Yorbeau Resources Inc. Begins a Deep Drilling Program on the Scott Lake Property, Chibougamau, Quebec
August 23 2022 - 8:00AM
Yorbeau Resources Inc. (TSX: YRB), ("
Yorbeau" or
the "
Company") is pleased to announce the
commencement of a drilling program of more than 4,200 meters on its
Scott Lake property, 100% owned by the Company in Chibougamau,
Quebec.
A drill contract has been signed with Miikan
Drilling Inc. Miikan is a joint venture between Chibougamau
Drilling Ltd., the Oujé-Bougoumou First Nations community, and the
Mistissini First Nations community, both located in the
Eeyou-Istchee territories.
This program aims to increase the known reserves
of 17.85 million tons of copper, zinc, gold and silver
mineralization (RPA 2017, NI 43-101) under the "GAP" lens to a
depth of more than 1,100 meters and to verify an electromagnetic
conductor west of the Gwillim fault where very little work has been
done to date (Figure 1).
The lenses of the Scott Lake deposit are aligned
more or less in an east-west direction and are truncated by the
Gwillim fault. The conductor west of the fault could, if it
contains metals, open a new exploration area on the west side of
the property.
Drilling east of the Gwillim Fault will involve
testing the GAP lens to a depth of more than 1,000 meters
vertically, approximately 200 and 300 meters below the deepest
known mineralized intersection of the GAP lens.
The drill program that Yorbeau is undertaking on
its Scott Lake property in the Chibougamau region is designed to
increase the value of the project and evaluate alternatives leading
to the development of this base metals project by Yorbeau or a
potential partner.
In 2015, Yorbeau expanded its portfolio of
properties in Quebec by acquiring strategic base metals properties
in regions with high potential in the Abitibi belt which offer
favorable infrastructure to mine development.
Acquired base metal properties include the
Scott Lake Project comprising several mineralized zones that have
volcanogenic massive sulphides
(« VMS » mineralization characteristics). The
VMS-style mineralization at the Scott Project includes several
distinct lenses of stratiform massive sulphide located along or
near rhyolite-andesite/basalt contacts. In addition to
sulphides, distinct areas of vein-like and disseminated sulphides
of SMV (stingers) style, which can either connect to massive
sulphides or not, have been intersected over a distance of at least
2 kilometers in an east-west direction. According to a
Preliminary Economic Assessment ("PEA") conducted in late 2017 by
Roscoe Postle Associates ("RPA"), the project represents an
opportunity to develop a mine located near the mining towns of
Chibougamau and Chapais offering the housing benefits as well
as the availability of labor, equipment and materials needed for
the project.
About Yorbeau Resources
The 100% owned Rouyn property contains four
known gold deposits in the six-kilometre-long Augmitto-Astoria
corridor located in the western part of the property. The Company
signed a definitive agreement in December 2018 that gives IAMGOLD
the option to acquire a 100% interest in the Rouyn property, and a
major drilling program is underway on the property. Two of the four
deposits, Astoria and Augmitto, have substantial underground
infrastructure and have been the subject of technical reports that
include resource estimates and have been filed in accordance with
NI 43-101.
Additional information about the Company is
available on its website,
http://www.yorbeauresources.com.
For more information, please contact:
G. Bodnar
Jr. |
Laurent Hallé
P. Geo |
President, Chief Financial Officer |
Senior Consultant |
Yorbeau Resources Inc. |
Yorbeau Resources Inc. |
gbodnar@yorbeauresources.com |
lhalle@yorbeauresources.com |
Tel: 514 384 2202 |
Tel: 819 629 9758 |
|
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Toll free in North America: 1 855 384
2202 |
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Forward-looking statements: Except for the statement of
historical fact, all statements in this news release, including
without limitation, regarding the drilling program, as well as all
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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0343e6fe-92d6-4207-9c62-da57b84551f8
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