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Yale Resources Ltd. (TSX-V: YLL) (US Listing: YRLLF) is the subject of a recently published review by mining expert/journalist Bob Moriarty after a recent site visit to key projects of Yale Resources in Mexico. The review discusses near term mine potential and insight into drill program on gold-silver targets now underway.
Excerpts: 1) “In mid-2007, Yale agreed to pay $1.6 million for a 100% interest in the 300 hectare La Verde property. Ian has staked an additional 2,000 hectares surrounding the original La Verde project. ... The property has 5 known past producing deposits of silver, zinc, copper and gold. It has an historic resource of about half a million tons of over $200 rock. Yale has averaged 1.54% copper, 57.9 g/t silver, 1.32% zinc and .12 g/t Au over 181 samples taken over 500 meters of workings. ... Yale's team wants to increase the tonnage through drilling to around 2 million tons and then go into production. $200 rock is about the same as 5-6 g/t gold and it's not earthshaking. And 2 million tons is tiny. But the idea of putting this puppy into production is brilliant. ... I've said it before, I'll say it again, anyone not planning on production at these prices should be using the land for moose pasture, that's all it's good for. Yale still has a tight share structure. If Ian could get this into production, he could use the cash flow to finance further exploration. That's simply brilliant and what every junior should be striving for.”
2) “The Urique property is in the middle of the prolific Chihuahua-Sonora gold belt, bordered by the Goldcorp's El Sauzal 2.1 million ounce mine on the south and Kimber's 45 million ounce silver. 8 million ounce gold deposit on the north. ... Yale is at the stage where the rubber meets the road. Geophysics and surface mapping indicate a 2.5-kilometer long, 2 to 9 meters wide structurally-controlled breccia area hosting 2 sets of prior historical workings. The target is called the Cerro Colorado target and drilling began early this month. Chip samples returned grades of 2.2 g/t gold and 150 g/t silver over 3 meters and 5.46 g/t gold and 35 g/t silver over 9 meters from another zone. ... This is the sweet spot of investing when you are buying juniors. They are lottery tickets. It is gambling. But the best time to buy the tickets is just before the balls pop out. At least you know if you win or lose. Yale is in the midst of a 1500-meter program in 12-13 holes. Some holes are already in for assay and I'd expect results in 2-3 weeks. Should the drill results match the chip samples, Yale is going a lot higher and quickly...”
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