News out yesterdayThis looks pretty interesting, they are drilling into a known orebody by the looks of this release. Seems to me this stock will have real legs once they hit the ground in June.
Stock is quiet... maybe now is the time to pick some up.
Mike.
Yale Resources plans Golden Revenue exploration program
2004-05-17 10:19 ET - News Release
Mr. Keith McMyn reports
YALE RESOURCES LTD.: REVIEW OF YALE'S GOLDEN REVENUE GOLD PROJECT
Yale Resources has provided a review of the exploration targets of the Golden Revenue property. Under an option agreement, Yale is earning up to a 70-per-cent interest in the property subject to a 2-per-cent net smelter return royalty applicable to two of the three blocks.
Golden Revenue is an 1,800-hectare property consisting of three contiguous claim blocks -- Nucleus, Revenue and Big Creek -- located in the Dawson Creek district of southwestern Yukon. The property is accessible via an 80-kilometre secondary road branching from the Yukon Highway, plus a network of four-wheel-drive roads.
The area lies within the Tintina gold belt, which stretches across central Yukon to southwestern Alaska, and hosts a number of significant intrusion-related gold deposits including Pogo (3.63 million ounce reserve at 16.12 grams per tonne gold) Donlin Creek, Fort Knox, Dublin Gulch and Brewery Creek.
Mineralization at Golden Revenue falls into two categories: vein structures with high-grade gold and variable copper; and gold stockwork and breccia zones with bulk-tonnage potential. Exploration targets identified to date include the Nucleus zone, the Discovery zone and eight additional gold prospects.
Nucleus zone
The Nucleus zone is a mineralized system centred on a swarm of subparallel porphyry dikes that covers an area 1,400 metres long and 500 metres wide. The zone is on the western margin of a strong 1.0-kilometre by 0.5-kilometre gold-in-soil geochemical anomaly. Drilling to date has been confined to a 200-metre by 200-metre central area, and many holes bottomed near the base of a 30-metre to 100-metre-thick oxidized cap.
Every hole intersected multiple mineralized intervals averaging 0.5 to 2.0 grams per tonne gold over widths of a few metres to tens of metres. Best individual diamond-drill intervals include 49.5 metres of 1.76 grams per tonne (DN 91-2), 36 metres of 1.36 grams per tonne gold (DN-01-02) and 57.76 metres of 1.32 grams per tonne gold (DN-01-03). Drilling and IP surveys carried out to evaluate hypogene mineralization point to a good correlation between moderate chargeability highs and mineralized intervals. Moderate chargeability responses have been identified both to the north and south of the drilled area along a 1.2-kilometre stretch covering the entire length of the IP grid.
High-grade structures were encountered in a percussion hole program. Best intercepts included 34.86 grams per tonne gold over 13.72 metres in hole PN88-08, 4.58 grams per tonne gold over 16.77 metres in hole PN88-31 and 11.15 grams per tonne gold over 6.10 metres in hole PN88-32.
Discovery zone
The Discovery zone hosts both high-grade veins and stockwork zones with bulk tonnage potential. Three main vein structures (D1, D2 and D3) have been identified. The structures are poorly defined and have not been systematically drilled with modern drill equipment and technology.
Following the original discovery of the D1 vein (24 grams per tonne gold, 240 grams per tonne silver and 12 per cent copper in trench), the only drill hole to intersect the structure was collared 110 metres south of the discovery trench. It penetrated an oxidized upper interval that was not sampled and a lower interval that returned 11.7 grams per tonne gold, 69 grams per tonne silver and 6.8 per cent copper over 1.2 metres.
The D2 vein is exposed in an old bulldozer trench that was recently mapped and sampled in two newly dug hand trenches. Both trenches cut mineralized intervals grading 13.7 grams per tonne gold over 4.5 metres and 5.6 grams per tonne gold over 5.2 metres. Six holes drilled in the vicinity of the D2 vein were either oriented oblique to or parallel to the structure. Nevertheless gold-copper mineralization was found in three holes, including a 7.6-metre interval averaging 3.68 grams per tonne gold and 1 per cent copper.
An exploration program is currently being formulated, to be carried out in June and July of 2004. Details of the program, which will include drill testing of both bulk tonnage and high-grade targets, will be provided shortly.
Management at Yale consists of long-term professionals with much success in gold exploration and development, in raising funds for major programs such as this and in stewardship of public companies.
WARNING: The company relies upon litigation protection for "forward-looking" statements.