Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Richnorth who wrote (1993)	2/3/1999 9:41:00 AM
From: DeplorableIrredeemableRedneck	Read Replies (1) \| Respond to of 2346

Another Canapuke tout Yamana Resources (YRI : TSE : $0.60) SPECULATIVE BUY Target price: $3.00 52-week price range: $2.25-$0.56 Shares O/S: basic 35.7M fully diluted 53.1M Major shareholder: Barrick 10% Noranda, 7% Management, 4% Weekly trading vol.: 200,000 shares Working capital: $4.6M Market capitalization: $21.4M Yamana Resources announced it has calculated a preliminary inferred resource estimate of 14.4M ozs. of silver equivalent at the western sector of South Ridge, on its Lejano property in Argentina. The mineralized structure is a roughly tabular body with an average thickness of 6.1 m, containing 1.15M tonnes with an average grade of 331 g/t silver, 0.98 g/t gold, 4.1% lead, and 1.6% zinc. A higher-grade core with an average thickness of 2.6 m contains 0.49M tonnes averaging 546 g/t silver, 1.89 g/t gold, 5.9% lead, and 2.2% zinc. The higher-grade core accounts for 10.4M ozs., or 72% of the preliminary resource. The resource was based on data from 23 drill holes that intersected the mineralized zone, part of the 1998 drill program at Lejano that consisted of 114 diamond drill and reverse circulation holes (7,304 m). Drilling in the eastern sector found the mineralization to be generally thin and discontinuous, but the density of drilling in this area was deemed to be insufficient to determine whether the high-grade mineralization extends in this direction. Lejano is located 150 km north of the Bacon property in the western Deseado Massif. The geology of the deposit is similar to chimney-mantos-breccia-type deposits, characterized by a melange of base and precious metals within a tabular-shaped body. Yamana recently announced a high-grade 7.0M ozs. silver equivalent resource at the North Bacon project in Argentina. This mineralization consists of 215,000 tonnes at a grade of 1,050 g/t silver-equivalent and 224,887 tonnes at 986 g/t silver-equivalent. We recommend the stock as a SPECULATIVE BUY. Yamana is the lead firm in exploration in southern Argentina and has excellent targets elsewhere, at Lejano and throughout the Deseado Massif. Glenn Brown (416) 869-3073