TIDMAUY
RNS Number : 3792H
Yamana Gold Inc.
03 December 2020
YAMANA GOLD ADVANCES PROJECTS IN ITS GENERATIVE EXPLORATION
PROGRAM, OUTLINES 2021 PLANS FOR ADVANCING PROJECTS; REPORTS
POSITIVE ADVANCES AT LAVRA VELHA, MONUMENT BAY, BORBOREMA, AND ADDS
TWO EARLY STAGE PROJECTS TO PROGRAM IN CHILE
d ownload a PDF of detailed drill hole results for Lavra
Velha
d ownload a PDF of detailed drill hole results for Monument
Bay
d ownload a PDF of detailed drill hole results for Borborema
d ownload a PDF of detailed drill hole results for Ivolandia
TORONTO, ONTARIO, December 3, 2020 -- YAMANA GOLD INC. (TSX:YRI;
NYSE:AUY LSE: AUY) ("Yamana" or "the Company") provided an update
on its generative exploration program activities, announcing
positive drill results from the Lavra Velha, Monument Bay, and
Borborema projects, as well as the addition of two new projects,
Cambista and Cambiazo, to the program in Chile.
The generative exploration program is a key component of
Yamana's overall growth strategy, designed to advance the Company's
most prospective properties and lay the foundation for the next
generation of Yamana mines. By prudently investing in its
exploration project pipeline today, the Company expects to steadily
increase its mineral resource base and generate consistent
long-term growth in production and cash flow. The Company's
generative work is focused on its large land positions in
mining-friendly jurisdictions in the Americas where Yamana already
has producing mines and deep technical, geological, and operational
expertise. This allows for the rapid advancement of the Company's
highest value projects while at the same time moving the most
promising early-stage properties up the exploration pipeline. The
main objectives of the generative program are the discovery of a
standalone project with inferred mineral resources of at least 1.5
million ounces of gold equivalent within three years that, on a
longer-term basis, can support the development of a new cash flow
generating mine with production of 150,000 ounces per year for at
least eight years.
Projects in the generative exploration program are categorized
and defined as follows:
Tier One Projects with well-defined gold mineral resources
and opportunities to grow to a potentially
economic threshold in the next three years
Tier Two Projects that have achieved significant drill
intercepts and whose geology along with other
factors support rapid mineral resource growth
------------------------------------------------------
Tier Three Highly prospective projects with known mineralization
defined with rock and soil geochemistry that
warrant future drill testing
------------------------------------------------------
The first year of the generative exploration program showed
significant progress, notwithstanding limited drilling activity due
to COVID-19 related restrictions, strengthening the Company's
conviction that it will meet its objective of discovering a
standalone project with inferred mineral resources of at least 1.5
million ounces of gold equivalent within three years. The results
also underscore the scope, breadth, optionality, and value of
Yamana's generative portfolio, which now consists of 11 projects
including the addition of two new Tier 3 projects, Cambista and
Cambiazo, in Chile. Both of these projects, along with several
others in the generative portfolio, including Jacobina Norte, are
located in close proximity to producing Yamana mines, which will
allow the Company to leverage its expertise and experience in these
regions to advance the projects and potentially benefit from
existing infrastructure should these projects become producing
mines. Drill results at Borborema, Ivolandia, and Cambista-Cambiazo
show excellent potential to advance to the next tier.
PROJECT SNAPSHOTS
Tier One
-- Lavra Velha (Bahia, Brazil) hosts stacked, flat-lying
mineralized zones that are oxidized near surface. Exploration is
expanding the known oxide mineral resource base, and the deposit is
being evaluated as a potential open pit prospect relying on heap
leaching for recovery.
-- Monument Bay (Manitoba, Canada) is a four-kilometre long
mineralized Archean shear zone with steeply plunging higher-grade
mineralized shoots that is being considered as a potential
underground higher-grade prospect.
Tier Two
-- Jacobina Norte (Bahia, Brazil) is a large, highly-prospective
property that lies contiguous to and north of the Company's
prolific Jacobina mine, with preliminary results showing excellent
potential for the discovery of standalone Jacobina-type
mineralization and the addition of a new mine along the greenstone
basin.
