Thursday, 19th June 2008 (469 views)

Yamana Gold has released an update on its exploration projects in South America.

The holes at Gualcamayo, Argentina produced results such as 2.24 g/t of gold over 110.8 metres and 1.35 g/t of gold over 34.6 metres.

The company said: "Total production at Gualcamayo is expected to exceed 300,000 ounces of gold per year once QDD Lower West is in production, which is planned for 2010."

This level of production at the site is expected to last for at least ten years.

In May 2008, a hole at El Penon in Chile reported 78.33 g/t of gold over 2.75 metres. The updated report now includes 14 more holes which include a result of 17.3 g/t of gold over 0.48 metres and 33.07 g/t of gold over 2.08 metres.

An increased production rate of 500,000 gold equivalent ounces per year by the end of 2008 has now been predicted for El Penon.

Yamana also has projects at Pilar de Goias in Brazil and Mercedes in Mexico.

It was announced this week that Yanama is to sell it's 33 per cent stake in the Fergusson Island gold project to BacTech mining.

 

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