Company Maker Material - Very serious Very good news - just what we needed and should put Yale back "in play". It appears the new Yale acquisition (news after close today “Yale Acquires New Gold/Silver Project In Sonora, Mexico”) is substantial and holds the potential to be a serious “company maker”. Here is some info on the Orofino property that is public info found on Sedar and at third party public sources:
These areas have been worked for high grade gold in the past and the vendors of the property have heap leached approximately 60,000 tonnes of broken mineralized material that was reported to have contained approximately 7.0 g/t gold giving clear indication of the potential of the project area.
Prior drilling by others beneath the pit encountered 3.89 g/t gold and 2.54 g/t silver over a true thickness of 8.0 metres including: a hole drilled 50 metres north of the La Perla Pit intersected 7.6 metres averaging 2.54 g/t gold and 71.3 g/t silver within altered andesite; plus drilling on the Creston Fault Zone encountered gold up to 1.0 g/t over zones approximately 10 metres wide. Also channel samples in the El Gato Area of highly altered rocks, are reported to have returned assays of over 50.0 g/t gold.
Also a high grade sample was taken from a separate structure some 1400 metres from the La Perla Pit grading 14.55 gpt gold and 142 gpt Silver. The other two grabs taken, produced much lower values at 0.43 gpt Au and 15.7 gpt Ag and 0.132 and 14.8gpt Ag respectively. All four of these grabs should be considered speculative in nature, but are indicative of some of the potential for the project area.
Each of these areas is one to two kilometres distant from the others. The work to be initiated next week will include the El Gato (the Cat) area located 1 kilometre east of the La Perla pit, where Teck drilled a single R/C hole in 1993 that intersected 12.2 meters of 2.71 gpt gold within a significant colour anomaly. The results of this hole have only recently been obtained and are not believed to have been broadly known. Other significant intercepts by Teck included 7.6 metres grading 2.54 gpt Gold, plus 73 gpt Silver approximately 50 metres north of the La Perla Pit, which also requires follow up. Teck dropped the Orofino project subsequent to the 1993 program as gold prices declined and much of their reconnaissance work was never followed up.