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Volume 52.8K
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yorbeau resources inc-cl a (YRB/A) Snapshot

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52 Week High
03/17/14 - C$0.19
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12/23/14 - C$0.05
Market Cap
12.3M
Average Volume 10 Days
2.0M
EPS TTM
C$-0.03
Shares Outstanding
204.6M
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yorbeau resources inc-cl a (YRB/A) Details

Yorbeau Resources Inc., an exploration company, is engaged in the acquisition, exploration, and development of mineral resource properties in Canada. The company explores for gold and base metal properties in the northwest of Quebec. The company’s principal property is the Rouyn property, which consists of 1 mining lease, 1 mining concession, and 90 claims covering an area of approximately 2,668.29 hectares located in the Rouyn and Beauchastel townships, Québec. It also holds interest in the Beschefer property, which consists of 115 claims. Yorbeau Resources Inc. was founded in 1984 and is headquartered in Montréal, Canada.

Founded in 1984

yorbeau resources inc-cl a (YRB/A) Top Compensated Officers

Chief Financial Officer and Controller
Total Annual Compensation: C$50.0K
Compensation as of Fiscal Year 2013.

yorbeau resources inc-cl a (YRB/A) Key Developments

Yorbeau Resources Inc. Provides an Update on Recent Drilling Program at Rouyn Project

Yorbeau Resources Inc. provided an update on the recent drilling program at the Rouyn project. The drilling program totaled 3,070 metres in seven holes. Drilling was focused on a 2 kilometre long stretch of the Cadillac break and Piche Group located between the far east boundary of the Astoria deposit and the cross-cutting prolific Smokey Creek structure to which several gold past producers are associated. Historical drilling in this sector has been very limited and restricted to very shallow depths. The program was targeting gold mineralization associated with the Cadillac Break and the Piche Group at depths ranging from 200 to 400m. Specific objectives of the program included testing the extent of the new gold zone discovered in May 2014 and two holes testing both the ultramafic rocks of the Piche Group and Timiskaming sediments near the intersection between the Cadillac Break and the Smokey Creek fault. Results obtained in AS-14-646 (14.0 g/t Au over 2.0m) and AS-14-647 (2.7 g/t Au over 1.0m) show that mineralization in hole AS-14-645 does extend to the east over a distance of at least 130 metres and that gold mineralization east of the old shaft persists down to 400 metres. Remaining holes have confirmed the presence of the Piche Group and of sporadic gold values over at least 2 kilometres to the east of the Astoria gold zone. In addition, a basaltic member has now been formally identified in the Piche Group east of Astoria. This is a significant finding for future exploration in the sector since, by analogy with the world class Kerr Addison mine located 42 km to the west, such rocks are seen as better potential traps for gold mineralization due to their higher iron content. Encouraging sporadic gold intercepts hosted in sediments of the Timiskaming Group (e.g. 2.7 g/t Au over 1.0 m and 3.5 g/t Au over 1.0m) have also been found in hole AS-14-652 in the vicinity of the Smokey Creek fault. Further work will need to be done to assess the full significance of these intercepts. Re-logging of historic (1986 and 1995) drill core in the Astoria sector continued throughout the fall and led to the recognition of mineralized zones that had not been previously sampled. Most of the above drill holes are from underground drilling done with highly variable angles and the measured core lengths may not represent true thickness of the mineralized zones. Nevertheless, the above encouraging results definitely support pursuing re-evaluation of historic drill holes. Finally, outcrops found in the vicinity of the Smokey Creek fault were examined and sampled. In particular, a Timiskaming sediment outcrop well mineralized with sulphides (8% sulphides) returned assays strongly anomalous in gold, ranging up to 0.7 g/t Au. This mineralization is possibly related to the Smokey Creek fault itself and augurs well for a (yet untested) induced polarization anomaly located in a similar environment 350 metres to the south.

Yorbeau Resources Inc. Initiates Drilling Program at the Rouyn Property

Yorbeau Resources Inc. reported the beginning of a 3,000 metre drilling program on its Rouyn property. One drill rig was mobilized to the property and the work will be pursued over the fall. Drilling will be focused on a 2 kilometre long stretch of the Rouyn property located between the far east boundary of the Astoria deposit and the cross-cutting prolific Smokey Creek structure with which several gold past producers are associated (Stadacona, Senator, Sillidor and Elder). One of the objectives of the program is test the extent of the new gold zone discovered in May 2014 and which yielded 9.1 g/t Au over 9.0 m in hole AS-14-645 drilled in the vicinity of an old shaft sunk in the 1930s. Two holes will be drilled to test this zone at depths of 200 m and 400 m. The remainder of the program is designed to explore eastward the mineralized envelope within ultramafic rocks of the Piché Group, and particularly the intersection between this envelope and the cross-cutting Smokey Creek fault. Indeed, the intersection point between two well established gold bearing structures (Cadillac break and Smokey Creek fault) can be considered as a highly prospective sector for additional gold mineralization.

Yorbeau Resources Inc. Announces Executive Changes

Yorbeau Resources Inc. announced that David Crevier has resigned as President of Yorbeau and that Gérald Riverin, a director of the Company, has been appointed as the new President of Yorbeau. David Crevier will remain as a director and as Chairman of the Company. Yorbeau also announced the termination of the employment of François Perron as Vice President, Corporate Development of the Company, effective immediately.

 

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