An anonymous director reports
YAMANA GOLD ANNOUNCES DISCOVERY OF NEW HIGH-GRADE NATY ZONE AT CERRO MORO AND SIGNIFICANT HIGH-GRADE RESULTS FROM NEW EXPLORATION DRILLING WHILE EXTENDING EXPLORATION PROGRAM TO BROADER CERRO MORO
Yamana Gold Inc. has released exploration results for the Cerro Moro mine in Argentina, all of which show significant high-grade intersections in an entirely new zone and extensions of previously identified zones. These exploration results demonstrate a growing mineral resource base in new areas that are expected to establish Cerro Moro as a long-life, high-quality, high-grade gold and silver operation.
Exploration highlights:
- Discovery of a new mineralized zone: Drill intercepts are helping to define a significant new mineralized zone along the Naty structure, located 25 kilometres south of the core mine;
- Significant results from new exploration drilling in core mine area: high-grade intercepts in the Nini extension, Tres Lomas, Michelle and Deborah sectors;
- Encountering high grades in the Martina and Escondida sectors: Select drill intercepts exceed 100 grams per tonne of gold;
- Exploration program extended to entire Cerro Moro concession: program now covers the full 150,000-hectare land package.
The company has committed to an initial four-year exploration program, which began in early 2018, to systematically explore Cerro Moro. The program combines soil and rock geochemistry, ground geophysics, surface geological and alteration mapping, and reconnaissance drilling. Through the third quarter of 2019, more than 9,700 soil samples and 5,300 rock samples have been analyzed, 76 line kilometres of CSAMT (controlled source audio-magnotelluric) surveys have been completed, and 23,400 metres of reconnaissance RC (reserve circulation) and diamond drilling have been completed.
The program has led to the discovery of new mineralization in several areas of the property with positive results in the core mine as well as the newly discovered Naty zone. It has also extended historically known veins not currently in the mine plan, generating new targets for additional mineral resources.
Naty zone discovery
The Naty zone occurs along a major property-scale fault currently being explored along its 25-kilometre length. Drilling to date at 60-metre centres has defined mineralization along 400 metres of strike length. Mineralization extends to surface occurring over significant widths and remains open down a shallow plunge to the northeast, where exploration is continuing, all of which suggests that any mining would be open pit. The mineralization consists of black silica, a known marker of high-grade mineralization at Cerro Moro, demonstrating a large footprint to the high-grade event on the property. An inferred mineral resource estimate is expected to be reported with year-end mineral resource updates. Other mineralized targets along the structure are currently being drill tested to locate further mineral resource potential.
Work to date at Naty indicates the presence of high grades with above-average widths of mineralization. Among the more notable results are hole MD2925, which intersected 24.52 grams per tonne of gold and 113 g/t silver over 4.6 metres (estimated true width), and hole MD2936, which intersected 13.74 g/t of gold and 265 g/t of silver over 2.0 metres (estimated true width). See additional drill results in the associated table.
The discovery of the Naty zone and initial drill results underline the exploration potential of northeast-striking district-scale fault structures on the property, which provides an important, newly recognized exploration target.
CERRO MORO NEW EXPLORATION DRILLING INTERCEPTS, NATY ZONE DISCOVERY,
SELECT INTERVALS GREATER THAN OR EQUAL TO 10.0 GRAM-METRES
(gold g/t multiplied by estimated true width in metres)
Hole From To Interval Estimated true width Gold Silver
(m) (m) (m) (m) (g/t) (g/t)
MD2925 96.00 100.60 4.60 4.6 24.52 113
MRC2706 39.00 46.00 7.00 6.7 9.32 127
MRC2707 105.00 113.00 8.00 7.5 5.34 69
106.00 109.00 3.00 2.8 11.44 162
MD2911A 42.90 54.30 11.40 11.3 3.25 149
MD2936 110.00 112.00 2.00 2.0 13.74 265
MRC2711 120.00 124.00 4.00 3.9 6.87 37
120.00 122.00 2.00 2.0 12.50 43
MD2613 57.40 66.60 9.20 9.2 2.56 220
100.00 103.00 3.00 3.0 5.69 11
MD2939 5.00 8.00 3.00 3.0 4.79 21
38.00 42.00 4.00 4.0 5.86 44
MD2915 22.00 27.60 5.60 5.6 3.92 207
43.00 47.80 4.80 4.8 4.16 380
45.40 47.00 1.60 1.6 9.08 1,029
MD2931 114.60 115.90 1.30 1.3 8.00 51
High-grade intercepts in core mine area
In addition to the Naty zone discovery, comprehensive surface exploration at Cerro Moro has led to the discovery of new mineralization in several areas of the property, including substantial results from the Nini extension, and the Tres Lomas, Michelle and Deborah sectors, as shown in another table. The Nini extension and Tres Lomas areas are expected to add new open-pit mineral resources while drilling at Michelle and Deborah is increasing the strike length of these high-grade veins. Drilling will continue in order to define the Nini extension at depth down plunge and test several parallel targets at Michelle.
