NewswireToday - /newswire/ -
New York, NY, United States, 2008/05/07 - Yale Resources Ltd (TSX-V: YLL) (YRLLF.PK) (YAB.F) drill program progress report this last week confirms significant potential with each of nine drill holes having intersected target, a breccia - of which contents are visually similar to surface.
Precious Metals Review of Yale Resources Ltd provides insight into the opportunity afforded investors as Yale reports on the progress of gold-silver target drilling on their Urique Project in Mexico. Precious The drill program progress report this last week confirms significant potential with each of nine drill holes having intersected target, a breccia - of which contents are visually similar to surface exposure, in each hole. With the drilled Cero Colorado target at Urique North being proved to have similar mineralization at depth as at surface, the potential to define a significant deposit becomes increasingly probable.
Excerpts: “With nine holes completed, the drill core reveals they have hit the target, a breccia - of which contents are visually similar to surface exposure, in each hole. Now with the drilled Cero Colorado target being proved to have similar mineralization at depth as at surface, the potential to define a significant deposit becomes increasingly probable - assay results from the lab are expected to follow within the month according to Company President Ian Foreman, P.Geo. The drill campaign at Cerro Colorado covered 2 km of strike length and connects two previously mined areas; Mina Guadalupe, with surface samples of 5.46 g/t gold and 36.0 g/t silver over 9.1m and El Vergel, which returned grades of 2.23 g/t gold and 150.0 g/t silver over 3.0 m. ... Yale’s drills are now moving further to the south onto their San Pedro target – an area where Yale assayed surface samples of 27 g/t gold and 482 g/t silver in addition to a vein that is 1.1 meters in thickness that graded 35.3 g/t gold and 400 g/t silver. ... Additionally Yale has identified numerous quality targets on the Urique Project including the El Rosario target, which sampling yielded significant values as much 10.6 g/t gold and an astounding 8,290 g/t silver from a 10-40 cm wide veins.
"The Urique Project is in close proximity to neighbouring large established resource laden gold and silver projects that share the same stratigraphy located in the highly prolific Sierra Madre Gold Belt, bordering Goldcorp's El Sauzal Mine (2.1M oz Au) to the south and Kimber Resources' Monterde Mine (0.8M oz Au, 45M oz Ag) to the north, each relating 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 Mexico: including Mulatos (Alamos Gold), Dolores (Minefinders), Ocampo (Gammon Lake), Pino Altos (Agnico Eagle), as well as Palmarejo (Couer D’Alene-recently purchased for one billion dollars). "
"Yale Resources also has other key projects in Mexico including their 100% owned La Verde Project which hosts six known historical deposits of copper, silver, zinc and gold that have seen limited production. The largest is Yale’s La Verde Grande Mine site where Yale's 2007 geological mapping and sampling program has shown the deposit to be larger than historic data indicated. Yale has averaged 1.54% copper, 57.9 g/t silver, 1.32% zinc and .12 g/t Au from 181 samples taken over 500 meters of workings; Yale has duplicated old assay results with great success in various areas of La Verde, currently has geologists in the field conducting ongoing geological mapping and sampling, and believes the potential exists for a multi-million tonne Ag-Au-Cu-Zn open-pit mine."
"Under the Radar & Undervalued; With less than 35M shares issued and trading under CDN$0.25, the current market cap of YLL.V relative to its portfolio of highly prospective advancing projects makes Yale Resources an exceptional risk-reward scenario..."