Operations

Reserves & Resources

Mineral Reserves (Proven and Probable)

The following table sets forth the Mineral Reserve estimates for the Company’s mineral projects as at December 31, 2013. See the qualified persons list below.



 

Proven Mineral Reserves

Probable Mineral Reserves

Total Proven & Probable

Gold

 

 

 

 

 

 

 

 

 

 

Tonnes

Grade

Contained

Tonnes

Grade

Contained

Tonnes

Grade

Contained

 

(000’s)

(g/t)

oz.  (000’s)

(000’s)

(g/t)

oz.  (000’s)

(000’s)

(g/t)

oz.  (000’s)

Alumbrera (12.5%)

22,188

0.35

250

625

0.21

4

22,813

0.34

254

Chapada

167,243

0.22

1,157

312,600

0.27

2,675

479,843

0.25

3,832

C1 Santa Luz

16,284

1.64

856

10,402

1.46

489

26,686

1.57

1,345

Cerro Morro

-

-

-

1,954

11.38

715

1,954

11.38

715

El Peñón

1,433

8.58

395

9,035

5.39

1,566

10,468

5.83

1,961

Ernesto/Pau a Pique

182

3.68

21

4,529

3.47

505

4,711

3.47

526

Fazenda Brasileiro

1,790

2.46

142

373

2.13

26

2,163

2.42

168

Gualcamayo

3,792

1.42

173

28,425

1.32

1,202

32,217

1.33

1,375

Jacobina

3,974

2.08

266

19,989

2.94

1,891

23,963

2.80

2,157

Jeronimo (57%)

6,350

3.91

798

2,331

3.79

284

8,681

3.88

1,082

Mercedes

963

4.48

139

4,635

4.74

706

5,598

4.69

845

Minera Florida Ore

1,953

3.93

247

1,729

4.56

253

3,682

4.22

500

Minera Florida Tailings

4,433

0.86

123

-

-

-

4,433

0.86

123

Total Minera Florida

6,386

1.80

370

1,729

4.56

253

8,115

2.39

623

Pilar

-

-

-

10,811

4.03

1,402

10,811

4.03

1,402

Total Gold Mineral Reserves

230,585

0.62

4,567

407,438

0.89

11,718

638,023

0.79

16,285

Agua Rica

384,871

0.25

3,080

524,055

0.21

3,479

908,926

0.22

6,559

 

 

 

 

 

 

 

 

 

 

Silver

 

 

 

 

 

 

 

Tonnes

Grade

Contained

Tonnes

Grade

Contained

Tonnes

Grade

Contained

 

(000’s)

(g/t)

oz.  (000’s)

(000’s)

(g/t)

oz.  (000’s)

(000’s)

(g/t)

oz.  (000’s)

Cerro Moro

-

-

-

1,954

648.3

40,723

1,954

648.3

40,723

El Peñón

1,433

223.3

10,285

9,035

186.5

54,171

10,468

191.5

64,456

Mercedes

963

57.7

1,786

4,635

44.5

6,633

5,598

46.8

8,419

Minera Florida Ore

1,953

17.6

1,107

1,729

22.8

1,267

3,682

20.1

2,374

Minera Florida Tailings

4,433

12.6

1,790

-

-

-

4,433

12.6

1,790

Total Minera Florida

6,386

14.1

2,897

1,729

22.8

1,267

8,115

16.0

4,164

Total Silver Mineral Reserves

8,782

53.0

14,968

17,353

184.2

102,794

26,135

140.1

117,762

Agua Rica

384,871

3.7

46,176

524,055

3.3

56,070

908,926

3.5

102,246

 

 

 

 

 

 

 

 

 

 

Copper

 

 

 

 

 

 

 

Tonnes

Grade

Contained

Tonnes

Grade

Contained

Tonnes

Grade

Contained

 

(000’s)

(%)

lbs (mm)

(000’s)

(%)

lbs (mm)

(000’s)

