Harper Creek Drill Holes HC11-83 and HC11-84 Confirm Mineralization 500m Beyond Northern Limit of Drill Holes in PEA Resource Mo
April 26 2011 - 8:00AM
Marketwired Canada
Yellowhead Mining Inc. ("Yellowhead") (TSX VENTURE:YMI) is pleased to report the
results from the eighth and ninth drill holes of the winter drill program,
HC11-83 and HC11-84. These holes are in line along strike with Hole HC10-82
previously reported, and Hole HC11-85 as the most northerly drill holes
completed at the Harper Creek deposit to date. The new hole results are
presented on sections with resampled historical holes.
Section 305300E
Hole HC11-83
Holes HC11-83 is part of a four-hole fence (including historical holes J-32 and
J-34 as well as Yellowhead's hole HC08-64) at the north-eastern limit of the
resource on Section 305300E. Hole HC11-83 is collared 118m west of hole HC10-82
and 513m north of J-32.
The significant intersections from Hole HC11-83 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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HC11-83 249.92 257.80 7.88 0.27 0.9 14
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264.34 294.50 30.16 0.24 0.8 18
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303.89 322.17 18.28 0.27 0.8 48
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339.80 395.60 55.80 0.35 1.5 31
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420.33 425.30 4.97 0.55 3.5 28
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Please refer to the Cross Section Map:
http://www.yellowheadmining.com/i/pdf/2011-04-26-CrossSection305300E-83.pdf
And Drill Plan Map:
http://www.yellowheadmining.com/i/pdf/2011-04-26-Drill-Plan-Map.pdf
or available at www.yellowheadmining.com
In addition, the results from resampling historical holes J-32 and J-34 for
precious metals are presented below.
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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)
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J-32 100.58 131.06 30.48 0.29 NA(1) NA(1)
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167.67 246.89 79.22 0.52 NA(2) NA(2)
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incl 188.06 193.55 5.49 0.45 1.2 144
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and 207.87 208.48 0.61 0.46 1.1 100
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and 213.97 219.46 5.49 0.51 1.2 132
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and 223.42 233.32 9.90 0.72 1.9 121
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and 240.18 242.62 2.44 0.72 1.4 258
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256.03 262.13 6.10 0.26 0.8 25
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(1) Missing core: 100.58-166.73 m
(2) Missing core: 193.55-207.87 m
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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)
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J-34 70.10 73.15 3.05 0.22 0.3 5
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82.30 85.34 3.04 0.33 1 18
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124.97 140.21 15.24 0.31 1 63
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152.40 225.55 73.15 0.46 NA(1) NA(1)
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incl 163.37 169.47 6.10 0.70 2.2 148
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and 179.22 183.79 4.57 0.62 1.7 122
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and 189.89 191.11 1.22 0.48 1.4 155
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(1) Missing core: 194.77-201.93 m
Section 305170E
Hole HC11-84
Holes HC11-84 is part of an 11-hole fence (including historical holes 96-3, J-8,
J-15, J-26 and J-31) on Section 305170E. Holes HC11-84 was collared 122m west of
hole HC11-83 and 385m north of hole 96-3.
The significant intersections from Hole HC11-84 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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HC11-84 207.61 310.78 103.17 0.29 1.1 27
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324.21 330.22 6.01 0.33 1.3 24
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395.03 403.03 8.00 0.45 1.7 11
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512.98 527.39 14.41 0.57 1.7 33
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Please refer to the Cross Section Map:
http://www.yellowheadmining.com/i/pdf/2011-04-26-CrossSection305170E-84.pdf
The results from resampling historical holes 96-3, J-31, J-26, J-15 and J-8 for
precious metals are presented below.
