Yorbeau provides update on Gold Fields’ exploration program at its Rouyn project
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Montréal, October 29, 2013 - Yorbeau Resources Inc.(TSX: YRB.A) (the “Company” or “Yorbeau”) is pleased to provide an update on the exploration program currently being undertaken by Gold Fields Sudbury Exploration Corp. on the Company’s Rouyn property. The program consists of a two phase diamond drill program, a detailed geophysical magnetic survey and a trenching program.
On July 15, a drill rig was mobilized to begin Phase 1 of the drilling program. The program will drill approximately 11,000m and target the main mineralized trend. The primary goal of the program is to define the orientation of Au mineralization to better understand the geometry of the deposits. Targets within the corridor are located in the Augmitto, Cinderella, Lac Gamble and Astoria zones. Drilling at the historic Astoria deposit will be the first in approximately 20 years.
To date the program has completed 20 drill holes for a total of 5,777 meters. Drilling has encountered strongly altered zones and frequently visible gold. Assay results will be published once Gold Fields Sudbury has completed QAQC on the analyses. The drill rig is now located on the Lac Gamble Block where it will test mineralization intercepted in previous drill campaigns.
A 200 line kilometer ground magnetic survey was proposed for the months of July and August. To date a total of 136 line kilometres with 50 meter spacing has been completed. Coverage over the main mineralized corridor has been completed and plans to complete the eastern portion remain a priority. The survey is currently being used to interpret structures to control and offset gold mineralization in the Piché Group.
Additional work consisting of stripping and expanding trench 4 on the Augmitto Block was recently completed. A strongly altered zone thought to be related to high grade mineralization observed in historic drilling (07-S-442=11.3g/t Au over 8.5m) was exposed during the trenching exercise. A mapping exercise of the exposed gold bearing veins will be incorporated into future drill hole planning in the immediate vicinity.
Gold Fields Sudbury is a wholly-owned subsidiary of Gold Fields Limited, an unhedged, globally diversified producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa. In February 2013 Gold Fields unbundled its KDC and Beatrix mines in South Africa into an independent and separately listed company, Sibanye Gold. In October 2013 Gold Fields acquired Barrick's Granny Smith, Lawlers and Darlot Gold Mines in Western Australia.Gold Fields subsequently has attributable gold-equivalent annual production of approximately 2.2 million ounces, Mineral Reserves of approximately 60 million ounces and Mineral Resources of approximately 158 million ounces. Gold Fields has a primary listing on the JSE Limited, with secondary listings on the New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the Swiss Exchange (SWX).
For more information on the option and joint venture agreement entered into between Yorbeau and Gold Fields Sudbury, see press releases dated May 22, 2013 and June 26, 2013.
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 focus of NI 43-101 technical reports.
A recently completed comprehensive report on the Company may be found on the Company’s new website at www.yorbeauresources.com. The raison d’être of Yorbeau is to identify a world class gold deposit in a major mining camp.
For further information, please contact:
President and CEO
Yorbeau Resources Inc.
Yorbeau Resources Inc.
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.