more great newsYale, Helio identify two more anomalies at Leicester
Yale Resources Ltd (TSX-V:YLL)
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Last Close 4/20/2005 $0.165
Thursday April 21 2005 - News Release
Also Helio Resource Corp (TSX-V:HRC) News Release
Mr. Ian Foreman of Yale reports
A SEVEN KM LONG GEOPHYSICAL ANOMALY IDENTIFIED AT THE LEICESTER PROPERTY, NAMIBIA
Yale Resources Ltd. and Helio Resources Corp. have identified a new seven-kilometre-long induced polarization geophysical anomaly and a coincident extensive copper-in-soil anomaly within the seven-by-three-kilometre Rehderstal target area of the Leicester property, Namibia.
The 60,000-hectare (or 600-square-kilometre) Leicester property is located approximately 350 km northwest of the capital city of Windhoek. The property is road accessible and a 330-kilovolt power line passes through the northeast corner.
This most recent work adds considerably to the company's confidence in the merits of the property as these new data coincide with previously identified anomalies. The central Rehderstal target now consists of the following:
a seven-kilometre-long chargeability IP anomaly;
an eight-kilometre-long copper-in-soil anomaly along the fault;
a seven-kilometre-by-four-kilometre copper-in-stream-sediment anomaly (2,449 samples covering 88 square kilometres);
a seven-kilometre-by-three-kilometre magnetic anomaly;
a Landsat iron oxide anomaly;
a widespread copper-in-soil anomaly covering the central portion of the above anomalies;
local drilling (from 1970) testing three select multiper-cent-copper showings in the fault zone with the best hole returning 19.3 metres of 1.53 per cent copper and 35 grams per tonne silver; and
selected follow-up sampling (2003) from three separate locations over the eight-kilometre length of the fault zone giving four metres of 6.47 per cent Cu, six metres of 2.48 per cent Cu and 10 metres of 3.72 per cent Cu.
The recent IP and soil sampling surveys cover a nine-by-three-kilometre grid area using 400-metre line spacing and 50-metre sample spacing. The Rehderstal target is located immediately south of a jog in the Rehderstal fault -- a regionally recognized structure. The host rocks are sheared 2.0 Ga granitic basement rocks and variably brecciated volcanic and sedimentary units. A map of these new anomalies is available on the company's website. The two IP anomalies are as follows:
The main anomaly is seven kilometres long and up to one kilometre across and has a similar arcuate shape as the fault, which is located up to 500 m to the north.
A second zone of anomalous IP chargeability is located to the north of the main anomaly and covers an area of 2,000 m by 500 m. This second zone is open to the east.
Both IP anomalies are adjacent to the known copper occurrences discovered by Falconbridge in the 1960s and are new targets that have never been drill tested.
The IP anomalies are adjacent to and locally coincident with anomalous copper-in-soil geochemistry. A number of anomalous zones (copper greater than 20 parts per million compared with a background of copper less than 10 parts per million in a sample population of over 1,040 samples) were discovered during the recent work, and these appear to link the known mineralized copper occurrences to the newly discovered IP anomalies.
The recently completed program also included geological mapping and petrographic studies in the area to assist in understanding the controls on mineralization. The petrographic studies indicate that the rock units underlying the IP anomaly contain a variety of copper minerals including chalcopyrite, bornite, chalcocite and digenite, together with malachite and chrysocolla. Mineralization at Leicester is associated with magnetite, haematite and pyrite.
The next phase of work will include more detailed geological mapping and geophysical surveying within the recently discovered anomalies followed by drill testing.
About Namibia
Namibia is located on the southwestern coast of the African subcontinent and with a surface area of 824,268 square kilometres; it is about 90 per cent the size of British Columbia. Fieldwork is possible year-round as the country has at least 300 days of sunshine per year. The country is politically stable and the official language is English. As a testament to this, all of the majors are either exploring or at some point have explored in Namibia -- currently mines for gold, uranium and base metals are in production.
The Leicester property is under option from Helio Resource Corp. who will be the operator of the project for the first year. Chris MacKenzie, a chartered geologist and Helio's executive chairman, is the project's qualified person as designated by National Instrument 43-101. He is directly responsible for overseeing all aspects of Helio's exploration activities, including sampling integrity and the implementation of quality control programs