Here's news about drilling plans:
FOR FURTHER INFORMATION PLEASE CONTACT:
Yamana Resources Inc.
Greg W. Taylor
Vice President, Corporate Development
1-888-809-0925
(509) 838-0714 (FAX)
E-mail: gwtaylor@yamana.com
yamana.com
The maps are available by contacting the company at the number
above or by accessing CCN's Internet Website at
cdn-news.com.
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: YAMANA RESOURCES INC.
TSE SYMBOL: YRI
AUGUST 20, 1998
Yamana Readies Drill Programs for Santa Cruz, Argentina
and Northern Chile
SPOKANE, WASHINGTON--Yamana Resources Inc. is completing
preparations to begin major drilling campaigns in September
focused on its precious-metals discoveries in Western Santa Cruz,
Argentina, and on established targets in the Northern Porphyry
Copper Belt (NPCB) in Chile. Yamana plans to drill up to 20,000
meters, using two diamond core (DDH) and two reverse-circulation
(RC) rigs.
Yamana's Argentina programs will include up to 10,000 meters of
DDH and RC drilling (see Santa Cruz: Drill Program), focused
primarily on its bonanza-grade silver with gold discoveries at
Bacon and Lejano (see Western Santa Cruz Property Map). This field
program is planned to include extensive reconnaissance and mapping
and may involve further geophysical surveys. The DDH drilling will
yield HQ-size core, providing sufficient sample material for
scheduled metallurgical recovery tests.
In Chile, where Yamana has secured a substantial, eight-property
land position (see NPCB Property Map) within the NPCB D the
world's most productive copper zone D a 10,000-meter RC drilling
program is planned to test 14 established targets (see NPCB: Drill
Program). Vertical drill holes, averaging about 250 meters each,
are planned to probe beneath 50 to 150 meters of pediment gravels
in search of concealed copper deposits.
The first program of the 1998-99 drill season is scheduled to
start in Argentina at Bacon once weather conditions in Southern
Patagonia permit, likely in mid-September. There, Yamana plans a
1,500-meter DDH program with two initial objectives: pattern
drilling, on 25-meter centers, to begin quantification of the
high-grade silver mineralization occurring within shoots beneath
the discovery outcrop; and, in-fill drilling to ascertain the
zone's continuity over its known 1-kilometer strike length.
Additionally, Yamana plans to engage its own rig in a 2,300-meter
RC program designed to supplement the DDH drilling and to scout
out indicated extensions of the mineralized quartz fault-vein over
its 9-kilometer-long host structure.
At Lejano, a 2,100-meter DDH program, using a second rig, is
scheduled to begin later in September. This work is intended to
determine the general parameters of the South Ridge mineral
deposit, including its strike and dip lengths, and to examine its
internal continuity. Yamana also plans a 2,200-meter RC program in
conjunction with the core drilling.
First-pass RC drilling is scheduled for Ciclon West, 20 kilometers
northwest of Lejano, where coincident, strong geochemical and
geophysical anomalies establish an attractive drilling target.
Contract geophysicists from Quantec Geofisica Argentina completed
a geophysical survey (Realsection Induced Polarization (IP)/
Resistivity) over the area and identified a very large sulfide
system beginning below the 80-meter-thick zone of oxidation and
extending to beyond the 200-meter search depth. Based on surface
sampling results, Yamana geologists believe that this sulfide
system is likely to contain precious-metals mineralization.
Depending on the findings of this planned 1,500-meter RC program,
follow-up DDH drilling could be initiated before the end of the
year.
In Chile, Yamana will begin drilling in September a series of 14
porphyry copper prospects utilizing a contracted RC rig. The first
two drill targets lie within Capricornio, 65 kilometers northeast
of Antofagasta. There, integrated geophysical (Transient
Electomagnetics) and geochemical (Enzyme Leach) surveys define
coincident subsurface anomalies at two sites. Six holes for 1,600
meters are scheduled to be drilled on these two attractive
targets.
Yamana then plans to drill on several of its Bufalo area
properties, 70 kilometers north of the Escondida copper mine.
Seventeen RC holes for 4,000 meters are scheduled to test nine
porphyry prospects defined by a variety of geologic, geochemical,
and geophysical features.
The first-pass drilling on Yamana's NPCB properties should
conclude before mid-December with 700 meters of RC testing two
pronounced, enzyme leach anomalies at Paciencia, followed by 900
meters of drill testing a coincident gravity, IP and magnetic
anomaly at Viento.
Depending on the findings of the NPCB drill program, up to 3,000
meters of follow-up drilling may begin early in 1999.
Yamana plans to release the results of its various drill programs
as they are accumulated and following internal analysis and
verification.
Yamana Resources Inc. is a Canadian exploration company holding
interests in projects in Argentina, Chile, Paraguay, Papua New
Guinea, Indonesia, and Washington state.
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, Yamana's planned exploration and
drilling program, 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 drilling results and other
geophysical or geochemical data and the interpretation thereof,
uncertainties relating to the extent, continuity, grade and nature
of the mineral deposit, the possibility of unanticipated costs and
expenses or cost overruns or inadequacy of cash resources,
political and economic conditions in the world economy or the
conditions in the nations in which the company does business,
metal prices 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.
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