-- Borborema (Pernambuco, Brazil) hosts newly discovered massive
sulphide mineralization that contains high-grade copper as well as
gold and zinc. This high-grade mineralization is being delineated,
and testing of other copper and gold targets is ongoing.
-- Ivolandia (Goias, Brazil) is an advancing exploration project
where drilling has defined wide low-grade mineralized zones.
Exploration is focussed on oxidized, near-to-surface zones of gold
mineralization that are potentially well-suited to open pit heap
leach extraction.
-- Domain (Manitoba, Canada) hosts iron formation gold
mineralization that has been identified by limited historic
drilling. It is a large property with untested iron formation and
shear zone type targets that Yamana expects to begin drill testing
in 2021 pending the conclusion of community consultation and
permitting.
Tier Three
-- North Madsen (Ontario, Canada) is located in the Red Lake
district in northwest Ontario, where intrusive hosted vein and
stockwork gold mineralization generates both wide, low-grade
mineralized zones and higher-grade vein and shear-hosted
mineralization. The mineralized zones are currently being evaluated
for higher-grade mineralization that could be amenable to
underground mining.
-- Colider (Mato Gross, Brazil) is an early stage project in the
newly developing Juruena District that has been explored for
porphyry copper and precious metals deposits by several junior and
senior companies. The property has defined gold-in-rock and soil
anomalies associated with well preserved epithermal style
mineralization in a Proterozoic arc setting. Targets are ready for
first pass drill testing.
-- Cambista and Cambiazo (Antofagasta, Chile) are two
early-stage properties with an extensive portfolio of mineral
concessions located within 100 kilometres of the Company's El Peñón
mine. Recent exploration has identified significant areas of
alteration with associated anomalous gold results in soil and rock
samples and limited but encouraging gold mineralization in drill
intercepts. Drill testing is ongoing.
-- Mara Rosa (Goias, Brazil) is a large land package marked by
the same alteration footprint as the Chapada mine, with significant
copper, copper-gold, and gold-only targets, several of which are
drill ready. Further geochemical exploration is planned in
2021.
Figure 1: Project Location Map.
http://www.rns-pdf.londonstockexchange.com/rns/3792H_1-2020-12-3.pdf
TIER ONE PROJECTS
Lavra Velha
Lavra Velha is an advanced exploration project located on a
55,000-hectare land package in Brazil's Bahia state, a
mining-friendly jurisdiction that is also home to Yamana's Jacobina
mine. Lavra Velha is located about 300 kilometres from Jacobina and
could share potential synergies with the mine operation. The
generative exploration program has already identified inferred
mineral resources at Lavra Velha of 3.93 million tonnes at 4.29
grams per tonne ("g/t") of gold for 543,000 ounces of gold, which
represents one-third of the 1.5 million ounces of inferred mineral
resources being targeted by the Company under the generative
exploration program.
Exploration continues to generate and test new prospective areas
within and around the Lavra Velha deposit with a focus on shallow
oxide mineralization. Step out exploration has led to the further
discovery and partial delineation of the Lavra Velha SW and Sul
deposits. These areas consist of a series of structural zones
defined over more than 900 metres of strike length. Shallow
drilling in 2020 has yielded significant results from oxide
mineralized zones, as represented by the following estimated true
width intercepts: 5.80 metres at 2.35 g/t of gold (from hole
FSW-018, starting at 56.20 metres down hole); 4.89 metres at 2.18
g/t of gold (hole FLV00161, starting at starting at 63.00 metres
down hole); and 9.44 metres at 0.64 g/t of gold, including 0.84
metres at 2.84 g/t of gold (hole FSW-020, starting at 101.00 metres
down hole).
Historic drill intercepts of note from the Lavra Velha SW and
Sul deposits include the following estimated true width intercepts:
4.90 metres at 3.95 g/t of gold (hole FLV-136, starting at 26.40
metres down hole); 11.21 metres at 3.63 g/t of gold, including 2.05
metres at 10.30 g/t of gold (hole FLV-146, starting at 98.13 metres
down hole) and 12.67 metres at 1.94 g/t of gold (FLV-068, starting
at 1.20 metres down hole). See Figure 2 for a project map and Table
1 for additional drill results. These results as well as other
previously released results (see the Yamana press release issued
February 20, 2020, available on the Company's website at
www.yamana.com) will be used to update the mineral resources, and
are expected to add to the already identified oxide mineral
resource.
