Vancouver, British Columbia--(Newsfile Corp. - August 27, 2024) - Valleyview Resources Ltd. (TSXV: VVR) ("Valleyview" or the "Company") is pleased to announce the completion of its 2024 field program on the Fraser Lake Property, located 38 km northwest of Fort St. James within the Omineca Mining Division of British Columbia. Highlights of the program include:
13.85 g/t gold and 212 g/t silver from a 10cm rusty quartz vein hosting galena and sphalerite;
1.9 g/t gold and 19.9 g/t silver from a pitted quartz vein showing hematite and manganese
1.215 g/t gold and 10.25 g/t silver from a 5cm quartz rich felsic dyke showing 0.5% pyrite
Identification of structural lineaments and outcrops by LiDar
"The 2024 program showed significant precious metal potential within the Fraser Lake property," commented Valleyview CEO Joel Leonard. "Indications of epithermal style mineralization noted during the prospecting program combined with elevated precious metal values suggest further exploration should be undertaken focused on the structural lineaments identified from the LiDar survey," he continued.
During the second quarter of 2024, a team from Tripoint Geological Services Ltd. conducted extensive rock sampling, prospecting, and soil sampling, followed by a 103.9km2 LiDAR survey, on the Fraser Lake Property. The program focused on areas identified in historical programs: a hornfels alteration and coincidental magnetic high in the southwest claim block and outcropping limestone with a coincidental magnetic high in the southeast claim block. A total of 19 rock samples and 277 soil samples were collected and sent to ALS Global in North Vancouver.
Prospecting uncovered fresh felsic intrusive rocks with gold-bearing quartz veins, some of which exhibit epithermal textures. The highlight result was 13.85 grams per tonne ("g/t") gold and 212 g/t silver in rock sample (sample F925759), with 3 of the 19 samples returning gold values in excess of 1 g/t. There were numerous elevated silver values across the southwest claim block soil grid, though a definite trend was not apparent. The maximum soil value was 106 ppb Au and 1.81 ppm silver with 20 samples returning values in excess of 0.5 ppm Ag. In the southeast block, a semi-continuous limestone ridge was found to be mainly unaltered, with only weak skarn alteration observed in one location. The source of the magnetic high in this area remains buried beneath a thick till cover.
The LiDAR survey was successful in showing potential structural lineaments for further follow up and highlighting outcrop locations that will help make future exploration efforts more efficient.
Figure 1. 2024 Surface Samples Gold (Au gpt)
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Geochemical samples were sent to ALS Global Geochemistry Lab in North Vancouver for assay using PREP-31, Au-AA23, and ME-MS61 methods for the rock samples, and PREP-41, AuME-TL43 method for the soil samples. Two QA/QC samples including a Certified Blank and Certified Standard were inserted into the rock samples. Six Certified Blanks were inserted into the soil samples along with five Field Duplicate samples being collected. No QA/QC issues were identified.
The technical content of this press release has been reviewed and approved by R.Tim Henneberry P.Geo. (BC), a consultant to the Company and a Qualified Person under National Instrument 43-101.
About Valleyview Resources Ltd.
Valleyview Resources Ltd. is a mineral exploration company dedicated to the identification, acquisition, and exploration of mineral properties including the Company's Fraser Lake Au-Ag-Cu project in British Columbia and the Coyote Basin and Red Wash Uranium Projects in Colorado, which the Company is in the process of acquiring. The Company's strategic vision is to develop and expand its mineral resource portfolio through diligent exploration and development efforts.
For further information, please contact:
Joel Leonard
Chief Executive Officer
Valleyview Resources Ltd.
Tel: 778-838-3692
Email: joel.leonard@jclpartners.ca
Neither the 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 includes certain statements and information that may constitute "forward-looking information" within the meaning of applicable Canadian securities laws. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". All statements in this news release, other than statements of historical facts, including statements regarding future estimates, plans, objectives, timing, assumptions or expectations of future performance are forward-looking statements and contain forward-looking information, including, but not limited to, the completion of the Proposed Transaction.
Forward-looking statements are based on certain material assumptions and analysis made by the Company and the opinions and estimates of management as of the date of this news release, including, but not limited to the assumption that all conditions to completion of the Proposed Transaction will be satisfied, including TSX Venture Exchange, approval of the Shift Shareholders and completion of the Concurrent Financing. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including, but not limited to: the risk that the TSX Venture Exchange will not approve the Proposed Transaction, the risk that the Company will not be successful in completing the Concurrent Financing and inherent risks associated with the mining industry and the results of exploration activities and development of mineral properties, stock market volatility and capital market fluctuations, general market and industry conditions, as well as those risk factors discussed in the Company's most recently filed management's discussion & analysis.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws.
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SOURCE: Valleyview Resources Ltd.
