MONTRÉAL, QUÉBEC–(Marketwired – Oct. 20, 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-87W2 intersected a 46.3 metre long massive sulphide interval zone in the course of the follow-up program to test the eastern extension of the Gap Lens. This follow-up program was initiated based on recent drilling and on borehole geophysics as explained in the June 13, 2016 press release. Assays were also received for other mineralized intervals along the Gap Lens in holes SC-86 and SC-87W. These mineralized intervals, 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-87W2 Section 1800W (weighted averages)
| From (m) |
To (m) |
Length (m) |
Cu % |
Zn % |
Au g/t |
Ag g/t |
Remarks |
| 938.3 | 984.6 | 46.3 | 0.5 | 9.7 | 0.5 | 29.1 | massive sulphides (Gap Lens) with minor mafic dykes |
| including | |||||||
| 955.0 | 961.0 | 6.0 | 0.6 | 17.3 | 0.2 | 38.3 | massive sulphides |
| and | |||||||
| 973.1 | 984.6 | 11.5 | 0.3 | 15.8 | 0.2 | 25.5 | massive sulphides |
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 massive sulphide zone, the dip of the hole was at 31 degrees; assuming a sub-vertical dip for the massive sulphide zones, and taking into account the 31 degree dip of the hole, the core length may represent over 90% of the horizontal thickness.
Assays were received also for two other holes, SC-86 and SC-87W, while hole SC-87 did not hit massive sulphides and instead ended in intrusive rocks of the Chibougamau Pluton (see attached Figure 1).
Assays for holes SC-86 and SC-87W are shown below:
DDH SC-86 Section 1950W (weighted averages)
| From (m) |
To (m) |
Length (m) |
Cu % |
Zn % |
Au g/t |
Ag g/t |
Remarks |
| 859.7 | 871.5 | 11.8 | 0.3 | 4.3 | 0.1 | 20.3 | massive sulphides and mafic dykes |
| including | |||||||
| 859.7 | 862.6 | 2.9 | 0.7 | 6.5 | 0.2 | 45.6 | massive sulphides |
| and | |||||||
| 868.1 | 871.5 | 3.4 | 0.3 | 9.2 | 0.1 | 23.5 | massive sulphides |
The core lengths obtained may not reflect the true width of the mineralization. The mineralized zone in SC-86 consists of an initial 2.9 metre long interval of massive sulphides, followed by a complex combination of high grade massive sulphides bands entangled with mafic dykes that act as internal dilution of the overall mineralized interval. SC-86 is interpreted as being close to the west limit of the Gap Lens (see attached Figure 1).
DDH SC-87W Section 1800W (weighted averages)
| From (m) |
To (m) |
Length (m) |
Cu % |
Zn % |
Au g/t |
Ag g/t |
Remarks |
| 980.0 | 983.1 | 3.1 | 0.3 | 4.9 | 0.2 | 33.9 | stringer sulphides |
Hole SC-87W was a wedge-cut above original hole SC-87 which did not intersect mineralization and ended in barren intrusive rocks of the Chibougamau Pluton at the expected position of the Gap Lens horizon.
Company president Gérald Riverin stated: “We were very pleasantly surprised by the spectacular 46 metre length of the massive sulphides interval in SC-87W2, which probably is one of the best holes ever drilled in the Chibougamau mining camp. The hole was designed largely based on geophysical vectors as well as computer modelling of the data in surrounding holes, but was also approved in part to close-off the Gap Lens to the east. However, instead of closing-off mineralization, it may have opened up a significant new sector along Gap Lens horizon. As a result, drilling will continue to test for possible extensions of the thick massive sulphides up-dip and to the east. We are looking forward to pursuing drilling in this sector.”
While additional follow-up drilling is still in progress, the Company has just commissioned Roscoe Postle Associates (RPA) to initiate a revised resource estimate and a Technical Report in accordance with National Instrument 43-101 (“NI 43-101”) on the whole property, including the newly discovered Gap Lens and also the historical Selco deposit which has never been subject to a NI 43-101 resource estimate.
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. For holes SC-86 and SC-87W, samples were shipped to Techni-Lab S.G.B. Abitibi Inc. (ACTLABS) of Ste-Germaine-Boulé, Quebec. For hole SC-87W2, 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 a Letter of Intent with Kinross Gold Corporation to pursue exploration on the Rouyn Property. 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.
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.
Gerald Riverin, Ph D., P. Geo
President
819-279-1336
[email protected]
Yorbeau Resources Inc.
G. Bodnar Jr.
Vice President
514-384-2202 or Toll free in North America: 1-855-384-2202
[email protected]
www.yorbeauresources.com
