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By: AllPennyStocks.com
Canada is once again making its mark as a resource-based economy as glad tidings
of its economic recovery are becoming known. And on this occasion, it’s not just
the marquee metals such as gold that are scooping up the attention. One
Vancouver-based junior mining company is displaying its diverse talents for
finding a variety of metals and bringing it to market.
On the first day of June, Valley High Ventures Ltd. (TSX-Venture:VHV) released
the results of one of its drill holes, as part of a drill program at the Cordero
silver, gold, zinc and lead, porphyry district located 35 kilometres northeast
of Chihuahua, Mexico.
In a bit more detail, hole C10-41 is located approximately 1,350 metres
northeast of the Pozo De Plata zone and returned long intervals of elevated
silver, zinc and lead over its entire 503.45-metre length, ending when the hole
was lost in broken, but still mineralized rock. Silver intervals ranged up to
296 metres, gold up to 466 metres, zinc up to 170 metres. Lead mineralization
ranged up to 19.8 grams per ton, silver equivalent up to 0.03%.
VHV is a precious and base metal exploration company with projects located in
Mexico, British Columbia and the Yukon. The Cordero project in Mexico (49%
interest) is being evaluated for large bulk mineable silver, gold, zinc and lead
deposits.
Closer to home, the Mount Polley project, located in British Columbia is
adjacent to Imperial Metals Corporation's (TSX:III) Mt. Polley copper-gold mine.
It also includes a production royalty on the Boundary Property, with Imperial.
In the Yukon, Valley High has an option to acquire a 100% interest in the Flume
gold property, located within the newly recognized White Gold District. Valdez
Gold Inc. (TSX-Venture:VAZ) has been granted a right to earn up to 75% interest
in Valley High's interest in the Flume property. Coro Mining Corp. holds a 20.5%
interest in Valley High.
Meanwhile, back in Mexico, an eight-hole, 2,840-metre drill program was
completed last October to drill test a number of defined bulk tonnage Ag-Au-Zn-Pb
targets at its Cordero project. In October, the Company also drill tested a
number of targets at its Mt. Polley Property. In June of last year, VHV optioned
the Flume property from Freeport McMoran in the White Gold District in the
Yukon.
The stock price for this ambitious junior miner peaked in April at 83 cents, as
word was getting out more forcefully about activity in the gold field. VHV
bottomed out in price early last June at a dime. News of the good results in
Mexico prompted a bout of buying, with more than 145,000 shares changing hands
on June 1, boosting the price up around 50 cents. That may be a kind of bargain
basement that small cap investors wish to explore before the summer is out.
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