Yale gets good early results at Orofino

Yale Resources (YLL-V) is getting a better picture of its wholly owned Orofino project  in Mexico.

The Vancouver-based company is doing early stage exploration in anticipation of a drill program, and thus far, it likes what it sees.

Results from a chip channel sample from the walls of a historic open pit on the property, known as La Perla, returned 18.5 metres averaging 2.02 grams gold and 31.2 grams silver.

The company says mapping of the area shows La Perla to be at the intersection of a vertical and a shallow dipping mineralized structure. The parallel structures have been traced over several hundred metres of strike length, the company says.

But results weren’t limited to La Perla

Yale also dug a trench in the centre of its La Perlita targets – roughly 200 metres northeast of La Perla. The trench returned 17 metres grading 1.2 grams gold and 10.8 grams silver.

Additionally, the company announced that two samples from a stockpile of mineralization from past mining at the site that returned 1.76 grams gold and 1.48 grams gold respectively from 1.5 metre deep pits.

Orofino sits roughly 135 km southeast of Hermosillo in Mexico’s Sonora State. The 83 sq. km project area hosts nine mineralized targets and 6 historic open pit workings.

The project was drilled by Minera Teck in the early 1990s, and more recently was subject to soil sampling, geophysics, mapping and sampling by the previous private owner.

While production records are not available, the previous owner ran a small scale production during the mid 1990’s, which was said to have produced roughly 60,000 tonnes of ore grading 6 to 7 grams per tonne gold.

In late October the company raised capital through a private placement that saw it issue 20 million units at 6¢ per unit for proceeds of $1.2 million. Eacg unit is made up of a share and warrant with a strike price of 9¢.

In Toronto on November 6, Yale’s shares were up 0.5¢ to 7.5¢ on 104,000 shares traded.