MONTREAL, Oct. 22, 2020 /CNW Telbec/ - Yorbeau Resources
Inc. (TSX: YRB) ("Yorbeau" or the "Company") is
pleased to announce that diamond drilling has begun 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 term 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 has returned a high-grade massive sulphide
intersection of 43 cm grading 4.3% Cu, 6.3% Zn and 1.1
g/t Au (see Figure 2 and Yorbeau's news releases dated
September 17, 2020). Geophysical
modeling of a survey done in the hole LEM-63W (drilled in 2012)
shows a strongly conductive plate of 250 Siemens (target #1)
located 70 metres below 12L-27. In addition, a second conductor of
70 Siemens (target #2) was detected along the Lemoine horizon,
which has been shifted by a mafic dyke (Figure 3). These conductors
are open at depth.
Two holes for approximately 2500 metres are planned to test
these targets and borehole geophysics will be completed in both
holes.
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.
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.
SOURCE Yorbeau Resources Inc.