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Yorbeau resumes drilling at Scott project to locate possible extension of the deposit west of the Gwillim fault
Yorbeau resumes drilling at Scott project to locate possible extension of the deposit west...
About this update from Yorbeau Resources, Inc. Class A
[{"type":"text","content":"\n\n\n\nYorbeau resumes drilling at Scott project to locate possible extension of the deposit west of the Gwillim fault\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. 29, 2019\n\n\n\nMONTREAL, Jan. 29, 2019 /CNW Telbec/ - 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.  \nThe Scott project 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), the 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 project. The project 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.\nWhile 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, the 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 w...