YAMANA GOLD INC. (TSX:YRI; NYSE:AUY) (“Yamana” or “the Company”)
today provided an update on exploration results for the Minera
Florida, El Peñón, and Jacobina mines. Exploration results continue
to support year-over-year growth, with promising new discoveries in
the first half of 2020, indicating excellent potential for new
mineral reserves and mineral resources at year end. The commitment
to near-mine exploration and to improving efficiencies at our
operations has resulted in significant new mineralized zones not
currently in life of mine plans.
A separate exploration update on the Canadian
Malartic mine, including drilling results and a mineral resource
update for the East Gouldie zone, is planned for early in the
fourth quarter. Please see the upcoming events section at the end
of this press release for additional future catalysts.
Exploration Highlights, Minera
Florida
- Drilling results in new production
sectors of the mine, most notably Patagua and Don Leopoldo,
continue to expand these sectors along strike and down dip, which
remain open in both directions, underscoring the potential for
expansion of the mineral resource base in both sectors.
- Exploratory results in newly
explored areas of the mine provided significant discoveries,
including in the La Flor Oeste and Bandolera sectors, demonstrating
the presence of a wider and underexplored mineralization footprint
at Minera Florida with the potential to produce significant new
near-mine results and expand the mineral resource base as well as
life of mine.
- At La Flor Oeste, drilling returned
excellent results, encountering wide zones of higher than current
average mineral reserve grades. Highlights include the following
estimated true width intercepts: 4.74 grams per tonne (g/t) of
gold, 15.4 g/t of silver, and 0.56% of zinc over 8.6 metres (drill
hole ALH2993); 8.68 g/t of gold, 15.8 g/t of silver, and 0.49% of
zinc over 5.4 metres (ALH2790). At Bandolera, located adjacent to
the core mine area, high grade intercepts demonstrate good
potential for additional mineral resources. Recent estimated true
width intercepts include: 13.68 g/t of gold, 10.0 g/t of silver,
and 6.90% of zinc over 2.0 metres (ALH2890); and 18.99 g/t of gold,
155.3 g/t of silver, and 0.28% of zinc over 1.5 metres
(ALH2861).
Significance
Exploration in important new production sectors
outside the core mine area, including Patagua and Don Leopoldo,
support Yamana’s view of the Las Patagua corridor as a similar
structural setting and style of mineralization to the core mine
area. In addition, drill results in newly discovered sectors in
underexplored areas of the property, such as La Flor Oeste and
Bandolera, opened up higher-grade veins east and west of the Alhue
block, further underscoring the potential to expand the mineral
resource and life of mine. These exploration results support the
Company’s internal assessment that mine life for Minera Florida
will exceed the life of mine implied by mineral reserves alone. The
strategic mine life for Minera Florida is estimated at 10
years.
Exploration Highlights, El
Peñón
- Exploration continues to
demonstrate the extension potential of several sectors, including
Pampa Campamento, Martillo Flat, and El Valle, while also
generating discoveries of new veins and mineralized structures in
the core mine.
- Drilling at Pampa Campamento
successfully extended the southern mineralized zone on deeper
levels, where drill hole UIP0009 returned 24.01 g/t of gold and
233.8 g/t of silver over 2.8 metres estimated true width,
indicating the continuity of mineralization down dip.
- At El Valle, the delineation
drilling program intercepted wider mineralized intervals and
defined the mineral envelope continuity along strike with good
expansion potential. Notable drill results include 13.17 g/t of
gold and 959.4 g/t of silver over 3.8 metres estimated true width
(UEV0013).Exploration generated additional discoveries and new
mineralized structures, with the definition of Quebrada Colorada
Sur, a recently discovered vein system located in the south
continuation of the historically productive Colorada
structure.
Significance
Exploration results at El Peñón continue to
highlight the expansion potential of historic sectors of the mine
and support the Company’s internal assessment that mine life at El
Peñón will exceed mine life supported by mineral reserves alone.
