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Gold/Mining/Energy : Mining News of Note
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To: LoneClone who wrote (1708)5/28/2007 9:34:45 PM
From: LoneClone  Read Replies (1) of 193482
 
Yamana Gold sees significant upgrade for Magdalena inferred resource

Yamana Gold Inc said the inferred resource at its Magdalena site in Argentina may be upgraded significantly higher and the limits of the deposit expanded.

The AIM-listed drilling company said it plans to complete a feasibility study at the site, as well as at Amelia Ines, by the end of September after another is completed for the main Quebrada Del Diablo resource area by the end of June.

A statement from the company added, of particular interest at Magdalena are holes QD-400 and QD-403 where the high grade intercept of 30.51 gpt Au over 12.8 m correlates with a steep, northwest plunging, marble and skarn breccia zone. This same zone was intersected a further 120m down plunge to the north in QD-403, returning 6.61 gpt Au over 45.22m.

Yamana said at Amelia Ines, hole QD-389 was drilled to test the southern margin of the deposit and returned 2.65 gpt Au over 78.7m in largely oxidized marble breccias.

Additional drilling is currently underway at both Amelia Ines and Magdalena to convert inferred resources to measured and indicated status and expand their open ended, down plunge potential. A resource update and metallurgical column testwork is expected to form the basis of the update to the feasibility study for these deposits.

It added drilling results and open ended potential at Magdalena and Amelia Ines show potential to expand the global resource base at Gualcamayo at higher grades and significantly improve the project economics.
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