YAMANA GOLD INC. (TSX:YRI) (NYSE:AUY) (“Yamana” or “the Company”)
herein provides a mid-year 2018 exploration update for select
properties within its portfolio, namely Jacobina, Chapada, Minera
Florida, El Peñón, Cerro Moro and Lavra Velha.
HIGHLIGHTS
Jacobina
- Exploration drilling has
demonstrated the potential to add significant new, near mine
shallow inferred mineral resources, namely in the new Serra do
Corrego area, at grades higher than existing mineral reserves;
- The exploration program is on track to increase mineral reserve
and mineral resource grades; and
- The regional surface exploration
program within the Company’s expansive land package has identified
several priority targets, including João Belo Sur, Santa Cruz and
Barrocao, which show significant promise for further mineralized
reefs based on surface samples and historical workings.
Chapada
- The drill program at Suruca is expanding the inferred sulphide
mineral resource, including in a newly discovered hanging wall
zone;
- Drilling at the Baru and Sucupira
targets is providing additional mineral resources in the pit wall
at Chapada;
- A new, 500-metre long copper
and gold mineral system was discovered at the Santa Cruz target
along the Northeast-Southwest direction with mineralization related
to high density, A-type quartz veins and biotitic hydrothermal
alteration, similar to those found at Corpo Sul; and
- Drilling at Hidrotermalito, located
within two kilometres of Chapada, is returning positive results
with grades higher than the existing Chapada mineral reserves.
Minera
Florida
- The expansion of Fantasma, PV Sur
and Don Leopoldo systems in the Pataguas area is continuing to
demonstrate the prospectivity of the new Agua Fria
concessions;
- Infill intercepts of several
high-grade veins, including Centenario Sur and Maquis Clavo II,
continue to provide new high-grade reserves in the core mine area;
and
- Newly discovered veins are expected
to be drill tested by the regional program later in 2018.
El Peñón
- Infill drilling continues to
replace production depletion through conversion of inferred mineral
resources to measured and indicated mineral resources, while the
exploration program continues to identify new structures in the
core mine area, which are expected to increase the mineral
inventory and potentially extend the mine life.
Cerro Moro
- Infill drilling on the newly
discovered Veronica vein is adding measured and indicated mineral
resources and is expected to provide mine life extensions;
- The mine exploration program is
targeting several new near surface veins that have been identified
through mapping and geochemistry; and
- The district exploration program is
advancing with detailed mapping, geophysics and geochemistry aimed
at defining new drill targets for the 2019 exploration
program.
JACOBINA, BRAZIL
Results to date suggest a possible increase in
mineral reserve grade at Canavieiras and João Belo, while
exploration drilling results are expected to provide new inferred
mineral resources at greater than LOM grade due to the discovery of
new mineralized reefs in the near-mine area of Serra do Corrego.
New targets within the Yamana land package continue to demonstrate
the potential of this asset, both to sustain production in the long
term and to deliver opportunities for higher grades.
The goals of the 2018 exploration program at
Jacobina are:
- Test areas for higher-than-reserve
grade mineralization with a focus on targets near existing
infrastructure;
- Drilling to optimize geologic
constraints; and
- Explore broader land package in
recognition of the prospectivity of the Yamana-controlled
concessions.
The Jacobina gold mine is located in the east
central section of Bahia State of Northern Brazil. The
gold deposits at Jacobina are hosted within the southern sector of
a north-south aligned belt comprised of Paleoproterozoic age
conglomerate, schist and quartzite that extend for over 200
kilometers. The Company owns contiguous mining concessions for over
80 kilometres of this belt. Exploration efforts are primarily
concentrated on targets proximal to current operations, though for
2018 the program also includes work on the broader land
package.
During the first half of 2018, 5,120 metres of
drilling was completed toward the goal of identifying and testing
higher-than-reserve grade mineralization with a focus near existing
mine infrastructure. Since Jacobina already has mineral reserves
that support a long mine life, one of the primary objectives is to
enhance this through a focus on higher grades. In particular, work
has centred on Serra do Corrego to test the extensions of
mineralization up dip towards surface. This potential has been
confirmed with the 2018 drill program and represents a significant
discovery. The mineralization is both shallow, hosted in the upper
200 metres, and near existing infrastructure (Figure 1).
Consequently, the Company is targeting inclusion of this up dip
extension into year-end 2018 inferred mineral resources. In the
second half of 2018, the Company will test if a similar setting
exists directly along strike at Morro de Cuscuz. Selected
highlights are presented in Figure 2.
During the first half of 2018, 8,719 metres of
drilling was completed to upgrade mineral resources (all
categories) at Canavieiras, Morro do Vento and João Belo. At João
Belo, the program has further validated the existing block model in
the drilled areas for the LVL, LMPC and MPC reefs while the results
(Figure 3) indicate the potential for higher grades in the LVL and
LMPC reefs. These intercepts are at the deepest levels at João
Belo.
At Morro do Vento (Figure 4), results to date
are confirming the mineral resource model (all categories) in all
reefs and at Canavieiras drill results for the Maneira reef (Figure
5) have intersected higher grade intersections and thicker
zones.
On the regional front, the conglomerate sequence
that hosts the mineralized bodies continues for 15.5 kilometres on
the Company’s property. Along this sequence several areas
have been identified as priority targets. In particular, the
João Belo Sur, Santa Cruz and Barrocao targets show promise for
further mineralized reefs based on surface samples and historic
workings. Scout drilling, with a priority on the João Belo
Sur target, is expected to identify opportunities to expand the
mineral envelope. Work will continue on these targets in late
2018.