The strategic mine life for El Peñón is estimated to be at least 10
years. El Peñón has a 20-year track record of mineral resource
discovery and production depletion replacement. The latest
discoveries at El Peñón, which are located in areas adjacent to
infrastructure, include wide intercepts in deeper extensions of
major veins as well as lateral extensions of key past-producing
areas of the mine, underscoring the potential for increased
productivity at lower development costs. In addition, while the El
Peñón plant has the capacity to process up to 4,200 tonnes of ore
per day (“tpd”), it is currently processing 3,300 tpd, meaning new
discoveries can be brought forward thereby increasing annual
production.
Exploration Highlights,
Jacobina
- At the Jacobina Mine Complex,
successful delineation drilling at Morro do Vento, continues to
generate higher grade results in the Main Reef zone, including
drill hole MVTEX00048, with multiple significant estimated true
width intercepts including: 7.15 g/t of gold over 4.9 metres; 9.43
g/t of gold over 4.3 metres; and 5.80 g/t of gold over 3.8 metres,
expanding the known reefs along strike and to depth, indicating
excellent extension potential for additional mineral resources in
these areas.
- At Canavieiras Central, the
exploratory program has confirmed the presence of the mineralized
reefs with high grade intercepts along strike toward Canavieiras
Sul and indicated down plunge continuity for further mineral
resource expansion potential in this direction. Highlights include
drill hole CANEX82, with 4.35 g/t of gold over an estimated true
width of 4.5 metres.
- Exploratory drilling at the
Canavieiras Sul sector has confirmed the extension of the Maneira,
LU, MU, and LVL reefs, expanding these zones along strike towards
the south and further adding new areas for mineral resource
expansion. Drilling highlights from this sector include: 7.29 g/t
of gold over an estimated true width of 1.7 metres (CANEX70A) and
6.15 g/t of gold over an estimated true width of 1.9 metres (CANEX
88).
Significance
The exploration program at Jacobina continues to
generate significant exploration results, with important new
mineralized areas identified adjacent to the currently producing
mines at Canavieiras Sul, Canavieiras Central, and Morro do Vento.
The results support the Company’s internal assessment that mine
life for Jacobina will exceed the 15-year life of mine implied by
mineral reserves alone. The strategic mine life for Jacobina is
estimated at 20 years. Jacobina also has a long track record of
replacing depletion of mineral reserves from mining.
MINERA FLORIDA, EXPLORATION UPDATE
Minera Florida has been a continuous producer
for over 35 years with the historic core mine reporting more than
2.5 million ounces of gold and 14 million ounces of silver
production. Consolidation of the property position through the
acquisition of the Agua Fria concessions in 2017 has generated new
discoveries, including Patagua, Don Leopoldo, Fantasma, and PV Sur.
These discoveries, aided by extensions of historically mined veins,
have successfully maintained gold mineral reserves, replacing
depletion and adding mineral resources from new sectors. They
contributed to strong production in the first half of 2020 and will
provide the foundation for further production increases and mine
life extensions.
This year, the exploration program has generated
discoveries in new areas of the property, both east and west of the
core mine, including La Flor Oeste and Bandolera, indicating a
larger mineralized footprint for future growth. The La Flor area in
particular is returning exceptionally wide vein intercepts for the
mine, providing better potential for mineral resource growth and
operational efficiency. In addition, the delineation drilling
program in the last quarter of 2019 and first half of 2020 focused
on the Patagua and Don Leopoldo sectors, intersecting
northwesterly-oriented vein systems that continue to demonstrate
excellent potential, with strong mineralization along the
intersection area of the two veins and new extensions along strike
and down dip.
At Patagua, delineation drilling results have
expanded the known mineralized zones by 100 metres down dip, adding
new mineralization in areas previously considered sub-economic, and
through infill drilling along the intersection with the Don
Leopoldo sector. Significant results from recent activity include
the following estimated true width intercepts: 7.52 g/t of gold,
3.0 g/t of silver, and 0.49% of zinc over 2.5 metres (ALH2921);
11.55 g/t of gold, 5.3 g/t of silver, and 0.43% of zinc over 1.4
metres (ALH 3010); 4.19 g/t of gold, 11.3 g/t of silver, and 0.10%
of zinc over 4.1 metres (ALH3059). See Figure 2 and Table 1 for
additional results.
