TORONTO, Sept. 07, 2021 (GLOBE NEWSWIRE) -- YAMANA GOLD INC. (TSX:YRI; NYSE:AUY; LSE:AUY) (“Yamana” or “the Company”) today provided an exploration update for the Minera Florida, Cerro Moro, El Peñón and Canadian Malartic mines. Exploration results for the Jacobina mine were announced on July 29, 2021, and for more information, please see the press release titled ‘Yamana Gold Reports Significant Progress on Phase 2 Expansion at Jacobina and Strong Exploration Results for the Operation’, available at www.yamana.com. The exploration program at the Company’s Wasamac project has commenced, with plans for 120,000 metres of drilling for 2021 and 2022, including infill drilling of least 68,000 metres to better delineate areas expected to be developed in the first three years of production and 10,000 metres of drilling on the broader Wasamac property, along with drilling on the adjacent Francoeur projects. An update on the Company’s generative exploration program that will include initial exploration results at Wasamac will be provided before the end of the month.
The Company’s exploration program continues to generate promising new discoveries, indicating excellent potential to add new mineral reserves and mineral resources, consistent with the corporate strategy of extending mine life through depletion replacement on an annual basis. In addition, the commitment to near-mine exploration has defined significant new mineralized zones not currently in life of mine plans. Furthermore, drilling results to date support continuous production at current or higher production levels for at least the 10-year period outlined in the Company’s previously provided outlook with such production not dependent on exploration successes and, in most cases, between existing mineral inventories and exploration results to date, mine lives at all of the Company’s operations are supported for well in excess of that 10-year production outlook period.
Exploration Highlights, Minera Florida
Drilling in key production sectors of the mine, most notably Don Leopoldo and Fantasma, continues to expand mineralization along strike and down dip. Targets remain open in both directions, underscoring the potential for expansion of the mineral envelope in both sectors. At Don Leopoldo, positive drilling results were obtained in areas that remain open for further growth along strike and down dip.
Highlights include the following estimated true width intercepts: 7.56 grams per tonne (“g/t”) of gold, 22.5 g/t of silver, and 1.24% of zinc over 5.99 metres (ALH3262); 6.82 g/t of gold, 13.4 g/t of silver and 1.29% of zinc over 3.02 metres (ALH3253).
At Fantasma, positive drilling results were obtained from the northwestern sector of the vein, defining two parallel horizontal high-grade shoots.
Highlights include the following estimated true width intercepts: 9.33 g/t of gold, 15.3 g/t of silver and 1.20% of zinc over 2.08 metres (ALH3239); 11.16 g/t of gold, 22.9 g/t of silver and 1.32% of zinc over 2.65 metres (ALH 3289).
Exploratory drilling at Minera Florida has generated new discoveries in the core mine area, including VNC and Juan Pablo, providing increased optionality for the mining operation and demonstrating the geological potential in the central Alhue block.
The recent discovery of veins such as Cucaracha and Juan Pablo in new areas beyond the eastern and western limits of the central Alhue block, the historic focus of exploration and mining at Minera Florida, underscores the potential for further near-mine discoveries.
The robust exploration results at Minera Florida support the plan for production increases at the operation.
Exploration Highlights, Cerro Moro
Expanded the known core mine veins at Cerro Moro with significant drill results, most notably at Zoe and Martina, providing an excellent opportunity for mineral resource growth in the near term, highlighting the continuity and potential of several sectors near current mining operations.
At Zoe, positive drilling results show good continuity at depth.
High-grade results over the following estimated true widths include: 34.71 g/t of gold and 3,264.5 g/t of silver over 3.47 metres (MD3173); 31.34 g/t of gold and 4,004.4 g/t of silver over 2.94 metres (MD3354).
At Martina, drilling has defined the continuity of the main ore shoot generating new areas open to exploration.
Highlights include the following estimated true width intercepts: 76.63 g/t of gold and 247.9 g/t of silver over 2.41 metres (MD3228); 84.80 g/t of gold and 69.2 g/t of silver over 2.31 metres (MD3240).
Beyond the core mine, drilling at Naty has defined continuous shallow high-grade mineralization with further growth potential at depth.