To the southeast of the Lavra Velha deposit, a similar
geological setting has been explored in the Flanco Leste area.
Recent geochemical results from surface rock sampling has defined a
large, continuous anomalous zone along a 3.5 kilometre strike
associated with alteration similar to that present at higher levels
of the Lavra Velha deposit. Exploratory drilling has been initiated
to test this area and will continue in early 2021.
Metallurgical studies were initiated to determine the
suitability of Lavra Velha mineralization for heap leach
extraction. Bottle roll tests were executed at SGS laboratory (Belo
Horizonte, Minas Gerais) with a total of 39 oxide samples tested.
One kilogram splits of material with 100% passing six millimetres
were analyzed by sampling at five fixed intervals of 2, 4, 8, 24,
and 72 hours. The initial results show that the oxide
mineralization may be suitable for gold recovery by heap leaching,
with an average of 94.6% gold extraction in under 72 hours. Similar
tests on sulphide bearing material showed recoveries that averaged
87% for mixed sulphide and oxide domains and 75% for sulphide only
domains. Additional metallurgical studies are underway that will
include larger-scale column tests and cyanide consumption analysis,
with results expected by mid-year 2021.
Lavra Velha represents one of the best prospects in the
generative exploration program, and Yamana believes there is
excellent potential for the project to meet the Company's
three-year, 1.5 million ounce inferred mineral resource target.
Figure 2: Lavra Velha project map showing main mineralized
sectors, rock sample results and 2020 and historic drilling
highlights for Lavra Velha Sul and Lavra Velha SW, reported as Au
(g/t) over estimated true widths.
http://www.rns-pdf.londonstockexchange.com/rns/3792H_1-2020-12-3.pdf
Table 1 : Lavra Velha 2020 and historic drilling highlights.
Hole Including Sector From To Interval Estimated Au Year
(m) (m) (m) True Width (g/t)
(m)
Lavra Velha
FSW-016 Sul 76.00 89.91 13.91 13.30 0.45 2020
----------------------- ------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
Incl. Sul 76.00 76.65 0.65 0.65 1.10 2020
----------- ------------------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
Incl. Sul 89.34 89.91 0.57 0.57 4.45 2020
----------- ------------------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
FSW-018 Sul 56.20 62.00 5.80 5.80 2.35 2020
----------------------- ------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
Incl. Sul 56.20 56.93 0.73 0.73 6.78 2020
----------- ------------------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
Incl. Sul 61.03 62.00 0.97 0.97 6.48 2020
----------- ------------------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
And Sul 117.00 126.19 9.19 9.19 0.60 2020
----------- ------------------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
FSW-020 Sul 101.00 110.44 9.44 9.44 0.64 2020
----------------------- ------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
Incl. Sul 101.00 101.84 0.84 0.84 2.84 2020
----------- ------------------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
FLV00161 Sul 63.00 68.00 5.00 4.89 2.18 2020
----------------------- ------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
Incl. Sul 65.19 66.20 1.01 0.98 9.65 2020
----------- ------------------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
FLV-068 SW 1.20 13.87 12.67 12.67 1.94 Historic
----------------------- ------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
Incl. SW 10.15 12.00 1.85 1.85 8.30 Historic
----------- ------------------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
FLV-136 Sul 26.40 35.51 9.11 4.90 3.95 Historic
----------------------- ------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
Incl. Sul 27.61 33.15 5.54 2.98 5.56 Historic
----------- ------------------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
FLV-146 SW 98.13 110.58 12.45 11.21 3.63 Historic
----------------------- ------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
Incl. SW 93.13 100.41 2.28 2.05 10.30 Historic
----------- ------------------------ ------- ------- --------- ------------ ------- ---------
Lavra Velha
Incl. SW 105.00 109.00 4.00 3.60 4.65 Historic
----------- ------------------------ ------- ------- --------- ------------ ------- ---------
Monument Bay
Yamana continues to explore its 31,000-hectare Monument Bay
project, located in northeastern Manitoba. The Twin Lakes deposit
was originally being considered as an open pit operation but is now
being re-evaluated as an underground project based on encouraging
results from an internal study consisting of a stope optimization
exercise within a revised deposit interpretation. The internal
study indicates the presence of steeply plunging higher-grade
shoots within the open pit resource that are potentially mineable
in an underground scenario. Where possible, mineralized shoots were
extended up to a maximum depth of 700 metres to produce target
shapes to guide the next phase of deposit drilling.
