 | | | Published : May 26th, 2010 | Intersects 33 Metres of Gold Mineralization With Thickest Interval to Date at |
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| May 26, 2010 |
| Yorbeau Intersects 33 Metres of Gold Mineralization With Thickest Interval to Date at the Rouyn Property |
MONTREAL, QUEBEC--(Marketwire - May 26, 2010) - Yorbeau Resources Inc. (TSX:YRB.A) ("Yorbeau"') is pleased to report significant results from drilling the Cinderella target on its Rouyn property.
Drill hole 10-CI-535 cut an impressive 33 m (core length) of mineralized rock that averages 3.35 g/t gold including an interval of 7.0 m with a grade of 9.59 g/t gold. The location of the hole is shown on the attached figure (http://media3.marketwire.com/docs/yorbeau_map.jpg) and details for hole 10-CI-535 are shown below:
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Drill Core Length
Hole(1) From (m) To (m) (m)(3) Au g/t Host Rock Unit
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535 481.0 514.0 33.0 3.35 HWZ(2) and Piche Group
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incl. 507.0 514.0 7.0 9.59 Piche Group
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incl. 511.0 514.0 3.0 16.70 Piche Group
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1: prefix 10-CI-
2: HWZ = hangingwall zone
3: the true width is expected to be approximately 70% of core width but may
vary where unrecognized structural complications occur.
The Company's drill program continues to locate excellent gold values in a previously unexplored portion of the property and continues to demonstrate its considerable upside potential. While previous drilling yielded mineralized intervals in both the Piche Group and metasediments of the footwall zone, Hole 535 cut mineralized intervals in the Piche Group and, for the first time in the Cinderella area, in the metasediments of the hanging-wall zone ("HWZ"). The HWZ contains the same mineralogy as the mineralized portions of the footwall zone elsewhere in the Cinderella (e.g., hole 519, see press release of September 23, 2009), Lake Gamble and Astoria areas. The 33 metre interval reported above straddles the contact between the hangingwall metasediments and the mineralized Piche Group. Visible gold occurs both in HWZ and the Piche Group in Hole 535.
The 33-metre-long intercept of gold mineralization in hole 10-CI-535 is of particular importance because of the length of the gold zone. This hole may have penetrated a major mineralized shoot, which indicates the potential for an extensive gold zone of large volume. Hole 535 intersected this zone less than 500 m from the surface, which allows for significant vertical extension to this zone, both towards the surface and to depth. Management considers this hole to be a major step forward in the exploration of the Augmitto-Astoria corridor.
Drilling at widely-spaced intervals (+/-200 m) has penetrated several high-grade gold zones at Cinderella that are inferred to represent multiple mineralized shoots, the orientations of which will be determined when drilling is shifted to a tighter drilling pattern (50-100 m spacing). The objective of the current drilling program is to locate these high-grade zones, which then become targets for more closely-spaced drilling.
Assays were also received for two additional holes that encountered several, closely-spaced gold-mineralized intervals, which indicates that mineralizing processes were particularly strong in this area. The best assay results from drill holes 533 and 534 in the Cinderella area are shown in the following table.
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Drill Core Length
Hole(1) From (m) To (m) (m)(3) Au g/t Host Rock Unit
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533 442.0 443.0 1.0 4.93 Piche Group
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554.12 554.75 0.63 21.3 FWZ(2)
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534 453.0 454.0 1.0 7.66 Piche Group
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463.0 464.0 1.0 3.39 Piche Group
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1: prefix 10-CI-
2: FWZ = footwall zone
3: the true width is expected to be approximately 70% of core width but may
vary where unrecognized structural complications occur.
Drill hole 10-CI-537 was completed on May 17; assays are pending. Drill hole 10-CI-538 is in progress and should penetrate the target zone about 100 m below hole 10-CI-535. Drill holes 10-CI-536, 537 & 537A were abandoned in the upper Temiskaming sediments due to extreme deviation of the holes, which was probably caused by faults. Drill holes 10-CI-520A, 530, 531 & 532 did not encounter significant mineralization.
Potential of the Rouyn Property
Yorbeau's Rouyn property straddles a 12-km-long section of the Cadillac-Larder Lake Break (CLLB), yet the Augmitto-Cinderella area is only a 2-km-long portion of it. An additional 3-km-long portion to the east of Cinderella includes the Lake Gamble discovery and the Astoria mine. The Company is also drilling at the Lake Gamble-Astoria area (see press releases of February 25 and March 24, 2010) with the objective of expanding the known gold mineralization in that area.
The remaining 7-km-long portion of the CLLB on the Company's property, east of the Astoria mine, is grossly underexplored but contains several geophysical anomalies detected by the Company's surveys in 2008 (see press release of May 21, 2008) that are yet to be tested by drilling, as well as multiple targets identified by geologic interpretation and historical data. There is excellent exploration potential in this eastern portion and significant probability of additional discoveries of gold mineralization, especially because the Piche Group, a major host to gold deposits in the region, extends the entire 12 km controlled by Yorbeau.
2010 Objectives: Yorbeau's short-term objective is to extend and define the gold mineralized areas at Lake Gamble - Astoria and at Cinderella - Augmitto. Both of these areas have excellent potential to host major mesothermal gold deposits of the style prevalent in the Abitibi gold camps.
The Company's medium-term objectives are to: 1) drill holes in the Cinderella and deep Augmitto areas to follow zones of high-grade gold mineralization identified by widely-spaced drilling in 2008, 2009 and early 2010; 2) expand drilling to depth and to the east of the Astoria mine to test the abundant drill targets identified by the Company's geophysical surveys and certain historical data; and 3) initiate an independent NI 43-101 compliant resource evaluation.
The qualified person under National Instrument 43-101 is Laurent Halle, P.Geo., who has reviewed and approved the content of this release.
Samples are analyzed at ALS-Chemex in Val-d'Or, Quebec. All samples are analysed by standard fire assay. Samples returning more than 3 g/t are re-analyzed by fire assay with a gravimetric finish. Yorbeau has implemented a QA/QC program that consists of inserting blanks and gold standards in batch samples being sent to the assay laboratory. Selected pulp samples will also be re-analysed by a different laboratory.
CEO clip: Thomas Robyn, President and CEO of Yorbeau, was interviewed at PDAC and discussed the Rouyn property's significant potential for discovery of major gold deposits. His interview can be viewed on the Company's web page at www.yorbeauresources.com.
Annual Meeting: Yorbeau Resources will hold its 2010 Annual Meeting at 11:00 am, Friday June 4, at the Fairmont The Queen Elizabeth Hotel in Montreal.
About Yorbeau Resources Inc.
The raison d'etre of Yorbeau is to identify a world class gold deposit in a major mining camp. Against the backdrop of a market that is steadily more welcoming for gold, Yorbeau is poised to significantly increase the known gold resources on its properties in Northern Quebec.
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. | |
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Yorbeau Resources Inc.
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EXPLORATION STAGE |
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CODE : YRB-A.TO |
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ISIN : CA9861913023 |
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Yorbeau is a gold exploration company based in Canada. Yorbeau holds various exploration projects in Canada. Its main exploration properties are ROUYN, ASTORIA, AUGMITTO & CINDERELLA, LAKE GAMBLE BLOCK, BESCHEFER and ELLISON in Canada. Yorbeau is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 22.4 millions as of today (US$ 17.5 millions, € 15.3 millions). Its stock quote reached its highest recent level on December 29, 2000 at CA$ 1.80, and its lowest recent point on April 24, 2015 at CA$ 0.04. Yorbeau has 263 440 266 shares outstanding. |
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