Yale has received indication from its La Verde Grade mine that a high-grade, potentially multi-million tonne resource may be present in its company owned property.
Mexico, United Mexican States (Press Release) November 26, 2007 --
Yale Resources (TSX.V: YLL) has received further indication from its past producing La Verde Grade mine that a high-grade, potentially multi-million tonne resource may remain in and around the historic workings on the company’s 100% owned property. Samples taken as vertical chip channel samples at intervals along the walls in the historic workings returned high-grade assays with a weighted average of 2.57 per cent copper (Cu), 86.8 grams per tonne silver (Ag), 0.97 per cent zinc (Zn) and 0.19 g/t gold (Au) over an average vertical height of 1.89 m.
Recently, several members of the Toronto investment community toured the La Verde project, together with Ian Foreman, P.Geo, President and Julio Lopez, the company’s Exploration Manager. The La Verde project is located 45 km northwest of Hermosilo, Sonora State, Mexico. Yale acquired this project almost four months ago at a cost of US $1.6 million payable over 27 months plus a 2% Net Smelter Return. The property has an historic resource estimate dating from 1989 (which do not comply with NI 43-101* rules) of some 459,000 tonnes grading 2.59% copper, 98.54 grams per tonne silver and 0.38 grams per tonne of gold. Yale is now making considerable progress on updating and expanding that resource.
There are at least five known deposits with historic workings on the property but the company presently has it sights set on the La Verde Grande Mine itself. Walking inside the old mine workings, the blue-green hues make the copper oxide mineralization quite evident. Mining operations at the turn of the 20th century, when the area was last properly mined, utilized steam powered machinery. These limitations meant that only the highest-grade ores were mined. With modern technology and elevated metals prices, Foreman and his backers believe that a wealth of mineable ore remains, long forgotten or undiscovered.
Yale has moved quickly on La Verde. According to Ian Foreman, “La Verde Grande is much bigger than we originally thought.” Yale has reexamined many of the old workings, and has taken some 200 channel samples from throughout the underground workings. Most of these are exploration drifts about two meters high by two meters wide. La Verde Grande appears to be a classic skarn-altered limestone with high grades of copper and associated silver, gold and zinc. “But there may be more to this than just a classic skarn” says Ian Foreman. Within the La Verde Grande Mine, there are four different levels, trending northeast. In addition there is an old working trending due east/west.
The walls of the old workings are covered in soot and bat guano. Some bats still fly through the old mine and give a new challenge to mine samplers and geologists. Yale Resources will try to liberate La Verde Grande mine workings from the bats and persuade them to find a new home.
The rest of the release: http://www.resourcexinvestor.com/news.php?id=3312
Recently, several members of the Toronto investment community toured the La Verde project, together with Ian Foreman, P.Geo, President and Julio Lopez, the company’s Exploration Manager. The La Verde project is located 45 km northwest of Hermosilo, Sonora State, Mexico. Yale acquired this project almost four months ago at a cost of US $1.6 million payable over 27 months plus a 2% Net Smelter Return. The property has an historic resource estimate dating from 1989 (which do not comply with NI 43-101* rules) of some 459,000 tonnes grading 2.59% copper, 98.54 grams per tonne silver and 0.38 grams per tonne of gold. Yale is now making considerable progress on updating and expanding that resource.
There are at least five known deposits with historic workings on the property but the company presently has it sights set on the La Verde Grande Mine itself. Walking inside the old mine workings, the blue-green hues make the copper oxide mineralization quite evident. Mining operations at the turn of the 20th century, when the area was last properly mined, utilized steam powered machinery. These limitations meant that only the highest-grade ores were mined. With modern technology and elevated metals prices, Foreman and his backers believe that a wealth of mineable ore remains, long forgotten or undiscovered.
Yale has moved quickly on La Verde. According to Ian Foreman, “La Verde Grande is much bigger than we originally thought.” Yale has reexamined many of the old workings, and has taken some 200 channel samples from throughout the underground workings. Most of these are exploration drifts about two meters high by two meters wide. La Verde Grande appears to be a classic skarn-altered limestone with high grades of copper and associated silver, gold and zinc. “But there may be more to this than just a classic skarn” says Ian Foreman. Within the La Verde Grande Mine, there are four different levels, trending northeast. In addition there is an old working trending due east/west.
The walls of the old workings are covered in soot and bat guano. Some bats still fly through the old mine and give a new challenge to mine samplers and geologists. Yale Resources will try to liberate La Verde Grande mine workings from the bats and persuade them to find a new home.
The rest of the release: http://www.resourcexinvestor.com/news.php?id=3312
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