Yorbeau suspends mining at Astoria

In order to concentrate on minesite exploration, Yorbeau Resources (TSE) has suspended production at its Astoria gold mine near Rouyn-Noranda, Que.

Initial results on the exploration program include an intersection at the Astoria mine’s No. 7 level, grading 11.6 grams gold per tonne over a true width of 3.5 metres, with an included interval carrying 18.2 grams per tonne over a true width of 2.2 metres.

The exploration program, which will cost about $1 million, is being financed by a private placement of 3.2 million shares and 1.6 million warrants, the latter being exercisable at 41 cents for 18 months. The placement is subject to regulatory approval.