Yorbeau Engages Roscoe Postle Associates Inc. for Resource Estimate on Augmitto Deposit
Montreal, May 10, 2011 - Yorbeau Resources Inc. (�Yorbeau�) is pleased to announce that it has accepted a proposal from Roscoe Postle Associates Inc. to prepare a mineral resource estimate and supporting NI 43-101 Technical Report for the Augmitto Block on the Company�s Rouyn Property.
The Augmitto deposit, which was the focus of much historical work by previous owners, lies at the western extremity of the Rouyn Property. Detailed compilation work by the Company over the last several months, which integrates new information on the geological structures coming from the drilling programs over the last two years, has led to a re-interpretation of historical drill data and the recognition of important controls for gold mineralization. The current drill program, which is on-going and focused on the Augmitto deposit, has been designed to include in-fill and definition drilling with a view to growing the Company�s NI 43-101 compliant resources. It is anticipated that Roscoe Postle will be able to deliver the resource estimate during the month of June.
The Rouyn Property, which is located four kilometres south of the city of Rouyn-Noranda, covers a twelve kilometre stretch of the Cadillac-Larder Lake Break. Over the last two years the Company�s drill programs have shown the continuity of the ore hosting structures and rock types on the property for a distance of approximately six kilometres from the Augmitto deposit to the Astoria mine.
At the present time the Company�s only NI 43-101 compliant resource is at the Astoria mine where there are 349,100 ounces of gold in the measured and indicated categories (2,000 ounces in the measured category and 347,100 ounces in the indicated category). Both Astoria and Augmitto benefit from the existence of extensive surface and underground infrastructure which would represent substantial savings in development cost in the event of commercial production.
About Yorbeau Resources Inc.
The raison d��tre 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.
For further information, please contact:
Thomas L. Robyn, Ph.D. David Crevier
President and CEO Chairman of the Board
Yorbeau Resources Inc. Yorbeau Resources Inc.
tlrobyn@yorbeauresources.com dcrevier@yorbeauresources.com
Tel.: 514-384-2202 Tel.: 514-284-3663
Toll free in North America: 1-855-384-2202
G. Bodnar Jr.
Director
Yorbeau Resources Inc.
gbodnar@yorbeauresources.com
Tel.: 514-384-2202
Toll free in North America: 1-855-384-2202
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.
For further information call: |
OR: |
Luc St-Pierre |
Nathalie Dion |
Phone: 514 904-1333 |
Phone: 514 904-1333 |
Email: luc@mi3.ca |
Email: nathalie@mi3.ca |
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Yorbeau Resources Inc.
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EXPLORATEUR |
CODE : YRB-A.TO |
ISIN : CA9861913023 |
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Yorbeau est une société d’exploration minière d'or basée au Canada. Yorbeau détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont ROUYN, ASTORIA, AUGMITTO & CINDERELLA, LAKE GAMBLE BLOCK, BESCHEFER et ELLISON au Canada. Yorbeau est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 22,4 millions CA$ (17,5 millions US$, 15,3 millions €). La valeur de son action a atteint son plus haut niveau récent le 29 décembre 2000 à 1,80 CA$, et son plus bas niveau récent le 24 avril 2015 à 0,04 CA$. Yorbeau possède 263 440 266 actions en circulation. |