Valterra Acquires Strategic Mineral Claims in BC
July 19, 2012
Valterra Resource Corporation (“Valterra”) reports the acquisition by staking of over 1,400 hectares of new mineral claims in two regions of British Columbia. Mineral claims totaling approximately 125 hectares were added in southeast BC at the Au-Ag-Cu Star-Toughnut property where Valterra has been actively exploring since 2008. These newly acquired mineral claims have consolidated the majority of the existing claim package and cover mineralization-trends identified in past drill programs.
A new property named “Kemano Gold” was staked in northwestern BC comprising approximately 1,290 hectares of contiguous claims in the Kemano/Terrace area which were recognized by Valterra in past generative work as being highly prospective for Au, Cu, and Ag.
One of the more promising zones on the Kemano Gold property is the “K-Zone” which was initially explored by others through surface sampling and trenching in the 1980s. The assessment reporting identifies numerous precious and base metal sample results from a NE-SW trending corridor striking intermittently for over 3.5 kilometres. One of the best reported assays came from a small bulk sample which yielded 1.494 oz/t Au (46.47 g/t), 3.13 oz/t Ag (97.35 g/t), & 5.01% Cu.(1)
The Kemano Gold property covers mineralized fault/shear zones in roof pendants of Permian-aged Gamsby Group metasediments and volcanics within Coast Range granodiorite bodies. The mineralization may be related to structurally controlled moderate to high sulphidation quartz veins. The property is accessible via the Sandifer Lake logging road which passes through the western portion of the property and connects to tidewater at Kemano Landing. Exploration activities have commenced with the compilation of historic data and a ground program is proposed for late 2012.
Valterra also reports that it has granted incentive stock options to directors, officers and consultants to purchase 630,000 common shares at $0.10 per share, exercisable for a period of five years in accordance with Valterra’s stock option plan. The options are subject to acceptance for filing by the TSX Venture Exchange.
In addition, Valterra announces that it has issued 80,000 common shares to a creditor in settlement of an outstanding debt of $40,000. The shares are subject to a hold period until November 19, 2012. The debt settlement has received TSX Venture Exchange acceptance.
About Valterra Resource Corporation
Valterra is a Manex Resource Group Company. The group provides expertise in exploration, administration, and corporate development services for Valterra’s mineral properties located in British Columbia and Ontario. Valterra is focussed on early stage properties with the potential to host large deposits, in regions with excellent infrastructure. Over the last several years, Valterra has acquired and explored several key projects including “Star-Toughnut”, “Swift Katie” and “Bobcaygeon” which are located near roads, rail, power, and resource communities in Canada.
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Brian McGrath, P.Geo., is the Qualified Person responsible for reviewing the technical information presented in this release.
On behalf of the Board of Directors,
Frederick Sveinson, President, Valterra Resource Corporation
For further information, please visit Valterra’s website at valterraresource.com or contact Liana Shahinian at 1.888.456.1112 or 604.641.2773 or by email at firstname.lastname@example.org.
Neither TSX Venture Exchange 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.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. These statements are based on a number of assumptions, including, but not limited to, assumptions regarding general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for Valterra Resource Corporation’s projects, and the availability of financing for Valterra Resource Corporation’s development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions. Valterra Resource Corporation does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable law.
(1) Cautionary Note to Investors: The sampling results presented are historical and represents selective sampling by nature which is unlikely to reflect the average grades of the mineral occurrences. Valterra Resource Corporation has not verified this historical data.
This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Valterra Resource Corporation relies upon litigation protection for forward looking statements.