Yorbeau Resources Inc.

Yorbeau Resources Inc.

September 06, 2012 07:30 ET

YORBEAU Provides Update on its Current Drilling Campaign

10.2 g/t Au over 6.0 metres and 10.3 g/t Au over 9.0 metres at a depth of 100 metres

MONTREAL, QUEBEC--(Marketwire - Sept. 6, 2012) - Yorbeau Resources Inc. (TSX:YRB.A) ("Yorbeau") is pleased to provide an update on its 2012 exploration program which is focused on the Lake Gamble Block of the Company's Rouyn property.

The drilling campaign started on January 10, 2012 and continues at present with one drill rig in operation. To date 21 holes and two wedges between sections 7800 E and 8250 E have been completed for a total of 8,734.9m. The Company anticipates drilling an additional 4,500m of NQ core and expects to complete the program around December. The purpose of the program is to generate the data necessary to permit the preparation of a resource estimate on the Lake Gamble Block compliant with NI 43-101.

Highlights include the following assays at a vertical depth of 100 metres:

Drill Hole From (m) To (m) Core Length (m) Au g/t Remarks
12-GA-580 129.0 135.0 6.0 10.2 Piché Group, with traces of visible gold
129.0 130.0 1.0 57.9 Piché Group, with traces of visible gold
12-GA-584 113.0 122.0 9.0 10.3 Piché Group, 188 specks of visible gold
118.0 119.0 1.0 17.4 VG (33 specks)
120.0 121.0 1.0 33.7 VG (74 specks)
121.0 122.0 1.0 30.9 VG (73 specks)

Other significant results include the following. Unless otherwise noted, all assays are from mineralized rocks from the Piché Group. The location of the holes is shown on the attached figure (http://file.marketwire.com/release/lac-gamble.pdf) and assay details are shown below:

Drill Hole From (m) To (m) Core Length (m) Au g/t Remarks
12-GA-573 552.0 556.0 4.0 2.2 visible gold
555.0 556.0 1.0 4.9 traces of visible gold
12.GA-576 565.0 567.0 2.0 2.3
12-GA-577 520.0 524.0 4.0 2.7 visible gold
520.0 522.0 2.0 4.3 several specks of VG
12-GA-579 811.0 825.0 14.0 2.3 assays preliminary only, at least 43 specks of visible gold within the interval
811.0 812.0 1.0 8.4 VG
818.0 819.0 1.0 3.0 VG
823.0 825.0 2.0 8.0 VG
12-GA-580 198.0 204.0 6.0 2.2 Footwall zone
199.0 200.0 1.0 4.9
203.0 204.0 1.0 4.9
12-GA-581 276.0 281.0 5.0 0.7
12-GA-582 308.0 314.0 6.0 3.9 VG
310.0 311.0 1.0 5.8 VG (12 specks)
313.0 314.0 1.0 15.8 VG (1 speck)
12-GA-583 357.0 361.0 4.0 0.7 VG (7 specks)
12-GA-585 84.0 85.0 1.0 4.6 VG (1 speck)
12-GA-586 177.0 179.0 2.0 1.8 VG (4 specks)
12-GA-587 134.0 136.0 2.0 1.2
12-GA-588 208.0 240.0 32.0 1.3 assays preliminary only, at least 30 specks of visible gold within the interval
228.0 229.0 1.0 13.7 VG (1 speck)
237.0 238.5 1.5 16.1

Although true width of the mineralized zones cannot be established with accuracy given the large spacing between holes, it is estimated to be about 70% of core length.

Drilling data on the Lake Gamble Block comprised of 48 holes drilled since 2006 has identified a panel of mineralization which has a strike length of 400 m and which measures in excess of 400m on the vertical axis, starting at a depth of approximately 100m. The current program includes definition and in-fill drilling so that the piercing points of the various drill holes are located no more than 100m apart. This spacing should permit the estimation of resources in the inferred category under NI 43-101.

Gold mineralization appears to be abundant, but assays are erratic with coarse visible gold being observed in 35 of the 48 holes (72%) in the Lake Gamble area. The erratic nature of the gold mineralization presents certain challenges with respect to appropriate sampling and the Company is currently working on establishing an improved protocol for processing samples for assaying. Preliminary indications are that, using a conventional protocol at a commercial laboratory, assay results demonstrate a variability of more than 300%.

Recently the Company drilled hole 12-GA-579 which was originally intended to target the Piché Group at a depth of 650m. The expected deviation in the drill hole did not occur with the result that the hole pierced the target formation at a depth of more than 800 m. This hole, one of the deepest on the Rouyn property to date, encountered 14m of mineralization with 43 specks of visible gold being observed in the core. It was decided to do a wedge off this hole and the result was hole 12-GA-579-W1B which encountered a mineralized section 16m in width with 83 specks of visible gold being observed in the core. Although complete sampling of these holes is being delayed until the Company establishes the new protocol better suited for coarse gold as mentioned above, holes 12-GA-579 and 579-W1B demonstrate clearly that the deposit is open at depth.

"In spite of the sampling challenges that we are experiencing at Lac Gamble, we are excited with the results obtained at shallow depth where we can see a significant 400 metre strike length of apparently continuous gold mineralization at a 100 metre depth." says President and CEO David Crevier. "These results, combined with the wide intercept at depth in holes 12-GA-579 and 579-W1B, set the stage for future exciting developments at our Rouyn property" adds Mr. Crevier. Upon completion of the present drilling program, the Company is targeting the completion of NI 43-101 compliant resource estimates for both the Lac Gamble and Cinderella Blocks. These estimates are expected to be available in the first quarter of 2013. When added to the two previous resource estimates on the adjoining Augmitto and Astoria Blocks, the Company will be able to present continuous defined resources along a 6 km long corridor in the western portion of the property.

The qualified person under National Instrument 43-101 is Laurent Hallé, P.Geo., who has reviewed and approved the content of this release.

Assays referred to in this press release were obtained at ALS Chemex Laboratories in Val d'Or, Quebec. All samples are analyzed by standard fire assay. Samples returning more than 3 g/t are re-analyzed by fire assay with a gravimetric finish. Yorbeau has implemented a QA/QC program that consists of inserting blanks and gold standards in batch samples being sent to the assay laboratory. Selected pulp samples will also be re-analysed by a different laboratory.

About Yorbeau Resources Inc.

The raison d'être of Yorbeau is to identify a world class gold deposit in a major mining camp. Against the backdrop of a market that is steadily more welcoming for gold, Yorbeau is poised to significantly increase the known gold resources on its properties in Northern Quebec.

Forward-looking statements: Except for statement of historical fact, all statements in this news release, without limitation, regarding new projects, acquisitions, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

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