YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or “the Company”)
today provided an update on exploration results for the Jacobina
and El Peñón mines. Results at both operations continued to show
growth in mineral reserves and mineral resource through year-end
2019 with additional promising new exploration results in the first
quarter of 2020.
Exploration Highlights,
Jacobina
- Exploration at Jacobina in the
second half of 2019 through the first quarter of 2020 expanded
higher grade zones in Canavieiras Sul, both down dip and along
strike to the north towards Canavieiras Central, providing
significant expansion of the known mineralized zone in the highest
grade sector of the mine.
- Drilling down plunge of known high
grade mineralization at Morro do Vento intercepted higher grades
over good widths indicating excellent mineral resource expansion
potential in this sector.
- Exploratory drilling continues to
demonstrate the potential of the João Belo Sul area adjacent to the
João Belo mine, as well as at Morro da Viuva, located about one
kilometre north of Canavieiras.
- Surface exploration in the Serra
Branca target area, located 12 kilometres north of Canavieiras, has
returned significant gold results from surface sampling along a
strike length of more than 2.0 kilometres.
Significance
The exploration results, at minimum, support the
extended mine plan scenario (“Extended Case”) highlighted in the
Company’s recent announcement on the Phase 2 expansion of Jacobina
(see press release dated May 6, 2020, available on the Company’s
website at www.yamana.com). The Extended Case, which considers the
addition of 9.5 million tonnes of plant feed, based on conversion
of current mineral resources, with an average grade of 2.40 grams
of gold per tonne (“g/t”), is the Company’s new base case. Mine
life under this scenario is forecast at 14.5 years, however,
Jacobina has a long track record of increasing mine life and the
latest exploration results underscore the likelihood that mine life
will increase further under the Extended Case scenario at the
contemplated throughput of 8,500 tonnes per day (“tpd”). In
addition, these results highlight the potential to bring higher
grade areas into production earlier in the operation’s mine
life.
Exploration Highlights, El
Peñón
- Drilling at El Peñón in the fourth quarter of 2019 through the
first quarter of 2020 intercepted encouraging mineralization at
depth below existing mineral resources at the Bonanza, Sorpresa,
and Pampa Campamento veins, as well as along strike at the
Esmeralda vein, with all four veins demonstrating excellent
potential for further mineral resource growth.
- Drilling at depth below mineral resources at Pampa Campamento
has delivered good results, including drill hole UIP0003 with 6.0
g/t of gold and 189 g/t of silver over a horizontal width of 2.1
metres. At the Bonanza vein, deeper drilling in widely-spaced holes
has also returned encouraging results, including hole UEB0028, with
9.1 g/t of gold and 167 g/t of silver over a horizontal width of
1.1 metres.
- Exploration drilling in 2019 on the Sorpresa vein demonstrated
mineralization in a gap in mineral resources, where both infill
drilling and testing in the area down plunge has returned promising
results.
- At the Esmeralda vein, a secondary vein parallel to the
prolific Bonanza structure, drilling has indicated good potential
for extensions to the south of known mineral reserves.
- Surface exploration in the El Peñón district continued to
generate drill targets for further exploration, such as the Cerro
Seco area, a new zone located immediately adjacent to the core mine
vein system that may reflect a continuation of the same vein
geometry as the core mine.
Significance
The discovery of new secondary veins along with
extensions and offshoots of primary veins further underscore the
resilience and potential of the vein system at El Peñón. The
results support the Company’s view that mine life will exceed
current mineral reserves and is at least consistent with the
Strategic Life of Mine of at least 10 years. Furthermore, because
El Peñón has excess plant capacity, the discovery of extensions of
primary vein structures provides flexibility to process more
tonnage at higher grades, which would increase annual
production.
