Yorbeau intersects 4.1 g/t Au over 5.2 metres at Rouyn property – confirming astoria zone open at depth
Montréal, July 16, 2014- Yorbeau Resources Inc.(TSX: YRB.A) (the “Company” or “Yorbeau”) is pleased to provide an update on the balance of the current 2014 exploration program at the Rouyn project. Hole AS-14-645 which intersected 9.1 g/t Au over 9.0 m was previously released (please see release dated July 8, 2014).
These results are from a program undertaken as part of the $4 million firm commitment from the former optionee, prior to its corporate decision not to pursue the option agreement. The Company has been advised that the balance of the $4 million commitment that has not been spent will be paid in cash. The Company presently estimates this amount to be between $1 million and $2 million.
The program, which started on January 14th on the Rouyn Property consisted of 17 drill holes for a total of 7,312 metres. The goal of the program was to define extensions laterally and down plunge as well as confirming the plunge of higher grade ore zones.
Results to date include:
|Drill hole||From||To||Core length (m)||
|AUG-14-630||Stopped due to deviation|
|AUG-14-631||no significant value|
|CI-14-632||Stopped due to deviation|
|CI-14-634||Stopped due to deviation|
|AS-14-636||594.0||599.2||5.2||4.1||VG, Upper Piché|
|652.0||657.5||5.5||3.8||VG, Lower Piché|
|GA-14-642||Stopped due to deviation|
|AS-14-644||Stopped due to deviation|
True thickness is estimated to be 70% of core length except for drill holes GA-14-640, GA-14-641 and GA-14-643 which had to be drilled towards the north where true width is estimated to be approximately 15% to 25 % of core length.
A series of diagrams showing the pierce points on long sections of the various zones that were drilled is attached hereto.
David Crevier, President and CEO commented “We are pleased with hole AS-14-636 which is one of the deepest holes at Astoria and shows that very encouraging mineralization persists at depth. In conjunction with recent hole AS-14-645 which showed that the Astoria mineralization opens up to the east, these results confirm the enormous exploration potential of the Astoria zone. As our exploration team continues to consolidate the information from this work, we look forward to establishing the future path of value creation for Yorbeau shareholders.”
In addition, once the compilation and transfer of information from the former optionee is completed and compiled, the Company also expects to report on a review of historical data on the Astoria block that has resulted in the assaying of formerly unsampled core as well as the re-assaying of historic holes.
The qualified person under National Instrument 43-101 is Laurent Hallé, P.Geo., who has reviewed and approved the content of this release.
Samples were analyzed at ALS Chemex Laboratories in Sudbury, Ontario, by fire assay with atomic absorption and gravimetric finish. The sampling and assaying program was subjected to Yorbeau’s QA/QC program that includes inserting blanks and gold standards in batch samples being sent to the assay laboratory.
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 that include resource estimates.
More information on the Company may be found on the Company’s 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:
Vice President, Corporate Development
Yorbeau Resources Inc.
G. Bodnar Jr.
Yorbeau Resources Inc.
Toll free in North America: 1-855-384-2202
Renmark Financial Communications Inc.
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.