Yorbeau Resources Inc. (TSX: YRB) (the
“
Company” or “
Yorbeau”) is
pleased to provide an update on its upcoming exploration on its
high-potential strategic metals (Copper, Zinc, Nickel, and Cobalt)
properties in Beschefer, Selbaie West, and Landrienne. The Company
plans to invest nearly $2 million on three properties over the next
18 months. The Company intends to fund these programs using the
proceeds of the $1 million private placement of flow-through class
A common shares of the Company completed in August 2024 and a
portion of the $25 million purchase price to be received from
the sale of its Rouyn gold property.
Highlights:
-
6,610 meters of drilling on the possible extension of the B-26
Copper and Zinc zone of Abitibi Métal-Soquem.
-
Verification of induced polarization targets on the extension of
the B-14 gold zone.
-
Verification of the new Nickel and Copper zone in
northern part of Selbaie-West property.
-
Characterization of the Detour-Selbaie host rock mineralization of
Soquem. Detour-Selbaie minéralisation on Yorbeau ground.
-
Verification of gravity anomaly targets near the Landôme
deposit.
The Company will focus on base metal exploration
in line with the Quebec and Federal governments’ inclusion of
copper, zinc, nickel, and cobalt as strategic minerals. Moreover,
these metals are in high demand globally, with prices rising,
making their availability crucial for Western countries.
The Company recently announced the entering into
of a binding agreement for the sale of its Rouyn gold property to
Lac Gold Rouyn Inc. for a total purchase price of $25 million
(press release dated October 2, 2024). This transaction, when
closed, will provide additional funding for the Company’s 2024-2025
exploration work.
Over the past 12 months, the area of the former
producer Mine Selbaie north of La Sarre has seen major exploration
with the development of the B-26 zone by Abitibi Métal-Soquem and
the discovery of significant copper and zinc mineralization
northwest of the Selbaie mine by Soquem. These two sectors are
currently the subject of major work totaling 56,000 meters of
drilling. Yorbeau holds a strategic position relative to these two
projects. Based on Yorbeau’s acquired knowledge, the host rocks of
these deposits could logically extend several kilometers within the
boundaries of the Beschefer and Selbaie-West properties (see Figure
1). The Company plans to undertake exploration amounting to over
$1.7 million on these two properties over the next 18 months.
Figure 1 Localisation of Yorbeau properties
Beschefer Property
For 2024 and 2025, the Company plans for
exploration work totaling $1,574,500, including $1,284,250 on the
B-26 zone and $288,250 on the B-14 zone. Over 6,500 meters of
drilling is planned, as well as a 1,352 km airborne magnetic and
electromagnetic survey covering the entire property (completed in
August 2024). This survey will help better define geological
contacts, highlight intrusive bodies, and identify discordant
structures. The survey was conducted along north-south lines spaced
100 meters apart.
The Beschefer property program was designed to:
-
Trace the continuity of copper-zinc-gold and silver mineralization
from the B-26 zone immediately east of Abitibi Métals-Soquem
boundary.
-
Verify a strong alteration zone, located over 2 km to the east of
B-26 zone.
-
Obtain a complete magnetic map of the property for more precise
geological contact and structure tracing.
-
Conduct downhole EM surveys for the current drilling campaign and
certain older drill holes.
-
Verify several induced polarization anomalies in the northern
sector, possibly corresponding to the extension of the B-14 gold
zone.
Figure 2 Drill targets on B-14 zone extension
Selbaie-Ouest Property
For the years 2024 and 2025, the Company plans
exploration work for an amount of $250,000. A
1,000 meter drilling program and geophysical surveys will be
planned in the coming weeks.
The Selbaie-Ouest property program has been designed to:
-
Test the copper and nickel mineralization in the northern part with
an induced polarization survey and 1,000 meters of drilling.
-
Characterize the felsic rock unit hosting the Détour-Selbaie
mineralization on Yorbeau ground.
The Selbaie-Ouest property sector has undergone
significant developments. Soquem over the past two years has
discovered important values of copper-zinc and silver
mineralization on a felsic rock horizon on its Wagosic property.
