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Gold/Mining/Energy : Yamana Resources INC. T- YRI -- Ignore unavailable to you. Want to Upgrade?

To: AL who wrote (1475)	8/8/1998 2:00:00 PM
From: Greg W. Taylor	Read Replies (1) \| Respond to of 2346

AL: "Bonanza" grade silver doesn't have a firm meaning, but it's something which seems to be generally accepted in the field (I am sure there are some who would argue) as reflecting exceptional grades above about 500 grams/silver/tonne. I've seen it used occasionally at lower grades -- I wouldn't agree with that positioning -- and there may be some who would set it a bit higher but, with hits well north of 1,000 g/t Ag (1 kilogram), we feel that this is not inappropriate and even an an apt description. Obviously, what will be important will be the overall grades of these deposits. The "bonanza" hits are a combination of indications that there is serious silver here somewhere and sweeteners which would increase the overall/average grade. You would not expect to find a huge amount of this stuff -- that is, we would not expect to have 100 meters of 1,000+ g/t Ag, other than drilling down the throat of something. (It is not impossible, but that's where it starts to smell of mind-bending.) Looking at silver grades from a different prospective, Coeur d'Alene's Fachinal mine across the border from Lejano has (Jan. 1/97) proven and probable reserves to date of 3,653,000 tons (not tonnes) averaging 0.069 ounces per ton gold and 2.78 opt Ag. The latter is equivalent to 95.35 g/t(tonne)Ag, a very respectable grade. Triton (Manantial Espejo) is averaging 267.1 g/t Ag and 4.92 g/t Au. Pan American Silver is dealing with (amongst other things) a very profitable silver-zinc-lead mine in Peru (Quiruvilca) with reserves of 2.6 million tons averaging 224 g/t Ag, 0.43 % Cu 1.72% Pb and 5.14% Zn; another deposit (Hog Heaven) in the US with PP reserves of 5.1 million tons averaging 157.44 g/t Ag (4.59 opt) and 0.58 g/t Au (0.017 opt) and, amongst other things, a tailings project in Mexico (Zacatecana) with 74 g/t Ag & 0.43 g/t Au. I hope this helps. Greg