While an underground project would reduce the overall mineral
resource, grades would be expected to increase and, consequently,
potentially improve economics. In addition, the mineralized shoots
are open at depth, which means the initial mineral resource could
increase. Further, an underground scenario would reduce the project
footprint, mitigating the surface impact and lowering its overall
environmental footprint.
Encouraging drill results from the winter 2020 program include
the following estimated true width intercepts: 14.86 metres at 3.32
g/t of gold, including 7.20 metres at 5.58 g/t of gold (TL-20-703);
7.46 metres at 6.68 g/t of gold (TL-20-712); 4.06 metres at 8.64
g/t of gold, including 3.07 metres at 10.73 g/t of gold
(TL-20-715); and 4.64 metres at 5.29 g/t of gold (TL-20-702). The
results confirm the presence of higher grade and wide structures
and zone extensions at shallow elevations not currently within the
model, underscoring the potential within the deposit footprint both
near surface and at depth. See Figure 3 for a long section of the
Monument Bay Twin Lakes deposit and Table 2 for additional drill
results.
Drilling activity in 2020 was impacted by restrictions related
to COVID-19, but the exploration program will now ramp up taking
advantage of winter ice conditions, with rigorous COVID-19
precautionary measures in place and rapid testing available to
protect local communities and project personnel. More drilling
results are expected by the middle of 2021.
In order to guide a 16,000-metre winter surface drilling program
along the deposit trend, a series of three drill holes were
completed during the recent fall program. Full results are pending
but core logging confirms the presence of characteristic deposit
mineralization and alteration features at depth, with preliminary
associated anomalous gold values. Results will be reported along
with the planned drill program in 2021.
In early 2020, a reverse circulation drill till sampling program
continued across the property, testing areas not previously
targeted. Till and top of bedrock results further support interest
in an emerging target area southeast of the Twin Lakes deposit.
Exploration on this target area is expected to resume in 2021.
Figure 3: Monument Bay Twin Lakes Deposit long section with
modeled geologically defined gold domains as well as target gold
domains projected to 700 metres depth. 2019 and 2020 drilling
results and select historic intercepts, reported as Au (g/t) over
estimated true widths, shown to illustrate higher-grade values
within gold domains.
http://www.rns-pdf.londonstockexchange.com/rns/3792H_1-2020-12-3.pdf
Hole Including From To Interval Estimated Au Year
(m) (m) (m) True Width (g/t)
(m)
TL-19-696 160.37 169.65 9.28 8.98 3.71 2019
------------------------- ------- ------- --------- ------------ ------- -----
Incl. 162.37 166.25 3.88 3.76 7.54 2019
------------------------ ------- ------- --------- ------------ ------- -----
Incl. 163.70 166.25 2.55 2.47 9.68 2019
------------------------ ------- ------- --------- ------------ ------- -----
TL-19-697B 161.50 167.40 5.90 5.22 4.32 2019
------------------------- ------- ------- --------- ------------ ------- -----
And 181.03 183.65 2.62 0.81 27.12 2019
------------------------ ------- ------- --------- ------------ ------- -----
Incl. 181.03 182.65 1.62 0.50 43.09 2019
------------------------ ------- ------- --------- ------------ ------- -----
TL-20-702 26.45 31.30 4.85 4.64 5.29 2020
------------------------- ------- ------- --------- ------------ ------- -----
Incl. 26.45 27.40 0.95 0.91 12.43 2020
------------------------ ------- ------- --------- ------------ ------- -----
TL-20-703 132.00 149.07 17.07 14.86 3.32 2020
------- ------- --------- ------------ ------- -----
Incl. 140.50 148.77 8.27 7.20 5.58 2020
------------------------ ------- ------- --------- ------------ ------- -----
TL-20-712 26.00 34.15 8.15 7.46 6.68 2020
------- ------- --------- ------------ ------- -----
TL-20-714 116.70 124.90 8.20 7.83 2.44 2020
------------------------- ------- ------- --------- ------------ ------- -----
Incl. 116.70 119.70 3.00 2.87 5.39 2020
------------------------ ------- ------- --------- ------------ ------- -----
Incl. 118.90 119.70 0.80 0.76 18.30 2020
------------------------ ------- ------- --------- ------------ ------- -----
And 131.90 137.60 5.70 5.58 3.43 2020
