the last drill hole (vertical Hole 14) testing the northeastern part of the Ivanhoe Ridge ultramafic, the drill was moved to the southwestern sector of the newly acquired Hidden Valley claims. Drilling was commenced on September 5, 2007 and a total of 2 holes have been completed from a program of 10 vertical NQ drill holes which have been laid out for drilling in Hidden Valley. Based on Open File 1990- 27, nickel values contained in the ultramafics of the Hidden Valley 3 claim appear to be higher than those in the northeastern sector of Ivanhoe Ridge. In Hidden Valley, a representative suite of 10 serpentinite samples averaged 0.24% nickel. Also some selected rock samples have been assayed up to 0.45% nickel versus
0.33 % nickel (the best nickel values of 1.5 m drill core sample) from DDHIV07-
1. In Hidden valley, a selective sampling returned an assay of 1.02 grams per tonne of platinum (Open File 1990-27, page 39).
- Gold Exploration Drilling. The Company has hired a second rig which is conducting gold exploration on the IXL and Golden Drip crown granted claims. There are still significant tonnes of the mine dump materials with visible rich sulfides in the surface of these crown granted claims. The ores produced from the IXL and Golden Drip claims were stockpiled and milled between 1977 and 1984.
The Company’s field activities are supervised and the technical data for this report was prepared by H. Kim, P.Geo/P.Eng (Practicing), the Company’s on-site Geologist.
About West High Yield
West High Yield is a 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 and nickel properties.
For further information please contact:
President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. 28 Arbour Lake Drive N.W.,
Calgary, Alberta T3G 3N8 Telephone: (403) 660-3488
Facsimile: (403) 206-7159
Email: [email protected]
Craig G. Robson
Vice President, Corporate Development and Investor Relations
West High Yield (W.H.Y.) Resources Ltd. Suite 620, 800 West Pender Street Vancouver, B.C. V6C 2V6
Telephone: (778) 886-7961
Facsimile: (604) 274-1431
The TSXV has neither approved nor disapproved the contents of this news release and does not accept responsibility for the adequacy or accuracy of this release.
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.
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