Successful delineation drilling on Don Leopoldo
continues to generate excellent results, defining a higher grade
zone, with the following estimated true width intercepts: 5.86 g/t
of gold, 27.9 g/t of silver, and 0.47% of zinc over 2.2 metres
(ALH3028); 4.72 g/t of gold, 12.1 g/t of silver, and 0.07% of zinc
over 1.5 metres (ALH3017). The Don Leopoldo zone remains open to
the east and down plunge with the deepest hole (ALH2928) reporting
17.86 g/t of gold, 8.5 g/t of silver and 3.44% zinc over a 1.1
metres estimated true width. See Figure 3 and Table 1 for
additional results.
Historically, exploration at Minera Florida has
been concentrated in the central Alhue structural block, where most
of the underground development and past drilling has occurred. In
recent years, exploration has expanded beyond the east and west
limits of the Alhue block (see Figure 1). Exploratory drill testing
in these new areas has successfully identified the continuity of
mineralized veins beyond these perceived limits, both east and west
of the central block. This work has generated significant new
discoveries and demonstrates a much wider mineralization footprint
on the large land package open to future exploration.
To the west, exploration drilling has
successfully defined the La Flor Oeste sector, encountering wide
intercepts of higher-than-current mine reserves grades along this
north-south oriented structure. Drilling to date has defined the La
Flor Oeste vein system over a 300-metre strike length and over 100
metres of down-dip extent. The vein system and related structures
remain open in all directions. Significant results from La Flor
Oeste include the following estimated true width intercepts: 4.74
g/t of gold, 15.4 g/t of silver, and 0.56% of zinc over 8.6 metres
(ALH2993); 8.68 g/t of gold, 15.8 g/t of silver, and 0.49% of zinc
over 5.4 metres (ALH 2790); 6.76 g/t of gold, 22.2 g/t of silver,
and 2.19% of zinc over 4.8 metres (ALH3009). Although historically
the exploration focus at Minera Florida has been on northwest- and
northeast-striking vein structures in the core mine area, recent
exploratory results, such as the La Flor Oeste discovery, suggest
that north-south oriented vein structures also represent viable
exploration targets. Please see Figures 1 and 4 and Table 1 for
additional results.
To the east of the central Alhue structural
block, drilling has identified the northwest-striking Bandolera
vein system adjacent to current infrastructure. This new discovery
has been defined over a 150-metre strike length and over a
300-metre vertical interval and remains open in all directions.
Significant drilling results from Bandolera include the following
estimated true width intercepts: 18.99 g/t of gold, 155.3 g/t of
silver, and 0.28% of zinc over 1.5 metres (ALH 2861); 13.68 g/t of
gold, 10.0 g/t of silver, and 6.90% of zinc over 2.0 metres (ALH
2890); 7.73 g/t of gold, 8.9 g/t of silver, and 0.08% of zinc over
1.0 metre (ALH 3002). Please see Figure 5 and Table 1 for
additional results.
Exploration in important new production sectors
outside the core mine area, including Patagua and Don Leopoldo,
support Yamana’s view of the Las Patagua corridor as a similar
structural setting and style of mineralization to the core mine
area. In addition, drill results in newly discovered sectors in
underexplored areas of the property, such as La Flor Oeste and
Bandolera, opened up higher-grade veins east and west of the Alhue
block, further underscoring the potential to expand the mineral
resource and life of mine. Overall, these exploration results
support the Company’s internal assessment that mine life for Minera
Florida will exceed the life of mine implied by mineral reserves
alone. The Company’s estimated strategic mine life for Minera
Florida is 10 years.
