bwire
VANCOUVER (Business Wire) -- Yale Resources Ltd. (TSX-V - YLL, Pink Sheets: YRLLF, and FSE - YAB) is
pleased to provide an update on its on-going exploration activities in
Mexico.
Sonora Resources Ltd. has committed to the second year of the option for
the Los Amoles silver property and Yale has received an additional
200,000 shares of Sonora Resources. The second year's commitment at Los
Amoles is US $300,000 in expenditures. A work program that will
concentrate on sampling a number of the main underground workings in
order to trace the continuation of the silver rich veins to depth is
currently underway. This is an important step to define the potential
for the veins in advance of a drill program expected in 2012.
Work is also underway at the Urique gold/silver property where
confirmation sampling and mapping is being conducted in anticipation of
additional work to be undertaken in 2012.
Drilling at the Dos Naciones copper/silver/gold property has concluded.
It was successful in confirming the high potential for multiple skarn
targets. The work was done on behalf of optionee Del Toro Silver Corp.
Drilling in the strongly altered and fractured ground proved very
difficult and each of the three holes was terminated before reaching the
target depth due to technical reasons. Interesting visual oxide and
sulphide mineralization was encountered in all three shortened holes and
38 core samples were collected. As a result, Yale will be recommending
additional drilling with a larger, more powerful drill.
Field work at Dos Naciones was successful in identifying several
previously unknown historic workings - one below the La Espanola target
where the first two holes were drilled and one to the east of the Dos
Naciones target where the third hole was drilled. A total of 46 samples
were taken from these previously unsampled underground workings. Surface
and core samples have been sent to Inspectorate Labs and results will be
reported when received.
About Yale Resources:
Yale Resources utilizes the project generator business model to maximize
its exposure to discovery while minimizing shareholder risk. Yale
currently has eight projects in its portfolio of which six are optioned
out with commitments totalling approximately $1.5 M in expenditures
during the next 12 months. At the same time Yale continues to work on
its non-optioned properties as well as reviewing new projects.
Ian Foreman, P.Geo, is Yale's Qualified Person, according to National
Instrument 43-101, for the Dos Naciones, Los Amoles and Urique
Properties and is responsible for any technical data mentioned in this
news release.
On behalf of the Board,
"Ian Foreman"Ian Foreman, P.Geo.President
For additional information on Yale Resources please call the Company at
604-678-2531
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Statements in this press release, other than purely historical
information, including statements relating to the Company's future plans
and objectives or expected results, may include forward-looking
statements. Forward-looking statements are based on numerous assumptions
and are subject to all of the risks and uncertainties inherent in
resource exploration and development. As a result, actual results may
vary materially from those described in the forward-looking statements.
Yale Resources Ltd.Ian Foreman, 604-678-2531
