 | | | Published : March 02nd, 2007 | Summarizes its 2006 Drilling Program on the Augmitto and Cinderella Blocks |
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| PRESS
RELEASE |
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| March 2, 2007 |
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| Yorbeau Summarizes its 2006 Drilling Program on the Augmitto and Cinderella
Blocks |
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MONTREAL, QUEBEC--(CCNMatthews - March 1, 2007) - Yorbeau Resources Inc. (TSX:YRB.A) is pleased to provide the following summary on its completed 2006 drilling program which was carried out on the Augmitto and the Cinderella Blocks of the Company's Rouyn Property.
The Rouyn property includes two inactive gold deposits, Augmitto and Astoria. The Augmitto historical resources were estimated in 1988 as consisting of a total diluted reserve of 1,896,803 short tons at 0.165 oz/ton Au in the proven, probable and possible categories using a cut-off of 0.075 oz/ton Au (ACA Howe) prior to National Instrument 43-101(1) . The Astoria NI 43-101 resources consist of an undiluted open pit measured and indicated resource of 770,000 tonnes grading 2.57 grams of gold per tonne and an underground measured and indicated resource of 1,970,000 tonnes grading 4.51 g/t Au, for a total of 349,100 ounces of gold. Undiluted inferred resources amenable to open pit and underground mining totaled 14,000 tonnes grading 2.29 g/t Au and 385,000 tonnes grading 4.83 g/t Au respectively, for another 60,800 ounces of gold.
The Kerr-Addison Mine, some thirty kilometers to the west of our Rouyn Property, produced over its lifetime approximately eleven million ounces of gold. The Yorbeau property has shown many of the same geological features as the Kerr-Addison in terms of structure, rock types and mineralization.
During the 2005 phase I drilling program, 11 holes totaling 3,743 m were completed. The second phase was completed in 2006 and 18 holes totaling 12,515 m were drilled. The best mineralized intersections of the 2006 drilling program are summarized in the following table.
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Hole Type of Section From (m) To (m) Length Grade g/t Au
# mineralization (m)(i)
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401 Green Carbonate 10 400 E 332.85 333.32 0.47 5.27
337.03 339.34 2.31 8.47
incl.339.00 339.34 0.34 55.50
372.77 373.66 0.89 3.29
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Brown
tourmaline 472.18 476.39 4.21 4.24
sulfides incl.472.18 473.04 0.86 18.06
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402 Green Carbonate 10 800 E 289.83 290.82 0.99 4.72
298.08 299.27 1.19 3.38
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Syenite 367.2 367.47 0.27 1.56
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Brown
tourmaline 434.02 434.40 0.38 2.59
sulfides
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403 Green Carbonate 11 200 E 287.87 296.74 8.87 12.93
incl.296.44 296.74 0.30 330.71
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Syenite 301.14 302.14 1.00 7.96
319.90 320.90 1.00 6.14
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Brown
tourmaline 447.94 448.54 0.60 76.86
sulfides
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404 Syenite 11 600 E 303.98 304.96 0.98 1.65
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Brown
tourmaline 373.47 374.97 1.50 6.65
sulfides
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405 Green Carbonate 10 000 E 346.54 347.14 0.60 6.36
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Brown
tourmaline 459.72 460.36 0.64 3.08
sulfides 473.75 474.37 0.62 2.10
596.30 597.24 0.94 3.70
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406 Green Carbonate 9 600 E 327.26 331.05 3.79 1.36
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Syenite 375.55 376.18 0.63 1.58
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Brown
tourmaline 383.85 384.00 0.15 9.53
sulfides 438.75 440.75 2.00 1.75
445.70 448.00 2.30 2.93
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407 Green Carbonate 9 200 E 399.00 399.80 0.80 1.33
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Brown
tourmaline 428.93 429.93 1.00 1.92
sulfides 435.85 436.86 1.01 1.03
439.85 440.60 0.75 1.13
442.05 442.45 0.40 8.61
542.60 544.60 2.00 1.17
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408 Syenite 8 800 E 455.38 456.21 0.83 1.17
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Brown
tourmaline 467.00 467.69 0.69 1.61
sulfides 518.57 519.38 0.81 2.90
