Yorbeau Resources Inc. (YRB-T): IAMGOLD Reports Drilling Results from the Astoria Area of the Rouyn Gold Project, Québec.
Event: Yorbeau announced assay results from the Astoria area drilling program on the Rouyn Project, Québec by IAMGOLD.
Impact: More than slightly positive. Drilling resumes on Lac Gamble area, among other. The undertaking of geotechnical drilling on Gamble suggests that the project is moving into a more advanced stage of appraisal, slowly but surely.
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Analysis
On March 3, 2021, Yorbeau reported drill results from IAMGOLD Corporation (IMG-T) fall 2020 drilling on the Astoria Zone at the Rouyn Gold Project in the Abitibi Québec. The Rouyn property covers a 12-km stretch of the Cadillac-Larder Lake Break and contains four known gold deposits along the 6-km Augmitto-Astoria corridor. Two of the four deposits, Astoria in the east portion and Augmitto in the west portion of the segment, benefit from established historical underground infrastructure and have been the subject of NI 43-101 resource estimates (880,000t @???7.31 g/t Au for 207,200 oz Au at Augmitto and 1,732,161t @ 5.22 g/t Au for 290,620 oz. at Astoria). The Astoria Target Area is located ~1 km east of the Lac Gamble Zone and 4 km south of Rouyn-Noranda, Québec, and notably ~45 km SW of IAMGOLD's Westwood operation.
Please see:?https://www.dhirubhai.net/pulse/yorbeau-resources-inc-yrb-t-drilling-results-from-rouyn-eric-lemieux/ and https://www.dhirubhai.net/pulse/yorbeau-resources-inc-yrb-t-rouyn-project-progressing-eric-lemieux/).
The objective of the drilling program we understand was to provide information to assess the potential of the historic Astoria deposit at depth. Priority targets proximal to the known mineralization below the West shaft were main focus and results suggest certain continuity of mineralization. Assay results from 11 diamond drill holes, totaling 5,950 m with 2 drill holes abandoned due to excessive deviation have an estimated grade x true thickness metric of 8.35 g/t Au x m.?Salient results from the Upper Piché Zone are: 2m @ 13.2 g/t Au (DDH AS-20-773A), 2.8 m @ 7.5 g/t Au (DDH AS-20-775), 7.6 m @ 9.7 g/t Au (DDH AS-20-775W); Lower Piché Zone: 2m @ 7.6 g/t Au (DDH AS-17-669W), 11.1 m @ 3.7 g/t Au (DDH AS-20-772); and Main Zone: 6.1 m @ 3.4 g/t Au (DDH AS-20-772), 14 m @ 3.4 g/t Au (DDH AS-20-776). These results shall be used to update the geological models and help guide future exploration programs in order to assess the mineral resource potential for this area.
The Upper and Lower Piché mineralized zones are associated with alteration varying from several metres to >10 mm in width, hosted within the ultramafic rocks of the Piché Group, exhibiting variable carbonatization, fuchsite, silicification and crosscut by a network of white quartz and brown tourmaline stockwork veins and breccias. The gold mineralization occurs as small specks of visible free gold associated with minor sulphides in quartz-tourmaline veinlets. The Main zone is located at the contact with the sedimentary sequence bordering the south contact of the Piché Group and is characterized by grey quartz veinlets containing rare visible gold and up to 10% disseminated to narrow massive bands of arsenopyrite. Occasionally similar mineralization is also observed exclusively hosted in sediments and is referred to as the Footwall zone.
Drilling has now resumed at Lac Gamble and shall include the completion of selected infill holes, as well as geotechnical drill holes to assess rock quality of the host rock units. A ~14,000 m diamond drilling program shall aim to further delineate the Lac Gamble and Astoria zones. The program may also include the evaluation of the resource potential of other selected targets, such as the Cinderella and Augmitto zones located further west of the Lac Gamble zone. The undertaking of geotechnical drilling on Gamble indicates that the project is moving into a more advanced stage of appraisal. IAMGOLD is working on the overall geological model that aims to standardize the geological interpretation of the entire property.
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Recall, IAMGOLD signed a definitive option agreement in December 2018, whereby IAMGOLD has the option to acquire a 100% interest in the Project by making scheduled cash payments totaling $4M and completing exploration expenditures totaling $9 M over a 4-year period. By the end of the expenditure period, the IAMGOLD is required to complete a NI 43-101 compliant resource estimate, after which it may elect to purchase a 100% interest in the Project, subject to a 2% NSR royalty, and by paying Yorbeau the lesser of $15 per resource ounce or $30M. IAMGOLD is currently in the third year of the option agreement.
Important Disclosures
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Yorbeau Resources Inc??????????????????????????
B????????????The Mining Analyst, in his own account or in a family related account, owns securities in excess of 10,000 shares of the issued and outstanding equity securities of this issuer.
V???????????The Mining Analyst has visited material operations of this issuer, namely company headquarters in Montréal.?
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R????????????This issuer has indirectly paid the Mining Analyst.
