Mill Bay to start drilling at Valentine Mountain

Top Quote Mr. William glasier reports mill bay ventures plans deep drilling on valentine mountain discovery zone. End Quote
  • (1888PressRelease) October 13, 2011 - Mill Bay Ventures Inc. is planning to conduct a deep drilling program at the Discovery zone of its Valentine Mountain project.

    The Valentine Mountain claims, located 40 miles west of Victoria on southern Vancouver Island, cover approximately 7,084 acres (2,867 hectares) along a trend estimated to be seven kilometres long and 0.5 kilometre wide. The property hosts an inferred mineral resource, known as the C and B veins of the Discovery zone, with a resource estimate of 55,105 tonnes grading 16.3 grams per tonne gold, equivalent to 0.475 ounce per ton gold. (This resource is National Instrument 43-101 compliant. See the company's website for the April, 2011, technical report by Jacques Houle, PEng.) The claims also host at least six additional gold-bearing quartz-sulphide vein occurrences, which are part of a seven-kilometre-long gold corridor extending west from West Leech R to Jordan R.

    Deep drilling is planned to intersect the depth extension of the C and B veins at 250 to 400 metres depth (collar locations greater than 200 metres from surface showings, drilling 500-metre inclined holes). The objective of the deep drilling is to expand present inferred resource totals for the Discovery zone.

    Sample From To Interval Au Au

    No. DDH No. (m) (m) (m) (g/t) (troy ounces/ton)

    52537 V11DDH-4 172.82 174.1 1.31 1.22 0.036
    52551 V11DDH-4 242.99 243.99 1.0 0.62 0.018
    52671 V11DDH-5 194.1 195.7 1.6 1.11 0.032

    The results are based on analysis of split core sampling, supervised by Andris Kikauka, PGeo, the company's qualified person for the property. The split core samples were analyzed by ALS Minerals in North Vancouver, B.C. (certificate VA11101001).

    Further in-depth evaluations of the gold-bearing mineralization and lateral extensions of the Discovery zone, as well as detailed surface sampling and mapping of the middle and upper BN zone, are planned for Valentine Mountain.

    The contents of this news release have been reviewed by Mr. Kikauka, PGeo, a qualified person under National Instrument 43-101 guidelines, responsible for reporting geological and geochemical results from the Valentine Mountain gold project.

    We seek Safe Harbor.

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