Yellowhead Mining Inc. Reports Step-Out and In-Fill Drill Results from 2011 Program
2012年2月21日 - 11:00PM
PR Newswire (Canada)
TSXV: YMI VANCOUVER, Feb. 21, 2012 /CNW/ - Yellowhead Mining Inc.
("Yellowhead" or the "Company") is pleased to report results for
certain Holes from HC11-120 through HC11-130 which represent a
series of "step out" holes drilled following the completion of
resource drilling (ref. News Release February 16, 2012) to further
investigate mineralization along strike, down dip and at
depth. The holes were positioned to the east and west of the
proposed pit limit. In addition two in-fill holes were
drilled near the centre of the deposit, to support the block model
estimates and provide increased confidence in the resource estimate
in that area. Please refer to Drill Plan Map
http://www.yellowheadmining.com/i/pdf/2012-02-21-Drill-Plan-Map.pdf.
Section 303580E Please refer to the Cross Section Map
http://www.yellowheadmining.com/i/pdf/2012-02-21-CrossSection303580.pdf.
Holes HC11-120 and HC11-121 are part of a three-hole fence
(including historical hole NH-10 at the western limit of the
resource on Section 303580E. The holes intersected two
mineralized zones indicating the potential to expand the resource
to the west. The significant intersections from these holes are
presented in the tables below.
______________________________________________________ |Significant
intersections |
|______________________________________________________| |
|Interval (m) |Results | |Hole
|____________________|________________________| | |From |To
|Length|Cu (%)|Ag (g/t)|Au (g/t)|
|________|______|______|______|______|________|________|
|HC11-120|38.00 |91.94 |53.94 |0.38 |0.9 |0.058 |
|________|______|______|______|______|________|________| |incl
|46.00 |61.00 |15.00 |0.82 |1.4 |0.140 |
|________|______|______|______|______|________|________| |
|221.64|270.91|49.27 |0.30 |2.5 |0.047 |
|________|______|______|______|______|________|________| |incl
|245.60|270.91|25.31 |0.40 |3.3 |0.058 |
|________|______|______|______|______|________|________|
______________________________________________________ |Significant
intersections |
|______________________________________________________| |
|Interval (m) |Results | |Hole
|____________________|________________________| | |From |To
|Length|Cu (%)|Ag (g/t)|Au (g/t)|
|________|______|______|______|______|________|________|
|HC11-121|103.00|149.00|46.00 |0.24 |1.1 |0.025 |
|________|______|______|______|______|________|________| |
|301.00|330.82|29.82 |0.25 |1.7 |0.023 |
|________|______|______|______|______|________|________| Section
304600E Please refer to the Cross Section Map
http://www.yellowheadmining.com/i/pdf/2012-02-21-CrossSection304600.pdf.
Hole HC11-123 is part of a seven-hole fence near the centre of the
deposit on Section 304600E. This infill hole supports the
block model estimates from the PEA and increases confidence in the
resource estimate. The significant intersections from this hole are
presented in the table below.
______________________________________________________ |Significant
intersections |
|______________________________________________________| |
|Interval (m) |Results | |Hole
|____________________|________________________| | |From |To
|Length|Cu (%)|Ag (g/t)|Au (g/t)|
|________|______|______|______|______|________|________|
|HC11-123|44.50 |61.00 |16.50 |0.29 |1.1 |0.027 |
|________|______|______|______|______|________|________| | |91.44
|105.99|14.55 |0.30 |1.4 |0.016 |
|________|______|______|______|______|________|________| |
|121.00|133.49|12.49 |0.27 |1.6 |0.018 |
|________|______|______|______|______|________|________| Section
304720E Please refer to the Cross Section Map
http://www.yellowheadmining.com/i/pdf/2012-02-21-CrossSection304720.pdf.
Hole HC11-125 is part of a five-hole fence near the centre of the
deposit on Section 304720E. As with hole HC11-123, this
infill hole further supports the block model estimates from the PEA
and increases confidence in the resource estimate. The significant
intersections from this hole are presented in the table below.
___________________________________________________ |Significant
intersections |
|___________________________________________________| | |Interval
(m) |Results | |Hole |_________________|________________________| |
|From|To |Length|Cu (%)|Ag (g/t)|Au (g/t)|
|________|____|_____|______|______|________|________|
|HC11-125|3.60|35.00|31.40 |0.32 |1.4 |0.022 |
|________|____|_____|______|______|________|________| Section
305620E Please refer to the Cross Section Map
http://www.yellowheadmining.com/i/pdf/2012-02-21-CrossSection305620.pdf.
Hole HC11-124 is part of a six-hole fence near the eastern edge of
the PEA pit limit on Section 305620E. It is collared 118m south of
Hole HC11-87, the best hole drilled to date on the property, with
242. 52m @ 0.39% Cu, announced on May 27, 2011. This infill hole
demonstrates the potential to expand resources at depth and to the
south, as well as increasing mineable tonnage below the PEA pit
bottom. The significant intersections from this hole are presented
in the table below.
