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Montréal, March 3, 2014 - A correction from source is being issued with respect to the press release of Yorbeau Resources Inc. that was disseminated on February 28, 2014 at 1:12 pm ET.
Under "Program Highlights" and "Cinderella East Results" of the original release, the drilling result of hole CI-13-620 was reported as "13.0 g/t Au over 5.4 metres" and should read "5.4 g/t Au over 13.0 metres".
The following is a complete and corrected version of the press release.
Yorbeau Resources Inc. (TSX: YRB.A) (the "Company" or "Yorbeau") is pleased to provide an update on the results of the diamond drilling program carried out in 2013 by Gold Fields Sudbury Exploration Corp. ("Gold Fields") on the Company's Rouyn property.
The 2013 program represented the first phase of a $4M exploration commitment made by Gold Fields pursuant to the option and joint venture agreement entered into between Gold Fields and the Company. The 2014 exploration program which is currently under way is budgeted at $2.2M and will consist of approximately 14,000 metres, mostly targeting either the extension at depth of known gold mineralization or potential new zones in the eastern half of the property.
The 2013 drilling program totalled 7,808 metres in 26 drill holes located in the Cinderella, Augmitto and Gamble Lake blocks (see the attached location map). The objective at Cinderella was to check for possible expansion of the known mineralization at depths shallower than 400 metres. Most of the drilling involved stepping out from existing zones. At Augmitto, the objectives were to confirm near surface mineralization below historical exploration trenches and test the potential effect of using different drilling orientations. Finally, at Gamble Lake, the objective was toconfirm mineralization in a new sector developing at depth in the west boundary of the Gamble Lake zone.
PROGRAM HIGHLIGHTS
Highlights of the 2013 program are shown below:
-
- Hole CI-13-616: 6.6 g/t Au over 9.0 metres (in the Footwall Zone)
- including 27.1 g/t Au over 1.0 metres
- Hole CI-13-620: 5.4 g/t Au over 13.0 metres
- including 42.4 g/t Au over 1.0 metres
- Hole AUG-13-625: 11.4 g/t Au over 5.3 metres
- including 16.6 g/t Au over 3.0 metres
- Hole AUG-13-627: 7.9 g/t Au over 7.0 metres
- Hole GA-13-628: 6.0 g/t Au over 11.3 metres at depth at Lac Gamble Zone
- including 30.4 g/t Au over 1.0 metres
Cinderella Area
A series of 18 holes totalling 5,350 metres was drilled to explore the top 400 metres of the Cinderella Zone, including 7 holes (1,633 m) testing near surface mineralization in the eastern portion of Cinderella. All holes intersected the favourable carbonatized Piché ultramafics, many of which containing visible gold. Significant assay results are shown below:
| Hole |
from |
to |
Au (g/t) |
Core length (m) |
Remarks |
| CI-13-603 |
132.8 |
133.9 |
1.5 |
1.1 |
Piché |
| CI-13-604 |
348.9 |
355.0 |
1.2 |
6.1 |
Piché |
| |
368.4 |
370.7 |
1.8 |
2.3 |
Piché |
| |
472.4 |
479.9 |
0.9 |
7.4 |
Footwall |
| CI-13-605 |
203.3 |
207.5 |
1.4 |
4.2 |
Piché |
| CI-13-606 |
211.0 |
213.3 |
1.4 |
2.3 |
Piché |
| |
330.0 |
332.0 |
1.0 |
2.0 |
Footwall |
| |
336.0 |
337.3 |
1.3 |
1.3 |
Footwall |
| CI-13-607 |
No significant values |
| CI-13-608 |
104.4 |
106.7 |
0.6 |
2.3 |
Piché |
| |
215.0 |
216.0 |
1.3 |
1.0 |
Footwall |
| CI-13-609 |
266.0 |
267.0 |
1.6 |
1.0 |
Piché |
| |
358.2 |
368.2 |
1.6 |
10.0 |
Footwall Zone VG |
| CI-13-610 |
310.4 |
314.0 |
3.9 |
3.6 |
Footwall Zone VG |
| CI-13-611 |
258.1 |
270.4 |
1.0 |
12.3 |
Piché , VG+ |
| CI-13-612 |
Abandoned due to deviation |
| CI-13-613 |
267.1 |
271.1 |
1.8 |
4.0 |
Piché |
| |
308.0 |
311.0 |
1.2 |
3.0 |
Piché , VG |
| |
335.0 |
336.0 |
3.3 |
1.0 |
Piché , VG |
Although true width of the mineralized zones cannot be established with accuracy given the large spacing between holes, it is estimated that it may represent about 70% of core length.
