YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or “the Company”)
today announced exploration results for the El Peñón and Minera
Florida mines.
Exploration Highlights, El
Peñón
- Developed a new structural
interpretation of faulting in the Angelina sector of the Deep Orito
vein in 2019 that has been confirmed by drilling. Drilling
intercepted wide, high-grade intervals of mineralization,
indicating excellent potential for mineral reserve and mineral
resource growth with the potential to further extend mine
life.
- Discovered a second vein at the
Laguna satellite deposit with significant intervals over good
widths.
- Ongoing exploration and infill
drilling of secondary veins in the core mine have produced good
results from a number of structures, including Sorpresa, Dorada,
and Aleste.
- Completed a machine-learning study
in mid-2019 with GoldSpot Discoveries Inc. (“GoldSpot”) that
generated numerous exploration targets that are advancing via
systematic surface exploration.
El Peñón is a long life operation with decades
of production. Historically, mine life has extended beyond mineral
reserves at any given point in time. Year-over-year
replacement of mined and depleted mineral resources has established
a much longer mine life than suggested by mineral reserves alone.
This is expected to continue. The new discoveries continue to
demonstrate that the exploration potential at El Peñón remains
significant and mine life will exceed currently estimated mineral
reserves.
“The El Peñón mine entered production in 1999
with an estimated life of five years,” said Henry Marsden, Senior
Vice President of Exploration at Yamana. “That was 20 years ago,
and the operation’s mineral reserves are nearly the same today as
they were then. Year after year, El Peñón recoups its mineral
depletion and, based on the positive results that we are seeing, we
believe this will continue for many years to come.”
Exploration Highlights, Minera
Florida
- Drilling in the consolidated Minera
Florida property generated strong results, including new veins at
better than life-of-mine grades, indicating excellent potential to
replace mining depletion by year-end.
- The PV Sur-Fantasma corridor
continues to grow, with positive drill intercepts in a new
discovery located between the two known mineralized zones. These
intervals are considerably higher grade than life-of-mine
grade.
- Intercepts in the Bandolera zone,
located east of the Maqui fault, demonstrate potential for new
discoveries in an underexplored sector of the property.
“We are making good progress at Minera Florida
in several different areas of the property,” Marsden said. “And
while it often takes time for an exploration program to bear fruit
— our Jacobina mine being a prime example of this — we are
confident that the potential provided by the property consolidation
completed in 2017 at Minera Florida will translate into significant
new mineral reserves and mineral resources.”
EL PEÑÓN EXPLORATION
UPDATEDrilling results at El Peñón suggest steady
year-over-year growth in mineral reserves and mineral resources.
The goal of the mine’s exploration program is to continue to
replace mineral depletion on an annual basis and continue
exploration for a significant new vein. Just over 100,000 metres
have been drilled year to date.
Drilling to test a new structural interpretation
of low-angle fault displacements has resulted in several new, wide
vein intercepts in the Angelina sector of the Deep Orito vein. This
targeted discovery intercepted wide, high-grade intervals of
mineralization, indicating excellent potential for mineral reserve
and mineral resource growth with the potential to further extend
mine life. Among the more notable results at Deep Orito are hole
UIO0064, which intersected 32.40 grams per tonne (“g/t”) of gold
and 169 g/t of silver across 4.70 metres (horizontal width), and
hole UIO0073, which intersected 27.92 g/t of gold and 35 g/t of
silver across 3.90 metres (horizontal width). See Table 1 for
select drill results at Angelina and Figure 1 for a long-section
view of those results. Figure 2 provides a cross section through
Deep Orito showing the fault displacement of the mineralized
structure at depth.
Exploration of the Laguna satellite deposit,
which is being prepared for production, has delineated a second
vein, Laguna Oeste, with significant intervals over good widths.
Drilling highlights from this zone include hole SDL0031, which
intersected 55.24 g/t of gold and 813 g/t of silver over 3.34
meters (horizontal width). Table 2 provides select drill results
for Laguna Oeste with a long-section view provided in Figure 3.
