Yale Resources Ltd. (TSX-V — YLL, OTCBB — YRLLF, and FSE — YAB) is pleased to report that a comprehensive work program is now underway at the Urique Project, located in Chihuahua State, Mexico, immediately north of Goldcorp’s El Sauzal gold mine and immediately south of Kimber Resources’ Monterde Property. Work at Urique is being performed on behalf of optionee Mammoth Resources Ltd. (MTH — TSX.V).
The initial results from sampling at the San Pedro Target has identified multiple new zones of gold mineralization and confirmed the strong potential of previously known zones. Gold and silver mineralization at San Pedro is interpreted to be low to intermediate sulfidation and occurs as widely spaced quartz vein/stockwork zones and shear zones associated with felsic dykes hosted in strongly altered volcanic rocks.
Important gold values (greater than 0.3 g/t Au) now have been identified throughout an area measuring approximately 1,400 metres by 1,000 metres. In this initial phase, 121 rock chip samples were taken from quartz veins/stockwork zones and their immediate wall rock near or at the entrance of small mine workings. Highlights from this first widespread sampling are listed below:
| Location | metres | Au (g/t) | Ag (g/t) |
|---|---|---|---|
| Monse pit | 5.90 | 0.48 | 4.2 |
| incl: | 0.60 | 3.65 | 31.4 |
| Monse working | 2.00 | 5.52 | 38.5 |
| Mina San Pedro | 6.40 | 0.60 | 13.8 |
| Area Mirador pit 2 | 0.60 | 1.32 | 42.4 |
| Trench 1 | 3.00 | 0.67 | 5.8 |
| incl: | 0.50 | 2.46 | 22.3 |
| Eloy pit 1 | 1.20 | 0.92 | 3.4 |
| Eloy pit 2 | 1.70 | 1.24 | 4.5 |
| Trench 2 | 3.90 | 1.41 | 3.5 |
| incl: | 2.40 | 2.24 | 5.4 |
| Curva pit | 3.60 | 0.78 | 1.2 |
| Trench 4 | 2.60 | 1.42 | 8.4 |
| incl: | 0.80 | 3.77 | 13.3 |
| Trench 6 | 0.20 | 18.78 | 91.9 |
| and | 0.20 | 1.63 | 50.7 |
| Trench 7 | 1.00 | 0.53 | 1.6 |
| and | 0.70 | 4.07 | 2.5 |
To date only a combined 50.6 linear meters of trenches have been sampled. A number of trenches are open and need to be extended to fully define the following results (see table above for detail):
- Trench 2 – first sample returned 1.55 g/t gold
- Trench 4 – first sample returned 3.77 g/t gold
- Trench 6 – first sample returned 18.78 g/t gold and the last sample returned 1.63 g/t gold
- Trench 7 – first sample returned 0.53 g/t gold and the last sample returned 4.07 g/t gold
The Company currently has four geologists dedicated to the project based out of two camps that are used as the bases of operations to cover the northern portion of the property — Urique North and the southern portion of the property — Urique South.
Work in Urique North will be concentration on the San Pedro target before moving on to the Cuiteco Target and other anomalies whereas the field program in Urique South Ongoing work will continue to develop a geological database and understanding of the Urique Target Area, which contains greater than 20 historic producing mines, as well as investigate numerous other targets and prospects located in the southern portion of the property that borders Goldcorp’s El Sauzal property. The goal of this work is to advance the primary target areas to the drill-ready stage as rapidly as possible.
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 Urique property and is responsible for any technical data mentioned in this news release.
Samples from Urique were prepared and analyzed by IPL Inspectorate in their facilities in Mexico and Vancouver, respectively. Samples generally consisted of 1-3 kg of material. Gold analyses were performed by 30 gram fire assay with an AA finish. Silver, copper, lead and zinc were analyzed as part of a multi-element ICP package using an aqua regia digestion. Over limit samples with greater than 1% Cu, Pb and Zn were re-analyzed using ore grade detection limits.
On behalf of the Boards,
“Ian Foreman”
Ian Foreman, P.Geo.
President, Yale Resources Ltd.
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.