Highlights include the following estimated true width intercepts: 30.68 g/t of gold and 3,824.7 g/t of silver over 10.37 metres (MD3255); 56.27 g/t of gold and 109.7 g/t of silver over 4.29 metres (MD3270); and 102.39 g/t of gold and 1,051.0 g/t of silver over 2.89 metres (MD3271), demonstrating potential for further high-grade mineralization outside of the core mine area.
District exploration continues to generate important exploration targets, including an emerging district to the south of Cerro Moro. Initial scout drilling at a number of major structures, including Naty NE, Cassius, Domos La Union, La Henriette, and Casper, have generated encouraging results.
Exploration Highlights, El Peñón
Exploration drilling continues to expand mineralization to depths below several producing sectors, most notably Paloma and Pampa Campamento, while a dedicated program targeting continuity of the main production vein systems at depth is advancing and supportive of planned production increases at El Peñón.
Drilling at Paloma continues to expand the mineral envelope in multiple sectors, which remain open for further growth.
Highlights include the following estimated true width intercepts: 49.50 g/t of gold and 72.5 g/t of silver over 1.70 metres (SIU0028); 20.96 g/t of gold and 72.6 g/t of silver over 1.59 metres (SIU0014).
At Pampa Campamento, infill drilling has confirmed the expanding mineral envelope to depth, which remains open for further exploration.
Highlights include the following estimated true width intercepts: 33.54 g/t of gold and 68.7 g/t of silver over 0.69 metres (UIP0046); 9.89 g/t of gold and 752.6 g/t of silver over 1.68 metres (UIP0053).
The Company has initiated a deep exploratory drilling program targeting extensions of the major producing vein systems at depth and to the south of the mine. Initial drill results show significant potential for discovery of blind continuations of the main vein systems.
Exploration Highlights, Canadian Malartic
Infill drilling at East Gouldie continues to demonstrate strong intercepts and excellent continuity within the defined mineral envelope. Step out drilling to the east also exhibits good expansion potential, providing additional support for the planned Odyssey Underground Project.
Exploration drilling collared on the Rand property has cut the East Gouldie structure at depth up to 1,260 metres east of the year-end 2020 mineral resource envelope with significant results in three drill holes. Drilling has also intercepted a new mineralized structure 400 metres south of East Gouldie.
Exploration drilling below the East Amphi deposit has generated significant new intercepts expanding the mineralized envelope with new wide intervals of mineralization.
Results to date strongly support the transition at Canadian Malartic to a large scale underground operation.
Minera Florida Exploration Update
At Minera Florida, exploration results continue to expand known vein systems, such as at Don Leopoldo and Fantasma, and define new mineralized zones in the core mine, such as VCN and Juan Pablo. Infill drilling in 2021 included conversion of inferred resources as well as delineation drilling of select areas to increase confidence in higher grades areas within the mine plan. The latest drill results have also advanced the understanding and mineral potential of the east block, where the mineralized system is believed to continue at depth within this down-dropped structural block, representing a significant target for new areas close to existing mine infrastructure. Overall, exploration continues to expand the mineralized envelope to the east and west, and supports the plan for further production increases. The mine has an $11 million exploration budget with 52,000 metres of drilling planned for 2021, including 29,000 metres completed to date.
The delineation drilling program at Minera Florida has focused on the Fantasma and Don Leopoldo sectors, with results expanding the mineral envelope and demonstrating potential for further growth in several directions.
Infill and delineation drilling at Don Leopoldo continues to generate positive results, confirming the presence of mineralization in the northwestern portion of this system, which indicates that the sector remains open for expansion toward its projected intersection with the Patagua vein. Drilling highlights include the following estimated true width intercepts: 7.56 g/t of gold, 22.5 g/t of silver and 1.24% of zinc over 5.99 metres (ALH3262); 6.82 g/t of gold, 13.4 g/t of silver and 1.29% of zinc over 3.02 metres (ALH3253). Step out exploratory drilling intersected the southeastern continuity of the Don Leopoldo vein, expanding the current envelope. Drilling highlights include the following estimated true width intercepts: 9.42 g/t of gold, 9.4 g/t of silver and 0.41% of zinc over 3.94 metres (ALH3114); 13.47 g/t of gold, 15.3 g/t of silver and 0.05% of zinc over 3.70 metres (ALH3124). The sector also remains open in the down plunge direction, where the deepest hole executed (ALH3145) returned the following estimated true width interval: 4.23 g/t of gold, 8.2 g/t of silver and 2.69% zinc over 2.73 metres. See Figure 2 and Table 1 for additional results.