(%)

lbs (mm)

Alumbrera (12.5%)

22,188

 

0.35

171

625

0.26

4

22,813

0.35

175

Chapada

167,243

0.28

1,024

253,700

0.29

1,625

420,943

0.29

2,649

Total Copper Mineral Reserves

189,431

0.29

1,195

254,325

0.29

1,629

443,756

0.29

2,824

Agua Rica

384,871

0.56

4,779

524,055

0.43

5,011

908,926

0.49

9,790

 

 

 

 

 

 

 

 

 

 

Zinc

 

 

 

 

 

 

 

Tonnes

Grade

Contained

Tonnes

Grade

Contained

Tonnes

Grade

Contained

 

(000’s)

(%)

lbs (mm)

(000’s)

(%)

lbs (mm)

(000’s)

(%)

lbs (mm)

Minera Florida

6,386

0.87

122

1,729

1.42

54

8,115

0.98

176

Total Zinc Mineral Reserves

6,386

0.87

122

1,729

1.42

54

8,115

0.98

176

 

 

 

 

 

 

 

 

 

 

Molybdenum

 

 

 

 

 

 

 

Tonnes

Grade

Contained

Tonnes

Grade

Contained

Tonnes

Grade

Contained

 

(000’s)

(%)

lbs (mm)

(000’s)

(%)

lbs (mm)

(000’s)

(%)

lbs (mm)

Alumbrera (12.5%)

22,188

 

0.012

6.1

625

0.014

0.2

22,813

0.012

6

Total Moly Mineral Reserves

22,188

0.012

6.1

625

0.014

0.2

22,813

0.012

6

Agua Rica

384,871

0.033

279

524,055

0.030

350

908,926

0.031

629



Mineral Resources (Measured, Indicated and Inferred)

The following table set forth the Mineral Resource estimates for the Company’s mineral projects as at December 31, 2013. See the qualified persons list below.



 

Measured Mineral Resources

Indicated Mineral Resources

Total Measured & Indicated

Inferred Mineral Resources

Gold

 

 

 

 

 

 

 

 

 

 

 

 

 

Tonnes

Grade

Contained

Tonnes

Grade

Contained

Tonnes

Grade

Contained

Tonnes

Grade

Contained

 

(000’s)

(g/t)

oz. (000’s)

(000’s)

(g/t)

oz. (000’s)

(000’s)

(g/t)

oz. (000’s)

(000’s)

(g/t)

oz. (000’s)

Amancaya

-

-

-

-

-

-

-

-

-

1,390

7.90

351

Arco Sul

-

-

-

-

-

-

-

-

-

5,000

4.02

646

C1 Santa Luz

3,243

1.00

104

8,436

1.38

374

11,679

1.27

478

13,562

2.49

1,086

Chapada

22,636

0.21

155

233,129

0.26

1,949

255,765

0.26

2,104

155,236

0.18

913

Cerro Moro

-

-

-

1,777

2.14

122

1,777

2.14

122

3,559

1.90

220

El Peñón

923

12.30

365

2,467

6.37

505

3,390

7.98

870

5,704

6.83

1,252

Ernesto/Pau a Pique

-

-

-

4,232

2.38

324

4,232

2.38

324

1,610

3.04

157

Fazenda Brasileiro

-

-

-

2,034

1.77

116

2,034

1.77

116

6,131

3.10

611

Gualcamayo

11,342

1.00

365

83,429

1.01

2,711

94,771

1.01

3,076

30,366

2.08

2,029

Jacobina

14,380

2.26

1,044

19,558

2.50

1,570

33,938

2.40

2,614

15,849

3.11

1,584

Jeronimo (57%)

