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Be the first with the news that moves the market- Yamana Gold’s (TSX:YRI) latest exploration results have expanded the known mineralisation at its Jacobina and El Penon Mines
- The latest drill results from Jacobina include 10.5 grams per tonne of gold over 5.4 metres and 5.3 grams per tonne of gold over 3.4 metre
- At El Penon, Yamana intersected 6.0 grams per tonne gold over a horizontal width of 2.1 metres
- Yamana believes the results could support extending El Penon’s mine-life by up to 10 years
- Yamana Gold Inc (YRI) is up 2 per cent, with shares trading at C$7.58 and a market cap of $7.2 billion
Yamana Gold’s (TSX:YRI) latest exploration results have expanded the known mineralisation at its Jacobina and El Penon Mines.
Jacobina and El Penon are both high-producing gold mines located in Brazil and Chile, respectively.
The company’s exploration at Jacobina from the second half of last year through the first quarter of 2020 expanded the number of high-grade zones at the site, showing growth in mineral reserves and mineral resource estimates.
The best results from Jacobina include 10.5 grams per tonne of gold over 5.4 metres and 5.3 grams per tonne of gold over 3.4 metres.
This represents a good expansion of known mineralization within the highest-grade sector of the mine, which bodes well for a greater mine life.
Jacobina currently has an estimated mine-life of 14.5 years but the company hopes these latest results could further extend the previous estimate.
At El Penon, the company has intercepted mineralization at depth below the existing mineral resource that was already recorded.
The company found three veins that contained deeper mineralization than previously measured.
Drilling at El Penon returned 6.0 grams per tonne gold over a horizontal width of 2.1 metres.
The company also discovered several new secondary veins, further expanding these primary veins.
The company believes the results could support extending current mineral reserves and mine life for up to 10 years.
Furthermore, El Penon has excess plant capacity and, therefore, the extension of the primary vein does provide some flexibility to process more tonnage at higher grades, which would increase annual production.
Yamana Gold Inc (YRI) ) is up 2 per cent, with shares trading for C$7.58 at 1:49 pm EDT.
