Valley High Mining is a precious metals exploration and development company. Its focus is on lower risk precious metal opportunities and recently the company has completed its due diligence on two projects in Peru which include the Oro Puno Project and the Machacala Project.
The company today announced that it has executed a joint venture agreement with Corizona Mining Partners LLC, which develops mineral assets throughout the Americas in conjunction with various partners. The joint venture will see Valley High Mining become a majority owner of a 966-hectare gold project located in La Libertad, Peru, called the Machacala Project. The company will contribute a total of $2 million in direct investment, of which an initial $250,000 has already been advanced, to further develop the project.
The Machacala Project is located in the district of Carabamba, Julcan Province, La Libertad, Peru. As a result of previous exploration activities, a large volume (200,000 tons) of tailings were produced and remain on site. These tailings are a by-product of certain structures on the site which the company believes warrant further exploration. Valley High expects the completion of a 43-101 report by mid-October 2012.
This project is the first of several that the company plans to undertake in Peru, which has a rich history of successful precious metal mining stretching back for centuries. For additional information about Valley High Mining and its projects, please visit the company's website at valleyhighmining.com.
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