Valley High Mining Reports Positive Initial Results on Its Machacala Project
CENTENNIAL, Colo., Nov. 13, 2012 (GLOBE NEWSWIRE) -- Valley High Mining Company (OTCQB:VHMC) today announced that it has received initial internal test results on the tailings pile at its Machacala Project located in the district of Carabamba, Julcan Province, La Libertad, Peru. The average gold grade over the multiple tests on the tailings exceeded previous sampling in historical reports. The average silver grade of the multiple tests on the tailings came in less than findings in previous studies on the property.
Valley High CEO Andrew Telsey stated, "We were expecting a gold grade of around 1.2g/T, but the results came back with an average grade of 1.71g/T. We were expecting a silver grade of around 2.44oz/T, but the results came back with an average grade of 1.84oz/T. Generally speaking, we were very pleased with these results."
The Company believes that the combination of all the sample results validated the premise that production of the tailings is economical and viable. While no assurances can be provided, on the basis of the test results the Company believes it can recover approximately 85%+ of the gold and approximately 40–50% of the silver in the 210,000 tons of tailings with the plant it plans to put into operation.
About Valley High Mining Company
The Company has a continued focus on the evaluation, acquisition, exploration and development of mineral resource properties in Peru. In addition to its Machacala Project discussed above, the Company has recently acquired an interest in the Madre de Dios Project. Madre de Dios is a 400 hectare fully permitted alluvial concession in current production. It is located in the prolific Amazon River basin of Peru, approx 108 kilometres from Puerto Maldonado and easily accessed from the Trans-Oceanic Highway which crosses the Andean watershed.
Andrew Telsey, CEO and President
ph: (303) 768-9221
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