Core mine exploration continues to define new
secondary veins with good mineral resource growth potential in
several areas. The best results have come from the Aleste, Dorada
and Sorpresa sectors. Notable results include hole UIA0179 at
Aleste, which intersected 166.90 g/t of gold and 10,538 g/t of
silver over 1.31 metres (horizontal width); hole UID0253 at Dorada,
which intersected 71.30 g/t of gold and 5,736 g/t of silver over
1.00 metres (horizontal width); and hole SNX0931 at Sorpresa, which
intersected 11.70 g/t of gold and 226 g/t of silver over 2.60
metres (horizontal width). See Table 3 for additional drill results
from the core mine area.
In late 2018, Yamana partnered with GoldSpot to
complete an exhaustive evaluation of historical mine data compiled
by El Peñón, including extensive collections of geophysical data,
drill information, and surface and sub-surface geochemistry and
geology. GoldSpot, a Canadian-based company that leverages machine
learning to improve exploration targeting, worked closely with El
Peñón to create a predictive lithological map to identify new drill
targets. The study has provided a number of site-specific vein
targets on surface and in the sub-surface core mine area that are
being prioritized through follow-up sampling and mapping for drill
testing in early 2020.
Table 1: Angelina (Deep Orito) new
drilling intercepts, select intervals
≥ 10.0 gram*metres (gold
g/t multiplied by horizontal width in metres)
Hole |
Sector |
From (m) |
To (m) |
Interval (m) |
Horizontal Width (m) |
Gold (g/t) |
Silver (g/t) |
UIO0064 |
Angelina |
63.50 |
72.30 |
8.80 |
4.70 |
32.40 |
169 |
UIO0073 |
Angelina |
127.85 |
144.70 |
16.85 |
3.90 |
27.92 |
35 |
UIO0075 |
Angelina |
116.86 |
121.76 |
4.90 |
1.90 |
21.01 |
48 |
UIO0067 |
Angelina |
98.50 |
108.00 |
9.50 |
3.10 |
10.10 |
48 |
UIO0065 |
Angelina |
107.20 |
114.90 |
7.70 |
4.57 |
4.82 |
38 |
UIO0068 |
Angelina |
112.40 |
120.20 |
7.80 |
2.20 |
7.87 |
35 |
UIO0060 |
Orito W |
152.62 |
155.98 |
3.36 |
2.80 |
5.39 |
233 |
UIO0070 |
Angelina |
70.45 |
73.70 |
3.25 |
1.24 |
12.10 |
97 |
UIO0072 |
Angelina |
110.80 |
117.50 |
6.70 |
2.10 |
5.81 |
33 |
|
|
|
|
|
|
|
|
Figure 1: Angelina long section (looking
east) showing select drilling results in the Deep Orito
target is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/95d22d4e-eb70-47bf-a0df-76af91270a72.
Drilling results shown as gold (g/t), silver (g/t) over horizontal
width (m)
Figure 2: Cross section (looking north)
showing fault displacement of mineralized structure, Deep
Orito is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/c0e35412-abf2-4f3e-b667-a2578ce86fd3.
Drilling results shown as gold (g/t), silver (g/t) over horizontal
width (m)
Table 2: Laguna new drilling intercepts,
select intervals ≥
10.0 gram*metres (gold g/t multiplied by
horizontal width in metres)
Hole |
Sector |
Including |
From (m) |
To (m) |
Interval (m) |
Horizontal Width (m) |
Gold (g/t) |
Silver (g/t) |
SDL0031 |
Laguna Oeste |
|
132.50 |
136.50 |
4.00 |
3.34 |
55.24 |
813 |
incl. |
133.00 |
134.50 |
1.50 |
1.25 |
132.88 |
1992 |
SLI0097 |
Laguna Oeste |
|
149.60 |
150.34 |
0.74 |
0.73 |
66.80 |
1136 |
SDL0025 |
Laguna Oeste |
|
79.00 |
81.50 |
2.50 |
1.80 |
43.70 |
439 |
SLI0077 |
Laguna |
|
179.92 |
181.60 |
1.68 |
1.50 |
35.90 |
266 |
SLI0080 |
Laguna |
|
200.73 |
202.40 |
1.67 |
1.24 |
26.70 |
461 |
SDL0033 |
Laguna Oeste |
|
113.50 |
117.00 |
3.50 |
3.20 |
17.00 |
201 |
SDL0034 |
Laguna Oeste |
|
136.00 |
138.50 |
2.50 |
1.90 |
15.70 |
234 |
SDL0036 |
Laguna Oeste |
|
111.00 |
113.00 |
2.00 |
1.70 |
14.70 |
75 |
SLI0082 |
Laguna |
|
183.00 |
184.35 |
1.35 |
1.02 |
16.03 |
173 |
SLI0090 |
Laguna Oeste |
|
176.60 |
177.50 |
0.90 |
0.77 |
20.30 |
53 |
SDL0016 |
Laguna Oeste |
|
85.00 |
86.50 |
1.50 |
1.06 |
11.52 |
99 |
SEL0003 |
Laguna Oeste |
|
130.00 |
134.00 |
4.00 |
3.46 |
10.10 |
108 |
|
|
|
|
|
|
|
|
|
Figure 3: Laguna Oeste long section
(looking east) showing select drilling results is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/cffd7229-4f8e-421d-9545-fcbfdf18f54c.