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409 Carbonatized 19 000 E 647.66 650.23 2.57 15.84
sediments incl.648.26 648.76 0.50 40.72
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Brown
tourmaline 752.45 752.75 0.30 3.02
sulfides 757.29 758.34 1.05 0.67
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410 Green Carbonate 11 000 E 416.57 418.03 2.36 3.55
472.63 473.63 1.00 1.92
485.48 487.28 1.80 2.15
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411 Green Carbonate 9 400 E 329.00 330.00 1.00 4.22
476.58 477.50 0.92 4.56
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412A Green Carbonate 10 075 E 440.00 452.00 12.00 4.53
Incl.440.00 440.50 0.50 12.96
Incl.444.00 449.00 5.00 7.75
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413 Green Carbonate 11 100 E 513.00 521.40 8.40 26.02
Incl.517.10 517.90 0.80 40.14
Incl.519.20 521.40 2.20 82.34
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415 Green Carbonate 10 900 E 618.30 624.00 5.70 12.19
644.83 648.00 3.17 3.59
667.20 672.90 5.70 3.22
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Sulfides in 694.95 695.75 0.80 2.62
graphitic
argillite
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416B Green Carbonate 10 700 E 668.10 670.50 2.40 2.30
Incl.668.10 669.10 0.50 4.56
Incl.670.00 670.50 0.50 3.53
698.50 699.00 0.50 11.56
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417 Green Carbonate 10 497 E 611.50 615.15 3.65 2.28
657.20 657.80 0.60 8.39
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418 Temiskaming 10 098.9 E 831.50 843.50 2.00 6.95
sediments Incl.841.5 842.00 0.50 8.17
Incl.842.70 843.50 0.80 11.67
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(i) Length along core axisThe 2006 drilling program has been very successful in demonstrating the continuity at depth of the mineralized corridor containing the Augmitto historical resources. These historical resources were estimated in 1988 and calculated to a vertical depth of approximately 185 meters or 600 feet. The drilling program has successfully intercepted the mineralized corridor at vertical depths in excess of 600 meters. Furthermore, the thickness of the mineralized zones appears to increase with depth. The true thickness of the mineralized corridor ranges from 47 m in hole 415 up to 82 meters in hole 418. The best gold grades were encountered in holes 401, 403, 404, 405, 406, 407, 409, 411, 412A, 413, 415, 416B and 418.
In general, the mineralized zones comprising the historical Augmitto resources have been encountered entirely within an alteration zone consisting of carbonatized ultramafic rocks (mineralized corridor) hosted by Temiskaming Group sediments. The Company has encountered for the first time at depth a gold bearing structure directly within the Temiskaming Group sediments (hole 418). This distinct gold bearing zone (described in a previous press release) located in the Temiskaming Group sediments further expands the exploration potential of the Rouyn Property.
Yorbeau Resources Inc. is currently in the planning of its third phase of surface drilling and will be using a 3D GOCAD model of the Augmitto and Astoria deposits in its exploration strategy. This third phase of surface drilling should begin in the spring. The objective of the 2007 surface drilling campaign is two fold: 1) the definition of the mineralized corridor at depth toward the West starting 200 feet west of hole 418 and 2) the exploration of the eastern extension of the Augmitto deposit up to Lac Gamble were hole 409 was drilled.
The qualified person under National Instrument 43-101 is Denis Tremblay, geological engineer. Samples were analyzed at Laboratoire Expert at Rouyn-Noranda, Quebec using the metallics sieve method.
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.
(1) The Company has not undertaken any independent investigation of this reserve estimate and therefore the historical estimate should not be relied upon. However, the Company believes that this historical estimate provides a conceptual indication of the potential of the property and is relevant to ongoing exploration. |
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INDUSTRY: Manufacturing and Production - Mining and Metals
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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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ProfileMarket
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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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