Company Announcements

Yorbeau Announces Beginning of Drilling Program at KB Project in Chibougamau Camp, Quebec

MONTREAL, July 14, 2020 /CNW/ - Yorbeau Resources Inc. (TSX: YRB) ("Yorbeau" or the "Company") is pleased to announce that diamond drilling has resumed at its KB project in the Chibougamau area of Quebec.

The KB project is highly prospective for zinc and copper due to the presence of a historic high–grade prospect associated with a massive sulphide stratigraphic horizon hosted within mafic and felsic volcanics. The property appears to have a geological setting similar to that found at the past producing Lemoine mine and at Yorbeau's Scott project, including high grade VMS-style mineralization, presence of felsic tuffs and potential for high synvolcanic heat flow resulting from the proximity of the Lac Doré Complex (Figure 1).

The current drilling program is a follow-up on a 2019 drilling data compilation that to led to a better understanding of stratigraphy and particularly the location of the KB prospective horizon (see news release dated February 27, 2020). One drill rig is currently in operation and approximately 1,500 metres of drilling are planned to test three high priority targets (Figure 2) as described below.

Target #1

In 2019, hole KB-02 was drilled 25 metres below the Icon showing to better understand the geometry, stratigraphy and confirms historical grades obtained by Icon Sullivan in 1967. KB-02 intersected 1.4 meters of massive sulfides grading 0.9% copper, 10.5% zinc, 0.1 g/t gold and 34 g/t silver. Borehole geophysics modeling shows a 150 metre by 300 metre strongly conductive plate located along the KB horizon at a 200 metre depth east of the Icon showing (Figure 3). 

Target #2 

Hole KB-05 intercepted another prospective horizon located 100 metres south of KB horizon, returning 2.8% copper, 1.3% zinc, 0.3 g/t gold and 30 g/t silver over 0.2 metres. This new horizon, called KB south, corresponds to a semi-massive sulfides zone hosted by an intermediate bedded tuff. Mineralization is open to the east where a borehole geophysical plate has been modelized.

Target #3

This target corresponds to the eastern part of the KB horizon that has been shifted by a NNE trending fault and where several untested VTEM anomalies are located.

Yorbeau has implemented rigorous safety protocols in order to prevent the spread of COVID-19 which are in line with recommendations from the National institute of public health of Quebec (INSPQ) and the Commission des normes, de l'équité, de la santé et de la sécurité du travail (CNESST).

Work is carried out by the personnel of Yorbeau, under the supervision of Sylvain Lépine, M.Sc, P.Geo. He is a qualified person (as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43–101")) and has reviewed and approved the content of this release.

About Yorbeau Resources Inc.

Yorbeau Resources is a diversified mining exploration company with an enviable portfolio of exploration properties in Quebec. The exploration projects comprise both gold and base metal projects, and the strategic focus of the Company is on projects located in areas easily accessible and with infrastructure. The wholly-owned Rouyn Property is the Company's main gold asset and 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, where very encouraging drilling results were obtained in 2019 and 2020. The base metal assets include the Scott Project, 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 statement of historical fact, all statements in this news release, including without limitation, regarding the prospects of the KB 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.