Minera Florida is an underground gold mine located in central Chile, approximately 75 kilometres southwest of Santiago. Yamana acquired the operation as part of the Meridian Gold acquisition in 2007. In 2017, Yamana purchased all outstanding concessions in the neighbouring Las Cenizas property to hold a 100% interest in the project area. The mine has been in operation for over 30 years, and the longer-term objective is to increase production to +120,000 ounces of gold per year through the exploration and development of new targets located in the mineral claims adjacent to the Alhue Block where most of the mining activity has taken place in the past. Exploratory drilling in these new areas has successfully identified the continuity of the mineralized structures demonstrating a much wider mineralization footprint on the large land package open to exploration.

Exploration objectives at Minera Florida include converting current mineral resources to mineral reserves and extending mine life through the discovery and delineation of new mineral resources. Exploration has been especially successful extending the mineralization footprint outside of the main Alhue Block. Drilling from 2018 through 2020 led to the discovery, delineation, and initiation of new production fronts in the Pedro Valencia Sur, Pataguas, and Don Leopoldo vein systems. These successes have added new sectors away from the historic core mine, providing flexibility to the operation while increasing mine life. More recently, drill testing west of the Maqui fault (a little-explored area of the mine) has led to the discovery of the Bandolera vein, a well-developed ore shoot located close to the core mine infrastructure. Exploration is also delineating new mineral resources east of the core mine in the La Flor Oeste vein, further expanding the mineralized area. Mapping, surface geochemistry, and exploratory drilling are advancing new targets outside the core mine for further mine life growth.

Please see the press release published September 7, 2021, for the most recent exploration update for Minera Florida.

Please refer to Mineral Reserves & Resources for complete information relating to mineral reserves and mineral resources indicating tonnage and grade for the various mines and projects.