------------------------ ------- ------- --------- ------------ ------- -----
TL-20-715 96.00 100.10 4.10 4.06 8.64 2020
------------------------- ------- ------- --------- ------------ ------- -----
Incl. 97.00 100.10 3.10 3.07 10.73 2020
------------------------ ------- ------- --------- ------------ ------- -----
And 165.00 167.80 2.80 2.78 5.87 2020
------------------------ ------- ------- --------- ------------ ------- -----
Incl. 165.75 167.80 2.05 2.03 7.50 2020
------------------------ ------- ------- --------- ------------ ------- -----
TIER 2 PROJECTS
Jacobina Norte
The Jacobina Norte project, located in Brazil's Bahia State
contiguous to and north of the Jacobina mine property, comprises a
total of 78,000 hectares of exploration concessions distributed
along a 150-kilometre-long strike length extent of the Serra do
Corrego formation, which hosts the paleoplacer gold mineralization
of the Jacobina mine. Surface work, which started in 2019 and
continued in 2020, has defined mineralized conglomerate reefs along
a trend that is more than 15-kilometres long. An exploratory
drilling program was recently initiated covering several well
defined mineralized sectors, while district exploration continues
to explore for new mineralized sectors north of areas currently
being drilled.
Surface work at Jacobina Norte has defined three sectors,
Angicos, Barracão, and Barracão Velho, where gold-in-rock samples
related to multiple, staked, continuous conglomerate reefs, defined
a 15-kilometre target area within a geological setting that is
closely comparable to the paleoplacer gold mineralization found at
the Jacobina mine. In all three sectors, at least four distinct
conglomerate layers have been defined, ranging from four to five
metres in thickness and presenting numerous gold values above 1.0
g/t of gold, with assays ranging up to 5.8 g/t of gold in some
areas. Drilling is continuing and will test widely spaced targets
to rapidly define the highest priority areas for advancement.
District exploration beyond the northern limits of the
Angicos-Barrãcao area has identified several other areas of
conglomerate hosting anomalous gold values in areas up to 40
kilometres north of Barracão Velho. See Figure 4 for a project map
and main exploration targets as well as planned drilling.
The results generated from the first-year program at Jacobina
Norte show impressive exploration potential, with strong evidence
of favourable geological features that make the Jacobina mine a
multimillion ounce gold deposit.
Figure 4: Jacobina Norte project and main explored sectors.
http://www.rns-pdf.londonstockexchange.com/rns/3792H_1-2020-12-3.pdf
Borborema
The Borborema project is a 25,000-hectare land package located
in Brazil's Pernambuco state in a Proterozoic magmatic arc
environment that is similar to the belt hosting the Chapada mine, a
large copper-gold mine developed by Yamana and put into production
in 2007. Recent generative exploration work at Borborema has led to
the discovery of important, high-grade copper-gold-zinc massive
sulphide mineralization that has produced notable drill intercepts
in initial drilling and defined several other high potential
targets on the property.
The drilling program at S ã o Francisco has successfully
delineated a continuous 900-metre long copper-gold-zinc massive
sulfide mineralized body that runs in an east-west direction,
gently plunging to the east and enveloped by a large halo of
lower-grade disseminated sulphide mineralization. Both the halo and
massive sulphide mineralization remain open for expansion. Drilling
results demonstrate that the S ã o Francisco discovery is a
significant polymetallic system with associated gold, as defined by
the following recent core length intercepts (estimated to
approximately equal true widths): 7.53 metres at 3.80% of copper,
0.36 g/t of gold, and 0.26% of zinc, including 3.42 metres at 7.40%
of copper, 0.75 g/t of gold, and 0.50% of zinc (starting at 76.80
metres downhole, SF-12); 4.37 metres at 2.15% of copper, 0.13 g/t
of gold, and 0.34% of zinc, including 1.30 metres at 5.54%
of copper, 0.29 g/t of gold, and 0.70% of zinc (starting at
45.26 metres downhole, SF-09); and 5.65 metres at 1.83% of copper,
0.18 g/t of gold, and 0.17% of zinc, including 1.65 metres at 5.50%
of copper, 0.50 g/t of gold, and 0.53% of zinc (starting at 116.35
metres downhole, SF-16). See Figure 5 and Table 3 for additional
drill results.