Update - June 17, 2021:
Yorbeau and IAMGOLD Resume Drilling on Rouyn Property With Primary Focus on Cinderella and Augmitto Deposits, Québec
On June 17, 2021, Yorbeau announced that diamond drilling has re-commenced at its Rouyn property with partner IAMGOLD Corporation. Yorbeau signed a definitive agreement in December 2018, whereby IAMGOLD has the option to acquire a 100% interest in Yorbeau’s Rouyn property. The Rouyn property is located ~4 km south of Rouyn-Noranda and covers a 12-km stretch of the Cadillac-Larder Lake Break with four known gold deposits along the 6-km Augmitto-Astoria corridor. The Astoria deposit (1,732,161t @ 5.22 g/t Au for 290,620 oz Au) in the east portion and Augmitto deposit (880,000t @ 7.31 g/t Au for 207,200 oz Au) in the west portion of the segment, benefit from established historical underground infrastructure and are notably located ~45 km SW of IAMGOLD's Westwood operation. (Again, please see:?https://www.dhirubhai.net/pulse/yorbeau-resources-inc-yrb-t-drilling-results-from-rouyn-eric-lemieux/ and https://www.dhirubhai.net/pulse/yorbeau-resources-inc-yrb-t-rouyn-project-progressing-eric-lemieux/).
Drilling different targets: A ~10,000m drill program is planned for completion by the end of the year with one drill rig currently in operation. The objective of the current drilling program is to test continuity of known mineralized zones to validate the potential to delineate mineral resources. The drilling program shall focus specifically on: i) Infill and exploration drilling at Cinderella to estimate the potential of 3 gold envelopes discovered by Yorbeau between 2008 and 2012 (DDH 10-CI-535 and 08-CI-464 returned respectively 33m @ 3.3 g/t Au and 7m @ 8.12 g/t Au). ii) Infill drilling at Augmitto to test the continuity of known mineralization zone where holes 06-S-413 and 06-S-412A returned 8.4m @ 26.02 g/t Au and 12m @ 4.53 g/t Au. iii) investigate possible exploration targets at Augmitto outside the area containing mineral resources (~700 m vertical depth). IAMGOLD has already completed in 2021 a drilling program in the Lac Gamble zone consisting of 7 drill holes for a total of 1,826m. Up to 3 holes were designed to test the west extension of the mineralized zone and 4 holes were designed to assess host rock quality. Results are pending.?
Update - September 16, 2021:
Yorbeau Resources Inc.?(YRB-T)
Yorbeau Reports Assay Results from the Lac Gamble Drilling Program on the Rouyn Gold Project, Québec; Drilling Underway on Augmitto - Cinderella Areas
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On September 16, 2021 Yorbeau reported that its partner IAMGOLD Corporation released assay results from its 2021 exploration diamond drilling program completed on the Lac Gamble zone at the Rouyn Gold project. The Rouyn property is located ~4 km south of Rouyn-Noranda and covers a 12-km stretch of the Cadillac-Larder Lake Break with four known gold deposits along the 6-km Augmitto-Astoria corridor. The Astoria deposit (1,732,161t @ 5.22 g/t Au for 290,620 oz Au) in the east portion and Augmitto deposit (880,000t @ 7.31 g/t Au for 207,200 oz Au) in the west portion of the segment. All benefit from established historical underground infrastructure and are notably located ~45 km SW of IAMGOLD's Westwood operation. (Please see:?https://www.dhirubhai.net/pulse/yorbeau-resources-inc-yrb-t-drilling-results-from-rouyn-eric-lemieux/ and https://www.dhirubhai.net/pulse/yorbeau-resources-inc-yrb-t-rouyn-project-progressing-eric-lemieux/).?
The drilling program at Lac Gamble targeted some selected areas for possible extensions, as well as to complete some initial geotechnical drill holes to assess rock quality: Yorbeau is reporting assay results 7 diamond drill holes, totaling 1,826 m completed as part of the winter 2021 drilling program on the Lac Gamble Zone. Recall Yorbeau signed a definitive agreement in December 2018, whereby IAMGOLD has the option to acquire a 100% interest in Yorbeau’s Rouyn property. Drill results from Lac Gamble - Main Zone have given 7.7 metres grading 2.5 g/t Au, including 3.5 g/t Au over 4.7 m (DDH GA-21-779); 5.0 metres grading 5.5 g/t Au (DDH GA-21-780); 3.2 metres grading 16.1 g/t Au, including 40.6 g1t Au over 1.2m (DDH GA-21-782).?We estimate an average grade x true thickness metric of 12.84 g/t Au x m. All drill holes successfully intersected the targeted sheared Cadillac-Piché corridor, which is associated with carbonatization, fuchsite, silicification alteration varying from several metres to >10 metres in width. This package is crosscut by a network of white quartz and brown tourmaline stockwork veins and breccias and gold mineralization occurs as small specks of visible free gold associated with minor sulphides in quartz-tourmaline veinlets.
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Results are said to be in line with IAMGold’s expectations: The diamond drilling program on the Lac Gamble Zone had 2 main objectives: 1) complete an initial geotechnical drilling campaign to collect preliminary data to assess rock quality of the host rock units with respect to an underground mining method; and, 2) test for potential extensions down plunge along the western boundary of the zone. The geotechnical drill program consisted of 4 holes for 720.5 m and the data obtained suggests favorable geotechnical conditions to support a potential underground mining development scenario. The expansion drilling program targeted potential down-plunge extensions to the west for which 3 diamond drill holes totaling 1,105 m were completed. Hole GA-21-782 has demonstrated the zone could extend further in its western extensions at depth. Drilling activities are currently progressing on the Augmitto and Cinderella areas, located ~ 1 to 3 km west of the Lac Gamble zone with a planned 9,000 m diamond drilling program in progress.
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