772

3.77

94

385

3.69

46

1,157

3.74

139

1,118

4.49

161

La Pepa

15,750

0.61

308

133,682

0.57

2,452

149,432

0.57

2,760

37,900

0.50

620

Lavra Velha

-

-

-

-

-

-

-

-

-

3,934

4.29

543

Mercedes

173

4.62

26

3,412

3.02

331

3,585

3.10

357

3,310

3.89

414

Minera Florida

1,905

5.97

366

2,480

4.92

393

4,385

5.38

759

5,008

5.63

907

Pilar

-

-

-

1,894

4.44

270

1,894

4.44

270

12,665

4.12

1,676

Suyai

-

-

-

4,700

15.00

2,286

4,700

15.00

2,286

900

9.90

274

Total Gold Mineral Resources

71,124

1.24

2,827

501,615

0.83

13,449

572,739

0.88

16,275

303,242

1.38

13,444

Agua Rica

27,081

0.14

120

173,917

0.14

776

200,998

0.14

896

642,110

0.12

2,444

 

 

 

 

 

 

 

 

 

 

 

 

 

Silver

 

 

 

 

 

 

 

 

 

Tonnes

Grade

Contained

Tonnes

Grade

Contained

Tonnes

Grade

Contained

Tonnes

Grade

Contained

 

(000’s)

(g/t)

oz. (000’s)

(000’s)

(g/t)

oz. (000’s)

(000’s)

(g/t)

oz. (000’s)

(000’s)

(g/t)

oz. (000’s)

Amancaya

-

-

-

-

-

-

-

-

-

1,390

73.0

3,270

Chapada

-

-

-

82,161

1.4

3,775

82,161

1.4

3,775

27,553

1.1

982

Cerro Moro

-

-

-

1,777

201.0

11,488

1,777

201.1

11,488

3,559

116.0

13,297

El Peñón

923

319.4

9,478

2,467

184.8

14,652

3,390

221.4

24,130

5,704

290.2

53,231

Mercedes

173

49.2

273

3,412

37.2

4,078

3,585

37.7

4,351

3,310

36.2

3,843

Minera Florida

1,905

38.6

2,367

2,480

26.2

2,092

4,385

31.6

4,459

5,008

37.4

6,023

Suyai

-

-

-

4,700

23.0

3,523

4,700

23.0

3,523

900

21.0

575

Total Silver Mineral Resources

3,001

125.6

12,118

96,997

12.7

39,608

99,998

16.1

51,726

47,424

53.3

81,221

Agua Rica

27,081

2.3

2,042

173,917

2.9

16,158

200,998

2.8

18,200

642,110

2.3

48,124

 

 

 

 

 

 

 

 

 

 

 

 

 

Copper

 

 

 

 

 

 

 

 

 

Tonnes

Grade

Contained

Tonnes

Grade

Contained

Tonnes

Grade

Contained

Tonnes

Grade

Contained

 

(000’s)

(%)

 lbs (mm)

(000’s)

(%)

 lbs (mm)

(000’s)

(%)

 lbs (mm)

 (000’s)

(%)

 lbs (mm)

Chapada

22,636

0.17

84

150,968

 

0.24

790

173,604

0.23

874

127,683

0.26

731

Total Copper Mineral Resources

22,636

0.17

84

150,968

0.24

790

173,604

0.23

874

127,683

0.26

731

Agua Rica

27,081

0.45

266

173,917

0.38

1,447

200,998

0.39

1,714

642,110

0.34

4,853

 

 

 

 

 

 

 

 

 

 

 

 

 

Zinc

 

 

 

 

 

 

 

 

 

Tonnes

Grade

Contained

Tonnes

Grade

Contained

Tonnes

Grade

Contained

Tonnes

Grade

Contained

 

(000’s)

 (%)

 lbs (mm)

(000’s)

 (%)

 lbs (mm)

(000’s)

 (%)

 lbs (mm)

(000’s)

 (%)

 lbs (mm)

Minera Florida

1,905

1.63

68

2,480

1.74

95

4,385

1.69

164

5,008

1.62

179

Total Zinc Mineral Resources

1,905

1.63

68

2,480

1.74

95

4,385

1.69

164

5,008

1.62

179

 