Figure 1: Minera Florida Location Map
Showing Main Target Areas Discussed in Text, Geological Features,
Principle Vein Systems, And Underground
Workings.https://www.globenewswire.com/NewsRoom/AttachmentNg/c5fea8a1-b406-473d-ae67-032810343464
Figure 2: Patagua Long Section Highlighting Recent
Drilling
Results.https://www.globenewswire.com/NewsRoom/AttachmentNg/6fc46eb6-b9b0-43b5-a6f1-b96f432dca5c
Figure 3: Don Leopoldo Long Section
Highlighting Recent Drilling
Results.https://www.globenewswire.com/NewsRoom/AttachmentNg/5d9719ba-aea4-4881-bf4e-c0aaa41856ce
Figure 4: La Flor Oeste Long Section
Highlighting Recent Drilling
Results.https://www.globenewswire.com/NewsRoom/AttachmentNg/1f781f57-f475-44ae-8743-d71c3eeca976
Figure 5: Bandolera Long Section
Highlighting Recent Drilling
Results.https://www.globenewswire.com/NewsRoom/AttachmentNg/aa7b31b9-117b-4243-ba65-ec1c6fb66e80
Table 1: Minera Florida New Drill Intercepts, Selected
For Intervals Greater Than 3.5 g/t Of Gold Over Diluted Horizontal
Width Of 1.2 Metres. Gold Equivalent (g/t) Equals Gold (g/t) Plus
Silver (g/t) Divided by 113.6 Plus Zinc (%) Divided by
2.54.
Hole |
Vein |
From (m) |
To (m) |
Interval (m) |
Horizontal Width (m) |
Estimated True Width (m) |
Au (g/t) |
Ag (g/t) |
Zn (%) |
Aueq (g/t) |
Au (g/t) Dil to 1.20 m |
ALH2921 |
Patagua Norte |
142.80 |
146.73 |
3.93 |
2.50 |
2.50 |
7.52 |
3.0 |
0.49 |
7.74 |
7.52 |
ALH2925 |
147.66 |
150.00 |
2.34 |
2.11 |
2.10 |
4.86 |
15.8 |
4.74 |
6.86 |
4.86 |
ALH2941 |
147.00 |
148.04 |
1.04 |
0.98 |
0.96 |
39.84 |
26.6 |
0.20 |
40.15 |
32.54 |
ALH3010 |
156.44 |
157.93 |
1.49 |
1.45 |
1.40 |
11.55 |
5.3 |
0.43 |
11.77 |
11.55 |
ALH3059 |
161.05 |
165.55 |
4.50 |
4.10 |
4.06 |
4.19 |
11.3 |
0.10 |
4.33 |
4.19 |
ALH3043 |
155.82 |
157.30 |
1.48 |
1.42 |
1.40 |
4.25 |
11.1 |
1.19 |
4.82 |
4.25 |
ALH3028 |
Don Leopoldo |
163.80 |
166.23 |
2.43 |
2.19 |
2.15 |
5.86 |
27.9 |
0.47 |
6.29 |
5.86 |
ALH2894 |
145.45 |
148.00 |
2.55 |
2.05 |
2.05 |
11.50 |
32.0 |
0.85 |
12.12 |
11.50 |
ALH2920 |
160.50 |
163.85 |
3.35 |
3.12 |
3.10 |
5.94 |
13.3 |
2.04 |
6.86 |
5.94 |
ALH2928 |
129.30 |
130.70 |
1.40 |
1.18 |
1.13 |
17.86 |
8.5 |
3.44 |
19.29 |
17.56 |
ALH3010 |
152.75 |
155.08 |
2.33 |
1.90 |
1.90 |
8.73 |
3.5 |
1.74 |
9.45 |
8.73 |
ALH3041 |
128.59 |
132.79 |
4.20 |
3.21 |
3.18 |
4.55 |
14.1 |
0.86 |
5.01 |
4.55 |
ALH3017 |
140.55 |
142.40 |
1.85 |
1.56 |
1.54 |
4.72 |
12.1 |
0.07 |
4.85 |
4.72 |
870 UG XC |
1.00 |
3.40 |
2.40 |
2.40 |
2.38 |
3.84 |
19.0 |
0.05 |
4.03 |
3.84 |
ALH2783 |
La Flor Oeste |
247.20 |
251.14 |
3.94 |
3.45 |
3.42 |
6.06 |
5.9 |
1.36 |
6.65 |
6.06 |
ALH2790 |
209.20 |
215.28 |
6.08 |
5.48 |
5.40 |
8.68 |
15.8 |
0.49 |
9.01 |
8.68 |
ALH2993 |
169.30 |
178.85 |
9.55 |
8.70 |
8.59 |
4.74 |
15.4 |
0.56 |
5.10 |
4.74 |
