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Yorbeau Resources updated on Gold and Silver Project in Scott Township

Mining News - Published on Fri, 17 Feb 2017

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Yorbeau Resources Inc report on a material increase in the updated mineral resource estimate for its copper, zinc, gold and silver project in Scott Township, Chibougamau, PQ. The mineral resource estimate was prepared by William E. Roscoe, Ph.D., P.Eng. and Katharine Masun, MSA, M.Sc., P.Geo. of Roscoe Postle Associates Inc.

Mineral resources have been classified in the Indicated and Inferred categories as follows:

Category Tonnes %Cu %Zn g/t Au g/t Ag
Indicated 3,556,000 0.9 4.2 0.2 37
Inferred 13,970,000 0.8 3.5 0.2 22
1. CIM Definition Standards were followed for Mineral Resources.
2. Resource are reported at an NSR cut-off value of $100/t for massive sulphide and $65/t for stringer sulphide lenses.
3. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability.
4. Numbers may not add due to rounding.

The current mineral resource estimate was done by block modeling techniques, using a minimum horizontal width of approximately two metres and a cut-off value based on a Net Smelter Return basis, as warranted by the style of mineralization. The resources enclose both massive sulphide and stringer sulphide lenses, and cut-off values were determined to be $100 per tonne, except for wide stringer sulphides envelopes where a cut-off value of $65 per tonne was used to account for favorable geometry that suggest potential suitability for underground bulk mining methods. All technical parameters will be fully disclosed in the Technical Report prepared by RPA, which will also be posted on Yorbeau's web site when received.

Mr Gérald Riverin company president commented that "We are most enthusiastic about the results of this new mineral resource estimate which no doubt marks a very important milestone for the project and the Company. With the remarkable positive drift in zinc price observed in the market since the summer of 2015, we consider the new resource estimate particularly timely and positive for our Company. The next step is to complete metallurgical testing and initiate a preliminary economic assessment to have a better idea of what we have in our hands".

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Posted By : Rabi Wangkhem on Fri, 17 Feb 2017
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