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Yorbeau Announces Beginning of 2020 Drilling Program with IAMGOLD at the Rouyn Project
Yorbeau Announces Beginning of 2020 Drilling Program with IAMGOLD at the Rouyn Project ...
About this update from Yorbeau Resources, Inc. Class A
[{"type":"text","content":"\n\n\n\nYorbeau Announces Beginning of 2020 Drilling Program with IAMGOLD at the Rouyn Project\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Jan. 14, 2020\n\n\n\nMONTREAL, Jan. 14, 2020 /CNW Telbec/ - Yorbeau Resources Inc. (TSX: YRB) (\"Yorbeau\" or the \"Company\") is pleased to announce that diamond drilling has commenced at its Rouyn property with its partner IAMGOLD Corporation (\"IAMGOLD\"). The Company signed a definitive agreement in December 2018, whereby IAMGOLD has the option to acquire a 100% interest in Yorbeau's Rouyn property in Quebec, Canada. \nIn accordance with the agreement, an initial cash payment in the amount of $1,000,000 and an interim payment of $500,000 were made by IAMGOLD to Yorbeau (press release of December 11, 2019). In order to earn the purchase option, IAMGOLD must make cumulative cash payments of C$4 million and fund C$9 million dollars of exploration expenditures over a 4-year period, including no less than 20,000 metres of diamond drilling within the first two years. A total of 19,966 metres were already drilled within the first year of the agreement.\nThe 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 exploration, including political and social stability, good access and infrastructure, skilled mining personnel, and one of the most mining-friendly jurisdictions in the world. The Rouyn Property covers a 12-kilometre stretch of the Cadillac-Larder Lake Break. The Astoria deposit already benefits from significant underground infrastructure including a 515 metre deep shaft and over 5 kilometres of lateral workings.\nTwo drill rigs have now mobilized to the property and a program of approximately 14,000 metres is planned. The initial focus of the program will be on the Lac Gamble zone with the objectives of converting exploration potential to mineral resources and of testing the possible extension of the zone to the west. The Lac Gamble zone remains indeed open to the west as indicated by the...