This horizon crosses the eastern boundary of the Yorbeau
Selbaie-West property as indicated by a drill section completed in
2017 in hole SW-04 (0.5% Cu, 1.07% Zn over 5.5 meters). The Company
intends to carry out geophysical surveys and drilling. The budget
and exploration program for the extension of the copper and zinc
mineralization is being prepared and will be disclosed later.
In parallel with the Copper and Zinc
mineralizations, hole SW-12A (February 2012) was resampled to
obtain full metal values along the mineralized zones. In fact, in
2012, the drilling had only been partially analyzed in the
disseminated sulphide zones which returned 0.24% Ni and 0.6% Cu
over 1.5 meters. The new assays returned values of 0.09% Cu
and 0.12% Ni over 7.9 meters (344.4 to 352.3), as well as 0.12% Cu
and 0.09% Ni over 33 meters (364 to 397.7), including 0.4% Cu and
0.18% Ni over 2.85 meters (378.5 to 381.35). These new
data, combined with the bleb textures observed throughout the
drilling (Figure 3), suggest a possible larger magmatic
copper-nickel system. Geophysical surveys and drilling are
necessary in the area. The Company is therefore planning an induced
polarization survey and a 1,000 meter drilling campaign for a
budget of $250,000.
Figure 3 Bleb texture in SW-12A
Landrienne Property
Over the past two years, Yorbeau has conducted
induced polarization and gravity surveys in the eastern sector of
the property. Several geophysical anomalies (figure 4) have been
identified within 700 meters of the Landôme deposit (251,304 tonnes
grading 2.48% Cu and 2.02% Zn). These targets will be verified with
700 meters of drilling on two targets at a depth of about 250
meters before the end of the year.
Figure 4 Gravimetric targets on Landrienne (GéophysicTMC)
The scientific and technical content of this
press release has been reviewed, prepared, and approved by Mr.
Laurent Hallé, Senior Mineral Exploration Consultant with Yorbeau,
who is a “Qualified Person” as defined by National Instrument
43-101 – Standards of Disclosure for Mineral Projects.
For more information, visit the website:
www.yorbeauresources.com or
contact:
G. Bodnar.
Jr |
Laurent Hallé,
P. Géo. |
President and CFO |
Senior Consultant |
Ressources Yorbeau Inc. |
Ressources Yorbeau Inc. |
gbodnar@yorbeauresources.com |
lhalle@yorbeauresources.com |
Tel: 514 384 2202 |
Tel: 819 629 9758 |
Toll-free in North America: 1 (855) 384-2202
Forward-looking Statements:
Except for statements of historical facts, all
statements in this press release, including without limitation
those concerning Yorbeau’s planned exploration programs, closing of
the sale of Yorbeau’s Rouyn property
(the “Transaction”) and the intended use of
proceeds thereof, and future plans and objectives, are
forward-looking statements involving risks and uncertainties. These
risks and uncertainties include, but are not limited to, the
failure of the parties to the Transaction to satisfy the closing
conditions to the Transaction, failure of the parties to satisfy
such conditions in a timely manner, and risks related to the
payment of the unpaid balance of the purchase price for the
Transaction and the timing of any such payments, and the risks and
uncertainties described in Yorbeau’s most recently filed annual
information form. Failure of the parties to satisfy the conditions
to the completion of the Transaction or to complete the Transaction
may result in the Transaction not being completed on the proposed
terms, within the anticipated timeframe, or at all. There is no
assurance that any such statements will prove accurate. Actual
results and future events may differ materially from those
anticipated in such statements. Yorbeau disclaims any obligation to
update such statements, otherwise than as required by applicable
securities laws.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e866e39e-0ba1-40e5-9e0e-1ba67ac374ef
https://www.globenewswire.com/NewsRoom/AttachmentNg/fbbce55d-abb0-4e22-91ab-5efb499fba7f
https://www.globenewswire.com/NewsRoom/AttachmentNg/a9b58c1f-b70c-4974-bb71-f780b1d4c506
https://www.globenewswire.com/NewsRoom/AttachmentNg/8e54a508-dfbf-4f2d-9a39-9ce36e9ac6ac
Yorbeau Resources (TSX:YRB)
Historical Stock Chart
From Oct 2024 to Oct 2024
Yorbeau Resources (TSX:YRB)
Historical Stock Chart
From Oct 2023 to Oct 2024