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New York, NY, United States, 2008/04/08 - A 1,500m drill program has begun on gold and silver targets. Yale Resources has now completed their first hole - the first hole has hit structure where they had anticipated in all their preparation - this corroborates their geological interpretation.
Mining MarketWatch Journal features details of a developing exploration story on Yale Resources Ltd’s (TSX VENTURE:YLL) Urique project in Mexico. A 1,500m drill program has recently begun; Yale is drilling under large highly mineralized surface zones with interesting gold-silver grades. The proximity of these gold and silver target areas relative to successful companies with enormous discoveries make this much anticipated drill campaign particularly exciting. The first hole has hit structure where they had anticipated from surface mapping, preparation and geophysics, this corroborates their geological interpretation and the core is off to the lab with results too follow and more holes are to be drilled with confidence now.
The Urique Project has a 1,500m drill program currently underway and the corporate release announcing the first drill hole completed has shed some insight into the technical success the Company is aiming for. Ian Foreman, P.Geo., President of Yale Resources, stated to Mining MarketWatch; "The first hole was just over 100m in length, there is an intersection - which is the breccia. This looks very similar in drill core as it does on surface, we now need to log it, sample it and send it in for assays. We hit the structure where we anticipated to hit it – so now we have definitive information that corroborates our geological interpretation – So we had surface mapping and an interpretation as to what would be going on underground, we had geophysics what we were believing was the case could be there and now that we’ve got our first drill hole we see that the system does at least to a 50 meter depth and indeed that there is an interval that appears to be as wide as on surface, so there seems to be some continuity down dip as well. What is interesting is that there is a much larger alteration halo around the mineralization than we had anticipated." ... "By having an intersection on our first hole it corroborates our geological interpretation and provides confidence on additional success in the drill program".
The Cero Colorado and the San Pedro gold-silver targets located in Urique North are subjects of Yale's planned drilling. The Cero Colorado structural target is defined over 2.5 km, Yale has traced the structure over the entire 2.5 Km, and within that they have 3 target areas (El Vergel, Mina Guadalupe North and South) that show consistently anomalous and good grades over a strike length of 150 – 250 meters.
Yale's Urique Project is a monstrous property in an area of enviable mineral inventory. Mining MarketWatch believes the science of “nearology” resonates loudly on Yale’s Urique Project; The Urique Project is in close proximity to neighbouring large established resource laden gold and silver projects that share the same stratigraphy. It is not unreasonable to expect Yale to have a major gold-silver find in its future considering what they already know of the surface grades, history, neighbours, location and size of Urique.
Yale's Urique Project, in the highly prolific Sierra Madre Gold Belt, boarders Goldcorp's El Sauzal Mine (2.1M oz Au) to the south and Kimber Resources' Monterde Mine (0.8M oz Au, 45M Ag) to the north. Yale has identified 10 quality targets at the Urique Project and taken several to drill-ready stage (drill campaign on now). Each of these targets is related to large mineralized hydrothermal systems that have the potential to host bulk mineable resources. Numerous plus-one million ounce gold deposits have been discovered in this 300 km long region of south-western Chihuahua: including Mulatos - Alamos Gold, Dolores – Minefinders Ltd., Ocampo - Gammon Lake, as well as the El Sauzal mine Glamis Gold, now part of Goldcorp Inc.
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