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Valterra Resource Updates on Exploration Program at Toughnut Zone, BC

Valterra Resource Corporation (CNSX:VTA)(FRANKFURT:3VA) reported that intercepts from two of the remaining drill holes on the Toughnut zone continues to expand the occurrences width and lateral dimensions based on the recent 2010 diamond drill exploration program at the Au-Ag-Cu porphyry/shear-hosted "Star Project" located in southeast British Columbia.

Drill intercept highlights at the Toughnut zone:

  • VTN10-004 : 1.12 g/t Au & 4.24 g/t Ag over 10.86 metres

  • VTN10-002 : 1.71 g/t Au & 0.35 g/t Ag over 2.0 metres

President Lawrence Page, Q.C. commented, "We are very pleased with how our exploration investment is being rewarded and the Company's technical effort (airborne geophysics, geologic compilation, and drilling) has started to unlock the potential of this metallogenic-enriched region whose exploration history dates to the mid-1800s."

The Company completed a total of 1,438 metres in seven NQ2/BTW-sized drill holes. The drilling centred on three of the five-known gold-silver +/- copper zones that are contained within a prospective 3.5 kilometre-long polymetallic mineral trend transecting the claim blocks. The initial phase of Toughnut zone drilling was highlighted by an intercept of 4.05 g/t Au and 0.88 g/t Ag over 8.0m in hole VTN10-005 (see NR-07-10). Drilling by Valterra has defined an open-ended mineral body at Toughnut measuring approximately 200 metres of strike length that is located more than 3.0 kilometres southeast of the Eureka zone.

The signature of the rocks intercepted in the drilling are consistent with a zoned porphyry model subjected to shear-fault/hydrothermal activity that generated focused zones of higher-grade. Zone targeting was aided by several recent technical programs implemented by Valterra in Q2 2010. Firstly, a geological consultant was retained to prepare a technical (compilation) report on the Star-Toughnut dataset which outlines several geophysical, geological and reverse circulation/diamond drilling programs spanning a 25-year period. Secondly, a 30 square kilometre airborne EM-MAG survey was flown by Aeroquest Ltd. over the entire +1,900 hectare claim block (see NR-03-10). Lastly, the airborne data was subjected to detailed processing analyses by a geophysical consultant whose work refined and sharpened numerous airborne anomalies warranting follow-up.

Valterra has recently received permit approval and anticipates undertaking a Phase II exploratory drill program on several anomalies in the area during Q3/Q4 of 2010 including:

  • Toughnut - additional drill fences are proposed, especially south of holes VTN10-003 and -005 to test the extension of the multiple zones returned in those holes where gold assays graded up to 6.95 g/t.

  • Gold Eagle - select drilling is anticipated in this on-strike region favourably juxtaposed approximately 900m northwest of the Toughnut zone and roughly 1.2km southeast of the Alma N zone. Historical (unverified) high-grade assays for drilling conducted in 1988 at the Gold Eagle included 90.0 g/t Au and 80.9 g/t Ag over 1.52m in hole S88-43. Additionally in 2010, Valterra field geologists collected a grab sample from a strongly brecciated and altered outcrop located nearby that returned 4.73 g/t Au and 8.2 g/t Ag.

  • Other targets potentially subject to drilling in this Phase II proposal are the Eureka Trend + 450 Trend (poorly-tested, parallel-trending, resistivity anomalies measuring 2.3km and 1.6km in length, respectively), Alma N, and Atlas zones.

2010 QA/QC Protocols

Core samples were analyzed at Acme Analytical Laboratories Ltd. located in Vancouver BC, for Au + 41 elements by Fire Assay (FA)/Inductively Coupled Plasma (ICP)/Emission Spectroscopy (ES) and Four-Acid Digestion/ Inductively Coupled Plasma (ICP)/Mass Spectroscopy (MS) using appropriate calibration standards. Additionally, any samples assaying >10.0 g/t Au are re-analyzed using a Gravimetric finish.

Valterra implemented established QA/QC quality protocols throughout the core sampling process comprising "blind" insertions of a variety of standard pulps, blanks and field duplicated samples. Certified analytical standards were utilized from suppliers CDN Resource Laboratories Ltd. and WCM Minerals Limited and overall approximately 10% of the total assays were QA/QC-related; the results of which were carefully monitored in order to verify the assaying quality.

Brian McGrath, P.Geo., is the Qualified Person responsible for reviewing the technical results reported in this release.

Source: Valterra Resource Corporation


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