CHAPADA, BRAZIL
Results to the end of the second quarter support
the potential for inferred and measured and indicated mineral
resource expansion at both Suruca and Sucupira/Baru by year end.
The discovery of higher grade mineralization at Hidrotermalito may
provide additional inferred oxide mineral resources as well as
higher grade near mine inferred sulphide mineral resources. New
intercepts at Santa Cruz indicate continuity of the Corpo Sul
system to the southwest with new intercepts of stockwork
mineralization.
The goals of the 2018 exploration program at
Chapada are as follows:
- Targeted exploration to test and
delineate opportunities for higher grade gold and copper
mineralization;
- Focus on identifying near-mine
inferred mineral resources, both for oxide and sulphide
mineralization; and
- Follow up on regional targets to
outline future opportunities for growth.
The Chapada complex has mineral reserves that
support a mine life in excess of 20 years. Given this long
mine life the primary focus of the exploration program is on
increasing gold grades in new inferred mineral resources.
Throughout the first half of 2018, the Company completed 14,778
metres of drilling in support of this objective, with drilling
focused on Suruca, Sucupira, Baru, and Santa Cruz.
At Suruca, drilling has been focused on four
primary targets:
1) Undrilled shallow areas outside of the
inferred mineral resource envelope – drilling has confirmed
mineralization with thicknesses and grades comparable with the
existing resource and is expected to lead to an increase in
inferred mineral resources;2) Northeast extension - successful
intercepts have expanded the mineral envelope to the northeast
indicating the system is still open with the potential for
additional focused drilling to expand the shallow inferred mineral
resources;3) Downdip extension - all completed drill holes have
intersected higher grade zones such as SU-1018 with 66 metres of
0.9 grams per tonne (“g/t”) of gold, extending the mineral envelope
to the NW;4) Hangingwall target - Hole SU-1000 intersected a new
mineralization zone intercepting 138 metres at 0.45 g/t gold,
including 42.7 metres of 1.05 g/t gold, hosted in Suruca hanging
wall rocks. This suggests the potential for another
mineralized zone within the Suruca system, which is expected to be
followed up later in 2018.
The work completed to date is expected to
increase inferred mineral resources and indicates that the mineral
envelope continues to expand. Cross sections of Suruca and drill
highlights from the first half of 2018 are shown in Figures 7 and
8. Overall, Suruca continues to support the Company’s view of a
large mineral system that contains both oxide and sulphide
mineralization. As these mineral resources expand further, Suruca
is expected to provide optionality with respect to future
development scenarios.
At Sucupira, drilling completed to date has
intercepted strong hydrothermal alteration, generally associated
with mineralization. Most assays from the first half drill program
are pending, though early highlights include hole NM-260 (99 metres
of 0.21g/t gold and 0.32% copper, including 11 metres of 0.53 g/t
gold and 0.47% copper), and extend the Sucupira mineral envelope to
the northwest.
At Baru, drilling completed to date focused on
the central part of the deposit. Most assays from the first six
months of 2018 are pending, though early drill results have
extended copper and gold mineralization at Baru, which is expected
to decrease the waste stripping ratio associated with the
extraction of Sucupira ore.
Figure 9 displays a cross section of Baru and
Sucupira demonstrating their continuity and relative placement to
the current Chapada mine. Figure 10 presents selected assays from
Sucupira and Baru.
At Santa Cruz, drilling has been executed in the
northwest sector of the target, where drill holes SC-23 and SC-24
have identified a continuous mineralized zone for 500 metres along
a Northeast-Southwest direction (Figure 11) related to high
density, A-type quartz veins and biotitic hydrothermal alteration.
These results are similar to those found at Corpo Sul and this is
the first time they have been intercepted at this target. Figure 12
presents selected assays from Santa Cruz. Results from Santa Cruz
appear promising and will be followed up.
In the first half of 2018, 3,432 metres of
drilling were completed in support of the objective to target
higher grade gold mineralization. The majority of the work has been
completed at Hidrotermalito, focusing on oxide and underlying
sulphide mineralization.
Hidrotermalito is within two kilometres of the
existing plant and may represent a copper-gold system with higher
grades than current Chapada mineral reserves. The deposit is open
to the west and thicker sections of the ore body have been
discovered but require follow up work to test for continuity. A
cross section of Hidrotermalito is shown in Figure 13. Many of the
assays are pending, but highlighted assay results returned to date
are shown in Figure 14.
The surface exploration program at Chapada
continues to build a pipeline of exploration targets. In
support of this goal, over 800 chip samples and over 3,500 soil
samples have been collected at several locations throughout the
property. In particular, Água Branca, Jacutinga, Pedra Preta,
Guará and Lambari have been identified as warranting follow up
work. Scout drilling will be completed on these targets over
the next 18 months.
MINERA FLORIDA, CHILE
In late 2016, Yamana acquired the Agua Fria
concessions and this area was the focus of exploration in late 2017
through the first half of 2018. Exploration continues to expand all
resource categories at higher grade than the LOM plan in the
Pataguas and PV Sur and Fantasma sectors. New surface discoveries
within the Agua Fria concessions continue to provide new targets
for future resource growthmine expansion.
The goals of the 2018 exploration program for
Minera Florida are:
- Expand measured, indicated and
inferred mineral resources by following up on recent exploration
success at Las Pataguas, PV Sur, Tribuna Este, Los Patos &
Volga; and
- Continue property surface
exploration program to identify new veins near the current mine
workings.
