MONTRÉAL, QUÉBEC–(Marketwired – Nov. 23, 2016) – Yorbeau Resources Inc. (TSX:YRB.A) (the “Company” or “Yorbeau”) is pleased to report on recent diamond drilling results at its 100% owned Scott Lake project in Quebec.
Drill hole SC-87W3 intersected a 20.6 metre long interval of combined stringer and massive sulphides in the course of the follow-up program to test the eastern extension of the Gap Lens. This hole was a follow-up of hole SC-87W2 which had intersected over 46 metres of massive sulphides (press release of October 20, 2016). This mineralized interval, as were all previous intercepts released by the Company on the Gap Lens, are located outside of the mineral resources as currently estimated at the Scott project (see attached Figure 1).
Assay results are shown below:
DDH SC-87W3 Section 1850W (weighted averages)
| From (m) |
To (m) |
Length (m) |
Cu % |
Zn % |
Au g/t |
Ag g/t |
Remarks | |
| 927.7 | 948.3 | 20.6 | 0.7 | 5.9 | 1.0 | 50.9 | Stringer and massive sulphides (Gap Lens) with minor mafic dykes |
|
| including | ||||||||
| 932.0 | 938.5 | 6.5 | 0.9 | 6.4 | 2.3 | 73.3 | stringer sulphides | |
| and | ||||||||
| 939.0 | 948.3 | 9.3 | 0.6 | 7.1 | 0.5 | 35.6 | massive sulphides with minor mafic dykes | |
As this is still preliminary drilling on the above mineralization, the exact shape and true width cannot be determined with certainty and the core lengths displayed in the above table do not represent the true thickness of the mineralization. However, at the depth of the mineralized zone, the dip of the hole was at 25 degrees and the horizontal thickness therefore represents 18.6 metres. Hole SC-87W3 was a wedge-cut about 32 metres above hole SC-87W2 (see attached Figure 1).
Company president Gérald Riverin stated: “We are happy to see with this last hole that the spectacular 46 metre length of the massive sulphides interval reported last month in SC-87W2 was more than an odd occurrence, and that substantial mineralized widths may be indeed building up in that eastern sector. Two additional holes are planned in 50 metres step-outs further to the east.”
The revised resource estimate is progressing with Roscoe Postle Associates (RPA) and field visits and drill core reviews were completed by RPA in late October.
The Scott Lake property, 100% owned by Yorbeau, already hosts a number of polymetallic massive sulphide lenses. A resource estimate on Scott Lake was commissioned by Cogitore Resources and prepared by RPA in 2011. The RPA estimate showed combined inferred resources of 5.45 million tonnes grading 1.2% copper, 4.6% zinc, 0.2 g/t gold and 34 g/t silver, using an NSR cut-off of $80 per tonne (Technical Report prepared by Roscoe Postle Associates and filed by Cogitore Resources in 2011).
All drill core discussed in this press release was logged and marked up for assay at the Company’s secure facility in Chibougamau, Quebec. Drill core for assay was split in half. Half of the core was shipped in sample bags with appropriate standards, duplicates and replicates used for quality control purposes. The other half of the core is retained for future reference. Samples were shipped to Laboratoire ALS Chemex of Val d’Or.
Work is carried out by the personnel of Yorbeau, under the supervision of Gérald Riverin, PhD, P. Geo. He is a qualified person (as defined by NI 43-101) and has reviewed and approved the content of this release.
About Yorbeau Resources Inc.
The Company’s 100% controlled Rouyn Property contains four known gold deposits in the 6-km-long Augmitto-Astoria corridor situated on the western half of the property. Two of the four deposits, Astoria and Augmitto, have substantial underground infrastructure and have been the subject of NI 43-101 technical reports that include resource estimates. The Company recently announced signing an Option Agreement with an affiliate of Kinross Gold Corporation to pursue exploration on the Rouyn Property (see press release dated October 25, 2016). In 2015, the Company expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas of the Abitibi Belt of Quebec and Ontario that also feature infrastructure favourable for mining development. The newly acquired base metal properties include Scott Lake which hosts important mineral resources. The Company also owns the Beschefer project immediately adjacent to SOQUEM’s B-26 deposit and where, regionally, exploration interest has been increasing.
More information on the Company may be found on the Company’s website at www.yorbeauresources.com.
Figure 1 is available at the following address: http://media3.marketwire.com/docs/1077492_YRB_Figure1.pdf
Forward-looking statements: Except for statement of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
President
Yorbeau Resources Inc.
griverin@yorbeauresources.com
819-279-1336
G. Bodnar Jr.
Vice President
Yorbeau Resources Inc.
gbodnar@yorbeauresources.com
514-384-2202
Toll free in North America: 1-855-384-2202