CALGARY, ALBERTA – September 24, 2020. West High Yield (W.H.Y.) Resources Ltd. (“West High Yield” or the “Company”) (TSXV:WHY) announces that the BC Ministry of Mines has granted the Company a drilling permit for the drilling of 22 drill holes of up to 600 metres per hole and an aggregate of 20,000 metres on the Company’s Midnight Gold Claim located in the Rossland Gold Camp. The Rossland Gold Camp historically produced over 2.76 million ounces of recovered Gold and 3.52 million ounces of recovered Silver. Historical gold production and geological work and drill holes conducted by the Company’s results reinforce the potential of the Midnight Claim.
The Company is utilizing the analysis from the 26 gold drill hole program conducted by the Company in 2009 on its Midnight Claim. All holes intersected a series of quartz veins and gold bearing serpentinites with significant gold values, notably hole MN09-15, which returned weighted average of 40.1 g/tonne over a true width of 2.3 metres including 198 g/tonne Au for a true width of 0.8 metres near surface (13.9 metres in drill depth) and hole MN09-24, which returned a weighted average of 25.16 g/tonne over a true width of 3.6 metres including 73.23 g/tonne Au for a true width of 1.2 metres. Highlights of the 2009 Drill Program are set out below.
|Grade Au (g/t)
|Listwanized serpentinite 8 g/t Ag including 85.48 g/t Au and 58.2 g/t over 1 m
|Mixed Qtz + listwanized serp. 4.4 g/t Ag including
38.21 g/tonne Au & 53.3 g/tonne Au over 0.6 m &
0.5 m, respectively
|MN 09 -15
|Green serp. & soapstone (19.7 g/tonne Ag including 198 g/t Au over 0.8 m
|Mixed Qtz veins & serpentinite including 73.23 g/t Au over 1.5 m
Based on the previously released 2009 drill core results, the Company plans to further define the gold mineralization on its Midnight Claim in order to allow the Company to proceed with a mineral resource estimate pursuant to National Instrument 43-101.
“The Midnight Claim contains high-grade quartz–carbonate veins with native gold and minor silver and sparse sulphides. The Company is encouraged by the theory given by many of its senior geology consultants that the series of gold-enriched quartz veins and gold bearing serpentinites identified by the drill holes to date, have been enriched from a contained deeper source. In accordance with this hypothesis, the Company planned the next drill holes to be drilled to a depth of at least 600 metres per hole”, stated Cory Peck, P.Geo., who advises the Company.
Set out below is a map of the Geology on the Midnight Claim.
Geological Cross Section on the Midnight Claim
The chart below depicts recorded past production from up to 1941 from the combined Midnight, IXL and OK Claims, which are now part of the Company’s land base in Rossland, British Columbia.
|GRADE Au g/t
|Grade Au OPT
“The Company is excited and energized by the convergence of global market opportunities for West High Yield. Our ability to further define the potential of the Midnight Gold Claim will be an additional value driver in addition to the next steps in the commercialization of the Company’s proven magnesium asset coupled with the nickel and high grade silicate to be produced through our proprietary and environmentally sensitive extraction process. The Company thanks the shareholders for their patience and continued support of this green mining project”, stated President and CEO, Frank Marasco Jr.
About West High Yield
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.
For further information, please contact:
President and Chief Executive Officer West High Yield (W.H.Y.) Resources Ltd. Telephone: (403) 660-3488
Facsimile: (403) 206-7159
Email: [email protected]
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. More particularly and without limitation, this press release contains forward looking statements and information concerning the Company’s business plans. The forward-looking statements and information are based on certain key expectations and assumptions made by the Company. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Company can give no assurance that they will prove to be correct.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada and globally; industry conditions, including governmental regulation; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, skilled personnel and supplies; changes in tax laws; and the other factors. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward-looking information for anything other than its intended purpose. The Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law.
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