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Orofino Project
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Location:

The Oro Fino Project is located135 km southeast of Hermosillo, Sonora State.

Deposit Model:

Gold and silver mineralization at Oro Fino occurs within structurally controlled quartz-carbonate veins, shears and breccias, with bulk tonnage and heap leachable potential.

Ownership:

100% Yale Resources Ltd.

Size:

Seventeen concessions that cover 8,291 hectares (or 82.9 km² or 20,488 acres).

Status:

Currently available for option.

Geology:

Mineralization is hosted in Cretacious andesitic to dioritic volcanics and associated with dacite dykes and sills.

Several structural trends on the Project host gold mineralization. The predominant orientations are conjugate sets that trend NNE, ENE and NW.

Summary:

Mid stage with multiple drill ready targets. Ten known mineralized targets and two strong silica and iron-oxide anomalies have been defined to date. Exploration work completed by Yale includes geological mapping, rock chip sampling from historic workings and recent surface trenching. Historic exploration work includes property scale soil sampling and a reverse circulation drill program testing several targets on the property.

Small scale historic production from the Orofino open pit during the mid 1990's produced a reported 60,000 tonnes of ore grading approximately 3 to 4 grams per tonne gold.

The exploration strategy is to focus on the structural controls of the mineralization in order to identify other mineralized zones along trend or in parallel structures. The silica and iron oxide alteration zones will be mapped and targeted geophysical surveys completed over areas of interest. The compilation of historic work will also assist in drill target generation.

Results:

Highlights from within the concessions are:
  • 3.19 g/t gold and 83.2 g/t silver over 30.0 metres from within the La Perla pit
  • 1.88 g/t gold and 56.8 g/t silver over 10.67 metres from drill hole north of La Perla pit
  • 3.97 g/t gold over 9.14 metres from drill hole at the El Orofino Target
  • 2.27 g/t gold and 13.7 g/t silver over 15.24 metres from drill hole at the El Gato Target
  • 2.53 g/t gold and 29.6 g/t silver over 4.4 metres from excavation at La Perlita West
  • 7.79 g/t gold and 173.0 g/t silver over 2.4 metres from excavation at La perlita North
A brief summary of targets discovered to date is provided below.

10 known mineralized targets with the following highlights:
    La Perla Target:
  • 3.19 g/t gold and 83.2 g/t silver over 30.0 metres
  • 2.52 g/t gold and 34.8 g/t silver over 5.0 metres
  • 2.02 g/t gold and 31.2 g/t silver over 18.5 metres


    • La Perlita Target:
  • 2.53 g/t gold and 29.6 g/t silver over 4.4 metres
  • 7.79 g/t gold and 173.0 g/t silver over 2.4 metres
  • 1.51 g/t gold and 8.8 g/t silver over 15 metres
    including: 4.04 g/t gold and 85.0 g/t silver over 4 metres, and
    3.03 g/t gold and 16.8 g/t silver over 5 metres
  • 1.20 g/t gold and 10.8 g/t silver over 17 metres


    • El Gato Target:
  • 2.27 g/t gold and 10.2 g/t silver over 5.0 metres


    • Santiago Target:
  • 0.52 g/t gold and 172.0 g/t silver over 2.9 metres
  • 0.6 g/t gold and 196.0 g/t silver over 4.15 metres


    • Quelitoso Target:
  • 2.77 g/t gold and 184 g/t silver over 1.5 metres
  • 0.83 g/t gold and 126.9 g/t silver over 20 metres


    • Koala Target:
  • 0.58 g/t gold, 57.4 g/t silver, 8.4 % lead and 1.4 % zinc over 10 metres

Highlights from drilling:
    La Perla Target:
  • 1.88 g/t gold and 56.8 g/t silver over 10.67 metres


    • Orofino Target:
  • 3.97 g/t gold over 9.14 metres


    • El Gato Target:
  • 2.27 g/t gold and 13.7 g/t silver over 15.24 metres
  • Previous small scale production during the mid 1990's with an average grade of 2.5 to 3 grams per tonne gold.


  • Project has excellent potential for additional targets as there is a very large land package that includes 2 satellite generated silica and iron-oxide anomalies to be investigated with ground work


    • The Deal:

    Optioned to Overlord Capital - Under the terms of the Option Agreement, in order to earn up to a 70% interest in the property, Overlord will be required to pay Yale $100,000, issue to Yale 1,300,000 shares in Overlord, and incur a total of $2,350,000 in exploration expenditures on the Property over a four year period.

    Overlord must pay Yale $50,000 and issue 50,000 common shares upon receipt of Venture Exchange approval to the proposed qualifying transaction. Subsequent share issuances of 500,000, 150,000, 350,000 and 250,000 shares on the first, second, third, and fourth year anniversaries will also be due in order to keep the Option Agreement in good standing. The first year's requirement will be $200,000 in exploration expenditures followed by a further $400,000 in the following year, $750,000 in the third year and $1,000,000 in the final year of the Option Agreement. Yale will be the initial operator and will manage exploration on the property.


     
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