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The La Verde Project |   |
THE OTHER PROSPECTS
LA COBRIZA and SAN JOSE
A sampling program by the Consejo de Recursos Minerales in 1982 showed that there is skarn mineralization irregularly distributed over a strike length greater than 500 metres. Twenty five widely spaced chip channel samples from the various historic workings throughout this area ranged from 0.28 to 5.45 % copper, 0.15 to 8.60 % zinc, 3.90 to 578.00 g/t silver and 0.1 to 11.1 g/t gold (note: these samples are included for reference only as they are historical in nature due to them being collected before the creation of NI 43-101).
SAN LOUIS
San Louis is located approximately 100 metres along strike from La Verdesita. Historic records mention a 35 foot shaft with reported grades from the samples 5.61 % Cu and 725 g/t Ag. The same reports estimate that 75 tons of hand cobbled ore was taken from this zone returning an average of 8-10 % Cu.
LA SIERRITA
La Sierrita consists of 440 hectares adjoining the northeast corner of the La Verde Project. This addition to the La Verde Project covers a large porphyry target with anomalous copper, zinc and molybdenum values.
In 2000, Freeport McMoran drilled 8 RC/diamond drill holes over a six square kilometre area. This drilling loosely defined the La Sierrita quartz monzonite porphyry underlying an area four square kilometres in size. Each hole drilled into the La Sierrita Porphyry encountered copper, zinc, tungsten, and molybdenum mineralization over considerable widths.
THE LA VERDE GRANDE MINE
With the combination of high grade oxide mineralization that comes to surface over a majority of it's known strike length and excellent infrastructure, Yale Resources believes that the La Verde Grande deposit can be rapidly advanced towards production.
The La Verde Grande deposit continues to grow - with current dimensions measuring greater than 250 metres long, 50 to 70 metres wide, and 35 to 50 metres deep. The deposit remains open along strike.
Sampling by Yale throughout the approximately 600 m of workings on seven levels of the La Verde Grande mine returned a weighted average* of 1.54 % copper, 57.9 g/t silver, 1.32 % zinc and 0.12 g/t gold (* this includes non-mineralized intervals). Sampling of the six vertical shafts within the mine averaged 0.69 % copper, 22.0 g/t silver and 2.24 % zinc. Yale's goal is to calculate an average grade for the La Verde Grande deposit that is greater than 1% copper, 32 g/t silver, 1.5 % zinc and 0.1 g/t gold.
Annotated View of La Verde Grande
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Trenching has shown that eastern portion of the deposit comes to surface for over 200 metres - this greatly helps the potential economics of the deposit.
Historic Mining:
Original production took place in the early 1900's by the Hermosillo Copper Co. followed by small scale production in the 1960's and the 1980's. Historic mining was typical for the time as extracted mineralization was hand cobbled (high graded) which resulted in ore grading greater than 3% copper. A volumetric calculation of the mine workings shows that the total mineralization extracted from the deposit has been less than 20,000 tonnes -- approximately 8,000 tonnes of mineralization remains on surface in dumps that grade greater than 1% copper.
Picture of the Mine in Production
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The La Verde copper-zinc-silver-gold Project totals 2620 hectares and is located 45 km northwest of Hermosillo, Sonora State, Mexico.
Included in the property is the La Verde Grande Cu-Zn-Ag-Au Mine, which is made up of six contiguous exploitation concessions that total approximately 300 hectares. The property contains the historic La Verde Grande copper-zinc-silver-gold mine - which saw limited production in the early 1900's as well as in the 1960's - as well as the La Verdecita and El Picacho prospects, both of which saw limited production in the early 1900's. The property is within 2 km of a paved highway and the power grid.
"Exploration potential for the property is significant as the numerous mines, prospects and showings in the area have never been examined as a whole. Each of the various zones have been considered as separate bodies rather than part of a much larger mineralizing system", stated Ian Foreman, P.Geo., president of Yale Resources.
PROPERTY GEOLOGY
Mineralization within the La Verde Grande property consists of a series of structurally controlled skarn bodies and veins. Host rocks are a thick sequence of metamorphosed limestones that are locally intruded by granite and monzonite porphyries, dykes, and mineralized aplite dykes. The La Verde Grande area is located near the southern end of a newly recognized copper-molybdenum porphyry district that trends north into the southwest Arizona copper district.
LA VERDE GRANDE - 3D MODEL
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LA VERDE GRANDE - GEOLOGY AND SECTIONS
La Verde Grande Geological Map
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Section Long
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Section A
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Section B
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Section C
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Section D
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Section E
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Section F
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Section G
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Section H
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Section I
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Section J
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Section M
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LA VERDECITA
The La Verdecita deposit was partially exploited from several different workings with mineralization that can be traced intermittently for at least 200 metres. Mineralization is thought to continue another 150 metres to the northwest to the San Louis workings, which were not sampled during this first phase. The of La Verdecita deposit is located approximately 1.4 km south of the La Verde Grande Mine. The average from 21 vertical chip channel samples taken throughout the La Verdecita workings was 1.29 % copper, 10.45 g/t silver, 0.19 % zinc and 0.21 g/t gold with an average sample height of 1.8 metres.
