Argentina - Agua Rica
Agua Rica is a large scale copper, gold, silver and molybdenum porphyry deposit located in the mining-friendly province of Catamarca near the producing Alumbrera mine. Yamana has concluded that this is an exceptional stand alone project offering significant value and currently has further optimization upside options being evaluated.
Project Status
Working towards a full update to the 2006 feasibility study
Highlights
- 100% owned by Yamana Gold
- Agua Rica's estimated rock value makes it one of the world's most significant undeveloped copper/gold/moly deposits known today
- Original feasibility study completed in 2006 and the initial environmental license for the project was issued in 2009
- Several optimization studies are currently underway, which are expected to show added value and operational efficiencies, with several already completed
- Yamana intends to conduct further metallurgical testwork to increase gold recoveries
- Based on a new mine plan, Agua Rica is expected to deliver 870 million tonnes of ore over an estimated 26.5 year mine life
- Average annual production is expected to be 148,000 ounces of gold and 370 million pounds of copper in the first ten years of production
- Initial metallurgical testing of Agua Rica’s molybdenum concentrate suggests that the deposit may contain a significant amount or rhenium not originally assumed in the feasibility study
- Yamana is currently in the process of evaluating potential strategic partners for the development of Agua Rica
- Yamana is working toward a full update to the prior feasibility study
Mineral Reserves and Mineral Resources
(based on assumed metal prices of $425 per ounce of gold and $1.10 per pound of copper)*
(at December 31, 2009)
Proven and Probable Reserves
- 797 million tonnes grading 0.23 g/t gold containing 5.8 million ounces of gold
- 797 million tonnes grading 0.49% copper containing 8.7 billion pounds of copper
Measured and Indicated Resources (exclusive of reserves)
- 312 million tonnes grading 0.17 g/t gold containing 1.7 million ounces of gold
- 312 million tonnes grading 0.42% copper containing 2.9 billion pounds of copper
Inferred Resources
- 651,000 tonnes grading 0.12 g/t gold containing 2.5 million ounces of gold
- 651,000 tonnes grading 0.34% copper containing 4.9B pounds of copper
* Based on the new mine plan completed in May 2010, which demonstrates approximately 10% more copper and 12% more gold than previously reported, updated Proven and Probable reserves based on $825 per ounce gold and $2.25 per pound copper are summarized as follows:
- 869,537 tonnes grading 0.232 g/t gold containing 6.5 million ounces of gold
- 869,537 tonnes grading 0.496% copper containing 9.5 billion pounds of copper
An updated full mineral reserve estimate will be completed as part of the continued review of the project.