Drilling results shown as gold (g/t), silver (g/t) over horizontal
width (m)
Table 3: Core mine new
drilling intercepts, select intervals ≥
20.0 gram*metres (gold g/t multiplied by
horizontal width in metres)
Hole |
Sector |
Including |
From (m) |
To (m) |
Interval (m) |
Horizontal Width (m) |
Gold (g/t) |
Silver (g/t) |
UIA0179 |
Aleste |
|
106.75 |
108.50 |
1.75 |
1.31 |
166.90 |
10,538 |
UIA0178 |
Aleste |
|
126.68 |
128.00 |
1.32 |
0.91 |
78.30 |
4,058 |
UEA0075 |
Aleste |
|
185.20 |
188.80 |
3.60 |
1.00 |
50.04 |
4,145 |
SAI0165 |
Aleste |
|
324.40 |
328.48 |
4.08 |
2.10 |
22.46 |
1,139 |
SAI0163 |
Aleste |
|
343.00 |
346.00 |
3.00 |
2.18 |
16.60 |
1,081 |
incl. |
343.00 |
345.00 |
2.00 |
1.45 |
24.40 |
1,551 |
SAI0167 |
Aleste |
|
296.00 |
298.00 |
2.00 |
1.05 |
31.40 |
1,864 |
SAI0171 |
Aleste |
|
264.50 |
266.30 |
1.80 |
0.91 |
35.67 |
2,085 |
SAI0174 |
Aleste |
|
272.08 |
273.42 |
1.34 |
0.91 |
30.80 |
3,720 |
SAI0168 |
Aleste |
|
277.10 |
278.30 |
1.20 |
0.63 |
41.79 |
1,473 |
UEA0076 |
Aleste |
|
134.55 |
137.00 |
2.45 |
1.85 |
13.50 |
930 |
UID0253 |
Dorada Este |
|
133.43 |
134.64 |
1.21 |
1.00 |
71.30 |
5,736 |
UID0270 |
Dorada Este |
|
148.57 |
150.05 |
1.48 |
1.12 |
35.69 |
1,879 |
UID0266 |
Dorada Este |
|
146.10 |
147.10 |
1.00 |
0.80 |
40.30 |
3,748 |
UID0298 |
Dorada Este |
|
206.10 |
207.40 |
1.30 |
1.30 |
22.40 |
1,482 |
SOI0091 |
Dorada Sigmoide |
|
337.80 |
339.40 |
1.60 |
0.70 |
36.00 |
246 |
UID0272 |
Dorada Este |
|
56.78 |
58.09 |
1.31 |
1.10 |
20.60 |
1,309 |
SNX0931 |
Sorpresa |
|
320.40 |
323.60 |
3.20 |
2.60 |
11.70 |
226 |
incl. |
320.40 |
322.10 |
1.70 |
1.38 |
18.80 |
370 |
SSI0060 |
Sorpresa |
|
311.10 |
314.00 |
2.90 |
2.59 |
11.68 |
366 |
SSI0057 |
Sorpresa |
|
268.10 |
271.50 |
3.40 |
2.60 |
10.60 |
421 |
SNX0921 |
Sorpresa |
|
282.00 |
286.00 |
4.00 |
3.24 |
8.95 |
703 |
SNX0888 |
Sorpresa |
|
356.50 |
357.50 |
1.00 |
0.74 |
28.35 |
1,031 |
UEI0016 |
Victoria W |
|
147.90 |
152.63 |
4.73 |
3.60 |
21.07 |
107 |
STI0157 |
Ventura |
|
311.56 |
321.30 |
9.74 |
3.20 |
18.00 |
903 |
SEI0089 |
Esmeralda S |
|
304.21 |
306.00 |
1.79 |
1.11 |
51.50 |
2,865 |
|
|
|
|
|
|
|
|
|
MINERA FLORIDA EXPLORATION
UPDATEDrilling at Minera Florida continues to indicate
potential to provide year-on-year growth of mineral reserves and
mineral resources in the historic core mine as well as in several
productive corridors that have been explored since consolidating
the Agua Fria concessions in 2017. The property consolidation
completed in 2017 facilitated the development of complete
interpretive targets in both the PV Sur-Fantasma corridor and the
Patagua-Don Leopoldo corridor. These new sectors of the mine are
producing good results at better than life-of-mine grade.
