Yorbeau Resumes Drilling at Scott Project to Locate Possible Extension of the Deposit WEST of the Gwillim Fault.
YORBEAU RESOURCES INC.
110 Place Crémazie, Suite 430, Montréal, QC, H2P 1B9
www.yorbeauresources.com
PRESS RELEASE
FOR IMMEDIATE RELEASE
YORBEAU RESUMES DRILLING AT SCOTT PROJECT TO LOCATE POSSIBLE
EXTENSION OF THE DEPOSIT WEST OF THE GWILLIM FAULT.
Montreal, January 29, 2019 – Yorbeau Resources Inc. (TSX: YRB) (" Yorbeau" or the " Company") is
pleased to announce that diamond drilling has commenced at its Scott project in the Chibougamau area of
Quebec.
The Scott p roject contains a number of zinc-copper -gold-silver massive sulphide and stringer sulphide
zones located in northwestern Scott Township. Based on a Preliminary Economic Assessment (PEA)
completed in late 2017 by Roscoe Postle Associates (RPA), t he project represents an opportunity to
develop an operating mine located within close proximity to the towns of Chibougamau and Chapais, a
typical northern mining environment, offering the advantages of living facilities and availability of
manpower, equipment and materials required to develop and operate the p roject. The p roject site has
existing access and can be serviced with available hydroelectric power from the provincial grid located
nearby. Results of the PEA indicate positive economics with a pre- production capital expenditure of $215
million, a net pre -tax cash flow of $519 million, an Internal Rate of Return (“IRR”) of 16.6%, a pre -tax
Net Present Value (“NPV”) of $146 million at an 8% discount rate, and a mine life of 15 years.
While the PEA contemplates extraction of 12 million tonnes (Mt) at grades of 4.14% Zn, 0.81% Cu, 27
g/t Ag, and 0.24 g/t Au over 15 years of mine life, t he RPA report also highlights that exploration
potential exist to increase Mineral Resources and, based on the significant amount of drilling already done
on the Scott deposit, one of the main areas of potential for increasing resources is west of the regional
Gwillim Lake fault, at depth. Recent structural interpretation suggests that the CFO Lens and smaller high
grade massive sulphide zones may in fact represent structural “rafts” caught within the fault corridor, and
which may have been dragged into the northeast trending fault corridor from an unknown source. If this is
the case, interpretation work suggests that t he primary source of those rafts may be located at depth, west
of the fault, and south of the known Scott mineralized corridor. Company management considers that t his
target represents tremendous potential upside for the project, and the on-going surface drilling program is
designed to test this.
The program is planned in two phases tota lling about 5,000 metres of drilling consisting of shallow holes
to investigate actual displacement of the Gwillim fault, followed by deep holes and wedge-cuts to explore
the Scott horizon down-plunge from the known resources (Figure 1).
Gérald Riverin, Company president commented: “We are excited to be drilling again at the Scott project.
While the initial Preliminar y Economic Evaluation was positive, success in the on -going program could
be a real game changer for the project, not only because of the potential added tonnage or grade of the
resources, but most importantly because the added tonnage could perhaps justif y sinking a production
shaft which could help increasing production rate while reducing unit costs. In the meantime, discussions
are on-going with potential partners to advance the project.”
YORBEAU RESOURCES INC.
110 Place Crémazie, Suite 430, Montréal, QC, H2P 1B9
www.yorbeauresources.com
Work at Yorbeau is carried out under the supervision of Gérald Ri verin, Ph.D., P. Geo. He is a qualified
person (as defined by NI 43-101) and has reviewed and approved the content of this release.
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 and Ontario that feature an infrastructure
favourable for mining development. The newly acquired bas e 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:
Gérald Riverin, PhD, P. Geo G. Bodnar Jr.
President, Yorbeau Resources Inc. Vice-President, Chief Financial Officer
Yorbeau Resources Inc. Yorbeau Resources Inc.
[email protected] [email protected]
Tel: 819-279-1336 Tel: 514-384-2202
Toll free in North America: 1-855-384-2202
Forward-looking statements: Except for statement of historical fact, all statements in this news r elease,
without limitation, regarding cash payments to be made by IAMGOLD and 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 obligation to update such forward-looking
statements, other than as required by applicable securities laws.
VENT RAISE RAR
PORTAL
RAMP FROM SURFACE
INTERNAL RAMP
VENT
RAISE
(FAR)
VENT RAISE
SELCO ZONE
800 ZONE
INTERNAL RAMP
GAP ZONE
CFO ZONE
34 ZINC ZONE
STRINGER RHYOLITE
ZONE
INTERNAL RAMP
Source RPA, 2017.
2000W
1500W
1000W
500W
0E
500RL
0RL
-500RL
1500W
1000W
WEST LENS
ELEVATION DEPTH
0m
250m
500m
750m
1000m
High potential to increase resources!!!
Figure 1. Jan 29, 2019
TARGET
Gwillim Fault
Yorbeau Resources Inc.
Scott Lake project
1RUWKHUQ4XpEHF&DQDGD
Longitudinal Section of
Ramp Option (looking north)
DRILLING TARGET
West of Gwillim Lake Fault
CENTRAL ZONE
VENT RAISE RAR
LEGEND
Conceptual stopes in PEA
0500
metres