newsYale Resources Ltd.: Drilling commences at the Makuru Gold Property, Namibia
Vancouver, British Columbia CANADA, Jun 01, 2006 (M2 PRESSWIRE via COMTEX News Network) --
Yale Resources Ltd. (YLL - TSX Venture), is pleased to announce that drilling has commenced at the Makuru Gold Property located in Namibia, south western Africa. Helio Resource Corp. (HRC-V), the optionor and current operator of the project, is conducting a planned 13 hole, 1,750 metre reverse circulation phase-1 drill program.
This is the first ever drill program on the Makuru property. The Company has successfully advanced the property from a grassroots prospect to the drill stage. Rotary Air Blast (RAB) drilling completed in March of this year (see news release dated April 10, 2006) confirmed that there is widespread copper-gold-silver (+/- pathfinder elements) anomalies in bedrock associated with 4 distinct targets within an approximately 4 square kilometre area. These targets are:
1) - 0.52 g/t Au in bedrock with associated copper, silver and gold in soils, 2) - 0.28 g/t Au in bedrock with associated copper, silver and gold in soils, 3) - greater than 200 metres of combined anomalous copper, silver and gold in soil and bedrock that appear to be associated with a NW trending structure 4) - a 3+ km long IP chargeability anomaly with local widespread copper, silver and gold-in-soil anomalies with a spatially associated 175 metres of continuous anomalous gold in bedrock.
The exploration target at Makuru is a gold bearing skarn hosted vein system similar to AnglogoldAshanti's 5.2 million ounce Navachab gold mine located 90 km to the southwest and TEAL Exploration & Mining Inc.'s 0.95 million ounce Otjikoto gold deposit located 150 km to the northeast of Makuru. Teck Cominco has recently completed a RC drilling program at the Vredelus property, located adjacent to and immediately to the east of Makuru (results are still pending).
Chris MacKenzie, M.Sc., C.Geol., Helio's Executive Chairman and a Qualified Person as designated by NI 43-101, will supervise the sampling and quality control programs at Makuru and has reviewed the technical content of this news release.
On behalf of the Board,
"Ian Foreman" Ian Foreman, P.Geo.
President
For additional information on Yale Resources please contact the Company at 604-678-2531 or to be added or removed from our e-mail list through info@yaleresources.com.
For investor relations please call Contact Financial at 604-689-7422
The TSX Venture Exchange has not reviewed and does not accept 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.
Yale Resources Ltd.