45,320,394 Common Shares Issued WEST HIGH YIELD ANNOUNCES LATEST 2011 DRILL RESULTS
WEST HIGH YIELD (W.H.Y.) RESOURCES LTD. NEWS RELEASE For Immediate Release Thursday, October 27, 2011 Calgary, Alberta TSXV Trading Symbol: WHY 45,320,394 Common Shares Issued
WEST HIGH YIELD ANNOUNCES LATEST 2011 DRILL RESULTS
Calgary, Alberta, October 27, 2011 – West High Yield (W.H.Y.) Resources Ltd. ("West High Yield" or the "Company") announces that it has completed its 2011 resource definition drill program on its Record Ridge magnesium property, located near Rossland, British Columbia. In the 2011 program, the Company drilled and completed 26 NQ diamond drill holes totalling 4,000 metres. The Company previously reported the results of 10 holes (RRS 11-1 through 10) and the Company has now received the assay results for 7 additional drill holes. All drill holes intersected broad zones of magnesium bearing ultramafic rock (serpentinized dunite, wehrlite and lehzolite-simply named serpentinite). RRS 11-11 mainly intersected monzosyenite and RRS 11-13 intersected several zones of magnesium bearing ultramafic rocks mixed with intervened sub-volcanic and intrusive dykes. The other five (5) holes all intersected broad zones of rich magnesium bearing ultramafic rock (serpentinite). Of noteworthy interest is hole RRS 11-16 which yielded 150.3 metres of 24.7 % magnesium. The remaining assay results will be available by the end of November. The chart below summarizes the results for the recent 7 holes and the map attached as a schedule to this news release identifies the location of the drill holes from the programs from 2007, 2008 and the current 2011 program.
| DDH # | Depth (Metres) | Length(Metres) (True Width) | Magnesium % | Rock Type | |
|---|---|---|---|---|---|
| From | To | ||||
| RRS 11- 11 | 4.0 | 10.3 | 6.3 | 2.41 | Monzosyenite |
| 10.3 | 13.6 | 3.3 | 20.7 | Serpentinite | |
| 13.6 | 38.5 | 24.9 | 3.38 | Monzosyenite | |
| 38.5 | 43.2 | 4.7 | 20.1 | Serpentinite | |
| 43.2 | 87.5 | 44.3 | N/A | Monzosyenite- not sampled | |
| RRS 11- 12 | 0 | 38.1 | 38.1 | 21.3 | Serpentinite |
| 38.1 | 46.9 | 8.8 | 3.4 | Monzosyenite | |
| 46.9 | 128.4 | 81.5 | 21.2 | Serpentinite including two dykes (1 m and 1.7m) | |
| 128.4 | 138.7 | 10.3 | N/A | Monzosyenite –not sampled | |
| RRS 11- 13 | 2.4 | 31.9 | 29.5 | 23.6 | Serpentinite |
| 31.9 | 44.3 | 12.4 | 2.4 | Monzosyenite | |
| 44.3 | 80.9 | 36.6 | 20.9 | Serpentinite | |
| 80.9 | 104.5 | 23.6 | 2.0 | Monzosyenite | |
| 104.5 | 115.1 | 10.6 | 23.2 | Serpentinite | |
| 115.1 | 124.3 | 9.2 | 3.0 | Diagabbro | |
| 124.3 | 131.0 | 6.7 | 22.8 | Serpentinite | |
| 131.0 | 141.3 | 10.3 | 2.0 | Monzosyenite | |
| 141.3 | 151.8 | 10.5 | 24.4 | Serpentinite |
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| RRS 11- 14 | 2.4 | 152.4 | 150.0 | 23.7 | Serpentinite |
| RRS 11- 15 | 1.5 | 47.6 | 46.1 | 23.1 | Serpentinite |
| 47.6 | 56.0 | 8.4 | 7.6 | Monzosyenite | |
| 56.0 | 152.4 | 96.4 | 24.0 | Serpentinite | |
| RRS 11- 16 | 2.1 | 152.4 | 150.3 | 24.7 | Serpentinite including one dyke (2,8 m) |
| RRS 11- 17 | 2.4 | 55.2 | 52.8 | 23.4 | Serpentinite |
| 55.2 | 67.0 | 11.8 | 2.8 | Monzosyenite and Diagabbro | |
| 67.0 | 152.4 | 85.4 | 25.5 | Serpentinite |
The Company also advises that it previously reported that it is proceeding with an NI 43-101 Preliminary Economic Assessment (PEA) Report in respect of the Company’s Record Ridge magnesium project. The 2011 drill program will provide additional geotechnical data for the PEA and has expanded the grid over the Company’s magnesium discovery. The PEA is being prepared by SRK Consulting Engineers of Denver, Colorado and after additional metallurgical studies the Company anticipates that the PEA will be completed in the first quarter of 2012. The Company also plans to proceed with Pre-feasibility and Feasibility studies on its Record Ridge magnesium project. It should be noted that the applications and uses of magnesium have increased in the past few years particularly in battery technology, automobiles, aircraft and other technology applications. The current price for magnesium in North America is $5,200 per tonne.
About the Company
West High Yield is a publicly traded junior mining exploration company focused on the acquisition, exploration and development of mineral resource properties in Canada with a primary objective to locate and develop economic gold, nickel and magnesium properties. The Company's operations are currently being conducted on its Rossland Gold Camp property located 2.5 kilometers west of the town of Rossland, B.C. The Company controls approximately 6,223 contiguous hectares of mineral and crown granted claims and is exploring for gold on its primary properties which are the Midnight, OK and IXL crown grants and for magnesium on the Company’s Ivanhoe Ridge, Hidden Valley and Record Ridge properties.
For further information please contact:
Frank Marasco Dwayne Vinck President and Chief Executive Officer Chief Financial Officer West High Yield (W.H.Y.) Resources Ltd. West High Yield (W.H.Y.) Resources Ltd. Calgary, Alberta Calgary, Alberta Telephone: (403) 660-3488 Telephone: (403) 257-2637 Facsimile: (403) 206-7159 Facsimile: (403) 206-7159 Email: [email protected] Email: [email protected]
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