Yale Announces Additional Results from Guadalupe
YALE RESOURCES LTD YLL
8/16/2010 2:10:00 PM
VANCOUVER, British Columbia, Aug 16, 2010 (BUSINESS WIRE) --
Yale Resources Ltd. (TSX-V - YLL and Frankfurt - YAB) is pleased to announce additional positive results from the wholly owned Guadalupe property, located in the heart of the Fresnillo district, on behalf of partner Gold American Mining Inc.
Fieldwork continues to identify additional veins within the property -- as such several veins remain without names. To date nine veins have been mapped within the Guadalupe property. In certain locations the width of sampling was limited by the size of the workings and as such the true width of mineralization remains unknown. The highlights from the most recent sampling program are listed below:
Sample Location Type Width (m) Au (g/t) Ag (g/t)
--------- ----------------- ---- --------- -------- --------
1703 Veta Centenario Chip 0.6 0.97 282.0
--------- ----------------- ---- --------- -------- --------
1712 Veta San Augustin Chip 1.0 0.25 74.0
--------- ----------------- ---- --------- -------- --------
1718+21 Veta Santa Rosa chip 1.1 0.15 130.2
--------- ----------------- ---- --------- -------- --------
including 0.4 0.23 218.0
--------- --------- -------- --------
1731 Unnamed vein Chip 1.3 0.21 172.0
--------- ----------------- ---- --------- -------- --------
1732 Unnamed vein Chip 1.0 0.40 182.0
--------- ----------------- ---- --------- -------- --------
Several previously unknown historic shafts were also identified within the property. It is apparent that these shafts were sunk along strike from other workings as there are often no outcrops in the vicinity of the shafts. In these situations the mineralized dumps near those workings were sampled. The key results from those new dumps are listed below:
Sample Location Type Description Au (g/t) Ag (g/t)
------ ---------------- ---- ------------------------------------------- -------- --------
1701 Unamed vein Dump Sandstone with strong calcite veining 1.41 70.2
------ ---------------- ---- ------------------------------------------- -------- --------
1706 Veta Centenario Dump Ryolitic fragments and abundat quartz veins <0.03 138.0
------ ---------------- ---- ------------------------------------------- -------- --------
1707 Veta Centenario Dump quartz veins with strong iron oxide 0.09 230.0
------ ---------------- ---- ------------------------------------------- -------- --------
1715 Veta San Antonio Dump very oxidized sandstone with calcite viens 1.04 74.0
------ ---------------- ---- ------------------------------------------- -------- --------
1724 Unamed vein Dump silicified breccia with strong oxides 0.04 93.8
------ ---------------- ---- ------------------------------------------- -------- --------
Several exposures/workings that occur immediately off of the property were also sampled. These areas were sampled because the veins are known to continue onto the property, however there are no exposures immediately on the property side of the boundary. The following results are provided for reference only:
Sample Location Type Width (m) Au (g/t) Ag (g/t)
------ ------------------ ---- --------- -------- --------
1709 Veta Marcos de Oro Dump - 0.48 254.0
------ ------------------ ---- --------- -------- --------
1711 Veta Marcos de Oro Dump - 0.17 132.0
------ ------------------ ---- --------- -------- --------
1725 Veta San Antonio Chip 0.7 1.63 470.0
------ ------------------ ---- --------- -------- --------
1726 Veta San Antonio Chip 1.0 0.86 106.0
------ ------------------ ---- --------- -------- --------
1727 Veta San Antonio Chip 0.6 2.44 22.3
------ ------------------ ---- --------- -------- --------
About the Guadalupe Property:
The 282.84 hectare Guadalupe Property is located approximately 4 kilometres north of the city of Fresnillo, Zacatecas State, Mexico. The property is approximately 8 kilometres north of the Fresnillo (Proano) Mine, the world's richest underground silver mine operated by Fresnillo plc. The property is also approximately 11 kilometres northeast of the Juanicipio Joint Venturebetween MAG Silver Corp. and Fresnillo plc.
The Property contains greater than 20 known workings as well as two historic mines --Santa Rita and San Antonio. Historic records containing references to the Santa Rita and San Antonio mines suggest that both mines were important and reached their height of production between 1910 and 1920 but were last in production in the 1980's.
Highlight results from the first phase exploration program were (see news release dated May 13, 2010):
-- 1.00 g/t Au and 946.9 g/t Ag over 1.1m -- including 1.83 g/t Au and 1,800.0 g/t Ag over 0.5 m
-- 0.30 g/t Au and 622.0 g/t Ag from a mineralized dump
-- 0.59 g/t Au and 330.0 g/t Ag over 0.7 m
-- 5.35 g/t Au and 1,189.0 g/t Ag from a mineralized dump
About Yale Resources:
Yale Resources is an exploration and development company concentrating in northwestern Mexicothat is building value through project generation. Yale has three of its properties optioned out to value added partners. These agreements combine for minimum commitments of approximately US $1,250,000 of exploration expenditures over the next 12 months. Yale continues to work on its non-optioned properties as well as reviewing new projects.
Samples from the Guadalupe property were prepared and analyzed by Stewart Labs in their facilities in Mexico and Kamloops, 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, for the Guadalupe property. The Guadalupe property is an early stage project with no reported resources that requires additional sampling and geological mapping to fully determine the project's potential.
On behalf of the Board,
"Ian Foreman"