Exploration continues to delineate new veins at better than
life-of-mine grade. See Figure 4 for a plan map of the consolidated
Yamana properties.
A new geological model that recognizes ore
shoots controlled at intersections between known west-northwest
striking veins and north-south striking faults is generating new
targets, including a new zone located between PV Sur and Fantasma.
Figure 5 provides a long section view of the PV Sur-Fantasma
structure, highlighting high-grade drill intercepts that suggest
continuity of the major structure between PV Sur and Fantasma.
Table 4 provides select new drill intercepts, including the PV Sur,
Fantasma, and Don Leopoldo veins. These intervals are at
considerably higher grade than the life-of-mine grade of 3.5 g/t of
gold, and new mineral resources are expected to provide new areas
of better grade for the operation.
Initial exploration work west of the Maqui fault
is testing a down-dropped structural block in this area and results
from Bandolera demonstrate good potential in this little explored
area. Ongoing surface work continues to define new veins and
increase the long-term potential of the area.
The 2019 drill program at Minera Florida has
been designed to replace depletion in the core mine and use surface
exploration and data modelling to generate new targets. While the
Company believes this program will deliver on its objectives this
year, and drill results to date are encouraging, Minera Florida
will require more years of exploration successes and considerable
efforts at development of newly discovered and prospective areas in
order to deliver positive free cash flow and returns. The Company
continues to work with its local community representatives on
right-sizing and optimizing the operation as the exploration and
drilling effort continues.
Table 4: Minera Florida new drilling
intercepts, selected for intervals ≥
10.0 gram*metres (gold g/t multiplied by horizontal width
in metres)
Hole |
Vein |
Including |
From (m) |
To (m) |
Interval (m) |
Horizontal Width (m) |
Gold (g/t) |
Silver (g/t) |
Zinc (%) |
ALH2739 |
Fantasma Este |
|
144.43 |
148.86 |
4.43 |
3.31 |
7.22 |
16 |
0.13 |
ALH2467 |
Fantasma Oeste |
|
68.55 |
70.80 |
2.25 |
1.96 |
10.99 |
13 |
1.41 |
ALH2824 |
Fantasma |
|
55.02 |
57.76 |
2.74 |
2.44 |
7.84 |
8 |
0.67 |
Fantasma Sur |
|
70.51 |
71.20 |
0.69 |
0.55 |
34.40 |
14 |
4.18 |
ALH2487 |
Fantasma Oeste |
|
63.10 |
64.05 |
0.95 |
0.79 |
23.20 |
77 |
6.88 |
ALH2463 |
Fantasma Oeste |
|
60.55 |
63.01 |
2.46 |
2.31 |
7.88 |
8 |
2.09 |
ALH2730 |
Fantasma Este |
|
157.93 |
160.62 |
2.69 |
2.04 |
8.58 |
63 |
1.03 |
ALH2861 |
Bandolera 1 |
|
136.54 |
138.00 |
1.46 |
0.89 |
19.00 |
155 |
0.28 |
ALH2843 |
Bandolera 2 |
|
173.80 |
176.98 |
3.18 |
2.15 |
11.44 |
87 |
0.04 |
ALH2766 |
Don Leopoldo Sur |
|
188.50 |
197.21 |
8.71 |
6.00 |
12.80 |
9 |
0.23 |
Incl. |
193.85 |
197.21 |
3.36 |
2.31 |
28.49 |
18 |
0.54 |
|
198.56 |
201.62 |
3.06 |
2.40 |
8.00 |
12 |
0.26 |
ALH2761 |
Don Leopoldo Sur |
|
51.10 |
54.20 |
3.10 |
2.70 |
10.40 |
4 |
0.20 |
ALH2753 |
Don Leopoldo |
|
110.60 |
116.75 |
6.15 |
5.00 |
4.90 |
130 |
1.65 |
ALH2714 |
Don Leopoldo |
|
119.45 |
121.40 |
1.95 |
1.68 |
10.33 |
664 |
2.80 |
ALH2154 |
Don Leopoldo |
|
190.62 |
194.50 |
3.88 |
2.84 |
5.46 |
10 |
0.07 |
ALH2760 |
