Kevin,
Deja vu all over again.
Martinetas drilling program completed
Yamana Resources Inc YRI
Shares issued 27,306,990 Oct 17 close $1.60
Mon 20 Oct 97 News Release
Mr Greg Taylor reports
Yamana has recently completed a 10 hole diamond-core drilling program at
its Martinetas property at Santa Cruz Vanguardia, Argentina, following the
scheduled winter shutdown, and has begun first phase core drilling at the
Picua prospect on the Paraguari concession, Paraguay.
The latest drilling at Martinetas included ten shallow angle holes, for a
total of 978m. The program is further testing a large epithermal gold
system in volcanic rocks where previous drilling has intercepted extensive
mineralization, including high-grade gold. During the 1996-97 exploration
season, Yamana completed 23 reverse circulation and three diamond-core
holes for 4,088m on Martinetas. All but two of the 26 holes were
mineralized, with half intercepting strong mineralization of between 1 and
4 g/t Au over at least 6m. The best intercept so far shows 20m (true
thickness - 10m) of 29.2 g/t Au, including 2m (tt - 1m) of 247 g/t Au.
Some specks of visible gold were seen in the core from two of the newest
drill holes during the sawing of their core samples. All of the cores are
being sawed and prepared for assay, with results expected by late-November.
Meanwhile, Yamana is looking for a partner to earn-in on its numerous 100%
Santa Cruz Vanguardia properties and is currently in discussions with a
number of companies which have expressed serious interest in the project.
In Paraguay, the first two angle holes have been completed on a planned
diamond-core drilling program of at least 650m, with visible gold being
noted in a 1.5m core section from the first hole. This program is testing a
series of breccia-filled volcanic pipes (diatremes) in an alkalic intrusive
complex. The two holes intercepted a diatreme of at least 30m (tt), showing
bleached, vuggy, siliceous, fluorite and adularia rich rock. The targets
feature geologic, geochemical and geophysical elements similar to the
Cripple Creek, Colorado-style diatreme-hosted gold deposits. Previous field
work included rock-float and stream-sediment sampling, as well as extensive
hand augering to test the size of the altered area. The current drilling
program is expected to be completed during October, with assay results back
in late November.
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