Jacobina Exploration Update
Exploration drilling at Canavieiras Sul in the
second half of 2019 and the first quarter of 2020 expanded the
known zones by 125 metres down dip, and infill drilling in 2020 is
expected to provide new mineral resources with excellent intercepts
in the LU, MU, and LVLPC reefs. Notable results include the
following estimated true width intervals: 10.5 g/t of gold over 5.4
metres (CAS492); 5.3 g/t of gold over 3.4 metres (CAS473); 4.8 g/t
of gold over 4.2 metres (CAS471); 3.4 g/t of gold over 9.5 metres
(CANEX60A); and 3.4 g/t of gold over 2.7 metres (CANEX86).
Along strike to the north, exploratory drilling
towards Canavieiras Central yielded several new narrow but higher
grade intercepts along a 300-metre-long extension of this high
grade zone in the Maneira and LU reefs, including the following
estimated true width intervals: 8.7 g/t of gold over 0.4 metres
(CANEX50) and 5.6 g/t of gold over 0.4 metres (CANEX59). See
Figure 2 for additional results.
Successful infill drilling on Canavieiras
Central continues to generate higher grade results in the LU, MU,
and LVLPC reefs with the following estimated true width intercepts:
54.7 g/t of gold over 3.0 metres (CANEX79); 6.7 g/t of gold over
3.9 metres (CANEX75); and 18.3 g/t of gold over 4.9 metres
(CANEX55). Along strike to the south, exploration drilling towards
Canavieiras Sul confirmed the presence of the MU reef, with an
estimated true width intercept of 18.0 g/t of gold over 3.9 metres
(CANEX87), opening up 180 metres of strike potential, as well as
indicating down plunge continuity, to be explored. See Figure 2 and
Table 1 for these and additional results. These results will also
be incorporated in the updated mineral resources by year-end.
The Morro do Vento sector also continues to
provide excellent results and show high potential as a new area for
mineral reserve growth. Ongoing exploration drilling on a high
grade shoot at Morro do Vento has defined the down plunge
continuation of the Main, Hangingwall, and Footwall reefs with the
following estimated true width intercepts: 7.4 g/t of gold over 5.5
metres (MVTEX46); 8.4 g/t of gold over 2.3 metres (MVTEX32); and
4.9 g/t of gold over 3.3 metres (MVTEX43). See Figure 3 and Table 1
for additional results.
Exploratory drilling continues to demonstrate
the potential of the João Belo Sul area adjacent to the João Belo
mine, as well as at Morro da Viuva, located about one kilometre
north of Canavieiras, extending the known mineralized envelope to
both the north and south of the Jacobina mine. See Figures 1 and 4
and Table 1 for additional results.
Surface exploration in the Serra Branca target
area, located 12 kilometres north of Canavieiras, has returned
significant gold results from surface sampling along a strike
length of more than 2.0 kilometres, advancing this area to the
drill-ready stage. The Serra Branca target is part of the larger,
highly prospective Jacobina Norte project, which is located in
close proximity to existing Jacobina mine infrastructure. See
Figure 5 for Serra Branca results.
Overall, these exploration and infill drilling
results suggest a significant expansion of both mineral reserves
and mineral resources within the Canavieiras and Morro do Vento
sectors by the end of 2020, while new potential in the João Belo
and Morro da Viuva sectors indicate excellent potential for
expansion of inferred mineral resources.
The results, at minimum, support the Extended
Case scenario highlighted in the Company’s recent announcement on
the Phase 2 expansion of Jacobina (see press release dated May 6,
2020, available on the Company’s website at www.yamana.com). The
Extended Case, which includes 9.5 million tonnes of additional
plant feed with an average grade of 2.40 g/t of gold, based on
conversion of current mineral reserves, is the Company’s new base
case. Under this scenario, the after-tax net present value
(“NPV”)(1) increases to $993 million assuming a $1,250 per
ounce gold price and a BRL/USD exchange rate of 4.0:1. NPV(1)
increases to $1.78 billion at a gold price of $1,550 per ounce and
a 5.0:1 BRL/USD exchange rate. While the Phase 2 pre-feasibility
study shows a mine life of 14.5 years for the Extended Case,
Jacobina has a long track record of increasing mine life and the
latest exploration results underscore the likelihood that mine life
will increase further under the Extended Case scenario at the 8,500
tpd throughput contemplated in the Phase 2 expansion. In addition,
these results highlight the potential to bring higher grade areas
into production earlier in the operation’s mine life.