During the first half of 2018, the company
completed 30,930 metres in support of the goal to expand all
categories of mineral resources at Minera Florida and to generate
new exploration targets in the new Agua Fria concessions. Drilling
at PV Sur has enhanced the structural model and displays the
development of wider, multiple mineralized zones along the
intersection of the West- Northwest striking veins and north-south
faults (see Plan View, Figure 15). Results from Fantasma, PV Sur
and Don Leopoldo in the Pataguas area all indicate significant new
mineralized zones. Highlighted results from these zones are in
Figure 16. Infill drilling on the historic Core Mine area has also
yielded significant high-grade results, most notably at Centenario
Sur and Maquis Clavo II (Figure 17).The regional surface
exploration program has been progressing with a focus on Fantasma,
Las Lauras, Quesería, Mailen and Los Patos areas (Figure 16). As a
result of work completed to date, the results suggest the discovery
of at least five new veins. Work is currently ongoing to determine
if these newly discovered Northwest-Southeast trending veins are
intersected by North South structures, as historically this is
where significant mineralization has been discovered at Minera
Florida. It is expected that work to be undertaken in the second
half of 2018 will support these concepts and evaluate the economic
potential of these new targets.
EL PEÑÓN, CHILE
Exploration at El Peñón continues to
successfully upgrade inferred mineral resources to mineral reserve
status within the core mine area, which is expected to extend mine
life by, at a minimum, replacing depletion supporting long term
stable mine production.
The goals of the 2018 exploration program at El
Peñón are to:
- Expand all categories of measured, indicated & inferred
mineral resources;
- Test deep extensions of larger veins; and
- Test secondary structures to identify new core mine
opportunities.
Approximately 21,900 metres of drilling was
completed at El Peñón in the second quarter of 2018. Efforts
focused primarily on upgrading inferred mineral resources at the
Aleste, Bonanza, and Dorada sectors through infill drilling.
Overall, infill drilling has demonstrated positive results and is
expected to result in an upgrading to measured and indicated
mineral resources. Drill results from this program are presented in
Figure 18.
Outside of the core mine area, the district
exploration program is advancing through detailed mapping, sampling
and trenching activities. Drilling is expected to start in
the second half of 2018.
CERRO MORO, ARGENTINA
Results to the end of the second quarter suggest
that, by year end, new measured and indicated mineral resources on
the high -grade Veronica vein will replace mining depletion
associated with 2018 production. Several new vein intercepts
support modest growth of core mine inferred mineral resources,
while a strong surface program is successfully delineating new
drill targets for an anticipated long-term mine life extension.
The goals of the 2018 exploration program for
Cerro Moro are to:
- Expand measured and indicated mineral resources;
- Add Inferred mineral resources within the core mine; and
- Develop new targets with surface exploration that can be part
of the 2019 exploration drill program.
Approximately 13,800 metres of drilling was
completed at Cerro Moro in the second quarter of 2018. Focus was on
discovering new inferred mineral resources and converting existing
inferred mineral resources to measured and indicated mineral
resources, with the majority of the infill drilling completed on
the Veronica vein, which was discovered in 2017, the Escondida Far
East and Escondida Far West.
Successful results to date indicate drilling on
these veins will likely lead to measured and indicated mineral
resources that will replace mining depletion associated with 2018
production. Infill drilling highlights for Veronica are shown in
long section in Figure 19 displaying the high-grade shoot at the
western end of the new vein discovery. Selected assays are
presented in Figure 20.
Scout drilling was completed on several other
near mine targets and extensive surface work is ongoing to generate
future targets for follow up drilling. Encouraging results from
several new target areas are expected to develop into inferred
mineral resources with further drilling. The strong surface
exploration effort is providing new drill targets both within the
core mine area and the very large regional land package, increasing
the inventory of potential targets for future exploration.
Overall, exploration at Cerro Moro is
progressing toward the objective of increasing mine life by adding
new mineral reserves and mineral resources in all categories.
LAVRA VELHA, BRAZIL
The Lavra Velha project is an early-stage
gold-copper exploration project located in the central part of
Bahia State, Brazil, around 540 kilometres west of Salvador,
capital of Bahia.
The Lavra Velha project represents a regional
discovery and is believed to be an IOCG system characterized by
sub-horizontal mineralized levels (Figure 24). The mineralization
control at Lavra Velha suggests a close affinity to the
volcanic-plutonic contact that likely acted as a
structural/chemical boundary. To date Lavra Velha hosts an inferred
mineral resource of 3.9 million tonnes of 4.29 g/t containing
543,000 ounces of gold.
Recent surface work implies the footprint of
alteration and mineralization has the potential to be much larger
than originally thought (Figure 21). The 2018 objective is to test
many of these additional targets to identify a mineral envelope
capable of hosting a deposit of at least 1.0 million ounces with
open pittable grades greater than 2 g/t gold. Drilling is in
progress and results are anticipated to be received in by the end
of 2018.
FIGURES
For additional details and complete drill hole
results, refer to the Company’s website at www.yamana.com.
