Yale Provides Update on Exploration Activities
Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB) is pleased to
provide an update on the Company′s latest exploration activities and the
status of projects. The Company has recently finished working on
multiple properties in advance of the upcoming drill program on the
Guadalupe Property.
Tenoriba:
The initial work program at the recently acquired Tenoriba Project has
been completed with the goal of following up on the Company′s evaluation
visit of the property. Company staff visited a total of six areas but
concentrated on the La Verde and Moreno targets, which are the most
advanced but have yet to be drilled.
In addition, the drill pads of each of the previous 15 drill holes
drilled by the previous operator were visited with the goal of trying to
understand the rational for their locations. It is now apparent that
several holes were either drilled parallel to or away from surface
exposures of mineralization.
Another of the primary goals of this initial work program was to confirm
the presence of "vuggy silica′ that had been mentioned in previous work.
Vuggy silica is often an important texture in epithermal systems and can
be associated with the higher grade core of these styles of
mineralization. Vuggy silica has been confirmed in three target areas
including the La Verde and Moreno targets (previously sampled on surface
but not drilled). The third location with vuggy silica was tested with
drill hole DH-07, which returned 45.90 grams per tonne gold over 1.9
metres at a down hole depth of 62.8 m (see news release dated July 27,
2010).
Samples have been submitted to the lab for analysis and results are
anticipated in two to three weeks.
Dos Naciones:
38 samples from a recently completed field program at Dos Naciones have
now been submitted to the lab for analysis. The samples are from a work
program that concentrated on the La Josefina silver/lead target in the
approximate centre of the property. Fieldwork was successful in
identifying multiple new exposures of veins as well as a historic
working that was previously unknown. The Josefina Target now consists of
a series of at least six sub-parallel veins with the core of the
silver/lead system having been traced along surface for approximately
600 metres along strike and over 250 metres wide.
This work was completed on behalf our partner Del Toro Silver Corp. who
must spend a total of US $400,000 on the project before July 7, 2011. It
is anticipated that additional work will be completed at Dos Naciones in
the coming months.
Urique:
The Company has terminated the option agreement with American Sierra
Gold Corp. for the Urique Property for failure to fulfill certain
financial obligations as outlined in the agreement.
During the length of the agreement there were approximately US$ 350,000
spent as Expenditures related to the property and Yale received
approximately US$ 110,000 in cash. In addition, Yale was able to
purchase a 100% interest in the property as well as discover a
significant new gold-rich zone within the El Rosario target utilizing
funds provided by our partner.
The Urique Property is 100% owned and controlled by Yale and the Company
will now be seeking another partner to advance the project further.
About Yale Resources:
Yale Resources is an exploration and development company concentrating
in northwestern Mexico that is building value through the Project
Generator Business Model. Yale continues to work on its non-optioned
properties and to review new projects.
Ian Foreman, P.Geo., is Yale Resources′ Qualified Person, as defined by
National Instrument 43-101, for Yale′s properties. The properties are
all early stage projects with no reported resources and require
additional sampling and geological mapping to fully determine each
project′s potential.
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.
Yale Resources
Mr. Cary Martin, 604-678-2531 ext. 223