Yale Continues to Encounter Encouraging Results at Urique
23.05.2012 | Business Wire
VANCOUVER, British Columbia -- (BUSINESS WIRE) -- Yale Resources Ltd. (TSX-V – YLL, OTCBB – YRLLF, and FSE – YAB) is pleased to report additional gold and silver results from its ongoing comprehensive work program at the 290 square kilometre 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.A majority of the work in the southern portion of the Urique Project has been concentrated on the approximately four kilometre by four kilometre area immediately surrounding the town of Urique. The most important target identified, to date, is the El Rosario Target, which is defined by an approximately 175 by 450 metre silica alteration zone on surface with multiple widely spaced workings that tested the system over a vertical extent of approximately 200 metres. Previous sampling by Yale encountered bonanza grades of silver (+1,000 g/t) over narrow widths (see news releases dated Feb. 6, 2008) whereas recent sampling has been successful in identifying wider widths of mineralization such as the highlights below:
- 1.5 metre chip sample grading 4.77 g/t gold and 49.5 g/t silver;
- 4.2 metre chip sample grading 1.21 g/t gold and 12.6 g/t silver; and
- 1.4 metre chip sample grading 2.03 g/t gold and 14.4 g/t silver.
The El Rosario Target area is centred on the El Rosario working, which is made up of at least 600 metres of underground development that tested five veins – the longest of which was developed along at least 300 metres of strike length.
New mapping at El Rosario has re-interpreted a key geological unit that hosts the veining (and historic mining) at the El Rosario level to be a volcano-sedimentary unit that is much more extensive than previously thought. The orientation and size of this altered volcano-sedimentary unit may have significant implications on the controls on the emplacement of the high grade gold-silver mineralization and, as a result, on the potential to identify either feeder zones and or larger targets at depth.
Ongoing surface mapping and sampling continue to define the mineralization and alteration on surface as infill sampling has been successful in identifying additional zones of interest. A summary of the widespread sampling (defined by the nearest working) is provided below – to see a map of the El Rosario Target Area locating samples mentioned in this news release please click the following link: http://www.yaleresources.com/s/Urique.asp
Au Ag
Sample # Area Type Description Width (g/t) (g/t)
701208+9 Tezcalama Chip Inclined working hosted in agilically altered Andesite 3.10 1.01 25.9
701208 Tezcalama Chip - as above 1.50 1.62 12.5
701210 Tezcalama Chip Small workings hosted in strongly argilic altered volcanics 2.00 0.54 78.7
701211 Tezcalama Chip Small workings hosted in strongly argilic altered volcanics 1.70 0.25 285.1
701442 El Rosario Chip Quartz vein with galena and pyrite hosted in altered seds. 0.14 1.11 10.2
701443 El Rosario Chip Quartz vein with galena and pyrite hosted in altered seds. 0.16 0.51 4.4
701446 El Rosario Chip Quartz vein at contact between hornfels and dyke 0.21 0.70 267.2
701423 El Rosario Chip Quartz vein with hematite hosted in andesite 1.50 4.77 49.5
701212-14 El Salto Chip Exposure in dry waterfall 4.20 1.21 12.6
701212 El Salto Chip Strong silica alteration 1.40 2.03 14.4
701213 El Salto Chip Multiple narrow quartz veinlets with local galena and Cpy. 1.70 1.12 12.7
701214 El Salto Chip with pyrite and strong iron oxide staining 1.10 0.32 10.1
701438 El Salto Chip Quartz vein from inside working grab 0.29 134.3
701382 Feliciano canal Grey hornfels with strong silica alteration and diss. sulphides 2.00 0.16 58.2
Punto Ext.
701416 Oeste Chip Strongly argilically altered andesite 2.90 0.05 117.1
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 four are optioned out with commitments totalling approximately $1.0 M in expenditures during the next 12 months.
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.
Contacts
Yale Resources Ltd.
Ian Foreman
604-678-2531