NEWS out !!!GlobeinvestorGOLD.com Company News Alert for Yale Resources Ltd.
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Yale Completes Geophysics Program at Los Amoles - Partner Commits to Next Term of Agreement
Business Wire
VANCOUVER, British Columbia (Business Wire) -- Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB) is pleased to
report a geophysics program has finished at the Los Amoles Property
located in central Sonora State and that our partner, Sonora Resources
Corp. has committed to the next term of the Agreement with Yale by
issuing to Yale an additional 200,000 shares in Sonora Resources
(SURE-OTC). Yale now owns 400,000 shares in Sonora Resources.
The recently completed geophysics consisted of both IP and magnetic
susceptibility covering a nine (9) square kilometer area with 28 line
kilometres of grid. Initial results appear encouraging; however final
results and report are expected in approximately two weeks.
In addition, 124 rock samples were taken from historic workings,
mineralized dumps and outcrops. Samples have been submitted to
Inspectorate Labs' preparation facility in Hermosillo. Results are
expected in approximately three weeks.
About the Los Amoles Property:
The early stage wholly owned 16.3 square kilometre Los Amoles Property
is located approximately 150 kilometres northeast of the Hermosillo,
Sonora State, Mexico. The property is 10 kilometres northeast of the La
Caridad Mine, operated by Grupo Mexico, which is one of the largest
mining and processing complexes in Mexico.
Sonora Resources Ltd. (previously Nature's Call) has an option to earn a
70% interest in the property by paying to Yale US $ 50,000 (received),
spending US $ 900,000 on exploration expenditures and issuing 1,000,000
shares (400,000 have been received) to Yale over three years.
Work performed to date by Yale has concentrated on an area (the Rosales
area) that is on the south eastern edge of a 4.0 by 2.75 km regional
magnetic anomaly. Yale's interpretation is that the Rosales area
represents silver-lead +/- gold veins that are distal to a porphyry
system. The potential for this regional anomaly to reflect a buried
porphyry has yet to be tested. Many of Sonora's most significant
porphyry deposits are located within 70 km of the Los Amoles property.
Samples from Los Amoles were prepared and analyzed by IPL Inspectorate
in their facilities in Mexico and Vancouver, respectively. Samples
generally consisted of 1-3 kg of material. Gold and silver analyses were
performed by 30 gram fire assay with an AA finish. Samples with greater
than 100 g/t silver were re-assayed using gravimetric methods.
Ian Foreman, P.Geo., is Yale Resources' Qualified Person, as defined by
National Instrument 43-101. The Los Amoles property is an early stage
project that requires additional sampling and geological mapping to
fully determine the project's potential.
On behalf of the Board,
"Ian Foreman"Ian Foreman, P.Geo.President
For additional information on Yale Resources please call the Company at
604-678-2531.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts 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.Ian Foreman604-678-2531