Figure 1: Jacobina - Serra Do Corrego Up
Dip Continuity (Looking
West)http://www.globenewswire.com/NewsRoom/AttachmentNg/8d665214-3237-4f48-9acf-71cf3e0303d8
Figure 2: Jacobina -
Serro do Corrego Selected Assays
Hole |
Sector |
Reef |
From(m) |
To(m) |
Interval(m)* |
Au (g/t) |
SCO610 |
S. Corrego |
Maneira |
92.50 |
94.50 |
2.00 |
1.57 |
SCO610 |
S. Corrego |
Holandes |
122.65 |
124.67 |
2.02 |
1.85 |
SCO610 |
S. Corrego |
Holandes |
152.00 |
153.37 |
1.37 |
1.89 |
SCO610 |
S. Corrego |
LVLPC |
217.30 |
218.50 |
1.20 |
6.89 |
SCO610 |
S. Corrego |
LVLPC |
219.50 |
221.88 |
2.38 |
2.14 |
SCO610 |
S. Corrego |
MU |
249.16 |
251.00 |
1.84 |
3.78 |
SCO612 |
S. Corrego |
Holandes |
124.00 |
126.00 |
2.00 |
1.24 |
SCO612 |
S. Corrego |
LU |
247.00 |
248.25 |
1.25 |
1.81 |
SCO612 |
S. Corrego |
LU |
256.22 |
256.50 |
0.28 |
7.69 |
SCO613 |
S. Corrego |
LVLPC |
119.50 |
120.84 |
1.34 |
2.22 |
SCO613 |
S. Corrego |
LVLPC |
133.08 |
134.04 |
0.96 |
2.7 |
SCO613 |
S. Corrego |
MU |
154.60 |
155.63 |
1.03 |
6.47 |
SCO615 |
S. Corrego |
LVL |
107.79 |
108.26 |
0.47 |
4.65 |
SCO615 |
S. Corrego |
LU |
175.50 |
180.00 |
4.50 |
2.12 |
SCO617 |
S. Corrego |
HOL |
111.63 |
113.64 |
2.01 |
2.66 |
SCO617 |
S. Corrego |
MSPC |
195.31 |
197.07 |
1.76 |
3.34 |
SCO617 |
S. Corrego |
LVL |
199.00 |
205.28 |
6.28 |
3.82 |
Incl. |
S. Corrego |
LVL |
200.95 |
202.50 |
1.55 |
11.38 |
SCO617 |
S. Corrego |
LVL |
209.50 |
216.05 |
6.55 |
2.31 |
Incl. |
S. Corrego |
LVL |
213.00 |
215.59 |
2.59 |
3.5 |
SCO617 |
S. Corrego |
MU |
238.70 |
241.50 |
2.80 |
6.96 |
SCO617 |
S. Corrego |
MU |
243.00 |
246.95 |
3.95 |
6.59 |
*Intervals represent at least 70% of true
widths
Figure 3: Jacobina - João Belo Selected
Assays
Hole |
Sector |
Reef |
From(m) |
To(m) |
Interval(m)* |
Au (g/t) |
JBA2206 |
J. Belo |
LVL |
54.80 |
58.50 |
3.70 |
2.00 |
JBA2206 |
J. Belo |
LVL |
92.98 |
94.00 |
1.02 |
2.78 |
JBA2206 |
J. Belo |
LM |
119.40 |
135.50 |
16.14 |
2.73 |
Incl. |
J. Belo |
LM |
127.00 |
129.50 |
2.50 |
7.95 |
JBA2207 |
J. Belo |
LVL |
74.31 |
78.00 |
3.69 |
2.39 |
JBA2207 |
J. Belo |
LVL |
111.40 |
116.00 |
4.63 |
2.78 |
JBA2207 |
J. Belo |
LVL |
129.30 |
131.00 |
1.67 |
4.75 |
JBA2207 |
J. Belo |
LM |
145.50 |
158.00 |
12.55 |
1.64 |
Incl. |
J. Belo |
LM |
149.00 |
152.00 |
3.00 |
2.95 |
JBA2211 |
J. Belo |
LVL |
75.48 |
79.50 |
4.02 |
1.83 |
JBA2211 |
J. Belo |
LVL |
89.00 |
109.50 |
20.50 |
2.64 |
Incl. |
J. Belo |
LVL |
89.35 |
92.00 |
2.65 |
6.49 |
Incl. |
J. Belo |
LVL |
93.50 |
96.90 |
3.40 |
6.84 |
JBA2217 |
J. Belo |
LVL |
69.92 |
76.06 |
6.14 |
5.62 |
Incl. |
J. Belo |
LVL |
69.92 |
72.18 |
2.26 |
14.20 |
JBA2217 |
J. Belo |
LM |
105.90 |
107.60 |
1.72 |
1.57 |
JBA2217 |
J. Belo |
LM |
133.80 |
140.00 |
6.18 |
2.96 |
JBA2221 |
J. Belo |
LVL |
68.92 |
80.50 |
11.58 |
1.78 |
Incl. |
J. Belo |
LVL |
70.50 |
72.50 |
2.00 |
5.78 |
JBA2221 |
J. Belo |
LM |
136.50 |
142.50 |
6.00 |
3.36 |
Incl. |
J. Belo |
LM |
138.50 |
141.00 |
2.50 |
6.60 |
JBA2181 |
J. Belo |
QTO |
89.50 |
91.50 |
2.00 |
14.78 |
JBA2197 |
J. Belo |
LVLPC |
159.5 |
162.2 |
2.78 |
10.97 |
Incl. |
J. Belo |
LVLPC |
159.5 |
160.5 |
1.05 |
27.33 |
|
|
|
|
|
|
|
*Intervals represent at least 70% of true
widths
Figure 4: Jacobina - Morro do
Vento Selected Assays
Hole |
Sector |
Reef |
From(m) |
To(m) |
Interval(m)* |
Au (g/t) |
MVT1532 |
M.Vento |
HW |
34.50 |
36.50 |
2.00 |
2.42 |
MVT1532 |
M.Vento |
MR |
86.00 |
93.00 |
7.00 |
1.55 |
MVT1532 |
M.Vento |
FW |
