Post by
jetstream on Nov 16, 2010 10:17am
NEWS
Mr. Ian Foreman reports
YALE REPORTS RESULTS FROM FIRST TWO HOLES AT GUADALUPE
Yale Resources Ltd.'s first two drill holes at the Guadalupe property located in Zacatecas state, Mexico, each successfully intersected multiple targets. These two holes are the first to be reported from the approximately 2,500 metre program that is currently underway at Guadalupe that is being performed by Yale on behalf of its partner Silver American Mining who are currently funding all work on the property.
The drilling has shown that mineralization can now be traced for greater than 300 metres down dip and that the veins are very consistent in width to that depth.
The following table presents highlight results:
Target From To Width(1) Au Ag AgEq(2)
(m) (m) (m) (g/t) (g/t) (g/t)
Drill hole No. 1 -- GPE1001
San Antonio vein 347.25 348.63 1.38 0.24 80.2 95.8
La Esperanza vein 350.15 350.85 0.70 - 60.5 60.5
Drill hole No. 2 -- GPE1002
Santa Rosa vein 281.30 283.55 2.25 0.60 69.8 108.7
including 282.65 283.55 0.90 1.03 54.0 121.0
Marcos de Oro vein 293.05 294.25 1.20 0.93 19.3 79.8
(1) Drill holes were planned to cut the mineralization as close to
perpendicular as possible, however, true widths have not been
determined at this time.
(2) Silver equivalent has been calculated using $1,300 per ounce gold
and $20 per ounce silver (or a ratio of 65:1) and assumes
recovery and net smelter royalty to be 100 per cent.
About the Guadalupe Property:
The Guadalupe property contains two historically significant mines and is located in one of Mexico's oldest mining districts, roughly 9 kilometres north of the Fresnillo (Proaño) Mine, the world's richest underground silver mine, operated by Fresnillo plc. Roughly 11 kilometres to the southwest of the Guadalupe Property is the Juanicipio Joint Venture between 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 1980s.
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 1% copper, lead and/or zinc are re-analyzed using their ore grade analysis. 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.
? 2010 Canjex Publishing Ltd.
Comment by
macman20 on Nov 16, 2010 2:03pm
I'm surprised SILA hasn't dropped at least 20% on this news, especially on a day when everything is getting sold, very crummy results imo.