Infill and extension drilling in the Martina, Escondida, Veronica and other sectors also generated strong results, with gold grades above 100 g/t encountered across estimated true widths ranging up to 2.5 metres. These results define a subhorizontal ore shoot that will be established as indicated mineral resources by year-end. Notable results include hole MD2659, which intersected 252.68 g/t of gold and 306 g/t of silver over 2.5 metres (estimated true width). This hole includes a narrower interval of 1.2 metres (estimated true width) that intersected 485.05 g/t of gold and 522 g/t of silver. Hole 2538 intersected 266.19 g/t of gold and 456 g/t of silver over 1.4 metres (estimated true width).
CERRO MORO NEW EXPLORATION SELECT DRILLING INTERCEPTS (EXCLUDING NATY),
FOR INTERVALS GREATER THAN OR EQUAL TO 5.0 GRAM METRES
(gold g/t multiplied by estimated true width in metres)
Hole From To Interval Estimated true width Gold Silver
(m) (m) (m) (m) (g/t) (g/t)
MD2435 35.30 37.20 1.90 1.7 21.76 41
39.00 41.00 2.00 1.8 9.65 4
80.00 84.50 4.50 4.0 2.19 9
MD2554 148.00 152.00 4.00 3.8 10.00 23
MD2547 92.00 93.00 1.00 0.8 36.40 166
97.60 98.30 0.70 0.5 37.90 344
MD2905 259.80 264.00 4.30 3.1 2.49 55
MD2713 27.50 29.40 1.90 1.5 6.49 6
MD2552 18.30 23.00 4.70 3.4 5.29 82
MD2720 22.20 30.20 8.00 5.1 1.08 164
MD2395 46.40 48.90 2.50 2.5 3.49 61
MD2444 100.00 103.00 3.00 2.9 2.19 191
MD2566 39.10 41.40 2.30 2.3 4.11 912
MD2569 70.50 72.00 1.50 1.5 6.00 16
MD2571 93.10 100.40 7.30 7.3 1.11 96
MD2537 81.00 82.40 1.40 1.4 4.66 286
MD2792 84.00 85.00 1.00 1.0 22.20 9
94.50 95.70 1.30 1.2 4.88 331
MRC2885 14.00 15.00 1.00 0.9 41.17 73
23.00 25.00 2.00 1.7 11.88 4
MD2224 215.50 215.90 0.40 0.3 1,105.00 808
MD2366 110.00 111.10 1.10 1.0 14.39 626
MRC2799 192.00 196.00 4.00 3.6 3.44 45
MD2528 124.60 125.60 1.00 0.9 17.46 95
MD2517 299.50 300.90 1.40 1.2 6.83 123
CERRO MORO NEW INFILL DRILLING SELECT INTERCEPTS FOR INTERVALS
GREATER THAN OR EQUAL TO 10.0 GRAM METRES
(gold g/t multiplied by estimated true width in metres)
Hole From To Interval Estimated true width Gold Silver
(m) (m) (m) (m) (g/t) (g/t)
MD2659 268.10 270.60 2.50 2.5 252.68 306
268.10 269.30 1.20 1.2 485.05 522
MD2538 280.70 282.50 1.80 1.4 266.19 456
MD2688 234.50 239.00 4.50 2.9 12.53 58
MD2684 188.70 190.40 1.70 1.2 13.66 487
MD2663 258.00 261.00 3.00 2.2 9.50 1
MD2538 289.30 290.90 1.60 1.2 10.24 24
MD2783 157.00 158.70 1.70 1.4 61.55 4,089
MD2502 115.50 118.40 2.90 2.3 8.00 424
126.20 128.00 1.80 1.4 7.94 1,046
MD2507 187.00 190.90 3.90 2.4 5.72 93
MD2890 115.00 116.90 1.90 1.3 9.54 244
MD2669 29.10 31.10 2.00 1.7 76.03 113
MD2494A 101.70 104.00 2.30 1.9 14.04 3,485
MD2481A 169.50 171.00 1.50 1.0 63.87 1,468
MD2486 111.00 112.80 1.80 1.3 36.75 1,924
MD2489 214.90 216.60 1.70 1.4 15.85 423
MD2457 148.80 151.10 2.30 1.9 7.23 420
MD2732 62.50 66.80 4.30 4.3 5.41 604
MD2717 32.00 34.30 2.30 2.1 10.81 1,102
MD2729 11.50 19.20 7.70 7.6 1.56 99
MD2647 14.50 16.30 1.80 1.3 15.64 319
Extending exploration across full Cerro Moro concession
Recent exploration efforts have led to the delineation of multiple district-scale fault structures on the property possessing significant displacements and strike lengths. These newly identified structures, including both northwest and northeast trends, are similar in orientation and character to structures hosting known high-grade mineralization on the Cerro Moro property. To date, four of these major structures have been delineated representing a cumulative strike length of over 40 kilometres. These structures are a focus of current exploration activities and it is anticipated that this continuing work will generate further exploration targets in 2020.
To date, exploration at Cerro Moro has focused on a 40,000-hectare northeast-trending corridor extending north and south of the core mine. However, as of the third quarter of 2019, the exploration program has been expanded to encompass the entire 150,000-hectare Cerro Moro land package by initiating an airborne magnetic survey and wide-spaced soils geochemistry.
Qualified persons
Scientific and technical information contained in this press release has been reviewed and approved by Henry Marsden (PGeo and senior vice-president, exploration). Mr. Marsden is an employee of Yamana Gold and a qualified person as defined by Canadian Securities Administrators' National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.
About Yamana Gold Inc.
Yamana is a Canada-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.
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