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Significant intersections - 0.2% Cu Cut-off
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Historical Resampling
Hole Interval (m) Results Results (1)
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From To Length Cu (%) Ag (ppm) Au (ppb)
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96-3 144.00 165.00 21.00 0.29 0.8 16
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192.00 243.00 51.00 0.31 1.2 53
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249.00 270.00 21.00 0.63 1.8 80
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276.00 315.00 39.00 0.33 1.1 19
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324.00 330.00 6.00 0.26 1.1 15
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(1) Resampled results based on re-analysis of original pulp samples
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Significant intersections - 0.2% Cu Cut-off
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Historical Resampling
Hole Interval (m) Results Results (1)(2)
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From To Length Cu (%) Ag (ppm) Au (ppb)
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J-31 112.78 131.06 18.28 0.26 NA(3) NA(3)
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152.40 155.45 3.05 0.26 NA(3) NA(3)
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164.59 207.26 42.67 0.29 NA(3) NA(3)
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incl 201.17 202.69 1.52 0.34 1.8 165
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213.36 274.32 60.96 0.43 NA(4) NA(4)
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280.42 286.51 6.09 0.33 NA(5) NA(5)
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(1) Missing core: 7.01-20.42 m
(2) Missing core: 33.83-111.86 m
(3) Missing core: 126.19-197.51 m
(4) Missing core: 225.55-246.89 m
(5) Missing core: 253.29-288.95 m
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Significant intersections - 0.2% Cu Cut-off
----------------------------------------------------------------------------
Historical Resampling
Hole Interval (m) Results Results
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From To Length Cu (%) Ag (ppm) Au (ppb)
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J-26 76.20 94.49 18.29 0.25 0.5 18
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100.58 103.63 3.05 0.20 0.5 10
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118.87 128.02 9.15 0.24 0.8 25
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134.11 146.3 12.19 0.32 1.3 63
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152.40 158.50 6.10 0.49 NA(1) NA(1)
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164.59 228.6 64.01 0.49 1.7 67
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incl 176.78 195.07 18.29 0.54 1.9 113
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(1) Missing core: 246.89-254.20 m
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Significant intersections - 0.2% Cu Cut-off
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Historical Resampling
Hole Interval (m) Results Results
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From To Length Cu (%) Ag (ppm) Au (ppb)
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J-15 36.58 45.72 9.14 0.22 0.8 18
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51.82 60.96 9.14 0.25 0.8 25
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70.10 76.20 6.10 0.22 0.6 25
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85.34 185.93 100.59 0.40 1.3 41
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268.22 271.27 3.05 0.20 1.0 15
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Significant intersections - 0.2% Cu Cut-off
----------------------------------------------------------------------------
Historical Resampling
Hole Interval (m) Results Results
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From To Length Cu (%) Ag (ppm) Au (ppb)
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J-8 39.62 42.67 3.05 0.39 1.8 64
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57.91 280.42 222.51 0.40 NA(1) NA(1)
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incl 117.35 121.62 4.27 0.71 2.9 112
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and 240.79 242.62 1.83 0.50 3.3 136
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(1) Missing core: 121.62-128.02 m
Ian Smith, Chief Executive Officer, stated: "The results of drill holes HC11-83
and HC11-84 support the results of drill hole HC10-82, with significant widths
of copper mineralization encountered down-dip from the pit outline determined in
the 2011 Preliminary Economic Analysis. By stepping out up to some 500 m from
the previous northern limit of drilling, we have demonstrated both the apparent
continuity of the previously identified mineralized horizons and the potential
to increase the resource down-dip to the north. The resampling of historical
holes within the pit outline continues to establish continuity and pervasiveness
of precious metals across the resource."
Laboratory assays lag the drilling and logging by approximately six weeks. The
program is being managed by CME Consultants Inc. ("CME").
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. Further information is available in the NI
43-101 compliant technical report entitled "Technical Report and Preliminary
Assessment of the Harper Creek Project" dated March 31, 2011 and filed under the
Company's profile on SEDAR at www.sedar.com.
Harper Creek Project
Harper Creek is a copper-gold-silver volcanogenic sulphide deposit with a
measured and indicated resource of 563.2 million tonnes grading 0.31% Cu (3.6
billion pounds of copper) plus 0.032g/t gold and 1.08 g/t silver, plus an
inferred resource of 117 million tonnes grading 0.29% Cu (0.7 billion pounds of
copper). Mineralization occurs as a series of tabular bodies hosted within the
Eagle Bay Assemblage metavolcanic and metasedimentary rocks.
About Yellowhead Mining Inc.
Yellowhead has a 100% interest in the Harper Creek Project, (subject to the
payment of a 3% NSR royalty capped at $2.5 million, adjusted for inflation and
an additional 2.5% NSR royalty on an estimated 3.3 million tonnes of ore which
is expected to be mined beginning in year nine within the NI 43-101 resource).
The Harper Creek Project is a large copper-gold-silver project located in
south-central British Columbia, approximately 150 kilometres by highway from
Kamloops.
FORWARD-LOOKING STATEMENTS AND CAUTIONARY DISCLAIMER
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.
This news release includes disclosure of scientific and technical information,
as well as information in relation to the calculation of resources, with respect
to the Harper Creek Project. Yellowhead's disclosure of mineral resource
information is governed by National Instrument 43-101 - Standards of Disclosure
for Mineral Projects ("NI 43-101") under the guidelines set out in the Canadian
Institute of Mining, Metallurgy and Petroleum (the "CIM") Standards on Mineral
Resources and Mineral Reserves, adopted by the CIM Council, as may be amended
from time to time by the CIM ("CIM Standards"). There can be no assurance that
mineral resources will ultimately be converted into mineral reserves. Mineral
resources are not mineral reserves and do not have demonstrated economic
viability. This news release uses the terms "measured", "indicated" and
"inferred" resources. U.S. persons are advised that while such terms are
recognized and required by Canadian regulations, the U.S. Securities and
Exchange Commission does not recognize them. "Inferred Resources" have a great
amount of uncertainty as to their existence and as to their economic and legal
feasibility. It cannot be assumed that all or any part of an inferred resources
will ever be upgraded to a higher category. Under Canadian rules, estimates of
inferred resources may not form the basis of feasibility or other economic
studies. U.S. persons are cautioned not to assume that all or any part of
measured or indicated resources will ever be converted into reserves. U.S.
persons are also cautioned not to assume that all or any part of an inferred
mineral resource exists, or is economically or legally mineable.
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