Yorbeau Provides an Update of the Drilling Program at the Lemoine Project in Chibougamau, Quebec
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MONTREAL, Dec. 23, 2020 - Yorbeau Resources Inc. (TSX: YRB) ("Yorbeau" or the "Company") is pleased to provide an update of the current diamond drilling program at its Lemoine project in the Chibougamau area of Quebec (Figure 1).
The Lemoine Mine is located 25 km south of Chibougamau and produced 0.76 Mt 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).
The current drilling program is 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. Two targets, mainly based on downhole geophysics have been selected (see Yorbeau's news releases dated October 20, 2020). Two holes for approximately 2,500 metres has been planned to test these targets with the completion of borehole geophysics survey in each hole.
To date, one pilot hole (LEM-66) and one wedge-cut (LEM-66W2) for 2,085 metres were drilled to test the target #1. Hole LEM-66 intercepted a gabbro dyke where the stratigraphic Lemoine horizon was interpreted and the downhole geophysical survey indicates that the conductor was missed by less than 20 metres. The follow-up drill hole (LEM-66W2) hit the modelled geophysical conductor located along the Lemoine horizon. In the conductor area, hole LEM-66W2 intercepted a bedded cherty felsic tuff of 0.7 metres containing 3% of pyrrotite and 1% of chalcopyrite and sphalerite.
At first sight, the quantity and the texture of the mineralization observed in hole LEM-66W2 do not explain the geophysical conductor. Subsequently, a downhole geophysical survey will be done to refine the conductor center location and designing a follow-up drill hole. Work at Lemoine will resume during the second week of January 2021.
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 Regulation 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:
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.