MONTREAL, Sept. 17, 2020 /CNW Telbec/ - Yorbeau
Resources Inc. (TSX: YRB) ("Yorbeau" or the
"Company") is pleased to report that a geological
compilation and a borehole geophysics modeling deliver
high-priority targets along the highly prospective Lemoine horizon.
These targets are located approximately 400 metres down dip of
the mined-out deposit and 800 metres from the surface.
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 (Figure 1). 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
deposit was closed off by drilling below 400 metres vertical.
However, the deepest hole drilled from underground in this sector
(hole 12L-27) 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).
In 2013, hole LEM-63W was designed to make a follow-up on the
12L-27 intersection but did not reach the target due to excessive
deviation. Although, borehole geophysics in this hole detected two
off-hole conductors. Geophysical modeling made by INTER Géophysique
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. A drill
permit has been received and Miikan Drilling Inc. will mobilize to
the property in the coming weeks as soon as a large drill rig is
available.
G. Bodnar Jr., Company president commented: "The board of
directors unanimously approved, in accordance with Yorbeau's
strategic advisor, this exciting drilling program. A new high-grade
VMS discovery at Lemoine could be a game changer for Yorbeau's
Chibougamau projects including
Scott. We can't wait to test these targets in the next few
weeks.''
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.
