NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: YAMANA RESOURCES INC.
TSE SYMBOL: YRI
FEBRUARY 4, 1999
Yamana Reports Reconnaissance Drill Results At Ciclon
West
SPOKANE, WASHINGTON--Yamana Resources Inc. reports all 14
completed reconnaissance inclined drill holes encountered
geochemically anomalous, although subeconomic, silver
mineralization on its wholly owned Ciclon West property, 20
kilometers west of Lejano, in Santa Cruz, Argentina (see Yamana
release Dec. 10, 1998). This 85-square-kilometer property, with
several untested targets, is still in the reconnaissance stage and
Yamana believes it continues to hold high exploration promise.
The drill program, completed at the end of 1998, focused on the
Central zone, one of three, subparallel, silica-soaked, brecciated
and fissured structural zones identified on the property. Drill
testing has yet to be conducted on either the Upper or Lower
zones, the latter being the location of Yamana's best surface
sample collected so far, which returned 7.37 g/t Au with 94 g/t
Ag. All three of these north-trending zones remain open in that
direction.
The campaign involved nine reverse-circulation (RC) and five
diamond drill core (DDH) holes (2,568 meters) spread along a
1.2-kilometer segment of the 700-meter-wide zone of high-angle
fissuring (see drill hole map on Yamana website). Ten of the 14
holes each encountered between one and six intercepts of at least
4 meters of 10 g/t Ag (see assay table on Yamana website). The
best results are in RC 7, which intercepted 17 meters true
thickness (tt) of 33 g/t Ag within 33 meters (tt) of 20 g/t Ag;
and DDH 9, drilled 600 meters to the southeast, which returned 20
meters (tt) of 25 g/t Ag within 104 meters (tt) of 6 g/t Ag.
Another hole, RC 10, located near DDH 9, encountered 40 meters of
13 g/t Ag (tt).
The drilling identified the structural zone as being part of a
large system of epithermal mineralization, geochemically enriched
in silver, antimony, arsenic and lead, with traces of gold. This
epithermal system is known to extend far beyond the drill-tested
portion of the structure. Only about 25 percent of the property
has been covered by reconnaissance sampling, mapping and
geophysics (induced polarization (IP)). Drilling determined that
the previously reported IP anomaly is not due to mineralization.
Says Mel Klohn, Yamana's Vice President and Chief Geologist,
"Drilling confirms we have a very large and strong epithermal
system highlighted by thick intervals of intriguing silver
values." He added that Yamana intends to complete a detailed
structural analysis and conduct further geochemical examinations
to identify potential drilling targets on the untested Upper and
Middle zones and to determine whether additional targets exist in
the Central zone.
Yamana Resources Inc. is a Canadian minerals exploration company
focused primarily in Argentina, with additional interests in
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, Yamana's planned exploration,
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 geochemical data and the
interpretation thereof, the possibility of unanticipated costs 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. Forward-looking statements are based on
the estimates and opinions of management on the date the
statements are made, and Yamana does not undertake any obligation
to update forward-looking statements should conditions or
management's estimates or opinions change.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Yamana Resources Inc.
Amy Martin
Investor Relations Coordinator
(509) 838-6615
(509) 838-0714 (FAX)
amartin@yamana.com
yamana.com
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