Fast Facts



Primary Metals

Gold, Silver

Type of Mining

Underground, Open Pit

Proven and Probable Mineral Reserves

431,000 ounces of gold(1)
23,897,000 ounces of silver(2)

2020 Production

66,995 ounces of gold
5,448,561 ounces of silver
132,415 GEO

2021 Production Guidance

87,000-93,000 ounces of gold
5,355,000-5,665,000 ounces of silver
161,000-171-000 GEO(3)

  • 1. 1,666,000 tonnes with an average grade of 8.04 grams per tonne gold.
  • 2. 1,666,000 tonnes with an average grade of 446.30 grams per tonne silver.
  • 3. GEO assumes gold ounces plus the equivalent of silver ounces using a ratio of 88.86:1 for 2020 and a ratio of 72.00:1 for 2021 guidance.


Cerro Moro is a gold-silver operation located in the Santa Cruz province of Argentina approximately 70 kilometres south of the port city of Puerto Deseado. The Company acquired the operation in 2012 when it completed the acquisition of Extorre Gold Mines. Cerro Moro entered production in 2018, making it Yamana’s newest mine.

The life of mine, based only on mineral reserves, consists of an integrated operation from open pits and underground stopes, and indicates mining for a total period of five years, with a throughput of 1,000 tonnes per day. Exploration and engineering studies are ongoing with an objective to extend the life of the operation, with a strategic mine life objective of 10 years.

Value Proposition

Exploration activities at Cerro Moro are focused on increasing mineral reserves and mineral resources, and extending mine life. The Company is investing in exploration drilling on its large mine property and surrounding area, which together exceed 300,000 hectares, with efforts currently focusing on both the core mine area and new mineralized zones close to existing mineral reserves. Further upside is available from significant mineralization that has been identified at below current mineral reserve cut-off grades that could potentially be mined economically using lower-cost heap leach processing that would occur in parallel with the existing processing plant. Exploration activities consist of geological mapping, systematic rock and soil sampling, trenching and both reverse circulation and diamond drilling. Spectrometry for alteration patterns, remote sensing imagery and both magnetic and CSAMT geophysical surveys have proven to be powerful additional exploration tools for defining new targets. In addition, aggressive exploration budgets for the last three years have allowed the Yamana to collect a large amount of quality data at Cerro Moro and the Company is now collaborating with Goldspot Discoveries, an industry leader in machine learning, to leverage this new, property scale set of data to define new drill targets with machine learning algorithms.

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

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.