The district exploration has also identified seven new areas
within the Borborema exploration concessions with large gold,
gold-copper or copper soil and rock anomalies from surface
sampling, expanding the S ã o Francisco footprint and providing new
areas for drill testing.
The results demonstrate that S ã o Francisco represents a
significant, shallow copper-gold-zinc system defined by a
continuous massive sulphide rich core enveloped by a wide zone of
disseminated mineralization, which is completely open for expansion
in all directions. The drilling program will continue to focus on
expanding the known mineralized system.
S ã o Francisco mineralization represents only a minor portion
of a large anomalous district, making Borborema a very attractive
project in the Company's exploration portfolio.
Figure 5: Borborema property, São Francisco target 2020 drilling
highlights and main district sector location. Drilling results
reported as Cu (%), Au (g/t) and Zn (%) over core lengths.
http://www.rns-pdf.londonstockexchange.com/rns/3792H_1-2020-12-3.pdf
Table 3 : Borborema 2020 drilling highlights for drill holes
demonstrating grades greater than 5.0% Cu over core lengths greater
than 0.5 metres.
Hole Including Sector From To Interval Cu Au Zn Year
(m) (m) (m) (%) (g/t) (%)
São
SF-09 Francisco 45.26 49.63 4.37 2.15 0.13 0.34 2020
-------------------- ----------- ------- ------- --------- ----- ------- ----- -----
São
Inc. Francisco 47.30 48.60 1.30 5.54 0.29 0.70 2020
----------- -------------------- ------- ------- --------- ----- ------- ----- -----
São
Inc. Francisco 47.30 47.92 0.62 9.61 0.46 1.00 2020
----------- -------------------- ------- ------- --------- ----- ------- ----- -----
São
SF-10 Francisco 59.37 63.51 4.14 1.09 0.07 0.16 2020
-------------------- ----------- ------- ------- --------- ----- ------- ----- -----
São
Inc. Francisco 59.97 60.62 0.65 6.00 0.35 0.66 2020
----------- -------------------- ------- ------- --------- ----- ------- ----- -----
São
SF-11 Francisco 69.91 73.09 3.18 1.21 0.20 0.23 2020
-------------------- ----------- ------- ------- --------- ----- ------- ----- -----
São
Inc. Francisco 71.88 73.09 1.21 3.08 0.53 0.51 2020
----------- -------------------- ------- ------- --------- ----- ------- ----- -----
São
Inc. Francisco 71.88 72.48 0.60 5.86 1.06 1.00 2020
----------- -------------------- ------- ------- --------- ----- ------- ----- -----
São
SF-12 Francisco 76.80 84.33 7.53 3.80 0.36 0.26 2020
-------------------- ----------- ------- ------- --------- ----- ------- ----- -----
São
Inc. Francisco 80.20 83.62 3.42 7.40 0.75 0.50 2020
----------- -------------------- ------- ------- --------- ----- ------- ----- -----
São
SF-16 Francisco 116.35 122.00 5.65 1.83 0.18 0.17 2020
-------------------- ----------- ------- ------- --------- ----- ------- ----- -----
São
Inc. Francisco 116.35 118.00 1.65 5.50 0.50 0.53 2020
----------- -------------------- ------- ------- --------- ----- ------- ----- -----
São
Inc. Francisco 116.35 117.35 1.00 7.24 0.66 0.72 2020
----------- -------------------- ------- ------- --------- ----- ------- ----- -----
Ivolandia
The Ivolandia project is comprised of a 67,500-hectare land
package that is located in Brazil's Goias state south of the
Chapada mine. Geochemical stream and soil sampling on the
exploration concessions has identified numerous large gold
anomalies, and an initial drilling program has defined shallow,
gold oxide mineralization.
