September 29, 2011
West High Yield (W.H.Y.) Resources Ltd. (TSX VENTURE:WHY) (“West High Yield” or the “Company”) announces that it has drilled and completed 22 drill holes of 26 planned holes in the Company’s 2011 resource definition drill program on its Record Ridge magnesium property, located in Rossland, British Columbia. Upon completion of the 2011 drill program, the Company will proceed with a NI 43-101 Preliminary Economic Assessment (PEA) Report in respect of the Company’s Record Ridge Magnesium Project. The objectives of the 2011 drill program are to provide geotechnical data for the PEA, expand the grid over the Company’s 2007 and 2008 magnesium discovery and to investigate the limits of the Company’s magnesium deposit found to date. The PEA is being prepared by SRK Consulting Engineers of Denver, Colorado and the Company anticipates that the PEA will be completed in early 2012. Upon completion of the PEA and provided that the Company continues to see favourable and positive results in its drilling, testing and metallurgical programs, the Company plans to proceed with Pre-feasibility and Feasibility Studies on its Record Ridge Magnesium Project.
The Company previously reported the results of its 2007 and 2008 Record Ridge drill program consisting of 51 NQ diamond drill holes totalling 6,340 meters with 3,874 assays. The Company also reported that it obtained a NI 43-101 Report on this property with indicated and measured resources aggregating 9,160,000 metric tonnes of magnesium based on the 2007 and 2008 drilling results. The analytical work for the drill program is being conducted by SGS Canada Inc. and ALS Minerals, both of Vancouver, BC. As a QA/QC grade control, selected one-half drill core cut duplicates were tested by ALS Minerals and Acme Analytical Laboratories Ltd. The accompanying map illustrates the 26 planned holes for the 2011 drill program in relation to the 51 holes drilled on the Record Ridge Magnesium Project in 2007 and 2008.
The Company has now received the assay results of the initial 10 drill holes from the 2011 drill program. The first two holes, RRS 11-01 and RRS 11-02 were drilled to confirm an intrusive (waste rock), which was indicated in the earlier drilling program and lying between the southern and northern deposits. The other 8 holes intersected broad zones of rich magnesium bearing ultramafic rock (serpentenized dunite, wehrlite and lehzolite – simply named serpentinite). The holes RRS 11-03 to RRS 11-06 were step-out holes 100 metres to the west of the previous drilling on the northern deposit. Of particular interest is hole RRS 11-04 which yielded 152.4 metres from surface grading 24% magnesium. Holes RRS 11-7 to RRS 11-10 indicated good values extending 800 metres to the north of the previous drilling limit. In this series, RRS 11-08 indicated 151.8 metres of 23.7% magnesium. The drilling has not tested the depth of the serpentinite and based upon the results to date, management believes that the magnesium bearing serpentinite remains open to depth and extends to the north and the west. The Company is currently drilling its 23rd hole and will drill 3 more to complete the 2011 program. All drilling should be completed by the end of October and full assay results will be delivered by the end of November. The assay results are set out in detail in the table below.
| DDH # | Depth | (metres) | Length (True | Magnesium | Rock Type | |||||||
| From | To | Width) (metres | ) | % | ||||||||
| Basaltic andesite to | ||||||||||||
| RRS 11-1 | 3.0 | 165.4 | 162.4 | 7.58 | Diagabbro | |||||||
| 165.4 | 185.6 | 20.2 | 22.3 | Serpentinite | ||||||||
| RRS 11-2 | 3.0 | 244.4 | 241.4 | 2.9 | Monzosyenite and Diagabbro | |||||||
| RRS 11-3 | 2.1 | 153.2 | 151.1 | 22.2 | Serpentinite | |||||||
| 153.2 | 175.9 | 22.7 | 4.7 | Monzosyenite | ||||||||
| RRS 11-4 | 0 | 152.4 | 152.4 | 24.0 | Serpentinite | |||||||
| RRS 11-5 | 2.1 | 125.4 | 123.3 | 21.6 | Serpentinite | |||||||
| 5.2 | 23.1 | 17.9 | 17.3 | Sheared/faulted serpentinite | ||||||||
| RRS 11-6 | 23.1 | 28.2 | 5.1 | 6.9 | Diagabbro | |||||||
| 28.2 | 143.9 | 115.7 | 23.1 | Serpentinite | ||||||||
| 0.6 | 54.6 | 54.0 | 23.0 | Serpentinite | ||||||||
| RRS 11-7 | 54.6 | 78.7 | 24.1 | 8.1 | Diagabbro | |||||||
| 78.7 | 152.4 | 73.7 | 26.1 | Serpentinite | ||||||||
| RRS 11-8 | 0.6 | 152.4 | 151.8 | 23.7 | Serpentinite | |||||||
| RRS 11-9 | 0.6 | 149.3 | 148.7 | 23.4 | Serpentinite | |||||||
| 1.5 | 40.9 | 39.4 | 22.5 | Serpentinite | ||||||||
| 40.9 | 49.8 | 8.9 | 5.8 | Diagabbro | ||||||||
| RRS 11-10 | 49.8 | 88.0 | 38.2 | 22.0 | Serpentinite | |||||||
| 88.0 | 96.0 | 8.0 | 2.5 | Diagabbro | ||||||||
| 96.0 | 152.4 | 56.4 | 23.7 | Serpentinite |
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 currently being conducted on its Rossland Gold Camp property located 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 on its primary properties which are the Midnight, OK and IXL crown grants and for magnesium on the Company’s Ivanhoe Ridge, Hidden Valley and Record Ridge properties.
45,320,394 Common Shares Issued
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Contact Information
West High Yield (W.H.Y.) Resources Ltd.
Frank Marasco
President and Chief Executive Officer
(403) 660-3488
(403) 206-7159 (FAX)
[email protected]
West High Yield (W.H.Y.) Resources Ltd.
Dwayne Vinck
Chief Financial Officer
(403) 257-2637
(403) 206-7159 (FAX)
[email protected]