Yorbeau Announces the Completion of Hole LEM-66W3 and Explains Target #1 at the Lemoine Project in Chibougamau, Quebec
MONTREAL, Feb. 03, 2021 - Yorbeau Resources Inc. (TSX: YRB) ("Yorbeau" or the "Company") announces completion of hole LEM-66W3 that was designed to test a strong borehole geophysical anomaly (target #1) detected in hole LEM-66 at its Lemoine project in the Chibougamau area of Quebec (see Yorbeau’s news releases dated January 20, 2021).
The Lemoine Mine is located 25 kilometres south of Chibougamau (Figure. 1) and produced 758,000 tons of high-grade massive sulphide ore from 1975 to 1983. With its 4.2% Cu, 9.6% Zn, 4.2 g/t Au and 83 g/t Ag, Lemoine is within the top 1% of all VMS worldwide (in terms of grade). This drilling program was a follow-up of the deepest hole drilled from underground in this sector, hole 12L-27 (drilled in 1980) which returned a high-grade massive sulphide intersection of 43 cm grading 4.3% Cu, 6.3% Zn and 1.1 g/t Au.
Hole LEM-66W3 intersected 0.6 metres of semi-massive pyrite and pyrrhotite with some traces of sphalerite and chalcopyrite along the Lemoine horizon. This quantity and texture of sulfides, especially pyrrhotite, explain the strong conductor previously modelled (target #1). The company has decided to suspend drilling activities for now in order to evaluate other alternative options.
Other promising targets remain untested on the property especially target #2 area (Figure 2) where the geophysical modelled plate is less conductive than target #1 (90 siemens Vs. 400 siemens). In the light of current results, data suggest that target #2 could be explained by a different type of mineralization. Moreover, hole L91-01 (drilled in 1991) located at the edge of this modelled plate seems to support this hypothesis by returning 3.3 % Zn over 0.3 metres.
Another area with a strong discovery potential is located in the west part of the property at relatively shallow depth. This area shows the largest hydrothermal alteration system observed at Lemoine that covers 4 kilometres by 600 metres (Figure 3). This system that was delineated using lithogeochimical data from outcrops and drilling, clearly cross-cut the Lemoine stratigraphy. Further works in this area should include borehole geophysical survey of historical holes, especially in LEM-64 drilled by Cogitore Resources in 2008.
Work is carried out by the Yorbeau personnel, under the supervision of Sylvain Lépine, M.Sc, P.Geo. He is a qualified person (as defined by National Instrument 43-101) and has prepared 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. The Company signed a definitive agreement in December 2018, whereby IAMGOLD has the option to acquire a 100% interest in the Rouyn property, and a major drilling program is underway. 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 that feature infrastructure favourable for mining development. The newly acquired base metal properties include the Scott Project in Chibougamau, 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:
Sylvain Lépine, M.Sc, P. Geo
General Manager Exploration
Yorbeau Resources Inc.
G. Bodnar Jr., President
Chief Financial Officer, Yorbeau Resources Inc.
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 the prospects of the Lemoine project, 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 statements, other than as required by applicable securities laws.