98.27 |
105.00 |
6.73 |
1.24 |
MVT1533 |
M.Vento |
MR |
101.30 |
106.00 |
4.75 |
19.53 |
MVT1533 |
M.Vento |
FW |
106.00 |
114.50 |
8.50 |
2.15 |
MVT1533 |
M.Vento |
FW |
116.60 |
125.00 |
8.41 |
2.98 |
MVT1540 |
M.Vento |
HW |
75.00 |
76.50 |
1.50 |
8.35 |
MVT1540 |
M.Vento |
MR |
118.90 |
123.10 |
4.14 |
1.69 |
Incl. |
M.Vento |
MR |
120.90 |
123.10 |
2.12 |
2.62 |
MVT1540 |
M.Vento |
FW |
126.30 |
129.50 |
3.20 |
1.57 |
MVT1541 |
M.Vento |
HW |
88.50 |
91.57 |
3.07 |
3.24 |
MVT1541 |
M.Vento |
MR |
92.24 |
94.70 |
2.46 |
3.65 |
MVT1541 |
M.Vento |
FW |
99.32 |
101.00 |
1.68 |
1.51 |
MVT1544 |
M.Vento |
HW |
65.00 |
66.00 |
1.00 |
1.84 |
MVT1544 |
M.Vento |
MR |
77.00 |
80.00 |
3.00 |
3.81 |
MVT1544 |
M.Vento |
MR |
81.10 |
83.00 |
1.90 |
2.77 |
MVT1516 |
M.Vento |
FW |
78.54 |
79.50 |
0.96 |
8.67 |
MVT1518 |
M.Vento |
FW |
33.00 |
35.50 |
2.50 |
1.83 |
MVT1518 |
M.Vento |
FW |
50.37 |
52.50 |
2.13 |
4.97 |
MVT1518 |
M.Vento |
FW |
55.50 |
73.00 |
17.50 |
1.25 |
Incl. |
M.Vento |
FW |
68.00 |
68.50 |
0.50 |
4.39 |
MVT1524 |
M.Vento |
FW |
51.50 |
52.58 |
1.08 |
4.17 |
|
|
|
|
|
|
|
*Intervals represent at least 70% of true
widths
Figure 5: Jacobina - Maneira Reef
Selected Assays
Hole |
Sector |
Reef |
From(m) |
To(m) |
Interval(m)* |
Au (g/t) |
CAN1065 |
CAC |
MAN |
26.90 |
28.50 |
1.60 |
3.18 |
CAN1065 |
CAC |
MAN |
60.40 |
61.45 |
1.05 |
15.93 |
CAN1068 |
CAC |
MAN |
74.50 |
86.19 |
11.69 |
4.51 |
CAN1068 |
CAC |
MAN |
83.50 |
86.19 |
2.69 |
8.94 |
CAN1070 |
CAC |
MAN |
38.12 |
40.05 |
1.93 |
10.31 |
CAN1064 |
CAC |
MAN |
101.02 |
103.50 |
2.48 |
13.95 |
CAN1052 |
CAC |
MAN |
62.00 |
64.50 |
2.50 |
6.45 |
Incl. |
CAC |
MAN |
62.00 |
63.10 |
1.10 |
11.07 |
|
|
|
|
|
|
|
*Intervals represent at least 70% of true widths.
Figure 6: Jacobina - Morro do Vento Long Section
(Looking
West)http://www.globenewswire.com/NewsRoom/AttachmentNg/0897a69b-f144-461f-8280-0981c695aed6
Figure 7: Chapada - Suruca Cross Section
(Looking
West)http://www.globenewswire.com/NewsRoom/AttachmentNg/dc17bf4d-a797-45ca-bfe6-6731f90ed1be
Figure 8: Chapada - Suruca Selected
Assays
Hole |
Sector |
From(m) |
To(m) |
Interval(m)* |
Au (g/t) |
Estimated True Width (m) |
Type |
SU-1000** |
SURUCA |
42.00 |
180.00 |
138.00 |
0.45 |
75.35 |
Sulphide |
Including |
SURUCA |
42.00 |
84.27 |
42.27 |
1.05 |
21.10 |
Sulphide |
SU-1000** |
SURUCA |
265.00 |
390.38 |
125.38 |
0.55 |
68.25 |
Sulphide |
Including |
SURUCA |
352.00 |
362.00 |
10.00 |
2.54 |
5.40 |
Sulphide |
SU-1005 |
SURUCA |
44.96 |
73.00 |
28.04 |
0.26 |
|
Sulphide |
Including |
SURUCA |
67.00 |
73.00 |
6.00 |
0.58 |
|
Sulphide |
SU-1005 |
SURUCA |
95.00 |
127.00 |
32.00 |
0.41 |
|
Sulphide |
Including |
SURUCA |
98.00 |
107.00 |
9.00 |
1.02 |
|
Sulphide |
SU-1008 |
SURUCA |
31.96 |
92.00 |
60.04 |
0.19 |
|
Sulphide |
Including |
SURUCA |
76.56 |
88.00 |
11.44 |
0.48 |
|
Sulphide |
SU-1008 |
SURUCA |
110.00 |
145.87 |
35.87 |
0.28 |
|
Sulphide |
Including |
SURUCA |
115.30 |
128.60 |
13.30 |
0.48 |
|
Sulphide |
SU-1010 |
SURUCA |
298.00 |
424.00 |
126.00 |
0.62 |
|
Sulphide |
Including |
SURUCA |
391.80 |
418.00 |
26.20 |
1.10 |
|
Sulphide |
SU-1013 |
SURUCA |
32.43 |
41.00 |
8.57 |
0.45 |
|
Sulphide |
SU-1013 |
SURUCA |
61.46 |
87.00 |
25.54 |
0.49 |
|
Sulphide |
Including |
SURUCA |
63.84 |
79.00 |
15.16 |
0.69 |
|
Sulphide |
SU-1018 |
SURUCA |
238.00 |
304.00 |
66.00 |
0.90 |
|
Sulphide |
*Intervals represent at least 80% of true width
unless otherwise noted.
