Yorbeau Reports Remaining Assay Results from the LAC Gamble Drilling Program ON the Rouyn Project, Quebec; Drilling Underway ON Astoria
YORBEAU RESOURCES INC.
110 Place Crémazie, Suite 503, Montréal, QC, H2P 1B9
www.yorbeauresources.com
PRESS RELEASE
FOR IMMEDIATE RELEASE
YORBEAU REPORTS REMAINING ASSAY RESULTS FROM THE LAC GAMBLE
DRILLING PROGRAM ON THE ROUYN PROJECT, QUEBEC;
DRILLING UNDERWAY ON ASTORIA
Montreal, Quebec, August 20, 20 20 – Yorbeau Resources Inc. (TSX: YRB) ( “Yorbeau” or the
“Company”) is pleased to report that its partner IAMGOLD Corporation ( “IAMGOLD”) released today
remaining assay results from its 2020 exploration diamond drilling program completed on the Lac Gamble
Zone at the Rouyn project. The project is located 4 km south of Rouyn- Noranda, Quebec, and
approximately 45 kilometers southwest of IAMGOLD’s Westwood operation.
IAMGOLD is reporting assay results from the remaining twelve (12) diamond drill holes, totaling 4, 062
metres completed as part of the winter 2020 drilling program. Drilling activities have also resumed on the
Astoria area, located approximately two kilometres east of the Lac Gamble zone, and assays will be
reported when received, validated and compiled.
The assay results reported herein are provided in Table 1 below and include the following highlights
(A longitudinal section illustrating the drilling program on the Lac Gamble is attached to this news release):
Lac Gamble Zone - Main Zone:
• Drill hole GA-19-761: 4.1 metres grading 10.4 g/t Au
And: 2.0 metres grading 7.8 g/t Au
includes: 1.0 metres grading 12.5 g/t Au
• Drill hole GA-20-768: 8.9 metres grading 4.3 g/t Au
includes: 2.0 metres grading 15.1 g/t Au
• Drill hole GA-20-769: 7.4 metres grading 8.3 g/t Au
includes: 1.0 metres grading 46.3 g/t Au
In a separate press release on the current results, Craig MacDougall, Senior Vice President, Exploration
for IAMGOLD, stated: “Despite the infill drilling program being interrupted as a result of a suspension of
activities due to the COVID -19 crisis, a significant part of the program was successfully completed and I
commend the efforts of the exploration team who adapted to these unique circumstances. With the results
from the program now in hand, we are working to update our deposit model to support a future initial
resource estimate for the Lac Gamble zone. Drilling has also resumed at Astoria to assess the resource
potential of this area.”
The objective of the diamond drilling program on the Lac Gamble Zone was to continue a systematic infill
drilling program at nominal 50 x 50 metre dri ll centres in the upper part of the zone to support a future
resource estimation. In addition, lateral extensions were also targeted to evaluate the potential to expand
the zone. The program was interrupted in March 2020 due to the suspension of all activities as directed by
the Government of Quebec in response to the COVID -19 crisis. As a result, several areas of the deposit
remain to be systematically delineated and a further phase of drilling may be required and will be assessed
for the next winter season.
YORBEAU RESOURCES INC.
110 Place Crémazie, Suite 503, Montréal, QC, H2P 1B9
www.yorbeauresources.com
The drilling program successfully intersected the targeted sheared Cadillac-Piché corridor, which hosts the
Lac Gamble mineralized zone. The zone is associated with alteration varying from several metres to greater
than ten metres in width, exhibiting variable carbonatization, fuchsite, silicification, crosscut by a network
of white quartz and brown tourmaline stockwork veins and breccias. Gold mineralization occurs as small
specks of visible free gold associated with minor sulphides in quartz-tourmaline veinlets.
Next Steps
The implementation of COVID -19 safety protocols has permitted exploration drilling and field activities to
resume after the temporarily suspension as directed by the Government of Quebec.
The remaining 2020 exploration program is designed to evaluate selected exploration targets in the area
of the historic Astoria deposit and adjacent targets with up to 5,000 metres of additional diamond drilling
planned. The objective of the program is to assess the continuity of mineralization for the potential to outline
a resource. Assay results of this program will be reported once they are all received, validated and compiled.
The assay results from the drilling programs will be integrated with the ex isting geological, geochemical
and structural information to support the development and refinement of a preliminary deposit model and
the completion of a future mineral resource estimation of the Lac Gamble zone.
About the Rouyn Project
The Rouyn Property is located about 4 km south of Rouyn-Noranda, Quebec. With a long history of mining,
the city of Rouyn-Noranda offers many advantages for mining and exploration, including political and social
stability, good access and infrastructure, skilled mining per sonnel, and one of the most mining- friendly
jurisdictions in the world.
