- Yamana Gold (YRI) files technical reports for Canadian Malartic and El Peñón
- Since year-end 2017, gold mineral reserves have increased from 764,000 ounces to 921,000 ounces at year-end 2020
- Successful development of mineral reserves and mineral resources has translated into the highest production levels
- The existing processing capacity of 4,200 tonnes per day is to increase production to approximately 260,000 GEO per year
- Yamana Gold (YRI) is up 0.36 per cent and is trading at C$5.61 at 1:24 pm ET
Yamana Gold Inc (YRI) has filed National Instrument 43-101 technical reports for the Canadian Malartic mine in Québec and the El Peñón mine in Chile.
The reports provide technical updates on two of Yamana’s cornerstone assets and information supporting the mineral reserves and mineral resources that form Yamana’s basis.
Since the previous El Peñón technical report was filed three years ago, the operation has gone from strength to strength.
During that time, Yamana has continued to successfully expand the operation’s mineralization footprint, replace depletion of mineral reserves each year at an average replacement factor of 130 per cent.
They develop a pipeline of mineral resources and exploration targets to maintain a mine life visibility of 10 years or more.
Since year-end 2017, gold mineral reserves have increased from 764,000 ounces to 921,000 ounces at year-end 2020.
Since year-end 2019, measured and indicated gold mineral resources increased by 16 per cent to 765,000 ounces while inferred gold mineral resources climbed by 16 per cent to 850,000 ounces.
Measured and indicated silver mineral resources increased by 17 per cent to 25.5 million ounces over the same period, while inferred silver mineral resources rose by 9% to 28.1 million ounces.
Successful development of mineral reserves and mineral resources has translated into the highest production levels since Yamana rightsized the operation in late 2016.
Looking forward to the next 10 years, Yamana has outlined a production profile of approximately 230,000 gold equivalent ounces per year at El Peñón, based on over six years of mineral reserves.
This ongoing mineral reserve replacement mostly through infill drilling on several major veins near existing infrastructure and mine workings carrying mineral resources at least equivalent to mineral reserve grade.
Continued exploration success would unlock opportunities to leverage the mine’s existing processing capacity of 4,200 tonnes per day to increase production to approximately 260,000 GEO per year.
El Peñón has an impressive track record of incremental mine life extension, and 384,000 metres of drilling is planned from 2021 to 2023 to continue this trend.
The Odyssey project mine plan currently includes 0.4 million ounces of the project’s 0.8 million ounces of indicated mineral resources and 6.9 million ounces of the project’s 13.5 million ounces of inferred mineral resources.
In total, the mine plan supports 7.3 million mineable ounces (100 per cent basis).
Yamana 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 Gold (YRI) is up 0.36 per cent and is trading at C$5.61 at 1:24 pm ET.