Figure 1: Jacobina
Location Map Showing Main Target Areas and Mines. Star Symbol
Indicates Location of Mine Plant
Facilityhttps://www.globenewswire.com/NewsRoom/AttachmentNg/7e230478-0913-4fad-8fb7-dfaa8c08907e
Figure 2: Jacobina Canavieiras Long Section Highlighting
Recent Drilling
Resultshttps://www.globenewswire.com/NewsRoom/AttachmentNg/4e3aedde-26f4-48bb-a71d-9fdce464b5bc
Figure 3: Jacobina Morro do Vento Long Section
Highlighting Recent Drilling
Resultshttps://www.globenewswire.com/NewsRoom/AttachmentNg/f4a90fc1-1b13-466f-9d46-a9c0af76de09
Figure 4: Jacobina João Belo Long
Section, With Recent and Historic Drilling
Highlightshttps://www.globenewswire.com/NewsRoom/AttachmentNg/bc861698-5e7a-4fc3-9b75-398522fd8d4b
Figure 5: Jacobina Plan Map of Serra
Branca Target Area, Showing Simplified Geology and Recent Surface
Rock Sample Geochemistry (Au g/t) and Select Historic Drilling
Results. (The Serra Branca Target is Located Within the Larger
Jacobina Norte
Project)https://www.globenewswire.com/NewsRoom/AttachmentNg/565e4f65-b04a-41ab-8ffb-5a6ff8d787b7
Table 1: Jacobina New Drill Intercepts,
Canavieiras Central, Canavieiras Sul, João Belo Sul and Morro
do Vento, Select for Intervals Greater Than 2.5 g/t Gold Over
Diluted Width of 3.0 metres.
Hole |
Including |
Sector |
Reef |
From (m) |
To (m) |
Interval (m) |
Estimated True Width (m) |
Au (g/t) |
CANEX79 |
|
Canavieiras Central |
LU |
334.02 |
338.00 |
3.98 |
2.95 |
54.71 |
CANEX55 |
|
Canavieiras Central |
LU |
209.88 |
215.00 |
5.12 |
4.93 |
18.28 |
CANEX87 |
|
Canavieiras Central |
MU |
358.00 |
362.20 |
4.20 |
3.88 |
18.01 |
CANEX51 |
|
Canavieiras Central |
MU |
273.05 |
279.00 |
5.95 |
4.29 |
11.01 |
CANEX46 |
|
Canavieiras Central |
MU |
185.95 |
189.50 |
3.55 |
2.99 |
11.96 |
CANEX65 |
|
Canavieiras Central |
MU |
249.82 |
255.50 |
5.68 |
4.89 |
5.85 |
CANEX75 |
|
Canavieiras Central |
LU |
316.63 |
322.00 |
5.37 |
3.99 |
6.72 |
CANEX49 |
|
Canavieiras Central |
MU |
252.61 |
256.97 |
4.36 |
3.54 |
7.39 |
CANEX72 |
|
Canavieiras Central |
LVLPC |
253.50 |
256.23 |
2.73 |
2.59 |
8.90 |
CANEX84 |
|
Canavieiras Central |
LVL |
270.05 |
276.50 |
6.45 |
6.18 |
3.47 |
CANEX56 |
|
Canavieiras Central |
LVLPC |
242.50 |
246.00 |
3.50 |
2.93 |
5.22 |
CANEX69 |
|
Canavieiras Central |
QTO_MU |
85.32 |
91.52 |
6.20 |
4.15 |
2.63 |
CANEX58 |
|
Canavieiras Central |
