The Rouyn property covers a 12-kilometre stretch of the Cadillac-Larder Lake Break, one of many main fault zones in Quebec’s Abitibi area, and has a complete space of practically 27 sq. kilometres.
As a result of its dimension, the property is split into a number of main blocks, two of which has had important exploration prior to now with a mixed NI 43-101-compliant gold useful resource of over 70,000 oz. Latest exploration by Kinross Gold additionally highlighted the potential of an extra 1.7 million oz., although this determine requires additional exploration to verify.
“The Rouyn property is an excellent alternative. We’re centered on Quebec, being ranked as one of many world’s most tasty mining funding jurisdictions, and it’s obvious that the Yorbeau crew has outlined a substantial mineral endowment with clear potential to quickly enhance in dimension,” commented Matthew Keegan, chairman of Lac Gold.
Following the sale of the Rouyn mission, Yorbeau will now concentrate on exploration and pre-development actions at its different properties. “The Yorbeau exploration crew will now have the required funds to speed up exploration on key goal websites,” stated G. Bodnar Jr., president and CFO of Yorbeau.
A important focus would be the Scott Lake zinc-copper deposit close to Chibougamau. The mission includes three 100%-owned blocks with a mixed useful resource of three.6 million tonnes grading 0.95% copper and 4.17% zinc within the indicated class and 14.3 million tonnes grading 0.78% copper and three.19% zinc inferred.
Shares of Yorbeau Assets shot up 37.5% by 11:30 a.m. ET on Wednesday, for a market capitalization of C$23.1 million.