At the Ivolandia Main target, 36 exploratory drill holes have
defined a low-grade oxide mineral envelope over a 1.2 kilometre
north-south extent, supported by the following recently drilled
core length intercepts: 31.57 metres at 0.44 g/t of gold (from
surface), including 5.57 metres at 1.55 g/t of gold (IVO-018);
24.00 metres at 0.30 g/t of gold (from surface), and 25.30 metres
at 0.50 g/t of gold (starting at 52.00 metres down hole, IVO-023).
See Figure 6 for a property map and drilling highlights.
New sectors have also been defined through exploratory drilling,
including Ivolandia West, that warrant further exploration, as
indicated by the following low-grade core length intercepts: 15.00
metres at 0.33 g/t of gold (starting at 53.00 metres downhole), and
1.00 metres at 3.03 g/t of gold (starting at 156.00 metres down
hole, IVO-29). True widths are not interpreted at this time.
Within the greater Ivolandia concessions, exploration results
have defined a number of gold targets for further drill testing. In
one of the sectors, Guarda Mor, historical holes drilled by Yamana
intercepted significant higher-grade shallow oxide mineralization
as indicated by core length intercepts in holes GMOR-04 (21.71
metres a 4.75 g/t of gold, starting at 20.34 metres downhole) and
GMOR-14 (13.00 metres at 0.63 g/t Au, starting at 44.00 metres
downhole), confirming significant district scale potential for
further discovery.
Figure 6: Ivolandia project, Ivolandia Main target 2020 drilling
highlights, property wide gold grain stream sediment counts and
select historic exploratory drilling. Drilling results reported as
Au (g/t) over core lengths.
http://www.rns-pdf.londonstockexchange.com/rns/3792H_1-2020-12-3.pdf
Domain
The Domain project, located near Oxford Lake in northeastern
Manitoba, is a large 20,000-hectare property package consisting of
two unexplored mineral exploration licences 100%-controlled by
Yamana, and three smaller claims held under a joint venture
agreement with Capella Minerals Ltd. The property is considered to
be highly prospective for iron formation-hosted gold deposits and
has returned a number of drill intercepts with significant gold
grades from a limited area of drilling within the joint venture
claims. The larger land package has magnetic anomalies and limited
arsenic-in-till anomalies that indicate potential targets for
further iron formation-hosted gold as well as shear zone type gold
targets.
In July 2020, Yamana entered into an Exploration Agreement with
Bunibonibee Cree Nation to develop a cooperative and mutually
beneficial relationship relating to mineral exploration within the
Traditional Territory of Bunibonibee Cree Nation. Yamana is in the
planning stages of a work program for the property, and pending
conclusion of community consultation and permitting, exploration
work is anticipated to begin in early 2021.
TIER THREE PROJECTS
Yamana controls a number of prospective land packages with
evidence of mineralization on surface and limited or no drilling
completed to date. These Tier Three projects represent important
opportunities that the Company believes offer excellent exploration
upside, providing an opportunity for organic growth of new advanced
exploration projects over the next decade. Notable Tier Three
projects include Cambista and Cambiazo in Chile, Colider in Brazil,
and North Madsen in Canada.
Cambista and Cambiazo
Yamana controls an extensive portfolio of exploration properties
located within 100 kilometres of the El Peñón mine. Concessions
totalling approximately 71,000 hectares are located in this
Paleocene gold belt that hosts the El Peñón mine, which has
produced over five million ounces of gold to date. The Company's
knowledge and exploration expertise of this environment are now
being applied to exploration in the outlying concessions.
Exploration has been successful in identifying several high
potential sectors utilizing spectrometry-based alteration mapping,
soil geochemistry, and the reinterpretation of geophysical
data.
Ongoing first pass exploratory drilling has intercepted
significant areas of alteration and limited but encouraging
evidence of gold mineralization. Initial drilling in one sector,
Faraón, located in the northern section of the area being targeted,
yielded 34.00 metres at 0.51 g/t of gold, including 2.00 metres at
3.13 g/t of gold (hole CLGNRC05, starting at 146.00 metres
downhole). True widths are not interpreted at this time. See Figure
7 for a property location map.
Several others concessions within this well-endowed mineral belt
that the Company believes demonstrate high potential for further
discoveries are being advanced to drill testing stage.