MU |
288.00 |
292.50 |
4.50 |
1.64 |
6.48 |
CAS492 |
|
Canavieiras Sul |
MU |
131.47 |
137.30 |
5.83 |
5.36 |
10.50 |
CANEX60A |
|
Canavieiras Sul |
LVLPC |
82.79 |
96.71 |
13.92 |
9.52 |
3.43 |
CAS471 |
|
Canavieiras Sul |
LVLPC |
89.28 |
93.50 |
4.22 |
4.18 |
4.78 |
CAS473 |
|
Canavieiras Sul |
MU |
99.50 |
104.50 |
5.00 |
3.40 |
5.25 |
CANEX78A |
|
Canavieiras Sul |
MU |
65.50 |
69.04 |
3.54 |
3.36 |
3.85 |
CANEX61 |
|
Canavieiras Sul |
MU |
86.79 |
89.60 |
2.81 |
2.35 |
5.27 |
CANEX68 |
|
Canavieiras Sul |
LVLPC |
76.36 |
79.64 |
3.28 |
3.13 |
3.83 |
CANEX54 |
|
Canavieiras Sul |
LU |
174.77 |
180.00 |
5.23 |
3.85 |
3.11 |
CANEX86 |
|
Canavieiras Sul |
LVLPC |
18.00 |
21.11 |
3.11 |
2.68 |
3.39 |
CANEX50 |
|
Canavieiras Sul |
MAN |
312.00 |
323.00 |
11.00 |
0.41 |
8.72 |
CANEX59 |
|
Canavieiras Sul |
MAN |
213.82 |
222.98 |
9.16 |
0.42 |
5.57 |
MVTEX46 |
|
Moro do Vento |
MR |
205.50 |
208.50 |
3.00 |
2.50 |
4.97 |
MVTEX46 |
|
Moro do Vento |
FW |
250.00 |
256.42 |
6.42 |
5.54 |
7.43 |
MVTEX34 |
|
Moro do Vento |
HW |
73.94 |
76.48 |
2.54 |
1.34 |
15.62 |
MVTEX32 |
|
Moro do Vento |
MR |
116.47 |
123.48 |
7.01 |
2.34 |
8.40 |
MVTEX43 |
|
Moro do Vento |
HW |
262.56 |
267.25 |
4.69 |
3.28 |
4.93 |
MVTEX047 |
|
Moro do Vento |
HW |
177.67 |
179.01 |
1.34 |
1.21 |
9.12 |
|
Moro do Vento |
FW |
286.50 |
292.00 |
5.50 |
4.85 |
3.12 |
incl. |
Moro do Vento |
FW |
291.38 |
292.00 |
0.62 |
0.55 |
17.47 |
MVTEX30 |
|
Moro do Vento |
FW |
294.00 |
299.50 |
5.50 |
2.36 |
6.36 |
MVT1641 |
|
Moro do Vento |
MR |
104.46 |
107.59 |
3.13 |
1.90 |
5.38 |
JBEX009 |
|
João Belo Sul |
LMPC |
435.05 |
442.71 |
7.66 |
7.02 |
3.17 |
incl. |
João Belo Sul |
LMPC |
435.05 |
439.00 |
3.95 |
3.62 |
5.14 |
JBEX012 |
|
João Belo Sul |
LMPC |
410.47 |
417.00 |
6.53 |
3.38 |
4.11 |
incl. |
João Belo Sul |
LMPC |
410.47 |
413.69 |
3.22 |
1.58 |
6.52 |
JBEX014 |
|
João Belo Sul |
LMPC |
407.26 |
410.00 |
2.74 |
2.04 |
4.13 |
El
Peñón
Exploration Update
New drill results on the Pampa Campamento,
Bonanza, and Sorpresa veins have all indicated potential to extend
to depths either below low-angle fault offsets or in the footwall
to the Peñón rhyolite. Drill intercepts on the Esmeralda vein, a
secondary vein parallel to the prolific Bonanza structure, have
indicated good potential for extensions south of known mineral
reserves.