Mineralization within the La Verdecita workings appears to be structurally controlled and trends northwest. Below are the complete results from the first phase of sampling at the La Verdecita deposit:
Sample |
Working |
Sample |
Cu |
Ag |
Zn |
Au |
Number |
|
Height |
(%) |
(g/t) |
(%) |
(g/t) |
145353 |
La Verdecita I |
1.95 |
3.73 |
85.8 |
0.07 |
0.47 |
145354 |
La Verdecita I |
1.90 |
0.07 |
1.8 |
0.03 |
0.01 |
145355 |
La Verdecita I |
1.80 |
0.09 |
2.7 |
0.02 |
0.01 |
145356 |
La Verdecita I |
1.90 |
0.58 |
5.3 |
0.04 |
0.03 |
145357 |
La Verdecita I |
1.20 |
1.60 |
12.6 |
0.05 |
0.19 |
145358 |
La Verdecita I |
1.85 |
0.02 |
4.9 |
0.02 |
0.01 |
145359 |
La Verdecita II -- level 2 |
1.80 |
2.06 |
19.5 |
0.03 |
0.41 |
145361 |
La Verdecita II -- level 2 |
1.95 |
1.51 |
1.8 |
0.04 |
0.40 |
145362 |
La Verdecita II -- level 2 |
1.50 |
1.21 |
3.2 |
0.02 |
0.20 |
145363 |
La Verdecita II -- level 2 |
1.65 |
0.80 |
1.1 |
0.02 |
0.06 |
145364 |
La Verdecita II -- level 2 |
2.10 |
0.52 |
1.7 |
0.02 |
0.08 |
145365 |
La Verdecita II -- level 2 |
1.55 |
0.41 |
1.1 |
0.03 |
0.04 |
145366 |
La Verdecita II -- level 2 |
2.00 |
1.12 |
1.6 |
0.25 |
0.23 |
145367 |
La Verdecita II -- level 2 |
1.90 |
1.93 |
0.8 |
0.16 |
1.29 |
145368 |
La Verdecita II - surface |
1.70 |
1.67 |
19.4 |
0.11 |
0.14 |
145369 |
La Verdecita II - surface |
1.90 |
4.89 |
30.8 |
0.14 |
0.20 |
145371 |
La Verdecita II - surface |
2.05 |
0.83 |
10.1 |
0.07 |
0.31 |
145372 |
La Verdecita II - surface |
1.90 |
0.73 |
3.7 |
0.05 |
0.03 |
145373 |
La Verdecita III |
2.00 |
0.01 |
0.0 |
0.01 |
0.01 |
145374 |
La Verdecita III |
2.00 |
1.34 |
6.5 |
2.41 |
0.08 |
145375 |
La Verdecita III |
1.65 |
2.10 |
1.4 |
0.17 |
0.19 |
Click to Enlarge |
Click to Enlarge |
EL PICACHO
The El Picacho deposit is located 900 metres northeast from, and on-strike with, the La Verde Grande Mine. The main showing consists of a single large excavation that measures approximately 15 metres by 10 metres. Copper oxide mineralization is exposed throughout the working and predominately occurs within a series of breccias. Approximately 100 metres east of this working are five exploratory pits with an average depth of 1.53 metres and each one encountered skarn mineralization with visible copper oxides. These pits cover an area approximately 75 metres by 50 metres. In addition, our field crew found the site of two historic drill holes (previously unknown to Yale) that were collared in outcrops with skarn (the results from these holes are unknown).
