VANCOUVER, Dec 08, 2011 (BUSINESS WIRE) — Yale Resources Ltd. (TSX-V — YLL, Pink Sheets: YRLLF, and FSE — YAB) is pleased to provide an update on its on-going exploration activities in Mexico.
Sonora Resources Ltd. has committed to the second year of the option for the Los Amoles silver property and Yale has received an additional 200,000 shares of Sonora Resources. The second year’s commitment at Los Amoles is US $300,000 in expenditures. A work program that will concentrate on sampling a number of the main underground workings in order to trace the continuation of the silver rich veins to depth is currently underway. This is an important step to define the potential for the veins in advance of a drill program expected in 2012.
Work is also underway at the Urique gold/silver property where confirmation sampling and mapping is being conducted in anticipation of additional work to be undertaken in 2012.
Drilling at the Dos Naciones copper/silver/gold property has concluded. It was successful in confirming the high potential for multiple skarn targets. The work was done on behalf of optionee Del Toro Silver Corp. Drilling in the strongly altered and fractured ground proved very difficult and each of the three holes was terminated before reaching the target depth due to technical reasons. Interesting visual oxide and sulphide mineralization was encountered in all three shortened holes and 38 core samples were collected. As a result, Yale will be recommending additional drilling with a larger, more powerful drill.
Field work at Dos Naciones was successful in identifying several previously unknown historic workings — one below the La Espanola target where the first two holes were drilled and one to the east of the Dos Naciones target where the third hole was drilled. A total of 46 samples were taken from these previously unsampled underground workings. Surface and core samples have been sent to Inspectorate Labs and results will be reported when received.
About Yale Resources:
Yale Resources utilizes the project generator business model to maximize its exposure to discovery while minimizing shareholder risk. Yale currently has eight projects in its portfolio of which six are optioned out with commitments totalling approximately $1.5 M in expenditures during the next 12 months. At the same time Yale continues to work on its non-optioned properties as well as reviewing new projects.
Ian Foreman, P.Geo, is Yale’s Qualified Person, according to National Instrument 43-101, for the Dos Naciones, Los Amoles and Urique Properties and is responsible for any technical data mentioned in this news release.
On behalf of the Board,
“Ian Foreman” Ian Foreman, P.Geo. President
For additional information on Yale Resources please call the Company at 604-678-2531
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release, other than purely historical information, including statements relating to the Company’s future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.
SOURCE: Yale Resources Ltd.
Yale Resources Ltd.
Ian Foreman, 604-678-2531