The property covers a 12-kilometre stretch of the Cadillac-Larder Lake Break and contains four known gold
deposits along the 6- km Augmitto-Astoria corridor situated on the western por tion of the property. Two of
the four deposits, Astoria and Augmitto, benefit from established underground infrastructure and have been
the subject of technical reports that include resource estimates that were previously filed in accordance
with Regulation NI 43-101.
The Lac Gamble zone is located between the Augmitto and the Astoria deposits. The exploration target
potential at Lac Gamble is interpreted to be between 400,000 and 600,000 ounces of gold at a grade
between 7.0 and 8.5 g/t Au. The potential quantity and grade of the exploration targets referred to are
conceptual in nature and insufficient exploration work has been completed to define a mineral resource.
The property may require significant future exploration to advance to a resource stage and there can be no
certainty that the exploration target will result in a mineral resource being delineated. The exploration targets
are consistent with similar deposits in the area, deposit models or derived from initial drilling results.
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 C$4 million and
completing exploration expenditures totaling C$9 million over a four -year perio d. Exploration programs
must include the completion of a minimum of 20,000 metres of diamond drilling within the first two-years of
the option. By the end of the expenditure period, IAMGOLD must complete a NI 43-101 compliant resource
estimate, after which IAMGOLD, at its election, can purchase a 100% interest in the Project, subject to a
2% net smelter return production royalty, by paying Yorbeau the lesser of C$15 per resource ounce or
C$30 million. IAMGOLD is in the second year of the option agreement.
Technical Information and Quality Control Notes
The drilling results contained in this news release have been prepared in accordance with National
Instrument 43-101 Standards of Disclosure for Mineral Projects. Work at Yorbeau is carried out under the
supervision of Sylvain Lépine, M.Sc, P. Geo. He is a qualified person (as defined by NI 43- 101) and has
reviewed and approved the content of this release.
The design of the drilling program and interpretation of results is under the control of IAMGOLD’s and
Yorbeau’s geological staff, including qualified persons employing strict protocols consistent with NI 43-101
and industry best practices. The sampling of, and assay data from, the drill core is monitored through the
implementation of a quality assurance - quality control (QA-QC) program. Drill core (NQ size) is logged and
YORBEAU RESOURCES INC.
110 Place Crémazie, Suite 503, Montréal, QC, H2P 1B9
www.yorbeauresources.com
samples are selected by geologists and then sawn in half with a diamond saw at the project site. Half of the
core is retained at the site for reference purposes. Sample intervals may vary from half a metre to one and
a half metres in length depending on the geological observations.
Half-core samples are packaged and transported in sealed bags to AGAT laboratories in Val d’Or, Quebec,
and Mississauga, Ontario. Samples are coarse crushed to a -10 mesh and then a 1,000 gram split is
pulverized to 95% passing -150 mesh. AGAT prepare analytical pulps at their facilities located in Val -d’Or
and processed the pulps at their Mississauga laboratory which is ISO / IEC 17025:2005 certified by the
Standards Council of Canada. Samples are analyzed using a standard fire assay with a 50 gram charge
with an Atomic Absorption (AA) finish. For samples that return assay values over 3.0 grams per tonne,
another pulp is taken and fire assayed with a gravimetric f inish. Core samples showing visible gold or
samples which have returned values greater than 10.0 grams per tonne are processed with a protocol
involving fine grinding of the entire sample, followed by metallic screen analysis of the entire pulverized
material. Insertion of duplicate, blanks and certified reference standards in the sample sequence is done in
all drill holes for quality control.
About Yorbeau Resources Inc.
The Rouyn Property, wholly -owned by the Company, contains four known gold deposits in the 6- km-long
Augmitto-Astoria corridor situated on the western portion of the property. The Company signed a definitive
agreement in December 2018, whereby IAMGOLD has the option to acquire a 100% interest in the Rouyn
property, and a major drilling program is underway. Two of the four deposits, Astoria and Augmitto, benefit
from substantial underground infrastructure and have been the subject of technical reports that include
resource estimates and that were filed in accordance with Regulation 43-101. In 2015, the Company
expanded its exploration property portfolio by acquiring strategic base metal properties in prospective areas
of the Abitibi Belt of Quebec that feature infrastructure favourable for mining development. The newly
acquired base metal properties include the Scott Project, which bears important mineral resources (see the
press release dated March 30, 2017) and on which a positive Preliminary Economic Assessment was
recently completed.
For additional information on the Company, consult its website at www.yorbeauresources.com.