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Irregularly spaced chip channel sampling from within the main working returned an average of 1.27 % copper, 13.4 g/t silver and 0.67 % zinc. The following are all of the results from the main working at El Picacho:
Sample |
Sample |
Cu |
Ag |
Zn |
Number |
Length |
(%) |
(g/t) |
(%) |
145265 |
1.70 |
0.13 |
14.5 |
0.26 |
145266 |
2.00 |
1.95 |
19.3 |
0.38 |
145267 |
1.90 |
0.25 |
7.4 |
0.99 |
145268 |
2.60 |
2.22 |
14.1 |
0.78 |
145269 |
1.43 |
1.29 |
10.5 |
0.95 |
The test pits resulted in an average grade of 2.81 % copper, 9.5 g/t silver, and 0.71 % zinc with each sample grading greater than 1 % copper. The following results are all of the results from the test pits near El Picacho:
Sample |
|
Sample |
Cu |
Ag |
Zn |
Number |
|
Length |
(%) |
(g/t) |
(%) |
145282 |
Pit #1 |
1.60 |
2.28 |
1.5 |
0.19 |
145283 |
Pit #2 |
1.90 |
1.81 |
35.4 |
1.30 |
145284 |
Pit #2 |
1.30 |
7.25 |
7.6 |
1.70 |
145285 |
Pit #3 |
1.10 |
2.85 |
4.3 |
0.40 |
145286 |
Pit #4 |
2.00 |
3.38 |
4.4 |
0.11 |
145287 |
Pit #4 |
2.00 |
1.40 |
2.4 |
0.13 |
145299 |
Pit #5 |
0.80 |
1.01 |
4.9 |
2.10 |
LA TESCALAMA
The La Tescalama deposit is located approximately 600 metres north of the La Verde Grande Mine and has one tunnel that extends 40 metres into the hillside. Ten vertical chip channel samples taken every 5 metres along the walls of the workings averaged 1.67 % copper, 34.5 g/t silver, 0.65 % zinc, and 0.29 g/t gold over an average sample height of 1.7 metres. A highlight from this program was sample 145292 that graded 4.99 % copper, 289.0 g/t silver, 3.4 % zinc and 0.90 g/t gold over a vertical height of 1.9 metres.
Click to Enlarge |
Click to Enlarge |
Skarn has been uncovered in trenches surrounding the working over an area 80 by 20 metres. A mineralized outcrop located 80 metres away suggests that the deposit has the potential to be much larger.
Skarn mineralization exposed in the tunnel at La Tescalama has many similarities to that within the La Verde Grande Mine. To date the deposit is open in all directions as all of the workings are within mineralization. Below are the complete results from the first phase of sampling:
Sample |
Sample |
Cu |
Ag |
Zn |
Au |
Number |
Height |
(%) |
(g/t) |
(%) |
(g/t) |
145288 |
2.10 |
2.66 |
3.3 |
1.85 |
1.06 |
145289 |
1.60 |
0.78 |
1.8 |
0.08 |
0.02 |
145291 |
1.70 |
1.14 |
6.9 |
0.09 |
0.03 |
145292 |
1.90 |
4.99 |
289.0 |
3.40 |
0.90 |
145293 |
1.46 |
0.97 |
1.9 |
0.03 |
0.01 |
145294 |
1.30 |
3.22 |
5.5 |
0.05 |
0.45 |
145295 |
1.80 |
1.11 |
1.0 |
0.03 |
0.05 |
145296 |
1.90 |
0.25 |
0.6 |
0.07 |
0.01 |
145297 |
1.70 |
0.04 |
0.4 |
0.08 |
0.01 |
145298 |
1.50 |
1.34 |
0.8 |
0.03 |
0.09 |
The La Verde copper-silver-zinc-gold Project is located 45 km northwest of Hermosillo, Sonora State, Mexico and totals 2,940 hectares (29.4 square km) in size.
The property has seen production in at least seven targets and has historical records documenting the property for over 100 years. The most advanced target within the property is the La Verde Grande copper-silver-zinc-gold Mine, which was first in production in the early 1900's.
The property is only one hour from Hermosillo, a city with over 800,000 residents, and is within 2 km of a paved highway as well as the national power grid. In addition there is water available within the property sourced from a well located at the site of the historic production plant.
Sonora Mining District Map
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PROPERTY GEOLOGY
The La Verde property is located at the southern end of a copper-molybdenum porphyry district that trends north into the southwest Arizona. Deposits within this district include Cananea, La Caridad, and El Creston.
Skarn mineralization within the La Verde Grande property consists of a series of structurally controlled bodies and fault/breccia zones. Host rocks are a thick sequence of metamorphosed limestones that are locally intruded by granite and granodiorite porphyries, dykes, and historic records mention mineralized aplite dykes.
The property has the potential to host multiple porphyries. The first, the La Sierrita porphyry, covers approximately four square kilometres of the northern portion of the property. The Company believes that a second, as yet undiscovered porphyry, may exist at depth below the centre of the property and that this second porphyry would be the source for the high grade skarns.
Ian Foreman, P.Geo, is the Qualified Person, according to National Instrument 43-101, for the La Verde Project and is responsible for the technical data mentioned in this news release. All 'Historic Data' is presented for reference only and should not be relied upon as it pre-dates NI 43-101.
All of the samples mentioned in this release were prepared and analyzed by ALS Chemex at their labs in Hermosillo and Vancouver and generally consisted of 2-4 kg of material. Gold analyses were performed by 30 gram fire assay with an AA finish. Silver, copper and zinc were analyzed as part of a multi-element ICP package using an aqua regia digestion; samples with more than 100 g/t silver, 1% copper and/or 1% zinc (over limit) were re-analyzed using ALS Chemex's 'ore grade' detection limits.
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