Drilling at depth below current mineral
resources at Pampa Campamento has delivered good results, including
the following intercepts reported over the following horizontal
widths: 6.0 g/t of gold and 189 g/t of silver over 2.1 metres
(UIP0003); and 6.9 g/t of gold and 55 g/t of silver over 1.0 metres
in (UEP0014). These intercepts open up over 100 metres of strike
extending at depth. See Figure 7 for additional drill results.
Drill hole UEB0026, which tested the deeper
parts of the Bonanza/Aleste vein system below the favourable Peñón
rhyolite, intersected 19.0 g/t of gold and 50 g/t of silver over a
horizontal width of 0.73 metres (11.5 g/t of gold and 30 g/t of
silver diluted over a minimum mining width of 1.2 metres). Drill
hole UEB0028, which intersects the Bonanza/Aleste vein 500 metres
to the south of UEB0026, returned 9.1 g/t of gold and 167 g/t of
silver over a horizontal width of 1.1 metres, opening up
significant potential for further mineralization at depth in this
highly productive vein structure. The Bonanza/Aleste vein structure
was the last primary vein structure discovered and developed by the
Company and, as such, a discovery of a meaningful extension would
be significant and very prospective. As a very high grade
vein structure, Bonanza/Aleste produced 1.12 million ounces of gold
and 20.92 million ounces of silver (approximately 1.4 million gold
equivalent ounces using the prevailing gold to silver ratio of the
time) from 2009 through early 2018. See Figure 8 for additional
drill results.
Exploration drilling in 2019 on the Sorpresa
vein demonstrated mineralization in a gap in mineral resources in
this vein, while infill drilling and testing of the area down
plunge returned promising results, including some holes with wider
mineralized intervals, such as: SSI0062, returning 5.9 g/t of gold
and 342 g/t of silver over a horizontal width of 4.9 metres and
drill hole SSI0064 with 7.0 g/t of gold and 287 g/t of silver over
a horizontal width of 1.8 metres. These targets remain open at
depth and will be further drill tested during 2020. See Figure 9
for additional drill results.
Esmeralda is a secondary vein adjacent to
Bonanza that, to date, has demonstrated limited down dip extent,
but recent drilling indicates that the structure remains open along
strike with stepouts to the south. Results include hole SEE0016
with 8.6 g/t of gold and 333 g/t of silver over a horizontal width
of 0.7 metres (5.0 g/t of gold and 194 g/t of silver diluted over a
minimum mining width of 1.2 metres). See Figure 10 for additional
details. Infill drilling 400 metres to the north continues to
produce good results in Esmeralda Central as shown in Table 2.
Surface exploration at El Peñón has expanded
since the start of the fourth quarter with soil and rock sampling
and mapping of select targets originally generated by a machine
learning study completed in 2019. Soil anomalies with gold and
pathfinder metals are helping generate drill targets for further
exploration, such as the Cerro Seco area, a new zone located
immediately adjacent to the core mine vein system. See Figure 11
for a diagram of Cerro Seco soil geochemistry and proposed drill
holes. This anomaly, in an area previously considered to have low
potential, may reflect a continuation of the en-echelon core mine
vein system.
The discovery of new secondary veins along with
extensions and offshoots of primary veins further underscore the
resilience and potential of the vein system at El Peñón. The
results support the Company’s view that mine life will exceed
current mineral reserves and is at least consistent with the
Strategic Life of Mine of at least 10 years. Furthermore, because
El Peñón has excess plant capacity, the discovery of extensions of
primary vein structures provides flexibility to process more
tonnage at higher grades, which would increase annual
production.
At El Peñón, with more than 5.0 million ounces
of gold production to date, exploration efforts continue a 20-plus
year history of replacing depletion and adding new mineral
resources to this prolific asset. Exploration results through the
end of the first quarter of 2020 indicate further exploration
success can be anticipated.