For further information, please contact:
G. Bodnar Jr. Sylvain Lépine, M.Sc, P. Geo
President, Chief Financial Officer Vice-President Exploration,
Yorbeau Resources Inc. Yorbeau Resources Inc.
[email protected] [email protected]
Tel: 514-384-2202 Tel: 819-277-0577
Toll free in North America: 1-855-384-2202
Forward-looking statements: Except for statement of historical fact, all statements in this news release,
including without limitation, regarding the prospects of the Rouyn project, drilling results, future plans and
objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance
that such statements will prove to be accurate; actual results and future events could differ materially from
those anticipated in such statements. Yorbeau disclaims any ob ligation to update such forward- looking
statements, other than as required by applicable securities laws.
YORBEAU RESOURCES INC.
110 Place Crémazie, Suite 503, Montréal, QC, H2P 1B9
www.yorbeauresources.com
Notes:
1. True widths of intersections are estimated at 70-90% of the core interval approximately.
2. Drill hole intercepts are calculated with a lower cut of 1.00 g/t Au and may contain lower grade interval of up to 3 metres in
length.
3. Assays are reported uncut but high grade sub-intervals are highlighted.
4. Drill holes with the suffix W are wedge cuts from previously drilled master holes.
Hole No. AZ DIP Depth /
length from To Interval True
Width (1) Au (2) (3) NOTE
Easting Northing Elevation (°) (°) (m) (m) (m) (m) (m) (g/t)
GA-19-709W3 644 395 5 339 907 3 067 154 -72 327.00 468.00 477.00 9.00 7.60 2.07 Main zone
Including (3) 473.00 475.00 2.00 1.69 5.05
537.40 538.40 1.00 0.85 2.05 Footwall zone
GA-14-635W 644 333 5 339 883 3 054 171 -75 294.00 457.25 458.55 1.30 1.02 1.57 Hangingwall zone
467.00 469.00 2.00 1.59 7.70 Main zone
GA-20-757 644 649 5 339 899 3 283 186 -66 380.30
GA-20-761 644 783 5 339 807 3 284 182 -70 271.10 186.00 190.10 4.10 2.86 10.40 Main zone
195.10 200.30 5.20 3.64 1.05
209.60 211.60 2.00 1.41 7.75
Including (3) 209.60 210.60 1.00 0.70 12.50
217.10 218.60 1.50 1.06 1.57
GA-20-762 644 371 5 339 768 3 288 183 -72 282.00 228.00 229.00 1.00 0.73 6.67 Main zone
235.30 240.30 5.00 3.65 1.16
GA-20-764 644 544 5 339 727 3 284 182 -66 192.00 139.00 140.00 1.00 0.73 2.34 Main zone
GA-20-765 644 493 5 339 782 3 288 183 -66 276.00 174.10 175.20 1.10 0.84 1.12 Hangingwall zone
211.60 215.60 4.00 3.16 1.76 Main zone
GA-20-766 644 846 5 339 932 3 283 138 -71 381.00 308.85 312.35 3.50 2.62 0.99 Hangingwall zone
320.30 324.10 3.80 2.86 3.87 Main zone
Including (3) 320.30 321.30 1.00 0.75 10.10
328.00 329.00 1.00 0.76 2.20
332.00 333.00 1.00 0.76 1.31
338.50 339.50 1.00 0.76 2.06
352.50 359.00 6.50 4.95 1.67 Footwall zone
GA-20-767 644 839 5 339 940 3 284 156 -70 390.00 352.00 354.70 2.70 1.98 1.56 Main zone
GA-20-768 644 788 5 339 920 3 284 183 -58 345.00 275.00 277.00 2.00 1.74 4.05 Hangingwall zone
285.70 294.60 8.90 7.77 4.34 Main zone
Including (3) 286.70 288.70 2.00 1.75 15.10
GA-20-769 644 823 5 339 936 3 284 184 -55 342.00 277.00 278.50 1.50 1.30 1.08 Hangingwall zone
293.70 301.10 7.40 6.49 8.31 Main zone
Including (3) 300.10 301.10 1.00 0.88 46.30
GA-20-770 645 036 5 340 201 3 280 182 -54 582.00 552.80 554.30 1.50 1.34 3.25 Main zone
562.00 564.40 2.40 2.15 3.20 Footwall zone
4062.40
Table 1 : Rouyn Project Drilling Results - 2020 Lac Gamble Drilling program
UTM NAD83 Zone 17
No significant results
YORBEAU RESOURCES INC.
110 Place Crémazie, Suite 503, Montréal, QC, H2P 1B9
www.yorbeauresources.com
Figure 1: Rouyn Gold – Lac Gamble zone longitudinal section and highlighted 2020 assay results