While anomalous values were obtained around the previously known mineralized zones at Cinderella, the drilling did not lead to an expansion of the zones. However, the drilling to test near surface mineralization in the eastern portion of Cinderella returned several high grade assays in the vicinity of historical holes 05-S-390 et 05-S-397 which had returned respectively 24.1 g/t Au over 1.5 m and 1.9 g/t Au over 7.1 m. Significant results of the 2013 drilling are shown below.
Cinderella East Results
| Hole |
from |
to |
Au (g/t) |
Core length (m) |
Remarks |
| CI-13-614 |
48.9 |
50.0 |
6.6 |
1.2 |
Piché, VG |
| |
75.0 |
76.0 |
12.3 |
1.0 |
Piché, VG |
| |
121.8 |
122.8 |
1.1 |
1.0 |
Footwall Zone |
| CI-13-615 |
22.0 |
26.7 |
0.6 |
4.7 |
Hanging wall |
| |
53.0 |
57.0 |
1.1 |
4.0 |
Piché, VG |
| |
150.0 |
151.0 |
1.0 |
1.0 |
Footwall |
| CI-13-616 |
341.0 |
342.0 |
0.8 |
1.0 |
Piché |
| |
423.0 |
432.0 |
6.6 |
9.0 |
Footwal Zone, VG+++ |
| including |
424.0 |
425.0 |
27.1 |
1.0 |
|
| |
428.0 |
429.0 |
15.0 |
1.0 |
|
| CI-13-617 |
97.0 |
99.0 |
0.5 |
2.0 |
Piché |
| |
171.0 |
172.0 |
1.4 |
1.0 |
Footwall Zone VG |
| CI-13-618 |
213.0 |
216.0 |
2.0 |
3.0 |
Footwall Zone |
| CI-13-619 |
190.5 |
193.5 |
0.6 |
3.0 |
Footwall Zone VG |
| |
206.5 |
212.0 |
2.4 |
5.5 |
Footwall Zone VG |
| including |
207.5 |
208.5 |
7.9 |
1.0 |
|
| CI-13-620 |
61.0 |
74.0 |
5.4 |
13.0 |
Piché VG+ |
| including |
65.4 |
66.4 |
42.4 |
1.0 |
|
| |
74.0 |
75.0 |
21.1 |
1.0 |
|
| |
123.9 |
124.9 |
1.4 |
1.0 |
Footwall Zone |
Although true width of the mineralized zones cannot be established with accuracy given the large spacing between holes, it is estimated that it may represent about 70% of core length.
Lac Gamble
At Gamble Lake the objective was toconfirm mineralization in a new sector developing at depth near the west boundary of the Gamble Lake zone. This new interesting sector, discovered by Yorbeau with hole 12-GA-593 drilled in late 2012, had intersected 3.7 g/t Au over a core length of 15 metres (press release of December 6, 2012). In 2013, 3 holes totaling 1,168 metres were drilled to follow up on this while hole GA-13-621 (387 m) was drilled in a wide gap between the Cinderella and Gamble Lake zones.Hole GA-13-622 had to be abandoned for excessive deviation. Significant assay results are shown below.
| Hole |
from |
to |
Au (g/t) |
Core length (m) |
Remarks |
| GA-13-621 |
287.4 |
290.4 |
1.5 |
3.0 |
Piché, west of
Gamble Lake zone |
| |
353.0 |
354.0 |
0.5 |
1.0 |
Footwall Zone, VG |
| GA-13-622 |
Abandoned due to deviation |
| GA-13-623 |
491.0 |
500.0 |
0.5 |
9.0 |
Piché, VG |
| GA-13-628 |
495.7 |
507.0 |
6.0 |
11.3 |
Piché, VG++++ |
| including |
497.8 |
498.8 |
30.4 |
1.0 |
|
| |
503.0 |
504.0 |
22.6 |
1.0 |
|
Although true width of the mineralized zones cannot be established with accuracy given the large spacing between holes, it is estimated that it may represent about 70% of core length.