 

 

 

 

 

 

 

 

 

 

 

 

Molybdenum

 

 

 

 

 

 

 

 

 

Tonnes

Grade

Contained

Tonnes

Grade

Contained

Tonnes

Grade

Contained

Tonnes

Grade

Contained

 

(000’s)

 (%)

 lbs (mm)

(000’s)

 (%)

 lbs (mm)

(000’s)

 (%)

 lbs (mm)

(000’s)

 (%)

 lbs (mm)

Agua Rica

27,081

0.049

29

173,917

0.037

142

200,998

0.039

172

642,110

0.034

480

Total Moly Mineral Resources

27,081

0.049

29

173,917

0.037

142

200,998

0.039

172

642,110

0.034

480



Yamana Gold Inc. Mineral Reserve and Mineral Resource Reporting Notes:

  1. Metal Prices and Cut-off Grades:

    Mine

    Mineral Reserves

    Mineral Resources

     

     

     

    Alumbrera (12.5%)

    $1,300 Au, $2.95 Cu, $10.00 Mo and 0.22% CuEq

    N/A

    Amancaya

    N/A

    1.0 g/t Aueq OP , 3.4 g/tAueq UG

    Arco Sul

    N/A

    2.5 g/t Au cut-off

    Caiamar

    N/A

    1.5 g/t Au cut-off

    Chapada

    $950 Au, $2.80 Cu, $4.80 average cut-off, 1.25 Revenue Factor for Main Pit

    $950 Au, $2.80 Cu, $4.80 average cut-off, 1.00 Revenue Factor for Corpo Sul

    $900 Au; 0.2 g/t Au cut-off for oxide ore and 0.3 g/t Au cut-off for sulphide ore in Suruca Gold Project

    $1500 Au, $3.5 Cu and $3.5 NSR cut-off out of pit for Chapada Mine (Main Pit, CorpoSul and Corpo NE)



    0.2 g/t Au cut-off for oxide and 0.3 g/t Au cut-off for sulphide in Suruca Gold Project

    C1-Santa Luz

    $950 Au for C1 with 0.7 g/t Au cut-off, Antas 2, $950 Au for Antas 3 with 0.5 g/t Au cut-off and $750 Au Mansinha and Mari; 0.50 g/t Au cut-off

    0.5 g/t Au cut-off for C1 Ore(Antas 2, Antas 3, Mansinha, Mari, Alvo 36, VG14 and Serra Branca) and 1.5 g/t Au cut-off for C1 Underground high grade ore

    Cerro Moro

    $950 Au and $18.00 Ag, Open pit cut-off at 3.4 g/t Aueq and Underground cut-off at 6.2 g/t Aueq

    1.0 g/t Aueq cut-off

    El Peñón

    $950 Au, $18.00 Ag, Variable cut-off for Underground and 1.2 g/t Aueq cut-off for Open Pit

    3.9 g/t Aueq cut-off

    Ernesto/Pau a Pique

    $950 Au, 1.5 g/t UG, OP cut-off 1.06 g/t Au for Ernesto and 1.0 g/t Au cut-off for Lavrinha and 0.63 g/t Au

    for Satellite s NM

    0.5 g/t Au cut-off for Ernesto, 1.0 g/t Au for Lavrinha, 0.63 g/t Au for Satellites NM an1.0 g/t Au for Pau a Pique

    Fazenda Brasileiro

    $950 Au, 2.14 g/t Au UG and 0.75 g/t Au OP cut-off

    0.5 g/t cut-off UG and 0.25g/t Au OP cut-off

    Gualcamayo

    $950 Au: 1.00 g/t AuCut-off UG: cut-offs for OP, 0.20 g/t Au for QDD Upper and 0.5 g/t Au for AIM

    1.00 g/t AuCut-off UG: cut-offs for OP, 0.20 g/t Au for QDD Upper and 0.5 g/t Au for AIM

