Yellowhead Mining Inc.: Harper Creek Drill Hole HC10-82 Confirms Mineralization Beyond Northern Limit of Drill Holes in 2010 Res
March 05 2011 - 8:56PM
Marketwired Canada
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
Yellowhead Mining Inc. (TSX VENTURE:YMI) is pleased to report the results from
the seventh drill hole of the on-going winter drill program. This hole, HC10-82,
is part of a three-hole fence (including historical holes J-33 and J-35) at the
north-eastern limit of the resource on Section 305420E. Hole HC10-82 is the most
northerly drill hole completed at the Harper Creek deposit to date. It is
located 285 metres north of hole J-33 (on section) and 480 metres north and 200
metres west of Hole HC10-80 (reported on February 22, 2011).
The significant intersections from Hole HC10-82 are presented in the table below.
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Significant Intersections - 0.2% Cu Cut-off
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Hole Interval (m) Results
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From To Length Cu % Ag ppm Au ppb
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HC10-82 253.40 279.32 25.92 0.25 0.7 12
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319.25 372.45 53.20 0.37 1.2 61
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407.25 414.20 6.95 0.31 2.3 22
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450.32 458.71 8.39 0.28 1.6 7
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561.45 565.54 4.09 0.33 1.8 19
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Please refer to the Cross Section Map
http://www.yellowheadmining.com/i/pdf/CrossSection305420E-82.pdf.
And Drill Plan Map
http://www.yellowheadmining.com/i/pdf/DDH-PlanMap2011-03-05.pdf or available at:
www.yellowheadmining.com.
Ian Smith, Chief Executive Officer, stated, "The location of drill hole HC10-82
represents a significant step-out and the results confirm continuity of
mineralization within and beyond the 2010 NI43-101 Resource pit, at the northern
limits of that resource and demonstrates the potential to increase the resource
down-dip to the north and at depth."
Laboratory assays lag the drilling and logging by approximately six weeks. The
program is being managed by CME Consultants Inc. ("CME").
HISTORICAL DRILL RESULTS
The company's program of resampling historical core for precious metals
continues in parallel with new drilling.
A total of 374 samples representing 607.19 metres of core has been returned from
three holes since sampling resumed in January 2011. This brings the total amount
of core that has been resampled by YMI to 108 holes from which 7,421 samples
(15, 843.71m) have been analysed for precious metals. When the resampling
program is completed this Spring, YMI expects to have close to 72% of historical
holes resampled for precious metals.
Results from the two historical holes that are on section with hole HC10-82 are
presented in the table below.
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Significant Intersections - 0.2% Cu Cut-off
---------------------------------------------------------------------------
Historical
Hole Interval (m) Results Resampling Results
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From To Length Cu % Ag ppm Au ppb
---------------------------------------------------------------------------
J-33 219.46 225.55 6.09 0.46 2.8 30
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256.03 320.04 64.01 0.57 NA(1) NA(1)
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incl 265.18 286.51 21.33 0.63 1.9 136
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329.18 335.28 6.10 0.38 0.8 23
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(1) No core available from 247.80 to 262.43 metres
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Significant Intersections - 0.2% Cu Cut-off
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Historical
Hole Interval (m) Results Resampling Results
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From To Length Cu % Ag ppm Au ppb
---------------------------------------------------------------------------
J-35 164.59 173.74 9.15 0.24 0.9 38
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179.83 207.26 27.43 0.35 NA(2) NA(2)
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incl 185.96 187.45 1.49 0.39 2.6 135
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and 192.02 195.22 3.20 0.68 2.2 157
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213.36 237.74 24.38 0.34 NA(3) NA(3)
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246.89 268.22 21.33 0.22 0.7 12
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incl 228.60 233.17 4.57 0.55 1.5 118
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(2) No core available from 201.78 to 208.79 metres
(3) No core available from 212.45 to 214.27 metres
Please refer to the plan map showing the status of the resampling program
http://www.yellowheadmining.com/i/pdf/DDH-PlanMap2011-03-05-Resampled.pdf
Historical Core Resampling, or available at: www.yellowheadmining.com.
HARPER CREEK PROJECT
Harper Creek is a copper-gold-silver volcanogenic sulphide deposit with an
indicated resource of 569 million tonnes grading 0.32% Cu (4,010,000,000 pounds
of copper), plus an inferred resource of 62.7 million tonnes grading 0.33% Cu
(460,000,000 pounds of copper) plus as yet an unquantified resource of gold and
silver. Mineralization occurs as a series of tabular bodies hosted within the
Eagle Bay Assemblage met-volcanic and met-sedimentary rocks.
QUALIFIED PERSON
Christopher O. Naas, P.Geo. B.Sc., Project Manager for Yellowhead's Harper Creek
Project, is a qualified person as defined by National Instrument 43-101 and
prepared or reviewed the preparation of the scientific and technical information
in this press release with respect to the assay results from the Harper Creek
drill program.
SAMPLE COLLECTION, ANALYSES, AND QA-QC
All core processing was undertaken by CME personnel. Core was cut by electric
motorized rock saw with half core shipped to Eco Tech Laboratory Limited, part
of the Stewart Group (Eco Tech), in Kamloops, BC for sample preparation and
analysis. Drill core samples were analyzed for gold by fire assay with an AA
finish and multi-elements by total digestion ICP-ES. Core samples returning
greater than 2,000 ppm copper in the ICP-ES process were then assayed for
copper. In addition to control samples inserted by CME, the analytical
laboratory routinely inserted their own control samples, which consisted of
standards, blanks and sample repeats.
ABOUT YELLOWHEAD MINING INC.
Yellowhead has a 100% interest in the Harper Creek Project subject to the
payment of a 3% NSR royalty on 775 ha and a 2.5% NSR royalty on 618 ha, which
includes an estimated 3.3 million tonnes of resource expected to be mined
starting in year nine of the mine plan. The Harper Creek Project is a large
copper-gold-silver project located in south-central British Colombia,
approximately 150 kilometers by highway from Kamloops.
FORWARD-LOOKING STATEMENTS
Except for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable securities laws.
Forward-looking information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate" and other
similar words, or statements that certain events or conditions "may" or "will"
occur. Forward-looking statements are 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
statements, including, among others, the accuracy of mineral grades and related
assumptions, inherent operating risks, planned expenditures, proposed
exploration and development at the Harper Creek Project, operating and economic
aspects of the Harper Creek Project, as well as those risk factors identified in
the Filing Statement filed under the Company's SEDAR profile. Yellowhead
undertakes no obligation to update forward-looking information if circumstances
or management's estimates or opinions should change except as required by law.
The reader is cautioned not to place undue reliance on forward-looking
statements. More detailed information about potential factors that could affect
financial results is included in the documents filed from time to time with the
Canadian securities regulatory authorities by Yellowhead.
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