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Category: Investment, Gold, Mining
Mining Stocks; YALE (TSX-V: YLL) Identifies Significant Geophysical Anomalies at Guadalupe
Visit this company: www.yaleresources.com
August 30, 2010 (Investorideas.com Mining stocks Newswire) - Yale Resources Ltd. (TSX-V: YLL and Frankfurt: YAB) is pleased to announce that a recently completed geophysics program at the wholly owned Guadalupe Property, on behalf of our partner Gold American Mining Inc., has identified multiple potentially significant geophysical anomalies.
A total of 22 line kilometres of geophysics were performed at Guadalupe. The geophysical survey was designed to test down to depths of 500 metres. The key results from the geophysics program are:
- Magnetic susceptibility survey was successful in identifying the trace the near surface extensions of the known veins. The presence of additional parallel anomalies suggest the potential for additional veins that do not outcrop
- Induced Polarization anomalies indicate the potential for down dip extensions to the main veins within the property.
- A potentially significant chargeability anomaly (Induced Polarization) occurs in the southern portion of the property in between the Santa Rosa and San Antonio Mines at depth starting at 400 m, which is below the known depth of these historically important mines.
"These are compelling targets that support our interpretation that the Guadalupe has the potential to host potentially significant mineralization at depth. These new geophysical anomalies can now only be properly tested with a drilling program", stated Ian Foreman, P.Geo., president of Yale.
About the Guadalupe Property:
The 282.84 hectare Guadalupe Property is located approximately 4 kilometres north of the city of Fresnillo, Zacatecas State, Mexico. The property is approximately 8 kilometres north of the Fresnillo (Proaņo) Mine, the world's richest underground silver mine operated by Fresnillo plc. The property is also approximately 11 kilometres northeast of the Juanicipio Joint Venture between MAG Silver Corp. and Fresnillo plc.
The Property contains greater than 20 known workings as well as two historically important mines - Santa Rosa and San Antonio.
Ian Foreman, P.Geo, is the Qualified Person, according to National Instrument 43-101, for the Guadalupe Project and is responsible for the technical data mentioned in this news release. The presence of geophysical anomalies does not guarantee that there is a deposit.
About Yale Resources:
Yale Resources is an exploration and development company concentrating in northwestern Mexico that is building value through project generation. Yale has three of its seven properties optioned out to value added partners. These agreements combine for minimum commitments of approximately US $1,100,000 of exploration expenditures over the next 12 months. Yale continues to work on its non-optioned properties as well as reviewing new projects with a focus on gold.
Samples from the Guadalupe property were prepared and analyzed by Stewart Labs in their facilities in Mexico and Kamloops, respectively. Samples generally consisted of 1-3 kg of material. Gold and silver analyses were performed by 30 gram fire assay with an AA finish. Samples with greater than 100 g/t silver were re-assayed using gravimetric methods.
Ian Foreman, P.Geo., is Yale Resources' Qualified Person, as defined by National Instrument 43-101, for the Guadalupe property. The Guadalupe property is an early stage project with no reported resources that requires additional sampling and geological mapping to fully determine the 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.
Contact:
Yale Resources
Cary Martin, 604-678-2531 ext. 223.
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