MONTREAL, Dec. 23, 2020 /CNW/ - 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.
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.
