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.
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.