other properties close byYale adds 208 claim units to Adams Plateau
2005-03-15 09:41 ET - News Release
Mr. Ian Foreman reports
YALE TRIPLES THE SIZE OF THE ADAMS PLATEAU PROPERTY
Yale Resources Ltd. has staked an additional 208 claim units immediately to the east of, and contiguous with, the company's Adams Plateau property. The Adams Plateau property is located approximately 27 kilometres north of the town of Chase in the Kamloops mining district, British Columbia.
This recent staking more than triples the size of the Adams Plateau property. The newly acquired ground covers the approximately 10-kilometre continuation of the known favourable stratigraphy between the previous property boundary and the group of properties that host the Rea and Homestake volcanogenic massive sulphide (VMS) deposits.
Between 1984 and 1987 a large amount of exploration in the area resulted in the discovery of the nearby Rea, Homestake and Samatosum VMS deposits located the same stratigraphy that hosts Adams Plateau. The Rea and Homestake deposits have both seen production.
The Adams Plateau property is host to several VMS targets. The most advanced of these is the AXL zone, which was actively explored. The AXL zone is host to a shallowly dipping mineralized rhyolite tuff horizon that has been traced over a one-kilometre strike length, averages 17 metres in thickness, and contains strongly anomalous copper, lead and zinc values. Yale Resources' 2004 exploration program identified a discrete gravity anomaly that is coincident with the down dip projection of the AXL zone.
Yale is currently planning and budgeting the 2005 work program for the property.
The company has an option to earn a 100-per-cent interest in the Adams Plateau property. Ian Foreman, PGeo, is the company's qualified person as defined by National Instrument 43-101. Yale is continuing to review opportunities that meet the company's criteria for the acquisition of premium gold and/or copper projects worldwide.
We seek Safe Harbor.