Yorbeau Resources Successfully Completes Its Drilling Program on the Scott Lake Property in Chibougamau, Quebec
MONTREAL, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Yorbeau Resources Inc. (TSX: YRB), (“Yorbeau” or the “Company”) completed a 4,586-metre drilling program on its Scott Lake property in early November. Since the last press release on October 5, 2022, the Company has drilled one hole (SC-93) and placed two wedges (SC 95 W1, SC-95 W2) from hole SC-95 to intersect the new zinc and copper zone located less than 300 metres west of the Scott Lake deposit and the Gwillim Lake regional Fault. The hole and the two wedges all intersected the zinc and copper mineralized zone over widths ranging from 3 to 8 metres. The mineralization has now been intersected in five holes over 100 metres laterally and remains open over the entire surface of the modelled 175 metres by 175 metres conductive plate. A figure illustrating the position of holes relative to the conductive plate will be available on the Company's website in a few days.
Mineralized zone samples are now being prepared at the Company’s Rouyn-Noranda facility and will be sent to the analytical laboratory as soon as possible. Results are expected in the first quarter of 2023.
Yorbeau also plans to conduct a geophysical survey at the western most SC-93 drill hole to identify the potential presence of new lenses associated with tuff horizons present at a few locations along the drill hole.
Mr. Laurent Hallé, P.Geo., Consulting Geologist and qualified person for the purposes of N1 43-101 with respect to the technical information being reported on has read and approved this press release.
In 2015, Yorbeau expanded its portfolio of properties in Quebec by acquiring strategic base metals in regions with high potential in the Abitibi belt which offer favorable infrastructure to mining development. Acquired base metal properties include the Scott Project comprising several mineralized zones that have volcanogenic massive sulphides (“VMS” mineralization characteristics). The VMS-style mineralization at the Scott Project includes several distinct lenses of stratiform massive sulphides located along or near rhyolite-andesite/basalt contacts. In addition to sulphides, distinct areas of vein-like and disseminated sulphides of VMS (stingers) style, which can either connect to massive sulphides or not, have been intersected over a distance of at least 2 kilometers in an east-west direction. According to a Preliminary Economic Assessment (“PEA”) conducted in late 2017 by Roscoe Postle Associates (“RPA”), the project represents an opportunity to develop a mine located near the towns of Chibougamau and Chapais, a typical northern mining development environment, offering the housing benefits as well as the availability labor.
About Yorbeau Resources
The 100% owned Rouyn property contains four known gold deposits in the six-kilometre-long Augmitto-Astoria corridor located in the western part of the property. The Company signed a definitive agreement in December 2018 that gives IAMGOLD the option to acquire a 100% interest in the Rouyn property, and a major drilling program is underway on the property. Two of the four deposits, Astoria and Augmitto, have substantial underground infrastructure and have been the subject of technical reports that include resource estimates and have been filed in accordance with NI 43-101.
Additional information about the Company is available on its website, http://www.yorbeauresources.com.
| For more information, please contact: | ||
| G. Bodnar Jr. | Laurent Hallé P. Geo | |
| President, Chief Financial Officer | Senior Consultant | |
| Yorbeau Resources Inc. | Yorbeau Resources Inc. | |
| gbodnar@yorbeauresources.com | lhalle@yorbeauresources.com | |
| Tel: 514 384 2202 | Tel: 819 629 9758 | |
| Toll free in North America: 1 855 384 2202 | ||
Forward-looking statements: Except for the statement of historical fact, all statements in this news release, including without limitation, regarding drilling results, 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. Yorbeau disclaims any obligation to update such forward-looking information unless required by applicable securities laws.
