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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (29976)	1/17/2007 10:30:34 AM
From: LoneClone	Read Replies (1) \| Respond to of 78421

Yamana Exploration reports results from Argentina and Honduras projects Tue Jan 16, 10:16 PM ca.news.finance.yahoo.com TORONTO (CP) - Yamana Gold Inc. (YRI.TO) reported "extremely successful" drilling results at its Gualcamayo gold project in Argentina on Tuesday. The results have led the company to believe that the resources will support a larger operation than what is currently planned, the Toronto-based miner added. "The new results indicate that we have significant potential to develop a large underground operation as well as expand the planned open pit," Yamana CEO and president Peter Marrone said in a release. "The current infill drilling program at Gualcamayo is very encouraging and Yamana is studying the potential to expand the open pit and bring in the western extension including Amelia and Magdalena. Additionally, the potential for future underground mining is excellent." Yamana said current production from the East Ledge Pit at the San Andres mine in Honduras is about 80,000 ounces per year. Total measured and indicated mineral resources as of Oct. 31, 2006, are 62.3 million tonnes containing 1.3 million ounces of gold, an increase from previously disclosed results when Yamana acquired the property on Feb. 28, 2006, it said. "Most of this increase has come from the successful upgrading of previous inferred mineral resources to the indicated category as well as addition of new resources between and adjacent to the East Ledge and Twin Hills areas," Yamana added. "Yamana plans to initiate metallurgical studies on the potential for dump leaching at San Andres in 2007 to further improve the project," Marrone said. "Providing that economics and metallurgical results are favourable, there is potential to dramatically increase reserves and the current life of mine by mining a much larger percentage of the identified measured and indicated resource." Yamana has gold and copper-gold production, gold development stage properties, exploration properties, and land positions in Brazil, Argentina and Central America.