ALH3009 |
188.35 |
193.80 |
5.45 |
4.87 |
4.82 |
6.76 |
22.2 |
2.19 |
7.82 |
6.76 |
ALH3013 |
156.00 |
159.50 |
3.50 |
3.35 |
3.32 |
9.17 |
23.4 |
0.74 |
9.67 |
9.17 |
ALH3058 |
157.71 |
159.95 |
2.24 |
2.02 |
2.02 |
6.21 |
22.7 |
0.81 |
6.72 |
6.21 |
ALH2811 |
Bandolera |
119.55 |
121.75 |
2.20 |
1.22 |
1.20 |
8.31 |
73.0 |
4.29 |
10.63 |
8.31 |
ALH2850 |
165.10 |
168.40 |
3.30 |
2.10 |
2.05 |
5.95 |
3.2 |
1.36 |
6.51 |
5.95 |
ALH2861 |
135.54 |
138.00 |
2.46 |
1.50 |
1.48 |
18.99 |
155.3 |
0.28 |
20.47 |
18.99 |
ALH2887 |
138.88 |
141.90 |
3.02 |
1.85 |
1.82 |
3.72 |
3.6 |
1.39 |
4.30 |
3.72 |
ALH2890 |
126.83 |
129.35 |
2.52 |
2.01 |
1.99 |
13.68 |
10.0 |
6.90 |
16.48 |
13.68 |
ALH2968 |
103.50 |
105.11 |
1.61 |
1.45 |
1.40 |
8.88 |
26.5 |
0.08 |
9.14 |
8.88 |
ALH2970 |
128.25 |
130.60 |
2.35 |
1.64 |
1.64 |
5.11 |
135.8 |
4.04 |
7.90 |
5.11 |
ALH3002 |
163.95 |
164.96 |
1.01 |
0.95 |
0.95 |
7.73 |
8.9 |
0.08 |
7.84 |
6.12 |
UGCHN024 |
1.70 |
5.40 |
3.70 |
3.70 |
3.50 |
6.29 |
52.0 |
0.11 |
6.79 |
6.29 |
EL PEÑÓN EXPLORATION UPDATE
At El Peñón, exploration has focused on adding
new areas to the mineral resource base outside of the current life
of mine plans, resulting in several important recent discoveries
close to mine infrastructure. Drilling at Pampa Campamento,
Martillo Flat, and El Valle has successfully delineated the
continuity of these veins to depth, strongly supporting mineral
resource expansion. The Pampa Campamento and El Valle sectors are
returning results from wide vein intercepts that indicate the
potential of El Peñón to continue to provide wide veins that
contribute to operational efficiency.
At Pampa Campamento, delineation drilling has
extended the current mineral resource envelop at depth over 150
metres along strike, including the following significant estimated
true width intercepts: 15.94 g/t of gold and 286.9 g/t of silver
over 2.3 metres (UIP0005); 7.96 g/t of gold and 157.5 g/t of silver
over 1.2 metres (UIP0008); and 24.01 g/t of gold and 233.8 g/t of
silver over 2.8 metres (UIP0009). Drill hole UIP0009, which is
located approximately 250 metres north and to depth from holes
UIP0005 and UIP0008, opens up significant area for additional
exploration. Please see Figure 7 and Table 2 for additional drill
results.
At El Valle, exploration drilling successfully
intersected the continuity of the vein system with wide, higher
than average mine grade intervals, including the following
highlights reported as estimated true widths: 13.17 g/t of gold and
959.4 g/t of silver over 3.8 metres (UEV0013); 10.73 g/t of gold
and 145.9 g/t of silver over 3.5 metres (UEV0012). These results
define the mineral envelope continuity along strike with good
expansion potential. See Figure 8 and Table 2 for additional drill
results.
