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Yorbeau Resources Inc.
Summary
| Project: | Rouyn | |
|---|---|---|
| Deposit: | Rouyn | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/8/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 8-5-2017: Yorbeau Resources Inc. announces an Exploration/Drilling Update report for its Rouyn deposit at the Rouyn project. Drilling results incl. 7.8m @ 7.0g/t Au from 818.0m. Yorbeau Resources Inc. (TSX: YRB.A) (the “Company” or “Yorbeau”) is pleased t | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Gerald Riverin (Internal) | |
| ABSTRACT: | Yorbeau Resources Inc. (TSX: YRB.A) (the “Company” or “Yorbeau”) is pleased to report on the exploration drilling done by an affiliate of Kinross Gold Corporation (“Kinross”) on the Company’s 100% owned Rouyn property (“Property”) in Quebec, Canada. The Company signed a definitive agreement with Kinross in October 2016, whereby Kinross has the option to acquire a 100% interest in Yorbeau’s Rouyn property (“Property”) in Quebec, Canada. In order to earn the purchase option, Kinross must fund C$12 million dollars of exploration expenditures over a 4-year period, including a firm commitment to spend C$3 million in the first 18 months and no less than 12,500 meters of diamond drilling. As operator, Kinross has already completed a total of 16,048 metres of drilling in 23 holes. This drilling includes wedge-cuts and holes aborted due to excessive deviation. The meterage completed satisfies the minimum commitment of 12,500 metres specified in the agreement. Kinross reports that as of the end of March 2017 it has spent approximately C$1.9 million towards the C$3 million firm commitment. The overall goal of the program is to identify high-grade ore shoots within the broad mineralized gold corridor represented by the Piché Group of ultramafic rocks. Two main areas on the property, Astoria and Lac Gamble, have been actively tested since the beginning of the drill program at vertical depths typically exceeding 600-700 metres. | |
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