2012-10-30 13:07:26 -
Vancouver, British Columbia CANADA, October 30, 2012 /FSC/ - Yale Resources Ltd. (TSX-V - YLL, OTCBB - YRLLF, and FSE - YAB),is pleased to report that a phase one work program performed on behalf of the optionee Overlord Capital Corp. has successfully confirmed multiple gold-silver soil anomalies as well as a trench over 25 metres averaging 0.67 g/t gold within the Orofino Project, located in Sonora State, Mexico.
The work program consisted of first-pass soil sampling over the El Gato and Koala Targets as well as limited trenching within the San Francisco Target. The soil sampling at El Gato and Koala confirmed +300 metre long multi-element anomalies that remain open in several directions.
The trenching at San Francisco was designed
as follow up on initial chip sampling that returned narrow high grade intervals from outcrop of up to 2.70 g/t gold and 529.8 g/t silver over a length of 2.1 metres (see news release dated June 28, 2010). At San Francisco there is 30 to 40 metre wide zone of strong oxidation centred on a 5 to 6 metre wide core area of strong silicification and veining. It has been traced in the field for 300 metres along strike and remains open in both directions. This trenching confirms the potential for the zone to contain a 'bulk tonnage' style gold-silver target.
The results from two trenches, spaced approximately 150 metres apart, are given below:
Sample # Width Au(g/t) Ag(g/t)
819305 1.8 0.20 30.9
819306 1.5 0.21 49.5
819307 1.5 0.16 46.9
819308 1.0 0.26 48.6
819309 1.0 0.12 10.7
819311 1.7 0.11 14.8
Weighted 8.5 0.17 33.49
Sample # Width Au(g/t) Ag(g/t)
819314 2.5 0.46 20.8
819315 2.5 0.68 22.8
819316 2.5 0.47 16.1
819317 1.0 0.74 26.4
819318 1.0 0.35 18.6
819319 1.0 0.29 14.8
819321 2.5 1.46 22.5
819322 2.5 0.43 12.7
819323 2.5 0.26 19.8
819324 2.5 0.56 3.4
819325 2.0 1.59 43.6
819326 2.5 0.58 17.8
Weighted 25.0 0.67 19.47
** Trench is open in both directions
The San Francisco target is on trend with the Quelitoso target (not currently part of the Orofino Project), located approximately 1.3 km to the west, as well as the Santiago Target (owned by Yale) located an additional 1.5 km to the west, which defines a mineralized trend measuring at least 3 km in length.
Of note at the San Francisco target is the lack of any evidence of previous modern exploration. Before this trenching program only reconnaissance-style sampling was known to have been done in this area.
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 $1.0 M in expenditures during 2012.
Ian Foreman, P.Geo., is Yale's Qualified Person, according to National Instrument 43-101, for the Orofino property and is responsible for any technical data mentioned in this news release.
Samples from Orofino were prepared and analyzed by IPL Inspectorate in their facilities in Mexico and Vancouver, respectively. Samples generally consisted of 1-3 kg of material. Gold analyses were performed by 30 gram fire assay with an AA finish. Silver, copper, lead and zinc were analyzed as part of a multi-element ICP package using an aqua regia digestion. Over limit samples with greater than 1% Cu, Pb and Zn were re-analyzed using ore grade detection limits.
On behalf of the Boards,
Ian Foreman, P.Geo.
President, Yale Resources Ltd.
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.
400 - 409 Granville St.
Canada V6C 1T2
News Release #12-10
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