Delineation drilling at Martillo Flat also
continues to expand the mineralized vein at depth. Significant
results as estimated true widths include: 14.97 g/t of gold and
1,548.1 g/t of silver over 1.0 metres (35.02 g/t of gold equivalent
diluted over a minimum mining width of 1.2 metres) (UIM0045); 6.40
g/t of gold and 354.0 g/t of silver over 1.9 metres (UEM0013);
14.60 g/t of gold and 1,033.0 g/t of silver over 0.5 metres (12.77
g/t of gold equivalent diluted over a minimum mining width of 1.2
metres) (UEM0011). See Figure 9 and Table 2 for additional drill
results.
The exploration program at El Peñón continues to
demonstrate the potential of the El Peñón district. Exploratory
drilling south of the prolific Colorada vein system has identified
a new sub-parallel vein strand, Quebrada Colorada Sur. Recent
drilling highlights from this new vein strand include the following
estimated true width intercepts: 14.30 g/t of gold and 501.7 g/t of
silver over 1.6 metres (SNX0973); 12.30 g/t of gold and 339.0 g/t
of silver over 1.1 metres (14.83 g/t of gold equivalent diluted
over a minimum mining width of 1.2 metres) (UEQ0004). These recent
drilling results combined with a data review define a vein system
over a 500-metre north-south strike length, which is open to
expansion, that is the focus of an ongoing drill program. See
Figure 10 and Table 2 for additional drill results.
At El Peñón, a long, successful history of
replacing depletion and adding new mineral resources reflects the
resilience and quality of Yamana’s large flagship epithermal
deposit, which has been actively mined for more than 20
years. The results continue to highlight the expansion
potential of historic sectors of the mine and support the Company’s
internal assessment that mine life at El Peñón will exceed mine
life supported by mineral reserves alone. The strategic mine life
for El Peñón is estimated to be at least 10 years. In addition,
wide intercepts in deeper extensions of major veins and along
lateral extensions of key past-producing areas of the mine
underscore the potential for increased productivity at lower
development costs, while the available excess mill capacity will
allow significant operational flexibility.
Figure 6: El Peñón Property Plan Map
Showing Principle Veins And Select Exploration Target Areas. Star
Symbol Indicates Location Of Mine Plant
Facility.https://www.globenewswire.com/NewsRoom/AttachmentNg/17a3902b-4efd-476c-958c-0f4795d7f773
Figure 7: El Peñón, Pampa Campamento Vein Long Section
Highlighting Recent Drilling
Results.https://www.globenewswire.com/NewsRoom/AttachmentNg/9df7d296-ec2f-413a-b8bb-6899cfe0c0ea
Figure 8: El Valle Vein Long Section Highlighting Recent
Drilling
Results.https://www.globenewswire.com/NewsRoom/AttachmentNg/71b4a6c6-73b3-4289-8978-60a739019bd0
Figure 9: El Peñón Martillo Flat Vein Long Section
Highlighting Recent Drilling
Results.https://www.globenewswire.com/NewsRoom/AttachmentNg/ff5d0c6d-ad37-45be-b37f-a66cdf51c83d
Figure 10: Quebrada Colorada Sur Plan Map Highlighting
Recent Drilling
Results.https://www.globenewswire.com/NewsRoom/AttachmentNg/152e1e58-801e-4ea4-ad65-b6cdc978cdb5
Table 2: El Peñón New Drill Intercepts, Select for
Intervals Greater Than 3.5 g/t Of Gold Over Diluted Horizontal
Width Of 1.2 Metres. Gold Equivalent (g/t) Equals Gold (g/t) Plus
Silver (g/t) Divided by 75.
