Yorbeau optionee drills 5.4 m of 13 g/t Au at Rouyn
Yorbeau Resources Inc (C:YRB)
Shares Issued 179,940,762
Last Close YRB.A 2/27/2014 $0.175
Friday February 28 2014 – News Release
Mr. David Crevier reports
YORBEAU PROVIDES UPDATE ON GOLD FIELDS’ 2013 DRILLING PROGRAM
Yorbeau Resources Inc. is providing an update on the results of the diamond drilling program carried out in 2013 by Gold Fields Sudbury Exploration Corp. on the company’s Rouyn property.
The 2013 program represented the first phase of a $4M exploration commitment made by Gold Fields pursuant to the option and joint venture agreement entered into between Gold Fields and the Company. The 2014 exploration program which is currently under way is budgeted at $2.2M and will consist of approximately 14,000 metres, mostly targeting either the extension at depth of known gold mineralization or potential new zones in the eastern half of the property.The 2013 drilling program totalled 7,808 metres in 26 drill holes located in the Cinderella, Augmitto and Gamble Lake blocks (click here to see the location map). The objective at Cinderella was to check for possible expansion of the known mineralization at depths shallower than 400 metres. Most of the drilling involved stepping out from existing zones. At Augmitto, the objectives were to confirm near surface mineralization below historical exploration trenches and test the potential effect of using different drilling orientations. Finally, at Gamble Lake, the objective was to confirm mineralization in a new sector developing at depth in the west boundary of the Gamble Lake zone.
PROGRAM HIGHLIGHTS
Highlights of the 2013 program are shown below:
– Hole CI-13-616: 6.6 g/t Au over 9.0 metres (in the Footwall Zone) – including 27.1 g/t Au over 1.0 metres – Hole CI-13-620: 13.0 g/t Au over 5.4 metres – including 42.4 g/t Au over 1.0 metres – Hole AUG-13-625: 11.4 g/t Au over 5.3 metres – including 16.6 g/t Au over 3.0 metres – Hole AUG-13-627: 7.9 g/t Au over 7.0 metres – Hole GA-13-628: 6.0 g/t Au over 11.3 metres at depth at Lac Gamble Zone – including 30.4 g/t Au over 1.0 metres
Cinderella AreaA series of 18 holes totalling 5,350 metres was drilled to explore the top 400 metres of the Cinderella Zone, including 7 holes (1,633 m) testing near surface mineralization in the eastern portion of Cinderella. All holes intersected the favourable carbonatized Piche ultramafics, many of which containing visible gold. Significant assay results are shown below:
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Hole Core length
from to Au (g/t) (m) Remarks
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CI-13-603 132.8 133.9 1.5 1.1 Piche
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CI-13-604 348.9 355.0 1.2 6.1 Piche
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368.4 370.7 1.8 2.3 Piche
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472.4 479.9 0.9 7.4 Footwall
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CI-13-605 203.3 207.5 1.4 4.2 Piche
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CI-13-606 211.0 213.3 1.4 2.3 Piche
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330.0 332.0 1.0 2.0 Footwall
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336.0 337.3 1.3 1.3 Footwall
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CI-13-607 No significant values
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CI-13-608 104.4 106.7 0.6 2.3 Piche
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215.0 216.0 1.3 1.0 Footwall
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CI-13-609 266.0 267.0 1.6 1.0 Piche
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358.2 368.2 1.6 10.0 Footwall Zone VG
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CI-13-610 310.4 314.0 3.9 3.6 Footwall Zone VG
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CI-13-611 258.1 270.4 1.0 12.3 Piche, VG+
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CI-13-612 Abandoned due to deviation
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CI-13-613 267.1 271.1 1.8 4.0 Piche
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308.0 311.0 1.2 3.0 Piche, VG
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335.0 336.0 3.3 1.0 Piche, VG
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Although true width of the mineralized zones cannot be established with
accuracy given the large spacing between holes, it is estimated that it may
represent about 70% of core length.
While anomalous values were obtained around the previously known mineralized zones at Cinderella, the drilling did not lead to an expansion of the zones. However, the drilling to test near surface mineralization in the eastern portion of Cinderella returned several high grade assays in the vicinity of historical holes 05-S-390 et 05-S-397 which had returned respectively 24.1 g/t Au over 1.5 m and 1.9 g/t Au over 7.1 m. Significant results of the 2013 drilling are shown below.Cinderella East Results
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Hole Core length
from to Au (g/t) (m) Remarks
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CI-13-614 48.9 50.0 6.6 1.2 Piche, VG
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75.0 76.0 12.3 1.0 Piche, VG
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121.8 122.8 1.1 1.0 Footwall Zone
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CI-13-615 22.0 26.7 0.6 4.7 Hanging wall
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53.0 57.0 1.1 4.0 Piche, VG
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150.0 151.0 1.0 1.0 Footwall
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CI-13-616 341.0 342.0 0.8 1.0 Piche
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423.0 432.0 6.6 9.0 Footwal Zone, VG+++
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including
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424.0 425.0 27.1 1.0
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428.0 429.0 15.0 1.0
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CI-13-617 97.0 99.0 0.5 2.0 Piche
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171.0 172.0 1.4 1.0 Footwall Zone VG
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CI-13-618 213.0 216.0 2.0 3.0 Footwall Zone
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CI-13-619 190.5 193.5 0.6 3.0 Footwall Zone VG
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206.5 212.0 2.4 5.5 Footwall Zone VG
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including
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207.5 208.5 7.9 1.0
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CI-13-620 61.0 74.0 13.0 5.4 Piche VG+
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including
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65.4 66.4 42.4 1.0
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74.0 75.0 21.1 1.0
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123.9 124.9 1.4 1.0 Footwall Zone
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Although true width of the mineralized zones cannot be established with
accuracy given the large spacing between holes, it is estimated that it may
represent about 70% of core length.
