Yamana Gold Inc. (TSX: YRI) announced on Wednesday that the exploration program on the Wasamac project has discovered two new mineralized zones. The company believes this discovery is “further evidence of the excellent geological upside” on the property.
The Wasamac is a development-stage underground gold project located 15 kilometres west of Rouyn-Noranda in the Quebec province.
An exploration drill hole meant to test targets at the south of the Wildcat zone within the property intersected two new mineralized zones. The first is a shear from which the drill returned an intersect of 7.31 g/t gold over 3.37 metres true width. The drill hole is said to have ended in a wide shear zone with gold grades including 2.3 g/t gold over 0.6 metres.
This discovery, the company believes, points to the mining potential of the area between the south of Wasamac shear and north of the Cadillac Tectonic zone. Follow-up drilling on this area is planned for early 2022.
The gold producer sees this entirely new shear zone supporting a production platform of 200,000 ounces annually over a mine life of at least 15 years, improving the approved plan of 169,000 ounces annually over 10 years of mine life.
Application for bulk sampling permit has been advanced and is expected to be obtained in Q1 2023.
Yamana Gold last traded at $4.93 on the TSX.
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