Hole |
Vein |
From (m) |
To (m) |
Interval (m) |
Horizontal Width (m) |
Estimated True Width (m) |
Au (g/t) |
Ag (g/t) |
Aueq (g/t) |
Au (g/t) Dil to 1.20 m |
UEV0012 |
El Valle |
259.70 |
263.42 |
3.72 |
3.58 |
3.46 |
10.73 |
145.9 |
12.68 |
10.73 |
UEV0013 |
266.00 |
270.22 |
4.22 |
3.90 |
3.80 |
13.17 |
959.4 |
25.96 |
13.17 |
UIM0045 |
Martillo Flat |
174.05 |
179.75 |
5.70 |
1.18 |
0.98 |
14.97 |
1548.1 |
35.61 |
14.72 |
UEM0011 |
151.90 |
152.95 |
1.05 |
0.54 |
0.49 |
14.60 |
1033.0 |
28.37 |
6.57 |
UEM0013 |
133.50 |
137.68 |
4.18 |
2.08 |
1.94 |
6.40 |
354.0 |
11.12 |
6.40 |
SIP0002 |
Paloma |
363.36 |
364.21 |
0.85 |
0.65 |
0.65 |
39.10 |
76.2 |
40.12 |
21.18 |
SIU0001 |
433.33 |
434.78 |
1.45 |
0.95 |
0.95 |
33.70 |
32.0 |
34.13 |
26.68 |
SIU0005 |
332.00 |
336.51 |
4.51 |
2.74 |
2.65 |
4.64 |
191.7 |
7.20 |
4.64 |
UIP0005 |
Pampa Campamento |
215.00 |
219.90 |
4.90 |
2.30 |
2.27 |
15.94 |
286.9 |
19.77 |
15.94 |
UIP0007 |
176.90 |
177.42 |
0.52 |
0.27 |
0.27 |
16.50 |
438.0 |
22.34 |
3.71 |
UIP0008 |
190.80 |
193.65 |
2.85 |
1.18 |
1.16 |
7.96 |
157.5 |
10.06 |
7.83 |
UIP0009 |
326.77 |
331.43 |
4.66 |
2.80 |
2.79 |
24.01 |
233.8 |
27.13 |
24.01 |
SIO0005 |
Playa |
55.65 |
59.40 |
3.75 |
2.85 |
2.78 |
5.38 |
194.9 |
7.98 |
5.38 |
SNX0973 |
Quebrada Colorada Sur |
301.50 |
303.50 |
2.00 |
1.69 |
1.64 |
14.30 |
501.7 |
20.99 |
14.30 |
315.50 |
316.50 |
1.00 |
0.56 |
0.54 |
8.85 |
430.0 |
14.58 |
4.13 |
UEQ0004 |
111.00 |
112.30 |
1.30 |
1.06 |
1.05 |
12.30 |
339.0 |
16.82 |
10.84 |
JACOBINA EXPLORATION UPDATE
The exploration program at the Jacobina Mine
Complex continues to generate significant results, with important
new mineralized areas identified adjacent to the currently
producing mines at Canavieiras Sul, Canavieiras Central, and Morro
do Vento, strongly supporting the continued expansion of the
mineral resources base. The results support the Company’s internal
assessment that mine life for Jacobina will exceed the 15-year life
of mine implied by mineral reserves alone. The Company’s estimated
strategic life of mine for Jacobina is 20 years. The
operation has a long track record of replacing depletion of
mineral reserves from mining.
At Morro do Vento, successful delineation
drilling continues to generate higher grade results in the Main
Reef zone, including the following estimated true width intercepts:
7.15 g/t of gold over 4.9 metres, 9.43 g/t of gold over 4.3 metres,
and 5.80 g/t of gold over 3.8 metres (MVTEX048). These results open
up 150 metres down plunge on the Main Reef and indicate that the
reef remains open for additional expansion. See Figure 12 and Table
3 for additional results, which will be incorporated into the
mineral resource update planned for year-end.
At Canavieiras Central, exploratory drilling
along the south extension towards Canavieiras Sul has confirmed the
presence of the LVL and Maneira reefs, with estimated true width
intercepts of 4.35 g/t of gold over 4.5 metres (CANEX82) and 3.70
g/t of gold over 3.1 metres (CANEX 92). The results open up 300
metres of strike potential and indicate down plunge continuity in a
southwest direction to be further explored. See Figure 13 for
additional results.
Exploratory drilling at Canavieiras Sul in the
second quarter of 2020 continued to provide excellent results,
demonstrating the potential extension of the Maneira, LU, MU, and
LVL reefs in this mine. Drilling expanded over 150 metres to the
south of the known extents of the LU and LVL reefs and opened up an
additional 100 metres of the Maneira reef. Significant drill
results include the following estimated true width intervals: 7.29
g/t of gold over 1.7 metres (CANEX70A); 6.15 g/t of gold over 1.9
metres (CANEX88). See Figure 13 for additional results.
