LONDON (Thomson Financial) - Yamana Gold Inc said it has received positive results for the C1 Santa Luz gold project in Brazil and that it expects the project to contain about a total measured and indicated amount of 2.3 mln ounces of gold.
The company also said it expects an inferred amount of 0.2 mln ounces of gold at the project.
Yamana Gold said it expects an average annual gold production of about 103,000 ounces, with the first full-year of production to be about 120,000 ounces commencing in early 2010.
The company said it plans to spend about 6.5 mln usd for exploration at El Penon mine in Chile in 2008 after Al Este was expanded significantly and the Esmeralda and Bonanza veins were discovered with resources at gold and silver grades that are above current mine grades. TFN.newsdesk@thomson.com rda/nes COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
The company also said it expects an inferred amount of 0.2 mln ounces of gold at the project.
Yamana Gold said it expects an average annual gold production of about 103,000 ounces, with the first full-year of production to be about 120,000 ounces commencing in early 2010.
The company said it plans to spend about 6.5 mln usd for exploration at El Penon mine in Chile in 2008 after Al Este was expanded significantly and the Esmeralda and Bonanza veins were discovered with resources at gold and silver grades that are above current mine grades. TFN.newsdesk@thomson.com rda/nes COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