Results obtained in hole GA-13-628 are considered most encouraging as they support the hypothesis that the Gamble Lake zone remains open to the west at depth. Further drilling by Gold Fields is planned in this sector (press release of January 30, 2014).
Augmitto
During the summer 2013, historical trench #4 was cleaned up and extended to the east in order to observe the Augmitto mineralized zone in the vicinity of drill hole 07-S-442 which had returned a grade of 11.3 g/t Au over a core length of 8.5 m. After detailed mapping of the gold bearing veins and structures at surface, a drill program was carried out with the objectives of confirming near surface mineralization below historical exploration trenches and also to test the potential effect of using different drilling orientations. Significant assay results are shown below.
| Hole |
from |
to |
Au (g/t) |
Core length (m) |
Remarks |
| AUG-13-624 |
49.0 |
57.0 |
2.7 |
8.0 |
Piché, VG++ |
| |
69.3 |
78.0 |
1.7 |
8.7 |
Piché |
| AUG-13-625 |
55.7 |
67.1 |
11.4 |
5.3 |
Piché,VG++ |
| including |
57.0 |
58.0 |
9.2 |
1.0 |
|
| |
58.0 |
59.0 |
13.3 |
1.0 |
|
| |
59.0 |
60.0 |
27.2 |
1.0 |
|
| |
85.2 |
93.2 |
1.1 |
7.0 |
Piché |
| AUG-13-626 |
92.0 |
94.0 |
1.4 |
2.0 |
Piché |
| |
105.0 |
126.0 |
2.1 |
21.0 |
Piché,VG |
| including |
112.0 |
116.0 |
4.1 |
4.0 |
|
| |
120.0 |
122.0 |
6.9 |
2.0 |
|
| AUG-13-627 |
9.8 |
21.3 |
2.9 |
11.5 |
Piché |
| |
32.0 |
39.0 |
7.9 |
7.0 |
Piché, VG++ |
| including |
35.0 |
36.0 |
16.1 |
1.0 |
|
| |
37.0 |
38.0 |
18.4 |
1.0 |
|
During mapping of the trench and detailed core logging, it appeared that two main sets of quartz veins stand out by their abundance of visible gold and the majority of the high grade assays in the above drilling are associated with these two sets. Because of the various drilling orientations designed to better intersect specific vein orientations, the true widths of the above mineralized envelopes may range widely between 25 and 45 % of the measured core lengths. In general, the 2013 drilling below the Augmitto trenches confirmed the previous assay results. With respect to the potential effect of using different drilling orientations, the results are still being evaluated. However, at this time it does not seem warranted to modify the drilling strategy while testing the mineralized envelopes within the Piché formation.
"We are pleased with the drilling results obtained in 2013 and in particular with Gold Fields' strategy focused on diamond drilling. Yorbeau's Rouyn property encloses an impressive number of gold intersections over a very large area and, consequently, a very significant amount of drilling remains to be done in order to unlock the full value of the Rouyn property. Yorbeau's association with Gold Fields is a major step in realizing the required drilling. We remain confident that we are working on a significant gold deposit that ultimately may have to be proved up by underground exploration"says President and CEO David Crevier.
The qualified person under National Instrument 43-101 is Laurent Hallé, P.Geo., who has reviewed and approved the content of this release.
Samples are analyzed at ALS Chemex Laboratories in Val d'Or, Quebec and the sampling and assaying program is subjected to Gold Fields' extensive QA/QC program that includes inserting blanks and gold standards in batch samples being sent to the assay laboratory. Samples that contain visible gold are subjected to a strict sampling and assay protocol designed specifically to deal with coarse particle gold.
Gold Fields Sudbury is a wholly-owned subsidiary ofGold 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 Gold's Granny Smith, Lawlers and Darlot Gold Mines in Western Australia. Gold Fields subsequently has attributable annual production of approximately 2.2 million ounces of gold, managed gold Mineral Reserves of approximately 59 million ounces and managed gold Mineral Resources of approximately 137 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).
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:
David Crevier
President and CEO
Yorbeau Resources Inc.
dcrevier@yorbeauresources.com
Tel: 514-284-3663
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.