______________________________________________________ |Significant
intersections |
|______________________________________________________| |
|Interval (m) |Results | |Hole
|____________________|________________________| | |From |To
|Length|Cu (%)|Ag (g/t)|Au (g/t)|
|________|______|______|______|______|________|________|
|HC11-124|294.67|330.31|35.64 |0.34 |1.5 |0.024 |
|________|______|______|______|______|________|________| |
|375.60|444.68|69.08 |0.30 |1.4 |0.013 |
|________|______|______|______|______|________|________| |incl
|375.60|389.77|14.17 |0.83 |2.3 |0.039 |
|________|______|______|______|______|________|________| Section
305720E Please refer to the Cross Section Map
http://www.yellowheadmining.com/i/pdf/2012-02-21-CrossSection305720.pdf.
This hole was collared 100 m east along strike from hole
HC11-87. It confirms that significant resources are expected
to be added along strike at the eastern limit of the PEA pit.
______________________________________________________ |Significant
intersections |
|______________________________________________________| |
|Interval (m) |Results | |Hole
|____________________|________________________| | |From |To
|Length|Cu (%)|Ag (g/t)|Au (g/t)|
|________|______|______|______|______|________|________|
|HC11-126|260.13|283.67|23.54 |0.38 |1.5 |0.030 |
|________|______|______|______|______|________|________| |incl
|260.13|271.00|10.87 |0.62 |2.2 |0.044 |
|________|______|______|______|______|________|________| |
|294.00|369.82|75.82 |0.45 |2.1 |0.035 |
|________|______|______|______|______|________|________| |incl
|332.11|343.35|11.24 |1.37 |6.3 |0.103 |
|________|______|______|______|______|________|________| |
|378.20|459.05|80.85 |0.31 |1.3 |0.016 |
|________|______|______|______|______|________|________| Section
305860E Please refer to the Cross Section Map
http://www.yellowheadmining.com/i/pdf/2012-02-21-CrossSection305860.pdf.
This hole demonstrates continued potential to increase resource
tonnage with mineable widths, along strike to the east, outside the
PEA pit limit.
______________________________________________________ |Significant
intersections |
|______________________________________________________| |
|Interval (m) |Results | |Hole
|____________________|________________________| | |From |To
|Length|Cu (%)|Ag (g/t)|Au (g/t)|
|________|______|______|______|______|________|________|
|HC11-130|257.98|284.43|26.45 |0.52 |1.6 |0.003 |
|________|______|______|______|______|________|________| |incl
|268.24|278.68|10.44 |0.97 |2.8 |0.065 |
|________|______|______|______|______|________|________| |
|307.89|359.29|51.40 |0.33 |1.9 |0.030 |
|________|______|______|______|______|________|________| |
|403.64|450.72|47.08 |0.40 |2.6 |0.027 |
|________|______|______|______|______|________|________| Ian Smith,
President and Chief Executive Officer, stated: "These results
confirm our previous hypothesis that the ore body is open along
strike, down dip to the north and at depth. Also, the in-fill
drilling shows the high degree of continuity of the deposit and
confirms the projection of resources in the PEA in areas previously
sparsely drilled." The program was 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, Analysis and QA/QC Core was cut by electric rock saw
with half core shipped to the ALS Group for sample preparation and
analysis. Independent laboratory checks were performed by Acme
Analytical Laboratories Ltd. Drill core samples were analyzed
for multi-elements by total digestion ICP-ES and for gold by fire
assay with an AA finish. Core samples returning greater than 2,000
ppm copper in the ICP-ES process were then assayed for
copper. Key elements of Yellowhead's QA/QC program include
chain of custody of samples, regular insertion of certified
reference standards and blanks, and duplicate check assays. About
Yellowhead Mining Inc. and the Harper Creek Project The Harper
Creek Project is a copper-gold-silver volcanogenic sulphide deposit
with an updated Measured and Indicated Resource of 815 million
tonnes grading 0.29% Cu (5.26 billion pounds of copper) plus 0.032
g/t gold and 1.3 g/t silver, plus an Inferred Resource of 80.2
million tonnes grading 0.30% Cu (0.53 billion pounds of copper),
announced in a news release dated February 16, 2012 entitled
"Yellowhead Mining Updates Mineral Resource Estimate For Harper
Creek Project". The Harper Creek Project is located in
south-central British Columbia, approximately 150 kilometers by
highway north of Kamloops. Yellowhead has a 100% interest in
the Harper Creek development project((1)). A Preliminary
Economic Assessment Report ("PEA"), which demonstrated the
technical and economic viability of the Project, was completed at
the end of March and filed on SEDAR on April 1, 2011 and can be
viewed on www.sedar.com. The PEA demonstrated a 22 year
project life based on a Measured & Indicated resource of 532
million tonnes at a grade of 0.31%, a milling rate of 70,000 tonnes
per day, producing 149 million lbs. copper in concentrate per year
for years one to eight, (132Mlb/year life-of-mine), a life-of-mine
stripping ratio 0.88:1, a pre-tax IRR of 19.8% with a base case
copper price of US$2.66/lb., an NPV8 of US$598 million and a
capital cost of C$759 million in Q4 2010 dollars, including
contingency, with a 4 year payback((2)). (1) (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.) (2) Mineral resources are
not mineral reserves and do not have demonstrated economic
viability. 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 Company's
Annual Information Form 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 may include 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 resource 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. Neither the TSX Venture Exchange Inc. nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. Yellowhead Mining Inc. CONTACT: Ronald
Handford, Executive Vice President, Corporate DevelopmentDirect:
604.681.1709 ext. 204Email: rhandford@yellowheadmining.comEmail:
info@yellowheadmining.comWebsite: www.yellowheadmining.comTwitter:
http://twitter.com/YMI_Mining
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