    Jacobina

    $950 Au; 1.45 g/t Au cut-off

    0.5 g/t Au cut-off UG, 1.5 g/t Au cutoff for Pindobacu

    Jeronimo

    $900 Au, 2.0 g/t Au cut-off

    2.0 g/t Au cut-off

    La Pepa

    N/A

    $780 Au, 0.30 g/tAu cut-off

    Lavra Velha

    N/A

    $1300 Au, $3.5Cu and 0.2g/t Au, 0.1% Cu cut-offs

    Mercedes

    $950 Au, $18.00 Ag, 2.9 g/t Aueq

    2.0 g/t Aueq cut-off for Mercedes and 0.4 g/t Aueq cut-off for Rey de Oro

    Minera Florida

    $950 Au, $18.00 Ag, $1 lb Zn, 2.80 g/t Aueq cut-off and Florida tailings cut-off N/A

    2.22 g/t Aueq cut-off

    Pilar

    $950 Au; 2.0 g/t Au cut-off

    2.0 g/t Au cut-off

    Suyai

    N/A

    5.0 g/t Au cut-off

    Agua Rica

    $1,000 Au, $2.25 lb Cu, $17.00 g/t Ag, $12.00 lb Mo

    0.2% Cu cut-off

  2. All Mineral Reserves and Mineral Resources have been calculated in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and NI 43-101, other than the estimates for the Alumbrera mine which have been calculated in accordance with the JORC Code which is accepted under NI 43-101.
  3. All Mineral Resources are reported exclusive of Mineral Reserves.
  4. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.
  5. Mineral Reserves and Mineral Resources are reported as of December 31, 2013.
  6. For the qualified persons responsible for the Mineral Reserve and Mineral Resource estimates, see the qualified persons chart below.


Property

Qualified Persons for Mineral Reserves

Qualified Persons for Mineral Resources

 

Alumbrera

Julio Bruna Novillo, AusIMM, Member of CIM, Independent Consulting Geologist

Julio Bruna Novillo, AusIMM, Member of CIM, Independent Consulting Geologist

Amancaya

Not applicable

Chester M. Moore, P.Eng., Roscoe Postle Associates Inc.

Arco Sul

Not applicable

Emerson Ricardo Re, MSc, MAusIMM, Registered Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.

C-1 Santa Luz

Emerson Ricardo Re, MSc, MAusIMM, Registered Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.

Emerson Ricardo Re, MSc, MAusIMM, Registered Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.

Chapada

Emerson Ricardo Re, MSc, MAusIMM, Registered Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.

Emerson Ricardo Re, MSc, MAusIMM, Registered Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.

Cerro Moro

Carlos Guzman, Mining Eng., Registered Member of Chilean Mining Commission, FAusIMM, Principal and Project Director, NCL Ingenieria y Construccion SpA

David (Ted) Coupland, BSc DipGeoSc CFSG ASIA MAusIMM (CP) MMICA, Director, Geological Consulting, Principal Geostatistician Cube Consulting Pty Ltd.

 

-and-

 

Marcos Valencia A. P.Geo., Registered Member of Chilean Mining Commission, Corporate Manager R&R, Andes/Mexico, Yamana Gold Inc.

El Peñón

Carlos Bottinelli Otárola, P. Eng. Registered Member of Chilean Mining Commission, Development Manager, Yamana Gold Inc.

Max Iribarren Parra, P. Geo., Registered Member of Chilean Mining Commission,

Resources Geologist, Yamana Gold Inc.

 

-and-

 

Sebastián Ramírez Cuadra, P. Geo., Registered Member of Chilean Mining Commission,

Resources Geologist, Yamana Gold Inc.

Ernesto/ Pau-a -Pique

Emerson Ricardo Re, MSc, MAusIMM, Registered Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.

For Lavrinha and Ernesto Pit 1

 

-and-

 

Marcelo Antonio Batelochi, P.Geo., MAusIMM (CP), Geologist Consultant

For Satellites (Nosde, Japones and Pombinhas)

 

-and-

 

Ricardo Miranda Díaz, P.Eng., Registered Member of Chilean Mining Commission, Corporate Technical Manager, Yamana Gold Inc.