Figure 9: Chapada -
Sucupira and Baru Cross Section (Looking
Northeast)http://www.globenewswire.com/NewsRoom/AttachmentNg/f4b6d5dc-17c3-4ea7-9709-87875a4f056f
Figure 10: Chapada - Sucupira and Baru
Selected Assays
Hole |
Sector |
From(m) |
To(m) |
Interval(m)* |
Au (g/t) |
Cu (%) |
Type |
NM-260 |
SUCUPIRA |
74.00 |
82.00 |
8.00 |
0.10 |
0.14 |
Sulphide |
NM-260 |
SUCUPIRA |
92.16 |
105.94 |
13.78 |
0.16 |
0.19 |
Sulphide |
Including |
SUCUPIRA |
98.00 |
105.94 |
7.94 |
0.23 |
0.23 |
Sulphide |
NM-260 |
SUCUPIRA |
208.00 |
307.24 |
99.24 |
0.21 |
0.32 |
Sulphide |
Including |
SUCUPIRA |
271.00 |
282.00 |
11.00 |
0.53 |
0.47 |
Sulphide |
NM-262 |
SUCUPIRA |
92.00 |
164.00 |
72.00 |
0.19 |
0.17 |
Sulphide |
Including |
SUCUPIRA |
107.00 |
117.00 |
10.00 |
0.39 |
0.24 |
Sulphide |
Including |
SUCUPIRA |
152.13 |
159.00 |
6.87 |
0.69 |
0.4 |
Sulphide |
NM-256 |
BARU |
61.20 |
108.00 |
46.80 |
0.1 |
0.29 |
Sulphide |
Including |
BARU |
71.00 |
90.00 |
19.00 |
0.12 |
0.31 |
Sulphide |
Including |
BARU |
100.00 |
108.00 |
8.00 |
0.12 |
0.35 |
Sulphide |
NM-258 |
BARU |
73.00 |
142.61 |
69.61 |
0.13 |
0.29 |
Sulphide |
Including |
BARU |
104.00 |
126.00 |
22.00 |
0.22 |
0.47 |
Sulphide |
*Sucupira and Baru intervals represents
approximate true width.
Figure 11: Chapada - Santa Cruz Selected
Assays
Hole |
Sector |
From(m) |
To(m) |
Interval(m)* |
Au (g/t) |
Cu (%) |
Type |
SC-22 |
SANTA CRUZ |
40.82 |
86.74 |
45.92 |
- |
0.15 |
Sulphide |
Including |
SANTA CRUZ |
79.57 |
86.74 |
7.17 |
0.10 |
0.27 |
Sulphide |
SC-23 |
SANTA CRUZ |
139.56 |
178.56 |
39.00 |
0.19 |
0.39 |
Sulphide |
Including |
SANTA CRUZ |
150.00 |
157.00 |
7.00 |
0.23 |
0.45 |
Sulphide |
Including |
SANTA CRUZ |
165.23 |
177.00 |
11.77 |
0.2 |
0.43 |
Sulphide |
SC-24 |
SANTA CRUZ |
126.52 |
172.00 |
45.48 |
0.15 |
0.38 |
Sulphide |
Including |
SANTA CRUZ |
128.00 |
136.81 |
8.81 |
0.21 |
0.44 |
Sulphide |
Including |
SANTA CRUZ |
143.04 |
153.00 |
9.96 |
0.31 |
0.65 |
Sulphide |
*Intervals represent approximate true width.