At Fantasma, infill drilling has defined two separate, parallel mineralized zones along the northwestern section of this vein system 100 and 200 metres in length and close to mine infrastructure. Drilling highlights include the following estimated true width intercepts: 9.33 g/t of gold, 15.3 g/t of silver and 1.20% of zinc over 2.08 metres (ALH3239); 11.16 g/t of gold, 22.9 g/t of silver and 1.32% of zinc over 2.65 metres (ALH 3289). Step out exploratory drilling intersected the continuity of this system along the northwestern strike direction toward the Polvorin structure intersection. Drilling highlights include the following estimated true width intercept: 11.55 g/t of gold, 17.7 g/t of silver and 0.19% of zinc over 1.05 metres (ALH3269). See Figure 3 and Table 1 for additional results.
Recent exploration drilling within the core mine has also generated substantial results. A new discovery, the VCN sector, was defined by excellent results along a continuous 300-metre northwest strike direction. This vein may provide important flexibility to the mine operation. Drilling highlights at VCN include the following estimated true width intercepts: 13.99 g/t of gold, 4.3 g/t of silver and 0.42% of zinc over 3.11 metres (ALH3352); 36.87 g/t of gold, 22.3 g/t of silver and 7.02% of zinc over 3.52 metres (ALH 3330).
Further, structural reinterpretation and recent exploratory drilling at the nearby, previously mined, Juan Pablo sector, located east of Alhue block, has generated the following estimated true width intercepts: 5.81 g/t of gold, 4.9 g/t of silver and 0.26% of zinc over 0.91 metres (ALH3130); and 4.98 g/t of gold, 10.7 g/t of silver and 1.87% of zinc over 0.60 metres (ALH3051), showing continuity of mineralization in both the down dip and up dip directions. Significantly, exploratory drilling at Juan Pablo has revealed geological continuity of mineralized veins across the Alhue–East block structural boundary, where veining is displaced by a series of subparallel faults related to the through-going Maqui fault structure, opening up a large area for near-mine exploration. An exploratory drift is planned in this high potential block, with drilling expected to begin in late 2021 or in the first quarter of 2022.
As part of its efforts to expand beyond the east and west limits of the Alhue block and explore Minera Florida’s large land package, exploratory drilling identified a new vein system, Cucaracha, located 1.5 kilometres from the plant. The Cucaracha system is defined continuously for 300 metres along a northwest-southeast direction and over 100 metres down dip, and it remains open in all directions. Drilling highlights include the following estimated true width intercepts: 4.48 g/t of gold, 5.5 g/t of silver and 3.19% of zinc over 2.54 metres (ALH3272); 11.01 g/t of gold, 5.6 g/t of silver and 2.27% of zinc over 1.39 metres (ALH3281).
Recent exploration results at Minera Florida continue to demonstrate the significant upside potential of the Minera Florida District. New sectors such as Don Leopoldo and Fantasma highlight the opportunity to expand the mineral resource base and extend life of mine, while new discoveries in the core block such as VNC represent important contributors for new mineral resources close to mine infrastructure, providing flexibility for the mining operation. In addition, advances in understanding of the structural setting at Minera Florida have demonstrated the continuity of the Alhue vein system east of the central Alhue block at Juan Pablo, highlighting a large near-mine area that is being evaluated for its exploration potential. Furthermore, new discoveries in the West block such as Cucaracha continue to demonstrate the exploration upside adjacent to mine infrastructure. These discoveries confirm the presence of a much wider mineralized system around the historic mine area than previously understood and offer excellent potential for future growth and mine life extensions.
Figure 1: Minera Florida Location Map Showing Main Target Areas Discussed in Text, Principle Vein Systems, and Underground Workings.
Figure 2: Minera Florida, Don Leopoldo Longitudinal Section (Looking Northeast) Highlighting Recent Drilling Results.
Figure 3: Minera Florida, Fantasma Longitudinal Section (Looking Northeast) Highlighting Recent Drill Results.
Table 1: Minera Florida New Drill Intercept Highlights, Selected For Intervals Greater Than 3.50 g/t of Gold Over Diluted Horizontal Mining Width of 1.20 Metres. Gold Equivalent Equals Au(g/t)+Ag(g/t)/133.6+Zn(%)/2.54.
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