MONTREAL, QUEBEC -- (Marketwired) -- 09/19/17 -- Yorbeau Resources Inc. (TSX: YRB) (the "Company" or "Yorbeau") is pleased to provide an update on the Company's 100% owned Rouyn property ("Property") in Quebec, Canada, where its partner Kinross Gold Corporation ("Kinross") has now completed 24,149 metres of drilling.
As a part of an option agreement (press release dated October 25, 2016) Kinross committed to spend C$3 million in exploration on the Property in the first 18 months, including no less than 12,500 metres of diamond drilling. Yorbeau is very pleased with the amount of drilling done by Kinross as part of the firm commitment. The Company considers that the large amount of drilling done within the C$3 million commitment reflects cost efficiency related to favorable project location and to cost control made possible by a great collaboration between Kinross and Yorbeau staff.
The Kinross drill program focussed on the Astoria and Lac Gamble deposits with the aim of identifying high-grade shoots at depth within the broad mineralized gold corridor represented by the Piche Group. A recent intercept at Astoria in hole AS-17-678 suggests that the Footwall and Lower Piche zones may be merging at least locally, providing significantly wider mineralized zones. This newly interpreted zone called "Main Zone" returned high grade gold and supports potential to add significant resources at depth. Results are summarized in the table below. Drill hole locations are shown on the attached longitudinals (Figures 1 and 2).
To view the figures associated with this release, please click on the following link: http://media3.marketwire.com/docs/1102408E.pdf
Note: gold grades reported below are uncut and depth intervals are core length.
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Drill hole from to Zone Au (g/t) Core length (m)
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AS-17-669 594.8 598.8 Upper Piche 2.7 4.0
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AS-17-669 696.8 701.5 Main zone 11.6 4.7
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AS-17-672 690.0 691.5 Upper Piche 11.4 1.5
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AS-17-676W 495.0 498.0 Upper Piche 6.0 3.0
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AS-17-676W 507.3 520.3 Main zone 5.3 13.0
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including 507.3 510.9 Main zone 8.0 3.6
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516.8 520.3 Main zone 7.4 3.5
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AS-17-678 677.0 707.1 Main zone 5.4 30.1
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including 677.0 682.0 Lower Piche 5.3 5.0
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687.2 691.1 Lower Piche 5.0 3.9
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693.1 697.6 Lower Piche 3.0 4.5
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703.0 707.1 Footwall 23.7 4.1
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AS-17-678W 674.2 678.3 Main zone 19.3 4.1
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including 676.7 677.4 Main zone 107.0 0.7
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AS-17-673 561.5 564.9 Lower Piche 1.9 3.4
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GA-17-670W 853.0 857.0 Lower Piche 2.9 4.0
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GA-17-671 843.8 847.2 Lower Piche 4.7 3.4
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GA-17-671W 796.4 799.4 Lower Piche 3.3 3.0
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Core lengths are reported above. Horizontal widths range from about 75 to 85% of the core lengths.
Gerald Riverin, Company president commented: "We are quite enthusiastic about the recent drilling results as they show local improvement in grade and continuity at depth. The possibly wider Main Zone at Astoria is the kind of grade and geometry we are looking for, and we are looking forward to finalize the new interpretation and see how it could impact the project".
Work at Yorbeau is carried out under the supervision of Gerald 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.
The design of the drilling program and Quality Assurance/Quality Control is under the control of Kinross' and Yorbeau's geological staff, including qualified persons employing a strict QA/QC program consistent with NI 43-101 and industry best practices. Drill core is logged and split with half-core samples packaged and delivered to Laboratoire Techni-Lab S.G.B of Ste-Germaine-Boule, Quebec. Thorough QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all drill holes. All samples are analyzed by Fire Assay with an Atomic Absorption (AA) finish using a 50 gram aliquot of pulverized material. Assays exceeding 3 g/t Au are re-assayed by Fire Assay with a Gravimetric Finish. Samples with visible gold are processed with a special protocol involving fine grinding, followed by a four fraction metallic screen on the entire sample and analysis using a minimum of two 50 gram aliquot on each fraction.
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 has signed 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 (see press release dated March 30, 2017).
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.
Contacts:
Yorbeau Resources Inc.
Gerald Riverin, Ph D., P. Geo
President
819-279-1336
griverin@yorbeauresources.com
G. Bodnar Jr.
Vice President
514-384-2202
gbodnar@yorbeauresources.com
Toll free in North America: 1-855-384-2202
