Monday February 23, 1:34 am Eastern Time
Company Press Release
Yamana Secures Kalimantan Drilling Targets with CoW Signing -- Part ii of ii
SPOKANE, Wash.--(BUSINESS WIRE)--Feb. 24, 1998--Yamana Resources Inc(TSE:YRI. - news) HSB-19, with a
minimum of four more drilling targets, lies along strike about 2.5 kilometers north of HSB-10, within an area of 1.5
kilometers by 700 meters. The biggest of the targeted breccias is about 500 meters long and 120 meters wide, with sizeable
outcrops consisting of dark gray to bleached argillized or sericitized mudstone fragments, set in a druzy to dog-toothed quartz
matrix, commonly cut by hairline quartz-filled fractures. Several percent sulfides consisting of very fine pyrite and
arsenopyrite are disseminated in the fragments, and coarser sulfides occur within the quartz matrix and line fractures cutting
the fragments. These breccias commonly contain 0.5 to 2.0 g/t Au and 1.0 to 50 g/t Ag. The highest gold assay is 5.74 g/t. The
geochemistry of the area indicates that it is at a higher level in the geochemical system than HSB-10, suggesting better values
could be encountered at depth. Nearby, an argillized dacite felspar porphyry intrusive runs up to 0.8 g/t Au with about 6 g/t
Ag.
HSK-3, with two targets, lies 3 kilometers north of HSB-19, and contains an area 600 meters by 400 meters with good
precious-metal mineralization, including a 50- by 15-meter exposure of silicified shale breccia with quartz sulfide matrix,
and cut by secondary breccia veins. On this outcrop, a 4-meter chip sample yielded 4.55 g/t Au, 461 g/t Ag and 0.9 percent
As. Another sample on this outcrop shows 0.58 g/t Au, 554 g/t Ag and 0.3 percent As. A separate outcrop of altered and
veined mudstone, located 250 meters away, returned values of 0.38 g/t Au and 1,229 g/t Ag. The mineralization of all three
of these prospects consists of pyrite, marcasite arsenopyrite, sparse base-metal sulfides of sphalerite, galena and
chalcopyrite, silver sulphosalts and suspected orostibnite (gold-bearing antimony sulfide).
Prospects with drilling targets under development:
HSK-4 is a 1-square-kilometer drainage basin with many large breccia boulders ( 0.3 to 2.0 meters in diameter) showing
good precious-metal values. Nineteen float samples average 1.89 g/t Au, including: quartz vein breccia (5.16 g/t Au, 22.9 g/t
Ag); silicified rock of undetermined lithology (10.60 g/t Au, 35.3 g/t Ag); silicified mudstone (2.46 g/t Au, 92.6 g/t Ag); and,
silicified siltstone (10.42 g/t Au, 55.5 g/t Ag). These boulders have not yet been traced to their source but, given the
topography, must be close.
HSB-4 / HSB-20 is a combined prospect covering drainages related to HSB-19, 1 kilometer to the south, across a divide.
There are float-trains of altered and veined andesite tuffs, quartz veins and hydrothermal breccias. The best assay so far
(4.41 g/t Au, 252 g/t Ag and 4.2 percent As) is from silicified andesite with quartz stockwork and finely disseminated pyrite,
indicating strong mineralization to be found upstream. Elsewhere on the prospect, a 0.5-meter-wide hydrothermal quartz vein
breccia cutting a quartz stockwork (white clasts set in black matrix with pyrite and black sulfides cutting clasts) assays 0.41
g/t Au, 8.15 g/t Ag, 2,790 ppm Pb, 6,152 ppm Zn and 1.9 percent As. The presence of this lead-zinc-rich sample may
indicate leakage from an underlying, perhaps younger, base-metal-rich mineralizing event.
Other prospects of interest:
HSK-7 is the site of a strongly altered dacite porphyry with abundant pyrite and arsenopyrite. Float samples from the upper
reaches of the drainage average 0.54 g/t Au, 2.5 g/t Ag and 3.8 percent As. This prospect is located just over the divide to
the northeast of HSB-4/HSB-20.
SMB-2, lying along the regional NNE-SSW fault zone, is a coherent gold anomaly with base metals defined by 10
stream-sediment geochemical samples. It is draining a 3-square-kilometer area as part of a distinct circular feature
(2-kilometer-diameter) identified by landsat imagery. Boulders in the stream show significant base-metal and, occasionally,
gold and silver values. One outstanding 0.4-meter boulder of brecciated quartz vein assays 9.08 g/t Au, 70.8 g/t Ag and 1.78
percent Cu. Other boulders of diorite breccia show 1.0 percent Zn with anomalous copper. Five other streams draining the
circular structure remain to be prospected.
HSB-7 lies near the center of the 4-kilometer-diameter regional circular feature, a nest of multiple-phase circular features.
This prospect is a copper-dominated geochemical anomaly with subordinate gold and anomalous silver, lead and zinc. Small
dacitic dikes are noted to intrude the sedimentary rock sequence. Float of silicified, pyritic siltstones assay up to 560 ppm
Cu. Float of partly brecciated, hydrothermally altered volcanic rock is geochemically anomalous in gold, lead and zinc. All
of these factors are evidence of a copper-gold porphyry system.
HSB-3, 2 kilometerss west of the regional circular feature, yielded several float and outcrop samples with high copper
values (to 4,314 ppm Cu from an angular float boulder of micro-diorite with 1 percent disseminated sulfides) and some
anomalous gold.
FORWARD-LOOKING STATEMENTS
This News Release includes certain ''forward-looking statements'' within the meaning of Section 21E of the United States
Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this release,
including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans
and objectives of Yamana, are forward-looking statements that involve various risks and uncertainties. There can be no
assurance that such statements will prove to be accurate, and actual results and future events could differ materially from
those anticipated in such statements. Certain important factors that could cause actual results to differ materially from
Yamana's expectations include the uncertain reliability of geochemical data and the interpretation thereof and other factors
disclosed under the heading ''Risk Factors'' and elsewhere in Yamana's documents filed from time to time with The Toronto
Stock Exchange, the United States Securities and Exchange Commission and other regulatory authorities. All subsequent
written and oral forward-looking statements attributable to Yamana or persons acting on its behalf are expressly qualified in
their entirety by this notice.
Note to Editors: There is a map available by contacting the company at the number above or by accessing CCN's Internet
Website at cdn-news.com.
Contact:
Yamana Resources Inc.
Greg W. Taylor, 509/ 838-6615
509/ 838-0714 (FAX)
gwtaylor@yamana.com
yamana.com |
