An option to earn a 50% interest in the Bapst Twp. property owned by Fairfax Bay Resources in the Casa Berardi gold area in northwestern Quebec has been obtained by Yorbeau Resources.
Yorbeau President Karl Glackmeyer says the 4,942-acre property, located 15 miles from the Selbaie Mine and approximately 28 miles northeast of the Inco Ltd.-Golden Knight Resources discovery, appears to have a repetition of the Golden Pond structure and mineralogy.
A ground geophysics program followed by overburden drilling in 1985 identified a broad, highly conductive horizon running in an east- west direction associated with anomalous gold values in basal till immediately to the south.
Twenty holes were drilled into bed rock through the overburden. Bed rock samples showed only minimal gold values: five of the holes returned basal till assays ranging from 0.06 oz gold per ton to 3.0 oz, and 11 of the holes had visible grains of gold. Microscopic examination of the gold grains indicates most of them were not transported more than a short distance.
The high basal till assays are south of the conductive horizon, consistent with the notion the gold was carried by glacial action from this zone. Holes drilled in the overburden up ice from the geophysical anomaly showed no gold values.
Yorbeau has acquired the option for $50,000 in cash and a commitment to spend $200,000 on the property by March 31, 1988. The company can earn a 50% undivided interest in the 100 claims by spending an additional $300,000 in 1989 and delivering 100,000 Yorbeau common shares to Fairfax.
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