Figure 6: El Peñón Property Location
Map. Star Symbol Indicates Location of Mine Plant
Facility.https://www.globenewswire.com/NewsRoom/AttachmentNg/42e0f071-c1ed-4caf-8a23-1f42b046cfba
Figure 7: El Peñón, Pampa Campamento Vein Long
Section.https://www.globenewswire.com/NewsRoom/AttachmentNg/64d92e5e-961f-4328-b72a-fa9a867917ab
Figure 8: El Peñón Bonanza-Aleste Vein Long
Section.https://www.globenewswire.com/NewsRoom/AttachmentNg/2347cfe4-ed55-419c-ac4e-29f22a31db2c
Figure 9: El Peñón Sorpresa Vein Long
Sectionhttps://www.globenewswire.com/NewsRoom/AttachmentNg/232fe240-13e6-4315-a757-83e5204a0483
Figure 10: El Peñón Esmeralda NE Vein Long
Sectionhttps://www.globenewswire.com/NewsRoom/AttachmentNg/291f3ffd-7274-4390-b570-7a7f7ea09949
Figure 11: El Peñón Cerro Seco Soil
Geochemistry (Au g/t) Target Showing Proposed Drill
Holes.https://www.globenewswire.com/NewsRoom/AttachmentNg/9d61f6df-eb40-4a67-ab83-dc3242d3ee7e
Table 2: El Peñón New Infill Drill Intercepts, Select
for Intervals Greater Than 3.5 g/t Gold Over Diluted Mining Width
of 1.2 Metres. (Widths Reported as Horizontal Mining Width
Across the Vein.)
Hole |
Sector |
From (m) |
To (m) |
Interval (m) |
Horizontal width (m) |
Au (g/t) |
Ag (g/t) |
SPI0062 |
Pampa Campamento |
314.00 |
315.10 |
1.10 |
0.88 |
5.10 |
8.9 |
SSI0062 |
Sorpresa |
306.77 |
313.59 |
6.82 |
4.90 |
5.90 |
342.1 |
SSI0063 |
Sorpresa |
373.05 |
374.24 |
1.19 |
0.94 |
5.90 |
393.6 |
SSI0064 |
Sorpresa |
333.03 |
335.50 |
2.47 |
1.80 |
7.02 |
287.0 |
SSI0067 |
Sorpresa |
351.24 |
351.69 |
0.45 |
0.40 |
34.88 |
973.0 |
SSI0069 |
Sorpresa |
266.88 |
267.60 |
0.72 |
0.59 |
11.19 |
912.0 |
STI0159 |
Ventura |
346.54 |
348.23 |
1.69 |
0.89 |
22.20 |
1439.1 |
UID0311 |
Dorada FW W |
126.50 |
127.00 |
0.50 |
0.42 |
15.10 |
1189.0 |
UIE0040 |
Esmeralda Central |
133.53 |
137.15 |
3.62 |
3.57 |
4.99 |
267.9 |
UIE0041 |
Esmeralda Central |
146.73 |
150.00 |
3.27 |
2.80 |
5.30 |
218.2 |
UIE0042 |
Esmeralda Central |
162.80 |
163.70 |
0.90 |
0.88 |
6.11 |
149.4 |
UIE0047 |
Esmeralda Central |
172.49 |
173.87 |
1.38 |
1.32 |
13.80 |
613.7 |
UIE0049 |
Esmeralda Central |
152.29 |
153.50 |
1.21 |
1.00 |
10.90 |
387.5 |
UIE0049 |
Esmeralda Central |
166.15 |
167.35 |
1.20 |
0.98 |
7.00 |
289.2 |
UIO0091 |
Caserón 505 |
156.25 |
158.30 |
2.05 |
0.75 |
6.24 |
0.6 |
UIO0098 |
Caserón 470 |
233.25 |
235.55 |
2.30 |
1.20 |
5.30 |
21.6 |
UIU0025 |
Nueva Abundancia |
70.74 |
72.50 |
1.76 |
1.20 |
58.80 |
3228.9 |
SRI0035 |
Nueva Providencia |
69.35 |
70.30 |
0.95 |
0.65 |
7.90 |
123.6 |
STI0161 |
Ventura Oeste |
383.00 |
384.40 |
1.40 |
1.00 |
4.50 |
127.5 |
UIP0003 |
Pampa Campamento |
290.48 |
294.20 |
3.72 |
2.10 |
6.02 |
188.6 |
UIP0004 |
Pampa Campamento |
182.50 |
185.10 |
2.60 |
1.30 |
5.30 |
151.6 |
Table 3: El Peñón New Exploration Drill Intercepts,
Select for Intervals Greater Than 3.5 g/t Gold Over Diluted Mining
Width of 1.2 Metres. (Widths Reported as Horizontal Mining Width
Across the Vein.)
