Located 80 kilometres south of Chapada, the Pilar exploration concessions comprise 590 square kilometers overlying an under-explored Archean Greenstone Belt.
Project Status
Intermediate development – feasibility study expected to be completed in 2010
Type of Operation
Pilar is expected to commence production as an underground mine before developing into an open-pit for the latter part of its mine life
Highlights
- Pilar is located on a greenstone belt known to host at least 38 gold occurrences and with documented historic gold production of more than two million ounces.
- Virtually unexplored when acquired, Pilar has since advanced to be one of Yamana’s most important development projects. A total of 220 diamond drill holes were completed in the 37,868 metre infill program in 2009.
- Significant potential exists for one or more discoveries which would further increase targeted production levels.
- A resource estimate for 2008 drilling was released in the second quarter of 2009 substantially increasing the resource by 51% and improving grade by 48% compared to the previous estimate. Currently progressing an exploration ramp for grade continuity and to accelerate development work.
- Exploration in 2010 contemplates a budget of approximately $5.1 million and 18,000 metres of drilling is planned. The drilling will be principally focused on expanding the current Jordino resource which remains open down dip and along strike.
- An initial feasibility study is expected to follow an update to the mineral resource estimate which is expected to be completed by the end of 2010.
- Estimated annual production of approximately 100,000 ounces.
Mineral Resources
(at December 31, 2009)
Measured and Indicated Mineral Resources
- 1.8 million tonnes grading 4.95 g/t gold containing 284,000 ounces of gold
Inferred Mineral Resources
- 10.4 million tonnes at 3.58 g/t gold containing 1,198,000 ounces of gold