Don Leopoldo Sur |
|
179.55 |
182.72 |
3.17 |
1.60 |
8.30 |
9 |
0.09 |
ALH2479 |
PV Sur 1 |
|
78.25 |
79.50 |
1.25 |
1.20 |
30.82 |
28 |
7.43 |
ALH2564 |
PV Sur 9 |
|
7.80 |
9.70 |
1.90 |
1.36 |
22.34 |
46 |
3.34 |
PV Sur 10 |
|
53.22 |
58.90 |
5.68 |
4.06 |
7.34 |
203 |
1.54 |
ALH2741 |
PV Sur 1 |
|
126.70 |
129.85 |
3.15 |
2.36 |
8.71 |
8 |
2.25 |
ALH2505 |
PV Sur 8 |
|
67.90 |
70.25 |
2.35 |
1.19 |
5.74 |
52 |
1.61 |
ALH2524 |
Lazo Polvorin |
|
217.75 |
230.80 |
13.05 |
8.77 |
15.09 |
43 |
0.36 |
Incl. |
220.30 |
223.70 |
3.40 |
2.28 |
31.27 |
64 |
0.84 |
ALH2394 |
Peumo |
|
13.43 |
19.15 |
5.72 |
4.88 |
16.24 |
25 |
1.76 |
ALH2794 |
Centenario Sur |
|
21.10 |
24.05 |
2.95 |
1.50 |
32.70 |
50 |
2.10 |
ALH2732 |
Satelite Patagua |
|
24.00 |
29.00 |
5.00 |
4.80 |
10.90 |
8 |
0.40 |
Incl. |
26.05 |
27.25 |
1.20 |
1.15 |
19.55 |
10 |
0.64 |
ALH2248 |
Los Patos |
|
192.17 |
193.54 |
1.37 |
1.37 |
59.67 |
62 |
0.87 |
ALH2676 |
Flor |
|
24.34 |
29.04 |
4.70 |
2.99 |
12.52 |
30 |
1.93 |
|
|
|
|
|
|
|
|
|
|
Figure 4: Plan map of consolidated
Yamana properties is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b0339dba-1335-419a-b953-a00cd2c3d13b
Figure 5: Long section of PV
Sur-Fantasma structure is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/fefa9c60-55c4-4357-9be7-a732bebd67b1
Qualified Persons and Data
VerificationScientific 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. Data verification related to certain scientific and
technical information disclosed herein in connection with Yamana’s
El Peñón mine can be found in the Company’s technical report
entitled, “Technical Report on the El Peñón Mine , Antofagasta
Region (II), Chile” dated March 2, 2018, available under the
Company’s profile on SEDAR at www.sedar.com and on the Company’s
website.
About YamanaYamana 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: 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
exploration and operating performance new discoveries at El Peñón;
the potential for mineral reserve and mineral resource growth and
extension of mine life at El Peñón; the potential to replace mining
depletion at Minera Florida by year-end; the potential for new
discoveries in an unexplored sector of the Minera Florida property;
the expectation that the potential provided by the 2017 property
consolidation at Minera Florida will translate into significant new
mineral reserves and mineral resources; and the Company’s goal of
replacing mineral depletion on an annual basis through exploration
program 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 Company's
expectations in connection with plans to continue the advancement
of its exploration programs at El Peñón and Minera Florida; the
Company not achieving the expected significant, positive results
from its ongoing exploration work discussed herein; 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,
including market conditions, the results of ongoing exploration
work at El Peñón and Minera Florida, and 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 ongoing exploration plans and objectives at El Peñón and
Minera Florida and may not be appropriate for other purposes.
Yamana Gold (TSX:YRI)
Historical Stock Chart
From Mar 2024 to Apr 2024
Yamana Gold (TSX:YRI)
Historical Stock Chart
From Apr 2023 to Apr 2024