Figure 12: Chapada -
Plan Map Displaying 500m Strike Of Santa Cruz
Systemhttp://www.globenewswire.com/NewsRoom/AttachmentNg/d995def6-cf67-437f-b2d2-acc7012d92c8
Figure 13: Chapada -
Plan Map and Cross Section of Hidrotermalito Mineralization
Envelopehttp://www.globenewswire.com/NewsRoom/AttachmentNg/20f2514f-f8b4-498d-9539-556f5dbcb761
Figure 14: Chapada -
Hidrotermalito Selected Assays
Hole |
Sector |
From(m) |
To(m) |
Interval(m)* |
Au (g/t) |
Cu (%) |
Type |
HS-70 |
HIDROTERMALITO |
0.00 |
16.97 |
16.97 |
0.19 |
- |
Oxide |
HS-70 |
HIDROTERMALITO |
46.00 |
67.00 |
21.00 |
0.33 |
0.1 |
Sulphide |
Including |
HIDROTERMALITO |
46.00 |
56.00 |
10.00 |
0.52 |
0.14 |
Sulphide |
HS-66 |
HIDROTERMALITO |
0.00 |
34.47 |
34.47 |
0.37 |
0.01 |
Oxide |
Including |
HIDROTERMALITO |
0.64 |
13.00 |
12.36 |
0.61 |
0.01 |
Oxide |
Including |
HIDROTERMALITO |
31.00 |
34.47 |
3.47 |
0.57 |
0.01 |
Oxide |
*Intervals represent approximate true width
Figure 15: Minera Florida - Plan View of PV
Surhttp://www.globenewswire.com/NewsRoom/AttachmentNg/c3ff89ae-4f57-4593-b4bf-3386b7102efb
Figure 16: Minera Florida - Don Leopold, Fantasma &
PV Sur Selected Assays
Hole |
Vein |
From(m) |
To(m) |
Length(m)* |
Au (g/t) |
Ag (g/t) |
Zn (%) |
ALH2414 |
Don Leopoldo |
134.95 |
139.75 |
4.80 |
10.85 |
12 |
1.02 |
ALH2398 |
Don Leopoldo |
137.30 |
143.30 |
6.00 |
3.63 |
24 |
1.67 |
ALH2411 |
Fantasma Oeste |
113.10 |
116.10 |
3.00 |
8.55 |
21 |
1.59 |
ALH2431 |
Fantasma Oeste |
106.00 |
106.75 |
0.75 |
10.15 |
21 |
0.81 |
ALH2379 |
Fantasma Oeste |
88.90 |
92.20 |
3.30 |
9.39 |
13 |
1.61 |
ALH2385 |
Fantasma Oeste |
94.45 |
96.95 |
2.50 |
9.37 |
12 |
0.74 |
ALH2360 |
Satelite Fantasma |
72.72 |
73.05 |
0.33 |
58.30 |
10 |
0.14 |
ALH2360 |
Satelite Fantasma |
82.60 |
82.80 |
0.20 |
8.29 |
5 |
0.20 |
ALH2360 |
Satelite Fantasma |
89.20 |
89.65 |
0.45 |
13.00 |
56 |
1.70 |
ALH2363 |
Satelite Fantasma |
28.55 |
28.95 |
0.40 |
8.98 |
21 |
0.28 |
ALH2365 |
Satelite Fantasma |
158.39 |
159.15 |
0.76 |
11.70 |
945 |
1.37 |
ALH2304 |
PVSur |
119.04 |
121.64 |
2.60 |
5.54 |
15 |
2.31 |
ALH2308 |
PVSur |
11.35 |
12.05 |
0.70 |
8.33 |
8 |
3.77 |
ALH2322 |
PVSur |
88.03 |
89.63 |
1.60 |
11.53 |
11 |
3.33 |
ALH2333 |
PVSur |
82.00 |
84.20 |
2.20 |
11.03 |
15 |
7.90 |
|
|
|
|
|
|
|
|
* Intervals represent at least 80% of true widths
Figure 17: Minera Florida - Centenario Sur & Maquis
Clavo II Selected Assays
Hole |
Vein |
From(m) |
To(m) |
Length(m)* |
Au (g/t) |
Ag (g/t) |
Zn (%) |
ALH2399 |
Centenario Sur |
46.30 |
50.64 |
4.34 |
8.78 |
21 |
1.35 |
ALH2400 |
Centenario Sur |
47.10 |
50.90 |
3.80 |
10.31 |
16 |
1.33 |
ALH2407 |
Centenario Sur |
54.75 |
57.05 |
2.30 |
12.60 |
20 |
1.19 |
ALH2410 |
Centenario Sur |
61.10 |
67.35 |
6.25 |
9.13 |
23 |
2.22 |
ALH2441 |
Maquis Clavo II |
64.75 |
66.70 |
1.95 |
12.98 |
35 |
6.44 |
ALH2466 |
Maquis Clavo II |
0.00 |
2.10 |
2.10 |
4.21 |
21 |
1.27 |
|
|
|
|
|
|
|
|
* Intervals represent at least 80% of true
widths
Figure 18: El Peñón - Aleste, Bonanza
& Dorada Selected Assays
Hole |
Sector |
From(m) |
To(m) |
Interval(m)* |
Au (g/t) |
Ag (g/t) |
SAI0153C |
Aleste SS |
309.67 |
311.40 |
0.9 |
117.00 |
5,988 |
SAI0154C |
Aleste SS |
302.26 |
302.95 |
0.5 |
9.21 |
508 |
SAI0158P |
Aleste SS |
273.00 |
276.00 |
1.3 |
28.30 |
1,470 |
SQI0021C |
Angelina |
430.28 |
439.60 |
4.3 |
15.50 |
286 |
UIB0032 |
Bonanza NN3 |
88.50 |
89.40 |
0.9 |
19.40 |
91 |
UIB0033 |
Bonanza NN3 |
111.00 |
113.90 |
1.4 |
12.03 |
358 |
UIB0034 |
Bonanza NN3 |
168.43 |
169.65 |
0.4 |
11.40 |
63 |
UIB0039 |
Bonanza NN3 |
114.08 |
114.38 |
0.3 |
16.90 |
8 |
UIB0040 |
Bonanza NN3 |
183.28 |
187.87 |
1.1 |
7.90 |
40 |
UID0234 |
Dorada |
154.00 |
156.09 |
2.0 |
7.08 |
318 |
UED0032 |
Dorada Este |
112.64 |
115.00 |
1.7 |
50.81 |
2,460 |
UID0236 |
Dorada FW |
164.00 |
165.00 |
0.9 |
10.90 |
568 |
SOI0082C |
Dorada FW W |
241.00 |
243.00 |
0.3 |
7.300 |
1,198 |
SOI0083P |
Dorada FW W |
204.00 |
208.00 |
1.6 |
11.8 |
619 |
*Intervals represent at least 80% of true widths
Figure 19: Cerro Moro - Veronica Cross Section July 2018
(Looking
Northeast)http://www.globenewswire.com/NewsRoom/AttachmentNg/861e0b05-dede-4b1c-911d-f76d727d3dd5
Figure 20: Cerro Moro - Veronica Selected
Assays
Hole |
Sector |
From(m) |
To(m) |
Interval(m)* |
Au (g/t) |
Ag (g/t) |
MD2453 |
Veronica |
95.0 |
95.5 |
0.5 |
10.25 |
980 |
MD2453 |
Veronica |
98.5 |
99.1 |
0.6 |
28.83 |
3,265 |
MD2454 |
Veronica |
119.2 |
120.3 |
1.1 |
61.24 |
2,368 |
MD2467 |
Veronica |
148.9 |
150.7 |
1.8 |
8.15 |
430 |
MD2478 |
Veronica |
37.9 |
41.4 |
3.5 |
11.01 |
711 |
T0182 |
Veronica |
4.5 |
10.7 |
6.3 |
10.27 |
675 |
|
|
|
|
|
|
|
* Intervals represent at least 80% of true widths
Figure 21: Lavra Velha Mineralized Lens’ Relative to
Potential Pit Shell (Looking
East)http://www.globenewswire.com/NewsRoom/AttachmentNg/3c5c14e7-25bc-4246-b90e-3c39672246e5
Figure 22: Lavra Velha Plan Map Displaying Regional
Targetshttp://www.globenewswire.com/NewsRoom/AttachmentNg/caa4233e-f114-4a0b-bf4d-c5b4b5f70dba
Qualified Persons
Scientific and technical information contained
in this press release has been reviewed and approved by Henry
Marsden (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. He has also
reviewed and verified that the technical information related to the
properties contained in this news release is
accurate.