Lac Gamble
At Gamble Lake the objective was to confirm mineralization in a new sector developing at depth near the west boundary of the Gamble Lake zone. This new interesting sector, discovered by Yorbeau with hole 12-GA-593 drilled in late 2012, had intersected 3.7 g/t Au over a core length of 15 metres (press release of December 6, 2012). In 2013, 3 holes totaling 1,168 metres were drilled to follow up on this while hole GA-13-621 (387 m) was drilled in a wide gap between the Cinderella and Gamble Lake zones. Hole GA-13-622 had to be abandoned for excessive deviation. Significant assay results are shown below.
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Hole Core length
from to Au (g/t) (m) Remarks
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GA-13-621 Piche, west of
287.4 290.4 1.5 3.0 Gamble Lake zone
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353.0 354.0 0.5 1.0 Footwall Zone, VG
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GA-13-622 Abandoned due to deviation
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GA-13-623 491.0 500.0 0.5 9.0 Piche, VG
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GA-13-628 495.7 507.0 6.0 11.3 Piche, VG++++
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including
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497.8 498.8 30.4 1.0
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503.0 504.0 22.6 1.0
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Although true width of the mineralized zones cannot be established with
accuracy given the large spacing between holes, it is estimated that it may
represent about 70% of core length.
Results obtained in hole GA-13-628 are considered most encouraging as they support the hypothesis that the Gamble Lake zone remains open to the west at depth. Further drilling by Gold Fields is planned in this sector (press release of January 30, 2014).Augmitto During the summer 2013, historical trench #4 was cleaned up and extended to the east in order to observe the Augmitto mineralized zone in the vicinity of drill hole 07-S-442 which had returned a grade of 11.3 g/t Au over a core length of 8.5 m. After detailed mapping of the gold bearing veins and structures at surface, a drill program was carried out with the objectives of confirming near surface mineralization below historical exploration trenches and also to test the potential effect of using different drilling orientations. Significant assay results are shown below.
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Hole from to Au (g/t)Core length (m) Remarks
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AUG-13-624 49.0 57.0 2.7 8.0 Piche, VG++
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69.3 78.0 1.7 8.7 Piche
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AUG-13-625 55.7 67.1 11.4 5.3 Piche, VG++
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including
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57.0 58.0 9.2 1.0
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58.0 59.0 13.3 1.0
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59.0 60.0 27.2 1.0
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85.2 93.2 1.1 7.0 Piche
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AUG-13-626 92.0 94.0 1.4 2.0 Piche
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105.0126.0 2.1 21.0 Piche,VG
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including
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112.0116.0 4.1 4.0
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120.0122.0 6.9 2.0
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AUG-13-627 9.8 21.3 2.9 11.5 Piche
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32.0 39.0 7.9 7.0 Piche, VG++
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including
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35.0 36.0 16.1 1.0
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37.0 38.0 18.4 1.0
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During mapping of the trench and detailed core logging, it appeared that two main sets of quartz veins stand out by their abundance of visible gold and the majority of the high grade assays in the above drilling are associated with these two sets. Because of the various drilling orientations designed to better intersect specific vein orientations, the true widths of the above mineralized envelopes may range widely between 25 and 45 % of the measured core lengths. In general, the 2013 drilling below the Augmitto trenches confirmed the previous assay results. With respect to the potential effect of using different drilling orientations, the results are still being evaluated. However, at this time it does not seem warranted to modify the drilling strategy while testing the mineralized envelopes within the Piche formation.
“We are pleased with the drilling results obtained in 2013 and in particular with Gold Fields’ strategy focused on diamond drilling. Yorbeau’s Rouyn property encloses an impressive number of gold intersections over a very large area and, consequently, a very significant amount of drilling remains to be done in order to unlock the full value of the Rouyn property. Yorbeau’s association with Gold Fields is a major step in realizing the required drilling. We remain confident that we are working on a significant gold deposit that ultimately may have to be proved up by underground exploration” says President and CEO David Crevier.
The qualified person under National Instrument 43-101 is Laurent Halle, P.Geo., who has reviewed and approved the content of this release. Samples are analyzed at ALS Chemex Laboratories in Val d’Or, Quebec and the sampling and assaying program is subjected to Gold Fields’ extensive QA/QC program that includes inserting blanks and gold standards in batch samples being sent to the assay laboratory. Samples that contain visible gold are subjected to a strict sampling and assay protocol designed specifically to deal with coarse particle gold. Gold Fields Sudbury is a wholly-owned subsidiary of Gold Fields Limited, an unhedged, globally diversified producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa. In February 2013 Gold Fields unbundled its KDC and Beatrix mines in South Africa into an independent and separately listed company, Sibanye Gold. In October 2013 Gold Fields acquired Barrick Gold’s Granny Smith, Lawlers and Darlot Gold Mines in Western Australia. Gold Fields subsequently has attributable annual production of approximately 2.2 million ounces of gold, managed gold Mineral Reserves of approximately 59 million ounces and managed gold Mineral Resources of approximately 137 million ounces. Gold Fields has a primary listing on the JSE Limited, with secondary listings on the New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the Swiss Exchange (SWX).
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