Yorbeau initiates diamond drilling programs in two base and precious metal projects
Montréal, February 9, 2017 - Yorbeau Resources Inc. (TSX: YRB.A) (the "Company" or "Yorbeau") is pleased to announce that two drill rigs are currently in operation respectively at its Caribou and Beschefer projects in northwestern Quebec. The two projects are respectively in the Casa Berardi and Detour Lake belt, where an important increase in exploration activity has taken place in the recent months (Figure 1).
The Caribou project is located in Northwestern Quebec approximately 95km NE of the town of La Sarre and is easily accessible via public roads and a forestry road that provides access to the former Estrades mine. The current drilling is taking place along the western extension of the Estrades mine where exploration work carried by Cogitore led to the discovery of a new massive sulphide deposit in February 2009. Six holes have intersected a thin but high grade massive sulphide lens (sheet) and the weighted average of the six holes drilled to date is 3.3% Cu, 6.5% Zn, 1.7 g/t Au and 66.1 g/t Ag over a core length of 1.5 metres. The planned drilling involves 2,500 metres focused on geophysical anomalies (conductors) in the vicinity of the known deposit, with the aim of finding increased thicknesses.
The Beschefer property is located in northwestern Quebec, approximately 140 NE of the town of La Sarre and 190 kilometres west of Matagami. The property s easily accessible via public and forestry roads that provide access to the former Selbaie Mine located approximately 10 kilometres to the northwest.
Significantly, the property is located immediately to the east of the B-26 deposit on which SOQUEM published mineral resources in 2016 with a Technical Report in compliance with NI 43-101 regulations. The B-26 deposit consists of polymetallic mineralization containing copper, zinc, gold and silver, with mineral resources of 6.78 Mt at 1.1% Cu and 0.5% Zn in the indicated category, and 3.99 Mt at 1.6% Cu and 0.8% Zn in the inferred category. The felsic rocks that host the B-26 mineralization have been identified and traced across Yorbeau's Beschefer property, and the planned drilling program consists of 3,350 metres in 8 holes testing geophysical anomalies (conductors) located generally along the eastern extension of the B-26 deposit and felsic host rocks package.
Work is carried out by the personnel of Yorbeau, under the supervision of Gérald Riverin, PhD, 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 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 subject of NI 43-101 technical reports that include resource estimates. The Company recently announced signing an Option Agreement with an affiliate of Kinross Gold Corporation to pursue exploration on the Rouyn Property (see press release dated October 25, 2016). 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 also feature infrastructure favourable for mining development. The newly acquired base metal properties include Scott Lake which hosts important mineral resources. The Company also owns the Beschefer project immediately adjacent to SOQUEM's B-26 deposit and where, regionally, exploration interest has been increasing.
More information on the Company may be found on the Company's website at www.yorbeauresources.com.
For further information, please contact:
Gérald Riverin, Ph D., P. Geo
Yorbeau Resources Inc.
Tel : 819-279-1336
G. Bodnar Jr.
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.