Yorbeau announces resumption of drilling program with IAMGOLD at the Rouyn project
MONTREAL, July 16, 2019 - Yorbeau Resources Inc. (TSX: YRB) ("Yorbeau" or the "Company") is pleased to announce that diamond drilling has resumed at its Rouyn property with partner IAMGOLD Corporation ("IAMGOLD"). The Company signed a definitive agreement in December 2018, whereby IAMGOLD has the option to acquire a 100% interest in Yorbeau's Rouyn property in Quebec, Canada.
As operator, IAMGOLD has already completed a phase 1 program in the Lac Gamble zone consisting of 13,400 metres of drilling in 48 diamond drill holes. Results were previously reported for 31 diamond drill holes (see news releases dated May 23 and June 12, 2019). Results are pending from the remaining 17 drill holes and will be reported once they are received, validated and compiled.
The Rouyn Property is located about 4 km south of Rouyn-Noranda, Quebec. With a long history of mining, the city of Rouyn-Noranda offers many advantages for mining exploration, including political and social stability, good access and infrastructure, skilled mining personnel, and one of the most mining-friendly jurisdictions in the world. The Rouyn Property covers a 12-kilometre stretch of the Cadillac-Larder Lake Break. Drilling has resumed in the Astoria sector with one drill rig and is expected to total around 5,000 metres with the goal of converting well established exploration potential into mineral resources. The Astoria deposit already benefits from significant underground infrastructure including a 515 metre deep shaft and over 5 kilometres of lateral workings.
Gérald Riverin, Company president commented: "We are very pleased with the work progress made by IAMGOLD at the Rouyn property and most happy to see a drill turning again. The drilling program was established by IAMGOLD in close cooperation with the Yorbeau staff, and we are looking forward to continue develop the project with the IAMGOLD team".
Work at Yorbeau is carried out under the supervision of Gérald Riverin, Ph.D., P. Geo. He is a qualified person (as defined by NI 43-101) and has reviewed and approved the content of this release.
About Yorbeau Resources Inc.
The Rouyn Property, wholly-owned by the Company, contains four known gold deposits in the 6‑km‑long Augmitto-Astoria corridor situated on the western portion of the property. Two of the four deposits, Astoria and Augmitto, benefit from substantial underground infrastructure and have been the subject of technical reports that include resource estimates and that were filed in accordance with Regulation 43-101. 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 feature an infrastructure favourable for mining development. The newly acquired base metal properties include the Scott Project, which bears important mineral resources (see the press release dated March 30, 2017) and on which a positive Preliminary Economic Assessment was recently completed.
For additional information on the Company, consult its website at www.yorbeauresources.com.
For further information, please contact:
Gérald Riverin, PhD, P. Geo
President, Yorbeau Resources Inc.
Yorbeau Resources Inc.
G. Bodnar Jr.
Vice-President, Chief Financial Officer
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 the prospects of the Rouyn project, drilling results and 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 statements, other than as required by applicable securities laws.