More results on Bacon:
FOR FURTHER INFORMATION PLEASE CONTACT:
Yamana Resources Inc.
Amy Martin
Investor Relations Coordinator
(509) 838-6615
(509) 838-0714 (FAX)
E-mail: amartin@yamana.com
Home Page: yamana.com
There is a map 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
MARCH 8, 1999
Yamana Strikes Bonanza Silver Pocket at Bacon
SPOKANE, WASHINGTON--Yamana Resources is pleased to report that
drilling has encountered an exceptionally rich pocket of silver
mineralization in the top of the Veta Martha Silver Shoot on its
100 percent owned Bacon property in Santa Cruz, Argentina. These
results are the beginning of a 4,600-meter drill program now in
progress.
Twenty-six short vertical reverse-circulation holes (see drill
hole map) tested a 40-meter-long section of vein in which
previously reported trench sampling yielded 2 meters of 39,280 g/t
Ag and 107.98 g/t Au (see Yamana release Dec. 8, 1998). The drill
holes were between 7 and 13 meters deep (257 total meters) and
were sampled on continuous half-meter intervals. Assays as high as
68,800 g/t Ag (6.88 percent or 2,212.2 oz/t) with 352.40 g/t Au
(11.331 oz/t) and 117,900 g/t Ag (11.79 percent or 3,791.0 oz/t)
and 37.00 g/t Au (1.190 oz/t) were obtained in two separate
samples. The best assay interval is 4 meters of 44,558 g/t Ag with
33.75 g/t Au in drill hole 15 (see assay table attached and more
detailed assay table on Yamana's Web site). Many of the holes
bottomed in high-grade silver mineralization.
Yamana wishes to emphasize that the drill samples were assayed at
Yamana's Bema lab facility in Santa Cruz and that these are not
certified assays. A total of 114 high-grade samples forming the
basis of the results reported in the attached table are being sent
to Acme Analytical Laboratories Ltd. (Acme) for check assays, with
the results expected in about one month. Still, Yamana has a high
level of confidence that the silver assays are as correct as can
be obtainable, considering the exceptionally high values. (When
dealing with such high values, all assay laboratories encounter
difficulties in reproducing exact numbers, both internally and
against other laboratories.)
The Bema lab is a full-service, fire assay laboratory, which began
operating in 1996. It was initially established and operated on
behalf of Yamana by SGS Chile Ltda. of Santiago, Chile. Yamana
assumed management of the laboratory two years ago, employing
former SGS professional chemists. The Bema lab produced about 500
silver assays for Yamana's previous drilling campaigns at its
Bacon and Lejano projects - including the trench sample noted
above - that were checked by both Acme and ALS Geolabs S.A.
(Geolabs) in Santiago. The results from all three labs fell within
statistically acceptable standards for the minerals exploration
industry.
Richard Walters, President and COO of Yamana, noted, "This looks
like something that could be comparable to bonanza pockets of ores
reported in many historical mining districts, such as Creede,
Colorado, or Comstock, Nevada."
Yamana believes that additional bonanza-grade pockets are likely
to be found within the Veta Martha epithermal vein system. One
such indication comes from an earlier core hole, DDH 70, which
inter-sected 0.24 meters of 17,851 g/t Ag further down the Veta
Martha Silver Shoot at a depth of 76.4 meters. Similar to earlier
drilling (see Yamana release Dec. 9, 1998), the primary silver
minerals noted in this high-grade pocket are silver sulfides
(argentite - 87 percent Ag) and sulfosalts (pyrargerite - 60
percent Ag), with gold coming from electrum, a silver-gold
mixture.
The tonnage and average silver grade of the mineralized pocket
have not yet been determined, and no estimate has yet been
calculated as to what effect this discovery will have on silver
resources previously reported for Bacon (see Yamana release March
1, 1999). Yamana, however, believes that this phenomenally rich,
near-surface mineralization should have a pronounced and positive
impact on the projected economics of the project, particularly
with regard to the payback speed of mine capitalization.
Yamana Resources Inc. is a Canadian minerals exploration company
focused primarily in Argentina, with additional interest 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, resources, and reserves, the commercial
viability and economics of the silver deposit on the Bacon
property, the amenability of the deposit to standard recovery
methods, 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.
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.
/T/
Santa Cruz, Argentina
NORTH BACON DRILLING
Veta Martha Silver Shoot (Trench 16 Zone)
ASSAY SUMMARY
February, 1999
All holes are vertical reverse circulation (RC) with continuous
1/2 meter sample intervals.
All assays by Yamana's Bema laboratory
---------------------------------------------------------------
RC #/T.D. INTERVAL INTERCEPT Ag Au
(meters) (meters) (meters) (g/t) (g/t)
---------------------------------------------------------------
2/7.0 0.0 - 2.5 2.5 2,012 2.88
---------------------------------------------------------------
3/7.0 4.0 - 7.0 3.0 583 0.56
---------------------------------------------------------------
4/10.0 0.0 - 3.0 3.0 3,272 3.51
---------------------------------------------------------------
5/10.0 0.0 - 7.5 7.5 2,786 5.22
incl. incl. incl. incl.
0.0 - 2.0 2.0 7,030 15.18
---------------------------------------------------------------
6/7.0 0.0 - 5.5 5.5 859 1.08
---------------------------------------------------------------
7/7.0 2.5 - 5.5 3.0 489 0.42
---------------------------------------------------------------
8/7.0 2.0 - 4.5 2.5 776 0.87
---------------------------------------------------------------
11/10.0 4.0 - 6.5 2.5 500 0.34
---------------------------------------------------------------
12/10.0 4.0 - 10.0 6.0 612 0.45
---------------------------------------------------------------
13/10.0 4.5 - 10.0 5.5 17,505 10.09
incl. incl. incl. incl.
4.5 - 7.0 2.5 31,183 17.36
---------------------------------------------------------------
14/10.0 0.0 - 4.0 4.0 670 0.37
---------------------------------------------------------------
15/10.0 1.0 - 8.5 7.5 26,294 19.48
incl. incl. incl. incl.
1.5 - 5.5 4.0 44,458 33.75
---------------------------------------------------------------
16/10.0 5.5 - 10.0 4.5 20,778 13.77
---------------------------------------------------------------
17/10.0 6.0 - 10.0 4.0 1,024 0.56
---------------------------------------------------------------
18/10.0 5.5 - 10.0 4.5 2,956 2.14
---------------------------------------------------------------
19/10.0 3.5 - 6.5 3.0 2,124 2.99
---------------------------------------------------------------
21/13.0 5.5 - 13.0 7.5 2,379 1.92
---------------------------------------------------------------
22/13.0 10.0 - 12.5 2.5 11,504 3.95
---------------------------------------------------------------
24/13.0 8.5 - 13.0 4.5 30,669 54.73
incl. incl. incl. incl.
9.5 - 13.0 3.5 38,811 70.13
---------------------------------------------------------------
25/13.0 8.0 - 13.0 5.0 29,869 39.12
incl. incl. incl. incl.
8.5 - 12.0 3.5 42,053 55.52
---------------------------------------------------------------
26/13.0 5.5 - 8.5 3.0 2,344 1.96
incl. incl. incl. incl.
7.5 - 8.5 1.0 5,522 5.02
---------------------------------------------------------------
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