Hole |
Sector |
From (m) |
To (m) |
Interval (m) |
Horizontal width (m) |
Au (g/t) |
Ag (g/t) |
SEE0015 |
Esmeralda NE |
264.50 |
266.00 |
1.50 |
0.76 |
6.20 |
307.0 |
SEE0016 |
Esmeralda NE |
234.00 |
235.50 |
1.50 |
0.70 |
8.59 |
332.9 |
SNX0939 |
Discovery Wash |
345.50 |
347.00 |
1.50 |
1.19 |
4.83 |
173.7 |
SOC0006 |
Caseron 505 |
164.50 |
167.00 |
2.50 |
1.05 |
108.37 |
142.5 |
UEB0026 |
Bonanza |
211.00 |
212.40 |
1.40 |
0.73 |
18.90 |
50.0 |
UEM0010 |
Martillo Flat Este |
140.25 |
143.53 |
3.28 |
1.00 |
12.80 |
732.0 |
UEP0010 |
Pampa Campamento |
197.30 |
199.00 |
1.70 |
0.56 |
8.53 |
453.1 |
UEP0013 |
Pampa Campamento |
104.50 |
106.00 |
1.50 |
1.02 |
15.00 |
101.0 |
UEP0014 |
Pampa Campamento |
254.60 |
256.15 |
1.55 |
1.00 |
6.89 |
54.7 |
UEP0015 |
Pampa Campamento |
178.40 |
179.00 |
0.60 |
0.48 |
8.98 |
5.8 |
UER0125 |
Providencia Norte |
174.62 |
175.45 |
0.83 |
0.82 |
5.80 |
116.1 |
UEV0011 |
Angelina |
53.40 |
55.00 |
1.60 |
1.24 |
11.50 |
22.0 |
UEB0028 |
Aleste |
106.50 |
108.00 |
1.50 |
1.10 |
9.11 |
167.0 |
Qualified Persons
Scientific and technical information contained
in this press release has been reviewed and approved by Henry
Marsden (P. Geo. and Senior Vice President, Exploration). Mr.
Marsden is an employee of Yamana Gold Inc. and a “Qualified Person”
as defined by Canadian Securities Administrators' National
Instrument 43-101 - Standards of Disclosure for Mineral
Projects.
Quality Assurance and Quality Control
Yamana incorporates a Quality Assurance and
Quality Control (“QA/QC”) program for all of its mines and
exploration projects which conforms to industry best practices.
Samples are transported in security sealed bags
for preparation at ALS and SGS analytical laboratories,
both ISO 9001:2008 and 17025 certified laboratories, except at
Jacobina where sample preparation and primary analysis is completed
on site. Gold is analyzed by gold fire assay with 30 grams or 50
grams aliquot and AAS finish. Samples over 5 g/t are re-analyzed by
gravimetric finish methods. Silver is determined using a four acid
digestion and AAS finish (ore level) and samples over 30g/t are
re-analyzed by gravimetric finish methods. Five percent of all
pulps are further checked by secondary certified laboratories
(Intertek, SGS, SGS Geosol) using the same analytical methods.
All exploration diamond drill cores are split in
half by mechanical spitting or core sawing and sampled at
appropriate intervals for assay, except for small diameter drilling
(BQ) from underground setups at Jacobina where core is logged,
photographed and whole core submitted for assay. The remaining
core, coarse reject and pulps are stored on-site in a secure
location.
