Sector
NewswireTM
Sector: Mining - Metals and Minerals
News Release -
March 4,
2008 7:34 AM ET
Yale Resources Ltd. Distinguished in
Resource Investment Journal for 8 Kilos Silver per Tonne at Urique
and Copper-Gold-Silver-Zinc mine
potential at La Verde
NEW YORK, NY --
March 4, 2008 /Sector Newswire/ -
Resourcex Investor has published a review on
Yale Resources Ltd. (TSX-V: YLL) (YRLLF.PK) (YAB.F) entitled "8
Kilos Silver per Tonne".
Image 1. Copper-Gold-Silver-Zinc prospects at
La Verde Project with Multi-Million Tonne Mine Potential
Yale Resources is "advancing
well on all fronts”; trenching and sample results
from the Carol property, drilling at Urique, plus
sampling results at La Cobriza and elsewhere at La
Verde - lots of news coming. |
Yale
Resources Ltd. has experienced a 20%+ increase in share
price in February due to increased awareness of the
considerable upside potential the Company presents on highly
mineralized projects and significant developments on several
fronts;
1) The announcement of significant silver values on their
Urique, Mexico property affirms the highly prospective
nature of the historic workings, mines and prospects within
which yielded significant values of as much as 10.6 g/t gold
and 8,290.0 g/t (or 241.5 ounces per ton) silver from 10-40
centimetre wide veins. Sampling within the altered andesite has yielded
gold and silver values of as much as 0.2 to 0.3 g/t gold and
5.0 to 41.0 g/t silver suggesting that the El Rosario area
has the potential to host a bulk tonnage open pittable
resource.
2) News that Yale has added a significant piece of land to
their La Verde Project has enabled them to secure control &
stewardship of entire La Verde project, thus maximizing
future upside of highly prospective Copper-Gold-Silver-Zinc
mine potential.
3) Yale topped off the month with news of geophysics that
identifies possible extentions to the La Verde Grande
Deposit.
The aforementioned developments coupled with Yale's quality
management team and highly prospective nature of their
Mexico properties are presenting outstanding opportunity as
summarized by Resourcex Investor. Excerpts of the review are
provided below.
|
Excerpt
from Review:
Yale
Resources Ltd (YLL TSX.V) has recently announced the discovery of a
new mineralized zone at their Urique Project, a 29,000 hectare
property in Sierra Madre gold belt in Mexico.
This most recently identified zone, El
Rosario, is located east of the town of Urique and comprises
multiple historic mines and prospects that exploited a system of
high grade veins. Formal mining of this area ended in the late
1920's and consisted of several hundred metres of underground
workings on three levels. These historic workings are all within a
zone of strongly silicified andesite host rocks that measures
approximately 100 metres wide and over 400 metres long. The zone is
open at depth and along strike sampling has yielded significant
values of as much as 10.6 g/t gold and 8,290.0 g/t (or 241.5 ounces
per ton) silver from 10-40 centimetre wide veins. There were also
two veins that returned assays greater than 3,000 g/t silver and a
half dozen other veins grading greater than 1,000 g/t silver. And
there are more that went unsampled. Of note for the technical types
is that these veins consistently have elevated gold grades, which is
significant as several mineralizing systems in the district that
have similar gold grades at surface have been proven to have better
continuity at depth. Sampling within the altered andesite has
yielded gold and silver values of as much as 0.2 to 0.3 g/t gold and
5.0 to 41.0 g/t silver suggesting that the El Rosario area has the
potential to host a bulk tonnage open pittable resource.
“What we’ve identified there now is a
target that’s over 400 m long and 100 m wide. We’re dealing with
silicified andesites in which we see discrete veins coming up
through it, you’ve got stringers, stockwork, and some of the
sampling of the individual veins are yielding up to 8 kilos per
tonne of silver. We’re getting some shockingly high values”, said
Mr. Foreman, P.Geo., president of Yale Resources.
Numerous plus-one million ounce gold
deposits have been discovered in this 300 km long region of
southwestern Chihuahua: including Mulatos (Alamos Gold), Dolores (Minefinders),
Ocampo (Gammon Lake), as well as the El Sauzal mine (Goldcorp). The
Urique Project is located only 10 km from the El Sauzal mine.
The El Sauzal mine entered production in
2004 and was scheduled to produce 170,000 ounces in 2005. As of Dec.
31, 2005, the mine has proven and probable reserves of 15,821,000
tonnes grading 3.29 g/t gold (for a total of 1,673,000 ounces) and
measured and indicated resources of 20,529,000 tonnes grading 2.73
g/t gold (for a total of 1,802,000 ounces)
As if having a successful exploration program in a district scale
project isn’t enough, Yale is also building an asset at it’s wholly
owned La Verde Project in Sonora.
Having just returned from a field trip to the La Verde
Grande mine, the crown jewel in Yale’s La Verde project, Mr. Foreman
showed us pictures of management team members underground in the old
workings. Oxidized copper on the surfaces of the adit imparts a
blue-green tinge to the ambient light generated from the flash. The
walls are literally covered from top to bottom with copper
oxidization.
“They were mining high grade copper from
here”, explains Mr. Foreman. “This was being mined in the early
1900’s. They were hand sorting high grade ore that they were
chasing. And I’m confident that they only exploited a small portion
of the deposit”
Yale recently announced an addition to its
La Verde project - the La Cobriza claim. "This ground is a very
important addition to the La Verde Project as there are several
geological and structural trends that have been identified that
cross the La Cobriza property,” said Mr. Foreman. “Yale now has
control over all of the significant known mineralization in the
vicinity of the La Verde Grande Mine and we will be able to fully
take advantage of having unencumbered access to test the
multi-million tonne potential of the property."
A sampling program by the Consejo de
Recursos Minerales on La Cobriza in 1982 showed that there is skarn
mineralization irregularly distributed over a strike length greater
than 500 metres. Twenty five widely spaced chip channel samples from
the various historic workings throughout this area ranged from 0.28
to 5.45 % copper, 0.15 to 8.60 % zinc, 3.90 to 578.00 g/t silver and
0.1 to 11.1 g/t gold (note: these samples are included for reference
only as they are historical in nature due to them being collected
before the creation of NI 43-101).
“So we’re advancing well on all fronts,”
Mr. Foreman concluded. “We’ll see trenching and sample results from
the Carol property, which are visually interesting, I’m told;
drilling at Urique; and we’re looking forward to results of sampling
at La Cobriza and elsewhere at La Verde. So we have lots of news
coming.” You can learn more about Yale Resources at their web site
at
http://www.yaleresources.com. # #
This release may
contain forward-looking statements regarding future events that
involve risk and uncertainties. Readers are cautioned that these
forward-looking statements are only predictions and may differ
materially from actual events or results. Articles, excerpts,
commentary and reviews herein are for information purposes and are
not solicitations to buy or sell and of the securities mentioned.
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