For Pau a Pique

 

-and-

 

Peter Mokos, B. Eng. (Mining), Dip. Eng. (Mining), MAusIMM (CP), RPEQ, Principal Mining Engineer, AMC Consultants Pty. Ltd.

For Ernesto Pit 2

Emerson Ricardo Re, MSc, MAusIMM, Registered Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.

For Pau a Pique and Lavrinha

 

-and-

 

Marcelo Antonio Batelochi, P.Geo., MAusIMM (CP), Geologist Consultant

For Satellites (Nosde, Japones and Pombinhas)

 

-and-

 

Rodney Webster, B.Sc..(Applied Geology), MAusIMM, MAIG, Principal Geologist, AMC Consultants Pty. Ltd.

For Ernesto (Pits 1 and 2)

Fazenda Brasileiro

Emerson Ricardo Re, MSc, MAusIMM, Registered Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.

Emerson Ricardo Re, MSc, MAusIMM, Registered Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.

Gualcamayo

Ricardo Miranda Díaz, P.Eng., Registered Member of Chilean Mining Commission, Corporate Technical Manager, Yamana Gold Inc.

Marcos Valencia A. P.Geo., Registered Member of Chilean Mining Commission, Corporate Manager R&R, Andes/Mexico, Yamana Gold Inc.

Jacobina

Normand Lecuyer, B.Sc., P.Eng., Roscoe Postle Associates Inc.

Chester M. Moore, P.Eng., Roscoe Postle Associates Inc.

 

Jeronimo

Guillermo Bagioli Arce, MAusIMM, Registered Member of Chilean Mining Commission, Metálica Consultores S.A.

 

Dominique François-Bongarçon, Ph.D, FAusIMM, Agoratek International

 

La Pepa

Not applicable

Chester M. Moore, P.Eng., Roscoe Postle Associates Inc.

 

Lavera Velha

Not applicable

Marcelo Antonio Batelochi, P.Geo., MAusIMM (CP), Geologist Consultant

Mercedes

Dennis Bergen, P.Eng., Roscoe Postle Associates Inc.

Chester M. Moore, P.Eng., Roscoe Postle Associates Inc.

Minera Florida

Carlos Bottinelli Otárola, P. Eng. Registered Member of Chilean Mining Commission, Development Manager, Yamana Gold Inc.

 

Javier Suazo Guzmán., P.Geo., Registered Member of the Chilean Mining Commission, Resources Geologist, Yamana Gold Inc.

 

-and-

 

Dafne Herreros Van Norden, P.Geo., Registered Member of Chilean Mining Commission,

Resources Geologist, Yamana Gold Inc.

Pilar

Guillermo Bagioli, MAusIMM, Registered Member of Chilean Mining Commission, Metalica Consultores S.A.

For Jordino

 

-and-

 

Emerson Ricardo Re, MSc, MAusIMM, Registered Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.

For Jordino Extension

Marco Antonio Alfaro Sironvalle, P.Eng., Ph.D. Eng., MAusIMM, Registered Member of Chilean Mining Commission

For Jordino

 

-and-

 

Emerson Ricardo Re, MSc, MAusIMM, Registered Member of Chilean Mining Commission, Corporate Manager R&R, Yamana Gold Inc.

For Jordino Down Dip, Tres Buracos, HG and Ogo Extension and Maria Lazara

Suyai

Not applicable

Robin J. Young, P. Geo., Western Services Engineering, Inc.

Agua Rica

Enrique Munoz Gonzalez, MAusIMM, Registered Member of Chilean Mining Commission

Evandro Cintra, Ph.D., P. Geo., Vice President, Operational Planning and Support, Yamana Gold Inc.

TSX: YRI: 6.79  -0.18
NYSE: AUY: 6.09  -0.15