Quality assurance standards, duplicates, sterile
and blanks are routinely inserted into the sample stream as a
control for assay accuracy, bias, precision and contamination. The
results of these checks are tracked and failures are re-analyzed.
This information also includes pulp checks carried out in the
secondary lab.
About Yamana
Yamana Gold Inc. is a Canadian-based precious
metals producer with significant gold and silver production,
development stage properties, exploration properties, and land
positions throughout the Americas, including Canada, Brazil, Chile
and Argentina. Yamana plans to continue to build on this base
through expansion and optimization initiatives at existing
operating mines, development of new mines, the advancement of its
exploration properties and, at times, by targeting other
consolidation opportunities with a primary focus in the
Americas.
FOR FURTHER INFORMATION, PLEASE
CONTACT:Investor Relations
416-815-02201-888-809-0925Email: investor@yamana.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS: CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
This news release contains or incorporates by reference
“forward-looking statements” and “forward-looking information”
under applicable Canadian securities legislation within the meaning
of the United States Private Securities Litigation Reform Act of
1995. Forward-looking information includes, but is not limited to
information with respect to exploration results at Jacobina and El
Peñón, including growth in mineral reserves and mineral resource,
promising new exploration results supporting the extended mine plan
scenario at Jacobina and exceeding existing mine life of mineral
reserves at El Peñón. Forward-looking statements are characterized
by words such as “plan,” “expect”, “budget”, “target”, “project”,
“intend”, “believe”, “anticipate”, “estimate” and other similar
words, or statements that certain events or conditions “may” or
“will” occur. Forward-looking statements are based on the opinions,
assumptions and estimates of management considered reasonable at
the date the statements are made, and are inherently subject to a
variety of risks and uncertainties and other known and unknown
factors that could cause actual events or results to differ
materially from those projected in the forward-looking
statements. These factors include the Parties’ expectations
in connection with the expectations outlined above being met; the
impact of general business and economic conditions, global
liquidity and credit availability on the timing of cash flows and
the values of assets and liabilities based on projected future
conditions, fluctuating metal prices (such as gold, copper, silver,
zinc and molybdenum), currency exchange rates (such as the
Argentine peso versus the United States dollar), the impact of
inflation, possible variations in ore grade or recovery rates,
hedging programs, changes in accounting policies, changes in
Mineral Resources and Mineral Reserves, risks related to other
investments, risks related to metal purchase agreements, risks
related to acquisitions, changes in project parameters as plans
continue to be refined, changes in project development,
construction, production and commissioning time frames,
unanticipated costs and expenses, higher prices for fuel, steel,
power, labour and other consumables contributing to higher costs
and general risks of the mining industry, failure of plant,
equipment or processes to operate as anticipated, unexpected
changes in mine life, final pricing for concentrate sales,
unanticipated results of future studies, seasonality and
unanticipated weather changes, costs and timing of the development
of new deposits, success of exploration activities, permitting
timelines, government regulation and the risk of government
expropriation or nationalization of mining operations, risks
related to relying on local advisors and consultants in foreign
jurisdictions, environmental risks, unanticipated reclamation
expenses, risks related to fiscal stability agreements, risks
relating to joint venture operations, title disputes or claims,
limitations on insurance coverage and timing and possible outcome
of pending and outstanding litigation and labour disputes, risks
related to enforcing legal rights in foreign jurisdictions, as well
as those risk factors discussed or referred to herein and in the
Parties filings with applicable securities regulatory authorities
and publicly available. Although the Parties have attempted
to identify important factors that could cause actual actions,
events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be anticipated, estimated or
intended. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
statements. The Parties undertake no obligation to update
forward-looking statements if circumstances or management’s
estimates, assumptions or opinions should change, except as
required by applicable law. The reader is cautioned not to place
undue reliance on forward-looking statements. The forward-looking
information contained herein is presented for the purpose of
assisting investors in understanding the expected plans and
objectives with respect to the exploration results at Jacobina and
El Peñón and may not be appropriate for other purposes.
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