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 is completed on site prior to shipping to ALS
analytical facilities. Au is analysed by gold fire assay with 30g
or 50 g aliquot and AAS finish. Samples over 5 g/t are re-analyzed
by gravimetric finish methods. Ag is determined using a four acid
digestion and AAS finish (ore level) and samples over 30g/t are
re-analyzed by gravimetric finish methods. Cu is also determined
with four acid digestion and AAS finish. Five percent of all pulps
are further checked by secondary certified laboratories (Intertek,
SGS) 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. 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 is a Canadian-based gold producer with
significant gold production, gold 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 existing operating mine
expansions and optimization initiatives, development of new mines,
the advancement of its exploration properties and, at times, by
targeting other gold consolidation opportunities with a primary
focus in the Americas.
FOR FURTHER INFORMATION PLEASE CONTACT:Investor Relations and
Corporate Communications416-815-02201-888-809-0925Email:
investor@yamana.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS: This news release contains
“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 the Company’s strategy, plans or future
financial or operating performance, including continued
advancements at Jacobina, Chapada, Minera Florida, El Peñón, Cerro
Moro and Lavra Velha, the potential for future additions to mineral
resources and mineral reserves, expected upgrades from mineral
resources to mineral reserves, plans to increase mine life and
increase production, expected exploration results and mine
extensions. 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 Company’s expectations in connection with the
production and exploration, development and expansion plans at the
Company's projects discussed herein being met, the impact of
proposed optimizations at the Company's projects, changes in
national and local government legislation, taxation, controls or
regulations and/or changes in the administration or laws, policies
and practices, and 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 and zinc), currency exchange rates (such as
the Brazilian real, the Chilean peso, and the Argentine peso versus
the United States dollar), the impact of inflation, possible
variations in ore grade or recovery rates, changes in the Company’s
hedging program, changes in accounting policies, changes in mineral
resources and mineral reserves, risks related to asset disposition,
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 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 Company's Annual Information Form
filed with the securities regulatory authorities in all provinces
of Canada and available at www.sedar.com, and the Company’s Annual
Report on Form 40-F filed with the United States Securities
and Exchange Commission. Although the Company has 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 Company undertakes 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 Company’s expected
financial and operational performance and results as at and for the
periods ended on the dates presented in the Company’s plans and
objectives and may not be appropriate for other purposes.
CAUTIONARY NOTE TO UNITED STATES INVESTORS
CONCERNING ESTIMATES OF MEASURED, INDICATED AND INFERRED MINERAL
RESOURCES
This news release uses the terms “Mineral
Resource”, “Measured Mineral Resource”, “Indicated Mineral
Resource” and “Inferred Mineral Resource” are defined in and
required to be disclosed by National Instrument 43-101.
However, these terms are not defined terms under Industry Guide 7
and are not permitted to be used in reports and registration
statements of United States companies filed with the
Commission. Investors are cautioned not to assume that any
part or all of the mineral deposits in these categories will ever
be converted into Mineral Reserves. “Inferred Mineral
Resources” have a great amount of uncertainty as to their
existence, and great uncertainty as to their economic and legal
feasibility. It cannot be assumed that all or any part of an
Inferred Mineral Resource will ever be upgraded to a higher
category. Under Canadian rules, estimates of Inferred Mineral
Resources may not form the basis of feasibility or pre-feasibility
studies, except in rare cases. Investors are cautioned not to
assume that all or any part of an Inferred Mineral Resource exists
or is economically or legally mineable. Disclosure of
“contained ounces” in a Mineral Resource is permitted disclosure
under Canadian regulations. In contrast, the Commission only
permits U.S. companies to report mineralization that does not
constitute “Mineral Reserves” by Commission standards as in place
tonnage and grade without reference to unit measures.
Accordingly, information contained in this news release may not be
comparable to similar information made public by U.S. companies
subject to the reporting and disclosure requirements under the
United States federal securities laws and the rules and
regulations of the Commission thereunder.
(Unless otherwise stated, all assays are uncut
and intercepts represent 80% of true width)
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