Figure 7: Cambista and Cambiazo property locations, El Peñón
District, northern Chile.
http://www.rns-pdf.londonstockexchange.com/rns/3792H_1-2020-12-3.pdf
Colider
Colider is an early stage project located in Mato Grosso,
Brazil, in the newly developing Juruena District, which has been
explored for porphyry copper and precious metals deposits by
several junior and senior companies. The 9,700-hectare property is
located on Proterozoic volcanic rocks of the Colider sequence.
Initial exploration has identified areas of anomalous gold in soils
and rocks, with values in individual soil samples reaching up 0.1
g/t of gold intermittently over up to 5.0 kilometres. Gold-in-rock
anomalies are associated with well preserved epithermal vein and
stockwork mineralization. Exploratory drilling is planned to test
these targets in 2021.
Figure 8: Colider project, Brazil. Geology and rock and soil
gold geochemistry.
http://www.rns-pdf.londonstockexchange.com/rns/3792H_1-2020-12-3.pdf
North Madsen
At North Madsen, a 416-hectare property located in the core of
the Red Lake camp in Ontario, gold mineralization is present as
intrusive-hosted vein and stockwork, with both significant wide,
low-grade intercepts and more restricted higher-grade mineralized
intervals. A 2020 review of historic drilling produced an internal
project evaluation that has generated renewed interest to further
evaluate the project. Previous exploration has outlined gold zones
in three separate areas, each of which is contiguous with gold
zones on the adjacent Hasaga property owned by Premier Gold Mines
Ltd. Further work will focus on developing an improved geologic
model to evaluate near surface targets as well as the potential to
develop higher-grade targets that are potentially amenable to
underground mining.
QP Statement
Scientific and technical information contained in this press
release has been reviewed and approved by Henry Marsden (P. Geo.
and Senior Vice President, Exploration). Mr. Marsden is an employee
of Yamana Gold Inc. and a "Qualified Person" as defined by Canadian
Securities Administrators' National Instrument 43-101 - Standards
of Disclosure for Mineral Projects.
Quality Assurance and Quality Control
Yamana incorporates a Quality Assurance and Quality Control
("QA/QC") program for all of its mines and exploration projects
which conforms to industry best practices.
Samples are transported in security sealed bags for preparation
at certified laboratories (ALS, SGS, BVS). 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. Copper reported in this release is analyzed by AAS
using a four acid digestion. 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 The remaining core, coarse reject and pulps are
stored on-site in a secure location.
Quality assurance standards, duplicates, sterile and blanks are
routinely inserted into the sample stream as a control for assay
accuracy, bias, precision and contamination. The results of these
checks are tracked and failures are re-analyzed. This information
also includes pulp checks carried out in the secondary lab.
About Yamana
Yamana Gold Inc. is a Canadian-based precious metals producer
with significant gold and silver production, development stage
properties, exploration properties, and land positions throughout
the Americas, including Canada, Brazil, Chile and Argentina. Yamana
plans to continue to build on this base through expansion and
optimization initiatives at existing operating mines, development
of new mines, the advancement of its exploration properties and, at
times, by targeting other consolidation opportunities with a
primary focus in the Americas.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Investor Relations
416-815-0220
1-888-809-0925
Email: investor@yamana.com
Tavistock (UK Public Relations)
Charles Vivian / Emily Moss
Telephone: +44 7977 297 903 / +44 778 855 4035
Email: yamana@tavistock.co.uk
Peel Hunt LLP (Joint UK Corporate Broker)
Ross Allister / David McKeown / Alexander Allen
Telephone: +44 (0) 20 7418 8900
Berenberg (Joint UK Corporate Broker)
Matthew Armitt / Jennifer Wyllie / Detlir Elezi
Telephone: +44 (0) 20 3207 7800
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 and 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 proposed generative
exploration program and prospective and highly prospective targets
and projects, the Company's short-term and longer-term goals and
objectives of the program; the Company's expectation that it will
continue to generate cash flow, some of which will support the
generative exploration program. 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 unforeseen
impacts on cash flow; unforeseen exploration and test results, and
other risk factors discussed 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
proposed generative exploration program and the short-term and
longer-term goals and objectives thereof, as well as the Company's
expected sources of funding for the program and may not be
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END
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