Figure 11: Jacobina Location Map Showing
Main Target Areas and Mines. Star Symbol Indicates Location of Mine
Plant
Facility.https://www.globenewswire.com/NewsRoom/AttachmentNg/9fe099e1-43d6-4bfd-91b7-a52a11fb8493
Figure 12: Jacobina Morro Do Vento Long
Section Highlighting Recent Drilling
Results.https://www.globenewswire.com/NewsRoom/AttachmentNg/f50a6820-4db5-495d-85c0-f6b99d051d21
Figure 13: Jacobina Canavieiras Long
Section Highlighting Recent Drilling
Results.https://www.globenewswire.com/NewsRoom/AttachmentNg/15d2b23a-5c1c-424d-809e-425a8fdb20fc
Table 3: Jacobina New Drill Intercepts,
Select For Intervals Greater Than 2.5 g/t Gold Over Diluted Width
Of 3.0 Metres.
Hole |
Sector |
Reef |
From (m) |
To (m) |
Interval (m) |
Estimated True Width (m) |
Au (g/t) |
Au (g/t) Dil to 3.0 m |
CANEX70A |
Canavieiras Sul |
LU |
168.50 |
171.00 |
2.50 |
1.67 |
7.29 |
4.07 |
CANEX88 |
LVL |
160.50 |
162.50 |
2.00 |
1.93 |
6.15 |
3.96 |
LVL |
172.12 |
175.00 |
2.88 |
2.78 |
3.27 |
3.04 |
CANEX82 |
Canavieiras Central |
LVL |
252.96 |
258.06 |
5.10 |
4.47 |
4.35 |
4.35 |
CANEX00092 |
Maneira |
116.50 |
120.50 |
4.00 |
3.12 |
3.70 |
3.70 |
MVTEX00048 |
Morro do Vento |
MR |
243.50 |
251.00 |
7.50 |
4.89 |
7.15 |
7.15 |
MR |
266.00 |
272.50 |
6.50 |
4.26 |
9.43 |
9.43 |
MR |
274.59 |
280.50 |
5.91 |
3.82 |
5.80 |
5.80 |
FW |
382.50 |
388.50 |
6.00 |
2.67 |
7.22 |
6.43 |
UPCOMING EVENTS
The Company would like to highlight a number of
notable upcoming events and milestones. These include:
- The Company expects to begin
trading on the Main Market of the London Stock Exchange prior to
the release of its third quarter results.
- The release of third quarter
financial and operational results on October 29, 2020.
- An exploration update press release
for the Canadian Malartic mine, including drilling results and a
mineral resource update for the East Gouldie zone is planned for
early in the fourth quarter.
- An exploration update press release
highlighting progress on select projects in the Company’s
generative exploration program, including Monument Bay, Domain,
Borborema, and Ivolandia is planned in the fourth quarter. The
generative exploration program is focused on the Company’s most
highly prospective exploration projects with the long-term goal of
advancing at least one project to a mineral inventory large enough
to support a mine with annual production of approximately 150,000
for at least eight years. There are currently seven projects in the
program.
- While the Company’s exploration
program at Cerro Moro was initially delayed this year due to
certain COVID-19 related restrictions, drilling is currently
ramping up to complete the planned mineral reserve and mineral
resource delineation program by year-end.
- A preliminary economic assessment
on the Canadian Malartic underground project is expected to be
completed in 2021.
- A feasibility study for Phase 2 of
the Jacobina mine expansion is expected to be completed in
2021.
- A feasibility study for the Agua
Rica project is expected to be completed in 2021.
Qualified PersonsScientific 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
ControlYamana 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 (ALS,
SGS, Bureau Veritas) 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 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: 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 the Jacobina, El Penon and Minera Florida
and any potential increase in mine life. 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
expectations related to the results of exploration efforts at
Jacobina, El Penon and Minera Florida, including the details
surrounding expected mine life expansions discussed herein and in
the technical report being met, 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, currency exchange rates (such as the Brazilian real 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, 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, 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,
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.
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