Sep 16, 2004 Yale Expands Drilling Program at Golden Revenue. Yale Resources (MRK-V) is pleased to announce that it has reached an arrangement with Atac Resources (the optionee) to expand the drill program at the Golden Revenue Property by $200,000. This next phase of drilling will concentrate on the Nucleus Zone of the property. The Golden Revenue property is located approximately 220 km northwest of Whitehorse in central Yukon and is within the Tintina Gold Belt. The belt is host to the multi-million ounce Fort Knox and Donlin Creek intrusion related gold deposits. The Fort Knox Mine, which commenced production in 1997 with reported reserves of 154 million tonnes averaging 0.89 g/t gold, produced of 391,831 oz of gold in 2003. At Golden Revenue, results from this years drilling have shown that the Nucleus Zone contains long intervals of continuous mineralization resulting in several reported intersections of greater than 100 metres. Upon viewing the raw data from earlier drilling programs (1984 through 2001), it was apparent that indeed there are long intersections of continuous mineralization in approximately half of the old drill holes. This resulted in Yale re-calculating the previously reported intervals using a lower threshold of 0.3 g/t gold. All of these re-calculated intervals are given in the following table:
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Hole Total From To Interval Average
Number length (m) (m) (m) (m) Au (g/t)
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DN01-01 127.71 3.05 68.28 65.23 0.60
including 3.05 33.75 30.70 0.81
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DN01-02 178.92 4.88 173.45 168.57 0.69
including 4.88 144.59 139.71 0.76
including 35.66 71.65 35.99 1.34
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DN01-03 188.67 53.36 171.10 117.74 0.99
including 58.38 145.85 87.47 1.19
including 88.09 145.85 57.76 1.32
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DN01-04 149.63 68.07 98.60 30.53 0.79
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DN01-05 285.90 61.57 79.42 17.85 0.71
including 61.57 71.02 9.45 1.03
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DN01-06 170.08 104.50 128.48 23.98 0.92
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DN91-01 128.63 40.23 52.43 12.20 0.62
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DN91-02 151.18 7.47 149.66 142.19 1.09
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DN91-03 131.37 82.88 106.36 23.48 0.60
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DN91-04 149.96 6.40 35.75 29.35 0.78
and 80.77 99.67 18.90 0.72
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DN91-05 177.39 58.52 73.76 15.24 0.64
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DN89-01 133.2 2.43 122.00 119.57 0.89
including 2.43 85.00 82.57 1.11
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DN89-02 121.92 8.00 121.92 113.92 0.71
8.00 50.00 42.00 0.72
* NOTE: 95.5-98.0 = 36.48 g/t cut to 11.00 g/t Au
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DN89-03 64.31 6.00 28.00 22.00 0.48
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DN89-04 125.88 47.00 71.00 24.00 1.07
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DN89-05 81.69 No significant intervals
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DN89-06 65.08 No significant intervals
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DN84-01 83.82 25.6 58.98 33.38 0.44
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DN84-02 119.18 19.2 119.18 99.98 1.07
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DN84-03 91.44 18.29 91.44 73.15 0.98
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These re-calculated intervals combined with the results of the 2004 drilling campaign at the Nucleus Zone show that the Golden Revenue Property is host to at least one bulk tonnage gold deposit. It is important to note that all of the high grade intervals that have been intersected to date in all of the previous and current drilling campaigns are repeatable. As part of the on-going quality control program at Golden Revenue, all high grade intervals from the earlier drilling programs have been individually re-sampled and have returned high grade results. Yale's perspective is that by cutting these very high results to 11.0 g/t not only acknowledges their importance in the overall deposit but also minimizes their influence on the overall average grade of the deposit - resulting in a truer representation of the mineralization present. This conservative approach may under estimate the amount of high grade mineralization but is a better reflection on the overall grade of the deposit. Additional results from the next series of holes will be reported when available. As stated in an earlier news release, Yale Resources has the right to earn a 70% interest in the Golden Revenue Property. On behalf of the Board Keith McMyn President For further information, contact Ron Shenton in Canada, 604-542-9017 or, in the U.S., Martin Griesdorf at 781-631-9350. Email: info@yaleresources.com, website: www.yaleresources.com. The TSX Venture Exchange has not reviewed and does not accept 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, are forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in the Company's business, including risks inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements. View News Release in PDF Format: | |
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