The Zacatecas Venture
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Click here to see pictures from the Zacatecas drill program.

Yale Resources Ltd. has signed a Letter Agreement with IMPACT Silver Corp. to purchase up to an 80 % interest in three properties in the Zacatecas Silver District, Mexico.

The three properties, collectively called the Zacatecas Venture, are San Sabino, San Jose, and Salvador. All three properties are within eight kilometres of the Veta Grande processing plant, which IMPACT has recently announced that it has an option to purchase. By teaming with IMPACT, Yale has access to an aggressive well managed partner who is working toward becoming a dominant player in the Zacatecas District.

A key aspect in the evaluation of these properties is the high grade nature of the run of mine dumps located on the properties - grades from sampling done to date shows that the dumps grade, on average, in excess of 300 g/t silver. Should the results of the upcoming exploration programs prove favourable, Yale will be able to process material through the Veta Grande processing plant once IMPACT exercises its option to acquire the plant.

Each of the three properties has had some past silver production dating back to the Spanish period. The Zacatecas silver district is one of the largest historic silver districts in the world with past production estimated at 1.2 billion ounces.

The Zacatecas Drill Program (Phase 1 Completed):

Yale Resources Ltd is pleased to report results from the phase one drill program at the Zacatecas Venture, under option from IMPACT Silver Corp., with a highlight intercept of 1,340 g/t silver over 0.80 metres. Click on the highlighted links below to view results by corresponding property.

The management of Yale and IMPACT are encouraged by the first phase of drilling as all holes encountered mineralization and will be planning a series of holes for a phase-two drill program scheduled to take place in the fall. Further work will be focused on expanding the understanding of the high-grade mineralization, particularly at Mina San Jose. Phase-one drilling of San Sabino will be completed at that time.

Processing Material Through The Veta Grande Mill:

Yale and IMPACT are now going to investigate the option of processing the mineralized dumps on the properties through the Veta Grande Mill, which IMPACT has an option to purchase. If test work is satisfactory, milling would then be done on a contract basis at rates to be negotiated.

The Agreement:

Under terms of the Agreement, for each property, Yale must reimburse Impact the property purchase cost and then spend a minimum of US$ 100,000 on exploration within 18 months in order to earn a 65 % interest in the property. Yale will then have an option to increase its interest to 80 % by paying IMPACT US$ 125,000 in either cash or shares, at IMPACT's discretion. IMPACT will be the operator of the Zacatecas Venture.

With the completion of this drill program Yale anticipates that it will be earning a 65% interest in the Mina San Jose, Zacatecas and Salvador properties shortly. San Sabino has yet to be drilled and therefore Yale has, to date, not earned it's interest. Results from a recently completed trenching program at San Sabino will be released when received.

Click below for details for each property:
 
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