newsYale cuts 0.70% Cu over five metres at Leicester
Yale Resources Ltd (TSX-V:YLL)
Shares Issued 14,838,046
Last Close 9/27/2005 $0.28
Wednesday September 28 2005 - News Release
Mr. Ian Foreman reports
ANOTHER NEW DISCOVERY AT LEICESTER INCREASES STRIKE LENGTH OF COPPER MINERALIZATION TO OVER 13 KM
Yale Resources Ltd. has made a new copper discovery at the Leicester property, located about 400 kilometres northwest of Windhoek, Namibia.
This new target, named Struthio, is located three kilometres west of the recently discovered Quest target (see news issued in Stockwatch on Aug. 30, 2005). As with Quest, copper mineralization at Struthio is hosted by sheared sedimentary units. The target area has a strike length of about 600 metres. Disseminated sulphide mineralization has been identified over a thickness of five metres. Both the width and strike extensions of the target are open under calcrete cover. Limited sampling has been conducted at Struthio and the initial results are encouraging -- two grab samples returned 0.43 per cent and 0.70 per cent copper. More systematic sampling and geologic mapping along the entire 600 metres of the Struthio target is planned as part of the continuing exploration at Leicester in order to prioritize targets for drilling.
Intermittent copper mineralization has now been confirmed over more than 13 kilometres of strike within the approximately 33 kilometres of the controlling structure, the Rehderstal fault that is within the 600-square-kilometre Leicester property.
Results from the quest discovery
The Quest discovery is located 1.8 kilometres west of previously known copper mineralization (anomaly G of the Rehderstal target). Mineralization at Quest is predominately made up of disseminated copper sulphides, mainly bornite, but also includes chalcopyrite, covellite, digenite and chalcocite.
Two continuous chip channel samples were collected over the mineralized zone, returning the following results:
Trench Interval Cu Ag
No. m % ppm
Quest Q1 12.0 0.74 3.5
Quest Q2 28.0 0.69 3.36
Including 14.0 0.94 4.79
Yale can earn up to 75 per cent in the Leicester property from Helio Resource Corp. by spending $2.9-million over four years and producing a bankable feasibility study over an additional three years.
Chris MacKenzie, MSc, Helio's executive chairman and a qualified person as designated by National Instrument 43-101, supervised the sampling and quality control program for this sampling program, and has reviewed the technical content of this news release. The samples were prepared at the Analytical Laboratories facility in Windhoek, Namibia, and assayed by ALS Chemex in Johannesburg, South Africa.
The Leicester property has excellent infrastructure as there is a paved highway as well as the national power grid passing through the property. Approximately 100 kilometres to the east is the rail head that leads to Tsumeb. Tsumeb is a historic copper district in Namibia and home to the country's only copper smelter.